# EDGAR Filing Document

**Accession Number:** 0000892538
**File Stem:** 0001193125-25-232888
**Filing Date:** 2025-10
**Character Count:** 5728117
**Document Hash:** 633945ffbd90739e7731bcca7da08102
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-232888.hdr.sgml**: 20251007

**ACCESSION NUMBER**: 0001193125-25-232888

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 184

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20251007

**DATE AS OF CHANGE**: 20251007

**EFFECTIVENESS DATE**: 20251007

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SUNAMERICA SERIES TRUST
- **CENTRAL INDEX KEY:** 0000892538

**ORGANIZATION NAME:**
- **EIN:** 137002445
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07238
- **FILM NUMBER:** 251378679

**BUSINESS ADDRESS:**
- **STREET 1:** 21650 OXNARD STREET, 10TH FLOOR
- **CITY:** WOODLAND HILLS
- **STATE:** CA
- **ZIP:** 91367
- **BUSINESS PHONE:** 551-235-3560

**MAIL ADDRESS:**
- **STREET 1:** 30 HUDSON STREET
- **STREET 2:** 16TH FLOOR
- **CITY:** JERSEY CITY
- **STATE:** NJ
- **ZIP:** 07302

## Series and Classes Contracts Data

### SA JPMorgan Ultra-Short Bond Portfolio (Series ID: S000008075)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000021953 | Class 1      |  |
| C000021954 | Class 2      |  |
| C000021955 | Class 3      |  |

### SA Large Cap Index Portfolio (Series ID: S000008076)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000021956 | Class 1      |  |
| C000183180 | Class 3      |  |

### SA JPMorgan Equity-Income Portfolio (Series ID: S000008077)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000021957 | Class 1      |  |
| C000021958 | Class 2      |  |
| C000021959 | Class 3      |  |

### SA JPMorgan Large Cap Core Portfolio (Series ID: S000008078)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000021960 | Class 1      |  |
| C000021961 | Class 2      |  |
| C000021962 | Class 3      |  |

### SA Franklin BW U.S. Large Cap Value Portfolio (Series ID: S000008079)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000021963 | Class 1      |  |
| C000021964 | Class 2      |  |
| C000021965 | Class 3      |  |

### SA Franklin Systematic U.S. Large Cap Value Portfolio (Series ID: S000008080)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000021966 | Class 1      |  |
| C000021967 | Class 2      |  |
| C000021968 | Class 3      |  |

### SA AB Growth Portfolio (Series ID: S000008081)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000021969 | Class 1      |  |
| C000021970 | Class 2      |  |
| C000021971 | Class 3      |  |

### SA MFS Massachusetts Investors Trust Portfolio (Series ID: S000008083)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000021975 | Class 1      |  |
| C000021976 | Class 2      |  |
| C000021977 | Class 3      |  |

### SA MFS Large Cap Growth Portfolio (Series ID: S000008085)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000021981 | Class 1      |  |
| C000021982 | Class 2      |  |
| C000021983 | Class 3      |  |

### SA Federated Hermes Corporate Bond Portfolio (Series ID: S000008086)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000021984 | Class 1      |  |
| C000021985 | Class 2      |  |
| C000021986 | Class 3      |  |

### SA Fidelity Institutional AMSM Real Estate Portfolio (Series ID: S000008087)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000021987 | Class 1      |  |
| C000021988 | Class 2      |  |
| C000021989 | Class 3      |  |

### SA Franklin Small Company Value Portfolio (Series ID: S000008088)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000021990 | Class 1      |  |
| C000021991 | Class 3      |  |

### SA JPMorgan Mid-Cap Growth Portfolio (Series ID: S000008089)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000021992 | Class 1      |  |
| C000021993 | Class 2      |  |
| C000021994 | Class 3      |  |

### SA Invesco Growth Opportunities Portfolio (Series ID: S000008091)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000021998 | Class 1      |  |
| C000021999 | Class 2      |  |
| C000022000 | Class 3      |  |

### SA Janus Focused Growth Portfolio (Series ID: S000008092)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022001 | Class 1      |  |
| C000022002 | Class 2      |  |
| C000022003 | Class 3      |  |

### SA AB Small & Mid Cap Value Portfolio (Series ID: S000008094)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022007 | Class 2      |  |
| C000022008 | Class 3      |  |
| C000109738 | CLASS 1      |  |

### SA Putnam International Value Portfolio (Series ID: S000008095)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022009 | Class 1      |  |
| C000022010 | Class 2      |  |
| C000022011 | Class 3      |  |

### SA Fidelity Institutional AM Global Equities Portfolio (Series ID: S000008096)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022012 | Class 1      |  |
| C000022013 | Class 2      |  |
| C000022014 | Class 3      |  |

### SA PIMCO Global Bond Opportunities Portfolio (Series ID: S000008097)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022015 | Class 1      |  |
| C000022016 | Class 2      |  |
| C000022017 | Class 3      |  |

### SA Morgan Stanley International Equities Portfolio (Series ID: S000008098)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022018 | Class 1      |  |
| C000022019 | Class 2      |  |
| C000022020 | Class 3      |  |

### SA JPMorgan Emerging Markets Portfolio (Series ID: S000008099)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022021 | Class 1      |  |
| C000022022 | Class 2      |  |
| C000022023 | Class 3      |  |

### SA PIMCO RAE International Value Portfolio (Series ID: S000008100)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022024 | Class 2      |  |
| C000022025 | Class 3      |  |
| C000109739 | CLASS 1      |  |

### SA PineBridge High-Yield Bond Portfolio (Series ID: S000008101)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022026 | Class 1      |  |
| C000022027 | Class 2      |  |
| C000022028 | Class 3      |  |

### SA JPMorgan MFS Core Bond Portfolio (Series ID: S000008102)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022029 | Class 1      |  |
| C000022030 | Class 2      |  |
| C000022031 | Class 3      |  |

### SA JPMorgan Diversified Balanced Portfolio (Series ID: S000008103)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022032 | Class 1      |  |
| C000022033 | Class 2      |  |
| C000022034 | Class 3      |  |

### SA MFS Total Return Portfolio (Series ID: S000008104)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000022035 | Class 1      |  |
| C000022036 | Class 2      |  |
| C000022037 | Class 3      |  |

### SA VCP Dynamic Allocation Portfolio (Series ID: S000035703)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000109363 | Class 3      |  |
| C000169131 | Class 1      |  |

### SA VCP Dynamic Strategy Portfolio (Series ID: S000037569)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000115991 | Class 3      |  |
| C000169132 | Class 1      |  |

### SA Schroders VCP Global Allocation Portfolio (Series ID: S000052511)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000164959 | Class 3      |  |
| C000171604 | Class 1      |  |

### SA T. Rowe Price VCP Balanced Portfolio (Series ID: S000052512)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000164960 | Class 3      |  |
| C000171605 | Class 1      |  |

### SA Fixed Income Index Portfolio (Series ID: S000056256)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000177069 | Class 1      |  |
| C000177070 | Class 3      |  |

### SA International Index Portfolio (Series ID: S000056257)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000177071 | Class 1      |  |
| C000177072 | Class 3      |  |

### SA Mid Cap Index Portfolio (Series ID: S000056258)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000177073 | Class 1      |  |
| C000177074 | Class 3      |  |

### SA Small Cap Index Portfolio (Series ID: S000056259)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000177075 | Class 1      |  |
| C000177076 | Class 3      |  |

### SA Index Allocation 60/40 Portfolio (Series ID: S000056260)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000177077 | Class 3      |  |
| C000177078 | Class 1      |  |

### SA Index Allocation 80/20 Portfolio (Series ID: S000056261)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000177079 | Class 1      |  |
| C000177080 | Class 3      |  |

### SA Index Allocation 90/10 Portfolio (Series ID: S000056262)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000177081 | Class 1      |  |
| C000177082 | Class 3      |  |

### SA Franklin Tactical Opportunities Portfolio (Series ID: S000058430)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000191735 | Class 1      |  |
| C000191736 | Class 3      |  |

### SA Goldman Sachs Multi-Asset Insights Portfolio (Series ID: S000059203)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000193967 | Class 1      |  |
| C000193968 | Class 3      |  |

### SA T. Rowe Price Allocation Moderately Aggressive Portfolio (Series ID: S000059204)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000193969 | Class 1      |  |
| C000193970 | Class 3      |  |

### SA VCP Index Allocation Portfolio (Series ID: S000059205)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000193971 | Class 1      |  |
| C000193972 | Class 3      |  |

### SA Fixed Income Intermediate Index Portfolio (Series ID: S000059206)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000193973 | Class 1      |  |
| C000193974 | Class 3      |  |

### SA Large Cap Growth Index Portfolio (Series ID: S000061754)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000199989 | Class 1      |  |
| C000199990 | Class 3      |  |

### SA Large Cap Value Index Portfolio (Series ID: S000061755)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000199991 | Class 1      |  |
| C000199992 | Class 3      |  |

### SA Emerging Markets Equity Index Portfolio (Series ID: S000061756)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000199993 | Class 1      |  |
| C000199994 | Class 3      |  |

### SA Global Index Allocation 60/40 Portfolio (Series ID: S000061757)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000199995 | Class 1      |  |
| C000199996 | Class 3      |  |

### SA Global Index Allocation 75/25 Portfolio (Series ID: S000061758)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000199997 | Class 3      |  |
| C000199998 | Class 1      |  |

### SA Global Index Allocation 90/10 Portfolio (Series ID: S000061759)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000199999 | Class 1      |  |
| C000200000 | Class 3      |  |

### SA Fidelity Institutional AM International Growth Portfolio (Series ID: S000065387)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000211493 | Class 1      |  |
| C000211494 | Class 3      |  |

### SA Franklin Systematic U.S. Large Cap Core Portfolio (Series ID: S000066710)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000214975 | Class 3      |  |
| C000214976 | Class 1      |  |

### SA BlackRock Multi-Factor 70/30 Portfolio (Series ID: S000069676)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000222243 | Class 1      |  |
| C000222244 | Class 3      |  |

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#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

------

#### FORM N-CSR

------

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

#### Investment Company Act file number

#### 811-07238

#### SUNAMERICA SERIES TRUST
(Exact name of registrant as specified in charter)

------

21650 Oxnard Street, Woodland Hills, CA 91367

(Address of principal executive offices)

John T. Genoy, President

SunAmerica Asset Management, LLC

30 Hudson Street, 16th Floor

Jersey City, NJ 07302

(Name and address of agent for service)

#### Registrant's telephone number, including area code:
&nbsp;&nbsp;&nbsp;&nbsp;(201) 324-6414

#### Date of fiscal year end:

#### January 31

#### Date of reporting period:

#### July 31, 2025

#### Item 1. Reports to Stockholders.
(a) The following is a copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Investment Company Act of 1940:

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA AB Growth

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA AB Growth Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA AB Growth Portfolio (Class 1)\* | $32 | 0.63%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1,858M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;56 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$5.2M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;14% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Semiconductors | 24.4% |
| Internet | 23.9% |
| Software | 15.8% |
| Retail | 7.1% |
| Diversified Financial Services | 5.6% |
| Healthcare-Products | 3.8% |
| Pharmaceuticals | 3.3% |
| Beverages | 2.3% |
| Commercial Services | 1.9% |
| Biotechnology | 1.6% |
| Telecommunications | 1.4% |
| Chemicals | 1.2% |
| Distribution/Wholesale | 1.0% |
| Machinery-Diversified | 1.0% |
| Insurance | 0.9% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995200.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T774 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA AB Growth

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA AB Growth Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA AB Growth Portfolio (Class 2)\* | $40 | 0.78%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1,858M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;56 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$5.2M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;14% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Semiconductors | 24.4% |
| Internet | 23.9% |
| Software | 15.8% |
| Retail | 7.1% |
| Diversified Financial Services | 5.6% |
| Healthcare-Products | 3.8% |
| Pharmaceuticals | 3.3% |
| Beverages | 2.3% |
| Commercial Services | 1.9% |
| Biotechnology | 1.6% |
| Telecommunications | 1.4% |
| Chemicals | 1.2% |
| Distribution/Wholesale | 1.0% |
| Machinery-Diversified | 1.0% |
| Insurance | 0.9% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995201.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T576 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA AB Growth

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA AB Growth Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA AB Growth Portfolio (Class 3)\* | $45 | 0.88%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1,858M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;56 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$5.2M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;14% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Semiconductors | 24.4% |
| Internet | 23.9% |
| Software | 15.8% |
| Retail | 7.1% |
| Diversified Financial Services | 5.6% |
| Healthcare-Products | 3.8% |
| Pharmaceuticals | 3.3% |
| Beverages | 2.3% |
| Commercial Services | 1.9% |
| Biotechnology | 1.6% |
| Telecommunications | 1.4% |
| Chemicals | 1.2% |
| Distribution/Wholesale | 1.0% |
| Machinery-Diversified | 1.0% |
| Insurance | 0.9% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995202.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T568 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA AB Small & Mid Cap Value

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA AB Small & Mid Cap Value Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### This report describes changes to the Portfolio that occurred during the reporting period.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA AB Small & Mid Cap Value Portfolio (Class 1)\* | $44 | 0.91%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$476M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;92 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$2.0M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;44% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 9.6% |
| Retail | 7.0% |
| REITS | 6.6% |
| Commercial Services | 6.6% |
| Computers | 6.0% |
| Transportation | 4.4% |
| Healthcare-Services | 4.3% |
| Diversified Financial Services | 3.6% |
| Oil & Gas | 3.4% |
| Healthcare-Products | 3.4% |
| Insurance | 2.8% |
| Semiconductors | 2.8% |
| Machinery-Diversified | 2.5% |
| Chemicals | 2.5% |
| Packaging & Containers | 2.3% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995203.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C671 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA AB Small & Mid Cap Value

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA AB Small & Mid Cap Value Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### This report describes changes to the Portfolio that occurred during the reporting period.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA AB Small & Mid Cap Value Portfolio (Class 2)\* | $51 | 1.06%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$476M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;92 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$2.0M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;44% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 9.6% |
| Retail | 7.0% |
| REITS | 6.6% |
| Commercial Services | 6.6% |
| Computers | 6.0% |
| Transportation | 4.4% |
| Healthcare-Services | 4.3% |
| Diversified Financial Services | 3.6% |
| Oil & Gas | 3.4% |
| Healthcare-Products | 3.4% |
| Insurance | 2.8% |
| Semiconductors | 2.8% |
| Machinery-Diversified | 2.5% |
| Chemicals | 2.5% |
| Packaging & Containers | 2.3% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995204.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T642 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA AB Small & Mid Cap Value

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA AB Small & Mid Cap Value Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### This report describes changes to the Portfolio that occurred during the reporting period.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA AB Small & Mid Cap Value Portfolio (Class 3)\* | $56 | 1.16%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$476M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;92 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$2.0M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;44% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 9.6% |
| Retail | 7.0% |
| REITS | 6.6% |
| Commercial Services | 6.6% |
| Computers | 6.0% |
| Transportation | 4.4% |
| Healthcare-Services | 4.3% |
| Diversified Financial Services | 3.6% |
| Oil & Gas | 3.4% |
| Healthcare-Products | 3.4% |
| Insurance | 2.8% |
| Semiconductors | 2.8% |
| Machinery-Diversified | 2.5% |
| Chemicals | 2.5% |
| Packaging & Containers | 2.3% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995324.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T295 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA BlackRock Multi-Factor 70/30

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA BlackRock Multi-Factor 70/30 Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA BlackRock Multi-Factor 70/30 Portfolio (Class 1)\* | $18 | 0.35%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$115M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;14 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.1M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;57% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995325.jpg)

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704H795 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA BlackRock Multi-Factor 70/30

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA BlackRock Multi-Factor 70/30 Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA BlackRock Multi-Factor 70/30 Portfolio (Class 3)\* | $30 | 0.60%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$115M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;14 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.1M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;57% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995326.jpg)

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704H787 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Emerging Markets Equity Index

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Emerging Markets Equity Index Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Emerging Markets Equity Index Portfolio (Class 1)\* | $31 | 0.58%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$104M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1005 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.2M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;12% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Semiconductors | 16.9% |
| Banks | 16.7% |
| Internet | 13.5% |
| Diversified Financial Services | 4.6% |
| Telecommunications | 4.3% |
| Oil & Gas | 4.0% |
| Auto Manufacturers | 3.0% |
| Insurance | 2.7% |
| Computers | 2.6% |
| Mining | 2.2% |
| Electronics | 2.2% |
| Retail | 1.9% |
| Pharmaceuticals | 1.9% |
| Electric | 1.7% |
| Real Estate | 1.6% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995321.jpg)

**Country**

![Graphical Representation - Allocation 2 Chart](chartimages_995162.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704H506 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Emerging Markets Equity Index

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Emerging Markets Equity Index Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Emerging Markets Equity Index Portfolio (Class 3)\* | $44 | 0.83%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$104M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1005 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.2M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;12% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Semiconductors | 16.9% |
| Banks | 16.7% |
| Internet | 13.5% |
| Diversified Financial Services | 4.6% |
| Telecommunications | 4.3% |
| Oil & Gas | 4.0% |
| Auto Manufacturers | 3.0% |
| Insurance | 2.7% |
| Computers | 2.6% |
| Mining | 2.2% |
| Electronics | 2.2% |
| Retail | 1.9% |
| Pharmaceuticals | 1.9% |
| Electric | 1.7% |
| Real Estate | 1.6% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995322.jpg)

**Country**

![Graphical Representation - Allocation 2 Chart](chartimages_995163.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704H605 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Federated Hermes Corporate Bond

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Federated Hermes Corporate Bond Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Federated Hermes Corporate Bond Portfolio (Class 1)\* | $28 | 0.55%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1,533M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;812 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$3.8M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;11% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio as of the end of the period.

**Top Industries\* (% of net assets)**

---

| | |
|:---|:---|
| Banks | 17.1% |
| Short-Term Investments | 5.1% |
| Telecommunications | 5.1% |
| Electric | 4.9% |
| U.S. Government & Agency Obligations | 4.5% |
| Pharmaceuticals | 4.3% |
| Software | 3.5% |
| Oil & Gas | 3.3% |
| Pipelines | 3.3% |
| Media | 3.1% |
| Commercial Services | 2.8% |
| Computers | 2.6% |
| Beverages | 2.6% |
| Retail | 2.5% |
| Insurance | 2.4% |

---

**Portfolio Composition (% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_995323.jpg)

**Credit Quality <sup>\*\*</sup> (% of total debt issues)**

![Graphical Representation - Allocation 2 Chart](chartimages_995164.jpg)

*\* Percentages exclude derivatives (other than purchased options), if any.*

*\*\* Credit quality ratings shown above reflect the rating assigned by Moody's Investors Service, Inc. Where Moody's ratings are not available, we have used Standard & Poor's ratings. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. Percentages exclude short-term securities.*

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T501 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Federated Hermes Corporate Bond

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Federated Hermes Corporate Bond Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Federated Hermes Corporate Bond Portfolio (Class 2)\* | $35 | 0.70%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1,533M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;812 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$3.8M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;11% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio as of the end of the period.

**Top Industries\* (% of net assets)**

---

| | |
|:---|:---|
| Banks | 17.1% |
| Short-Term Investments | 5.1% |
| Telecommunications | 5.1% |
| Electric | 4.9% |
| U.S. Government & Agency Obligations | 4.5% |
| Pharmaceuticals | 4.3% |
| Software | 3.5% |
| Oil & Gas | 3.3% |
| Pipelines | 3.3% |
| Media | 3.1% |
| Commercial Services | 2.8% |
| Computers | 2.6% |
| Beverages | 2.6% |
| Retail | 2.5% |
| Insurance | 2.4% |

---

**Portfolio Composition (% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_995312.jpg)

**Credit Quality <sup>\*\*</sup> (% of total debt issues)**

![Graphical Representation - Allocation 2 Chart](chartimages_995165.jpg)

*\* Percentages exclude derivatives (other than purchased options), if any.*

*\*\* Credit quality ratings shown above reflect the rating assigned by Moody's Investors Service, Inc. Where Moody's ratings are not available, we have used Standard & Poor's ratings. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. Percentages exclude short-term securities.*

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T519 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Federated Hermes Corporate Bond

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Federated Hermes Corporate Bond Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Federated Hermes Corporate Bond Portfolio (Class 3)\* | $40 | 0.80%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1,533M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;812 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$3.8M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;11% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio as of the end of the period.

**Top Industries\* (% of net assets)**

---

| | |
|:---|:---|
| Banks | 17.1% |
| Short-Term Investments | 5.1% |
| Telecommunications | 5.1% |
| Electric | 4.9% |
| U.S. Government & Agency Obligations | 4.5% |
| Pharmaceuticals | 4.3% |
| Software | 3.5% |
| Oil & Gas | 3.3% |
| Pipelines | 3.3% |
| Media | 3.1% |
| Commercial Services | 2.8% |
| Computers | 2.6% |
| Beverages | 2.6% |
| Retail | 2.5% |
| Insurance | 2.4% |

---

**Portfolio Composition (% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_995313.jpg)

**Credit Quality <sup>\*\*</sup> (% of total debt issues)**

![Graphical Representation - Allocation 2 Chart](chartimages_995154.jpg)

*\* Percentages exclude derivatives (other than purchased options), if any.*

*\*\* Credit quality ratings shown above reflect the rating assigned by Moody's Investors Service, Inc. Where Moody's ratings are not available, we have used Standard & Poor's ratings. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. Percentages exclude short-term securities.*

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T493 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Fidelity Institutional AM<sup>®</sup> Global Equities (formerly SA JPMorgan Global Equities Portfolio)

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Fidelity Institutional AM<sup>®</sup> Global Equities Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Fidelity Institutional AM<sup>®</sup> Global Equities Portfolio (Class 1)\* | $42 | 0.82%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$340M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;346 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.2M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;84% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Internet | 10.5% |
| Banks | 9.1% |
| Semiconductors | 8.9% |
| Software | 8.8% |
| Computers | 5.6% |
| Repurchase Agreements | 4.4% |
| Pharmaceuticals | 3.5% |
| Diversified Financial Services | 3.4% |
| Insurance | 3.1% |
| Aerospace/Defense | 2.8% |
| Telecommunications | 2.8% |
| Oil & Gas | 2.7% |
| Biotechnology | 2.6% |
| Electric | 2.1% |
| Beverages | 2.0% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995266.jpg)

**Country**

![Graphical Representation - Allocation 2 Chart](chartimages_995107.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T717 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Fidelity Institutional AM<sup>®</sup> Global Equities (formerly SA JPMorgan Global Equities Portfolio)

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Fidelity Institutional AM<sup>®</sup> Global Equities Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Fidelity Institutional AM<sup>®</sup> Global Equities Portfolio (Class 2)\* | $50 | 0.97%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$340M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;346 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.2M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;84% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Internet | 10.5% |
| Banks | 9.1% |
| Semiconductors | 8.9% |
| Software | 8.8% |
| Computers | 5.6% |
| Repurchase Agreements | 4.4% |
| Pharmaceuticals | 3.5% |
| Diversified Financial Services | 3.4% |
| Insurance | 3.1% |
| Aerospace/Defense | 2.8% |
| Telecommunications | 2.8% |
| Oil & Gas | 2.7% |
| Biotechnology | 2.6% |
| Electric | 2.1% |
| Beverages | 2.0% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995267.jpg)

**Country**

![Graphical Representation - Allocation 2 Chart](chartimages_995108.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T360 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Fidelity Institutional AM<sup>®</sup> Global Equities (formerly SA JPMorgan Global Equities Portfolio)

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Fidelity Institutional AM<sup>®</sup> Global Equities Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Fidelity Institutional AM<sup>®</sup> Global Equities Portfolio (Class 3)\* | $55 | 1.07%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$340M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;346 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.2M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;84% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Internet | 10.5% |
| Banks | 9.1% |
| Semiconductors | 8.9% |
| Software | 8.8% |
| Computers | 5.6% |
| Repurchase Agreements | 4.4% |
| Pharmaceuticals | 3.5% |
| Diversified Financial Services | 3.4% |
| Insurance | 3.1% |
| Aerospace/Defense | 2.8% |
| Telecommunications | 2.8% |
| Oil & Gas | 2.7% |
| Biotechnology | 2.6% |
| Electric | 2.1% |
| Beverages | 2.0% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995268.jpg)

**Country**

![Graphical Representation - Allocation 2 Chart](chartimages_995109.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T352 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Fidelity Institutional AM<sup>®</sup> International Growth

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Fidelity Institutional AM<sup>®</sup> International Growth Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Fidelity Institutional AM<sup>®</sup> International Growth Portfolio (Class 1)\* | $47 | 0.89%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$265M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;61 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.9M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;64% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 9.6% |
| Internet | 9.5% |
| Aerospace/Defense | 8.8% |
| Building Materials | 8.7% |
| Semiconductors | 8.3% |
| Diversified Financial Services | 7.1% |
| Machinery-Construction & Mining | 6.1% |
| Software | 5.8% |
| Insurance | 5.8% |
| Commercial Services | 5.6% |
| Electrical Components & Equipment | 3.8% |
| Engineering & Construction | 2.9% |
| Chemicals | 2.7% |
| Electric | 1.9% |
| Transportation | 1.6% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995205.jpg)

**Country**

![Graphical Representation - Allocation 2 Chart](chartimages_995057.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704H845 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Fidelity Institutional AM<sup>®</sup> International Growth

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Fidelity Institutional AM<sup>®</sup> International Growth Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Fidelity Institutional AM<sup>®</sup> International Growth Portfolio (Class 3)\* | $60 | 1.14%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$265M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;61 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.9M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;64% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 9.6% |
| Internet | 9.5% |
| Aerospace/Defense | 8.8% |
| Building Materials | 8.7% |
| Semiconductors | 8.3% |
| Diversified Financial Services | 7.1% |
| Machinery-Construction & Mining | 6.1% |
| Software | 5.8% |
| Insurance | 5.8% |
| Commercial Services | 5.6% |
| Electrical Components & Equipment | 3.8% |
| Engineering & Construction | 2.9% |
| Chemicals | 2.7% |
| Electric | 1.9% |
| Transportation | 1.6% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995215.jpg)

**Country**

![Graphical Representation - Allocation 2 Chart](chartimages_995056.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704H837 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Fidelity Institutional AM<sup>®</sup> Real Estate

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Fidelity Institutional AM<sup>®</sup> Real Estate Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Fidelity Institutional AM<sup>®</sup> Real Estate Portfolio (Class 1)\* | $41 | 0.85%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$247M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;32 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.9M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;20% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| REITS | 97.4% |
| Real Estate | 1.2% |
| Internet | 1.1% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995314.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T204 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Fidelity Institutional AM<sup>®</sup> Real Estate

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Fidelity Institutional AM<sup>®</sup> Real Estate Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Fidelity Institutional AM<sup>®</sup> Real Estate Portfolio (Class 2)\* | $49 | 1.00%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$247M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;32 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.9M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;20% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| REITS | 97.4% |
| Real Estate | 1.2% |
| Internet | 1.1% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995315.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T329 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Fidelity Institutional AM<sup>®</sup> Real Estate

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Fidelity Institutional AM<sup>®</sup> Real Estate Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Fidelity Institutional AM<sup>®</sup> Real Estate Portfolio (Class 3)\* | $54 | 1.10%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$247M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;32 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.9M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;20% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| REITS | 97.4% |
| Real Estate | 1.2% |
| Internet | 1.1% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995316.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T311 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Fixed Income Index

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Fixed Income Index Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Fixed Income Index Portfolio (Class 1)\* | $17 | 0.34%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$552M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1252 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.8M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;66% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio as of the end of the period.

**Top Industries\* (% of net assets)**

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 53.6% |
| Banks | 7.7% |
| Unaffiliated Investment Companies | 6.9% |
| Electric | 2.7% |
| Foreign Government Obligations | 2.4% |
| Multi-National | 1.8% |
| Pharmaceuticals | 1.5% |
| Telecommunications | 1.5% |
| Diversified Financial Services | 1.4% |
| Healthcare-Services | 1.3% |
| REITS | 1.2% |
| Pipelines | 1.2% |
| Oil & Gas | 1.0% |
| Retail | 0.9% |
| Software | 0.9% |

---

**Portfolio Composition (% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_995317.jpg)

**Credit Quality <sup>\*\*</sup> (% of total debt issues)**

![Graphical Representation - Allocation 2 Chart](chartimages_995158.jpg)

*\* Percentages exclude derivatives (other than purchased options), if any.*

*\*\* Credit quality ratings shown above reflect the rating assigned by Moody's Investors Service, Inc. Where Moody's ratings are not available, we have used Standard & Poor's ratings. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. Percentages exclude short-term securities.*

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C119 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Fixed Income Index

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Fixed Income Index Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Fixed Income Index Portfolio (Class 3)\* | $30 | 0.59%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$552M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1252 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.8M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;66% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio as of the end of the period.

**Top Industries\* (% of net assets)**

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 53.6% |
| Banks | 7.7% |
| Unaffiliated Investment Companies | 6.9% |
| Electric | 2.7% |
| Foreign Government Obligations | 2.4% |
| Multi-National | 1.8% |
| Pharmaceuticals | 1.5% |
| Telecommunications | 1.5% |
| Diversified Financial Services | 1.4% |
| Healthcare-Services | 1.3% |
| REITS | 1.2% |
| Pipelines | 1.2% |
| Oil & Gas | 1.0% |
| Retail | 0.9% |
| Software | 0.9% |

---

**Portfolio Composition (% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_995306.jpg)

**Credit Quality <sup>\*\*</sup> (% of total debt issues)**

![Graphical Representation - Allocation 2 Chart](chartimages_995159.jpg)

*\* Percentages exclude derivatives (other than purchased options), if any.*

*\*\* Credit quality ratings shown above reflect the rating assigned by Moody's Investors Service, Inc. Where Moody's ratings are not available, we have used Standard & Poor's ratings. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. Percentages exclude short-term securities.*

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C127 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Fixed Income Intermediate Index

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Fixed Income Intermediate Index Portfolio (Class 1)\* | $17 | 0.33%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$494M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1009 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.7M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;70% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio as of the end of the period.

**Top Industries\* (% of net assets)**

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 54.1% |
| Banks | 9.4% |
| Unaffiliated Investment Companies | 8.7% |
| Multi-National | 2.7% |
| Electric | 2.3% |
| Foreign Government Obligations | 2.2% |
| Pharmaceuticals | 1.4% |
| REITS | 1.3% |
| Diversified Financial Services | 1.2% |
| Telecommunications | 1.0% |
| Short-Term Investments | 1.0% |
| Oil & Gas | 0.9% |
| Auto Manufacturers | 0.9% |
| Pipelines | 0.9% |
| Semiconductors | 0.8% |

---

**Portfolio Composition (% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_995307.jpg)

**Credit Quality <sup>\*\*</sup> (% of total debt issues)**

![Graphical Representation - Allocation 2 Chart](chartimages_995148.jpg)

*\* Percentages exclude derivatives (other than purchased options), if any.*

*\*\* Credit quality ratings shown above reflect the rating assigned by Moody's Investors Service, Inc. Where Moody's ratings are not available, we have used Standard & Poor's ratings. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. Percentages exclude short-term securities.*

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C424 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Fixed Income Intermediate Index

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Fixed Income Intermediate Index Portfolio (Class 3)\* | $29 | 0.58%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$494M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1009 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.7M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;70% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio as of the end of the period.

**Top Industries\* (% of net assets)**

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 54.1% |
| Banks | 9.4% |
| Unaffiliated Investment Companies | 8.7% |
| Multi-National | 2.7% |
| Electric | 2.3% |
| Foreign Government Obligations | 2.2% |
| Pharmaceuticals | 1.4% |
| REITS | 1.3% |
| Diversified Financial Services | 1.2% |
| Telecommunications | 1.0% |
| Short-Term Investments | 1.0% |
| Oil & Gas | 0.9% |
| Auto Manufacturers | 0.9% |
| Pipelines | 0.9% |
| Semiconductors | 0.8% |

---

**Portfolio Composition (% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_995308.jpg)

**Credit Quality <sup>\*\*</sup> (% of total debt issues)**

![Graphical Representation - Allocation 2 Chart](chartimages_995149.jpg)

*\* Percentages exclude derivatives (other than purchased options), if any.*

*\*\* Credit quality ratings shown above reflect the rating assigned by Moody's Investors Service, Inc. Where Moody's ratings are not available, we have used Standard & Poor's ratings. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. Percentages exclude short-term securities.*

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C416 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Franklin BW U.S. Large Cap Value

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Franklin BW U.S. Large Cap Value Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Franklin BW U.S. Large Cap Value Portfolio (Class 1)\* | $35 | 0.70%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1,212M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;221 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$3.9M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;40% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 20.5% |
| Pharmaceuticals | 7.5% |
| Insurance | 7.5% |
| Telecommunications | 6.9% |
| Media | 4.0% |
| Biotechnology | 3.8% |
| Electric | 3.4% |
| Retail | 3.2% |
| Healthcare-Services | 2.9% |
| Food | 2.7% |
| Diversified Financial Services | 2.4% |
| Machinery-Construction & Mining | 2.4% |
| Aerospace/Defense | 2.3% |
| Auto Manufacturers | 2.2% |
| Oil & Gas | 2.2% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995257.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T790 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Franklin BW U.S. Large Cap Value

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Franklin BW U.S. Large Cap Value Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Franklin BW U.S. Large Cap Value Portfolio (Class 2)\* | $42 | 0.85%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1,212M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;221 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$3.9M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;40% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 20.5% |
| Pharmaceuticals | 7.5% |
| Insurance | 7.5% |
| Telecommunications | 6.9% |
| Media | 4.0% |
| Biotechnology | 3.8% |
| Electric | 3.4% |
| Retail | 3.2% |
| Healthcare-Services | 2.9% |
| Food | 2.7% |
| Diversified Financial Services | 2.4% |
| Machinery-Construction & Mining | 2.4% |
| Aerospace/Defense | 2.3% |
| Auto Manufacturers | 2.2% |
| Oil & Gas | 2.2% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995246.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T485 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Franklin BW U.S. Large Cap Value

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Franklin BW U.S. Large Cap Value Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Franklin BW U.S. Large Cap Value Portfolio (Class 3)\* | $47 | 0.95%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1,212M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;221 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$3.9M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;40% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 20.5% |
| Pharmaceuticals | 7.5% |
| Insurance | 7.5% |
| Telecommunications | 6.9% |
| Media | 4.0% |
| Biotechnology | 3.8% |
| Electric | 3.4% |
| Retail | 3.2% |
| Healthcare-Services | 2.9% |
| Food | 2.7% |
| Diversified Financial Services | 2.4% |
| Machinery-Construction & Mining | 2.4% |
| Aerospace/Defense | 2.3% |
| Auto Manufacturers | 2.2% |
| Oil & Gas | 2.2% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995247.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T477 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Franklin Small Company Value

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Franklin Small Company Value Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Franklin Small Company Value Portfolio (Class 1)\* | $46 | 0.95%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$283M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;82 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.2M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;28% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 16.2% |
| Machinery-Diversified | 8.6% |
| Electronics | 8.0% |
| Insurance | 7.5% |
| Chemicals | 4.4% |
| Diversified Financial Services | 4.3% |
| Metal Fabricate/Hardware | 4.0% |
| Aerospace/Defense | 3.8% |
| Lodging | 3.4% |
| Healthcare-Products | 3.4% |
| Commercial Services | 2.9% |
| Software | 2.9% |
| Iron/Steel | 2.7% |
| Retail | 2.5% |
| REITS | 2.5% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995309.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T741 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Franklin Small Company Value

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Franklin Small Company Value Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Franklin Small Company Value Portfolio (Class 3)\* | $59 | 1.20%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$283M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;82 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.2M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;28% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 16.2% |
| Machinery-Diversified | 8.6% |
| Electronics | 8.0% |
| Insurance | 7.5% |
| Chemicals | 4.4% |
| Diversified Financial Services | 4.3% |
| Metal Fabricate/Hardware | 4.0% |
| Aerospace/Defense | 3.8% |
| Lodging | 3.4% |
| Healthcare-Products | 3.4% |
| Commercial Services | 2.9% |
| Software | 2.9% |
| Iron/Steel | 2.7% |
| Retail | 2.5% |
| REITS | 2.5% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995310.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T287 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Franklin Systematic U.S. Large Cap Core

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Franklin Systematic U.S. Large Cap Core Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Franklin Systematic U.S. Large Cap Core Portfolio (Class 1)\* | $27 | 0.53%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$311M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;182 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.7M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;42% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Internet | 16.9% |
| Semiconductors | 14.0% |
| Software | 12.5% |
| Computers | 7.5% |
| Banks | 4.2% |
| Pharmaceuticals | 3.9% |
| Biotechnology | 3.7% |
| Insurance | 3.6% |
| Retail | 2.9% |
| Diversified Financial Services | 2.9% |
| Aerospace/Defense | 2.7% |
| Auto Manufacturers | 2.6% |
| Telecommunications | 2.2% |
| Electric | 1.9% |
| Healthcare-Products | 1.9% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995311.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704H829 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Franklin Systematic U.S. Large Cap Core

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Franklin Systematic U.S. Large Cap Core Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Franklin Systematic U.S. Large Cap Core Portfolio (Class 3)\* | $39 | 0.78%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$311M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;182 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.7M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;42% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Internet | 16.9% |
| Semiconductors | 14.0% |
| Software | 12.5% |
| Computers | 7.5% |
| Banks | 4.2% |
| Pharmaceuticals | 3.9% |
| Biotechnology | 3.7% |
| Insurance | 3.6% |
| Retail | 2.9% |
| Diversified Financial Services | 2.9% |
| Aerospace/Defense | 2.7% |
| Auto Manufacturers | 2.6% |
| Telecommunications | 2.2% |
| Electric | 1.9% |
| Healthcare-Products | 1.9% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995300.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704H811 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Franklin Systematic U.S. Large Cap Value

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Franklin Systematic U.S. Large Cap Value Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Franklin Systematic U.S. Large Cap Value Portfolio (Class 1)\* | $32 | 0.64%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$566M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;144 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.6M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;42% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 13.1% |
| Insurance | 7.1% |
| Healthcare-Products | 5.7% |
| Internet | 5.4% |
| Retail | 5.3% |
| Telecommunications | 4.8% |
| Oil & Gas | 3.4% |
| Software | 3.1% |
| Electric | 3.1% |
| REITS | 3.1% |
| Biotechnology | 2.8% |
| Semiconductors | 2.7% |
| Diversified Financial Services | 2.6% |
| Building Materials | 2.5% |
| Auto Manufacturers | 2.3% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995318.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T782 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Franklin Systematic U.S. Large Cap Value

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Franklin Systematic U.S. Large Cap Value Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Franklin Systematic U.S. Large Cap Value Portfolio (Class 2)\* | $39 | 0.79%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$566M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;144 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.6M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;42% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 13.1% |
| Insurance | 7.1% |
| Healthcare-Products | 5.7% |
| Internet | 5.4% |
| Retail | 5.3% |
| Telecommunications | 4.8% |
| Oil & Gas | 3.4% |
| Software | 3.1% |
| Electric | 3.1% |
| REITS | 3.1% |
| Biotechnology | 2.8% |
| Semiconductors | 2.7% |
| Diversified Financial Services | 2.6% |
| Building Materials | 2.5% |
| Auto Manufacturers | 2.3% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995319.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T469 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Franklin Systematic U.S. Large Cap Value

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Franklin Systematic U.S. Large Cap Value Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Franklin Systematic U.S. Large Cap Value Portfolio (Class 3)\* | $44 | 0.89%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$566M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;144 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.6M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;42% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 13.1% |
| Insurance | 7.1% |
| Healthcare-Products | 5.7% |
| Internet | 5.4% |
| Retail | 5.3% |
| Telecommunications | 4.8% |
| Oil & Gas | 3.4% |
| Software | 3.1% |
| Electric | 3.1% |
| REITS | 3.1% |
| Biotechnology | 2.8% |
| Semiconductors | 2.7% |
| Diversified Financial Services | 2.6% |
| Building Materials | 2.5% |
| Auto Manufacturers | 2.3% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995320.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T451 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Franklin Tactical Opportunities

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Franklin Tactical Opportunities Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Franklin Tactical Opportunities Portfolio (Class 1)\* | $41 | 0.81%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$105M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1079 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.4M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;51% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 17.8% |
| Internet | 7.6% |
| Semiconductors | 6.5% |
| Banks | 6.3% |
| Software | 5.9% |
| Unaffiliated Investment Companies | 5.3% |
| Pharmaceuticals | 4.0% |
| Collateralized Mortgage Obligations | 3.4% |
| Short-Term Investments | 3.3% |
| Insurance | 3.2% |
| Retail | 3.0% |
| Telecommunications | 2.7% |
| Diversified Financial Services | 2.6% |
| Computers | 2.4% |
| Aerospace/Defense | 1.9% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995248.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C440 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Franklin Tactical Opportunities

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Franklin Tactical Opportunities Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Franklin Tactical Opportunities Portfolio (Class 3)\* | $54 | 1.06%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$105M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1079 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.4M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;51% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 17.8% |
| Internet | 7.6% |
| Semiconductors | 6.5% |
| Banks | 6.3% |
| Software | 5.9% |
| Unaffiliated Investment Companies | 5.3% |
| Pharmaceuticals | 4.0% |
| Collateralized Mortgage Obligations | 3.4% |
| Short-Term Investments | 3.3% |
| Insurance | 3.2% |
| Retail | 3.0% |
| Telecommunications | 2.7% |
| Diversified Financial Services | 2.6% |
| Computers | 2.4% |
| Aerospace/Defense | 1.9% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995249.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C432 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Global Index Allocation 60/40

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Global Index Allocation 60/40 Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Global Index Allocation 60/40 Portfolio (Class 1)\* | $9 | 0.18%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$106M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;7 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.1M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;7% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995301.jpg)

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704H704 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Global Index Allocation 60/40

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Global Index Allocation 60/40 Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Global Index Allocation 60/40 Portfolio (Class 3)\* | $22 | 0.43%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$106M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;7 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.1M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;7% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995302.jpg)

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704H803 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Global Index Allocation 75/25

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Global Index Allocation 75/25 Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Global Index Allocation 75/25 Portfolio (Class 1)\* | $9 | 0.18%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$108M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;7 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.1M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;6% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995303.jpg)

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704H886 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Global Index Allocation 75/25

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Global Index Allocation 75/25 Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Global Index Allocation 75/25 Portfolio (Class 3)\* | $22 | 0.43%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$108M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;7 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.1M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;6% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995304.jpg)

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704H878 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Global Index Allocation 90/10

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Global Index Allocation 90/10 Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Global Index Allocation 90/10 Portfolio (Class 1)\* | $7 | 0.13%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$397M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;7 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.2M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;5% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995305.jpg)

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704H860 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Global Index Allocation 90/10

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Global Index Allocation 90/10 Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Global Index Allocation 90/10 Portfolio (Class 3)\* | $19 | 0.38%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$397M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;7 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.2M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;5% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995294.jpg)

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704H852 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Goldman Sachs Multi-Asset Insights

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Goldman Sachs Multi-Asset Insights Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Goldman Sachs Multi-Asset Insights Portfolio (Class 1)\* | $42 | 0.83%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$50M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;291 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.2M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;79% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Short-Term Investments | 25.7% |
| Internet | 7.4% |
| Semiconductors | 6.1% |
| Banks | 6.0% |
| Software | 4.7% |
| Diversified Financial Services | 4.0% |
| Insurance | 3.3% |
| Aerospace/Defense | 3.1% |
| Computers | 3.0% |
| Pharmaceuticals | 2.7% |
| Unaffiliated Investment Companies | 2.3% |
| REITS | 2.2% |
| Telecommunications | 2.0% |
| Commercial Services | 1.6% |
| Electronics | 1.6% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995298.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C390 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Goldman Sachs Multi-Asset Insights

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Goldman Sachs Multi-Asset Insights Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Goldman Sachs Multi-Asset Insights Portfolio (Class 3)\* | $55 | 1.08%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$50M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;291 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.2M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;79% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Short-Term Investments | 25.7% |
| Internet | 7.4% |
| Semiconductors | 6.1% |
| Banks | 6.0% |
| Software | 4.7% |
| Diversified Financial Services | 4.0% |
| Insurance | 3.3% |
| Aerospace/Defense | 3.1% |
| Computers | 3.0% |
| Pharmaceuticals | 2.7% |
| Unaffiliated Investment Companies | 2.3% |
| REITS | 2.2% |
| Telecommunications | 2.0% |
| Commercial Services | 1.6% |
| Electronics | 1.6% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995299.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C382 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Index Allocation 60/40

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Index Allocation 60/40 Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Index Allocation 60/40 Portfolio (Class 1)\* | $7 | 0.14%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$273M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;6 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.1M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;4% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995288.jpg)

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C135 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Index Allocation 60/40

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Index Allocation 60/40 Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Index Allocation 60/40 Portfolio (Class 3)\* | $20 | 0.39%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$273M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;6 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.1M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;4% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995289.jpg)

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C143 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Index Allocation 80/20

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Index Allocation 80/20 Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Index Allocation 80/20 Portfolio (Class 1)\* | $6 | 0.12%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$529M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;6 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.3M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;2% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995290.jpg)

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C150 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Index Allocation 80/20

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Index Allocation 80/20 Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Index Allocation 80/20 Portfolio (Class 3)\* | $19 | 0.37%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$529M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;6 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.3M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;2% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995291.jpg)

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C168 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Index Allocation 90/10

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Index Allocation 90/10 Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Index Allocation 90/10 Portfolio (Class 1)\* | $6 | 0.11%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1,489M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;6 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.7M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;2% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995292.jpg)

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C176 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Index Allocation 90/10

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Index Allocation 90/10 Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Index Allocation 90/10 Portfolio (Class 3)\* | $18 | 0.36%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1,489M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;6 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.7M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;2% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995293.jpg)

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C184 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA International Index

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA International Index Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA International Index Portfolio (Class 1)\* | $25 | 0.47%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$967M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;700 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.8M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;11% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 15.5% |
| Pharmaceuticals | 7.2% |
| Insurance | 6.4% |
| Aerospace/Defense | 3.5% |
| Oil & Gas | 3.3% |
| Telecommunications | 3.2% |
| Semiconductors | 3.2% |
| Food | 3.0% |
| Electric | 2.9% |
| Commercial Services | 2.7% |
| Auto Manufacturers | 2.6% |
| Software | 2.6% |
| Machinery-Construction & Mining | 2.2% |
| Chemicals | 2.2% |
| Mining | 2.1% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995282.jpg)

**Country**

![Graphical Representation - Allocation 2 Chart](chartimages_995135.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C192 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA International Index

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA International Index Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA International Index Portfolio (Class 3)\* | $38 | 0.72%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$967M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;700 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.8M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;11% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 15.5% |
| Pharmaceuticals | 7.2% |
| Insurance | 6.4% |
| Aerospace/Defense | 3.5% |
| Oil & Gas | 3.3% |
| Telecommunications | 3.2% |
| Semiconductors | 3.2% |
| Food | 3.0% |
| Electric | 2.9% |
| Commercial Services | 2.7% |
| Auto Manufacturers | 2.6% |
| Software | 2.6% |
| Machinery-Construction & Mining | 2.2% |
| Chemicals | 2.2% |
| Mining | 2.1% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995283.jpg)

**Country**

![Graphical Representation - Allocation 2 Chart](chartimages_995124.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C218 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Invesco Growth Opportunities

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Invesco Growth Opportunities Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Invesco Growth Opportunities Portfolio (Class 1)\* | $40 | 0.82%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$282M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;110 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.0M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;58% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Electronics | 8.8% |
| Diversified Financial Services | 6.9% |
| Software | 6.7% |
| Healthcare-Products | 6.6% |
| Retail | 6.0% |
| Biotechnology | 5.3% |
| Semiconductors | 4.7% |
| Aerospace/Defense | 4.2% |
| Machinery-Diversified | 4.0% |
| Commercial Services | 3.9% |
| Miscellaneous Manufacturing | 3.7% |
| Engineering & Construction | 3.5% |
| Healthcare-Services | 3.1% |
| Computers | 3.0% |
| Internet | 2.6% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995284.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T659 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Invesco Growth Opportunities

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Invesco Growth Opportunities Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Invesco Growth Opportunities Portfolio (Class 2)\* | $47 | 0.97%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$282M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;110 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.0M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;58% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Electronics | 8.8% |
| Diversified Financial Services | 6.9% |
| Software | 6.7% |
| Healthcare-Products | 6.6% |
| Retail | 6.0% |
| Biotechnology | 5.3% |
| Semiconductors | 4.7% |
| Aerospace/Defense | 4.2% |
| Machinery-Diversified | 4.0% |
| Commercial Services | 3.9% |
| Miscellaneous Manufacturing | 3.7% |
| Engineering & Construction | 3.5% |
| Healthcare-Services | 3.1% |
| Computers | 3.0% |
| Internet | 2.6% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995285.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C309 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Invesco Growth Opportunities

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Invesco Growth Opportunities Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Invesco Growth Opportunities Portfolio (Class 3)\* | $52 | 1.07%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$282M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;110 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.0M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;58% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Electronics | 8.8% |
| Diversified Financial Services | 6.9% |
| Software | 6.7% |
| Healthcare-Products | 6.6% |
| Retail | 6.0% |
| Biotechnology | 5.3% |
| Semiconductors | 4.7% |
| Aerospace/Defense | 4.2% |
| Machinery-Diversified | 4.0% |
| Commercial Services | 3.9% |
| Miscellaneous Manufacturing | 3.7% |
| Engineering & Construction | 3.5% |
| Healthcare-Services | 3.1% |
| Computers | 3.0% |
| Internet | 2.6% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995286.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C408 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Janus Focused Growth

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Janus Focused Growth Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Janus Focused Growth Portfolio (Class 1)\* | $42 | 0.80%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$523M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;34 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.7M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;22% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Internet | 24.3% |
| Semiconductors | 21.6% |
| Software | 20.6% |
| Diversified Financial Services | 4.9% |
| Aerospace/Defense | 3.6% |
| Computers | 3.5% |
| Pharmaceuticals | 3.5% |
| Private Equity | 3.2% |
| Biotechnology | 2.5% |
| Entertainment | 2.4% |
| Electrical Components & Equipment | 2.1% |
| Healthcare-Products | 2.1% |
| Beverages | 1.7% |
| REITS | 1.1% |
| Healthcare-Services | 1.1% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995278.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C861 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Janus Focused Growth

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Janus Focused Growth Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Janus Focused Growth Portfolio (Class 2)\* | $50 | 0.95%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$523M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;34 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.7M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;22% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Internet | 24.3% |
| Semiconductors | 21.6% |
| Software | 20.6% |
| Diversified Financial Services | 4.9% |
| Aerospace/Defense | 3.6% |
| Computers | 3.5% |
| Pharmaceuticals | 3.5% |
| Private Equity | 3.2% |
| Biotechnology | 2.5% |
| Entertainment | 2.4% |
| Electrical Components & Equipment | 2.1% |
| Healthcare-Products | 2.1% |
| Beverages | 1.7% |
| REITS | 1.1% |
| Healthcare-Services | 1.1% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995279.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C853 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Janus Focused Growth

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Janus Focused Growth Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Janus Focused Growth Portfolio (Class 3)\* | $55 | 1.05%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$523M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;34 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.7M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;22% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Internet | 24.3% |
| Semiconductors | 21.6% |
| Software | 20.6% |
| Diversified Financial Services | 4.9% |
| Aerospace/Defense | 3.6% |
| Computers | 3.5% |
| Pharmaceuticals | 3.5% |
| Private Equity | 3.2% |
| Biotechnology | 2.5% |
| Entertainment | 2.4% |
| Electrical Components & Equipment | 2.1% |
| Healthcare-Products | 2.1% |
| Beverages | 1.7% |
| REITS | 1.1% |
| Healthcare-Services | 1.1% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995280.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C846 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA JPMorgan Diversified Balanced

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA JPMorgan Diversified Balanced Portfolio (Class 1)\* | $36 | 0.71%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$429M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1614 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.2M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;31% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 10.3% |
| U.S. Government & Agency Obligations | 8.3% |
| Internet | 6.7% |
| Semiconductors | 6.4% |
| Software | 5.6% |
| Unaffiliated Investment Companies | 4.3% |
| Other Asset Backed Securities | 3.6% |
| Diversified Financial Services | 3.5% |
| Electric | 3.3% |
| Pharmaceuticals | 3.2% |
| Retail | 3.2% |
| Short-Term Investments | 2.5% |
| Collateralized Mortgage Obligations | 2.5% |
| Computers | 2.4% |
| Insurance | 2.2% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995281.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T881 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA JPMorgan Diversified Balanced

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA JPMorgan Diversified Balanced Portfolio (Class 2)\* | $44 | 0.86%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$429M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1614 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.2M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;31% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 10.3% |
| U.S. Government & Agency Obligations | 8.3% |
| Internet | 6.7% |
| Semiconductors | 6.4% |
| Software | 5.6% |
| Unaffiliated Investment Companies | 4.3% |
| Other Asset Backed Securities | 3.6% |
| Diversified Financial Services | 3.5% |
| Electric | 3.3% |
| Pharmaceuticals | 3.2% |
| Retail | 3.2% |
| Short-Term Investments | 2.5% |
| Collateralized Mortgage Obligations | 2.5% |
| Computers | 2.4% |
| Insurance | 2.2% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995270.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T279 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA JPMorgan Diversified Balanced

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA JPMorgan Diversified Balanced Portfolio (Class 3)\* | $49 | 0.96%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$429M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1614 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.2M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;31% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 10.3% |
| U.S. Government & Agency Obligations | 8.3% |
| Internet | 6.7% |
| Semiconductors | 6.4% |
| Software | 5.6% |
| Unaffiliated Investment Companies | 4.3% |
| Other Asset Backed Securities | 3.6% |
| Diversified Financial Services | 3.5% |
| Electric | 3.3% |
| Pharmaceuticals | 3.2% |
| Retail | 3.2% |
| Short-Term Investments | 2.5% |
| Collateralized Mortgage Obligations | 2.5% |
| Computers | 2.4% |
| Insurance | 2.2% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995271.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T261 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA JPMorgan Emerging Markets

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA JPMorgan Emerging Markets Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA JPMorgan Emerging Markets Portfolio (Class 1)\* | $64 | 1.20%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$198M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;150 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.9M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;41% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 20.2% |
| Semiconductors | 19.0% |
| Internet | 11.8% |
| Insurance | 5.2% |
| Computers | 3.0% |
| Telecommunications | 2.9% |
| Software | 2.8% |
| Diversified Financial Services | 2.6% |
| Auto Manufacturers | 2.5% |
| Airlines | 1.9% |
| Food | 1.8% |
| Retail | 1.8% |
| Oil & Gas | 1.7% |
| Electric | 1.7% |
| Auto Parts & Equipment | 1.6% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995272.jpg)

**Country**

![Graphical Representation - Allocation 2 Chart](chartimages_995113.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T303 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA JPMorgan Emerging Markets

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA JPMorgan Emerging Markets Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA JPMorgan Emerging Markets Portfolio (Class 2)\* | $72 | 1.35%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$198M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;150 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.9M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;41% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 20.2% |
| Semiconductors | 19.0% |
| Internet | 11.8% |
| Insurance | 5.2% |
| Computers | 3.0% |
| Telecommunications | 2.9% |
| Software | 2.8% |
| Diversified Financial Services | 2.6% |
| Auto Manufacturers | 2.5% |
| Airlines | 1.9% |
| Food | 1.8% |
| Retail | 1.8% |
| Oil & Gas | 1.7% |
| Electric | 1.7% |
| Auto Parts & Equipment | 1.6% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995273.jpg)

**Country**

![Graphical Representation - Allocation 2 Chart](chartimages_995114.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T444 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA JPMorgan Emerging Markets

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA JPMorgan Emerging Markets Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA JPMorgan Emerging Markets Portfolio (Class 3)\* | $78 | 1.45%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$198M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;150 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.9M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;41% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 20.2% |
| Semiconductors | 19.0% |
| Internet | 11.8% |
| Insurance | 5.2% |
| Computers | 3.0% |
| Telecommunications | 2.9% |
| Software | 2.8% |
| Diversified Financial Services | 2.6% |
| Auto Manufacturers | 2.5% |
| Airlines | 1.9% |
| Food | 1.8% |
| Retail | 1.8% |
| Oil & Gas | 1.7% |
| Electric | 1.7% |
| Auto Parts & Equipment | 1.6% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995274.jpg)

**Country**

![Graphical Representation - Allocation 2 Chart](chartimages_995115.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T436 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA JPMorgan Equity-Income

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA JPMorgan Equity-Income Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA JPMorgan Equity-Income Portfolio (Class 1)\* | $29 | 0.59%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$829M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;86 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$2.3M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;13% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 12.7% |
| Diversified Financial Services | 8.5% |
| Pharmaceuticals | 8.0% |
| Retail | 7.9% |
| Oil & Gas | 5.9% |
| Electric | 4.6% |
| Semiconductors | 4.3% |
| Machinery-Diversified | 3.5% |
| Aerospace/Defense | 3.5% |
| Insurance | 3.4% |
| Transportation | 3.4% |
| Software | 3.2% |
| REITS | 3.0% |
| Computers | 2.8% |
| Healthcare-Services | 2.5% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995275.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T824 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA JPMorgan Equity-Income

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA JPMorgan Equity-Income Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA JPMorgan Equity-Income Portfolio (Class 2)\* | $37 | 0.74%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$829M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;86 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$2.3M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;13% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 12.7% |
| Diversified Financial Services | 8.5% |
| Pharmaceuticals | 8.0% |
| Retail | 7.9% |
| Oil & Gas | 5.9% |
| Electric | 4.6% |
| Semiconductors | 4.3% |
| Machinery-Diversified | 3.5% |
| Aerospace/Defense | 3.5% |
| Insurance | 3.4% |
| Transportation | 3.4% |
| Software | 3.2% |
| REITS | 3.0% |
| Computers | 2.8% |
| Healthcare-Services | 2.5% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995264.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C101 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA JPMorgan Equity-Income

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA JPMorgan Equity-Income Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA JPMorgan Equity-Income Portfolio (Class 3)\* | $42 | 0.84%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$829M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;86 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$2.3M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;13% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 12.7% |
| Diversified Financial Services | 8.5% |
| Pharmaceuticals | 8.0% |
| Retail | 7.9% |
| Oil & Gas | 5.9% |
| Electric | 4.6% |
| Semiconductors | 4.3% |
| Machinery-Diversified | 3.5% |
| Aerospace/Defense | 3.5% |
| Insurance | 3.4% |
| Transportation | 3.4% |
| Software | 3.2% |
| REITS | 3.0% |
| Computers | 2.8% |
| Healthcare-Services | 2.5% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995265.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C200 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA JPMorgan Large Cap Core

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA JPMorgan Large Cap Core Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA JPMorgan Large Cap Core Portfolio (Class 1)\* | $35 | 0.69%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$586M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;52 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.8M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;25% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Semiconductors | 14.0% |
| Software | 12.3% |
| Internet | 12.0% |
| Retail | 6.8% |
| Diversified Financial Services | 6.6% |
| Computers | 5.7% |
| Banks | 4.9% |
| Healthcare-Products | 4.1% |
| Building Materials | 3.7% |
| Electric | 3.6% |
| Insurance | 2.8% |
| Aerospace/Defense | 2.7% |
| Oil & Gas Services | 2.6% |
| Pharmaceuticals | 2.4% |
| Media | 1.9% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995287.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T816 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA JPMorgan Large Cap Core

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA JPMorgan Large Cap Core Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA JPMorgan Large Cap Core Portfolio (Class 2)\* | $43 | 0.84%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$586M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;52 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.8M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;25% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Semiconductors | 14.0% |
| Software | 12.3% |
| Internet | 12.0% |
| Retail | 6.8% |
| Diversified Financial Services | 6.6% |
| Computers | 5.7% |
| Banks | 4.9% |
| Healthcare-Products | 4.1% |
| Building Materials | 3.7% |
| Electric | 3.6% |
| Insurance | 2.8% |
| Aerospace/Defense | 2.7% |
| Oil & Gas Services | 2.6% |
| Pharmaceuticals | 2.4% |
| Media | 1.9% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995276.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T428 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA JPMorgan Large Cap Core

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA JPMorgan Large Cap Core Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA JPMorgan Large Cap Core Portfolio (Class 3)\* | $48 | 0.94%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$586M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;52 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.8M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;25% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Semiconductors | 14.0% |
| Software | 12.3% |
| Internet | 12.0% |
| Retail | 6.8% |
| Diversified Financial Services | 6.6% |
| Computers | 5.7% |
| Banks | 4.9% |
| Healthcare-Products | 4.1% |
| Building Materials | 3.7% |
| Electric | 3.6% |
| Insurance | 2.8% |
| Aerospace/Defense | 2.7% |
| Oil & Gas Services | 2.6% |
| Pharmaceuticals | 2.4% |
| Media | 1.9% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995277.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T410 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA JPMorgan MFS Core Bond

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA JPMorgan MFS Core Bond Portfolio (Class 1)\* | $27 | 0.53%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1,830M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1669 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$4.4M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;17% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio as of the end of the period.

**Top Industries\* (% of net assets)**

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 46.9% |
| Collateralized Mortgage Obligations | 11.3% |
| Banks | 8.5% |
| Other Asset Backed Securities | 6.3% |
| Auto Loan Receivables | 2.7% |
| Diversified Financial Services | 2.4% |
| Electric | 2.4% |
| Pipelines | 1.8% |
| REITS | 1.4% |
| Healthcare-Services | 1.3% |
| Short-Term Investments | 1.0% |
| Insurance | 1.0% |
| Oil & Gas | 0.9% |
| Aerospace/Defense | 0.9% |
| Telecommunications | 0.9% |

---

**Portfolio Composition (% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_995269.jpg)

**Credit Quality <sup>\*\*</sup> (% of total debt issues)**

![Graphical Representation - Allocation 2 Chart](chartimages_995110.jpg)

*\* Percentages exclude derivatives (other than purchased options), if any.*

*\*\* Credit quality ratings shown above reflect the rating assigned by Moody's Investors Service, Inc. Where Moody's ratings are not available, we have used Standard & Poor's ratings. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. Percentages exclude short-term securities.*

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T808 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA JPMorgan MFS Core Bond

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA JPMorgan MFS Core Bond Portfolio (Class 2)\* | $34 | 0.68%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1,830M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1669 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$4.4M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;17% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio as of the end of the period.

**Top Industries\* (% of net assets)**

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 46.9% |
| Collateralized Mortgage Obligations | 11.3% |
| Banks | 8.5% |
| Other Asset Backed Securities | 6.3% |
| Auto Loan Receivables | 2.7% |
| Diversified Financial Services | 2.4% |
| Electric | 2.4% |
| Pipelines | 1.8% |
| REITS | 1.4% |
| Healthcare-Services | 1.3% |
| Short-Term Investments | 1.0% |
| Insurance | 1.0% |
| Oil & Gas | 0.9% |
| Aerospace/Defense | 0.9% |
| Telecommunications | 0.9% |

---

**Portfolio Composition (% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_995258.jpg)

**Credit Quality <sup>\*\*</sup> (% of total debt issues)**

![Graphical Representation - Allocation 2 Chart](chartimages_995111.jpg)

*\* Percentages exclude derivatives (other than purchased options), if any.*

*\*\* Credit quality ratings shown above reflect the rating assigned by Moody's Investors Service, Inc. Where Moody's ratings are not available, we have used Standard & Poor's ratings. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. Percentages exclude short-term securities.*

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T212 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA JPMorgan MFS Core Bond

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA JPMorgan MFS Core Bond Portfolio (Class 3)\* | $39 | 0.78%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1,830M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1669 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$4.4M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;17% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio as of the end of the period.

**Top Industries\* (% of net assets)**

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 46.9% |
| Collateralized Mortgage Obligations | 11.3% |
| Banks | 8.5% |
| Other Asset Backed Securities | 6.3% |
| Auto Loan Receivables | 2.7% |
| Diversified Financial Services | 2.4% |
| Electric | 2.4% |
| Pipelines | 1.8% |
| REITS | 1.4% |
| Healthcare-Services | 1.3% |
| Short-Term Investments | 1.0% |
| Insurance | 1.0% |
| Oil & Gas | 0.9% |
| Aerospace/Defense | 0.9% |
| Telecommunications | 0.9% |

---

**Portfolio Composition (% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_995259.jpg)

**Credit Quality <sup>\*\*</sup> (% of total debt issues)**

![Graphical Representation - Allocation 2 Chart](chartimages_995100.jpg)

*\* Percentages exclude derivatives (other than purchased options), if any.*

*\*\* Credit quality ratings shown above reflect the rating assigned by Moody's Investors Service, Inc. Where Moody's ratings are not available, we have used Standard & Poor's ratings. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. Percentages exclude short-term securities.*

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T196 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA JPMorgan Mid-Cap Growth

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA JPMorgan Mid-Cap Growth Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA JPMorgan Mid-Cap Growth Portfolio (Class 1)\* | $39 | 0.77%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$715M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;107 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$2.4M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;44% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Software | 17.2% |
| Diversified Financial Services | 8.3% |
| Retail | 7.3% |
| Aerospace/Defense | 5.3% |
| Internet | 5.2% |
| Biotechnology | 4.8% |
| Leisure Time | 4.1% |
| Pharmaceuticals | 3.9% |
| Miscellaneous Manufacturing | 3.9% |
| Electric | 3.3% |
| Healthcare-Products | 3.1% |
| Lodging | 2.9% |
| Computers | 2.9% |
| Commercial Services | 2.8% |
| Entertainment | 2.6% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995260.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T733 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA JPMorgan Mid-Cap Growth

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA JPMorgan Mid-Cap Growth Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA JPMorgan Mid-Cap Growth Portfolio (Class 2)\* | $46 | 0.92%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$715M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;107 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$2.4M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;44% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Software | 17.2% |
| Diversified Financial Services | 8.3% |
| Retail | 7.3% |
| Aerospace/Defense | 5.3% |
| Internet | 5.2% |
| Biotechnology | 4.8% |
| Leisure Time | 4.1% |
| Pharmaceuticals | 3.9% |
| Miscellaneous Manufacturing | 3.9% |
| Electric | 3.3% |
| Healthcare-Products | 3.1% |
| Lodging | 2.9% |
| Computers | 2.9% |
| Commercial Services | 2.8% |
| Entertainment | 2.6% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995261.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C812 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA JPMorgan Mid-Cap Growth

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA JPMorgan Mid-Cap Growth Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA JPMorgan Mid-Cap Growth Portfolio (Class 3)\* | $51 | 1.02%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$715M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;107 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$2.4M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;44% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Software | 17.2% |
| Diversified Financial Services | 8.3% |
| Retail | 7.3% |
| Aerospace/Defense | 5.3% |
| Internet | 5.2% |
| Biotechnology | 4.8% |
| Leisure Time | 4.1% |
| Pharmaceuticals | 3.9% |
| Miscellaneous Manufacturing | 3.9% |
| Electric | 3.3% |
| Healthcare-Products | 3.1% |
| Lodging | 2.9% |
| Computers | 2.9% |
| Commercial Services | 2.8% |
| Entertainment | 2.6% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995262.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C796 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA JPMorgan Ultra-Short Bond

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA JPMorgan Ultra-Short Bond Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### This report describes changes to the Portfolio that occurred during the reporting period.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA JPMorgan Ultra-Short Bond Portfolio (Class 1)\* | $26 | 0.52%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$346M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;246 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.8M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;59% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio as of the end of the period.

**Top Industries\* (% of net assets)**

---

| | |
|:---|:---|
| Banks | 23.5% |
| Insurance | 9.5% |
| Other Asset Backed Securities | 8.3% |
| Auto Manufacturers | 7.2% |
| Short-Term Investments | 7.1% |
| Electric | 6.8% |
| U.S. Government & Agency Obligations | 6.6% |
| Auto Loan Receivables | 3.7% |
| Diversified Financial Services | 2.4% |
| Healthcare-Services | 1.7% |
| Retail | 1.4% |
| Pipelines | 1.4% |
| Telecommunications | 1.4% |
| Chemicals | 1.3% |
| Credit Card Receivables | 1.2% |

---

**Portfolio Composition (% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_995327.jpg)

**Credit Quality <sup>\*\*</sup> (% of total debt issues)**

![Graphical Representation - Allocation 2 Chart](chartimages_995168.jpg)

*\* Percentages exclude derivatives (other than purchased options), if any.*

*\*\* Credit quality ratings shown above reflect the rating assigned by Moody's Investors Service, Inc. Where Moody's ratings are not available, we have used Standard & Poor's ratings. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. Percentages exclude short-term securities.*

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T402 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA JPMorgan Ultra-Short Bond

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA JPMorgan Ultra-Short Bond Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### This report describes changes to the Portfolio that occurred during the reporting period.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA JPMorgan Ultra-Short Bond Portfolio (Class 2)\* | $34 | 0.67%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$346M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;246 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.8M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;59% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio as of the end of the period.

**Top Industries\* (% of net assets)**

---

| | |
|:---|:---|
| Banks | 23.5% |
| Insurance | 9.5% |
| Other Asset Backed Securities | 8.3% |
| Auto Manufacturers | 7.2% |
| Short-Term Investments | 7.1% |
| Electric | 6.8% |
| U.S. Government & Agency Obligations | 6.6% |
| Auto Loan Receivables | 3.7% |
| Diversified Financial Services | 2.4% |
| Healthcare-Services | 1.7% |
| Retail | 1.4% |
| Pipelines | 1.4% |
| Telecommunications | 1.4% |
| Chemicals | 1.3% |
| Credit Card Receivables | 1.2% |

---

**Portfolio Composition (% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_995328.jpg)

**Credit Quality <sup>\*\*</sup> (% of total debt issues)**

![Graphical Representation - Allocation 2 Chart](chartimages_995169.jpg)

*\* Percentages exclude derivatives (other than purchased options), if any.*

*\*\* Credit quality ratings shown above reflect the rating assigned by Moody's Investors Service, Inc. Where Moody's ratings are not available, we have used Standard & Poor's ratings. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. Percentages exclude short-term securities.*

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T535 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA JPMorgan Ultra-Short Bond

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA JPMorgan Ultra-Short Bond Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### This report describes changes to the Portfolio that occurred during the reporting period.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA JPMorgan Ultra-Short Bond Portfolio (Class 3)\* | $39 | 0.77%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$346M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;246 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.8M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;59% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio as of the end of the period.

**Top Industries\* (% of net assets)**

---

| | |
|:---|:---|
| Banks | 23.5% |
| Insurance | 9.5% |
| Other Asset Backed Securities | 8.3% |
| Auto Manufacturers | 7.2% |
| Short-Term Investments | 7.1% |
| Electric | 6.8% |
| U.S. Government & Agency Obligations | 6.6% |
| Auto Loan Receivables | 3.7% |
| Diversified Financial Services | 2.4% |
| Healthcare-Services | 1.7% |
| Retail | 1.4% |
| Pipelines | 1.4% |
| Telecommunications | 1.4% |
| Chemicals | 1.3% |
| Credit Card Receivables | 1.2% |

---

**Portfolio Composition (% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_995329.jpg)

**Credit Quality <sup>\*\*</sup> (% of total debt issues)**

![Graphical Representation - Allocation 2 Chart](chartimages_995170.jpg)

*\* Percentages exclude derivatives (other than purchased options), if any.*

*\*\* Credit quality ratings shown above reflect the rating assigned by Moody's Investors Service, Inc. Where Moody's ratings are not available, we have used Standard & Poor's ratings. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. Percentages exclude short-term securities.*

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T527 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Large Cap Growth Index

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Large Cap Growth Index Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Large Cap Growth Index Portfolio (Class 1)\* | $18 | 0.35%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$740M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;216 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.0M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;12% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Internet | 21.2% |
| Semiconductors | 20.4% |
| Software | 13.9% |
| Computers | 6.6% |
| Diversified Financial Services | 5.1% |
| Retail | 4.2% |
| Auto Manufacturers | 3.2% |
| Insurance | 2.8% |
| Pharmaceuticals | 2.5% |
| Banks | 2.0% |
| Commercial Services | 1.7% |
| Healthcare-Products | 1.6% |
| Aerospace/Defense | 1.4% |
| Machinery-Construction & Mining | 1.3% |
| Electric | 1.2% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995263.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704H100 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Large Cap Growth Index

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Large Cap Growth Index Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Large Cap Growth Index Portfolio (Class 3)\* | $31 | 0.60%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$740M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;216 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.0M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;12% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Internet | 21.2% |
| Semiconductors | 20.4% |
| Software | 13.9% |
| Computers | 6.6% |
| Diversified Financial Services | 5.1% |
| Retail | 4.2% |
| Auto Manufacturers | 3.2% |
| Insurance | 2.8% |
| Pharmaceuticals | 2.5% |
| Banks | 2.0% |
| Commercial Services | 1.7% |
| Healthcare-Products | 1.6% |
| Aerospace/Defense | 1.4% |
| Machinery-Construction & Mining | 1.3% |
| Electric | 1.2% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995252.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704H209 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Large Cap Index

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Large Cap Index Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Large Cap Index Portfolio (Class 1)\* | $13 | 0.26%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$3,399M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;506 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$3.6M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;7% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Semiconductors | 13.4% |
| Internet | 13.4% |
| Software | 11.9% |
| Computers | 7.4% |
| Banks | 4.5% |
| Retail | 4.4% |
| Diversified Financial Services | 4.2% |
| Pharmaceuticals | 4.0% |
| Insurance | 3.5% |
| Healthcare-Products | 2.7% |
| Oil & Gas | 2.4% |
| Electric | 2.3% |
| Aerospace/Defense | 2.1% |
| Auto Manufacturers | 2.0% |
| Telecommunications | 1.9% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995253.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T832 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Large Cap Index

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Large Cap Index Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Large Cap Index Portfolio (Class 3)\* | $26 | 0.51%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$3,399M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;506 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$3.6M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;7% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Semiconductors | 13.4% |
| Internet | 13.4% |
| Software | 11.9% |
| Computers | 7.4% |
| Banks | 4.5% |
| Retail | 4.4% |
| Diversified Financial Services | 4.2% |
| Pharmaceuticals | 4.0% |
| Insurance | 3.5% |
| Healthcare-Products | 2.7% |
| Oil & Gas | 2.4% |
| Electric | 2.3% |
| Aerospace/Defense | 2.1% |
| Auto Manufacturers | 2.0% |
| Telecommunications | 1.9% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995254.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C457 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Large Cap Value Index

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Large Cap Value Index Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Large Cap Value Index Portfolio (Class 1)\* | $17 | 0.35%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$653M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;402 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.9M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;9% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Software | 9.4% |
| Computers | 8.2% |
| Banks | 7.4% |
| Pharmaceuticals | 5.7% |
| Oil & Gas | 5.1% |
| Semiconductors | 5.0% |
| Retail | 4.5% |
| Insurance | 4.3% |
| Internet | 4.1% |
| Healthcare-Products | 4.0% |
| Electric | 3.6% |
| Diversified Financial Services | 3.0% |
| Telecommunications | 3.0% |
| Aerospace/Defense | 2.9% |
| REITS | 2.9% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995255.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704H308 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Large Cap Value Index

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Large Cap Value Index Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Large Cap Value Index Portfolio (Class 3)\* | $30 | 0.60%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$653M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;402 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.9M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;9% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Software | 9.4% |
| Computers | 8.2% |
| Banks | 7.4% |
| Pharmaceuticals | 5.7% |
| Oil & Gas | 5.1% |
| Semiconductors | 5.0% |
| Retail | 4.5% |
| Insurance | 4.3% |
| Internet | 4.1% |
| Healthcare-Products | 4.0% |
| Electric | 3.6% |
| Diversified Financial Services | 3.0% |
| Telecommunications | 3.0% |
| Aerospace/Defense | 2.9% |
| REITS | 2.9% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995256.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704H407 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA MFS Large Cap Growth (formerly SA MFS Blue Chip Growth Portfolio)

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA MFS Large Cap Growth Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA MFS Large Cap Growth Portfolio (Class 1)\* | $35 | 0.68%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$858M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;88 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$2.3M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;36% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Software | 22.6% |
| Semiconductors | 20.0% |
| Internet | 19.3% |
| Computers | 10.5% |
| Diversified Financial Services | 3.9% |
| Pharmaceuticals | 3.0% |
| Banks | 2.2% |
| Retail | 2.0% |
| Auto Manufacturers | 1.7% |
| Aerospace/Defense | 1.7% |
| Healthcare-Services | 1.4% |
| Telecommunications | 1.2% |
| Building Materials | 1.2% |
| Insurance | 1.2% |
| Apparel | 1.1% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995250.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T667 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA MFS Large Cap Growth (formerly SA MFS Blue Chip Growth Portfolio)

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA MFS Large Cap Growth Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA MFS Large Cap Growth Portfolio (Class 2)\* | $42 | 0.83%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$858M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;88 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$2.3M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;36% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Software | 22.6% |
| Semiconductors | 20.0% |
| Internet | 19.3% |
| Computers | 10.5% |
| Diversified Financial Services | 3.9% |
| Pharmaceuticals | 3.0% |
| Banks | 2.2% |
| Retail | 2.0% |
| Auto Manufacturers | 1.7% |
| Aerospace/Defense | 1.7% |
| Healthcare-Services | 1.4% |
| Telecommunications | 1.2% |
| Building Materials | 1.2% |
| Insurance | 1.2% |
| Apparel | 1.1% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995251.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T550 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA MFS Large Cap Growth (formerly SA MFS Blue Chip Growth Portfolio)

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA MFS Large Cap Growth Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA MFS Large Cap Growth Portfolio (Class 3)\* | $48 | 0.93%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$858M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;88 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$2.3M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;36% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Software | 22.6% |
| Semiconductors | 20.0% |
| Internet | 19.3% |
| Computers | 10.5% |
| Diversified Financial Services | 3.9% |
| Pharmaceuticals | 3.0% |
| Banks | 2.2% |
| Retail | 2.0% |
| Auto Manufacturers | 1.7% |
| Aerospace/Defense | 1.7% |
| Healthcare-Services | 1.4% |
| Telecommunications | 1.2% |
| Building Materials | 1.2% |
| Insurance | 1.2% |
| Apparel | 1.1% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995240.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T543 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA MFS Massachusetts Investors Trust

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA MFS Massachusetts Investors Trust Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA MFS Massachusetts Investors Trust Portfolio (Class 1)\* | $35 | 0.70%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$644M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;67 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$2.1M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;19% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Internet | 13.8% |
| Software | 12.6% |
| Semiconductors | 10.5% |
| Diversified Financial Services | 6.4% |
| Banks | 5.5% |
| Computers | 5.3% |
| Healthcare-Products | 5.2% |
| Electronics | 4.5% |
| Electrical Components & Equipment | 4.1% |
| Insurance | 4.0% |
| Electric | 3.2% |
| Cosmetics/Personal Care | 3.1% |
| Aerospace/Defense | 2.7% |
| Oil & Gas | 2.7% |
| Pharmaceuticals | 2.5% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995241.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T766 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA MFS Massachusetts Investors Trust

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA MFS Massachusetts Investors Trust Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA MFS Massachusetts Investors Trust Portfolio (Class 2)\* | $43 | 0.85%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$644M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;67 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$2.1M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;19% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Internet | 13.8% |
| Software | 12.6% |
| Semiconductors | 10.5% |
| Diversified Financial Services | 6.4% |
| Banks | 5.5% |
| Computers | 5.3% |
| Healthcare-Products | 5.2% |
| Electronics | 4.5% |
| Electrical Components & Equipment | 4.1% |
| Insurance | 4.0% |
| Electric | 3.2% |
| Cosmetics/Personal Care | 3.1% |
| Aerospace/Defense | 2.7% |
| Oil & Gas | 2.7% |
| Pharmaceuticals | 2.5% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995242.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C838 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA MFS Massachusetts Investors Trust

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA MFS Massachusetts Investors Trust Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA MFS Massachusetts Investors Trust Portfolio (Class 3)\* | $48 | 0.95%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$644M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;67 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$2.1M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;19% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Internet | 13.8% |
| Software | 12.6% |
| Semiconductors | 10.5% |
| Diversified Financial Services | 6.4% |
| Banks | 5.5% |
| Computers | 5.3% |
| Healthcare-Products | 5.2% |
| Electronics | 4.5% |
| Electrical Components & Equipment | 4.1% |
| Insurance | 4.0% |
| Electric | 3.2% |
| Cosmetics/Personal Care | 3.1% |
| Aerospace/Defense | 2.7% |
| Oil & Gas | 2.7% |
| Pharmaceuticals | 2.5% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995243.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C820 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA MFS Total Return

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA MFS Total Return Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA MFS Total Return Portfolio (Class 1)\* | $36 | 0.71%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$481M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;805 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.5M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;14% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 20.4% |
| Banks | 10.4% |
| Pharmaceuticals | 6.2% |
| Insurance | 5.0% |
| Oil & Gas | 4.8% |
| Collateralized Mortgage Obligations | 4.7% |
| Diversified Financial Services | 4.4% |
| Electric | 4.3% |
| Software | 3.5% |
| Building Materials | 2.7% |
| Healthcare-Products | 2.4% |
| Healthcare-Services | 2.4% |
| Agriculture | 2.1% |
| Aerospace/Defense | 2.0% |
| Media | 2.0% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995244.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T873 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA MFS Total Return

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA MFS Total Return Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA MFS Total Return Portfolio (Class 2)\* | $43 | 0.86%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$481M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;805 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.5M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;14% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 20.4% |
| Banks | 10.4% |
| Pharmaceuticals | 6.2% |
| Insurance | 5.0% |
| Oil & Gas | 4.8% |
| Collateralized Mortgage Obligations | 4.7% |
| Diversified Financial Services | 4.4% |
| Electric | 4.3% |
| Software | 3.5% |
| Building Materials | 2.7% |
| Healthcare-Products | 2.4% |
| Healthcare-Services | 2.4% |
| Agriculture | 2.1% |
| Aerospace/Defense | 2.0% |
| Media | 2.0% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995245.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C788 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA MFS Total Return

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA MFS Total Return Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA MFS Total Return Portfolio (Class 3)\* | $48 | 0.96%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$481M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;805 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.5M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;14% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 20.4% |
| Banks | 10.4% |
| Pharmaceuticals | 6.2% |
| Insurance | 5.0% |
| Oil & Gas | 4.8% |
| Collateralized Mortgage Obligations | 4.7% |
| Diversified Financial Services | 4.4% |
| Electric | 4.3% |
| Software | 3.5% |
| Building Materials | 2.7% |
| Healthcare-Products | 2.4% |
| Healthcare-Services | 2.4% |
| Agriculture | 2.1% |
| Aerospace/Defense | 2.0% |
| Media | 2.0% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995234.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C770 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Mid Cap Index

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Mid Cap Index Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Mid Cap Index Portfolio (Class 1)\* | $18 | 0.36%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$497M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;405 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.7M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;10% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| REITS | 6.8% |
| Banks | 6.4% |
| Retail | 6.1% |
| Insurance | 4.6% |
| Diversified Financial Services | 4.3% |
| Software | 4.1% |
| Commercial Services | 4.0% |
| Machinery-Diversified | 3.9% |
| Computers | 3.5% |
| Electronics | 3.5% |
| Engineering & Construction | 3.5% |
| Oil & Gas | 2.8% |
| Food | 2.7% |
| Biotechnology | 2.4% |
| Semiconductors | 2.3% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995235.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C226 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Mid Cap Index

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Mid Cap Index Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Mid Cap Index Portfolio (Class 3)\* | $30 | 0.61%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$497M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;405 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.7M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;10% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| REITS | 6.8% |
| Banks | 6.4% |
| Retail | 6.1% |
| Insurance | 4.6% |
| Diversified Financial Services | 4.3% |
| Software | 4.1% |
| Commercial Services | 4.0% |
| Machinery-Diversified | 3.9% |
| Computers | 3.5% |
| Electronics | 3.5% |
| Engineering & Construction | 3.5% |
| Oil & Gas | 2.8% |
| Food | 2.7% |
| Biotechnology | 2.4% |
| Semiconductors | 2.3% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995236.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C234 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Morgan Stanley International Equities

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Morgan Stanley International Equities Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Morgan Stanley International Equities Portfolio (Class 1)\* | $45 | 0.87%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$344M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;58 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.3M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;30% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Machinery-Diversified | 10.0% |
| Semiconductors | 9.4% |
| Software | 7.2% |
| Cosmetics/Personal Care | 6.5% |
| Banks | 5.9% |
| Pharmaceuticals | 5.0% |
| Insurance | 4.7% |
| Electronics | 4.2% |
| Computers | 3.7% |
| Retail | 3.2% |
| Diversified Financial Services | 3.1% |
| Commercial Services | 3.0% |
| Aerospace/Defense | 2.8% |
| Internet | 2.8% |
| Beverages | 2.7% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995237.jpg)

**Country**

![Graphical Representation - Allocation 2 Chart](chartimages_995078.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T691 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Morgan Stanley International Equities

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Morgan Stanley International Equities Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Morgan Stanley International Equities Portfolio (Class 2)\* | $53 | 1.02%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$344M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;58 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.3M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;30% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Machinery-Diversified | 10.0% |
| Semiconductors | 9.4% |
| Software | 7.2% |
| Cosmetics/Personal Care | 6.5% |
| Banks | 5.9% |
| Pharmaceuticals | 5.0% |
| Insurance | 4.7% |
| Electronics | 4.2% |
| Computers | 3.7% |
| Retail | 3.2% |
| Diversified Financial Services | 3.1% |
| Commercial Services | 3.0% |
| Aerospace/Defense | 2.8% |
| Internet | 2.8% |
| Beverages | 2.7% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995238.jpg)

**Country**

![Graphical Representation - Allocation 2 Chart](chartimages_995079.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C705 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Morgan Stanley International Equities

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Morgan Stanley International Equities Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Morgan Stanley International Equities Portfolio (Class 3)\* | $58 | 1.12%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$344M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;58 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.3M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;30% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Machinery-Diversified | 10.0% |
| Semiconductors | 9.4% |
| Software | 7.2% |
| Cosmetics/Personal Care | 6.5% |
| Banks | 5.9% |
| Pharmaceuticals | 5.0% |
| Insurance | 4.7% |
| Electronics | 4.2% |
| Computers | 3.7% |
| Retail | 3.2% |
| Diversified Financial Services | 3.1% |
| Commercial Services | 3.0% |
| Aerospace/Defense | 2.8% |
| Internet | 2.8% |
| Beverages | 2.7% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995239.jpg)

**Country**

![Graphical Representation - Allocation 2 Chart](chartimages_995080.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C804 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA PIMCO Global Bond Opportunities

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA PIMCO Global Bond Opportunities Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### This report describes changes to the Portfolio that occurred during the reporting period.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA PIMCO Global Bond Opportunities Portfolio (Class 1)\* | $46 | 0.92%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$280M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;511 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.9M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;150% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio as of the end of the period.

**Top Industries\* (% of net assets)**

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 78.8% |
| Foreign Government Obligations | 33.6% |
| Collateralized Mortgage Obligations | 12.6% |
| Banks | 10.5% |
| Other Asset Backed Securities | 6.7% |
| Short-Term Investments | 5.6% |
| Auto Loan Receivables | 1.3% |
| Investment Companies | 1.1% |
| Pharmaceuticals | 0.6% |
| Credit Card Receivables | 0.5% |
| Diversified Financial Services | 0.4% |
| Healthcare-Products | 0.4% |
| Semiconductors | 0.4% |
| Insurance | 0.3% |
| Agriculture | 0.3% |

---

**Country (% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_995295.jpg)

**Credit Quality <sup>\*\*</sup> (% of total debt issues)**

![Graphical Representation - Allocation 2 Chart](chartimages_995136.jpg)

*\* Percentages exclude derivatives (other than purchased options), if any.*

*\*\* Credit quality ratings shown above reflect the rating assigned by Moody's Investors Service, Inc. Where Moody's ratings are not available, we have used Standard & Poor's ratings. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. Percentages exclude short-term securities.*

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T600 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA PIMCO Global Bond Opportunities

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA PIMCO Global Bond Opportunities Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### This report describes changes to the Portfolio that occurred during the reporting period.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA PIMCO Global Bond Opportunities Portfolio (Class 2)\* | $54 | 1.07%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$280M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;511 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.9M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;150% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio as of the end of the period.

**Top Industries\* (% of net assets)**

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 78.8% |
| Foreign Government Obligations | 33.6% |
| Collateralized Mortgage Obligations | 12.6% |
| Banks | 10.5% |
| Other Asset Backed Securities | 6.7% |
| Short-Term Investments | 5.6% |
| Auto Loan Receivables | 1.3% |
| Investment Companies | 1.1% |
| Pharmaceuticals | 0.6% |
| Credit Card Receivables | 0.5% |
| Diversified Financial Services | 0.4% |
| Healthcare-Products | 0.4% |
| Semiconductors | 0.4% |
| Insurance | 0.3% |
| Agriculture | 0.3% |

---

**Country (% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_995296.jpg)

**Credit Quality <sup>\*\*</sup> (% of total debt issues)**

![Graphical Representation - Allocation 2 Chart](chartimages_995137.jpg)

*\* Percentages exclude derivatives (other than purchased options), if any.*

*\*\* Credit quality ratings shown above reflect the rating assigned by Moody's Investors Service, Inc. Where Moody's ratings are not available, we have used Standard & Poor's ratings. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. Percentages exclude short-term securities.*

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T386 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA PIMCO Global Bond Opportunities

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA PIMCO Global Bond Opportunities Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### This report describes changes to the Portfolio that occurred during the reporting period.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA PIMCO Global Bond Opportunities Portfolio (Class 3)\* | $59 | 1.17%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$280M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;511 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.9M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;150% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio as of the end of the period.

**Top Industries\* (% of net assets)**

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 78.8% |
| Foreign Government Obligations | 33.6% |
| Collateralized Mortgage Obligations | 12.6% |
| Banks | 10.5% |
| Other Asset Backed Securities | 6.7% |
| Short-Term Investments | 5.6% |
| Auto Loan Receivables | 1.3% |
| Investment Companies | 1.1% |
| Pharmaceuticals | 0.6% |
| Credit Card Receivables | 0.5% |
| Diversified Financial Services | 0.4% |
| Healthcare-Products | 0.4% |
| Semiconductors | 0.4% |
| Insurance | 0.3% |
| Agriculture | 0.3% |

---

**Country (% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_995297.jpg)

**Credit Quality <sup>\*\*</sup> (% of total debt issues)**

![Graphical Representation - Allocation 2 Chart](chartimages_995138.jpg)

*\* Percentages exclude derivatives (other than purchased options), if any.*

*\*\* Credit quality ratings shown above reflect the rating assigned by Moody's Investors Service, Inc. Where Moody's ratings are not available, we have used Standard & Poor's ratings. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. Percentages exclude short-term securities.*

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T378 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA PIMCO RAE International Value

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA PIMCO RAE International Value Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA PIMCO RAE International Value Portfolio (Class 1)\* | $45 | 0.84%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$428M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;261 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.6M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;26% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Telecommunications | 11.8% |
| Pharmaceuticals | 10.8% |
| Insurance | 7.7% |
| Chemicals | 6.7% |
| Food | 6.4% |
| Agriculture | 6.1% |
| Transportation | 6.0% |
| Auto Manufacturers | 3.6% |
| Iron/Steel | 3.6% |
| Mining | 3.4% |
| Retail | 3.2% |
| Auto Parts & Equipment | 2.9% |
| Electric | 2.6% |
| Commercial Services | 2.4% |
| Banks | 2.3% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995218.jpg)

**Country**

![Graphical Representation - Allocation 2 Chart](chartimages_995059.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C689 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA PIMCO RAE International Value

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA PIMCO RAE International Value Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA PIMCO RAE International Value Portfolio (Class 2)\* | $53 | 0.99%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$428M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;261 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.6M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;26% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Telecommunications | 11.8% |
| Pharmaceuticals | 10.8% |
| Insurance | 7.7% |
| Chemicals | 6.7% |
| Food | 6.4% |
| Agriculture | 6.1% |
| Transportation | 6.0% |
| Auto Manufacturers | 3.6% |
| Iron/Steel | 3.6% |
| Mining | 3.4% |
| Retail | 3.2% |
| Auto Parts & Equipment | 2.9% |
| Electric | 2.6% |
| Commercial Services | 2.4% |
| Banks | 2.3% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995219.jpg)

**Country**

![Graphical Representation - Allocation 2 Chart](chartimages_995060.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T634 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA PIMCO RAE International Value

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA PIMCO RAE International Value Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA PIMCO RAE International Value Portfolio (Class 3)\* | $58 | 1.09%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$428M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;261 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.6M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;26% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Telecommunications | 11.8% |
| Pharmaceuticals | 10.8% |
| Insurance | 7.7% |
| Chemicals | 6.7% |
| Food | 6.4% |
| Agriculture | 6.1% |
| Transportation | 6.0% |
| Auto Manufacturers | 3.6% |
| Iron/Steel | 3.6% |
| Mining | 3.4% |
| Retail | 3.2% |
| Auto Parts & Equipment | 2.9% |
| Electric | 2.6% |
| Commercial Services | 2.4% |
| Banks | 2.3% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995220.jpg)

**Country**

![Graphical Representation - Allocation 2 Chart](chartimages_995061.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T394 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA PineBridge High-Yield Bond

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA PineBridge High-Yield Bond Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA PineBridge High-Yield Bond Portfolio (Class 1)\* | $37 | 0.73%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$263M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;269 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.8M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;23% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio as of the end of the period.

**Top Industries\* (% of net assets)**

---

| | |
|:---|:---|
| Diversified Financial Services | 7.1% |
| Commercial Services | 6.8% |
| Telecommunications | 6.4% |
| Pipelines | 6.4% |
| Oil & Gas | 6.2% |
| Media | 6.0% |
| Retail | 4.5% |
| Electric | 4.3% |
| REITS | 3.4% |
| Leisure Time | 2.9% |
| Insurance | 2.8% |
| Entertainment | 2.8% |
| Iron/Steel | 2.8% |
| Pharmaceuticals | 2.7% |
| Packaging & Containers | 2.6% |

---

**Portfolio Composition (% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_995228.jpg)

**Credit Quality <sup>\*\*</sup> (% of total debt issues)**

![Graphical Representation - Allocation 2 Chart](chartimages_995081.jpg)

*\* Percentages exclude derivatives (other than purchased options), if any.*

*\*\* Credit quality ratings shown above reflect the rating assigned by Moody's Investors Service, Inc. Where Moody's ratings are not available, we have used Standard & Poor's ratings. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. Percentages exclude short-term securities.*

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T709 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA PineBridge High-Yield Bond

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA PineBridge High-Yield Bond Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA PineBridge High-Yield Bond Portfolio (Class 2)\* | $44 | 0.88%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$263M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;269 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.8M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;23% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio as of the end of the period.

**Top Industries\* (% of net assets)**

---

| | |
|:---|:---|
| Diversified Financial Services | 7.1% |
| Commercial Services | 6.8% |
| Telecommunications | 6.4% |
| Pipelines | 6.4% |
| Oil & Gas | 6.2% |
| Media | 6.0% |
| Retail | 4.5% |
| Electric | 4.3% |
| REITS | 3.4% |
| Leisure Time | 2.9% |
| Insurance | 2.8% |
| Entertainment | 2.8% |
| Iron/Steel | 2.8% |
| Pharmaceuticals | 2.7% |
| Packaging & Containers | 2.6% |

---

**Portfolio Composition (% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_995229.jpg)

**Credit Quality <sup>\*\*</sup> (% of total debt issues)**

![Graphical Representation - Allocation 2 Chart](chartimages_995070.jpg)

*\* Percentages exclude derivatives (other than purchased options), if any.*

*\*\* Credit quality ratings shown above reflect the rating assigned by Moody's Investors Service, Inc. Where Moody's ratings are not available, we have used Standard & Poor's ratings. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. Percentages exclude short-term securities.*

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C507 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA PineBridge High-Yield Bond

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA PineBridge High-Yield Bond Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA PineBridge High-Yield Bond Portfolio (Class 3)\* | $49 | 0.98%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$263M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;269 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.8M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;23% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio as of the end of the period.

**Top Industries\* (% of net assets)**

---

| | |
|:---|:---|
| Diversified Financial Services | 7.1% |
| Commercial Services | 6.8% |
| Telecommunications | 6.4% |
| Pipelines | 6.4% |
| Oil & Gas | 6.2% |
| Media | 6.0% |
| Retail | 4.5% |
| Electric | 4.3% |
| REITS | 3.4% |
| Leisure Time | 2.9% |
| Insurance | 2.8% |
| Entertainment | 2.8% |
| Iron/Steel | 2.8% |
| Pharmaceuticals | 2.7% |
| Packaging & Containers | 2.6% |

---

**Portfolio Composition (% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_995230.jpg)

**Credit Quality <sup>\*\*</sup> (% of total debt issues)**

![Graphical Representation - Allocation 2 Chart](chartimages_995071.jpg)

*\* Percentages exclude derivatives (other than purchased options), if any.*

*\*\* Credit quality ratings shown above reflect the rating assigned by Moody's Investors Service, Inc. Where Moody's ratings are not available, we have used Standard & Poor's ratings. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. Percentages exclude short-term securities.*

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C606 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Putnam International Value (formerly SA Putnam International Growth and Income Portfolio)

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Putnam International Value Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### This report describes changes to the Portfolio that occurred during the reporting period.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Putnam International Value Portfolio (Class 1)\* | $50 | 0.93%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$325M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;147 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.3M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;16% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 24.5% |
| Insurance | 10.4% |
| Oil & Gas | 6.7% |
| Telecommunications | 4.8% |
| Pharmaceuticals | 4.6% |
| Building Materials | 3.7% |
| Miscellaneous Manufacturing | 3.5% |
| Electronics | 3.5% |
| Retail | 3.3% |
| Distribution/Wholesale | 3.0% |
| Beverages | 2.8% |
| Food | 2.7% |
| Aerospace/Defense | 2.5% |
| Cosmetics/Personal Care | 1.8% |
| Mining | 1.7% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995231.jpg)

**Country**

![Graphical Representation - Allocation 2 Chart](chartimages_995072.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86703T105 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Putnam International Value (formerly SA Putnam International Growth and Income Portfolio)

### Class 2

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Putnam International Value Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### This report describes changes to the Portfolio that occurred during the reporting period.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Putnam International Value Portfolio (Class 2)\* | $58 | 1.08%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$325M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;147 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.3M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;16% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 24.5% |
| Insurance | 10.4% |
| Oil & Gas | 6.7% |
| Telecommunications | 4.8% |
| Pharmaceuticals | 4.6% |
| Building Materials | 3.7% |
| Miscellaneous Manufacturing | 3.5% |
| Electronics | 3.5% |
| Retail | 3.3% |
| Distribution/Wholesale | 3.0% |
| Beverages | 2.8% |
| Food | 2.7% |
| Aerospace/Defense | 2.5% |
| Cosmetics/Personal Care | 1.8% |
| Mining | 1.7% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995232.jpg)

**Country**

![Graphical Representation - Allocation 2 Chart](chartimages_995073.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C887 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Putnam International Value (formerly SA Putnam International Growth and Income Portfolio)

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Putnam International Value Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### This report describes changes to the Portfolio that occurred during the reporting period.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Putnam International Value Portfolio (Class 3)\* | $64 | 1.18%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$325M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;147 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.3M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;16% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 24.5% |
| Insurance | 10.4% |
| Oil & Gas | 6.7% |
| Telecommunications | 4.8% |
| Pharmaceuticals | 4.6% |
| Building Materials | 3.7% |
| Miscellaneous Manufacturing | 3.5% |
| Electronics | 3.5% |
| Retail | 3.3% |
| Distribution/Wholesale | 3.0% |
| Beverages | 2.8% |
| Food | 2.7% |
| Aerospace/Defense | 2.5% |
| Cosmetics/Personal Care | 1.8% |
| Mining | 1.7% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995233.jpg)

**Country**

![Graphical Representation - Allocation 2 Chart](chartimages_995074.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C879 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Schroders VCP Global Allocation

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Schroders VCP Global Allocation Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Schroders VCP Global Allocation Portfolio (Class 1)\* | $45 | 0.90%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$418M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;964 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.7M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;23% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio as of the end of the period.

**Top Industries\* (% of net assets)**

---

| | |
|:---|:---|
| Banks | 17.1% |
| Internet | 6.5% |
| Semiconductors | 6.5% |
| Insurance | 5.8% |
| Software | 5.7% |
| Pharmaceuticals | 5.0% |
| Diversified Financial Services | 4.0% |
| REITS | 3.5% |
| Electric | 3.2% |
| Short-Term Investments | 2.9% |
| Oil & Gas | 2.8% |
| Telecommunications | 2.6% |
| Retail | 2.4% |
| Computers | 2.4% |
| Auto Manufacturers | 2.2% |

---

**Country (% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_995222.jpg)

**Credit Quality <sup>\*\*</sup> (% of total debt issues)**

![Graphical Representation - Allocation 2 Chart](chartimages_995075.jpg)

*\* Percentages exclude derivatives (other than purchased options), if any.*

*\*\* Credit quality ratings shown above reflect the rating assigned by Moody's Investors Service, Inc. Where Moody's ratings are not available, we have used Standard & Poor's ratings. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. Percentages exclude short-term securities.*

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C473 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Schroders VCP Global Allocation

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Schroders VCP Global Allocation Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Schroders VCP Global Allocation Portfolio (Class 3)\* | $58 | 1.15%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$418M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;964 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$1.7M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;23% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio as of the end of the period.

**Top Industries\* (% of net assets)**

---

| | |
|:---|:---|
| Banks | 17.1% |
| Internet | 6.5% |
| Semiconductors | 6.5% |
| Insurance | 5.8% |
| Software | 5.7% |
| Pharmaceuticals | 5.0% |
| Diversified Financial Services | 4.0% |
| REITS | 3.5% |
| Electric | 3.2% |
| Short-Term Investments | 2.9% |
| Oil & Gas | 2.8% |
| Telecommunications | 2.6% |
| Retail | 2.4% |
| Computers | 2.4% |
| Auto Manufacturers | 2.2% |

---

**Country (% of net assets)**

![Graphical Representation - Allocation 1 Chart](chartimages_995223.jpg)

**Credit Quality <sup>\*\*</sup> (% of total debt issues)**

![Graphical Representation - Allocation 2 Chart](chartimages_995064.jpg)

*\* Percentages exclude derivatives (other than purchased options), if any.*

*\*\* Credit quality ratings shown above reflect the rating assigned by Moody's Investors Service, Inc. Where Moody's ratings are not available, we have used Standard & Poor's ratings. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. Percentages exclude short-term securities.*

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C614 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Small Cap Index

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Small Cap Index Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### This report describes changes to the Portfolio that occurred during the reporting period.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Small Cap Index Portfolio (Class 1)\* | $20 | 0.41%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$294M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;2006 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.4M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;21% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 9.4% |
| Biotechnology | 6.3% |
| REITS | 6.3% |
| Software | 5.5% |
| Commercial Services | 4.5% |
| Retail | 3.9% |
| Healthcare-Products | 3.3% |
| Diversified Financial Services | 3.1% |
| Electronics | 2.9% |
| Pharmaceuticals | 2.6% |
| Engineering & Construction | 2.5% |
| Telecommunications | 2.5% |
| Oil & Gas | 2.3% |
| Insurance | 2.1% |
| Healthcare-Services | 2.1% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995224.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C242 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA Small Cap Index

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA Small Cap Index Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### This report describes changes to the Portfolio that occurred during the reporting period.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA Small Cap Index Portfolio (Class 3)\* | $32 | 0.66%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$294M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;2006 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.4M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;21% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| Banks | 9.4% |
| Biotechnology | 6.3% |
| REITS | 6.3% |
| Software | 5.5% |
| Commercial Services | 4.5% |
| Retail | 3.9% |
| Healthcare-Products | 3.3% |
| Diversified Financial Services | 3.1% |
| Electronics | 2.9% |
| Pharmaceuticals | 2.6% |
| Engineering & Construction | 2.5% |
| Telecommunications | 2.5% |
| Oil & Gas | 2.3% |
| Insurance | 2.1% |
| Healthcare-Services | 2.1% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995225.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C259 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive (formerly SA T. Rowe Price Asset Allocation Growth Portfolio)

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA T. Rowe Price Allocation Moderately Aggressive Portfolio (Class 1)\* | $38 | 0.74%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$773M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1487 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$2.6M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;16% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 10.0% |
| Semiconductors | 8.0% |
| Software | 7.4% |
| Banks | 7.0% |
| Internet | 6.6% |
| Insurance | 4.5% |
| Retail | 4.4% |
| Diversified Financial Services | 3.9% |
| Pharmaceuticals | 3.5% |
| Computers | 3.2% |
| Short-Term Investments | 2.7% |
| Oil & Gas | 2.6% |
| Healthcare-Products | 2.6% |
| Aerospace/Defense | 2.4% |
| Electric | 2.0% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995226.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C374 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive (formerly SA T. Rowe Price Asset Allocation Growth Portfolio)

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA T. Rowe Price Allocation Moderately Aggressive Portfolio (Class 3)\* | $50 | 0.99%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$773M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1487 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$2.6M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;16% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 10.0% |
| Semiconductors | 8.0% |
| Software | 7.4% |
| Banks | 7.0% |
| Internet | 6.6% |
| Insurance | 4.5% |
| Retail | 4.4% |
| Diversified Financial Services | 3.9% |
| Pharmaceuticals | 3.5% |
| Computers | 3.2% |
| Short-Term Investments | 2.7% |
| Oil & Gas | 2.6% |
| Healthcare-Products | 2.6% |
| Aerospace/Defense | 2.4% |
| Electric | 2.0% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995227.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C366 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA T. Rowe Price VCP Balanced

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### This report describes changes to the Portfolio that occurred during the reporting period.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA T. Rowe Price VCP Balanced Portfolio (Class 1)\* | $42 | 0.83%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1,379M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1599 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$5.2M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;20% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 15.0% |
| Short-Term Investments | 12.0% |
| Semiconductors | 6.2% |
| Internet | 5.8% |
| Banks | 5.6% |
| Software | 4.8% |
| Insurance | 3.6% |
| Oil & Gas | 3.1% |
| Retail | 2.8% |
| REITS | 2.8% |
| Diversified Financial Services | 2.7% |
| Pharmaceuticals | 2.6% |
| Computers | 2.2% |
| Healthcare-Products | 1.9% |
| Electric | 1.7% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995216.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C465 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA T. Rowe Price VCP Balanced

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### This report describes changes to the Portfolio that occurred during the reporting period.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA T. Rowe Price VCP Balanced Portfolio (Class 3)\* | $55 | 1.08%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$1,379M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;1599 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$5.2M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;20% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Top Industries\***

---

| | |
|:---|:---|
| U.S. Government & Agency Obligations | 15.0% |
| Short-Term Investments | 12.0% |
| Semiconductors | 6.2% |
| Internet | 5.8% |
| Banks | 5.6% |
| Software | 4.8% |
| Insurance | 3.6% |
| Oil & Gas | 3.1% |
| Retail | 2.8% |
| REITS | 2.8% |
| Diversified Financial Services | 2.7% |
| Pharmaceuticals | 2.6% |
| Computers | 2.2% |
| Healthcare-Products | 1.9% |
| Electric | 1.7% |

---

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995217.jpg)

\* Percentages exclude derivatives (other than purchased options), if any.

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C598 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA VCP Dynamic Allocation

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA VCP Dynamic Allocation Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA VCP Dynamic Allocation Portfolio (Class 1)\* | $12 | 0.24%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$9,174M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;66 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$8.6M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;12% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995221.jpg)

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C580 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA VCP Dynamic Allocation

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA VCP Dynamic Allocation Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA VCP Dynamic Allocation Portfolio (Class 3)\* | $25 | 0.50%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$9,174M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;66 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$8.6M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;12% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995210.jpg)

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C697 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA VCP Dynamic Strategy

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA VCP Dynamic Strategy Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA VCP Dynamic Strategy Portfolio (Class 1)\* | $13 | 0.26%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$4,882M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;67 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$5.2M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;5% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995211.jpg)

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C572 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA VCP Dynamic Strategy

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA VCP Dynamic Strategy Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA VCP Dynamic Strategy Portfolio (Class 3)\* | $26 | 0.51%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$4,882M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;67 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$5.2M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;5% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995212.jpg)

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C663 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA VCP Index Allocation

### Class 1

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA VCP Index Allocation Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA VCP Index Allocation Portfolio (Class 1)\* | $13 | 0.26%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$553M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;19 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.5M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;6% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995213.jpg)

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C358 (09/25)

SunAmerica Series Trust

![Corebridge Logo_NEW](images_433.jpg)

### SunAmerica Series Trust SA VCP Index Allocation

### Class 3

#### SEMI-ANNUAL SHAREHOLDER REPORT \| July 31, 2025
This semi-annual shareholder report contains important information about the SunAmerica Series Trust SA VCP Index Allocation Portfolio (the "Portfolio") for the period of February 1, 2025 to July 31, 2025. You can find additional information about the Portfolio at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

#### Fund Expenses
**What were the Portfolio costs for the last six months ?**

*(Based on a hypothetical $10,000 investment)*

---

| | | |
|:---|:---|:---|
| **Portfolio (Class)** | **Costs of a $10,000 investment** | **Costs paid as a percentage<br>of a $10,000 investment** |
| SA VCP Index Allocation Portfolio (Class 3)\* | $26 | 0.52%\*\* |

---

*\** *The expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any fees and expenses that may be charged by the variable annuity contracts and variable life insurance policies that invest in the Portfolio.* 

*\*\** *Annualized* 

#### Key Fund Statistics
The following table outlines key fund statistics.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Net assets** | &nbsp;&nbsp;&nbsp;&nbsp;$553M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total number of portfolio holdings** | &nbsp;&nbsp;&nbsp;&nbsp;19 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net advisory fee paid** | &nbsp;&nbsp;&nbsp;&nbsp;$0.5M |
| &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio turnover rate during the reporting period** | &nbsp;&nbsp;&nbsp;&nbsp;6% |

---

#### Graphical Representation of Holdings
The information below represents the composition of the Portfolio's net assets as of the end of the period.

**Portfolio Composition**![Graphical Representation - Allocation 1 Chart](chartimages_995214.jpg)

#### Changes in and Disagreements with Accountants
There were no disagreements with the accountants during the period.

#### Availability of Additional Information
You can find additional information about the Portfolio such as the prospectus, financial information, fund holdings and proxy voting information at corebridgefinancial.com/getprospectus. You can also request this information by contacting us at 1-800-448-2542.

![QR Code_LA Annuity](images_434.jpg)

For additional information, please scan the QR code at left to navigate to additional hosted material at corebridgefinancial.com/getprospectus.

86704C341 (09/25)

SunAmerica Series Trust

------

(b) Not applicable.

------

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Item 2. Code of Ethics.
Not applicable.

------

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Item 3. Audit Committee Financial Expert.
Not applicable.

------

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Item 4. Principal Accountant Fees and Services.
Not applicable.

------

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Item 5. Audit Committee of Listed Registrants.
Not applicable.

------

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Item 6. Investments.
(a) Included in Item 7 to the Form.

(b) Not applicable.

------

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

------

## SunAmerica Series Trust

------

Semi-Annual Financial Statements and Other Information

July 31, 2025

------

#### Semi-Annual Financial Statements and Other Information July 31, 2025

------

---

| | |
|:---|:---|
| **TABLE OF CONTENTS** | **TABLE OF CONTENTS** |
| [Portfolio of Investments:](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_1) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA AB Growth Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_1)*[(AllianceBernstein L.P.)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_1)*<br>| &nbsp;&nbsp;4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA AB Small & Mid Cap Value Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_3)*[(AllianceBernstein L.P.)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_3)*<br>| &nbsp;&nbsp;6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA BlackRock Multi-Factor 70/30 Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_5)*[(BlackRock Investment Management, LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_5)*<br>| &nbsp;&nbsp;8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Emerging Markets Equity Index Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_6)*[(BlackRock Investment Management, LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_6)*<br>| &nbsp;&nbsp;9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Federated Hermes Corporate Bond Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_18)*[(Federated Hermes Investment Management Company)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_18)*<br>| &nbsp;&nbsp;21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;®[SA Fidelity Institutional AM Global Equities Portfolio (formerly SA JPMorgan Global Equities Portfolio)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_31)*[(FIAM, LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_31)*<br>| &nbsp;&nbsp;34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;®[SA Fidelity Institutional AM International Growth Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_36)*[(FIAM LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_36)*<br>| &nbsp;&nbsp;39 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;®[SA Fidelity Institutional AM Real Estate Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_38)*[(FIAM LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_38)*<br>| &nbsp;&nbsp;41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Fixed Income Index Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_39)*[(BlackRock Investment Management, LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_39)*<br>| &nbsp;&nbsp;42 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Fixed Income Intermediate Index Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_56)*[(BlackRock Investment Management, LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_56)*<br>| &nbsp;&nbsp;59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Franklin BW U.S. Large Cap Value Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_70)*[(Brandywine Global Investment Management, LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_70)*<br>| &nbsp;&nbsp;73 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Franklin Small Company Value Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_74)*[(Franklin Advisers, Inc)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_74)*<br>| &nbsp;&nbsp;77 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Franklin Systematic U.S. Large Cap Core Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_76)*[(Franklin Advisers, Inc)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_76)*<br>| &nbsp;&nbsp;79 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Franklin Systematic U.S. Large Cap Value Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_79)*[(Franklin Advisers, Inc)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_79)*<br>| &nbsp;&nbsp;82 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Franklin Tactical Opportunities Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_82)*[(Franklin Advisers, Inc)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_82)*<br>| &nbsp;&nbsp;85 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Global Index Allocation 60/40 Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_96)*[(SunAmerica Asset Management, LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_96)*<br>| &nbsp;&nbsp;99 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Global Index Allocation 75/25 Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_97)*[(SunAmerica Asset Management, LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_97)*<br>| &nbsp;&nbsp;100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Global Index Allocation 90/10 Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_98)*[(SunAmerica Asset Management, LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_98)*<br>| &nbsp;&nbsp;101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Goldman Sachs Multi-Asset Insights Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_99)*[(Goldman Sachs Asset Management, LP)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_99)*<br>| &nbsp;&nbsp;102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Index Allocation 60/40 Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_104)*[(SunAmerica Asset Management, LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_104)*<br>| &nbsp;&nbsp;107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Index Allocation 80/20 Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_105)*[(SunAmerica Asset Management, LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_105)*<br>| &nbsp;&nbsp;108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Index Allocation 90/10 Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_106)*[(SunAmerica Asset Management, LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_106)*<br>| &nbsp;&nbsp;109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA International Index Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_107)*[(BlackRock Investment Management, LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_107)*<br>| &nbsp;&nbsp;110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Invesco Growth Opportunities Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_116)*[(Invesco Advisers, Inc.)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_116)*<br>| &nbsp;&nbsp;119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Janus Focused Growth Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_118)*[(Janus Henderson Investors US LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_118)*<br>| &nbsp;&nbsp;121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA JPMorgan Diversified Balanced Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_119)*[(J.P. Morgan Investment Management Inc.)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_119)*<br>| &nbsp;&nbsp;122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA JPMorgan Emerging Markets Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_141)*[(J.P. Morgan Investment Management Inc.)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_141)*<br>| &nbsp;&nbsp;144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA JPMorgan Equity-Income Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_145)*[(J.P. Morgan Investment Management Inc.)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_145)*<br>| &nbsp;&nbsp;148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA JPMorgan Large Cap Core Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_147)*[(J.P. Morgan Investment Management Inc.)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_147)*<br>| &nbsp;&nbsp;150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA JPMorgan MFS Core Bond Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_149)*[(J.P. Morgan Investment Management Inc. and Massachusetts Financial Services Company)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_149)*<br>| &nbsp;&nbsp;152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA JPMorgan Mid-Cap Growth Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_170)*[(J.P. Morgan Investment Management Inc.)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_170)*<br>| &nbsp;&nbsp;173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA JPMorgan Ultra-Short Bond Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_172)*[(J.P. Morgan Investment Management Inc.)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_172)*<br>| &nbsp;&nbsp;175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Large Cap Growth Index Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_178)*[(BlackRock Investment Management, LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_178)*<br>| &nbsp;&nbsp;181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Large Cap Index Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_182)*[(BlackRock Investment Management, LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_182)*<br>| &nbsp;&nbsp;185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Large Cap Value Index Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_188)*[(BlackRock Investment Management, LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_188)*<br>| &nbsp;&nbsp;191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA MFS Large Cap Growth Portfolio (formerly SA MFS Blue Chip Growth Portfolio)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_194)*[(Massachusetts Financial Services Company)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_194)*<br>| &nbsp;&nbsp;197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA MFS Massachusetts Investors Trust Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_197)*[(Massachusetts Financial Services Company)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_197)*<br>| &nbsp;&nbsp;200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA MFS Total Return Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_199)*[(Massachusetts Financial Services Company)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_199)*<br>| &nbsp;&nbsp;202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Mid Cap Index Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_208)*[(BlackRock Investment Management, LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_208)*<br>| &nbsp;&nbsp;211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Morgan Stanley International Equities Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_214)*[(Morgan Stanley Investment Management, Inc.)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_214)*<br>| &nbsp;&nbsp;217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA PIMCO Global Bond Opportunities Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_216)*[(Pacific Investment Management Company, LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_216)*<br>| &nbsp;&nbsp;219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA PIMCO RAE International Value Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_230)*[(Pacific Investment Management Company, LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_230)*<br>| &nbsp;&nbsp;233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA PineBridge High-Yield Bond Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_234)*[(PineBridge Investments, LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_234)*<br>| &nbsp;&nbsp;237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Putnam International Value Portfolio (formerly SA Putnam International Growth and Income Portfolio)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_241)*[(Putnam Investment Management, LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_241)*<br>| &nbsp;&nbsp;244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Schroders VCP Global Allocation Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_245)*[(Schroders Investment Management North America, Inc.)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_245)*<br>| &nbsp;&nbsp;248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA Small Cap Index Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_258)*[(BlackRock Investment Management, LLC)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_258)*<br>| &nbsp;&nbsp;261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA T. Rowe Price Allocation Moderately Aggressive Portfolio (formerly SA T. Rowe Price Asset Allocation Growth Portfolio)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_278)*[(T. Rowe Price Associates, Inc.)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_278)*<br>| &nbsp;&nbsp;281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA T. Rowe Price VCP Balanced Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_299)*[(T. Rowe Price Associates, Inc.)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_299)*<br>| &nbsp;&nbsp;302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA VCP Dynamic Allocation Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_320)*[(SunAmerica Asset Management, LLC and AllianceBernstein L.P.)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_320)*<br>| &nbsp;&nbsp;323 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### Semi-Annual Financial Statements and Other Information July 31, 2025

------

---

| | |
|:---|:---|
| ****TABLE OF CONTENTS** — (continued)** | ****TABLE OF CONTENTS** — (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA VCP Dynamic Strategy Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_322)*[(SunAmerica Asset Management, LLC and AllianceBernstein L.P.)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_322)*<br>| &nbsp;&nbsp;325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[SA VCP Index Allocation Portfolio](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_324)*[(SunAmerica Asset Management, LLC and T. Rowe Price Associates, Inc.)](#xx_13bed962-a9b3-4432-b699-b7107e4d8902_324)*<br>| &nbsp;&nbsp;327 |
| [Statements of Assets and Liabilities](#xx_53191a01-5d28-420a-9ed7-1bc3683dee9f_1)<br>| &nbsp;&nbsp;329 |
| [Statements of Operations](#xx_53191a01-5d28-420a-9ed7-1bc3683dee9f_23)<br>| &nbsp;&nbsp;351 |
| [Statements of Changes in Net Assets](#xx_53191a01-5d28-420a-9ed7-1bc3683dee9f_34)<br>| &nbsp;&nbsp;362 |
| [Notes to Financial Statements](#xx_248d46e0-8236-4acf-b1c9-ca4db889daab_1)<br>| &nbsp;&nbsp;371 |
| [Financial Highlights](#xx_f9821206-f64d-4be0-8747-45f6b3786009_1)<br>| &nbsp;&nbsp;417 |
| [Changes in and Disagreements with Accountants (Item 8 Form N-CSR)](#xx_d2816f8a-ce2d-4d1e-b6ad-6f392c317a84_1)<br>| &nbsp;&nbsp;444 |
| [Results of Special Shareholder Meeting (Item 9 Form N-CSR)](#xx_d29f0a3f-3536-4f8e-bdda-6a294c1f4a52_1)<br>| &nbsp;&nbsp;445 |
| [Remuneration Paid to Directors, Officers, and Others (Item 10 Form N-CSR)](#xx_f143a6c1-c7fd-4f33-8d90-4c2af110dada_1)<br>| &nbsp;&nbsp;446 |
| [Approval of Advisory and Subadvisory Agreements (Item 11 Form N-CSR)](#xx_36289c5b-5ee3-42f1-9627-851349bef751_1)<br>| &nbsp;&nbsp;447 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA AB Growth Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.2%** | **COMMON STOCKS — 99.2%** | **COMMON STOCKS — 99.2%** |
| **Apparel — 0.6%** | **Apparel — 0.6%** | **Apparel — 0.6%** |
| &nbsp;&nbsp;&nbsp;On Holding AG, Class A† | &nbsp;&nbsp;&nbsp;&nbsp;216624 | &nbsp;&nbsp;$10521428 |
| **Auto Manufacturers — 0.8%** | **Auto Manufacturers — 0.8%** | **Auto Manufacturers — 0.8%** |
| &nbsp;&nbsp;&nbsp;Ferrari NV | &nbsp;&nbsp;&nbsp;&nbsp;34729 | &nbsp;&nbsp;&nbsp;&nbsp; 15398491 |
| **Beverages — 2.3%** | **Beverages — 2.3%** | **Beverages — 2.3%** |
| &nbsp;&nbsp;&nbsp;Celsius Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;226278 | &nbsp;&nbsp;&nbsp;&nbsp; 10259444 |
| &nbsp;&nbsp;&nbsp;Monster Beverage Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;552144 | &nbsp;&nbsp;&nbsp;&nbsp; 32438460 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42697904 |
| **Biotechnology — 1.6%** | **Biotechnology — 1.6%** | **Biotechnology — 1.6%** |
| &nbsp;&nbsp;&nbsp;Genmab A/S ADR† | &nbsp;&nbsp;&nbsp;&nbsp;264008 | &nbsp;&nbsp;&nbsp;&nbsp; 5721054 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;52614 | &nbsp;&nbsp;&nbsp;&nbsp; 24037758 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29758812 |
| **Building Materials — 0.4%** | **Building Materials — 0.4%** | **Building Materials — 0.4%** |
| &nbsp;&nbsp;&nbsp;Trex Co., Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;124300 | &nbsp;&nbsp;&nbsp;&nbsp; 7985032 |
| **Chemicals — 1.2%** | **Chemicals — 1.2%** | **Chemicals — 1.2%** |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | &nbsp;&nbsp;&nbsp;&nbsp;66653 | &nbsp;&nbsp;&nbsp;&nbsp; 22054145 |
| **Commercial Services — 1.9%** | **Commercial Services — 1.9%** | **Commercial Services — 1.9%** |
| &nbsp;&nbsp;&nbsp;United Rentals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12150 | &nbsp;&nbsp;&nbsp;&nbsp; 10727721 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;88095 | &nbsp;&nbsp;&nbsp;&nbsp; 24552957 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35280678 |
| **Distribution/Wholesale — 1.0%** | **Distribution/Wholesale — 1.0%** | **Distribution/Wholesale — 1.0%** |
| &nbsp;&nbsp;&nbsp;Copart, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;421755 | &nbsp;&nbsp;&nbsp;&nbsp; 19118154 |
| **Diversified Financial Services — 5.6%** | **Diversified Financial Services — 5.6%** | **Diversified Financial Services — 5.6%** |
| &nbsp;&nbsp;&nbsp;Cboe Global Markets, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;104093 | &nbsp;&nbsp;&nbsp;&nbsp; 25090577 |
| &nbsp;&nbsp;&nbsp;Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;228071 | &nbsp;&nbsp;&nbsp;&nbsp; 78791688 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103882265 |
| **Electronics — 0.7%** | **Electronics — 0.7%** | **Electronics — 0.7%** |
| &nbsp;&nbsp;&nbsp;Mettler-Toledo International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10696 | &nbsp;&nbsp;&nbsp;&nbsp; 13195441 |
| **Healthcare-Products — 3.8%** | **Healthcare-Products — 3.8%** | **Healthcare-Products — 3.8%** |
| &nbsp;&nbsp;&nbsp;ABIOMED, Inc. CVR†(1) | &nbsp;&nbsp;&nbsp;&nbsp;29276 | &nbsp;&nbsp;&nbsp;&nbsp; 73922 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;61136 | &nbsp;&nbsp;&nbsp;&nbsp; 29411918 |
| &nbsp;&nbsp;&nbsp;Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;69246 | &nbsp;&nbsp;&nbsp;&nbsp; 27194982 |
| &nbsp;&nbsp;&nbsp;Waters Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;47908 | &nbsp;&nbsp;&nbsp;&nbsp; 13833914 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70514736 |
| **Healthcare-Services — 0.4%** | **Healthcare-Services — 0.4%** | **Healthcare-Services — 0.4%** |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26366 | &nbsp;&nbsp;&nbsp;&nbsp; 6579899 |
| **Insurance — 0.9%** | **Insurance — 0.9%** | **Insurance — 0.9%** |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;72837 | &nbsp;&nbsp;&nbsp;&nbsp; 17629467 |
| **Internet — 23.9%** | **Internet — 23.9%** | **Internet — 23.9%** |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;505028 | &nbsp;&nbsp;&nbsp;&nbsp; 97399700 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;524470 | &nbsp;&nbsp;&nbsp;&nbsp; 122783672 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;158002 | &nbsp;&nbsp;&nbsp;&nbsp; 122205067 |
| &nbsp;&nbsp;&nbsp;Netflix, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;73076 | &nbsp;&nbsp;&nbsp;&nbsp; 84724314 |
| &nbsp;&nbsp;&nbsp;Reddit, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;45776 | &nbsp;&nbsp;&nbsp;&nbsp; 7351168 |
| &nbsp;&nbsp;&nbsp;Shopify, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;79196 | &nbsp;&nbsp;&nbsp;&nbsp; 9678543 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444142464 |
| **Machinery-Diversified — 1.0%** | **Machinery-Diversified — 1.0%** | **Machinery-Diversified — 1.0%** |
| &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;211676 | &nbsp;&nbsp;&nbsp;&nbsp; 18138516 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Miscellaneous Manufacturing — 0.5%** | **Miscellaneous Manufacturing — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;Axon Enterprise, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;11648 | &nbsp;&nbsp;$8799948 |
| **Pharmaceuticals — 3.3%** | **Pharmaceuticals — 3.3%** |  |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;61073 | &nbsp;&nbsp;&nbsp;&nbsp; 45198295 |
| &nbsp;&nbsp;&nbsp;McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23375 | &nbsp;&nbsp;&nbsp;&nbsp; 16211498 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61409793 |
| **Retail — 7.1%** | **Retail — 7.1%** |  |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;502105 | &nbsp;&nbsp;&nbsp;&nbsp; 21530262 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp;47370 | &nbsp;&nbsp;&nbsp;&nbsp; 44510747 |
| &nbsp;&nbsp;&nbsp;Home Depot, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;95968 | &nbsp;&nbsp;&nbsp;&nbsp; 35269200 |
| &nbsp;&nbsp;&nbsp;Lululemon Athletica, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;35079 | &nbsp;&nbsp;&nbsp;&nbsp; 7034392 |
| &nbsp;&nbsp;&nbsp;Texas Roadhouse, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;60045 | &nbsp;&nbsp;&nbsp;&nbsp; 11116131 |
| &nbsp;&nbsp;&nbsp;Tractor Supply Co. | &nbsp;&nbsp;&nbsp;&nbsp;219389 | &nbsp;&nbsp;&nbsp;&nbsp; 12494203 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131954935 |
| **Semiconductors — 24.4%** | **Semiconductors — 24.4%** |  |
| &nbsp;&nbsp;&nbsp;Applied Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;209943 | &nbsp;&nbsp;&nbsp;&nbsp; 37802337 |
| &nbsp;&nbsp;&nbsp;ASML Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;12042 | &nbsp;&nbsp;&nbsp;&nbsp; 8365698 |
| &nbsp;&nbsp;&nbsp;Astera Labs, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;88606 | &nbsp;&nbsp;&nbsp;&nbsp; 12115098 |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;335786 | &nbsp;&nbsp;&nbsp;&nbsp; 98620348 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 1216144 | &nbsp;&nbsp;&nbsp;&nbsp; 216315533 |
| &nbsp;&nbsp;&nbsp;QUALCOMM, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;126919 | &nbsp;&nbsp;&nbsp;&nbsp; 18626632 |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co., Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;124109 | &nbsp;&nbsp;&nbsp;&nbsp; 29987217 |
| &nbsp;&nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;179097 | &nbsp;&nbsp;&nbsp;&nbsp; 32427303 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454260166 |
| **Software — 15.8%** | **Software — 15.8%** |  |
| &nbsp;&nbsp;&nbsp;AppLovin Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;33859 | &nbsp;&nbsp;&nbsp;&nbsp; 13228711 |
| &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;45340 | &nbsp;&nbsp;&nbsp;&nbsp; 11222103 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;49095 | &nbsp;&nbsp;&nbsp;&nbsp; 17898564 |
| &nbsp;&nbsp;&nbsp;Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8350 | &nbsp;&nbsp;&nbsp;&nbsp; 6555836 |
| &nbsp;&nbsp;&nbsp;Manhattan Associates, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;45336 | &nbsp;&nbsp;&nbsp;&nbsp; 9958506 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;317817 | &nbsp;&nbsp;&nbsp;&nbsp; 169555370 |
| &nbsp;&nbsp;&nbsp;ServiceNow, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;20324 | &nbsp;&nbsp;&nbsp;&nbsp; 19167971 |
| &nbsp;&nbsp;&nbsp;Synopsys, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;27772 | &nbsp;&nbsp;&nbsp;&nbsp; 17592729 |
| &nbsp;&nbsp;&nbsp;Veeva Systems, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;101587 | &nbsp;&nbsp;&nbsp;&nbsp; 28871025 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294050815 |
| **Telecommunications — 1.4%** | **Telecommunications — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;Arista Networks, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;115532 | &nbsp;&nbsp;&nbsp;&nbsp; 14235853 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25517 | &nbsp;&nbsp;&nbsp;&nbsp; 11201453 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25437306 |
| **Transportation — 0.6%** | **Transportation — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;Saia, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;35697 | &nbsp;&nbsp;&nbsp;&nbsp; 10789061 |
| **TOTAL INVESTMENTS<br> (cost $1,115,796,720)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.2% | &nbsp;&nbsp;&nbsp;&nbsp;1843599456 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14076332 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$1857675788 |

---

† Non-income producing security

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

(2) See Note 4 for cost of investments on a tax basis.

ADR—American Depositary Receipt <br> CVR—Contingent Value Rights

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA AB Growth Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Healthcare-Products | &nbsp;&nbsp;$70440814 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$73922 | &nbsp;&nbsp;$70514736 |
| &nbsp;&nbsp;&nbsp;Other Industries | &nbsp;&nbsp;&nbsp;&nbsp;1773084720 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1773084720 |
| **Total Investments at Value** | &nbsp;&nbsp;$1843525534 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$73922 | &nbsp;&nbsp;$1843599456 |

---

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

Level 3 investments in securities were not considered a significant portion of the Portfolio's net assets.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA AB Small & Mid Cap Value Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.9%** | **COMMON STOCKS — 99.9%** | **COMMON STOCKS — 99.9%** |
| **Aerospace/Defense — 1.1%** | **Aerospace/Defense — 1.1%** | **Aerospace/Defense — 1.1%** |
| &nbsp;&nbsp;&nbsp;Hexcel Corp. | 87504 | &nbsp;&nbsp;$5242365 |
| **Apparel — 1.3%** | **Apparel — 1.3%** | **Apparel — 1.3%** |
| &nbsp;&nbsp;&nbsp;Crocs, Inc.† | 61255 | &nbsp;&nbsp;&nbsp;&nbsp; 6108961 |
| **Auto Parts & Equipment — 1.4%** | **Auto Parts & Equipment — 1.4%** | **Auto Parts & Equipment — 1.4%** |
| &nbsp;&nbsp;&nbsp;BorgWarner, Inc. | 178049 | &nbsp;&nbsp;&nbsp;&nbsp; 6552203 |
| **Banks — 9.6%** | **Banks — 9.6%** | **Banks — 9.6%** |
| &nbsp;&nbsp;&nbsp;Comerica, Inc. | 63317 | &nbsp;&nbsp;&nbsp;&nbsp; 4278330 |
| &nbsp;&nbsp;&nbsp;First BanCorp. | 201435 | &nbsp;&nbsp;&nbsp;&nbsp; 4195891 |
| &nbsp;&nbsp;&nbsp;First Citizens BancShares, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;2999 | &nbsp;&nbsp;&nbsp;&nbsp; 5982285 |
| &nbsp;&nbsp;&nbsp;First Hawaiian, Inc. | 172696 | &nbsp;&nbsp;&nbsp;&nbsp; 4187878 |
| &nbsp;&nbsp;&nbsp;Independent Bank Corp. | 69948 | &nbsp;&nbsp;&nbsp;&nbsp; 4445195 |
| &nbsp;&nbsp;&nbsp;Texas Capital Bancshares, Inc.† | 48886 | &nbsp;&nbsp;&nbsp;&nbsp; 4104958 |
| &nbsp;&nbsp;&nbsp;UMB Financial Corp. | 57821 | &nbsp;&nbsp;&nbsp;&nbsp; 6359732 |
| &nbsp;&nbsp;&nbsp;Walker & Dunlop, Inc. | 45281 | &nbsp;&nbsp;&nbsp;&nbsp; 3396528 |
| &nbsp;&nbsp;&nbsp;Webster Financial Corp. | 70551 | &nbsp;&nbsp;&nbsp;&nbsp; 4067265 |
| &nbsp;&nbsp;&nbsp;Wintrust Financial Corp. | 38530 | &nbsp;&nbsp;&nbsp;&nbsp; 4931069 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;45949131 |
| **Chemicals — 2.5%** | **Chemicals — 2.5%** | **Chemicals — 2.5%** |
| &nbsp;&nbsp;&nbsp;Avient Corp. | 143380 | &nbsp;&nbsp;&nbsp;&nbsp; 4526507 |
| &nbsp;&nbsp;&nbsp;RPM International, Inc. | 60956 | &nbsp;&nbsp;&nbsp;&nbsp; 7156844 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11683351 |
| **Commercial Services — 6.6%** | **Commercial Services — 6.6%** | **Commercial Services — 6.6%** |
| &nbsp;&nbsp;&nbsp;ADT, Inc. | 764548 | &nbsp;&nbsp;&nbsp;&nbsp; 6383976 |
| &nbsp;&nbsp;&nbsp;First Advantage Corp.† | 277990 | &nbsp;&nbsp;&nbsp;&nbsp; 4806447 |
| &nbsp;&nbsp;&nbsp;GXO Logistics, Inc.† | 121036 | &nbsp;&nbsp;&nbsp;&nbsp; 6016699 |
| &nbsp;&nbsp;&nbsp;Herc Holdings, Inc. | 37885 | &nbsp;&nbsp;&nbsp;&nbsp; 4425347 |
| &nbsp;&nbsp;&nbsp;Laureate Education, Inc.† | 214136 | &nbsp;&nbsp;&nbsp;&nbsp; 4839474 |
| &nbsp;&nbsp;&nbsp;WillScot Holdings Corp. | 173375 | &nbsp;&nbsp;&nbsp;&nbsp; 5088556 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;31560499 |
| **Computers — 6.0%** | **Computers — 6.0%** | **Computers — 6.0%** |
| &nbsp;&nbsp;&nbsp;CACI International, Inc., Class A† | 13856 | &nbsp;&nbsp;&nbsp;&nbsp; 6381658 |
| &nbsp;&nbsp;&nbsp;Crane NXT Co. | 83301 | &nbsp;&nbsp;&nbsp;&nbsp; 4943081 |
| &nbsp;&nbsp;&nbsp;Globant SA† | 54242 | &nbsp;&nbsp;&nbsp;&nbsp; 4570431 |
| &nbsp;&nbsp;&nbsp;Lumentum Holdings, Inc.† | 52199 | &nbsp;&nbsp;&nbsp;&nbsp; 5746066 |
| &nbsp;&nbsp;&nbsp;NCR Atleos Corp.† | 225671 | &nbsp;&nbsp;&nbsp;&nbsp; 6905533 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;28546769 |
| **Distribution/Wholesale — 1.2%** | **Distribution/Wholesale — 1.2%** | **Distribution/Wholesale — 1.2%** |
| &nbsp;&nbsp;&nbsp;Core & Main, Inc., Class A† | 89874 | &nbsp;&nbsp;&nbsp;&nbsp; 5719581 |
| **Diversified Financial Services — 3.6%** | **Diversified Financial Services — 3.6%** | **Diversified Financial Services — 3.6%** |
| &nbsp;&nbsp;&nbsp;Cboe Global Markets, Inc. | 17428 | &nbsp;&nbsp;&nbsp;&nbsp; 4200845 |
| &nbsp;&nbsp;&nbsp;Invesco, Ltd. | 346219 | &nbsp;&nbsp;&nbsp;&nbsp; 7274061 |
| &nbsp;&nbsp;&nbsp;Stifel Financial Corp. | 51038 | &nbsp;&nbsp;&nbsp;&nbsp; 5824457 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;17299363 |
| **Electric — 1.7%** | **Electric — 1.7%** | **Electric — 1.7%** |
| &nbsp;&nbsp;&nbsp;IDACORP, Inc. | 63199 | &nbsp;&nbsp;&nbsp;&nbsp; 7920731 |
| **Electrical Components & Equipment — 0.5%** | **Electrical Components & Equipment — 0.5%** | **Electrical Components & Equipment — 0.5%** |
| &nbsp;&nbsp;&nbsp;Belden, Inc. | 18695 | &nbsp;&nbsp;&nbsp;&nbsp; 2311637 |
| **Electronics — 2.1%** | **Electronics — 2.1%** | **Electronics — 2.1%** |
| &nbsp;&nbsp;&nbsp;Avnet, Inc. | 80685 | &nbsp;&nbsp;&nbsp;&nbsp; 4271464 |
| &nbsp;&nbsp;&nbsp;TD SYNNEX Corp. | 41157 | &nbsp;&nbsp;&nbsp;&nbsp; 5942659 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10214123 |
| **Engineering & Construction — 1.2%** | **Engineering & Construction — 1.2%** | **Engineering & Construction — 1.2%** |
| &nbsp;&nbsp;&nbsp;Fluor Corp.† | 104735 | &nbsp;&nbsp;&nbsp;&nbsp; 5945806 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Environmental Control — 1.4%** | **Environmental Control — 1.4%** | **Environmental Control — 1.4%** |
| &nbsp;&nbsp;&nbsp;Pentair PLC | 64180 | &nbsp;&nbsp;$6559196 |
| **Food — 1.3%** | **Food — 1.3%** | **Food — 1.3%** |
| &nbsp;&nbsp;&nbsp;Nomad Foods, Ltd. | 362342 | &nbsp;&nbsp;&nbsp;&nbsp; 6101839 |
| **Gas — 1.0%** | **Gas — 1.0%** | **Gas — 1.0%** |
| &nbsp;&nbsp;&nbsp;ONE Gas, Inc. | 66573 | &nbsp;&nbsp;&nbsp;&nbsp; 4839857 |
| **Healthcare-Products — 3.4%** | **Healthcare-Products — 3.4%** | **Healthcare-Products — 3.4%** |
| &nbsp;&nbsp;&nbsp;Envista Holdings Corp.† | 289588 | &nbsp;&nbsp;&nbsp;&nbsp; 5470317 |
| &nbsp;&nbsp;&nbsp;Globus Medical, Inc., Class A† | 98572 | &nbsp;&nbsp;&nbsp;&nbsp; 5187844 |
| &nbsp;&nbsp;&nbsp;Integer Holdings Corp.† | 51313 | &nbsp;&nbsp;&nbsp;&nbsp; 5567974 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;16226135 |
| **Healthcare-Services — 4.3%** | **Healthcare-Services — 4.3%** | **Healthcare-Services — 4.3%** |
| &nbsp;&nbsp;&nbsp;Encompass Health Corp. | 65013 | &nbsp;&nbsp;&nbsp;&nbsp; 7158581 |
| &nbsp;&nbsp;&nbsp;ICON PLC† | 38838 | &nbsp;&nbsp;&nbsp;&nbsp; 6571001 |
| &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp.† | 40734 | &nbsp;&nbsp;&nbsp;&nbsp; 6569580 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;20299162 |
| **Home Furnishings — 0.9%** | **Home Furnishings — 0.9%** | **Home Furnishings — 0.9%** |
| &nbsp;&nbsp;&nbsp;MillerKnoll, Inc. | 222762 | &nbsp;&nbsp;&nbsp;&nbsp; 4228023 |
| **Household Products/Wares — 1.1%** | **Household Products/Wares — 1.1%** | **Household Products/Wares — 1.1%** |
| &nbsp;&nbsp;&nbsp;WD-40 Co. | 24680 | &nbsp;&nbsp;&nbsp;&nbsp; 5291392 |
| **Insurance — 2.8%** | **Insurance — 2.8%** | **Insurance — 2.8%** |
| &nbsp;&nbsp;&nbsp;American Financial Group, Inc. | 49360 | &nbsp;&nbsp;&nbsp;&nbsp; 6165064 |
| &nbsp;&nbsp;&nbsp;Hanover Insurance Group, Inc. | 42294 | &nbsp;&nbsp;&nbsp;&nbsp; 7258919 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;13423983 |
| **Internet — 1.7%** | **Internet — 1.7%** | **Internet — 1.7%** |
| &nbsp;&nbsp;&nbsp;Criteo SA ADR† | 163499 | &nbsp;&nbsp;&nbsp;&nbsp; 3979566 |
| &nbsp;&nbsp;&nbsp;F5, Inc.† | 12636 | &nbsp;&nbsp;&nbsp;&nbsp; 3960375 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7939941 |
| **Investment Companies — 1.1%** | **Investment Companies — 1.1%** | **Investment Companies — 1.1%** |
| &nbsp;&nbsp;&nbsp;HA Sustainable Infrastructure Capital, Inc. | 199122 | &nbsp;&nbsp;&nbsp;&nbsp; 5171198 |
| **Iron/Steel — 1.1%** | **Iron/Steel — 1.1%** | **Iron/Steel — 1.1%** |
| &nbsp;&nbsp;&nbsp;Reliance, Inc. | 18616 | &nbsp;&nbsp;&nbsp;&nbsp; 5401060 |
| **Leisure Time — 1.1%** | **Leisure Time — 1.1%** | **Leisure Time — 1.1%** |
| &nbsp;&nbsp;&nbsp;Brunswick Corp. | 85971 | &nbsp;&nbsp;&nbsp;&nbsp; 5011250 |
| **Machinery-Construction & Mining — 1.2%** | **Machinery-Construction & Mining — 1.2%** | **Machinery-Construction & Mining — 1.2%** |
| &nbsp;&nbsp;&nbsp;Oshkosh Corp. | 46880 | &nbsp;&nbsp;&nbsp;&nbsp; 5931726 |
| **Machinery-Diversified — 2.5%** | **Machinery-Diversified — 2.5%** | **Machinery-Diversified — 2.5%** |
| &nbsp;&nbsp;&nbsp;CNH Industrial NV | 379950 | &nbsp;&nbsp;&nbsp;&nbsp; 4924152 |
| &nbsp;&nbsp;&nbsp;Regal Rexnord Corp. | 45263 | &nbsp;&nbsp;&nbsp;&nbsp; 6919807 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11843959 |
| **Media — 1.4%** | **Media — 1.4%** | **Media — 1.4%** |
| &nbsp;&nbsp;&nbsp;Nexstar Media Group, Inc. | 36877 | &nbsp;&nbsp;&nbsp;&nbsp; 6900055 |
| **Mining — 0.5%** | **Mining — 0.5%** | **Mining — 0.5%** |
| &nbsp;&nbsp;&nbsp;Cameco Corp. | 29236 | &nbsp;&nbsp;&nbsp;&nbsp; 2190654 |
| **Miscellaneous Manufacturing — 1.4%** | **Miscellaneous Manufacturing — 1.4%** | **Miscellaneous Manufacturing — 1.4%** |
| &nbsp;&nbsp;&nbsp;JBT Marel Corp. | 46649 | &nbsp;&nbsp;&nbsp;&nbsp; 6428232 |
| **Oil & Gas — 3.4%** | **Oil & Gas — 3.4%** | **Oil & Gas — 3.4%** |
| &nbsp;&nbsp;&nbsp;HF Sinclair Corp. | 44148 | &nbsp;&nbsp;&nbsp;&nbsp; 1939863 |
| &nbsp;&nbsp;&nbsp;Magnolia Oil & Gas Corp., Class A | 210584 | &nbsp;&nbsp;&nbsp;&nbsp; 5016111 |
| &nbsp;&nbsp;&nbsp;Matador Resources Co. | 110582 | &nbsp;&nbsp;&nbsp;&nbsp; 5515830 |
| &nbsp;&nbsp;&nbsp;Northern Oil & Gas, Inc. | 139863 | &nbsp;&nbsp;&nbsp;&nbsp; 3938542 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;16410346 |
| **Oil & Gas Services — 1.3%** | **Oil & Gas Services — 1.3%** | **Oil & Gas Services — 1.3%** |
| &nbsp;&nbsp;&nbsp;TechnipFMC PLC | 175443 | &nbsp;&nbsp;&nbsp;&nbsp; 6380862 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA AB Small & Mid Cap Value Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Packaging & Containers — 2.3%** | **Packaging & Containers — 2.3%** | **Packaging & Containers — 2.3%** |
| &nbsp;&nbsp;&nbsp;Graphic Packaging Holding Co. | 285624 | &nbsp;&nbsp;$6386552 |
| &nbsp;&nbsp;&nbsp;O-I Glass, Inc.† | 334879 | &nbsp;&nbsp;&nbsp;&nbsp; 4356776 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10743328 |
| **Real Estate — 1.6%** | **Real Estate — 1.6%** | **Real Estate — 1.6%** |
| &nbsp;&nbsp;&nbsp;Jones Lang LaSalle, Inc.† | 28420 | &nbsp;&nbsp;&nbsp;&nbsp; 7683631 |
| **REITS — 6.6%** | **REITS — 6.6%** | **REITS — 6.6%** |
| &nbsp;&nbsp;&nbsp;American Healthcare REIT, Inc. | 168160 | &nbsp;&nbsp;&nbsp;&nbsp; 6497703 |
| &nbsp;&nbsp;&nbsp;Broadstone Net Lease, Inc. | 163130 | &nbsp;&nbsp;&nbsp;&nbsp; 2649231 |
| &nbsp;&nbsp;&nbsp;COPT Defense Properties | 225730 | &nbsp;&nbsp;&nbsp;&nbsp; 6157914 |
| &nbsp;&nbsp;&nbsp;CubeSmart | 70674 | &nbsp;&nbsp;&nbsp;&nbsp; 2749925 |
| &nbsp;&nbsp;&nbsp;Independence Realty Trust, Inc. | 331720 | &nbsp;&nbsp;&nbsp;&nbsp; 5562944 |
| &nbsp;&nbsp;&nbsp;Ryman Hospitality Properties, Inc. | 34694 | &nbsp;&nbsp;&nbsp;&nbsp; 3298012 |
| &nbsp;&nbsp;&nbsp;STAG Industrial, Inc. | 138565 | &nbsp;&nbsp;&nbsp;&nbsp; 4756937 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;31672666 |
| **Retail — 7.0%** | **Retail — 7.0%** | **Retail — 7.0%** |
| &nbsp;&nbsp;&nbsp;AutoNation, Inc.† | 20414 | &nbsp;&nbsp;&nbsp;&nbsp; 3932553 |
| &nbsp;&nbsp;&nbsp;Bath & Body Works, Inc. | 216051 | &nbsp;&nbsp;&nbsp;&nbsp; 6256837 |
| &nbsp;&nbsp;&nbsp;BJ's Wholesale Club Holdings, Inc.† | 85940 | &nbsp;&nbsp;&nbsp;&nbsp; 9101046 |
| &nbsp;&nbsp;&nbsp;Cracker Barrel Old Country Store, Inc. | 61136 | &nbsp;&nbsp;&nbsp;&nbsp; 3790432 |
| &nbsp;&nbsp;&nbsp;Dollar Tree, Inc.† | 60675 | &nbsp;&nbsp;&nbsp;&nbsp; 6889646 |
| &nbsp;&nbsp;&nbsp;Group 1 Automotive, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;7665 | &nbsp;&nbsp;&nbsp;&nbsp; 3159130 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;33129644 |
| **Savings & Loans — 0.6%** | **Savings & Loans — 0.6%** | **Savings & Loans — 0.6%** |
| &nbsp;&nbsp;&nbsp;Flagstar Financial, Inc. | 259616 | &nbsp;&nbsp;&nbsp;&nbsp; 2931065 |
| **Semiconductors — 2.8%** | **Semiconductors — 2.8%** | **Semiconductors — 2.8%** |
| &nbsp;&nbsp;&nbsp;FormFactor, Inc.† | 103733 | &nbsp;&nbsp;&nbsp;&nbsp; 2947055 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Semiconductors (continued)** | **Semiconductors (continued)** |  |
| &nbsp;&nbsp;&nbsp;IPG Photonics Corp.† | 68390 | &nbsp;&nbsp;$5121727 |
| &nbsp;&nbsp;&nbsp;ON Semiconductor Corp.† | 90356 | &nbsp;&nbsp;&nbsp;&nbsp; 5092464 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;13161246 |
| **Software — 2.1%** | **Software — 2.1%** |  |
| &nbsp;&nbsp;&nbsp;ACI Worldwide, Inc.† | 100328 | &nbsp;&nbsp;&nbsp;&nbsp; 4269959 |
| &nbsp;&nbsp;&nbsp;Commvault Systems, Inc.† | 10963 | &nbsp;&nbsp;&nbsp;&nbsp; 2082422 |
| &nbsp;&nbsp;&nbsp;NICE, Ltd. ADR† | 23060 | &nbsp;&nbsp;&nbsp;&nbsp; 3598513 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9950894 |
| **Telecommunications — 0.8%** | **Telecommunications — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;Calix, Inc.† | 71137 | &nbsp;&nbsp;&nbsp;&nbsp; 4032757 |
| **Transportation — 4.4%** | **Transportation — 4.4%** |  |
| &nbsp;&nbsp;&nbsp;ArcBest Corp. | 71535 | &nbsp;&nbsp;&nbsp;&nbsp; 5231355 |
| &nbsp;&nbsp;&nbsp;C.H. Robinson Worldwide, Inc. | 50647 | &nbsp;&nbsp;&nbsp;&nbsp; 5840612 |
| &nbsp;&nbsp;&nbsp;Kirby Corp.† | 49721 | &nbsp;&nbsp;&nbsp;&nbsp; 4738908 |
| &nbsp;&nbsp;&nbsp;Star Bulk Carriers Corp. | 276657 | &nbsp;&nbsp;&nbsp;&nbsp; 5051757 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;20862632 |
| **TOTAL INVESTMENTS<br> (cost $451,970,913)(1)** | &nbsp;&nbsp;&nbsp;&nbsp;99.9% | &nbsp;&nbsp;&nbsp;&nbsp;475801253 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685566 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$476486819 |

---

† Non-income producing security

(1) See Note 4 for cost of investments on a tax basis.

ADR—American Depositary Receipt

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$475801253 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$475801253 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA BlackRock Multi-Factor 70/30 Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **AFFILIATED INVESTMENT COMPANIES — 8.9%** | **AFFILIATED INVESTMENT COMPANIES — 8.9%** | **AFFILIATED INVESTMENT COMPANIES — 8.9%** |
| **Investment Companies — 8.9%** | **Investment Companies — 8.9%** | **Investment Companies — 8.9%** |
| &nbsp;&nbsp;&nbsp;iShares U.S. Fixed Income Balanced Risk Systematic ETF(1)<br> (cost $11,123,485) | 116250 | &nbsp;&nbsp;$10280197 |
| **UNAFFILIATED INVESTMENT COMPANIES — 91.0%** | **UNAFFILIATED INVESTMENT COMPANIES — 91.0%** | **UNAFFILIATED INVESTMENT COMPANIES — 91.0%** |
| &nbsp;&nbsp;&nbsp;iShares Core U.S. Aggregate Bond ETF | 252244 | &nbsp;&nbsp;&nbsp;&nbsp; 24876303 |
| &nbsp;&nbsp;&nbsp;iShares MSCI EAFE Min Vol Factor ETF | 16318 | &nbsp;&nbsp;&nbsp;&nbsp; 1334160 |
| &nbsp;&nbsp;&nbsp;iShares MSCI EAFE Small-Cap ETF | 60091 | &nbsp;&nbsp;&nbsp;&nbsp; 4351189 |
| &nbsp;&nbsp;&nbsp;iShares MSCI International Momentum Factor ETF | 155283 | &nbsp;&nbsp;&nbsp;&nbsp; 6950467 |
| &nbsp;&nbsp;&nbsp;iShares MSCI International Quality Factor ETF | 179196 | &nbsp;&nbsp;&nbsp;&nbsp; 7449178 |
| &nbsp;&nbsp;&nbsp;iShares MSCI International Value Factor ETF | 44602 | &nbsp;&nbsp;&nbsp;&nbsp; 1469190 |
| &nbsp;&nbsp;&nbsp;iShares MSCI USA Min Vol Factor ETF | 28916 | &nbsp;&nbsp;&nbsp;&nbsp; 2677911 |
| &nbsp;&nbsp;&nbsp;iShares MSCI USA Momentum Factor ETF | 68413 | &nbsp;&nbsp;&nbsp;&nbsp; 16507373 |
| &nbsp;&nbsp;&nbsp;iShares MSCI USA Quality Factor ETF | 109486 | &nbsp;&nbsp;&nbsp;&nbsp; 20158562 |
| &nbsp;&nbsp;&nbsp;iShares MSCI USA Size Factor ETF | 67264 | &nbsp;&nbsp;&nbsp;&nbsp; 10503274 |
| &nbsp;&nbsp;&nbsp;iShares MSCI USA Value Factor ETF | 21919 | &nbsp;&nbsp;&nbsp;&nbsp; 2475751 |
| &nbsp;&nbsp;&nbsp;iShares MSCI World ETF | 35653 | &nbsp;&nbsp;&nbsp;&nbsp; 6100228 |
| **Total Unaffiliated Investment Companies<br> (cost $95,745,802)** |  | &nbsp;&nbsp;&nbsp;&nbsp;104853586 |
| **Total Long-Term Investment Securities<br> (cost $106,869,287)** |  | &nbsp;&nbsp;&nbsp;&nbsp;115133783 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **SHORT-TERM INVESTMENTS — 0.2%** | **SHORT-TERM INVESTMENTS — 0.2%** |  |
| **Unaffiliated Investment Companies — 0.2%** | **Unaffiliated Investment Companies — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional Treasury Money Market Fund, Premier Class<br> 4.22%(2)<br> (cost $227,866) | 227865 | &nbsp;&nbsp;$227865 |
| **TOTAL INVESTMENTS<br> (cost $107,097,153)(3)** | &nbsp;&nbsp;&nbsp;100.1% | &nbsp;&nbsp;&nbsp;&nbsp;115361648 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;(0.1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(104046) |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$115257602 |

---

(1) Security represents an investment in an affiliated company (see Note 3)

(2) The rate shown is the 7-day yield as of July 31, 2025.

(3) See Note 4 for cost of investments on a tax basis.

ETF—Exchange Traded Fund

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Affiliated Investment Companies | &nbsp;&nbsp;$10280197 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$10280197 |
| Unaffiliated Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;104853586 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;104853586 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227865 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227865 |
| **Total Investments at Value** | &nbsp;&nbsp;$115361648 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$115361648 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Emerging Markets Equity Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 100.4%** | **COMMON STOCKS — 100.4%** | **COMMON STOCKS — 100.4%** |
| **Bermuda — 0.4%** | **Bermuda — 0.4%** | **Bermuda — 0.4%** |
| &nbsp;&nbsp;&nbsp;Alibaba Health Information Technology, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62000 | &nbsp;&nbsp;$38543 |
| &nbsp;&nbsp;&nbsp;Beijing Enterprises Water Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp; 15763 |
| &nbsp;&nbsp;&nbsp;China Gas Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26800 | &nbsp;&nbsp;&nbsp;&nbsp; 28166 |
| &nbsp;&nbsp;&nbsp;China Resources Gas Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10100 | &nbsp;&nbsp;&nbsp;&nbsp; 25501 |
| &nbsp;&nbsp;&nbsp;China Ruyi Holdings, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;112000 | &nbsp;&nbsp;&nbsp;&nbsp; 44800 |
| &nbsp;&nbsp;&nbsp;Credicorp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820 | &nbsp;&nbsp;&nbsp;&nbsp; 194340 |
| &nbsp;&nbsp;&nbsp;Kunlun Energy Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp; 44359 |
| &nbsp;&nbsp;&nbsp;Orient Overseas International, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 27038 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418510 |
| **Brazil — 4.0%** | **Brazil — 4.0%** | **Brazil — 4.0%** |
| &nbsp;&nbsp;&nbsp;AMBEV SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52200 | &nbsp;&nbsp;&nbsp;&nbsp; 116154 |
| &nbsp;&nbsp;&nbsp;B3 SA - Brasil Bolsa Balcao | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61200 | &nbsp;&nbsp;&nbsp;&nbsp; 137492 |
| &nbsp;&nbsp;&nbsp;Banco Bradesco SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16323 | &nbsp;&nbsp;&nbsp;&nbsp; 39062 |
| &nbsp;&nbsp;&nbsp;Banco Bradesco SA (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62406 | &nbsp;&nbsp;&nbsp;&nbsp; 173079 |
| &nbsp;&nbsp;&nbsp;Banco BTG Pactual SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15272 | &nbsp;&nbsp;&nbsp;&nbsp; 106722 |
| &nbsp;&nbsp;&nbsp;Banco do Brasil SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18895 | &nbsp;&nbsp;&nbsp;&nbsp; 66475 |
| &nbsp;&nbsp;&nbsp;BB Seguridade Participacoes SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7716 | &nbsp;&nbsp;&nbsp;&nbsp; 46438 |
| &nbsp;&nbsp;&nbsp;BRF SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp; 19694 |
| &nbsp;&nbsp;&nbsp;Caixa Seguridade Participacoes S/A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp; 17226 |
| &nbsp;&nbsp;&nbsp;Centrais Eletricas Brasileiras SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14056 | &nbsp;&nbsp;&nbsp;&nbsp; 94911 |
| &nbsp;&nbsp;&nbsp;Centrais Eletricas Brasileiras SA (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp; 22643 |
| &nbsp;&nbsp;&nbsp;Cia de Saneamento Basico do Estado de Sao Paulo | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5783 | &nbsp;&nbsp;&nbsp;&nbsp; 111858 |
| &nbsp;&nbsp;&nbsp;Cia Energetica de Minas Gerais (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20131 | &nbsp;&nbsp;&nbsp;&nbsp; 37138 |
| &nbsp;&nbsp;&nbsp;Companhia Paranaense de Energia (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11700 | &nbsp;&nbsp;&nbsp;&nbsp; 24781 |
| &nbsp;&nbsp;&nbsp;CPFL Energia SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3693 | &nbsp;&nbsp;&nbsp;&nbsp; 25002 |
| &nbsp;&nbsp;&nbsp;Embraer SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8636 | &nbsp;&nbsp;&nbsp;&nbsp; 124399 |
| &nbsp;&nbsp;&nbsp;Energisa SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3966 | &nbsp;&nbsp;&nbsp;&nbsp; 32340 |
| &nbsp;&nbsp;&nbsp;Eneva SA† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13168 | &nbsp;&nbsp;&nbsp;&nbsp; 31629 |
| &nbsp;&nbsp;&nbsp;Engie Brasil Energia SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp; 20680 |
| &nbsp;&nbsp;&nbsp;Equatorial Energia SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14048 | &nbsp;&nbsp;&nbsp;&nbsp; 85474 |
| &nbsp;&nbsp;&nbsp;Gerdau SA (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15714 | &nbsp;&nbsp;&nbsp;&nbsp; 47258 |
| &nbsp;&nbsp;&nbsp;Itau Unibanco Holding SA (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59235 | &nbsp;&nbsp;&nbsp;&nbsp; 371941 |
| &nbsp;&nbsp;&nbsp;Itausa SA (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66051 | &nbsp;&nbsp;&nbsp;&nbsp; 122086 |
| &nbsp;&nbsp;&nbsp;Klabin SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9570 | &nbsp;&nbsp;&nbsp;&nbsp; 31789 |
| &nbsp;&nbsp;&nbsp;Localiza Rent a Car SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11080 | &nbsp;&nbsp;&nbsp;&nbsp; 68523 |
| &nbsp;&nbsp;&nbsp;Motiva Infraestrutura de Mobilidade SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp; 23743 |
| &nbsp;&nbsp;&nbsp;Natura Cosmeticos SA† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11900 | &nbsp;&nbsp;&nbsp;&nbsp; 19190 |
| &nbsp;&nbsp;&nbsp;NU Holdings, Ltd., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37554 | &nbsp;&nbsp;&nbsp;&nbsp; 458910 |
| &nbsp;&nbsp;&nbsp;Petroleo Brasileiro SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43838 | &nbsp;&nbsp;&nbsp;&nbsp; 280194 |
| &nbsp;&nbsp;&nbsp;Petroleo Brasileiro SA (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53338 | &nbsp;&nbsp;&nbsp;&nbsp; 310909 |
| &nbsp;&nbsp;&nbsp;PRIO SA† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9400 | &nbsp;&nbsp;&nbsp;&nbsp; 70825 |
| &nbsp;&nbsp;&nbsp;Raia Drogasil SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14428 | &nbsp;&nbsp;&nbsp;&nbsp; 34707 |
| &nbsp;&nbsp;&nbsp;Rede D'Or Sao Luiz SA\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10387 | &nbsp;&nbsp;&nbsp;&nbsp; 60287 |
| &nbsp;&nbsp;&nbsp;Rumo SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15100 | &nbsp;&nbsp;&nbsp;&nbsp; 44603 |
| &nbsp;&nbsp;&nbsp;Suzano SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7691 | &nbsp;&nbsp;&nbsp;&nbsp; 71628 |
| &nbsp;&nbsp;&nbsp;Telefonica Brasil SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp; 53970 |
| &nbsp;&nbsp;&nbsp;TIM SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10700 | &nbsp;&nbsp;&nbsp;&nbsp; 39574 |
| &nbsp;&nbsp;&nbsp;TOTVS SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;&nbsp; 56853 |
| &nbsp;&nbsp;&nbsp;Ultrapar Participacoes SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9500 | &nbsp;&nbsp;&nbsp;&nbsp; 29130 |
| &nbsp;&nbsp;&nbsp;Vale SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42083 | &nbsp;&nbsp;&nbsp;&nbsp; 401775 |
| &nbsp;&nbsp;&nbsp;Vibra Energia SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp; 40908 |
| &nbsp;&nbsp;&nbsp;WEG SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19901 | &nbsp;&nbsp;&nbsp;&nbsp; 131890 |
| &nbsp;&nbsp;&nbsp;XP, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4186 | &nbsp;&nbsp;&nbsp;&nbsp; 67562 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4171452 |
| **British Virgin Islands — 0.0%** | **British Virgin Islands — 0.0%** | **British Virgin Islands — 0.0%** |
| &nbsp;&nbsp;&nbsp;VK Co., Ltd.†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1364 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Chile — 0.4%** | **Chile — 0.4%** | **Chile — 0.4%** |
| &nbsp;&nbsp;&nbsp;Banco de Chile | &nbsp;&nbsp;&nbsp;&nbsp;582395 | &nbsp;&nbsp;&nbsp;&nbsp; 80227 |
| &nbsp;&nbsp;&nbsp;Banco de Credito e Inversiones SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;983 | &nbsp;&nbsp;&nbsp;&nbsp; 39013 |
| &nbsp;&nbsp;&nbsp;Banco Santander Chile | &nbsp;&nbsp;&nbsp;&nbsp;824433 | &nbsp;&nbsp;&nbsp;&nbsp; 47621 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Chile (continued)** | **Chile (continued)** | **Chile (continued)** |
| &nbsp;&nbsp;&nbsp;Cencosud SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11045 | &nbsp;&nbsp;$33273 |
| &nbsp;&nbsp;&nbsp;Empresas CMPC SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7833 | &nbsp;&nbsp;&nbsp;&nbsp; 11034 |
| &nbsp;&nbsp;&nbsp;Empresas COPEC SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4246 | &nbsp;&nbsp;&nbsp;&nbsp; 28110 |
| &nbsp;&nbsp;&nbsp;Enel Americas SA | &nbsp;&nbsp;&nbsp;&nbsp;275251 | &nbsp;&nbsp;&nbsp;&nbsp; 27451 |
| &nbsp;&nbsp;&nbsp;Enel Chile SA | &nbsp;&nbsp;&nbsp;&nbsp;335891 | &nbsp;&nbsp;&nbsp;&nbsp; 21515 |
| &nbsp;&nbsp;&nbsp;Falabella SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9024 | &nbsp;&nbsp;&nbsp;&nbsp; 44999 |
| &nbsp;&nbsp;&nbsp;Latam Airlines Group SA | 1817382 | &nbsp;&nbsp;&nbsp;&nbsp; 39744 |
| &nbsp;&nbsp;&nbsp;Sociedad Quimica y Minera de Chile SA, Class B (Preference Shares)† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1671 | &nbsp;&nbsp;&nbsp;&nbsp; 61455 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434442 |
| **China — 25.9%** | **China — 25.9%** | **China — 25.9%** |
| &nbsp;&nbsp;&nbsp;360 Security Technology, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7100 | &nbsp;&nbsp;&nbsp;&nbsp; 11154 |
| &nbsp;&nbsp;&nbsp;AAC Technologies Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9500 | &nbsp;&nbsp;&nbsp;&nbsp; 48347 |
| &nbsp;&nbsp;&nbsp;Advanced Micro-Fabrication Equipment, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529 | &nbsp;&nbsp;&nbsp;&nbsp; 14534 |
| &nbsp;&nbsp;&nbsp;Agricultural Bank of China, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;358000 | &nbsp;&nbsp;&nbsp;&nbsp; 234866 |
| &nbsp;&nbsp;&nbsp;Agricultural Bank of China, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42900 | &nbsp;&nbsp;&nbsp;&nbsp; 37575 |
| &nbsp;&nbsp;&nbsp;Aier Eye Hospital Group Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9900 | &nbsp;&nbsp;&nbsp;&nbsp; 17686 |
| &nbsp;&nbsp;&nbsp;Air China, Ltd., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12400 | &nbsp;&nbsp;&nbsp;&nbsp; 12533 |
| &nbsp;&nbsp;&nbsp;Akeso, Inc.\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp; 137860 |
| &nbsp;&nbsp;&nbsp;Alibaba Group Holding, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;201028 | &nbsp;&nbsp;&nbsp;&nbsp; 2962922 |
| &nbsp;&nbsp;&nbsp;Aluminum Corp of China, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14500 | &nbsp;&nbsp;&nbsp;&nbsp; 14978 |
| &nbsp;&nbsp;&nbsp;Aluminum Corp. of China, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp; 36507 |
| &nbsp;&nbsp;&nbsp;Anhui Gujing Distillery Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 5747 |
| &nbsp;&nbsp;&nbsp;Anker Innovations Technology Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 12074 |
| &nbsp;&nbsp;&nbsp;ANTA Sports Products, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14400 | &nbsp;&nbsp;&nbsp;&nbsp; 165096 |
| &nbsp;&nbsp;&nbsp;Autohome, Inc. ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972 | &nbsp;&nbsp;&nbsp;&nbsp; 26331 |
| &nbsp;&nbsp;&nbsp;Avary Holding Shenzhen Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp; 18421 |
| &nbsp;&nbsp;&nbsp;Baidu, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28478 | &nbsp;&nbsp;&nbsp;&nbsp; 306909 |
| &nbsp;&nbsp;&nbsp;Bank of Beijing Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15900 | &nbsp;&nbsp;&nbsp;&nbsp; 14258 |
| &nbsp;&nbsp;&nbsp;Bank of Chengdu Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3800 | &nbsp;&nbsp;&nbsp;&nbsp; 9758 |
| &nbsp;&nbsp;&nbsp;Bank of China, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;840000 | &nbsp;&nbsp;&nbsp;&nbsp; 485809 |
| &nbsp;&nbsp;&nbsp;Bank of China, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42700 | &nbsp;&nbsp;&nbsp;&nbsp; 32947 |
| &nbsp;&nbsp;&nbsp;Bank of Communications Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;101000 | &nbsp;&nbsp;&nbsp;&nbsp; 90964 |
| &nbsp;&nbsp;&nbsp;Bank of Communications Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp; 29354 |
| &nbsp;&nbsp;&nbsp;Bank of Hangzhou Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5300 | &nbsp;&nbsp;&nbsp;&nbsp; 11826 |
| &nbsp;&nbsp;&nbsp;Bank of Jiangsu Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13700 | &nbsp;&nbsp;&nbsp;&nbsp; 21523 |
| &nbsp;&nbsp;&nbsp;Bank of Nanjing Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp; 12768 |
| &nbsp;&nbsp;&nbsp;Bank of Ningbo Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5300 | &nbsp;&nbsp;&nbsp;&nbsp; 20536 |
| &nbsp;&nbsp;&nbsp;Bank of Shanghai Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11100 | &nbsp;&nbsp;&nbsp;&nbsp; 15787 |
| &nbsp;&nbsp;&nbsp;Baoshan Iron & Steel Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19900 | &nbsp;&nbsp;&nbsp;&nbsp; 20307 |
| &nbsp;&nbsp;&nbsp;Beijing Enlight Media Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp; 11011 |
| &nbsp;&nbsp;&nbsp;Beijing Kingsoft Office Software, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376 | &nbsp;&nbsp;&nbsp;&nbsp; 16388 |
| &nbsp;&nbsp;&nbsp;Beijing Wantai Biological Pharmacy Enterprise Co., Ltd., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp; 9766 |
| &nbsp;&nbsp;&nbsp;Beijing-Shanghai High Speed Railway Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36100 | &nbsp;&nbsp;&nbsp;&nbsp; 27102 |
| &nbsp;&nbsp;&nbsp;Bilibili, Inc., Class Z† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2595 | &nbsp;&nbsp;&nbsp;&nbsp; 59338 |
| &nbsp;&nbsp;&nbsp;BOE Technology Group Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40700 | &nbsp;&nbsp;&nbsp;&nbsp; 22860 |
| &nbsp;&nbsp;&nbsp;BYD Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43000 | &nbsp;&nbsp;&nbsp;&nbsp; 632127 |
| &nbsp;&nbsp;&nbsp;BYD Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp; 65840 |
| &nbsp;&nbsp;&nbsp;Cambricon Technologies Corp., Ltd., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp; 30578 |
| &nbsp;&nbsp;&nbsp;Chaozhou Three-Circle Group Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp; 14261 |
| &nbsp;&nbsp;&nbsp;China CITIC Bank Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp; 97777 |
| &nbsp;&nbsp;&nbsp;China Coal Energy Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp; 29534 |
| &nbsp;&nbsp;&nbsp;China Construction Bank Corp. | 1136000 | &nbsp;&nbsp;&nbsp;&nbsp; 1164943 |
| &nbsp;&nbsp;&nbsp;China Construction Bank Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp; 10466 |
| &nbsp;&nbsp;&nbsp;China Energy Engineering Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;&nbsp; 11522 |
| &nbsp;&nbsp;&nbsp;China Everbright Bank Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26700 | &nbsp;&nbsp;&nbsp;&nbsp; 15034 |
| &nbsp;&nbsp;&nbsp;China Everbright Bank Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48000 | &nbsp;&nbsp;&nbsp;&nbsp; 22563 |
| &nbsp;&nbsp;&nbsp;China Feihe, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41000 | &nbsp;&nbsp;&nbsp;&nbsp; 24391 |
| &nbsp;&nbsp;&nbsp;China Galaxy Securities Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41500 | &nbsp;&nbsp;&nbsp;&nbsp; 56144 |
| &nbsp;&nbsp;&nbsp;China Galaxy Securities Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5900 | &nbsp;&nbsp;&nbsp;&nbsp; 14108 |
| &nbsp;&nbsp;&nbsp;China Hongqiao Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32500 | &nbsp;&nbsp;&nbsp;&nbsp; 86115 |

---

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Emerging Markets Equity Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **China (continued)** | **China (continued)** | **China (continued)** |
| &nbsp;&nbsp;&nbsp;China International Capital Corp, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;$11075 |
| &nbsp;&nbsp;&nbsp;China International Capital Corp., Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp; 46785 |
| &nbsp;&nbsp;&nbsp;China Life Insurance Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89000 | &nbsp;&nbsp;&nbsp;&nbsp; 257930 |
| &nbsp;&nbsp;&nbsp;China Life Insurance Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp; 10240 |
| &nbsp;&nbsp;&nbsp;China Literature, Ltd.\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp; 16532 |
| &nbsp;&nbsp;&nbsp;China Longyuan Power Group Corp. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;&nbsp; 33418 |
| &nbsp;&nbsp;&nbsp;China Mengniu Dairy Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp; 75118 |
| &nbsp;&nbsp;&nbsp;China Merchants Bank Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46500 | &nbsp;&nbsp;&nbsp;&nbsp; 302102 |
| &nbsp;&nbsp;&nbsp;China Merchants Bank Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15200 | &nbsp;&nbsp;&nbsp;&nbsp; 93995 |
| &nbsp;&nbsp;&nbsp;China Merchants Expressway Network & Technology Holdings Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5800 | &nbsp;&nbsp;&nbsp;&nbsp; 9039 |
| &nbsp;&nbsp;&nbsp;China Merchants Securities Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8300 | &nbsp;&nbsp;&nbsp;&nbsp; 20632 |
| &nbsp;&nbsp;&nbsp;China Minsheng Banking Corp, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16200 | &nbsp;&nbsp;&nbsp;&nbsp; 11013 |
| &nbsp;&nbsp;&nbsp;China Minsheng Banking Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89500 | &nbsp;&nbsp;&nbsp;&nbsp; 53928 |
| &nbsp;&nbsp;&nbsp;China National Building Material Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54000 | &nbsp;&nbsp;&nbsp;&nbsp; 32194 |
| &nbsp;&nbsp;&nbsp;China Northern Rare Earth Group High-Tech Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp; 18768 |
| &nbsp;&nbsp;&nbsp;China Pacific Insurance Group Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29800 | &nbsp;&nbsp;&nbsp;&nbsp; 120149 |
| &nbsp;&nbsp;&nbsp;China Pacific Insurance Group Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5700 | &nbsp;&nbsp;&nbsp;&nbsp; 29685 |
| &nbsp;&nbsp;&nbsp;China Petroleum & Chemical Corp. | &nbsp;&nbsp;&nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp; 161732 |
| &nbsp;&nbsp;&nbsp;China Petroleum & Chemical Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26300 | &nbsp;&nbsp;&nbsp;&nbsp; 21975 |
| &nbsp;&nbsp;&nbsp;China Railway Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59000 | &nbsp;&nbsp;&nbsp;&nbsp; 29688 |
| &nbsp;&nbsp;&nbsp;China Railway Group, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17100 | &nbsp;&nbsp;&nbsp;&nbsp; 13527 |
| &nbsp;&nbsp;&nbsp;China Resources Microelectronics, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1604 | &nbsp;&nbsp;&nbsp;&nbsp; 10398 |
| &nbsp;&nbsp;&nbsp;China Resources Mixc Lifestyle Services, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp; 39057 |
| &nbsp;&nbsp;&nbsp;China Shenhua Energy Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp; 23343 |
| &nbsp;&nbsp;&nbsp;China Shenhua Energy Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40500 | &nbsp;&nbsp;&nbsp;&nbsp; 175672 |
| &nbsp;&nbsp;&nbsp;China Southern Airlines Co., Ltd., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12200 | &nbsp;&nbsp;&nbsp;&nbsp; 9617 |
| &nbsp;&nbsp;&nbsp;China State Construction Engineering Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32900 | &nbsp;&nbsp;&nbsp;&nbsp; 25889 |
| &nbsp;&nbsp;&nbsp;China Three Gorges Renewables Group Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28700 | &nbsp;&nbsp;&nbsp;&nbsp; 17277 |
| &nbsp;&nbsp;&nbsp;China Tourism Group Duty Free Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp; 16256 |
| &nbsp;&nbsp;&nbsp;China Tower Corp., Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50800 | &nbsp;&nbsp;&nbsp;&nbsp; 71185 |
| &nbsp;&nbsp;&nbsp;China Vanke Co., Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24300 | &nbsp;&nbsp;&nbsp;&nbsp; 15447 |
| &nbsp;&nbsp;&nbsp;China Yangtze Power Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp; 69669 |
| &nbsp;&nbsp;&nbsp;China Zheshang Bank Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21800 | &nbsp;&nbsp;&nbsp;&nbsp; 10274 |
| &nbsp;&nbsp;&nbsp;Chongqing Rural Commercial Bank Co, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;&nbsp; 25396 |
| &nbsp;&nbsp;&nbsp;Citic Pacific Special Steel Group Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9800 | &nbsp;&nbsp;&nbsp;&nbsp; 17617 |
| &nbsp;&nbsp;&nbsp;CITIC Securities Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12500 | &nbsp;&nbsp;&nbsp;&nbsp; 50432 |
| &nbsp;&nbsp;&nbsp;CITIC Securities Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17500 | &nbsp;&nbsp;&nbsp;&nbsp; 61529 |
| &nbsp;&nbsp;&nbsp;CMOC Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp; 47832 |
| &nbsp;&nbsp;&nbsp;CMOC Group, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14600 | &nbsp;&nbsp;&nbsp;&nbsp; 18146 |
| &nbsp;&nbsp;&nbsp;Contemporary Amperex Technology Co, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 56920 |
| &nbsp;&nbsp;&nbsp;Contemporary Amperex Technology Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp; 114046 |
| &nbsp;&nbsp;&nbsp;COSCO SHIPPING Holdings Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11900 | &nbsp;&nbsp;&nbsp;&nbsp; 25875 |
| &nbsp;&nbsp;&nbsp;COSCO Shipping Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32050 | &nbsp;&nbsp;&nbsp;&nbsp; 58629 |
| &nbsp;&nbsp;&nbsp;CRRC Corp, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp; 38115 |
| &nbsp;&nbsp;&nbsp;CRRC Corp, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14700 | &nbsp;&nbsp;&nbsp;&nbsp; 15103 |
| &nbsp;&nbsp;&nbsp;CSC Financial Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5900 | &nbsp;&nbsp;&nbsp;&nbsp; 20974 |
| &nbsp;&nbsp;&nbsp;CSPC Innovation Pharmaceutical Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp; 8999 |
| &nbsp;&nbsp;&nbsp;Daqin Railway Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15500 | &nbsp;&nbsp;&nbsp;&nbsp; 14093 |
| &nbsp;&nbsp;&nbsp;East Money Information Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11500 | &nbsp;&nbsp;&nbsp;&nbsp; 37140 |
| &nbsp;&nbsp;&nbsp;Eastroc Beverage Group Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 15643 |
| &nbsp;&nbsp;&nbsp;ENN Energy Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9100 | &nbsp;&nbsp;&nbsp;&nbsp; 74249 |
| &nbsp;&nbsp;&nbsp;Eoptolink Technology, Inc., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp; 21044 |
| &nbsp;&nbsp;&nbsp;Eve Energy Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp; 14159 |
| &nbsp;&nbsp;&nbsp;Everbright Securities Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5900 | &nbsp;&nbsp;&nbsp;&nbsp; 14920 |
| &nbsp;&nbsp;&nbsp;Focus Media Information Technology Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13500 | &nbsp;&nbsp;&nbsp;&nbsp; 14076 |
| &nbsp;&nbsp;&nbsp;Foshan Haitian Flavouring & Food Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4100 | &nbsp;&nbsp;&nbsp;&nbsp; 21860 |
| &nbsp;&nbsp;&nbsp;Founder Securities Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16900 | &nbsp;&nbsp;&nbsp;&nbsp; 19078 |
| &nbsp;&nbsp;&nbsp;Foxconn Industrial Internet Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10400 | &nbsp;&nbsp;&nbsp;&nbsp; 50042 |
| &nbsp;&nbsp;&nbsp;Fuyao Glass Industry Group Co., Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6800 | &nbsp;&nbsp;&nbsp;&nbsp; 49159 |
| &nbsp;&nbsp;&nbsp;Fuyao Glass Industry Group Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp; 12159 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **China (continued)** | **China (continued)** | **China (continued)** |
| &nbsp;&nbsp;&nbsp;Ganfeng Lithium Group Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;$12512 |
| &nbsp;&nbsp;&nbsp;GD Power Development Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17100 | &nbsp;&nbsp;&nbsp;&nbsp; 10888 |
| &nbsp;&nbsp;&nbsp;Genscript Biotech Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp; 30639 |
| &nbsp;&nbsp;&nbsp;GF Securities Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;&nbsp; 20810 |
| &nbsp;&nbsp;&nbsp;Giant Biogene Holding Co., Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp; 29962 |
| &nbsp;&nbsp;&nbsp;Gigadevice Semiconductor, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp; 10104 |
| &nbsp;&nbsp;&nbsp;GoerTek, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4100 | &nbsp;&nbsp;&nbsp;&nbsp; 13122 |
| &nbsp;&nbsp;&nbsp;Great Wall Motor Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26500 | &nbsp;&nbsp;&nbsp;&nbsp; 43345 |
| &nbsp;&nbsp;&nbsp;Gree Electric Appliances, Inc. of Zhuhai, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp; 15222 |
| &nbsp;&nbsp;&nbsp;Guangdong Haid Group Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp; 12550 |
| &nbsp;&nbsp;&nbsp;Guosen Securities Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp; 16591 |
| &nbsp;&nbsp;&nbsp;Guotai Haitong Securities Co., Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21576 | &nbsp;&nbsp;&nbsp;&nbsp; 46505 |
| &nbsp;&nbsp;&nbsp;Guotai Haitong Securities Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10100 | &nbsp;&nbsp;&nbsp;&nbsp; 28504 |
| &nbsp;&nbsp;&nbsp;H World Group, Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2313 | &nbsp;&nbsp;&nbsp;&nbsp; 72212 |
| &nbsp;&nbsp;&nbsp;Haidilao International Holding, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19000 | &nbsp;&nbsp;&nbsp;&nbsp; 33692 |
| &nbsp;&nbsp;&nbsp;Haier Smart Home Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27800 | &nbsp;&nbsp;&nbsp;&nbsp; 87473 |
| &nbsp;&nbsp;&nbsp;Haier Smart Home Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp; 24174 |
| &nbsp;&nbsp;&nbsp;Haitian International Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp; 24478 |
| &nbsp;&nbsp;&nbsp;Hansoh Pharmaceutical Group Co., Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp; 63045 |
| &nbsp;&nbsp;&nbsp;Henan Shuanghui Investment & Development Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp; 12009 |
| &nbsp;&nbsp;&nbsp;Hengan International Group Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp; 32930 |
| &nbsp;&nbsp;&nbsp;Hengli Petrochemical Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;&nbsp; 18258 |
| &nbsp;&nbsp;&nbsp;Hisense Home Appliances Group Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp; 11516 |
| &nbsp;&nbsp;&nbsp;Hithink RoyalFlush Information Network Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 15771 |
| &nbsp;&nbsp;&nbsp;Huadian Power International Corp, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12400 | &nbsp;&nbsp;&nbsp;&nbsp; 9137 |
| &nbsp;&nbsp;&nbsp;Huadong Medicine Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp; 11702 |
| &nbsp;&nbsp;&nbsp;Huagong Tech Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp; 11950 |
| &nbsp;&nbsp;&nbsp;Huaneng Lancang River Hydropower, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7400 | &nbsp;&nbsp;&nbsp;&nbsp; 9557 |
| &nbsp;&nbsp;&nbsp;Huaneng Power International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp; 38023 |
| &nbsp;&nbsp;&nbsp;Huaqin Technology Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 11463 |
| &nbsp;&nbsp;&nbsp;Huatai Securities Co., Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;&nbsp; 36810 |
| &nbsp;&nbsp;&nbsp;Huatai Securities Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp; 12544 |
| &nbsp;&nbsp;&nbsp;Huaxia Bank Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp; 12158 |
| &nbsp;&nbsp;&nbsp;IEIT Systems Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 11630 |
| &nbsp;&nbsp;&nbsp;Iflytek Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp; 15598 |
| &nbsp;&nbsp;&nbsp;Imeik Technology Development Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 10282 |
| &nbsp;&nbsp;&nbsp;Industrial & Commercial Bank of China, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;756000 | &nbsp;&nbsp;&nbsp;&nbsp; 579760 |
| &nbsp;&nbsp;&nbsp;Industrial & Commercial Bank of China, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55900 | &nbsp;&nbsp;&nbsp;&nbsp; 58753 |
| &nbsp;&nbsp;&nbsp;Industrial Bank Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp; 44066 |
| &nbsp;&nbsp;&nbsp;Inner Mongolia BaoTou Steel Union Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53900 | &nbsp;&nbsp;&nbsp;&nbsp; 20158 |
| &nbsp;&nbsp;&nbsp;Inner Mongolia Yili Industrial Group Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5600 | &nbsp;&nbsp;&nbsp;&nbsp; 21340 |
| &nbsp;&nbsp;&nbsp;Innovent Biologics, Inc.\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp; 174777 |
| &nbsp;&nbsp;&nbsp;J&T Global Express, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23600 | &nbsp;&nbsp;&nbsp;&nbsp; 31026 |
| &nbsp;&nbsp;&nbsp;JCET Group Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp; 11702 |
| &nbsp;&nbsp;&nbsp;JD Health International, Inc.\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12800 | &nbsp;&nbsp;&nbsp;&nbsp; 82018 |
| &nbsp;&nbsp;&nbsp;JD Logistics, Inc.\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp; 38283 |
| &nbsp;&nbsp;&nbsp;JD.com, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28977 | &nbsp;&nbsp;&nbsp;&nbsp; 453665 |
| &nbsp;&nbsp;&nbsp;Jiangsu Expressway Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp; 24535 |
| &nbsp;&nbsp;&nbsp;Jiangsu Hengli Hydraulic Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp; 12279 |
| &nbsp;&nbsp;&nbsp;Jiangsu Hengrui Pharmaceuticals Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp; 43724 |
| &nbsp;&nbsp;&nbsp;Jiangsu King's Luck Brewery JSC, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp; 9286 |
| &nbsp;&nbsp;&nbsp;Jiangsu Yanghe Distillery Co. Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp; 19695 |
| &nbsp;&nbsp;&nbsp;Jiangsu Zhongtian Technology Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5600 | &nbsp;&nbsp;&nbsp;&nbsp; 10783 |
| &nbsp;&nbsp;&nbsp;Jiangxi Copper Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;&nbsp; 34173 |
| &nbsp;&nbsp;&nbsp;Jinko Solar Co, Ltd., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15107 | &nbsp;&nbsp;&nbsp;&nbsp; 10984 |
| &nbsp;&nbsp;&nbsp;Kanzhun, Ltd. ADR† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3040 | &nbsp;&nbsp;&nbsp;&nbsp; 57638 |
| &nbsp;&nbsp;&nbsp;KE Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24719 | &nbsp;&nbsp;&nbsp;&nbsp; 150361 |
| &nbsp;&nbsp;&nbsp;Kingdee International Software Group Co., Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp; 81592 |
| &nbsp;&nbsp;&nbsp;Kingsoft Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp; 49185 |
| &nbsp;&nbsp;&nbsp;Kuaishou Technology\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31800 | &nbsp;&nbsp;&nbsp;&nbsp; 311924 |
| &nbsp;&nbsp;&nbsp;Kweichow Moutai Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp; 177884 |
| &nbsp;&nbsp;&nbsp;Lens Technology Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp; 15856 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Emerging Markets Equity Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **China (continued)** | **China (continued)** | **China (continued)** |
| &nbsp;&nbsp;&nbsp;Li Auto, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15200 | &nbsp;&nbsp;$200989 |
| &nbsp;&nbsp;&nbsp;Li Ning Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29000 | &nbsp;&nbsp;&nbsp;&nbsp; 61546 |
| &nbsp;&nbsp;&nbsp;Lingyi iTech Guangdong Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8600 | &nbsp;&nbsp;&nbsp;&nbsp; 10773 |
| &nbsp;&nbsp;&nbsp;Longfor Group Holdings, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26000 | &nbsp;&nbsp;&nbsp;&nbsp; 32425 |
| &nbsp;&nbsp;&nbsp;LONGi Green Energy Technology Co., Ltd., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8200 | &nbsp;&nbsp;&nbsp;&nbsp; 17967 |
| &nbsp;&nbsp;&nbsp;Luxshare Precision Industry Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6100 | &nbsp;&nbsp;&nbsp;&nbsp; 31064 |
| &nbsp;&nbsp;&nbsp;Luzhou Laojiao Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 25629 |
| &nbsp;&nbsp;&nbsp;Meituan, Class B\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58590 | &nbsp;&nbsp;&nbsp;&nbsp; 907585 |
| &nbsp;&nbsp;&nbsp;Midea Group Co, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp; 42683 |
| &nbsp;&nbsp;&nbsp;Midea Group Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3700 | &nbsp;&nbsp;&nbsp;&nbsp; 36105 |
| &nbsp;&nbsp;&nbsp;MINISO Group Holding, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp; 19983 |
| &nbsp;&nbsp;&nbsp;Montage Technology Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1191 | &nbsp;&nbsp;&nbsp;&nbsp; 14078 |
| &nbsp;&nbsp;&nbsp;Muyuan Foods Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp; 29004 |
| &nbsp;&nbsp;&nbsp;NARI Technology Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6400 | &nbsp;&nbsp;&nbsp;&nbsp; 19468 |
| &nbsp;&nbsp;&nbsp;NAURA Technology Group Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp; 25165 |
| &nbsp;&nbsp;&nbsp;NetEase, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20750 | &nbsp;&nbsp;&nbsp;&nbsp; 540293 |
| &nbsp;&nbsp;&nbsp;New China Life Insurance Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10200 | &nbsp;&nbsp;&nbsp;&nbsp; 65358 |
| &nbsp;&nbsp;&nbsp;New China Life Insurance Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp; 17637 |
| &nbsp;&nbsp;&nbsp;New Oriental Education & Technology Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14560 | &nbsp;&nbsp;&nbsp;&nbsp; 64917 |
| &nbsp;&nbsp;&nbsp;Ningbo Tuopu Group Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp; 10241 |
| &nbsp;&nbsp;&nbsp;Ningxia Baofeng Energy Group Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7100 | &nbsp;&nbsp;&nbsp;&nbsp; 15339 |
| &nbsp;&nbsp;&nbsp;NIO, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19010 | &nbsp;&nbsp;&nbsp;&nbsp; 84274 |
| &nbsp;&nbsp;&nbsp;Nongfu Spring Co., Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp; 133166 |
| &nbsp;&nbsp;&nbsp;OmniVision Intergrated Circuits Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 16861 |
| &nbsp;&nbsp;&nbsp;Orient Securities Co., Ltd, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13600 | &nbsp;&nbsp;&nbsp;&nbsp; 21271 |
| &nbsp;&nbsp;&nbsp;People's Insurance Co. Group of China, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;101000 | &nbsp;&nbsp;&nbsp;&nbsp; 77712 |
| &nbsp;&nbsp;&nbsp;People's Insurance Co. Group of China, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp; 12510 |
| &nbsp;&nbsp;&nbsp;PetroChina Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;238000 | &nbsp;&nbsp;&nbsp;&nbsp; 232543 |
| &nbsp;&nbsp;&nbsp;PetroChina Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15200 | &nbsp;&nbsp;&nbsp;&nbsp; 18744 |
| &nbsp;&nbsp;&nbsp;PICC Property & Casualty Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84000 | &nbsp;&nbsp;&nbsp;&nbsp; 174634 |
| &nbsp;&nbsp;&nbsp;Ping An Bank Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15400 | &nbsp;&nbsp;&nbsp;&nbsp; 26184 |
| &nbsp;&nbsp;&nbsp;Ping An Insurance Group Co. of China, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp; 515446 |
| &nbsp;&nbsp;&nbsp;Ping An Insurance Group Co. of China, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp; 97913 |
| &nbsp;&nbsp;&nbsp;Pop Mart International Group, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6200 | &nbsp;&nbsp;&nbsp;&nbsp; 194293 |
| &nbsp;&nbsp;&nbsp;Postal Savings Bank of China Co., Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;108000 | &nbsp;&nbsp;&nbsp;&nbsp; 76357 |
| &nbsp;&nbsp;&nbsp;Postal Savings Bank of China Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29200 | &nbsp;&nbsp;&nbsp;&nbsp; 23302 |
| &nbsp;&nbsp;&nbsp;Power Construction Corp. of China, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp; 18991 |
| &nbsp;&nbsp;&nbsp;Qifu Technology, Inc. ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1370 | &nbsp;&nbsp;&nbsp;&nbsp; 47032 |
| &nbsp;&nbsp;&nbsp;Qinghai Salt Lake Industry Co., Ltd., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;&nbsp; 19552 |
| &nbsp;&nbsp;&nbsp;Range Intelligent Computing Technology Group Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp; 11075 |
| &nbsp;&nbsp;&nbsp;Rockchip Electronics Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 11261 |
| &nbsp;&nbsp;&nbsp;Rongsheng Petrochemical Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14500 | &nbsp;&nbsp;&nbsp;&nbsp; 18425 |
| &nbsp;&nbsp;&nbsp;SAIC Motor Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6300 | &nbsp;&nbsp;&nbsp;&nbsp; 15047 |
| &nbsp;&nbsp;&nbsp;Sanan Optoelectronics Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp; 17378 |
| &nbsp;&nbsp;&nbsp;Sany Heavy Industry Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp; 22455 |
| &nbsp;&nbsp;&nbsp;Satellite Chemical Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4900 | &nbsp;&nbsp;&nbsp;&nbsp; 13298 |
| &nbsp;&nbsp;&nbsp;Seres Group Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp; 21173 |
| &nbsp;&nbsp;&nbsp;SF Holding Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp; 26860 |
| &nbsp;&nbsp;&nbsp;Shaanxi Coal Industry Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8300 | &nbsp;&nbsp;&nbsp;&nbsp; 23251 |
| &nbsp;&nbsp;&nbsp;Shandong Gold Mining Co., Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8750 | &nbsp;&nbsp;&nbsp;&nbsp; 27142 |
| &nbsp;&nbsp;&nbsp;Shandong Gold Mining Co., Ltd.. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp; 11433 |
| &nbsp;&nbsp;&nbsp;Shandong Himile Mechanical Science & Technology Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 8567 |
| &nbsp;&nbsp;&nbsp;Shandong Hualu Hengsheng Chemical Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;&nbsp; 14336 |
| &nbsp;&nbsp;&nbsp;Shandong Nanshan Aluminum Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19400 | &nbsp;&nbsp;&nbsp;&nbsp; 10600 |
| &nbsp;&nbsp;&nbsp;Shandong Weigao Group Medical Polymer Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp; 31689 |
| &nbsp;&nbsp;&nbsp;Shanghai Baosight Software Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp; 11694 |
| &nbsp;&nbsp;&nbsp;Shanghai Electric Group Co., Ltd., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10300 | &nbsp;&nbsp;&nbsp;&nbsp; 11141 |
| &nbsp;&nbsp;&nbsp;Shanghai Pharmaceuticals Holding Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3900 | &nbsp;&nbsp;&nbsp;&nbsp; 10323 |
| &nbsp;&nbsp;&nbsp;Shanghai Pudong Development Bank Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21500 | &nbsp;&nbsp;&nbsp;&nbsp; 38290 |
| &nbsp;&nbsp;&nbsp;Shanghai Rural Commercial Bank Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7600 | &nbsp;&nbsp;&nbsp;&nbsp; 9604 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **China (continued)** | **China (continued)** | **China (continued)** |
| &nbsp;&nbsp;&nbsp;Shanghai United Imaging Healthcare Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;772 | &nbsp;&nbsp;$14307 |
| &nbsp;&nbsp;&nbsp;Shanxi Xinghuacun Fen Wine Factory Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 27374 |
| &nbsp;&nbsp;&nbsp;Shengyi Technology Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp; 15514 |
| &nbsp;&nbsp;&nbsp;Shenwan Hongyuan Group Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32700 | &nbsp;&nbsp;&nbsp;&nbsp; 24095 |
| &nbsp;&nbsp;&nbsp;Shenzhen Inovance Technology Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 13219 |
| &nbsp;&nbsp;&nbsp;Shenzhen Mindray Bio-Medical Electronics Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 32143 |
| &nbsp;&nbsp;&nbsp;Shenzhen Transsion Holdings Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1077 | &nbsp;&nbsp;&nbsp;&nbsp; 11414 |
| &nbsp;&nbsp;&nbsp;Shenzhou International Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9700 | &nbsp;&nbsp;&nbsp;&nbsp; 70248 |
| &nbsp;&nbsp;&nbsp;Shinjin International Gold Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp; 8964 |
| &nbsp;&nbsp;&nbsp;Sichuan Biokin Pharmaceutical Co., Ltd., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254 | &nbsp;&nbsp;&nbsp;&nbsp; 10855 |
| &nbsp;&nbsp;&nbsp;Sichuan Kelun Pharmaceutical Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp; 10505 |
| &nbsp;&nbsp;&nbsp;Silergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp; 43555 |
| &nbsp;&nbsp;&nbsp;Sinopharm Group Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16800 | &nbsp;&nbsp;&nbsp;&nbsp; 40363 |
| &nbsp;&nbsp;&nbsp;Smoore International Holdings, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp; 64815 |
| &nbsp;&nbsp;&nbsp;Sungrow Power Supply Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp; 19019 |
| &nbsp;&nbsp;&nbsp;Sunny Optical Technology Group Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp; 75480 |
| &nbsp;&nbsp;&nbsp;Suzhou Dongshan Precision Manufacturing Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp; 18703 |
| &nbsp;&nbsp;&nbsp;Suzhou TFC Optical Communication Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 16154 |
| &nbsp;&nbsp;&nbsp;TAL Education Group ADR† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4691 | &nbsp;&nbsp;&nbsp;&nbsp; 51320 |
| &nbsp;&nbsp;&nbsp;TBEA Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6200 | &nbsp;&nbsp;&nbsp;&nbsp; 11645 |
| &nbsp;&nbsp;&nbsp;TCL Technology Group Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24600 | &nbsp;&nbsp;&nbsp;&nbsp; 15048 |
| &nbsp;&nbsp;&nbsp;Tencent Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75300 | &nbsp;&nbsp;&nbsp;&nbsp; 5275796 |
| &nbsp;&nbsp;&nbsp;Tencent Music Entertainment Group ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8441 | &nbsp;&nbsp;&nbsp;&nbsp; 177177 |
| &nbsp;&nbsp;&nbsp;Tianqi Lithium Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp; 12756 |
| &nbsp;&nbsp;&nbsp;Tingyi Cayman Islands Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp; 29503 |
| &nbsp;&nbsp;&nbsp;Tongcheng Travel Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14800 | &nbsp;&nbsp;&nbsp;&nbsp; 37141 |
| &nbsp;&nbsp;&nbsp;Tongwei Co., Ltd., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4900 | &nbsp;&nbsp;&nbsp;&nbsp; 13917 |
| &nbsp;&nbsp;&nbsp;TravelSky Technology, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp; 19200 |
| &nbsp;&nbsp;&nbsp;Tsingtao Brewery Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp; 50853 |
| &nbsp;&nbsp;&nbsp;Unigroup Guoxin Microelectronics Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 10635 |
| &nbsp;&nbsp;&nbsp;Unisplendour Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp; 12033 |
| &nbsp;&nbsp;&nbsp;Victory Giant Technology Huizhou Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 18693 |
| &nbsp;&nbsp;&nbsp;Vipshop Holdings, Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3912 | &nbsp;&nbsp;&nbsp;&nbsp; 59032 |
| &nbsp;&nbsp;&nbsp;Wanhua Chemical Group Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;&nbsp; 27721 |
| &nbsp;&nbsp;&nbsp;Weichai Power Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp; 52994 |
| &nbsp;&nbsp;&nbsp;Weichai Power Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp; 10097 |
| &nbsp;&nbsp;&nbsp;Wens Foodstuffs Group Co, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6800 | &nbsp;&nbsp;&nbsp;&nbsp; 16364 |
| &nbsp;&nbsp;&nbsp;Wuliangye Yibin Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp; 47160 |
| &nbsp;&nbsp;&nbsp;WUS Printed Circuit Kunshan Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp; 16428 |
| &nbsp;&nbsp;&nbsp;WuXi AppTec Co., Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3496 | &nbsp;&nbsp;&nbsp;&nbsp; 47074 |
| &nbsp;&nbsp;&nbsp;WuXi AppTec Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp; 30783 |
| &nbsp;&nbsp;&nbsp;Wuxi Biologics Cayman, Inc.\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39500 | &nbsp;&nbsp;&nbsp;&nbsp; 162025 |
| &nbsp;&nbsp;&nbsp;XCMG Construction Machinery Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;&nbsp; 15145 |
| &nbsp;&nbsp;&nbsp;Xiaomi Corp., Class B\*† | &nbsp;&nbsp;&nbsp;&nbsp;200400 | &nbsp;&nbsp;&nbsp;&nbsp; 1356848 |
| &nbsp;&nbsp;&nbsp;Xinyi Solar Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66000 | &nbsp;&nbsp;&nbsp;&nbsp; 25643 |
| &nbsp;&nbsp;&nbsp;XPeng, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15100 | &nbsp;&nbsp;&nbsp;&nbsp; 137727 |
| &nbsp;&nbsp;&nbsp;Yadea Group Holdings, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp; 22043 |
| &nbsp;&nbsp;&nbsp;Yankuang Energy Group Co., Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;&nbsp; 42232 |
| &nbsp;&nbsp;&nbsp;Yanzhou Coal Mining Co, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp; 14211 |
| &nbsp;&nbsp;&nbsp;Yihai Kerry Arawana Holdings Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 4621 |
| &nbsp;&nbsp;&nbsp;Yunnan Aluminium Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4900 | &nbsp;&nbsp;&nbsp;&nbsp; 10600 |
| &nbsp;&nbsp;&nbsp;Yunnan Baiyao Group Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp; 14813 |
| &nbsp;&nbsp;&nbsp;Yutong Bus Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp; 10394 |
| &nbsp;&nbsp;&nbsp;Zangge Mining Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp; 15971 |
| &nbsp;&nbsp;&nbsp;Zhangzhou Pientzehuang Pharmaceutical Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 19365 |
| &nbsp;&nbsp;&nbsp;Zhaojin Mining Industry Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19500 | &nbsp;&nbsp;&nbsp;&nbsp; 48638 |
| &nbsp;&nbsp;&nbsp;Zhejiang Dahua Technology Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7400 | &nbsp;&nbsp;&nbsp;&nbsp; 16728 |
| &nbsp;&nbsp;&nbsp;Zhejiang Expressway Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp; 20935 |
| &nbsp;&nbsp;&nbsp;Zhejiang Huayou Cobalt Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp; 15970 |
| &nbsp;&nbsp;&nbsp;Zhejiang Juhua Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp; 11165 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Emerging Markets Equity Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **China (continued)** | **China (continued)** | **China (continued)** |
| &nbsp;&nbsp;&nbsp;Zhejiang Leapmotor Technology Co., Ltd.\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;$50992 |
| &nbsp;&nbsp;&nbsp;Zhejiang NHU Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp; 10588 |
| &nbsp;&nbsp;&nbsp;Zhejiang Sanhua Intelligent Controls Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp; 10296 |
| &nbsp;&nbsp;&nbsp;Zhejiang Zheneng Electric Power Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13600 | &nbsp;&nbsp;&nbsp;&nbsp; 9813 |
| &nbsp;&nbsp;&nbsp;Zhongji Innolight Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp; 27228 |
| &nbsp;&nbsp;&nbsp;Zhongjin Gold Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5100 | &nbsp;&nbsp;&nbsp;&nbsp; 10153 |
| &nbsp;&nbsp;&nbsp;Zhongsheng Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp; 13493 |
| &nbsp;&nbsp;&nbsp;Zhuzhou CRRC Times Electric Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5300 | &nbsp;&nbsp;&nbsp;&nbsp; 21538 |
| &nbsp;&nbsp;&nbsp;Zijin Mining Group Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64000 | &nbsp;&nbsp;&nbsp;&nbsp; 170803 |
| &nbsp;&nbsp;&nbsp;Zijin Mining Group Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16200 | &nbsp;&nbsp;&nbsp;&nbsp; 43130 |
| &nbsp;&nbsp;&nbsp;ZTE Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp; 30451 |
| &nbsp;&nbsp;&nbsp;ZTE Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp; 12395 |
| &nbsp;&nbsp;&nbsp;ZTO Express Cayman, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp; 92882 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;26797711 |
| **Colombia — 0.1%** | **Colombia — 0.1%** | **Colombia — 0.1%** |
| &nbsp;&nbsp;&nbsp;Grupo Cibest SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2659 | &nbsp;&nbsp;&nbsp;&nbsp; 34621 |
| &nbsp;&nbsp;&nbsp;Grupo Cibest SA (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5647 | &nbsp;&nbsp;&nbsp;&nbsp; 61789 |
| &nbsp;&nbsp;&nbsp;Interconexion Electrica SA ESP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6010 | &nbsp;&nbsp;&nbsp;&nbsp; 30153 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126563 |
| **Cyprus — 0.0%** | **Cyprus — 0.0%** | **Cyprus — 0.0%** |
| &nbsp;&nbsp;&nbsp;Ozon Holdings PLC ADR†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;TCS Group Holding PLC GDR†(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1576 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| **Czech Republic — 0.2%** | **Czech Republic — 0.2%** | **Czech Republic — 0.2%** |
| &nbsp;&nbsp;&nbsp;CEZ AS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1823 | &nbsp;&nbsp;&nbsp;&nbsp; 105796 |
| &nbsp;&nbsp;&nbsp;Komercni Banka AS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1064 | &nbsp;&nbsp;&nbsp;&nbsp; 50831 |
| &nbsp;&nbsp;&nbsp;Moneta Money Bank AS\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2611 | &nbsp;&nbsp;&nbsp;&nbsp; 18207 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174834 |
| **Egypt — 0.1%** | **Egypt — 0.1%** | **Egypt — 0.1%** |
| &nbsp;&nbsp;&nbsp;Commercial International Bank Egypt SAE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26849 | &nbsp;&nbsp;&nbsp;&nbsp; 52017 |
| &nbsp;&nbsp;&nbsp;Eastern Co. SAE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15881 | &nbsp;&nbsp;&nbsp;&nbsp; 11101 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63118 |
| **Greece — 0.7%** | **Greece — 0.7%** | **Greece — 0.7%** |
| &nbsp;&nbsp;&nbsp;Alpha Bank SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25956 | &nbsp;&nbsp;&nbsp;&nbsp; 97749 |
| &nbsp;&nbsp;&nbsp;Eurobank Ergasias Services & Holdings SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28376 | &nbsp;&nbsp;&nbsp;&nbsp; 104855 |
| &nbsp;&nbsp;&nbsp;Hellenic Telecommunications Organization SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1887 | &nbsp;&nbsp;&nbsp;&nbsp; 34240 |
| &nbsp;&nbsp;&nbsp;JUMBO SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1364 | &nbsp;&nbsp;&nbsp;&nbsp; 46137 |
| &nbsp;&nbsp;&nbsp;Metlen Energy & Metals SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050 | &nbsp;&nbsp;&nbsp;&nbsp; 57972 |
| &nbsp;&nbsp;&nbsp;National Bank of Greece SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9891 | &nbsp;&nbsp;&nbsp;&nbsp; 138725 |
| &nbsp;&nbsp;&nbsp;OPAP SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1956 | &nbsp;&nbsp;&nbsp;&nbsp; 43885 |
| &nbsp;&nbsp;&nbsp;Piraeus Financial Holdings SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12832 | &nbsp;&nbsp;&nbsp;&nbsp; 99139 |
| &nbsp;&nbsp;&nbsp;Public Power Corp. S.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2501 | &nbsp;&nbsp;&nbsp;&nbsp; 40671 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663373 |
| **Hong Kong — 1.5%** | **Hong Kong — 1.5%** | **Hong Kong — 1.5%** |
| &nbsp;&nbsp;&nbsp;Beijing Enterprises Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp; 23016 |
| &nbsp;&nbsp;&nbsp;Bosideng International Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp; 34242 |
| &nbsp;&nbsp;&nbsp;BYD Electronic International Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp; 37720 |
| &nbsp;&nbsp;&nbsp;C&D International Investment Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp; 18138 |
| &nbsp;&nbsp;&nbsp;China Merchants Port Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17320 | &nbsp;&nbsp;&nbsp;&nbsp; 34110 |
| &nbsp;&nbsp;&nbsp;China Overseas Land & Investment, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42500 | &nbsp;&nbsp;&nbsp;&nbsp; 73631 |
| &nbsp;&nbsp;&nbsp;China Power International Development, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51000 | &nbsp;&nbsp;&nbsp;&nbsp; 20010 |
| &nbsp;&nbsp;&nbsp;China Resources Beer Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18500 | &nbsp;&nbsp;&nbsp;&nbsp; 61627 |
| &nbsp;&nbsp;&nbsp;China Resources Land, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;&nbsp; 135981 |
| &nbsp;&nbsp;&nbsp;China Resources Pharmaceutical Group, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp; 16085 |
| &nbsp;&nbsp;&nbsp;China Resources Power Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp; 54538 |
| &nbsp;&nbsp;&nbsp;China State Construction International Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp; 36810 |
| &nbsp;&nbsp;&nbsp;China Taiping Insurance Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17200 | &nbsp;&nbsp;&nbsp;&nbsp; 38344 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Hong Kong (continued)** | **Hong Kong (continued)** | **Hong Kong (continued)** |
| &nbsp;&nbsp;&nbsp;Chow Tai Fook Jewellery Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28200 | &nbsp;&nbsp;$47275 |
| &nbsp;&nbsp;&nbsp;CITIC, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49000 | &nbsp;&nbsp;&nbsp;&nbsp; 73531 |
| &nbsp;&nbsp;&nbsp;CSPC Pharmaceutical Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94320 | &nbsp;&nbsp;&nbsp;&nbsp; 119192 |
| &nbsp;&nbsp;&nbsp;Far East Horizon, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31000 | &nbsp;&nbsp;&nbsp;&nbsp; 31592 |
| &nbsp;&nbsp;&nbsp;Fosun International, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;&nbsp; 25546 |
| &nbsp;&nbsp;&nbsp;GCL Technology Holdings, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;243000 | &nbsp;&nbsp;&nbsp;&nbsp; 36218 |
| &nbsp;&nbsp;&nbsp;Geely Automobile Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72000 | &nbsp;&nbsp;&nbsp;&nbsp; 162161 |
| &nbsp;&nbsp;&nbsp;Guangdong Investment, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;&nbsp; 33837 |
| &nbsp;&nbsp;&nbsp;Hua Hong Semiconductor, Ltd.\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp; 46548 |
| &nbsp;&nbsp;&nbsp;Lenovo Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp; 118604 |
| &nbsp;&nbsp;&nbsp;MMG, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52000 | &nbsp;&nbsp;&nbsp;&nbsp; 25437 |
| &nbsp;&nbsp;&nbsp;Sino Biopharmaceutical, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;121750 | &nbsp;&nbsp;&nbsp;&nbsp; 116632 |
| &nbsp;&nbsp;&nbsp;Sinotruk Hong Kong, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp; 30510 |
| &nbsp;&nbsp;&nbsp;Want Want China Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp; 40448 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1491783 |
| **Hungary — 0.3%** | **Hungary — 0.3%** | **Hungary — 0.3%** |
| &nbsp;&nbsp;&nbsp;MOL Hungarian Oil & Gas PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4617 | &nbsp;&nbsp;&nbsp;&nbsp; 40178 |
| &nbsp;&nbsp;&nbsp;OTP Bank Nyrt | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2609 | &nbsp;&nbsp;&nbsp;&nbsp; 212152 |
| &nbsp;&nbsp;&nbsp;Richter Gedeon Nyrt | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1902 | &nbsp;&nbsp;&nbsp;&nbsp; 57090 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309420 |
| **India — 17.0%** | **India — 17.0%** | **India — 17.0%** |
| &nbsp;&nbsp;&nbsp;ABB India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;636 | &nbsp;&nbsp;&nbsp;&nbsp; 40034 |
| &nbsp;&nbsp;&nbsp;Adani Enterprises, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2101 | &nbsp;&nbsp;&nbsp;&nbsp; 58282 |
| &nbsp;&nbsp;&nbsp;Adani Ports & Special Economic Zone, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6474 | &nbsp;&nbsp;&nbsp;&nbsp; 101546 |
| &nbsp;&nbsp;&nbsp;Adani Power, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6647 | &nbsp;&nbsp;&nbsp;&nbsp; 44568 |
| &nbsp;&nbsp;&nbsp;Alkem Laboratories, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428 | &nbsp;&nbsp;&nbsp;&nbsp; 24564 |
| &nbsp;&nbsp;&nbsp;Ambuja Cements, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7361 | &nbsp;&nbsp;&nbsp;&nbsp; 49578 |
| &nbsp;&nbsp;&nbsp;APL Apollo Tubes, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2071 | &nbsp;&nbsp;&nbsp;&nbsp; 37827 |
| &nbsp;&nbsp;&nbsp;Apollo Hospitals Enterprise, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1234 | &nbsp;&nbsp;&nbsp;&nbsp; 105751 |
| &nbsp;&nbsp;&nbsp;Ashok Leyland, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36354 | &nbsp;&nbsp;&nbsp;&nbsp; 50319 |
| &nbsp;&nbsp;&nbsp;Asian Paints, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4101 | &nbsp;&nbsp;&nbsp;&nbsp; 111936 |
| &nbsp;&nbsp;&nbsp;Astral, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1671 | &nbsp;&nbsp;&nbsp;&nbsp; 26668 |
| &nbsp;&nbsp;&nbsp;AU Small Finance Bank, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4224 | &nbsp;&nbsp;&nbsp;&nbsp; 35777 |
| &nbsp;&nbsp;&nbsp;Aurobindo Pharma, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3322 | &nbsp;&nbsp;&nbsp;&nbsp; 43149 |
| &nbsp;&nbsp;&nbsp;Avenue Supermarts, Ltd.\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1977 | &nbsp;&nbsp;&nbsp;&nbsp; 95963 |
| &nbsp;&nbsp;&nbsp;Axis Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26563 | &nbsp;&nbsp;&nbsp;&nbsp; 323976 |
| &nbsp;&nbsp;&nbsp;Bajaj Auto, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;&nbsp;&nbsp; 76742 |
| &nbsp;&nbsp;&nbsp;Bajaj Finance, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32690 | &nbsp;&nbsp;&nbsp;&nbsp; 328397 |
| &nbsp;&nbsp;&nbsp;Bajaj Finserv, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4554 | &nbsp;&nbsp;&nbsp;&nbsp; 101479 |
| &nbsp;&nbsp;&nbsp;Bajaj Holdings & Investment, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357 | &nbsp;&nbsp;&nbsp;&nbsp; 57292 |
| &nbsp;&nbsp;&nbsp;Balkrishna Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1036 | &nbsp;&nbsp;&nbsp;&nbsp; 31661 |
| &nbsp;&nbsp;&nbsp;Bank of Baroda | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9898 | &nbsp;&nbsp;&nbsp;&nbsp; 26863 |
| &nbsp;&nbsp;&nbsp;Bharat Electronics, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43084 | &nbsp;&nbsp;&nbsp;&nbsp; 188372 |
| &nbsp;&nbsp;&nbsp;Bharat Forge, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3201 | &nbsp;&nbsp;&nbsp;&nbsp; 42458 |
| &nbsp;&nbsp;&nbsp;Bharat Heavy Electricals, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13270 | &nbsp;&nbsp;&nbsp;&nbsp; 36145 |
| &nbsp;&nbsp;&nbsp;Bharat Petroleum Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19420 | &nbsp;&nbsp;&nbsp;&nbsp; 72527 |
| &nbsp;&nbsp;&nbsp;Bharti Airtel, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29263 | &nbsp;&nbsp;&nbsp;&nbsp; 638717 |
| &nbsp;&nbsp;&nbsp;Bosch, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94 | &nbsp;&nbsp;&nbsp;&nbsp; 43256 |
| &nbsp;&nbsp;&nbsp;Britannia Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1339 | &nbsp;&nbsp;&nbsp;&nbsp; 88121 |
| &nbsp;&nbsp;&nbsp;Canara Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22136 | &nbsp;&nbsp;&nbsp;&nbsp; 27051 |
| &nbsp;&nbsp;&nbsp;CG Power & Industrial Solutions, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7559 | &nbsp;&nbsp;&nbsp;&nbsp; 57246 |
| &nbsp;&nbsp;&nbsp;Cholamandalam Investment & Finance Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4836 | &nbsp;&nbsp;&nbsp;&nbsp; 79254 |
| &nbsp;&nbsp;&nbsp;Cipla, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6455 | &nbsp;&nbsp;&nbsp;&nbsp; 114364 |
| &nbsp;&nbsp;&nbsp;Coal India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19791 | &nbsp;&nbsp;&nbsp;&nbsp; 84938 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1745 | &nbsp;&nbsp;&nbsp;&nbsp; 44648 |
| &nbsp;&nbsp;&nbsp;Container Corp. Of India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3452 | &nbsp;&nbsp;&nbsp;&nbsp; 22746 |
| &nbsp;&nbsp;&nbsp;Coromandel International, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1481 | &nbsp;&nbsp;&nbsp;&nbsp; 45141 |
| &nbsp;&nbsp;&nbsp;Cummins India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1610 | &nbsp;&nbsp;&nbsp;&nbsp; 65460 |
| &nbsp;&nbsp;&nbsp;Dabur India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6181 | &nbsp;&nbsp;&nbsp;&nbsp; 37341 |
| &nbsp;&nbsp;&nbsp;Divi's Laboratories, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1452 | &nbsp;&nbsp;&nbsp;&nbsp; 109283 |
| &nbsp;&nbsp;&nbsp;Dixon Technologies India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433 | &nbsp;&nbsp;&nbsp;&nbsp; 83151 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Emerging Markets Equity Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **India (continued)** | **India (continued)** | **India (continued)** |
| &nbsp;&nbsp;&nbsp;DLF, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9265 | &nbsp;&nbsp;$83016 |
| &nbsp;&nbsp;&nbsp;Dr. Reddy's Laboratories, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7100 | &nbsp;&nbsp;&nbsp;&nbsp; 102700 |
| &nbsp;&nbsp;&nbsp;Eicher Motors, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1544 | &nbsp;&nbsp;&nbsp;&nbsp; 96299 |
| &nbsp;&nbsp;&nbsp;Eternal, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56783 | &nbsp;&nbsp;&nbsp;&nbsp; 200202 |
| &nbsp;&nbsp;&nbsp;FSN E-Commerce Ventures, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15985 | &nbsp;&nbsp;&nbsp;&nbsp; 38197 |
| &nbsp;&nbsp;&nbsp;GAIL India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29109 | &nbsp;&nbsp;&nbsp;&nbsp; 59003 |
| &nbsp;&nbsp;&nbsp;GMR Airports Infrastructure, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29172 | &nbsp;&nbsp;&nbsp;&nbsp; 29972 |
| &nbsp;&nbsp;&nbsp;Godrej Consumer Products, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5234 | &nbsp;&nbsp;&nbsp;&nbsp; 75225 |
| &nbsp;&nbsp;&nbsp;Godrej Properties, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1551 | &nbsp;&nbsp;&nbsp;&nbsp; 37219 |
| &nbsp;&nbsp;&nbsp;Grasim Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3230 | &nbsp;&nbsp;&nbsp;&nbsp; 101769 |
| &nbsp;&nbsp;&nbsp;Havells India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2980 | &nbsp;&nbsp;&nbsp;&nbsp; 50991 |
| &nbsp;&nbsp;&nbsp;HCL Technologies, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11182 | &nbsp;&nbsp;&nbsp;&nbsp; 187033 |
| &nbsp;&nbsp;&nbsp;HDFC Asset Management Co., Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1218 | &nbsp;&nbsp;&nbsp;&nbsp; 78309 |
| &nbsp;&nbsp;&nbsp;HDFC Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66101 | &nbsp;&nbsp;&nbsp;&nbsp; 1522759 |
| &nbsp;&nbsp;&nbsp;HDFC Life Insurance Co., Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11037 | &nbsp;&nbsp;&nbsp;&nbsp; 95378 |
| &nbsp;&nbsp;&nbsp;Hero MotoCorp, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1489 | &nbsp;&nbsp;&nbsp;&nbsp; 72274 |
| &nbsp;&nbsp;&nbsp;Hindalco Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15252 | &nbsp;&nbsp;&nbsp;&nbsp; 119040 |
| &nbsp;&nbsp;&nbsp;Hindustan Aeronautics, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2340 | &nbsp;&nbsp;&nbsp;&nbsp; 121081 |
| &nbsp;&nbsp;&nbsp;Hindustan Petroleum Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10966 | &nbsp;&nbsp;&nbsp;&nbsp; 52239 |
| &nbsp;&nbsp;&nbsp;Hindustan Unilever, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9536 | &nbsp;&nbsp;&nbsp;&nbsp; 274763 |
| &nbsp;&nbsp;&nbsp;Hyundai Motor India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1930 | &nbsp;&nbsp;&nbsp;&nbsp; 47347 |
| &nbsp;&nbsp;&nbsp;ICICI Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61376 | &nbsp;&nbsp;&nbsp;&nbsp; 1040534 |
| &nbsp;&nbsp;&nbsp;ICICI Lombard General Insurance Co., Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2658 | &nbsp;&nbsp;&nbsp;&nbsp; 58471 |
| &nbsp;&nbsp;&nbsp;ICICI Prudential Life Insurance Co., Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4024 | &nbsp;&nbsp;&nbsp;&nbsp; 28306 |
| &nbsp;&nbsp;&nbsp;IDFC First Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42501 | &nbsp;&nbsp;&nbsp;&nbsp; 33366 |
| &nbsp;&nbsp;&nbsp;Indian Hotels Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9630 | &nbsp;&nbsp;&nbsp;&nbsp; 81499 |
| &nbsp;&nbsp;&nbsp;Indian Oil Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36076 | &nbsp;&nbsp;&nbsp;&nbsp; 59847 |
| &nbsp;&nbsp;&nbsp;Indian Railway Catering & Tourism Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3145 | &nbsp;&nbsp;&nbsp;&nbsp; 26094 |
| &nbsp;&nbsp;&nbsp;Indus Towers, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15526 | &nbsp;&nbsp;&nbsp;&nbsp; 64054 |
| &nbsp;&nbsp;&nbsp;IndusInd Bank, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6782 | &nbsp;&nbsp;&nbsp;&nbsp; 61782 |
| &nbsp;&nbsp;&nbsp;Info Edge India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4290 | &nbsp;&nbsp;&nbsp;&nbsp; 68176 |
| &nbsp;&nbsp;&nbsp;Infosys, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38479 | &nbsp;&nbsp;&nbsp;&nbsp; 662806 |
| &nbsp;&nbsp;&nbsp;InterGlobe Aviation, Ltd.\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2121 | &nbsp;&nbsp;&nbsp;&nbsp; 142746 |
| &nbsp;&nbsp;&nbsp;ITC, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35920 | &nbsp;&nbsp;&nbsp;&nbsp; 168818 |
| &nbsp;&nbsp;&nbsp;Jindal Stainless, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4102 | &nbsp;&nbsp;&nbsp;&nbsp; 32404 |
| &nbsp;&nbsp;&nbsp;Jindal Steel & Power, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4498 | &nbsp;&nbsp;&nbsp;&nbsp; 49551 |
| &nbsp;&nbsp;&nbsp;Jio Financial Services, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32298 | &nbsp;&nbsp;&nbsp;&nbsp; 121304 |
| &nbsp;&nbsp;&nbsp;JSW Energy, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4414 | &nbsp;&nbsp;&nbsp;&nbsp; 26089 |
| &nbsp;&nbsp;&nbsp;JSW Steel, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7619 | &nbsp;&nbsp;&nbsp;&nbsp; 92012 |
| &nbsp;&nbsp;&nbsp;Jubilant Foodworks, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4328 | &nbsp;&nbsp;&nbsp;&nbsp; 32139 |
| &nbsp;&nbsp;&nbsp;Kalyan Jewellers India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4526 | &nbsp;&nbsp;&nbsp;&nbsp; 30623 |
| &nbsp;&nbsp;&nbsp;Kotak Mahindra Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12795 | &nbsp;&nbsp;&nbsp;&nbsp; 289206 |
| &nbsp;&nbsp;&nbsp;Larsen & Toubro, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7845 | &nbsp;&nbsp;&nbsp;&nbsp; 324954 |
| &nbsp;&nbsp;&nbsp;Lodha Developers, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3714 | &nbsp;&nbsp;&nbsp;&nbsp; 52446 |
| &nbsp;&nbsp;&nbsp;LTIMindtree, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826 | &nbsp;&nbsp;&nbsp;&nbsp; 48146 |
| &nbsp;&nbsp;&nbsp;Lupin, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2845 | &nbsp;&nbsp;&nbsp;&nbsp; 62519 |
| &nbsp;&nbsp;&nbsp;Mahindra & Mahindra, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10887 | &nbsp;&nbsp;&nbsp;&nbsp; 397394 |
| &nbsp;&nbsp;&nbsp;Mankind Pharma, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1217 | &nbsp;&nbsp;&nbsp;&nbsp; 35562 |
| &nbsp;&nbsp;&nbsp;Marico, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6506 | &nbsp;&nbsp;&nbsp;&nbsp; 52725 |
| &nbsp;&nbsp;&nbsp;Maruti Suzuki India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1468 | &nbsp;&nbsp;&nbsp;&nbsp; 209830 |
| &nbsp;&nbsp;&nbsp;Max Healthcare Institute, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9472 | &nbsp;&nbsp;&nbsp;&nbsp; 135162 |
| &nbsp;&nbsp;&nbsp;Mphasis, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1125 | &nbsp;&nbsp;&nbsp;&nbsp; 35882 |
| &nbsp;&nbsp;&nbsp;MRF, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp;&nbsp;&nbsp; 47303 |
| &nbsp;&nbsp;&nbsp;Muthoot Finance, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1484 | &nbsp;&nbsp;&nbsp;&nbsp; 44356 |
| &nbsp;&nbsp;&nbsp;Nestle India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3878 | &nbsp;&nbsp;&nbsp;&nbsp; 99430 |
| &nbsp;&nbsp;&nbsp;NHPC, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37770 | &nbsp;&nbsp;&nbsp;&nbsp; 35839 |
| &nbsp;&nbsp;&nbsp;NMDC, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39384 | &nbsp;&nbsp;&nbsp;&nbsp; 31786 |
| &nbsp;&nbsp;&nbsp;NTPC, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51226 | &nbsp;&nbsp;&nbsp;&nbsp; 195141 |
| &nbsp;&nbsp;&nbsp;Oberoi Realty, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1480 | &nbsp;&nbsp;&nbsp;&nbsp; 27487 |
| &nbsp;&nbsp;&nbsp;Oil & Natural Gas Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38783 | &nbsp;&nbsp;&nbsp;&nbsp; 106371 |
| &nbsp;&nbsp;&nbsp;Oil India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5762 | &nbsp;&nbsp;&nbsp;&nbsp; 28824 |
| &nbsp;&nbsp;&nbsp;Oracle Financial Services Software, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp;&nbsp; 22678 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **India (continued)** | **India (continued)** | **India (continued)** |
| &nbsp;&nbsp;&nbsp;Page Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;$34539 |
| &nbsp;&nbsp;&nbsp;PB Fintech, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4203 | &nbsp;&nbsp;&nbsp;&nbsp; 86748 |
| &nbsp;&nbsp;&nbsp;Persistent Systems, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1276 | &nbsp;&nbsp;&nbsp;&nbsp; 75075 |
| &nbsp;&nbsp;&nbsp;Petronet LNG, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9779 | &nbsp;&nbsp;&nbsp;&nbsp; 32134 |
| &nbsp;&nbsp;&nbsp;Phoenix Mills, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2456 | &nbsp;&nbsp;&nbsp;&nbsp; 41635 |
| &nbsp;&nbsp;&nbsp;PI Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1010 | &nbsp;&nbsp;&nbsp;&nbsp; 48886 |
| &nbsp;&nbsp;&nbsp;Pidilite Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1771 | &nbsp;&nbsp;&nbsp;&nbsp; 57922 |
| &nbsp;&nbsp;&nbsp;Polycab India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662 | &nbsp;&nbsp;&nbsp;&nbsp; 51555 |
| &nbsp;&nbsp;&nbsp;Power Finance Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18407 | &nbsp;&nbsp;&nbsp;&nbsp; 86226 |
| &nbsp;&nbsp;&nbsp;Power Grid Corp. of India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51511 | &nbsp;&nbsp;&nbsp;&nbsp; 171265 |
| &nbsp;&nbsp;&nbsp;Prestige Estates Projects, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1954 | &nbsp;&nbsp;&nbsp;&nbsp; 36248 |
| &nbsp;&nbsp;&nbsp;Punjab National Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27406 | &nbsp;&nbsp;&nbsp;&nbsp; 32875 |
| &nbsp;&nbsp;&nbsp;Rail Vikas Nigam, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5744 | &nbsp;&nbsp;&nbsp;&nbsp; 22819 |
| &nbsp;&nbsp;&nbsp;REC, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16339 | &nbsp;&nbsp;&nbsp;&nbsp; 73694 |
| &nbsp;&nbsp;&nbsp;Reliance Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71091 | &nbsp;&nbsp;&nbsp;&nbsp; 1128058 |
| &nbsp;&nbsp;&nbsp;Samvardhana Motherson International, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50457 | &nbsp;&nbsp;&nbsp;&nbsp; 55970 |
| &nbsp;&nbsp;&nbsp;SBI Cards & Payment Services, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2884 | &nbsp;&nbsp;&nbsp;&nbsp; 26569 |
| &nbsp;&nbsp;&nbsp;SBI Life Insurance Co., Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5466 | &nbsp;&nbsp;&nbsp;&nbsp; 114813 |
| &nbsp;&nbsp;&nbsp;Shree Cement, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111 | &nbsp;&nbsp;&nbsp;&nbsp; 38851 |
| &nbsp;&nbsp;&nbsp;Shriram Finance, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15886 | &nbsp;&nbsp;&nbsp;&nbsp; 114577 |
| &nbsp;&nbsp;&nbsp;Siemens Energy India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1109 | &nbsp;&nbsp;&nbsp;&nbsp; 40778 |
| &nbsp;&nbsp;&nbsp;Siemens, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1109 | &nbsp;&nbsp;&nbsp;&nbsp; 38423 |
| &nbsp;&nbsp;&nbsp;Solar Industries India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343 | &nbsp;&nbsp;&nbsp;&nbsp; 55147 |
| &nbsp;&nbsp;&nbsp;Sona BLW Precision Forgings, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5192 | &nbsp;&nbsp;&nbsp;&nbsp; 26838 |
| &nbsp;&nbsp;&nbsp;SRF, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1429 | &nbsp;&nbsp;&nbsp;&nbsp; 49526 |
| &nbsp;&nbsp;&nbsp;State Bank of India | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20662 | &nbsp;&nbsp;&nbsp;&nbsp; 187753 |
| &nbsp;&nbsp;&nbsp;Sun Pharmaceutical Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11159 | &nbsp;&nbsp;&nbsp;&nbsp; 216559 |
| &nbsp;&nbsp;&nbsp;Sundaram Finance, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816 | &nbsp;&nbsp;&nbsp;&nbsp; 43269 |
| &nbsp;&nbsp;&nbsp;Supreme Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787 | &nbsp;&nbsp;&nbsp;&nbsp; 38732 |
| &nbsp;&nbsp;&nbsp;Suzlon Energy, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;111472 | &nbsp;&nbsp;&nbsp;&nbsp; 78222 |
| &nbsp;&nbsp;&nbsp;Tata Communications, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1382 | &nbsp;&nbsp;&nbsp;&nbsp; 27003 |
| &nbsp;&nbsp;&nbsp;Tata Consultancy Services, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10306 | &nbsp;&nbsp;&nbsp;&nbsp; 356856 |
| &nbsp;&nbsp;&nbsp;Tata Consumer Products, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7062 | &nbsp;&nbsp;&nbsp;&nbsp; 86487 |
| &nbsp;&nbsp;&nbsp;Tata Elxsi, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477 | &nbsp;&nbsp;&nbsp;&nbsp; 33129 |
| &nbsp;&nbsp;&nbsp;Tata Motors, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23611 | &nbsp;&nbsp;&nbsp;&nbsp; 179632 |
| &nbsp;&nbsp;&nbsp;Tata Power Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17809 | &nbsp;&nbsp;&nbsp;&nbsp; 80792 |
| &nbsp;&nbsp;&nbsp;Tata Steel, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86039 | &nbsp;&nbsp;&nbsp;&nbsp; 154499 |
| &nbsp;&nbsp;&nbsp;Tech Mahindra, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6096 | &nbsp;&nbsp;&nbsp;&nbsp; 101880 |
| &nbsp;&nbsp;&nbsp;Thermax, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539 | &nbsp;&nbsp;&nbsp;&nbsp; 24243 |
| &nbsp;&nbsp;&nbsp;Titan Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4278 | &nbsp;&nbsp;&nbsp;&nbsp; 163113 |
| &nbsp;&nbsp;&nbsp;Torrent Pharmaceuticals, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1271 | &nbsp;&nbsp;&nbsp;&nbsp; 54483 |
| &nbsp;&nbsp;&nbsp;Torrent Power, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2129 | &nbsp;&nbsp;&nbsp;&nbsp; 31814 |
| &nbsp;&nbsp;&nbsp;Trent, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2153 | &nbsp;&nbsp;&nbsp;&nbsp; 123480 |
| &nbsp;&nbsp;&nbsp;Tube Investments of India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1374 | &nbsp;&nbsp;&nbsp;&nbsp; 44499 |
| &nbsp;&nbsp;&nbsp;TVS Motor Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2923 | &nbsp;&nbsp;&nbsp;&nbsp; 93731 |
| &nbsp;&nbsp;&nbsp;UltraTech Cement, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1402 | &nbsp;&nbsp;&nbsp;&nbsp; 196059 |
| &nbsp;&nbsp;&nbsp;Union Bank of India, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18706 | &nbsp;&nbsp;&nbsp;&nbsp; 27995 |
| &nbsp;&nbsp;&nbsp;United Spirits, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3521 | &nbsp;&nbsp;&nbsp;&nbsp; 53740 |
| &nbsp;&nbsp;&nbsp;UPL, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5182 | &nbsp;&nbsp;&nbsp;&nbsp; 41563 |
| &nbsp;&nbsp;&nbsp;Varun Beverages, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15912 | &nbsp;&nbsp;&nbsp;&nbsp; 94638 |
| &nbsp;&nbsp;&nbsp;Vedanta, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15931 | &nbsp;&nbsp;&nbsp;&nbsp; 77228 |
| &nbsp;&nbsp;&nbsp;Vodafone Idea, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;333096 | &nbsp;&nbsp;&nbsp;&nbsp; 26275 |
| &nbsp;&nbsp;&nbsp;Voltas, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2376 | &nbsp;&nbsp;&nbsp;&nbsp; 35809 |
| &nbsp;&nbsp;&nbsp;Wipro, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29145 | &nbsp;&nbsp;&nbsp;&nbsp; 82595 |
| &nbsp;&nbsp;&nbsp;Yes Bank, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;165174 | &nbsp;&nbsp;&nbsp;&nbsp; 35656 |
| &nbsp;&nbsp;&nbsp;Zydus Lifesciences, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2835 | &nbsp;&nbsp;&nbsp;&nbsp; 31198 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;17625172 |
| **Indonesia — 1.1%** | **Indonesia — 1.1%** | **Indonesia — 1.1%** |
| &nbsp;&nbsp;&nbsp;Alamtri Resources Indonesia Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;183600 | &nbsp;&nbsp;&nbsp;&nbsp; 20642 |
| &nbsp;&nbsp;&nbsp;Amman Mineral Internasional PT† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73900 | &nbsp;&nbsp;&nbsp;&nbsp; 37725 |
| &nbsp;&nbsp;&nbsp;Astra International Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;242900 | &nbsp;&nbsp;&nbsp;&nbsp; 75283 |
| &nbsp;&nbsp;&nbsp;Bank Central Asia Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;653700 | &nbsp;&nbsp;&nbsp;&nbsp; 328737 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Emerging Markets Equity Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Indonesia (continued)** | **Indonesia (continued)** | **Indonesia (continued)** |
| &nbsp;&nbsp;&nbsp;Bank Mandiri Persero Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;424700 | &nbsp;&nbsp;$116402 |
| &nbsp;&nbsp;&nbsp;Bank Negara Indonesia Persero Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;181200 | &nbsp;&nbsp;&nbsp;&nbsp; 44158 |
| &nbsp;&nbsp;&nbsp;Bank Rakyat Indonesia Persero Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;776700 | &nbsp;&nbsp;&nbsp;&nbsp; 175117 |
| &nbsp;&nbsp;&nbsp;Barito Pacific Tbk PT† | &nbsp;&nbsp;&nbsp;&nbsp;275700 | &nbsp;&nbsp;&nbsp;&nbsp; 44065 |
| &nbsp;&nbsp;&nbsp;Chandra Asri Pacific Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88300 | &nbsp;&nbsp;&nbsp;&nbsp; 49771 |
| &nbsp;&nbsp;&nbsp;Charoen Pokphand Indonesia Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78100 | &nbsp;&nbsp;&nbsp;&nbsp; 23399 |
| &nbsp;&nbsp;&nbsp;GoTo Gojek Tokopedia Tbk PT† | 10682100 | &nbsp;&nbsp;&nbsp;&nbsp; 42196 |
| &nbsp;&nbsp;&nbsp;Indofood CBP Sukses Makmur Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29500 | &nbsp;&nbsp;&nbsp;&nbsp; 17569 |
| &nbsp;&nbsp;&nbsp;Indofood Sukses Makmur Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47000 | &nbsp;&nbsp;&nbsp;&nbsp; 24350 |
| &nbsp;&nbsp;&nbsp;Kalbe Farma Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;224100 | &nbsp;&nbsp;&nbsp;&nbsp; 19475 |
| &nbsp;&nbsp;&nbsp;Sumber Alfaria Trijaya Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;211400 | &nbsp;&nbsp;&nbsp;&nbsp; 29805 |
| &nbsp;&nbsp;&nbsp;Telkom Indonesia Persero Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;575100 | &nbsp;&nbsp;&nbsp;&nbsp; 100656 |
| &nbsp;&nbsp;&nbsp;United Tractors Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19500 | &nbsp;&nbsp;&nbsp;&nbsp; 28619 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1177969 |
| **Ireland — 0.9%** | **Ireland — 0.9%** | **Ireland — 0.9%** |
| &nbsp;&nbsp;&nbsp;PDD Holdings, Inc. ADR† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8169 | &nbsp;&nbsp;&nbsp;&nbsp; 926773 |
| **Kuwait — 0.8%** | **Kuwait — 0.8%** | **Kuwait — 0.8%** |
| &nbsp;&nbsp;&nbsp;Boubyan Bank KSCP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18161 | &nbsp;&nbsp;&nbsp;&nbsp; 41821 |
| &nbsp;&nbsp;&nbsp;Gulf Bank KSCP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25177 | &nbsp;&nbsp;&nbsp;&nbsp; 27878 |
| &nbsp;&nbsp;&nbsp;Kuwait Finance House KSCP | &nbsp;&nbsp;&nbsp;&nbsp;127551 | &nbsp;&nbsp;&nbsp;&nbsp; 336220 |
| &nbsp;&nbsp;&nbsp;Mabanee Co. KPSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9361 | &nbsp;&nbsp;&nbsp;&nbsp; 27091 |
| &nbsp;&nbsp;&nbsp;Mobile Telecommunications Co. KSCP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28744 | &nbsp;&nbsp;&nbsp;&nbsp; 49949 |
| &nbsp;&nbsp;&nbsp;National Bank of Kuwait SAKP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95681 | &nbsp;&nbsp;&nbsp;&nbsp; 327844 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810803 |
| **Luxembourg — 0.1%** | **Luxembourg — 0.1%** | **Luxembourg — 0.1%** |
| &nbsp;&nbsp;&nbsp;Allegro.eu SA\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7068 | &nbsp;&nbsp;&nbsp;&nbsp; 69811 |
| &nbsp;&nbsp;&nbsp;Reinet Investments SCA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1587 | &nbsp;&nbsp;&nbsp;&nbsp; 45869 |
| &nbsp;&nbsp;&nbsp;Zabka Group SA† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3359 | &nbsp;&nbsp;&nbsp;&nbsp; 18599 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134279 |
| **Malaysia — 1.3%** | **Malaysia — 1.3%** | **Malaysia — 1.3%** |
| &nbsp;&nbsp;&nbsp;AMMB Holdings Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30300 | &nbsp;&nbsp;&nbsp;&nbsp; 35877 |
| &nbsp;&nbsp;&nbsp;Axiata Group Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30600 | &nbsp;&nbsp;&nbsp;&nbsp; 19372 |
| &nbsp;&nbsp;&nbsp;CELCOMDIGI Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43600 | &nbsp;&nbsp;&nbsp;&nbsp; 39255 |
| &nbsp;&nbsp;&nbsp;CIMB Group Holdings Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94300 | &nbsp;&nbsp;&nbsp;&nbsp; 144822 |
| &nbsp;&nbsp;&nbsp;Gamuda Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57200 | &nbsp;&nbsp;&nbsp;&nbsp; 69471 |
| &nbsp;&nbsp;&nbsp;Genting Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28900 | &nbsp;&nbsp;&nbsp;&nbsp; 21209 |
| &nbsp;&nbsp;&nbsp;Hong Leong Bank Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6900 | &nbsp;&nbsp;&nbsp;&nbsp; 30739 |
| &nbsp;&nbsp;&nbsp;IHH Healthcare Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22700 | &nbsp;&nbsp;&nbsp;&nbsp; 35394 |
| &nbsp;&nbsp;&nbsp;IOI Corp. Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27900 | &nbsp;&nbsp;&nbsp;&nbsp; 24662 |
| &nbsp;&nbsp;&nbsp;Kuala Lumpur Kepong Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp; 22036 |
| &nbsp;&nbsp;&nbsp;Malayan Banking Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60200 | &nbsp;&nbsp;&nbsp;&nbsp; 132539 |
| &nbsp;&nbsp;&nbsp;Maxis Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24800 | &nbsp;&nbsp;&nbsp;&nbsp; 20003 |
| &nbsp;&nbsp;&nbsp;MISC Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15100 | &nbsp;&nbsp;&nbsp;&nbsp; 26412 |
| &nbsp;&nbsp;&nbsp;MR DIY Group M Bhd\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41600 | &nbsp;&nbsp;&nbsp;&nbsp; 16094 |
| &nbsp;&nbsp;&nbsp;Nestle Malaysia Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp; 16521 |
| &nbsp;&nbsp;&nbsp;Petronas Chemicals Group Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36100 | &nbsp;&nbsp;&nbsp;&nbsp; 32841 |
| &nbsp;&nbsp;&nbsp;Petronas Dagangan Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3700 | &nbsp;&nbsp;&nbsp;&nbsp; 18721 |
| &nbsp;&nbsp;&nbsp;Petronas Gas Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9500 | &nbsp;&nbsp;&nbsp;&nbsp; 40049 |
| &nbsp;&nbsp;&nbsp;PPB Group Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8200 | &nbsp;&nbsp;&nbsp;&nbsp; 18130 |
| &nbsp;&nbsp;&nbsp;Press Metal Aluminium Holdings Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42700 | &nbsp;&nbsp;&nbsp;&nbsp; 53463 |
| &nbsp;&nbsp;&nbsp;Public Bank Bhd | &nbsp;&nbsp;&nbsp;&nbsp;161400 | &nbsp;&nbsp;&nbsp;&nbsp; 159319 |
| &nbsp;&nbsp;&nbsp;QL Resources Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16800 | &nbsp;&nbsp;&nbsp;&nbsp; 16741 |
| &nbsp;&nbsp;&nbsp;RHB Bank Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp; 39669 |
| &nbsp;&nbsp;&nbsp;SD Guthrie Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp; 25723 |
| &nbsp;&nbsp;&nbsp;Sime Darby Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26300 | &nbsp;&nbsp;&nbsp;&nbsp; 10051 |
| &nbsp;&nbsp;&nbsp;Sunway Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;&nbsp; 42143 |
| &nbsp;&nbsp;&nbsp;Telekom Malaysia Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10200 | &nbsp;&nbsp;&nbsp;&nbsp; 16143 |
| &nbsp;&nbsp;&nbsp;Tenaga Nasional Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp; 102573 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Malaysia (continued)** | **Malaysia (continued)** | **Malaysia (continued)** |
| &nbsp;&nbsp;&nbsp;YTL Corp. Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49920 | &nbsp;&nbsp;$29144 |
| &nbsp;&nbsp;&nbsp;YTL Power International Bhd | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36960 | &nbsp;&nbsp;&nbsp;&nbsp; 35530 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1294646 |
| **Mexico — 1.9%** | **Mexico — 1.9%** | **Mexico — 1.9%** |
| &nbsp;&nbsp;&nbsp;Alfa SAB de CV, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46282 | &nbsp;&nbsp;&nbsp;&nbsp; 33758 |
| &nbsp;&nbsp;&nbsp;America Movil SAB de CV | &nbsp;&nbsp;&nbsp;&nbsp;215645 | &nbsp;&nbsp;&nbsp;&nbsp; 195012 |
| &nbsp;&nbsp;&nbsp;Arca Continental SAB de CV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5700 | &nbsp;&nbsp;&nbsp;&nbsp; 59426 |
| &nbsp;&nbsp;&nbsp;Cemex SAB de CV CPO | &nbsp;&nbsp;&nbsp;&nbsp;170100 | &nbsp;&nbsp;&nbsp;&nbsp; 148415 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Femsa SAB de CV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6485 | &nbsp;&nbsp;&nbsp;&nbsp; 53901 |
| &nbsp;&nbsp;&nbsp;Fibra Uno Administracion SA de CV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30134 | &nbsp;&nbsp;&nbsp;&nbsp; 42825 |
| &nbsp;&nbsp;&nbsp;Fomento Economico Mexicano SAB de CV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20496 | &nbsp;&nbsp;&nbsp;&nbsp; 185295 |
| &nbsp;&nbsp;&nbsp;Gruma SAB de CV, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1970 | &nbsp;&nbsp;&nbsp;&nbsp; 33935 |
| &nbsp;&nbsp;&nbsp;Grupo Aeroportuario del Centro Norte SAB de CV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3700 | &nbsp;&nbsp;&nbsp;&nbsp; 49229 |
| &nbsp;&nbsp;&nbsp;Grupo Aeroportuario del Pacifico SAB de CV, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;&nbsp; 98979 |
| &nbsp;&nbsp;&nbsp;Grupo Aeroportuario del Sureste SAB de CV, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp; 60643 |
| &nbsp;&nbsp;&nbsp;Grupo Bimbo SAB de CV, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15400 | &nbsp;&nbsp;&nbsp;&nbsp; 44710 |
| &nbsp;&nbsp;&nbsp;Grupo Carso SAB de CV, Class A1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6400 | &nbsp;&nbsp;&nbsp;&nbsp; 45494 |
| &nbsp;&nbsp;&nbsp;Grupo Comercial Chedraui SA de CV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp; 25084 |
| &nbsp;&nbsp;&nbsp;Grupo Financiero Banorte SAB de CV, Class O | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30025 | &nbsp;&nbsp;&nbsp;&nbsp; 267400 |
| &nbsp;&nbsp;&nbsp;Grupo Financiero Inbursa SAB de CV, Class O | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20800 | &nbsp;&nbsp;&nbsp;&nbsp; 53563 |
| &nbsp;&nbsp;&nbsp;Grupo Mexico SAB de CV, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34700 | &nbsp;&nbsp;&nbsp;&nbsp; 216477 |
| &nbsp;&nbsp;&nbsp;Industrias Penoles SAB de CV† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2430 | &nbsp;&nbsp;&nbsp;&nbsp; 63819 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark de Mexico SAB de CV, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17300 | &nbsp;&nbsp;&nbsp;&nbsp; 32390 |
| &nbsp;&nbsp;&nbsp;Prologis Property Mexico SA de CV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13379 | &nbsp;&nbsp;&nbsp;&nbsp; 50708 |
| &nbsp;&nbsp;&nbsp;Promotora y Operadora de Infraestructura SAB de CV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2130 | &nbsp;&nbsp;&nbsp;&nbsp; 25177 |
| &nbsp;&nbsp;&nbsp;Qualitas Controladora SAB de CV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp; 20842 |
| &nbsp;&nbsp;&nbsp;Wal-Mart de Mexico SAB de CV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61822 | &nbsp;&nbsp;&nbsp;&nbsp; 182205 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1989287 |
| **Netherlands — 0.1%** | **Netherlands — 0.1%** | **Netherlands — 0.1%** |
| &nbsp;&nbsp;&nbsp;JBS NV, Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;&nbsp; 59340 |
| &nbsp;&nbsp;&nbsp;NEPI Rockcastle NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6666 | &nbsp;&nbsp;&nbsp;&nbsp; 50949 |
| &nbsp;&nbsp;&nbsp;X5 Retail Group NV GDR†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1555 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110289 |
| **Peru — 0.0%** | **Peru — 0.0%** | **Peru — 0.0%** |
| &nbsp;&nbsp;&nbsp;Cia de Minas Buenaventura SAA ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1940 | &nbsp;&nbsp;&nbsp;&nbsp; 32999 |
| **Philippines — 0.4%** | **Philippines — 0.4%** | **Philippines — 0.4%** |
| &nbsp;&nbsp;&nbsp;Ayala Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2585 | &nbsp;&nbsp;&nbsp;&nbsp; 26146 |
| &nbsp;&nbsp;&nbsp;Ayala Land, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89800 | &nbsp;&nbsp;&nbsp;&nbsp; 38486 |
| &nbsp;&nbsp;&nbsp;Bank of the Philippine Islands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22575 | &nbsp;&nbsp;&nbsp;&nbsp; 45744 |
| &nbsp;&nbsp;&nbsp;BDO Unibank, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29844 | &nbsp;&nbsp;&nbsp;&nbsp; 73008 |
| &nbsp;&nbsp;&nbsp;International Container Terminal Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12540 | &nbsp;&nbsp;&nbsp;&nbsp; 96309 |
| &nbsp;&nbsp;&nbsp;Jollibee Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4780 | &nbsp;&nbsp;&nbsp;&nbsp; 17782 |
| &nbsp;&nbsp;&nbsp;Manila Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2630 | &nbsp;&nbsp;&nbsp;&nbsp; 24211 |
| &nbsp;&nbsp;&nbsp;Metropolitan Bank & Trust Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18723 | &nbsp;&nbsp;&nbsp;&nbsp; 23816 |
| &nbsp;&nbsp;&nbsp;PLDT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;&nbsp;&nbsp; 18965 |
| &nbsp;&nbsp;&nbsp;SM Investments Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2310 | &nbsp;&nbsp;&nbsp;&nbsp; 32314 |
| &nbsp;&nbsp;&nbsp;SM Prime Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;123900 | &nbsp;&nbsp;&nbsp;&nbsp; 49278 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446059 |
| **Poland — 1.0%** | **Poland — 1.0%** | **Poland — 1.0%** |
| &nbsp;&nbsp;&nbsp;Bank Millennium SA† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8061 | &nbsp;&nbsp;&nbsp;&nbsp; 31469 |
| &nbsp;&nbsp;&nbsp;Bank Polska Kasa Opieki SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2138 | &nbsp;&nbsp;&nbsp;&nbsp; 116783 |
| &nbsp;&nbsp;&nbsp;Budimex SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159 | &nbsp;&nbsp;&nbsp;&nbsp; 23870 |
| &nbsp;&nbsp;&nbsp;CCC SA† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649 | &nbsp;&nbsp;&nbsp;&nbsp; 33571 |
| &nbsp;&nbsp;&nbsp;CD Projekt SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;746 | &nbsp;&nbsp;&nbsp;&nbsp; 50005 |
| &nbsp;&nbsp;&nbsp;Dino Polska SA\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5510 | &nbsp;&nbsp;&nbsp;&nbsp; 72941 |
| &nbsp;&nbsp;&nbsp;KGHM Polska Miedz SA† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1444 | &nbsp;&nbsp;&nbsp;&nbsp; 49244 |
| &nbsp;&nbsp;&nbsp;LPP SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp;&nbsp; 62350 |
| &nbsp;&nbsp;&nbsp;mBank SA† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186 | &nbsp;&nbsp;&nbsp;&nbsp; 44103 |
| &nbsp;&nbsp;&nbsp;Orlen SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7048 | &nbsp;&nbsp;&nbsp;&nbsp; 157339 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Emerging Markets Equity Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Poland (continued)** | **Poland (continued)** | **Poland (continued)** |
| &nbsp;&nbsp;&nbsp;PGE Polska Grupa Energetyczna SA† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10661 | &nbsp;&nbsp;$34450 |
| &nbsp;&nbsp;&nbsp;Powszechna Kasa Oszczednosci Bank Polski SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10283 | &nbsp;&nbsp;&nbsp;&nbsp; 226045 |
| &nbsp;&nbsp;&nbsp;Powszechny Zaklad Ubezpieczen SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6439 | &nbsp;&nbsp;&nbsp;&nbsp; 108280 |
| &nbsp;&nbsp;&nbsp;Santander Bank Polska SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434 | &nbsp;&nbsp;&nbsp;&nbsp; 63625 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1074075 |
| **Qatar — 0.8%** | **Qatar — 0.8%** | **Qatar — 0.8%** |
| &nbsp;&nbsp;&nbsp;Al Rayan Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71297 | &nbsp;&nbsp;&nbsp;&nbsp; 46604 |
| &nbsp;&nbsp;&nbsp;Barwa Real Estate Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27661 | &nbsp;&nbsp;&nbsp;&nbsp; 21340 |
| &nbsp;&nbsp;&nbsp;Commercial Bank PSQC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38520 | &nbsp;&nbsp;&nbsp;&nbsp; 51797 |
| &nbsp;&nbsp;&nbsp;Dukhan Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22297 | &nbsp;&nbsp;&nbsp;&nbsp; 22383 |
| &nbsp;&nbsp;&nbsp;Industries Qatar QSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17920 | &nbsp;&nbsp;&nbsp;&nbsp; 65410 |
| &nbsp;&nbsp;&nbsp;Mesaieed Petrochemical Holding Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66506 | &nbsp;&nbsp;&nbsp;&nbsp; 24750 |
| &nbsp;&nbsp;&nbsp;Ooredoo Q.P.S.C. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13299 | &nbsp;&nbsp;&nbsp;&nbsp; 49164 |
| &nbsp;&nbsp;&nbsp;Qatar Electricity & Water Co. QSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5730 | &nbsp;&nbsp;&nbsp;&nbsp; 25337 |
| &nbsp;&nbsp;&nbsp;Qatar Fuel QSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7006 | &nbsp;&nbsp;&nbsp;&nbsp; 29248 |
| &nbsp;&nbsp;&nbsp;Qatar Gas Transport Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31459 | &nbsp;&nbsp;&nbsp;&nbsp; 41559 |
| &nbsp;&nbsp;&nbsp;Qatar International Islamic Bank QSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11499 | &nbsp;&nbsp;&nbsp;&nbsp; 35151 |
| &nbsp;&nbsp;&nbsp;Qatar Islamic Bank Q.P.S.C. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19782 | &nbsp;&nbsp;&nbsp;&nbsp; 133275 |
| &nbsp;&nbsp;&nbsp;Qatar National Bank Q.P.S.C. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51650 | &nbsp;&nbsp;&nbsp;&nbsp; 265981 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811999 |
| **Russia — 0.0%** | **Russia — 0.0%** | **Russia — 0.0%** |
| &nbsp;&nbsp;&nbsp;Gazprom PJSC ADR†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;158896 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;Lukoil PJSC ADR†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5515 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;MMC Norilsk Nickel PJSC ADR†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8556 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;Mobile TeleSystems PJSC ADR†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5342 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;Novatek PJSC GDR†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1235 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;Novolipetsk Steel PJSC GDR†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1814 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;Phosagro PJSC GDR†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;Phosagro PJSC GDR†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1927 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;Polyus PJSC GDR†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;Rosneft PJSC GDR†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16114 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;Severstal PAO GDR†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2862 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;Surgutneftegas PJSC ADR†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10541 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;Tatneft PJSC ADR†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2926 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| **Saudi Arabia — 3.4%** | **Saudi Arabia — 3.4%** | **Saudi Arabia — 3.4%** |
| &nbsp;&nbsp;&nbsp;ACWA Power Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1706 | &nbsp;&nbsp;&nbsp;&nbsp; 100056 |
| &nbsp;&nbsp;&nbsp;Ades Holding Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4327 | &nbsp;&nbsp;&nbsp;&nbsp; 14534 |
| &nbsp;&nbsp;&nbsp;Al Rajhi Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22317 | &nbsp;&nbsp;&nbsp;&nbsp; 563711 |
| &nbsp;&nbsp;&nbsp;Al Rajhi Co. for Co-operative Insurance† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439 | &nbsp;&nbsp;&nbsp;&nbsp; 13903 |
| &nbsp;&nbsp;&nbsp;Alinma Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13782 | &nbsp;&nbsp;&nbsp;&nbsp; 94866 |
| &nbsp;&nbsp;&nbsp;Almarai Co. JSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5948 | &nbsp;&nbsp;&nbsp;&nbsp; 75953 |
| &nbsp;&nbsp;&nbsp;Arab National Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10269 | &nbsp;&nbsp;&nbsp;&nbsp; 59515 |
| &nbsp;&nbsp;&nbsp;Arabian Internet & Communications Services Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329 | &nbsp;&nbsp;&nbsp;&nbsp; 20936 |
| &nbsp;&nbsp;&nbsp;Bank AlBilad | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8457 | &nbsp;&nbsp;&nbsp;&nbsp; 58708 |
| &nbsp;&nbsp;&nbsp;Bank Al-Jazira† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8378 | &nbsp;&nbsp;&nbsp;&nbsp; 28075 |
| &nbsp;&nbsp;&nbsp;Banque Saudi Fransi | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15049 | &nbsp;&nbsp;&nbsp;&nbsp; 68844 |
| &nbsp;&nbsp;&nbsp;Bupa Arabia for Cooperative Insurance Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;961 | &nbsp;&nbsp;&nbsp;&nbsp; 43194 |
| &nbsp;&nbsp;&nbsp;Co. for Cooperative Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;817 | &nbsp;&nbsp;&nbsp;&nbsp; 29251 |
| &nbsp;&nbsp;&nbsp;Dallah Healthcare Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428 | &nbsp;&nbsp;&nbsp;&nbsp; 15518 |
| &nbsp;&nbsp;&nbsp;Dar Al Arkan Real Estate Development Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6270 | &nbsp;&nbsp;&nbsp;&nbsp; 31926 |
| &nbsp;&nbsp;&nbsp;Dr. Sulaiman Al Habib Medical Services Group Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968 | &nbsp;&nbsp;&nbsp;&nbsp; 67663 |
| &nbsp;&nbsp;&nbsp;Elm Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267 | &nbsp;&nbsp;&nbsp;&nbsp; 64773 |
| &nbsp;&nbsp;&nbsp;Etihad Etisalat Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4183 | &nbsp;&nbsp;&nbsp;&nbsp; 68246 |
| &nbsp;&nbsp;&nbsp;Jabal Omar Development Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7368 | &nbsp;&nbsp;&nbsp;&nbsp; 39363 |
| &nbsp;&nbsp;&nbsp;Jarir Marketing Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6400 | &nbsp;&nbsp;&nbsp;&nbsp; 21924 |
| &nbsp;&nbsp;&nbsp;Makkah Construction & Development Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1378 | &nbsp;&nbsp;&nbsp;&nbsp; 30491 |
| &nbsp;&nbsp;&nbsp;Mouwasat Medical Services Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1194 | &nbsp;&nbsp;&nbsp;&nbsp; 24191 |
| &nbsp;&nbsp;&nbsp;Nahdi Medical Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp; 10891 |
| &nbsp;&nbsp;&nbsp;Riyad Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18199 | &nbsp;&nbsp;&nbsp;&nbsp; 136816 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Saudi Arabia (continued)** | **Saudi Arabia (continued)** | **Saudi Arabia (continued)** |
| &nbsp;&nbsp;&nbsp;SABIC Agri-Nutrients Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2683 | &nbsp;&nbsp;$85259 |
| &nbsp;&nbsp;&nbsp;Sahara International Petrochemical Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4799 | &nbsp;&nbsp;&nbsp;&nbsp; 22900 |
| &nbsp;&nbsp;&nbsp;SAL Saudi Logistics Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp;&nbsp; 14716 |
| &nbsp;&nbsp;&nbsp;Saudi Arabian Mining Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15782 | &nbsp;&nbsp;&nbsp;&nbsp; 218779 |
| &nbsp;&nbsp;&nbsp;Saudi Arabian Oil Co.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68293 | &nbsp;&nbsp;&nbsp;&nbsp; 442409 |
| &nbsp;&nbsp;&nbsp;Saudi Aramco Base Oil Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594 | &nbsp;&nbsp;&nbsp;&nbsp; 16532 |
| &nbsp;&nbsp;&nbsp;Saudi Awwal Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11318 | &nbsp;&nbsp;&nbsp;&nbsp; 97759 |
| &nbsp;&nbsp;&nbsp;Saudi Basic Industries Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10807 | &nbsp;&nbsp;&nbsp;&nbsp; 157448 |
| &nbsp;&nbsp;&nbsp;Saudi Electricity Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9880 | &nbsp;&nbsp;&nbsp;&nbsp; 38903 |
| &nbsp;&nbsp;&nbsp;Saudi Industrial Investment Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4454 | &nbsp;&nbsp;&nbsp;&nbsp; 21349 |
| &nbsp;&nbsp;&nbsp;Saudi Investment Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8255 | &nbsp;&nbsp;&nbsp;&nbsp; 31668 |
| &nbsp;&nbsp;&nbsp;Saudi Kayan Petrochemical Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10442 | &nbsp;&nbsp;&nbsp;&nbsp; 12722 |
| &nbsp;&nbsp;&nbsp;Saudi National Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34892 | &nbsp;&nbsp;&nbsp;&nbsp; 348818 |
| &nbsp;&nbsp;&nbsp;Saudi Research & Media Group† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398 | &nbsp;&nbsp;&nbsp;&nbsp; 19533 |
| &nbsp;&nbsp;&nbsp;Saudi Tadawul Group Holding Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp;&nbsp;&nbsp; 23348 |
| &nbsp;&nbsp;&nbsp;Saudi Telecom Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24443 | &nbsp;&nbsp;&nbsp;&nbsp; 273942 |
| &nbsp;&nbsp;&nbsp;Yanbu National Petrochemical Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3548 | &nbsp;&nbsp;&nbsp;&nbsp; 28849 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3538282 |
| **Singapore — 0.5%** | **Singapore — 0.5%** | **Singapore — 0.5%** |
| &nbsp;&nbsp;&nbsp;BOC Aviation, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp; 22787 |
| &nbsp;&nbsp;&nbsp;Trip.com Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7400 | &nbsp;&nbsp;&nbsp;&nbsp; 463796 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486583 |
| **South Africa — 2.8%** | **South Africa — 2.8%** | **South Africa — 2.8%** |
| &nbsp;&nbsp;&nbsp;Absa Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9566 | &nbsp;&nbsp;&nbsp;&nbsp; 94761 |
| &nbsp;&nbsp;&nbsp;Aspen Pharmacare Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4858 | &nbsp;&nbsp;&nbsp;&nbsp; 31282 |
| &nbsp;&nbsp;&nbsp;Bid Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3740 | &nbsp;&nbsp;&nbsp;&nbsp; 94033 |
| &nbsp;&nbsp;&nbsp;Bidvest Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3804 | &nbsp;&nbsp;&nbsp;&nbsp; 49686 |
| &nbsp;&nbsp;&nbsp;Capitec Bank Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1036 | &nbsp;&nbsp;&nbsp;&nbsp; 200877 |
| &nbsp;&nbsp;&nbsp;Clicks Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2636 | &nbsp;&nbsp;&nbsp;&nbsp; 55265 |
| &nbsp;&nbsp;&nbsp;Discovery, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6811 | &nbsp;&nbsp;&nbsp;&nbsp; 80739 |
| &nbsp;&nbsp;&nbsp;FirstRand, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59792 | &nbsp;&nbsp;&nbsp;&nbsp; 254250 |
| &nbsp;&nbsp;&nbsp;Gold Fields, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10558 | &nbsp;&nbsp;&nbsp;&nbsp; 255484 |
| &nbsp;&nbsp;&nbsp;Harmony Gold Mining Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6594 | &nbsp;&nbsp;&nbsp;&nbsp; 87528 |
| &nbsp;&nbsp;&nbsp;Impala Platinum Holdings, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10887 | &nbsp;&nbsp;&nbsp;&nbsp; 102743 |
| &nbsp;&nbsp;&nbsp;Kumba Iron Ore, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820 | &nbsp;&nbsp;&nbsp;&nbsp; 13559 |
| &nbsp;&nbsp;&nbsp;MTN Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20533 | &nbsp;&nbsp;&nbsp;&nbsp; 172853 |
| &nbsp;&nbsp;&nbsp;Naspers, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1910 | &nbsp;&nbsp;&nbsp;&nbsp; 591930 |
| &nbsp;&nbsp;&nbsp;Nedbank Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5195 | &nbsp;&nbsp;&nbsp;&nbsp; 70888 |
| &nbsp;&nbsp;&nbsp;Old Mutual, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55365 | &nbsp;&nbsp;&nbsp;&nbsp; 38812 |
| &nbsp;&nbsp;&nbsp;OUTsurance Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9393 | &nbsp;&nbsp;&nbsp;&nbsp; 39833 |
| &nbsp;&nbsp;&nbsp;Pepkor Holdings, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30298 | &nbsp;&nbsp;&nbsp;&nbsp; 45556 |
| &nbsp;&nbsp;&nbsp;Remgro, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5915 | &nbsp;&nbsp;&nbsp;&nbsp; 54032 |
| &nbsp;&nbsp;&nbsp;Sanlam, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20052 | &nbsp;&nbsp;&nbsp;&nbsp; 96472 |
| &nbsp;&nbsp;&nbsp;Sasol, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6608 | &nbsp;&nbsp;&nbsp;&nbsp; 33997 |
| &nbsp;&nbsp;&nbsp;Shoprite Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5564 | &nbsp;&nbsp;&nbsp;&nbsp; 81098 |
| &nbsp;&nbsp;&nbsp;Standard Bank Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14845 | &nbsp;&nbsp;&nbsp;&nbsp; 191028 |
| &nbsp;&nbsp;&nbsp;Valterra Platinum, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2489 | &nbsp;&nbsp;&nbsp;&nbsp; 112249 |
| &nbsp;&nbsp;&nbsp;Vodacom Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7455 | &nbsp;&nbsp;&nbsp;&nbsp; 56919 |
| &nbsp;&nbsp;&nbsp;Woolworths Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10545 | &nbsp;&nbsp;&nbsp;&nbsp; 28944 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2934818 |
| **South Korea — 11.0%** | **South Korea — 11.0%** | **South Korea — 11.0%** |
| &nbsp;&nbsp;&nbsp;Alteogen, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486 | &nbsp;&nbsp;&nbsp;&nbsp; 159103 |
| &nbsp;&nbsp;&nbsp;Amorepacific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365 | &nbsp;&nbsp;&nbsp;&nbsp; 35453 |
| &nbsp;&nbsp;&nbsp;Celltrion, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1867 | &nbsp;&nbsp;&nbsp;&nbsp; 240847 |
| &nbsp;&nbsp;&nbsp;CJ CheilJedang Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113 | &nbsp;&nbsp;&nbsp;&nbsp; 20493 |
| &nbsp;&nbsp;&nbsp;Coway Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694 | &nbsp;&nbsp;&nbsp;&nbsp; 54497 |
| &nbsp;&nbsp;&nbsp;DB Insurance Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563 | &nbsp;&nbsp;&nbsp;&nbsp; 51964 |
| &nbsp;&nbsp;&nbsp;Doosan Bobcat, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681 | &nbsp;&nbsp;&nbsp;&nbsp; 27205 |
| &nbsp;&nbsp;&nbsp;Doosan Enerbility Co., Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5313 | &nbsp;&nbsp;&nbsp;&nbsp; 251322 |
| &nbsp;&nbsp;&nbsp;Ecopro BM Co., Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551 | &nbsp;&nbsp;&nbsp;&nbsp; 44142 |
| &nbsp;&nbsp;&nbsp;Ecopro Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1143 | &nbsp;&nbsp;&nbsp;&nbsp; 40633 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Emerging Markets Equity Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **South Korea (continued)** | **South Korea (continued)** | **South Korea (continued)** |
| &nbsp;&nbsp;&nbsp;Hana Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3422 | &nbsp;&nbsp;$210729 |
| &nbsp;&nbsp;&nbsp;Hanjin Kal Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301 | &nbsp;&nbsp;&nbsp;&nbsp; 23701 |
| &nbsp;&nbsp;&nbsp;Hankook Tire & Technology Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;947 | &nbsp;&nbsp;&nbsp;&nbsp; 30353 |
| &nbsp;&nbsp;&nbsp;Hanmi Semiconductor Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561 | &nbsp;&nbsp;&nbsp;&nbsp; 37176 |
| &nbsp;&nbsp;&nbsp;Hanwha Aerospace Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403 | &nbsp;&nbsp;&nbsp;&nbsp; 289435 |
| &nbsp;&nbsp;&nbsp;Hanwha Ocean Co., Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1301 | &nbsp;&nbsp;&nbsp;&nbsp; 105352 |
| &nbsp;&nbsp;&nbsp;Hanwha Systems Co, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946 | &nbsp;&nbsp;&nbsp;&nbsp; 40519 |
| &nbsp;&nbsp;&nbsp;HD Hyundai Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510 | &nbsp;&nbsp;&nbsp;&nbsp; 52442 |
| &nbsp;&nbsp;&nbsp;HD Hyundai Electric Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269 | &nbsp;&nbsp;&nbsp;&nbsp; 97180 |
| &nbsp;&nbsp;&nbsp;HLB, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1315 | &nbsp;&nbsp;&nbsp;&nbsp; 45515 |
| &nbsp;&nbsp;&nbsp;HMM Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2789 | &nbsp;&nbsp;&nbsp;&nbsp; 47160 |
| &nbsp;&nbsp;&nbsp;HYBE Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243 | &nbsp;&nbsp;&nbsp;&nbsp; 45471 |
| &nbsp;&nbsp;&nbsp;Hyundai Glovis Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406 | &nbsp;&nbsp;&nbsp;&nbsp; 43182 |
| &nbsp;&nbsp;&nbsp;Hyundai Heavy Industries Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234 | &nbsp;&nbsp;&nbsp;&nbsp; 82764 |
| &nbsp;&nbsp;&nbsp;Hyundai Mobis Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676 | &nbsp;&nbsp;&nbsp;&nbsp; 143555 |
| &nbsp;&nbsp;&nbsp;Hyundai Motor Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1613 | &nbsp;&nbsp;&nbsp;&nbsp; 247742 |
| &nbsp;&nbsp;&nbsp;Hyundai Motor Co. (2nd Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;&nbsp;&nbsp; 49436 |
| &nbsp;&nbsp;&nbsp;Hyundai Motor Co. (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199 | &nbsp;&nbsp;&nbsp;&nbsp; 23160 |
| &nbsp;&nbsp;&nbsp;Hyundai Rotem Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;863 | &nbsp;&nbsp;&nbsp;&nbsp; 125704 |
| &nbsp;&nbsp;&nbsp;Industrial Bank of Korea | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2725 | &nbsp;&nbsp;&nbsp;&nbsp; 38159 |
| &nbsp;&nbsp;&nbsp;Kakao Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3478 | &nbsp;&nbsp;&nbsp;&nbsp; 145460 |
| &nbsp;&nbsp;&nbsp;KakaoBank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1835 | &nbsp;&nbsp;&nbsp;&nbsp; 37182 |
| &nbsp;&nbsp;&nbsp;KB Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4387 | &nbsp;&nbsp;&nbsp;&nbsp; 350821 |
| &nbsp;&nbsp;&nbsp;Kia Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2673 | &nbsp;&nbsp;&nbsp;&nbsp; 197179 |
| &nbsp;&nbsp;&nbsp;Korea Aerospace Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp; 62691 |
| &nbsp;&nbsp;&nbsp;Korea Electric Power Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2959 | &nbsp;&nbsp;&nbsp;&nbsp; 82254 |
| &nbsp;&nbsp;&nbsp;Korea Investment Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528 | &nbsp;&nbsp;&nbsp;&nbsp; 54445 |
| &nbsp;&nbsp;&nbsp;Korea Shipbuilding & Offshore Engineering Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479 | &nbsp;&nbsp;&nbsp;&nbsp; 123998 |
| &nbsp;&nbsp;&nbsp;Korea Zinc Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp; 33458 |
| &nbsp;&nbsp;&nbsp;Korean Air Lines Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2137 | &nbsp;&nbsp;&nbsp;&nbsp; 36521 |
| &nbsp;&nbsp;&nbsp;Krafton, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322 | &nbsp;&nbsp;&nbsp;&nbsp; 76274 |
| &nbsp;&nbsp;&nbsp;KT&G Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219 | &nbsp;&nbsp;&nbsp;&nbsp; 114886 |
| &nbsp;&nbsp;&nbsp;LG Chem, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576 | &nbsp;&nbsp;&nbsp;&nbsp; 125226 |
| &nbsp;&nbsp;&nbsp;LG Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1103 | &nbsp;&nbsp;&nbsp;&nbsp; 62992 |
| &nbsp;&nbsp;&nbsp;LG Display Co., Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2910 | &nbsp;&nbsp;&nbsp;&nbsp; 22746 |
| &nbsp;&nbsp;&nbsp;LG Electronics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1255 | &nbsp;&nbsp;&nbsp;&nbsp; 70044 |
| &nbsp;&nbsp;&nbsp;LG Energy Solution, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523 | &nbsp;&nbsp;&nbsp;&nbsp; 144251 |
| &nbsp;&nbsp;&nbsp;LG H&H Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114 | &nbsp;&nbsp;&nbsp;&nbsp; 25976 |
| &nbsp;&nbsp;&nbsp;LG Innotek Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178 | &nbsp;&nbsp;&nbsp;&nbsp; 20087 |
| &nbsp;&nbsp;&nbsp;LG Uplus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2703 | &nbsp;&nbsp;&nbsp;&nbsp; 28515 |
| &nbsp;&nbsp;&nbsp;LS Electric Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171 | &nbsp;&nbsp;&nbsp;&nbsp; 38286 |
| &nbsp;&nbsp;&nbsp;Meritz Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1068 | &nbsp;&nbsp;&nbsp;&nbsp; 89180 |
| &nbsp;&nbsp;&nbsp;Mirae Asset Securities Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2747 | &nbsp;&nbsp;&nbsp;&nbsp; 37814 |
| &nbsp;&nbsp;&nbsp;NAVER Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1678 | &nbsp;&nbsp;&nbsp;&nbsp; 284345 |
| &nbsp;&nbsp;&nbsp;NH Investment & Securities Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1642 | &nbsp;&nbsp;&nbsp;&nbsp; 23917 |
| &nbsp;&nbsp;&nbsp;Orion Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289 | &nbsp;&nbsp;&nbsp;&nbsp; 23194 |
| &nbsp;&nbsp;&nbsp;POSCO Future M Co., Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422 | &nbsp;&nbsp;&nbsp;&nbsp; 43362 |
| &nbsp;&nbsp;&nbsp;POSCO Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856 | &nbsp;&nbsp;&nbsp;&nbsp; 190421 |
| &nbsp;&nbsp;&nbsp;Posco International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;696 | &nbsp;&nbsp;&nbsp;&nbsp; 24492 |
| &nbsp;&nbsp;&nbsp;Samsung Biologics Co., Ltd.\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214 | &nbsp;&nbsp;&nbsp;&nbsp; 164651 |
| &nbsp;&nbsp;&nbsp;Samsung C&T Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1041 | &nbsp;&nbsp;&nbsp;&nbsp; 126484 |
| &nbsp;&nbsp;&nbsp;Samsung Electro-Mechanics Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654 | &nbsp;&nbsp;&nbsp;&nbsp; 70125 |
| &nbsp;&nbsp;&nbsp;Samsung Electronics Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55526 | &nbsp;&nbsp;&nbsp;&nbsp; 2858780 |
| &nbsp;&nbsp;&nbsp;Samsung Electronics Co., Ltd. (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9361 | &nbsp;&nbsp;&nbsp;&nbsp; 388804 |
| &nbsp;&nbsp;&nbsp;Samsung Fire & Marine Insurance Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344 | &nbsp;&nbsp;&nbsp;&nbsp; 109267 |
| &nbsp;&nbsp;&nbsp;Samsung Heavy Industries Co., Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8469 | &nbsp;&nbsp;&nbsp;&nbsp; 116275 |
| &nbsp;&nbsp;&nbsp;Samsung Life Insurance Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;901 | &nbsp;&nbsp;&nbsp;&nbsp; 81797 |
| &nbsp;&nbsp;&nbsp;Samsung SDI Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730 | &nbsp;&nbsp;&nbsp;&nbsp; 105805 |
| &nbsp;&nbsp;&nbsp;Samsung SDS Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;531 | &nbsp;&nbsp;&nbsp;&nbsp; 61149 |
| &nbsp;&nbsp;&nbsp;Samyang Foods Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp; 51990 |
| &nbsp;&nbsp;&nbsp;Shinhan Financial Group Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4874 | &nbsp;&nbsp;&nbsp;&nbsp; 238991 |
| &nbsp;&nbsp;&nbsp;SK Biopharmaceuticals Co., Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407 | &nbsp;&nbsp;&nbsp;&nbsp; 28967 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **South Korea (continued)** | **South Korea (continued)** | **South Korea (continued)** |
| &nbsp;&nbsp;&nbsp;SK Hynix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6403 | &nbsp;&nbsp;$1262778 |
| &nbsp;&nbsp;&nbsp;SK Innovation Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;709 | &nbsp;&nbsp;&nbsp;&nbsp; 55164 |
| &nbsp;&nbsp;&nbsp;SK Square Co., Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1066 | &nbsp;&nbsp;&nbsp;&nbsp; 116916 |
| &nbsp;&nbsp;&nbsp;SK Telecom Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp;&nbsp; 31351 |
| &nbsp;&nbsp;&nbsp;SK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp; 57088 |
| &nbsp;&nbsp;&nbsp;SKC Co., Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212 | &nbsp;&nbsp;&nbsp;&nbsp; 15470 |
| &nbsp;&nbsp;&nbsp;S-Oil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;447 | &nbsp;&nbsp;&nbsp;&nbsp; 20210 |
| &nbsp;&nbsp;&nbsp;Woori Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8009 | &nbsp;&nbsp;&nbsp;&nbsp; 142647 |
| &nbsp;&nbsp;&nbsp;Yuhan Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682 | &nbsp;&nbsp;&nbsp;&nbsp; 58079 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11437199 |
| **Switzerland — 0.2%** | **Switzerland — 0.2%** | **Switzerland — 0.2%** |
| &nbsp;&nbsp;&nbsp;BeOne Medicines, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp; 231083 |
| **Taiwan — 19.5%** | **Taiwan — 19.5%** | **Taiwan — 19.5%** |
| &nbsp;&nbsp;&nbsp;Accton Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp; 179312 |
| &nbsp;&nbsp;&nbsp;Acer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;&nbsp; 34469 |
| &nbsp;&nbsp;&nbsp;Advantech Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5148 | &nbsp;&nbsp;&nbsp;&nbsp; 57866 |
| &nbsp;&nbsp;&nbsp;Airtac International Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp; 57358 |
| &nbsp;&nbsp;&nbsp;Alchip Technologies, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 130162 |
| &nbsp;&nbsp;&nbsp;ASE Technology Holding Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;&nbsp; 189044 |
| &nbsp;&nbsp;&nbsp;Asia Cement Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31000 | &nbsp;&nbsp;&nbsp;&nbsp; 42064 |
| &nbsp;&nbsp;&nbsp;Asia Vital Components Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp; 123695 |
| &nbsp;&nbsp;&nbsp;Asustek Computer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp; 177435 |
| &nbsp;&nbsp;&nbsp;AUO Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp; 27017 |
| &nbsp;&nbsp;&nbsp;Catcher Technology Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp; 49719 |
| &nbsp;&nbsp;&nbsp;Cathay Financial Holding Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;113000 | &nbsp;&nbsp;&nbsp;&nbsp; 230562 |
| &nbsp;&nbsp;&nbsp;Chailease Holding Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17153 | &nbsp;&nbsp;&nbsp;&nbsp; 66664 |
| &nbsp;&nbsp;&nbsp;Chang Hwa Commercial Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96936 | &nbsp;&nbsp;&nbsp;&nbsp; 60083 |
| &nbsp;&nbsp;&nbsp;Cheng Shin Rubber Industry Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;&nbsp; 28213 |
| &nbsp;&nbsp;&nbsp;China Airlines, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp; 28987 |
| &nbsp;&nbsp;&nbsp;China Steel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;134000 | &nbsp;&nbsp;&nbsp;&nbsp; 87321 |
| &nbsp;&nbsp;&nbsp;Chunghwa Telecom Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp; 181523 |
| &nbsp;&nbsp;&nbsp;Compal Electronics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp; 45464 |
| &nbsp;&nbsp;&nbsp;CTBC Financial Holding Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;195000 | &nbsp;&nbsp;&nbsp;&nbsp; 269495 |
| &nbsp;&nbsp;&nbsp;Delta Electronics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp; 436921 |
| &nbsp;&nbsp;&nbsp;E Ink Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp; 75919 |
| &nbsp;&nbsp;&nbsp;E.Sun Financial Holding Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;173770 | &nbsp;&nbsp;&nbsp;&nbsp; 186593 |
| &nbsp;&nbsp;&nbsp;Eclat Textile Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp; 27004 |
| &nbsp;&nbsp;&nbsp;Elite Material Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp; 111065 |
| &nbsp;&nbsp;&nbsp;eMemory Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 68180 |
| &nbsp;&nbsp;&nbsp;Eva Airways Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp; 38043 |
| &nbsp;&nbsp;&nbsp;Evergreen Marine Corp. Taiwan, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;&nbsp; 86238 |
| &nbsp;&nbsp;&nbsp;Far Eastern New Century Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;&nbsp; 30770 |
| &nbsp;&nbsp;&nbsp;Far EasTone Telecommunications Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp; 54745 |
| &nbsp;&nbsp;&nbsp;Feng Tay Enterprise Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4913 | &nbsp;&nbsp;&nbsp;&nbsp; 19588 |
| &nbsp;&nbsp;&nbsp;First Financial Holding Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;134967 | &nbsp;&nbsp;&nbsp;&nbsp; 133848 |
| &nbsp;&nbsp;&nbsp;Formosa Chemicals & Fibre Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43000 | &nbsp;&nbsp;&nbsp;&nbsp; 41563 |
| &nbsp;&nbsp;&nbsp;Formosa Plastics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44000 | &nbsp;&nbsp;&nbsp;&nbsp; 62873 |
| &nbsp;&nbsp;&nbsp;Fortune Electric Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2310 | &nbsp;&nbsp;&nbsp;&nbsp; 51621 |
| &nbsp;&nbsp;&nbsp;Fubon Financial Holding Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98458 | &nbsp;&nbsp;&nbsp;&nbsp; 271813 |
| &nbsp;&nbsp;&nbsp;Gigabyte Technology Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp; 55281 |
| &nbsp;&nbsp;&nbsp;Global Unichip Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 40707 |
| &nbsp;&nbsp;&nbsp;Globalwafers Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp; 34425 |
| &nbsp;&nbsp;&nbsp;Hon Hai Precision Industry Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;145200 | &nbsp;&nbsp;&nbsp;&nbsp; 865922 |
| &nbsp;&nbsp;&nbsp;Hotai Motor Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4080 | &nbsp;&nbsp;&nbsp;&nbsp; 75456 |
| &nbsp;&nbsp;&nbsp;Hua Nan Financial Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;103861 | &nbsp;&nbsp;&nbsp;&nbsp; 99868 |
| &nbsp;&nbsp;&nbsp;Innolux Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93660 | &nbsp;&nbsp;&nbsp;&nbsp; 36243 |
| &nbsp;&nbsp;&nbsp;International Games System Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp; 79002 |
| &nbsp;&nbsp;&nbsp;Inventec Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp; 44727 |
| &nbsp;&nbsp;&nbsp;Jentech Precision Industrial Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 48245 |
| &nbsp;&nbsp;&nbsp;KGI Financial Holding Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;177451 | &nbsp;&nbsp;&nbsp;&nbsp; 90368 |
| &nbsp;&nbsp;&nbsp;Largan Precision Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 79236 |
| &nbsp;&nbsp;&nbsp;Lite-On Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp; 91700 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Emerging Markets Equity Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Taiwan (continued)** | **Taiwan (continued)** | **Taiwan (continued)** |
| &nbsp;&nbsp;&nbsp;Lotes Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;$47575 |
| &nbsp;&nbsp;&nbsp;MediaTek, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp; 826200 |
| &nbsp;&nbsp;&nbsp;Mega Financial Holding Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;139730 | &nbsp;&nbsp;&nbsp;&nbsp; 199430 |
| &nbsp;&nbsp;&nbsp;Micro-Star International Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp; 38596 |
| &nbsp;&nbsp;&nbsp;Nan Ya Plastics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54000 | &nbsp;&nbsp;&nbsp;&nbsp; 74087 |
| &nbsp;&nbsp;&nbsp;Nien Made Enterprise Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp; 28780 |
| &nbsp;&nbsp;&nbsp;Novatek Microelectronics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp; 111400 |
| &nbsp;&nbsp;&nbsp;Pegatron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp; 58966 |
| &nbsp;&nbsp;&nbsp;PharmaEssentia Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp; 49853 |
| &nbsp;&nbsp;&nbsp;Pou Chen Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31000 | &nbsp;&nbsp;&nbsp;&nbsp; 29393 |
| &nbsp;&nbsp;&nbsp;President Chain Store Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp; 51462 |
| &nbsp;&nbsp;&nbsp;Quanta Computer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32000 | &nbsp;&nbsp;&nbsp;&nbsp; 301801 |
| &nbsp;&nbsp;&nbsp;Realtek Semiconductor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp; 115588 |
| &nbsp;&nbsp;&nbsp;Ruentex Development Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17955 | &nbsp;&nbsp;&nbsp;&nbsp; 18017 |
| &nbsp;&nbsp;&nbsp;Shanghai Commercial & Savings Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp; 66270 |
| &nbsp;&nbsp;&nbsp;SinoPac Financial Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;120987 | &nbsp;&nbsp;&nbsp;&nbsp; 100324 |
| &nbsp;&nbsp;&nbsp;Synnex Technology International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp; 33370 |
| &nbsp;&nbsp;&nbsp;Taishin Financial Holding Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;258653 | &nbsp;&nbsp;&nbsp;&nbsp; 141686 |
| &nbsp;&nbsp;&nbsp;Taishin Financial Holding Co., Ltd. (Preference Shares)† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33179 | &nbsp;&nbsp;&nbsp;&nbsp; 9927 |
| &nbsp;&nbsp;&nbsp;Taiwan Business Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80206 | &nbsp;&nbsp;&nbsp;&nbsp; 43264 |
| &nbsp;&nbsp;&nbsp;Taiwan Cooperative Financial Holding Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;118158 | &nbsp;&nbsp;&nbsp;&nbsp; 100552 |
| &nbsp;&nbsp;&nbsp;Taiwan High Speed Rail Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33000 | &nbsp;&nbsp;&nbsp;&nbsp; 30128 |
| &nbsp;&nbsp;&nbsp;Taiwan Mobile Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21000 | &nbsp;&nbsp;&nbsp;&nbsp; 74227 |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;288000 | &nbsp;&nbsp;&nbsp;&nbsp; 11192897 |
| &nbsp;&nbsp;&nbsp;TCC Group Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75512 | &nbsp;&nbsp;&nbsp;&nbsp; 61477 |
| &nbsp;&nbsp;&nbsp;Unimicron Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp; 69101 |
| &nbsp;&nbsp;&nbsp;Uni-President Enterprises Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57000 | &nbsp;&nbsp;&nbsp;&nbsp; 151249 |
| &nbsp;&nbsp;&nbsp;United Microelectronics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;133000 | &nbsp;&nbsp;&nbsp;&nbsp; 185146 |
| &nbsp;&nbsp;&nbsp;Vanguard International Semiconductor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp; 34422 |
| &nbsp;&nbsp;&nbsp;Voltronic Power Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 39534 |
| &nbsp;&nbsp;&nbsp;Wan Hai Lines, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp; 23774 |
| &nbsp;&nbsp;&nbsp;Wistron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33000 | &nbsp;&nbsp;&nbsp;&nbsp; 135991 |
| &nbsp;&nbsp;&nbsp;Wiwynn Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 92638 |
| &nbsp;&nbsp;&nbsp;WPG Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp; 40104 |
| &nbsp;&nbsp;&nbsp;Yageo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4705 | &nbsp;&nbsp;&nbsp;&nbsp; 83546 |
| &nbsp;&nbsp;&nbsp;Yang Ming Marine Transport Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp; 40740 |
| &nbsp;&nbsp;&nbsp;Yuanta Financial Holding Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;115247 | &nbsp;&nbsp;&nbsp;&nbsp; 120469 |
| &nbsp;&nbsp;&nbsp;Zhen Ding Technology Holding, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp; 29433 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;20255834 |
| **Thailand — 1.1%** | **Thailand — 1.1%** | **Thailand — 1.1%** |
| &nbsp;&nbsp;&nbsp;Advanced Info Service PCL NVDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12200 | &nbsp;&nbsp;&nbsp;&nbsp; 108635 |
| &nbsp;&nbsp;&nbsp;Airports of Thailand PCL NVDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52200 | &nbsp;&nbsp;&nbsp;&nbsp; 65490 |
| &nbsp;&nbsp;&nbsp;Bangkok Dusit Medical Services PCL NVDR | &nbsp;&nbsp;&nbsp;&nbsp;126400 | &nbsp;&nbsp;&nbsp;&nbsp; 83158 |
| &nbsp;&nbsp;&nbsp;Bumrungrad Hospital PCL NVDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp;&nbsp;&nbsp; 24449 |
| &nbsp;&nbsp;&nbsp;Central Pattana PCL NVDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25100 | &nbsp;&nbsp;&nbsp;&nbsp; 40131 |
| &nbsp;&nbsp;&nbsp;Charoen Pokphand Foods PCL NVDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51700 | &nbsp;&nbsp;&nbsp;&nbsp; 36070 |
| &nbsp;&nbsp;&nbsp;CP ALL PCL NVDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68900 | &nbsp;&nbsp;&nbsp;&nbsp; 99618 |
| &nbsp;&nbsp;&nbsp;CP AXTRA PCL NVDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16600 | &nbsp;&nbsp;&nbsp;&nbsp; 10464 |
| &nbsp;&nbsp;&nbsp;Delta Electronics Thailand PCL NVDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37200 | &nbsp;&nbsp;&nbsp;&nbsp; 166193 |
| &nbsp;&nbsp;&nbsp;Gulf Development PCL NVDR† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59216 | &nbsp;&nbsp;&nbsp;&nbsp; 85617 |
| &nbsp;&nbsp;&nbsp;Kasikornbank PCL NVDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6200 | &nbsp;&nbsp;&nbsp;&nbsp; 30734 |
| &nbsp;&nbsp;&nbsp;Krung Thai Bank PCL NVDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46300 | &nbsp;&nbsp;&nbsp;&nbsp; 31169 |
| &nbsp;&nbsp;&nbsp;Minor International PCL NVDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35300 | &nbsp;&nbsp;&nbsp;&nbsp; 27004 |
| &nbsp;&nbsp;&nbsp;PTT Exploration & Production PCL NVDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18100 | &nbsp;&nbsp;&nbsp;&nbsp; 69786 |
| &nbsp;&nbsp;&nbsp;PTT Oil & Retail Business PCL NVDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26100 | &nbsp;&nbsp;&nbsp;&nbsp; 11101 |
| &nbsp;&nbsp;&nbsp;PTT PCL NVDR | &nbsp;&nbsp;&nbsp;&nbsp;122700 | &nbsp;&nbsp;&nbsp;&nbsp; 124840 |
| &nbsp;&nbsp;&nbsp;SCB X PCL NVDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8800 | &nbsp;&nbsp;&nbsp;&nbsp; 34064 |
| &nbsp;&nbsp;&nbsp;Siam Cement PCL NVDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10600 | &nbsp;&nbsp;&nbsp;&nbsp; 65196 |
| &nbsp;&nbsp;&nbsp;True Corp. PCL NVDR† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88527 | &nbsp;&nbsp;&nbsp;&nbsp; 28173 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1141892 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Turkey — 0.6%** | **Turkey — 0.6%** | **Turkey — 0.6%** |
| &nbsp;&nbsp;&nbsp;Akbank Turk AS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36733 | &nbsp;&nbsp;$61079 |
| &nbsp;&nbsp;&nbsp;Aselsan Elektronik Sanayi Ve Ticaret AS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16340 | &nbsp;&nbsp;&nbsp;&nbsp; 75270 |
| &nbsp;&nbsp;&nbsp;BIM Birlesik Magazalar AS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5082 | &nbsp;&nbsp;&nbsp;&nbsp; 66413 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Icecek AS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11385 | &nbsp;&nbsp;&nbsp;&nbsp; 14247 |
| &nbsp;&nbsp;&nbsp;Eregli Demir ve Celik Fabrikalari TAS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34036 | &nbsp;&nbsp;&nbsp;&nbsp; 22403 |
| &nbsp;&nbsp;&nbsp;Ford Otomotiv Sanayi AS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8870 | &nbsp;&nbsp;&nbsp;&nbsp; 20790 |
| &nbsp;&nbsp;&nbsp;Haci Omer Sabanci Holding AS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12699 | &nbsp;&nbsp;&nbsp;&nbsp; 29828 |
| &nbsp;&nbsp;&nbsp;KOC Holding AS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9241 | &nbsp;&nbsp;&nbsp;&nbsp; 40816 |
| &nbsp;&nbsp;&nbsp;Pegasus Hava Tasimaciligi AS† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2883 | &nbsp;&nbsp;&nbsp;&nbsp; 17897 |
| &nbsp;&nbsp;&nbsp;Sasa Polyester Sanayi AS† | &nbsp;&nbsp;&nbsp;&nbsp;128860 | &nbsp;&nbsp;&nbsp;&nbsp; 9904 |
| &nbsp;&nbsp;&nbsp;Tupras Turkiye Petrol Rafinerileri AS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10997 | &nbsp;&nbsp;&nbsp;&nbsp; 45754 |
| &nbsp;&nbsp;&nbsp;Turk Hava Yollari AO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6134 | &nbsp;&nbsp;&nbsp;&nbsp; 43518 |
| &nbsp;&nbsp;&nbsp;Turkcell Iletisim Hizmetleri AS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13637 | &nbsp;&nbsp;&nbsp;&nbsp; 31325 |
| &nbsp;&nbsp;&nbsp;Turkiye Is Bankasi AS | &nbsp;&nbsp;&nbsp;&nbsp;105968 | &nbsp;&nbsp;&nbsp;&nbsp; 38686 |
| &nbsp;&nbsp;&nbsp;Turkiye Sise ve Cam Fabrikalari AS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10928 | &nbsp;&nbsp;&nbsp;&nbsp; 9896 |
| &nbsp;&nbsp;&nbsp;Yapi ve Kredi Bankasi AS† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42418 | &nbsp;&nbsp;&nbsp;&nbsp; 35172 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562998 |
| **United Arab Emirates — 1.7%** | **United Arab Emirates — 1.7%** | **United Arab Emirates — 1.7%** |
| &nbsp;&nbsp;&nbsp;Abu Dhabi Commercial Bank PJSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34179 | &nbsp;&nbsp;&nbsp;&nbsp; 151491 |
| &nbsp;&nbsp;&nbsp;Abu Dhabi Islamic Bank PJSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18376 | &nbsp;&nbsp;&nbsp;&nbsp; 120871 |
| &nbsp;&nbsp;&nbsp;Abu Dhabi National Oil Co. PJSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34636 | &nbsp;&nbsp;&nbsp;&nbsp; 34984 |
| &nbsp;&nbsp;&nbsp;ADNOC Drilling Co. PJSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36883 | &nbsp;&nbsp;&nbsp;&nbsp; 58643 |
| &nbsp;&nbsp;&nbsp;Adnoc Gas PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72371 | &nbsp;&nbsp;&nbsp;&nbsp; 65612 |
| &nbsp;&nbsp;&nbsp;Aldar Properties PJSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43452 | &nbsp;&nbsp;&nbsp;&nbsp; 112621 |
| &nbsp;&nbsp;&nbsp;Americana Restaurants International PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33708 | &nbsp;&nbsp;&nbsp;&nbsp; 19731 |
| &nbsp;&nbsp;&nbsp;Dubai Electricity & Water Authority PJSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75619 | &nbsp;&nbsp;&nbsp;&nbsp; 57027 |
| &nbsp;&nbsp;&nbsp;Dubai Islamic Bank PJSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33737 | &nbsp;&nbsp;&nbsp;&nbsp; 91666 |
| &nbsp;&nbsp;&nbsp;Emaar Development PJSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11727 | &nbsp;&nbsp;&nbsp;&nbsp; 48050 |
| &nbsp;&nbsp;&nbsp;Emaar Properties PJSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78103 | &nbsp;&nbsp;&nbsp;&nbsp; 324273 |
| &nbsp;&nbsp;&nbsp;Emirates NBD Bank PJSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22843 | &nbsp;&nbsp;&nbsp;&nbsp; 166361 |
| &nbsp;&nbsp;&nbsp;Emirates Telecommunications Group Co. PJSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40946 | &nbsp;&nbsp;&nbsp;&nbsp; 207793 |
| &nbsp;&nbsp;&nbsp;First Abu Dhabi Bank PJSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52109 | &nbsp;&nbsp;&nbsp;&nbsp; 255363 |
| &nbsp;&nbsp;&nbsp;Multiply Group PJSC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33714 | &nbsp;&nbsp;&nbsp;&nbsp; 25242 |
| &nbsp;&nbsp;&nbsp;Salik Co. PJSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20731 | &nbsp;&nbsp;&nbsp;&nbsp; 36122 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1775850 |
| **United Kingdom — 0.3%** | **United Kingdom — 0.3%** | **United Kingdom — 0.3%** |
| &nbsp;&nbsp;&nbsp;Anglogold Ashanti PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5962 | &nbsp;&nbsp;&nbsp;&nbsp; 270083 |
| **United States — 0.3%** | **United States — 0.3%** | **United States — 0.3%** |
| &nbsp;&nbsp;&nbsp;Legend Biotech Corp. ADR† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp;&nbsp; 28912 |
| &nbsp;&nbsp;&nbsp;Southern Copper Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990 | &nbsp;&nbsp;&nbsp;&nbsp; 93218 |
| &nbsp;&nbsp;&nbsp;Yum China Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4270 | &nbsp;&nbsp;&nbsp;&nbsp; 199324 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321454 |
| **Total Long-Term Investment Securities<br> (cost $84,410,231)** |  | &nbsp;&nbsp;&nbsp;&nbsp;104041632 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Emerging Markets Equity Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **SHORT-TERM INVESTMENTS — 0.0%** | **SHORT-TERM INVESTMENTS — 0.0%** |  |
| **Unaffiliated Investment Companies — 0.0%** | **Unaffiliated Investment Companies — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(3)<br> (cost $20,358) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20358 | &nbsp;&nbsp;$20358 |
| **TOTAL INVESTMENTS<br> (cost $84,430,589)(4)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.4% | &nbsp;&nbsp;&nbsp;&nbsp;104061990 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(380416) |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$103681574 |

---

---

| | |
|:---|:---|
| † | &nbsp;&nbsp;Non-income producing security |
| \* | &nbsp;&nbsp;Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The SA Emerging Markets Equity Index Portfolio has no right to demand registration of these securities. At July 31, 2025, the aggregate value of these securities was $6,029,319 representing 5.8% of net assets. |
| (1) | &nbsp;&nbsp;Securities classified as Level 3 (see Note 2). |
| (2) | &nbsp;&nbsp;Denotes a restricted security that: (a) cannot be offered for public sale without first being registered, or being able to take advantage of an exemption from registration, under the Securities Act of 1933, as amended (the "1933 Act"); (b) is subject to a contractual restriction on public sales; or (c) is otherwise subject to a restriction on sales by operation of applicable law. Restricted securities are valued pursuant to Note 2. Certain restricted securities held by the Portfolio may not be sold except in exempt transactions or in a public offering registered under the 1933 Act. The Portfolio has no right to demand registration of these securities. The risk of investing in certain restricted securities is greater than the risk of investing in the securities of widely held, publicly traded companies. To the extent applicable, lack of a secondary market and resale restrictions may result in the inability of a Portfolio to sell a security at a fair price and may substantially delay the sale of the security. In addition, certain restricted securities may exhibit greater price volatility than securities for which secondary markets exist. As of July 31, 2025, the Portfolio held the following restricted securities: |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition<br> Date** | **Shares or<br> Principal<br> Amount** | **Acquisition<br> Cost** | **Value** | **Value<br> Per Share** | **% of<br> Net Assets** |
| **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** |
| Gazprom PJSC ADR |  |  |  |  |  |  |
|  | 01/28/2021 | &nbsp;&nbsp;27678 | $79635 |  |  |  |
|  | 05/04/2018 | &nbsp;&nbsp;85356 | 194454 |  |  |  |
|  | 05/30/2018 | &nbsp;&nbsp;45862 | 106108 |  |  |  |
|  |  | 158896 | 380197 | $0 | $0.00 | 0.0% |
| Lukoil PJSC ADR |  |  |  |  |  |  |
|  | 05/30/2018 | &nbsp;&nbsp;&nbsp;&nbsp;1724 | 115966 |  |  |  |
|  | 05/04/2018 | &nbsp;&nbsp;&nbsp;&nbsp;3791 | 246225 |  |  |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5515 | 362191 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00 | 0.0 |
| MMC Norilsk Nickel PJSC ADR |  |  |  |  |  |  |
|  | 05/04/2018 | &nbsp;&nbsp;&nbsp;&nbsp;5720 | &nbsp;&nbsp;98910 |  |  |  |
|  | 05/30/2018 | &nbsp;&nbsp;&nbsp;&nbsp;2836 | &nbsp;&nbsp;49974 |  |  |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;8556 | 148884 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00 | 0.0 |
| Mobile TeleSystems PJSC ADR |  |  |  |  |  |  |
|  | 05/30/2018 | &nbsp;&nbsp;&nbsp;&nbsp;1630 | &nbsp;&nbsp;16186 |  |  |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition<br> Date** | **Shares or<br> Principal<br> Amount** | **Acquisition<br> Cost** | **Value** | **Value<br> Per Share** | **% of<br> Net Assets** |
| **<u>Common Stocks (continued)</u>** | **<u>Common Stocks (continued)</u>** | **<u>Common Stocks (continued)</u>** | **<u>Common Stocks (continued)</u>** | **<u>Common Stocks (continued)</u>** | **<u>Common Stocks (continued)</u>** | **<u>Common Stocks (continued)</u>** |
|  | 05/03/2018 | &nbsp;&nbsp;&nbsp;&nbsp;2565 | $26258 |  |  |  |
|  | 01/09/2020 | &nbsp;&nbsp;&nbsp;&nbsp;1147 | &nbsp;&nbsp;12003 |  |  |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5342 | &nbsp;&nbsp;54447 | $0 | $0.00 | 0.0% |
| Novatek PJSC GDR |  |  |  |  |  |  |
|  | 05/04/2018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;924 | 115173 |  |  |  |
|  | 05/30/2018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311 | &nbsp;&nbsp;44022 |  |  |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1235 | 159195 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00 | 0.0 |
| Novolipetsk Steel PJSC GDR | 09/30/2021 | &nbsp;&nbsp;&nbsp;&nbsp;1814 | &nbsp;&nbsp;54499 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00 | 0.0 |
| Ozon Holdings PLC ADR | 09/30/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701 | &nbsp;&nbsp;34889 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00 | 0.0 |
| Phosagro PJSC GDR |  |  |  |  |  |  |
| Phosagro PJSC GDR |  |  |  |  |  |  |
| Phosagro PJSC GDR |  |  |  |  |  |  |
| Phosagro PJSC GDR |  |  |  |  |  |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1940 | &nbsp;&nbsp;26072 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00 | 0.0 |
| Polyus PJSC GDR | 09/30/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852 | &nbsp;&nbsp;68456 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00 | 0.0 |
| Rosneft PJSC GDR |  |  |  |  |  |  |
|  | 05/04/2018 | &nbsp;&nbsp;&nbsp;&nbsp;9570 | &nbsp;&nbsp;58608 |  |  |  |
|  | 05/30/2018 | &nbsp;&nbsp;&nbsp;&nbsp;6544 | &nbsp;&nbsp;39785 |  |  |  |
|  |  | &nbsp;&nbsp;16114 | &nbsp;&nbsp;98393 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00 | 0.0 |
| Severstal PAO GDR |  |  |  |  |  |  |
|  | 05/04/2018 | &nbsp;&nbsp;&nbsp;&nbsp;1809 | &nbsp;&nbsp;28141 |  |  |  |
|  | 05/30/2018 | &nbsp;&nbsp;&nbsp;&nbsp;1053 | &nbsp;&nbsp;16966 |  |  |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2862 | &nbsp;&nbsp;45107 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00 | 0.0 |
| Surgutneftegas PJSC ADR |  |  |  |  |  |  |
|  | 05/04/2018 | &nbsp;&nbsp;&nbsp;&nbsp;6836 | &nbsp;&nbsp;31487 |  |  |  |
|  | 05/30/2018 | &nbsp;&nbsp;&nbsp;&nbsp;3705 | &nbsp;&nbsp;16724 |  |  |  |
|  |  | &nbsp;&nbsp;10541 | &nbsp;&nbsp;48211 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00 | 0.0 |
| Tatneft PJSC ADR |  |  |  |  |  |  |
|  | 05/04/2018 | &nbsp;&nbsp;&nbsp;&nbsp;1874 | 116610 |  |  |  |
|  | 05/30/2018 | &nbsp;&nbsp;&nbsp;&nbsp;1052 | &nbsp;&nbsp;68590 |  |  |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2926 | 185200 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00 | 0.0 |
| VK Co., Ltd. | 09/30/2021 | &nbsp;&nbsp;&nbsp;&nbsp;1364 | &nbsp;&nbsp;28193 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00 | 0.0 |
| X5 Retail Group NV GDR | 01/28/2021 | &nbsp;&nbsp;&nbsp;&nbsp;1555 | &nbsp;&nbsp;56407 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00 | 0.0 |
|  |  |  |  | $0 |  | 0.0%\*\* |

---

\*\* Amount represents the total value of the restricted securities divided by the net assets of the Portfolio and may not equal the sum of the individual percentages shown due to rounding.

(3) The rate shown is the 7-day yield as of July 31, 2025.

(4) See Note 4 for cost of investments on a tax basis.

---

| |
|:---|
| ADR—American Depositary Receipt |
| CPO—Certification de Participations Ordinario |
| GDR—Global Depositary Receipt |
| NVDR—Non-Voting Depositary Receipt |
| QSC—Qatar Shareholding Company |

---

#### Futures Contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number<br> of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Expiration<br> Month** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Basis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Value\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
| 11 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;MSCI Emerging Markets Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$682440 | &nbsp;&nbsp;&nbsp;&nbsp;$681065 | &nbsp;&nbsp;&nbsp;&nbsp;$(1375) |

---

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

---

| | |
|:---|:---|
| **Industry Allocation\*** |  |
| Semiconductors | &nbsp;&nbsp;&nbsp;&nbsp;16.9% |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Emerging Markets Equity Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | |
|:---|:---|
| **Industry Allocation\*(continued)** |  |
| Banks | &nbsp;&nbsp;&nbsp;&nbsp;16.7% |
| Internet | &nbsp;&nbsp;&nbsp;&nbsp;13.5 |
| Diversified Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;4.6 |
| Telecommunications | &nbsp;&nbsp;&nbsp;&nbsp;4.3 |
| Oil & Gas | &nbsp;&nbsp;&nbsp;&nbsp;4.0 |
| Auto Manufacturers | &nbsp;&nbsp;&nbsp;&nbsp;3.0 |
| Insurance | &nbsp;&nbsp;&nbsp;&nbsp;2.7 |
| Computers | &nbsp;&nbsp;&nbsp;&nbsp;2.6 |
| Mining | &nbsp;&nbsp;&nbsp;&nbsp;2.2 |
| Electronics | &nbsp;&nbsp;&nbsp;&nbsp;2.2 |
| Retail | &nbsp;&nbsp;&nbsp;&nbsp;1.9 |
| Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;1.9 |
| Electric | &nbsp;&nbsp;&nbsp;&nbsp;1.7 |
| Real Estate | &nbsp;&nbsp;&nbsp;&nbsp;1.6 |
| Software | &nbsp;&nbsp;&nbsp;&nbsp;1.6 |
| Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;1.5 |
| Food | &nbsp;&nbsp;&nbsp;&nbsp;1.4 |
| Beverages | &nbsp;&nbsp;&nbsp;&nbsp;1.4 |
| Iron/Steel | &nbsp;&nbsp;&nbsp;&nbsp;1.2 |
| Engineering & Construction | &nbsp;&nbsp;&nbsp;&nbsp;0.9 |
| Auto Parts & Equipment | &nbsp;&nbsp;&nbsp;&nbsp;0.9 |
| Aerospace/Defense | &nbsp;&nbsp;&nbsp;&nbsp;0.9 |
| Healthcare-Services | &nbsp;&nbsp;&nbsp;&nbsp;0.8 |
| Electrical Components & Equipment | &nbsp;&nbsp;&nbsp;&nbsp;0.8 |
| Miscellaneous Manufacturing | &nbsp;&nbsp;&nbsp;&nbsp;0.8 |
| Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;0.7 |
| Transportation | &nbsp;&nbsp;&nbsp;&nbsp;0.6 |
| Building Materials | &nbsp;&nbsp;&nbsp;&nbsp;0.6 |
| Commercial Services | &nbsp;&nbsp;&nbsp;&nbsp;0.6 |
| Home Furnishings | &nbsp;&nbsp;&nbsp;&nbsp;0.6 |
| Shipbuilding | &nbsp;&nbsp;&nbsp;&nbsp;0.5 |
| Agriculture | &nbsp;&nbsp;&nbsp;&nbsp;0.4 |
| Machinery-Construction & Mining | &nbsp;&nbsp;&nbsp;&nbsp;0.4 |
| Coal | &nbsp;&nbsp;&nbsp;&nbsp;0.4 |
| Leisure Time | &nbsp;&nbsp;&nbsp;&nbsp;0.4 |
| Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Machinery-Diversified | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Household Products/Wares | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Distribution/Wholesale | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Holding Companies-Diversified | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Airlines | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Lodging | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Apparel | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Gas | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Pipelines | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Cosmetics/Personal Care | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Metal Fabricate/Hardware | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Water | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| REITS | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Forest Products & Paper | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
|  | &nbsp;&nbsp;100.4% |

---

\* Calculated as a percentage of net assets

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Emerging Markets Equity Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;British Virgin Islands | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$0 |
| &nbsp;&nbsp;&nbsp;Cyprus | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110289 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110289 |
| &nbsp;&nbsp;&nbsp;Russia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp;Other Countries | &nbsp;&nbsp;&nbsp;&nbsp;103931343 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;103931343 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20358 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20358 |
| **Total Investments at Value** | &nbsp;&nbsp;$104061990 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$104061990 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;$1375 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1375 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | &nbsp;&nbsp;Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

Level 3 investments in securities were not considered a significant portion of the Portfolio's net assets.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Federated Hermes Corporate Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES — 89.4%** | **CORPORATE BONDS & NOTES — 89.4%** | **CORPORATE BONDS & NOTES — 89.4%** |
| **Advertising — 0.2%** | **Advertising — 0.2%** | **Advertising — 0.2%** |
| &nbsp;&nbsp;&nbsp;Interpublic Group of Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 03/01/2041 | $3440000 | &nbsp;&nbsp;$2556257 |
| &nbsp;&nbsp;&nbsp;Outfront Media Capital LLC/Outfront Media Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 01/15/2029\* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 452224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 03/15/2030\* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 284788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 08/15/2027\* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 173239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 02/15/2031\* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 26249 |
| &nbsp;&nbsp;&nbsp;Stagwell Global LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 08/15/2029\* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 312818 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3805575 |
| **Aerospace/Defense — 1.6%** | **Aerospace/Defense — 1.6%** | **Aerospace/Defense — 1.6%** |
| &nbsp;&nbsp;&nbsp;BAE Systems Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 12/15/2025\* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1993727 |
| &nbsp;&nbsp;&nbsp;Boeing Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 02/01/2030 | &nbsp;&nbsp; 1950000 | &nbsp;&nbsp;&nbsp;&nbsp; 1810902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 08/01/2059 | &nbsp;&nbsp; 2670000 | &nbsp;&nbsp;&nbsp;&nbsp; 1835678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.81%, 05/01/2050 | &nbsp;&nbsp; 2570000 | &nbsp;&nbsp;&nbsp;&nbsp; 2480278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.53%, 05/01/2034 | &nbsp;&nbsp; 4335000 | &nbsp;&nbsp;&nbsp;&nbsp; 4718249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.86%, 05/01/2054 | &nbsp;&nbsp; 1380000 | &nbsp;&nbsp;&nbsp;&nbsp; 1516846 |
| &nbsp;&nbsp;&nbsp;Goat Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 02/01/2032\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 403227 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 01/15/2026 | &nbsp;&nbsp; 6230000 | &nbsp;&nbsp;&nbsp;&nbsp; 6203866 |
| &nbsp;&nbsp;&nbsp;TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 01/15/2029 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 171100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 03/01/2029\* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 383794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 05/31/2033\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 150953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 03/01/2032\* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 308481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 08/15/2028\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 12/15/2030\* | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp;&nbsp;&nbsp; 1761832 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23840969 |
| **Agriculture — 0.6%** | **Agriculture — 0.6%** | **Agriculture — 0.6%** |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.56%, 08/15/2027 | &nbsp;&nbsp; 4270000 | &nbsp;&nbsp;&nbsp;&nbsp; 4190738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.54%, 08/15/2047 | &nbsp;&nbsp; 5625000 | &nbsp;&nbsp;&nbsp;&nbsp; 4559999 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8750737 |
| **Airlines — 0.0%** | **Airlines — 0.0%** | **Airlines — 0.0%** |
| &nbsp;&nbsp;&nbsp;American Airlines, Inc./AAdvantage Loyalty IP, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 04/20/2026\* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 74932 |
| **Apparel — 0.2%** | **Apparel — 0.2%** | **Apparel — 0.2%** |
| &nbsp;&nbsp;&nbsp;Beach Acquisition Bidco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.00%, 07/15/2033\*(1) | &nbsp;&nbsp; 1075000 | &nbsp;&nbsp;&nbsp;&nbsp; 1120768 |
| &nbsp;&nbsp;&nbsp;Champ Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.38%, 12/01/2031\* | &nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp; 608318 |
| &nbsp;&nbsp;&nbsp;Hanesbrands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 02/15/2031\* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 499942 |
| &nbsp;&nbsp;&nbsp;Kontoor Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 11/15/2029\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 371537 |
| &nbsp;&nbsp;&nbsp;William Carter Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 03/15/2027\* | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 545399 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3145964 |
| **Auto Manufacturers — 2.1%** | **Auto Manufacturers — 2.1%** | **Auto Manufacturers — 2.1%** |
| &nbsp;&nbsp;&nbsp;Daimler Truck Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 12/14/2026\* | &nbsp;&nbsp; 3030000 | &nbsp;&nbsp;&nbsp;&nbsp; 2928567 |
| &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 11/13/2025 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 398010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/13/2030 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 688404 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 08/17/2027 | $575000 | &nbsp;&nbsp;$560186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 03/08/2034 | &nbsp;&nbsp; 3880000 | &nbsp;&nbsp;&nbsp;&nbsp; 3784050 |
| &nbsp;&nbsp;&nbsp;General Motors Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 04/01/2045 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp;&nbsp;&nbsp; 3261460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.60%, 04/01/2036 | &nbsp;&nbsp; 5240000 | &nbsp;&nbsp;&nbsp;&nbsp; 5533010 |
| &nbsp;&nbsp;&nbsp;Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.30%, 01/08/2026\* | &nbsp;&nbsp; 3610000 | &nbsp;&nbsp;&nbsp;&nbsp; 3555043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 06/24/2030\* | &nbsp;&nbsp; 3325000 | &nbsp;&nbsp;&nbsp;&nbsp; 3359220 |
| &nbsp;&nbsp;&nbsp;JB Poindexter & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 12/15/2031\* | &nbsp;&nbsp; 775000 | &nbsp;&nbsp;&nbsp;&nbsp; 792622 |
| &nbsp;&nbsp;&nbsp;Stellantis Finance US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.71%, 01/29/2027\* | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2860239 |
| &nbsp;&nbsp;&nbsp;Volkswagen Group of America Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.63%, 11/24/2027\* | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4660501 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32381312 |
| **Auto Parts & Equipment — 0.3%** | **Auto Parts & Equipment — 0.3%** | **Auto Parts & Equipment — 0.3%** |
| &nbsp;&nbsp;&nbsp;Adient Global Holdings, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 04/15/2028\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 02/15/2033\* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 127470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 04/15/2031\* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 287453 |
| &nbsp;&nbsp;&nbsp;Clarios Global LP/Clarios US Finance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 05/15/2028\* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 281168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 02/15/2030\* | &nbsp;&nbsp; 625000 | &nbsp;&nbsp;&nbsp;&nbsp; 644394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 05/15/2027\* | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;&nbsp;&nbsp; 1307916 |
| &nbsp;&nbsp;&nbsp;Dornoch Debt Merger Sub, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 10/15/2029\* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 374890 |
| &nbsp;&nbsp;&nbsp;IHO Verwaltungs GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 05/15/2029\*(1) | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 11/15/2032\*(1) | &nbsp;&nbsp; 775000 | &nbsp;&nbsp;&nbsp;&nbsp; 796756 |
| &nbsp;&nbsp;&nbsp;ZF North America Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 04/23/2030\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 142742 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4265389 |
| **Banks — 17.1%** | **Banks — 17.1%** | **Banks — 17.1%** |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.59%, 04/29/2031 | &nbsp;&nbsp; 2325000 | &nbsp;&nbsp;&nbsp;&nbsp; 2125338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.69%, 04/22/2032 | &nbsp;&nbsp; 5600000 | &nbsp;&nbsp;&nbsp;&nbsp; 5021436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 10/22/2030 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3745964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.97%, 02/04/2033 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp;&nbsp;&nbsp; 3222830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.71%, 04/24/2028 | &nbsp;&nbsp; 2975000 | &nbsp;&nbsp;&nbsp;&nbsp; 2935059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.82%, 01/20/2028 | &nbsp;&nbsp; 3170000 | &nbsp;&nbsp;&nbsp;&nbsp; 3135949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.18%, 11/25/2027 | &nbsp;&nbsp; 2760000 | &nbsp;&nbsp;&nbsp;&nbsp; 2744839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 04/27/2028 | &nbsp;&nbsp; 6360000 | &nbsp;&nbsp;&nbsp;&nbsp; 6346612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.57%, 04/27/2033 | &nbsp;&nbsp; 3150000 | &nbsp;&nbsp;&nbsp;&nbsp; 3101173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.51%, 01/24/2036 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp;&nbsp;&nbsp; 9222506 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.99%, 06/13/2028 | &nbsp;&nbsp; 9420000 | &nbsp;&nbsp;&nbsp;&nbsp; 9357765 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.56%, 05/01/2032 | &nbsp;&nbsp; 5625000 | &nbsp;&nbsp;&nbsp;&nbsp; 4980075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.98%, 11/05/2030 | &nbsp;&nbsp; 1390000 | &nbsp;&nbsp;&nbsp;&nbsp; 1297886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.06%, 01/25/2033 | &nbsp;&nbsp; 3010000 | &nbsp;&nbsp;&nbsp;&nbsp; 2696158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 05/01/2026 | &nbsp;&nbsp; 3340000 | &nbsp;&nbsp;&nbsp;&nbsp; 3312348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.52%, 10/27/2028 | &nbsp;&nbsp; 6250000 | &nbsp;&nbsp;&nbsp;&nbsp; 6113754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 07/25/2028 | &nbsp;&nbsp; 1340000 | &nbsp;&nbsp;&nbsp;&nbsp; 1328451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 11/20/2026 | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp;&nbsp;&nbsp; 3088352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.91%, 05/24/2033 | &nbsp;&nbsp; 3880000 | &nbsp;&nbsp;&nbsp;&nbsp; 3872053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.17%, 02/13/2030 | &nbsp;&nbsp; 5385000 | &nbsp;&nbsp;&nbsp;&nbsp; 5482989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 09/13/2025 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2502391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.02%, 01/24/2036 | &nbsp;&nbsp; 5245000 | &nbsp;&nbsp;&nbsp;&nbsp; 5375244 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.72%, 07/23/2032 | &nbsp;&nbsp; 2175000 | &nbsp;&nbsp;&nbsp;&nbsp; 2244022 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Federated Hermes Corporate Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;Comerica, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 07/22/2026 | $2330000 | &nbsp;&nbsp;$2308926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.98%, 01/30/2030 | &nbsp;&nbsp; 935000 | &nbsp;&nbsp;&nbsp;&nbsp; 961419 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Capital I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.35%, 02/15/2034 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2615490 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.62%, 04/22/2032 | &nbsp;&nbsp; 5700000 | &nbsp;&nbsp;&nbsp;&nbsp; 5074102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 02/24/2033 | &nbsp;&nbsp; 4225000 | &nbsp;&nbsp;&nbsp;&nbsp; 3798554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.81%, 04/23/2029 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp;&nbsp;&nbsp; 3729822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.22%, 05/01/2029 | &nbsp;&nbsp; 3125000 | &nbsp;&nbsp;&nbsp;&nbsp; 3105849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.39%, 06/15/2027 | &nbsp;&nbsp; 9825000 | &nbsp;&nbsp;&nbsp;&nbsp; 9800715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.02%, 10/23/2035 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4931608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 05/22/2045 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2708594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.73%, 04/25/2030 | &nbsp;&nbsp; 2555000 | &nbsp;&nbsp;&nbsp;&nbsp; 2652884 |
| &nbsp;&nbsp;&nbsp;Huntington National Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 05/17/2028 | &nbsp;&nbsp; 3150000 | &nbsp;&nbsp;&nbsp;&nbsp; 3153200 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.58%, 04/22/2032 | &nbsp;&nbsp; 5700000 | &nbsp;&nbsp;&nbsp;&nbsp; 5088219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 02/24/2028 | &nbsp;&nbsp; 2310000 | &nbsp;&nbsp;&nbsp;&nbsp; 2255827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.96%, 01/25/2033 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3144601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.32%, 04/26/2028 | &nbsp;&nbsp; 6500000 | &nbsp;&nbsp;&nbsp;&nbsp; 6481684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.57%, 06/14/2030 | &nbsp;&nbsp; 8570000 | &nbsp;&nbsp;&nbsp;&nbsp; 8598707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.14%, 01/24/2031 | &nbsp;&nbsp; 1845000 | &nbsp;&nbsp;&nbsp;&nbsp; 1885536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 06/01/2034 | &nbsp;&nbsp; 4630000 | &nbsp;&nbsp;&nbsp;&nbsp; 4749489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 01/24/2036 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5129799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.58%, 04/22/2030 | &nbsp;&nbsp; 3330000 | &nbsp;&nbsp;&nbsp;&nbsp; 3451979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 04/29/2027 | &nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 489079 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.59%, 05/04/2027 | &nbsp;&nbsp; 4115000 | &nbsp;&nbsp;&nbsp;&nbsp; 4022163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.93%, 04/28/2032 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4286083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.94%, 01/21/2033 | &nbsp;&nbsp; 4985000 | &nbsp;&nbsp;&nbsp;&nbsp; 4454668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.77%, 01/24/2029 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1966699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 04/23/2027 | &nbsp;&nbsp; 8250000 | &nbsp;&nbsp;&nbsp;&nbsp; 8181157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.46%, 04/22/2039 | &nbsp;&nbsp; 3125000 | &nbsp;&nbsp;&nbsp;&nbsp; 2889948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 11/24/2025 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2001158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.16%, 04/20/2029 | &nbsp;&nbsp; 6500000 | &nbsp;&nbsp;&nbsp;&nbsp; 6604799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.66%, 04/18/2030 | &nbsp;&nbsp; 2595000 | &nbsp;&nbsp;&nbsp;&nbsp; 2689019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.83%, 04/19/2035 | &nbsp;&nbsp; 3010000 | &nbsp;&nbsp;&nbsp;&nbsp; 3155253 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 06/06/2033 | &nbsp;&nbsp; 4700000 | &nbsp;&nbsp;&nbsp;&nbsp; 4575360 |
| &nbsp;&nbsp;&nbsp;State Street Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.42%, 05/13/2033 | &nbsp;&nbsp; 3150000 | &nbsp;&nbsp;&nbsp;&nbsp; 3082811 |
| &nbsp;&nbsp;&nbsp;Truist Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 10/30/2026 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2970912 |
| &nbsp;&nbsp;&nbsp;Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.12%, 06/06/2028 | &nbsp;&nbsp; 3850000 | &nbsp;&nbsp;&nbsp;&nbsp; 3830581 |
| &nbsp;&nbsp;&nbsp;US Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 07/23/2030 | &nbsp;&nbsp; 2185000 | &nbsp;&nbsp;&nbsp;&nbsp; 2229622 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35%, 03/02/2033 | &nbsp;&nbsp; 5750000 | &nbsp;&nbsp;&nbsp;&nbsp; 5263727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.53%, 03/24/2028 | &nbsp;&nbsp; 5600000 | &nbsp;&nbsp;&nbsp;&nbsp; 5511271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 07/22/2027 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp;&nbsp;&nbsp; 4791562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 11/17/2045 | &nbsp;&nbsp; 2330000 | &nbsp;&nbsp;&nbsp;&nbsp; 2054578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 04/23/2031 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp;&nbsp;&nbsp; 3673574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.24%, 01/24/2031 | &nbsp;&nbsp; 3845000 | &nbsp;&nbsp;&nbsp;&nbsp; 3936568 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261540790 |
| **Beverages — 2.6%** | **Beverages — 2.6%** | **Beverages — 2.6%** |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 02/01/2046 | &nbsp;&nbsp; 3270000 | &nbsp;&nbsp;&nbsp;&nbsp; 2989611 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Beverages (continued)** | **Beverages (continued)** | **Beverages (continued)** |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 04/15/2048 | $2920000 | &nbsp;&nbsp;$2585012 |
| &nbsp;&nbsp;&nbsp;Bacardi, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 07/15/2026\* | &nbsp;&nbsp; 1340000 | &nbsp;&nbsp;&nbsp;&nbsp; 1313829 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00%, 03/15/2028 | &nbsp;&nbsp;10700000 | &nbsp;&nbsp;&nbsp;&nbsp; 9896657 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Europacific Partners PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 01/15/2027\* | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp;&nbsp;&nbsp; 2154709 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Femsa SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 01/22/2030 | &nbsp;&nbsp; 4805000 | &nbsp;&nbsp;&nbsp;&nbsp; 4459122 |
| &nbsp;&nbsp;&nbsp;Constellation Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 05/01/2050 | &nbsp;&nbsp; 385000 | &nbsp;&nbsp;&nbsp;&nbsp; 279755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.35%, 05/09/2027 | &nbsp;&nbsp; 3150000 | &nbsp;&nbsp;&nbsp;&nbsp; 3139639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 11/15/2028 | &nbsp;&nbsp; 5335000 | &nbsp;&nbsp;&nbsp;&nbsp; 5359740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 11/15/2048 | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp;&nbsp;&nbsp; 2052051 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.99%, 05/25/2038 | &nbsp;&nbsp; 1340000 | &nbsp;&nbsp;&nbsp;&nbsp; 1300396 |
| &nbsp;&nbsp;&nbsp;PepsiCo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.95%, 10/21/2031 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4323237 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39853758 |
| **Biotechnology — 1.0%** | **Biotechnology — 1.0%** | **Biotechnology — 1.0%** |
| &nbsp;&nbsp;&nbsp;Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20%, 02/21/2027 | &nbsp;&nbsp; 5060000 | &nbsp;&nbsp;&nbsp;&nbsp; 4893789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 03/02/2033 | &nbsp;&nbsp; 3680000 | &nbsp;&nbsp;&nbsp;&nbsp; 3753723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 03/02/2053 | &nbsp;&nbsp; 3630000 | &nbsp;&nbsp;&nbsp;&nbsp; 3510154 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 09/15/2030 | &nbsp;&nbsp; 1185000 | &nbsp;&nbsp;&nbsp;&nbsp; 1028928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 09/15/2050 | &nbsp;&nbsp; 3920000 | &nbsp;&nbsp;&nbsp;&nbsp; 2341491 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15528085 |
| **Building Materials — 0.9%** | **Building Materials — 0.9%** | **Building Materials — 0.9%** |
| &nbsp;&nbsp;&nbsp;Camelot Return Merger Sub, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 08/01/2028\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 91627 |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 02/15/2031 | &nbsp;&nbsp; 3110000 | &nbsp;&nbsp;&nbsp;&nbsp; 2821717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.72%, 02/15/2030 | &nbsp;&nbsp; 1265000 | &nbsp;&nbsp;&nbsp;&nbsp; 1173735 |
| &nbsp;&nbsp;&nbsp;CP Atlas Buyer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.75%, 07/15/2030\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 403592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.75%, 01/15/2031\*(1) | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 451208 |
| &nbsp;&nbsp;&nbsp;EMRLD Borrower LP/Emerald Co.-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 12/15/2030\* | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 764707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 07/15/2031\* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 283214 |
| &nbsp;&nbsp;&nbsp;Lennox International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.70%, 08/01/2027 | &nbsp;&nbsp; 3370000 | &nbsp;&nbsp;&nbsp;&nbsp; 3186782 |
| &nbsp;&nbsp;&nbsp;Masterbrand, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 07/15/2032\* | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 660555 |
| &nbsp;&nbsp;&nbsp;Miter Brands Acquisition Holdco, Inc./MIWD Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 04/01/2032\* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 357345 |
| &nbsp;&nbsp;&nbsp;MIWD Holdco II LLC/MIWD Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 02/01/2030\* | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 523513 |
| &nbsp;&nbsp;&nbsp;Quikrete Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 03/01/2032\* | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 615357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 03/01/2033\* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 358969 |
| &nbsp;&nbsp;&nbsp;Standard Building Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 08/01/2033\* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 353334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 08/15/2032\* | &nbsp;&nbsp; 525000 | &nbsp;&nbsp;&nbsp;&nbsp; 536107 |
| &nbsp;&nbsp;&nbsp;Standard Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 01/15/2028\* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 493130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/15/2027\* | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 749620 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13824512 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Federated Hermes Corporate Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Chemicals — 0.4%** | **Chemicals — 0.4%** | **Chemicals — 0.4%** |
| &nbsp;&nbsp;&nbsp;Axalta Coating Systems Dutch Holding B BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 02/15/2031\* | $250000 | &nbsp;&nbsp;$259984 |
| &nbsp;&nbsp;&nbsp;Axalta Coating Systems LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 02/15/2029\* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 445273 |
| &nbsp;&nbsp;&nbsp;Celanese US Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 04/15/2030 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 606750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 04/15/2033 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 403435 |
| &nbsp;&nbsp;&nbsp;Element Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 09/01/2028\* | &nbsp;&nbsp; 675000 | &nbsp;&nbsp;&nbsp;&nbsp; 650260 |
| &nbsp;&nbsp;&nbsp;H.B. Fuller Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 10/15/2028 | &nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp; 554551 |
| &nbsp;&nbsp;&nbsp;Illuminate Buyer LLC/Illuminate Holdings IV, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 07/01/2028\* | &nbsp;&nbsp; 625000 | &nbsp;&nbsp;&nbsp;&nbsp; 625259 |
| &nbsp;&nbsp;&nbsp;Olympus Water US Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 10/01/2028\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 190438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 10/01/2029\* | &nbsp;&nbsp; 1275000 | &nbsp;&nbsp;&nbsp;&nbsp; 1221343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 06/15/2031\* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 178719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.75%, 11/15/2028\* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 393122 |
| &nbsp;&nbsp;&nbsp;SNF Group SACA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 03/15/2030\* | &nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 390279 |
| &nbsp;&nbsp;&nbsp;WR Grace Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 08/15/2029\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 368770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 03/01/2031\* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 128662 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6416845 |
| **Commercial Services — 2.8%** | **Commercial Services — 2.8%** | **Commercial Services — 2.8%** |
| &nbsp;&nbsp;&nbsp;Allied Universal Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 02/15/2031\* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 393239 |
| &nbsp;&nbsp;&nbsp;Allied Universal Holdco LLC/Allied Universal Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 06/01/2029\* | &nbsp;&nbsp; 1075000 | &nbsp;&nbsp;&nbsp;&nbsp; 1046262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 06/15/2030\* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 127971 |
| &nbsp;&nbsp;&nbsp;Ashtead Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 08/12/2031\* | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp;&nbsp;&nbsp; 3243673 |
| &nbsp;&nbsp;&nbsp;Belron UK Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 10/15/2029\* | &nbsp;&nbsp; 775000 | &nbsp;&nbsp;&nbsp;&nbsp; 782273 |
| &nbsp;&nbsp;&nbsp;Boost Newco Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 01/15/2031\* | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1163042 |
| &nbsp;&nbsp;&nbsp;Brink's Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 06/15/2029\* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 332963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 06/15/2032\* | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 618002 |
| &nbsp;&nbsp;&nbsp;Cintas Corp. No. 2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 04/01/2027 | &nbsp;&nbsp; 3140000 | &nbsp;&nbsp;&nbsp;&nbsp; 3108451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 05/01/2032 | &nbsp;&nbsp; 3375000 | &nbsp;&nbsp;&nbsp;&nbsp; 3259960 |
| &nbsp;&nbsp;&nbsp;Clarivate Science Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 07/01/2029\* | &nbsp;&nbsp; 1075000 | &nbsp;&nbsp;&nbsp;&nbsp; 1006783 |
| &nbsp;&nbsp;&nbsp;Equifax, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 06/01/2026 | &nbsp;&nbsp; 3425000 | &nbsp;&nbsp;&nbsp;&nbsp; 3381352 |
| &nbsp;&nbsp;&nbsp;ERAC USA Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 02/15/2045\* | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 644830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 03/15/2042\* | &nbsp;&nbsp; 4090000 | &nbsp;&nbsp;&nbsp;&nbsp; 4056905 |
| &nbsp;&nbsp;&nbsp;Garda World Security Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 06/01/2029\* | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 686604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 02/15/2028\* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 231712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 08/01/2032\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.38%, 11/15/2032\* | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 927073 |
| &nbsp;&nbsp;&nbsp;Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 06/01/2028 | &nbsp;&nbsp; 870000 | &nbsp;&nbsp;&nbsp;&nbsp; 866283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 04/01/2026 | &nbsp;&nbsp; 695000 | &nbsp;&nbsp;&nbsp;&nbsp; 694956 |
| &nbsp;&nbsp;&nbsp;GXO Logistics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.65%, 07/15/2026 | &nbsp;&nbsp; 2395000 | &nbsp;&nbsp;&nbsp;&nbsp; 2327623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 07/15/2031 | &nbsp;&nbsp; 2825000 | &nbsp;&nbsp;&nbsp;&nbsp; 2461856 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| &nbsp;&nbsp;&nbsp;Herc Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 06/15/2030\* | $225000 | &nbsp;&nbsp;$232546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 06/15/2033\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 155327 |
| &nbsp;&nbsp;&nbsp;Raven Acquisition Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 11/15/2031\* | &nbsp;&nbsp; 625000 | &nbsp;&nbsp;&nbsp;&nbsp; 631267 |
| &nbsp;&nbsp;&nbsp;S&P Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 05/01/2029 | &nbsp;&nbsp; 5415000 | &nbsp;&nbsp;&nbsp;&nbsp; 5402119 |
| &nbsp;&nbsp;&nbsp;Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 08/15/2032\* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 129124 |
| &nbsp;&nbsp;&nbsp;United Rentals North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 12/15/2029\* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 356265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 03/15/2034\* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 461386 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 03/15/2029 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp; 158739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 06/15/2045 | &nbsp;&nbsp; 3560000 | &nbsp;&nbsp;&nbsp;&nbsp; 3410806 |
| &nbsp;&nbsp;&nbsp;ZipRecruiter, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/15/2030\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 151361 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42553859 |
| **Computers — 2.6%** | **Computers — 2.6%** | **Computers — 2.6%** |
| &nbsp;&nbsp;&nbsp;Amentum Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 08/01/2032\* | &nbsp;&nbsp; 625000 | &nbsp;&nbsp;&nbsp;&nbsp; 646545 |
| &nbsp;&nbsp;&nbsp;Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.65%, 05/11/2030 | &nbsp;&nbsp; 7320000 | &nbsp;&nbsp;&nbsp;&nbsp; 6507737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.65%, 02/08/2031 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6093575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 02/08/2061 | &nbsp;&nbsp; 8615000 | &nbsp;&nbsp;&nbsp;&nbsp; 5069081 |
| &nbsp;&nbsp;&nbsp;CACI International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 06/15/2033\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 153381 |
| &nbsp;&nbsp;&nbsp;Dell International LLC/EMC Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.35%, 07/15/2046 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2543507 |
| &nbsp;&nbsp;&nbsp;Fortinet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00%, 03/15/2026 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1173351 |
| &nbsp;&nbsp;&nbsp;Fortress Intermediate 3, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 06/01/2031\* | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp; 892060 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/15/2034 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6790679 |
| &nbsp;&nbsp;&nbsp;Insight Enterprises, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 05/15/2032\* | &nbsp;&nbsp; 675000 | &nbsp;&nbsp;&nbsp;&nbsp; 690272 |
| &nbsp;&nbsp;&nbsp;Leidos Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 12/01/2040 | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp; 845528 |
| &nbsp;&nbsp;&nbsp;Leidos, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 02/15/2031 | &nbsp;&nbsp; 5595000 | &nbsp;&nbsp;&nbsp;&nbsp; 4899195 |
| &nbsp;&nbsp;&nbsp;McAfee Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 02/15/2030\* | &nbsp;&nbsp; 1675000 | &nbsp;&nbsp;&nbsp;&nbsp; 1553042 |
| &nbsp;&nbsp;&nbsp;NCR Voyix Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 04/15/2029\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 245006 |
| &nbsp;&nbsp;&nbsp;NCR Atleos Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.50%, 04/01/2029\* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 406258 |
| &nbsp;&nbsp;&nbsp;NCR Voyix Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/01/2028\* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 491826 |
| &nbsp;&nbsp;&nbsp;Science Applications International Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 04/01/2028\* | &nbsp;&nbsp; 525000 | &nbsp;&nbsp;&nbsp;&nbsp; 516432 |
| &nbsp;&nbsp;&nbsp;Seagate Data Storage Technology Pte, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 07/15/2030\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 07/15/2031\* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 475255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.63%, 12/01/2032\* | &nbsp;&nbsp; 331000 | &nbsp;&nbsp;&nbsp;&nbsp; 372781 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40466531 |
| **Cosmetics/Personal Care — 0.1%** | **Cosmetics/Personal Care — 0.1%** | **Cosmetics/Personal Care — 0.1%** |
| &nbsp;&nbsp;&nbsp;Edgewell Personal Care Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 06/01/2028\* | &nbsp;&nbsp; 875000 | &nbsp;&nbsp;&nbsp;&nbsp; 868420 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Federated Hermes Corporate Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Distribution/Wholesale — 0.1%** | **Distribution/Wholesale — 0.1%** | **Distribution/Wholesale — 0.1%** |
| &nbsp;&nbsp;&nbsp;American Builders & Contractors Supply Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 11/15/2029\* | $625000 | &nbsp;&nbsp;$589038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 01/15/2028\* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 48669 |
| &nbsp;&nbsp;&nbsp;Gates Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 07/01/2029\* | &nbsp;&nbsp; 950000 | &nbsp;&nbsp;&nbsp;&nbsp; 977626 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1615333 |
| **Diversified Financial Services — 2.2%** | **Diversified Financial Services — 2.2%** | **Diversified Financial Services — 2.2%** |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC/AerCap Global Aviation Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 01/30/2026 | &nbsp;&nbsp; 1830000 | &nbsp;&nbsp;&nbsp;&nbsp; 1805206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 10/29/2033 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2195531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 10/15/2027 | &nbsp;&nbsp; 3150000 | &nbsp;&nbsp;&nbsp;&nbsp; 3149765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 01/19/2034 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1506031 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 12/01/2027 | &nbsp;&nbsp; 2650000 | &nbsp;&nbsp;&nbsp;&nbsp; 2597076 |
| &nbsp;&nbsp;&nbsp;American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 05/03/2029 | &nbsp;&nbsp; 4725000 | &nbsp;&nbsp;&nbsp;&nbsp; 4701841 |
| &nbsp;&nbsp;&nbsp;Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 10/29/2025 | &nbsp;&nbsp; 1690000 | &nbsp;&nbsp;&nbsp;&nbsp; 1686861 |
| &nbsp;&nbsp;&nbsp;Cboe Global Markets, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 01/12/2027 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2968712 |
| &nbsp;&nbsp;&nbsp;FMR LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.57%, 06/15/2029\* | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp;&nbsp;&nbsp; 2433791 |
| &nbsp;&nbsp;&nbsp;Jefferies Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 10/15/2031 | &nbsp;&nbsp; 3150000 | &nbsp;&nbsp;&nbsp;&nbsp; 2745983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 01/15/2027 | &nbsp;&nbsp; 3475000 | &nbsp;&nbsp;&nbsp;&nbsp; 3491256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 01/20/2043 | &nbsp;&nbsp; 1170000 | &nbsp;&nbsp;&nbsp;&nbsp; 1217591 |
| &nbsp;&nbsp;&nbsp;Macquarie Airfinance Holdings, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.40%, 03/26/2029\* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 25990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.13%, 03/30/2029\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 156570 |
| &nbsp;&nbsp;&nbsp;Navient Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 03/15/2027 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 148348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 03/15/2029 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 73368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 06/15/2026 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 328238 |
| &nbsp;&nbsp;&nbsp;Rocket Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 08/01/2030\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 08/01/2033\* | &nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 433493 |
| &nbsp;&nbsp;&nbsp;Rocket Mtg. LLC/Rocket Mtg. Co.-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 10/15/2026\* | &nbsp;&nbsp; 625000 | &nbsp;&nbsp;&nbsp;&nbsp; 609419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 03/01/2031\* | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 507329 |
| &nbsp;&nbsp;&nbsp;United Wholesale Mtg. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 11/15/2025\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 399918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 04/15/2029\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 06/15/2027\* | &nbsp;&nbsp; 725000 | &nbsp;&nbsp;&nbsp;&nbsp; 724920 |
| &nbsp;&nbsp;&nbsp;UWM Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 02/01/2030\* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 350154 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34456600 |
| **Electric — 4.9%** | **Electric — 4.9%** | **Electric — 4.9%** |
| &nbsp;&nbsp;&nbsp;AEP Texas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 05/15/2032 | &nbsp;&nbsp; 3275000 | &nbsp;&nbsp;&nbsp;&nbsp; 3217401 |
| &nbsp;&nbsp;&nbsp;Ameren Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.95%, 03/15/2027 | &nbsp;&nbsp; 1090000 | &nbsp;&nbsp;&nbsp;&nbsp; 1047189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 02/15/2026 | &nbsp;&nbsp; 1480000 | &nbsp;&nbsp;&nbsp;&nbsp; 1471430 |
| &nbsp;&nbsp;&nbsp;American Electric Power Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 11/13/2027 | &nbsp;&nbsp; 3125000 | &nbsp;&nbsp;&nbsp;&nbsp; 3041346 |
| &nbsp;&nbsp;&nbsp;Black Hills Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 06/15/2030 | &nbsp;&nbsp; 1210000 | &nbsp;&nbsp;&nbsp;&nbsp; 1089828 |
| &nbsp;&nbsp;&nbsp;Calpine Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/01/2031\* | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp; 840157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 03/15/2028\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 248791 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp;&nbsp;Cleveland Electric Illuminating Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 12/15/2036 | $1145000 | &nbsp;&nbsp;$1179656 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 12/01/2054 | &nbsp;&nbsp; 1367000 | &nbsp;&nbsp;&nbsp;&nbsp; 1150076 |
| &nbsp;&nbsp;&nbsp;Constellation Energy Generation LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 10/01/2041 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 500835 |
| &nbsp;&nbsp;&nbsp;Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 04/01/2030 | &nbsp;&nbsp; 6350000 | &nbsp;&nbsp;&nbsp;&nbsp; 6029937 |
| &nbsp;&nbsp;&nbsp;Emera US Finance LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 06/15/2026 | &nbsp;&nbsp; 1240000 | &nbsp;&nbsp;&nbsp;&nbsp; 1226720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 06/15/2046 | &nbsp;&nbsp; 1880000 | &nbsp;&nbsp;&nbsp;&nbsp; 1552397 |
| &nbsp;&nbsp;&nbsp;Enel Finance International NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 07/12/2031\* | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4404474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 06/14/2029\* | &nbsp;&nbsp; 980000 | &nbsp;&nbsp;&nbsp;&nbsp; 998882 |
| &nbsp;&nbsp;&nbsp;Eversource Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35%, 03/15/2026 | &nbsp;&nbsp; 3300000 | &nbsp;&nbsp;&nbsp;&nbsp; 3268369 |
| &nbsp;&nbsp;&nbsp;Exelon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10%, 03/15/2052 | &nbsp;&nbsp; 7980000 | &nbsp;&nbsp;&nbsp;&nbsp; 6099427 |
| &nbsp;&nbsp;&nbsp;Fortis, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.06%, 10/04/2026 | &nbsp;&nbsp; 3220000 | &nbsp;&nbsp;&nbsp;&nbsp; 3157513 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 02/07/2028 | &nbsp;&nbsp; 7840000 | &nbsp;&nbsp;&nbsp;&nbsp; 7658830 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 05/01/2027 | &nbsp;&nbsp; 7575000 | &nbsp;&nbsp;&nbsp;&nbsp; 7456898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 07/15/2027 | &nbsp;&nbsp; 2010000 | &nbsp;&nbsp;&nbsp;&nbsp; 2016961 |
| &nbsp;&nbsp;&nbsp;NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 01/15/2028 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp;&nbsp;&nbsp; 526609 |
| &nbsp;&nbsp;&nbsp;Puget Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 06/15/2028 | &nbsp;&nbsp; 925000 | &nbsp;&nbsp;&nbsp;&nbsp; 869711 |
| &nbsp;&nbsp;&nbsp;Sempra |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 04/01/2029 | &nbsp;&nbsp; 6100000 | &nbsp;&nbsp;&nbsp;&nbsp; 5916743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 10/15/2039 | &nbsp;&nbsp; 1170000 | &nbsp;&nbsp;&nbsp;&nbsp; 1177242 |
| &nbsp;&nbsp;&nbsp;TransAlta Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 11/15/2029 | &nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp; 599120 |
| &nbsp;&nbsp;&nbsp;Virginia Electric & Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 05/15/2027 | &nbsp;&nbsp; 3275000 | &nbsp;&nbsp;&nbsp;&nbsp; 3242738 |
| &nbsp;&nbsp;&nbsp;Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 09/01/2026\* | &nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 424770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 02/15/2027\* | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 799080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 04/15/2032\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 155857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 10/15/2031\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 211678 |
| &nbsp;&nbsp;&nbsp;Xcel Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 06/01/2032 | &nbsp;&nbsp; 3160000 | &nbsp;&nbsp;&nbsp;&nbsp; 3084936 |
| &nbsp;&nbsp;&nbsp;XPLR Infrastructure Operating Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 09/15/2027\* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 314627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 01/15/2029\* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 484407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.38%, 01/15/2031\* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 131112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.63%, 03/15/2033\* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 185355 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75781102 |
| **Electrical Components & Equipment — 0.2%** | **Electrical Components & Equipment — 0.2%** | **Electrical Components & Equipment — 0.2%** |
| &nbsp;&nbsp;&nbsp;Energizer Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 03/31/2029\* | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 568831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 06/15/2028\* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 437159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 12/31/2027\* | &nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 431199 |
| &nbsp;&nbsp;&nbsp;WESCO Distribution, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 03/15/2029\* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 128212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 03/15/2033\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 03/15/2032\* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 180567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 06/15/2028\* | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 658655 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2506999 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Federated Hermes Corporate Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Electronics — 2.2%** | **Electronics — 2.2%** | **Electronics — 2.2%** |
| &nbsp;&nbsp;&nbsp;Allegion PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 10/01/2029 | $3900000 | &nbsp;&nbsp;$3728168 |
| &nbsp;&nbsp;&nbsp;Allegion US Holding Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 10/01/2027 | &nbsp;&nbsp; 6070000 | &nbsp;&nbsp;&nbsp;&nbsp; 5936558 |
| &nbsp;&nbsp;&nbsp;Coherent Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 12/15/2029\* | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 782952 |
| &nbsp;&nbsp;&nbsp;Honeywell International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10%, 03/01/2027 | &nbsp;&nbsp;10700000 | &nbsp;&nbsp;&nbsp;&nbsp; 10177630 |
| &nbsp;&nbsp;&nbsp;Hubbell, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 03/15/2031 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1847012 |
| &nbsp;&nbsp;&nbsp;Keysight Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/30/2029 | &nbsp;&nbsp; 1425000 | &nbsp;&nbsp;&nbsp;&nbsp; 1336184 |
| &nbsp;&nbsp;&nbsp;Sensata Technologies BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 09/01/2030\* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 275222 |
| &nbsp;&nbsp;&nbsp;Sensata Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 07/15/2032\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 408718 |
| &nbsp;&nbsp;&nbsp;TTM Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 03/01/2029\* | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 618681 |
| &nbsp;&nbsp;&nbsp;Tyco Electronics Group SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 02/15/2026 | &nbsp;&nbsp; 9297000 | &nbsp;&nbsp;&nbsp;&nbsp; 9250649 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34361774 |
| **Energy-Alternate Sources — 0.1%** | **Energy-Alternate Sources — 0.1%** | **Energy-Alternate Sources — 0.1%** |
| &nbsp;&nbsp;&nbsp;TerraForm Power Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 01/15/2030\* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 167754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/31/2028\* | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 739901 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;907655 |
| **Entertainment — 0.7%** | **Entertainment — 0.7%** | **Entertainment — 0.7%** |
| &nbsp;&nbsp;&nbsp;Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 10/15/2029\* | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp;&nbsp;&nbsp; 992286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 10/15/2032\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 241296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 02/15/2032\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 254954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 02/15/2030\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206307 |
| &nbsp;&nbsp;&nbsp;CCM Merger, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 05/01/2026\* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 449864 |
| &nbsp;&nbsp;&nbsp;Churchill Downs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 04/01/2030\* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 224444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 05/01/2031\* | &nbsp;&nbsp; 675000 | &nbsp;&nbsp;&nbsp;&nbsp; 689193 |
| &nbsp;&nbsp;&nbsp;Light & Wonder International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 11/15/2029\* | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 564793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 09/01/2031\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 416914 |
| &nbsp;&nbsp;&nbsp;Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 05/01/2029\* | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp;&nbsp;&nbsp; 1011607 |
| &nbsp;&nbsp;&nbsp;Penn Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 07/01/2029\* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 254884 |
| &nbsp;&nbsp;&nbsp;SeaWorld Parks & Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 08/15/2029\* | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp; 827349 |
| &nbsp;&nbsp;&nbsp;Six Flags Entertainment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 05/15/2031\* | &nbsp;&nbsp; 725000 | &nbsp;&nbsp;&nbsp;&nbsp; 738903 |
| &nbsp;&nbsp;&nbsp;Warnermedia Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 03/15/2042 | &nbsp;&nbsp; 4595000 | &nbsp;&nbsp;&nbsp;&nbsp; 3071528 |
| &nbsp;&nbsp;&nbsp;Wynn Resorts Finance LLC/Wynn Resorts Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 03/15/2033\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 150440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.13%, 02/15/2031\* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 398853 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10493615 |
| **Environmental Control — 0.1%** | **Environmental Control — 0.1%** | **Environmental Control — 0.1%** |
| &nbsp;&nbsp;&nbsp;Madison IAQ LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 06/30/2029\* | &nbsp;&nbsp; 1475000 | &nbsp;&nbsp;&nbsp;&nbsp; 1436011 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Food — 2.1%** | **Food — 2.1%** | **Food — 2.1%** |
| &nbsp;&nbsp;&nbsp;Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 03/15/2029\* | $475000 | &nbsp;&nbsp;$447953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 02/15/2028\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 03/15/2033\* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 76446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 02/15/2028\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 152327 |
| &nbsp;&nbsp;&nbsp;Froneri Lux FinCo SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 08/01/2032\* | &nbsp;&nbsp; 1025000 | &nbsp;&nbsp;&nbsp;&nbsp; 1020763 |
| &nbsp;&nbsp;&nbsp;Grupo Bimbo SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 06/27/2044\* | &nbsp;&nbsp; 2736000 | &nbsp;&nbsp;&nbsp;&nbsp; 2378164 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 06/01/2046 | &nbsp;&nbsp; 6160000 | &nbsp;&nbsp;&nbsp;&nbsp; 4894076 |
| &nbsp;&nbsp;&nbsp;Kroger Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 02/01/2026 | &nbsp;&nbsp; 3150000 | &nbsp;&nbsp;&nbsp;&nbsp; 3131767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 02/01/2047 | &nbsp;&nbsp; 1325000 | &nbsp;&nbsp;&nbsp;&nbsp; 1092295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 09/15/2034 | &nbsp;&nbsp; 3135000 | &nbsp;&nbsp;&nbsp;&nbsp; 3101146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.90%, 04/15/2038 | &nbsp;&nbsp; 940000 | &nbsp;&nbsp;&nbsp;&nbsp; 1051110 |
| &nbsp;&nbsp;&nbsp;Performance Food Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 08/01/2029\* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 360538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 10/15/2027\* | &nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp; 574116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 09/15/2032\* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50774 |
| &nbsp;&nbsp;&nbsp;Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 12/15/2029\* | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 644366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 02/15/2032\* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 331070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 03/01/2033\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99925 |
| &nbsp;&nbsp;&nbsp;Smithfield Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 09/13/2031\* | &nbsp;&nbsp; 3230000 | &nbsp;&nbsp;&nbsp;&nbsp; 2787590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/15/2030\* | &nbsp;&nbsp; 4220000 | &nbsp;&nbsp;&nbsp;&nbsp; 3841376 |
| &nbsp;&nbsp;&nbsp;Sysco Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 03/15/2048 | &nbsp;&nbsp; 5175000 | &nbsp;&nbsp;&nbsp;&nbsp; 4295983 |
| &nbsp;&nbsp;&nbsp;US Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 02/15/2029\* | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 685537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 04/15/2033\* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 74310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 09/15/2028\* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 231722 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31523196 |
| **Gas — 0.6%** | **Gas — 0.6%** | **Gas — 0.6%** |
| &nbsp;&nbsp;&nbsp;National Fuel Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 03/01/2031 | &nbsp;&nbsp; 2580000 | &nbsp;&nbsp;&nbsp;&nbsp; 2299430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 03/15/2035 | &nbsp;&nbsp; 2735000 | &nbsp;&nbsp;&nbsp;&nbsp; 2800946 |
| &nbsp;&nbsp;&nbsp;NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 05/15/2047 | &nbsp;&nbsp; 935000 | &nbsp;&nbsp;&nbsp;&nbsp; 767026 |
| &nbsp;&nbsp;&nbsp;Southern Co. Gas Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 10/01/2046 | &nbsp;&nbsp; 2370000 | &nbsp;&nbsp;&nbsp;&nbsp; 1821687 |
| &nbsp;&nbsp;&nbsp;Venture Global Plaquemines LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 05/01/2033\* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 512973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 05/01/2035\* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 493410 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8695472 |
| **Healthcare-Products — 1.9%** | **Healthcare-Products — 1.9%** | **Healthcare-Products — 1.9%** |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.40%, 06/30/2030 | &nbsp;&nbsp; 3075000 | &nbsp;&nbsp;&nbsp;&nbsp; 2694965 |
| &nbsp;&nbsp;&nbsp;Agilent Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.05%, 09/22/2026 | &nbsp;&nbsp; 3330000 | &nbsp;&nbsp;&nbsp;&nbsp; 3274625 |
| &nbsp;&nbsp;&nbsp;Alcon Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 05/27/2030\* | &nbsp;&nbsp; 2585000 | &nbsp;&nbsp;&nbsp;&nbsp; 2371323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 09/23/2029\* | &nbsp;&nbsp; 2245000 | &nbsp;&nbsp;&nbsp;&nbsp; 2115659 |
| &nbsp;&nbsp;&nbsp;Avantor Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 07/15/2028\* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 366597 |
| &nbsp;&nbsp;&nbsp;Danaher Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 10/01/2050 | &nbsp;&nbsp; 6855000 | &nbsp;&nbsp;&nbsp;&nbsp; 4122980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 12/10/2051 | &nbsp;&nbsp; 3475000 | &nbsp;&nbsp;&nbsp;&nbsp; 2158959 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Federated Hermes Corporate Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Healthcare-Products (continued)** | **Healthcare-Products (continued)** | **Healthcare-Products (continued)** |
| &nbsp;&nbsp;&nbsp;DH Europe Finance II SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 11/15/2029 | $1665000 | &nbsp;&nbsp;$1550636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 11/15/2049 | &nbsp;&nbsp; 4180000 | &nbsp;&nbsp;&nbsp;&nbsp; 2968945 |
| &nbsp;&nbsp;&nbsp;Insulet Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 04/01/2033\* | &nbsp;&nbsp; 625000 | &nbsp;&nbsp;&nbsp;&nbsp; 642453 |
| &nbsp;&nbsp;&nbsp;Medline Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 10/01/2029\* | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp;&nbsp;&nbsp; 1715808 |
| &nbsp;&nbsp;&nbsp;Medline Borrower LP/Medline Co.-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 04/01/2029\* | &nbsp;&nbsp; 525000 | &nbsp;&nbsp;&nbsp;&nbsp; 535313 |
| &nbsp;&nbsp;&nbsp;Neogen Food Safety Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.63%, 07/20/2030\* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 303192 |
| &nbsp;&nbsp;&nbsp;Revvity, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.90%, 09/15/2028 | &nbsp;&nbsp; 2675000 | &nbsp;&nbsp;&nbsp;&nbsp; 2464510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 09/15/2029 | &nbsp;&nbsp; 2525000 | &nbsp;&nbsp;&nbsp;&nbsp; 2385723 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29671688 |
| **Healthcare-Services — 2.1%** | **Healthcare-Services — 2.1%** | **Healthcare-Services — 2.1%** |
| &nbsp;&nbsp;&nbsp;AHP Health Partners, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 07/15/2029\* | &nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp; 555405 |
| &nbsp;&nbsp;&nbsp;CHS/Community Health Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 03/15/2027\* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 300472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 01/15/2029\* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 213867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 04/01/2030\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 106027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 04/15/2029\* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 252687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.75%, 01/15/2034\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 402555 |
| &nbsp;&nbsp;&nbsp;Concentra Health Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 07/15/2032\* | &nbsp;&nbsp; 725000 | &nbsp;&nbsp;&nbsp;&nbsp; 744930 |
| &nbsp;&nbsp;&nbsp;Elevance Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 03/15/2026 | &nbsp;&nbsp; 5250000 | &nbsp;&nbsp;&nbsp;&nbsp; 5150752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 05/15/2052 | &nbsp;&nbsp; 3155000 | &nbsp;&nbsp;&nbsp;&nbsp; 2543702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 01/15/2036 | &nbsp;&nbsp; 760000 | &nbsp;&nbsp;&nbsp;&nbsp; 787577 |
| &nbsp;&nbsp;&nbsp;HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 09/15/2034 | &nbsp;&nbsp; 6800000 | &nbsp;&nbsp;&nbsp;&nbsp; 6827542 |
| &nbsp;&nbsp;&nbsp;HealthEquity, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 10/01/2029\* | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 673855 |
| &nbsp;&nbsp;&nbsp;IQVIA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 06/01/2032\* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 282000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 05/15/2030\* | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 567069 |
| &nbsp;&nbsp;&nbsp;Molina Healthcare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 01/15/2033\* | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 641295 |
| &nbsp;&nbsp;&nbsp;Select Medical Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 12/01/2032\* | &nbsp;&nbsp; 775000 | &nbsp;&nbsp;&nbsp;&nbsp; 772996 |
| &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 06/01/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 48253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 11/01/2027 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 323685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 10/01/2028 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp;&nbsp;&nbsp; 525032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 02/01/2027 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp;&nbsp;&nbsp; 525233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 05/15/2031 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 308685 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 05/15/2031 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4396251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 08/15/2059 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2086555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 05/15/2052 | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp;&nbsp;&nbsp; 2606076 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31642501 |
| **Holding Companies-Diversified — 0.0%** | **Holding Companies-Diversified — 0.0%** | **Holding Companies-Diversified — 0.0%** |
| &nbsp;&nbsp;&nbsp;Stena International SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 01/15/2031\* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 355661 |
| **Home Furnishings — 0.0%** | **Home Furnishings — 0.0%** | **Home Furnishings — 0.0%** |
| &nbsp;&nbsp;&nbsp;Whirlpool Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 06/15/2030 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 299284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 06/15/2033 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 295614 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594898 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Insurance — 2.4%** | **Insurance — 2.4%** | **Insurance — 2.4%** |
| &nbsp;&nbsp;&nbsp;Acrisure LLC/Acrisure Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 07/01/2032\* | $125000 | &nbsp;&nbsp;$126562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 11/06/2030\* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 464886 |
| &nbsp;&nbsp;&nbsp;Alliant Holdings Intermediate LLC/Alliant Holdings Co.-Issuer |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 11/01/2029\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 246184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 10/15/2027\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 400355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 01/15/2031\* | &nbsp;&nbsp; 625000 | &nbsp;&nbsp;&nbsp;&nbsp; 642670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 10/01/2032\* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 462590 |
| &nbsp;&nbsp;&nbsp;AmWINS Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 06/30/2029\* | &nbsp;&nbsp; 1025000 | &nbsp;&nbsp;&nbsp;&nbsp; 995568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 02/15/2029\* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 356414 |
| &nbsp;&nbsp;&nbsp;Amynta Agency Borrower, Inc. and Amynta Warranty Borrower, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 07/15/2033\* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 325954 |
| &nbsp;&nbsp;&nbsp;Ardonagh Finco, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 02/15/2031\* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 469198 |
| &nbsp;&nbsp;&nbsp;Ardonagh Group Finance, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.88%, 02/15/2032\* | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp;&nbsp;&nbsp; 1998116 |
| &nbsp;&nbsp;&nbsp;AssuredPartners, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 01/15/2029\* | &nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp; 573919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 02/15/2032\* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 133471 |
| &nbsp;&nbsp;&nbsp;Baldwin Insurance Group Holdings LLC/Baldwin Insurance Group Holdings Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.13%, 05/15/2031\* | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp; 877595 |
| &nbsp;&nbsp;&nbsp;BroadStreet Partners, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 04/15/2029\* | &nbsp;&nbsp; 1450000 | &nbsp;&nbsp;&nbsp;&nbsp; 1440242 |
| &nbsp;&nbsp;&nbsp;Hartford Insurance Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 04/15/2042 | &nbsp;&nbsp; 2255000 | &nbsp;&nbsp;&nbsp;&nbsp; 2380842 |
| &nbsp;&nbsp;&nbsp;HUB International, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 12/01/2029\* | &nbsp;&nbsp; 1350000 | &nbsp;&nbsp;&nbsp;&nbsp; 1340424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 06/15/2030\* | &nbsp;&nbsp; 525000 | &nbsp;&nbsp;&nbsp;&nbsp; 547279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 01/31/2032\* | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp;&nbsp;&nbsp; 1093311 |
| &nbsp;&nbsp;&nbsp;Jones Deslauriers Insurance Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 03/15/2030\* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 316515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.50%, 12/15/2030\* | &nbsp;&nbsp; 950000 | &nbsp;&nbsp;&nbsp;&nbsp; 1009563 |
| &nbsp;&nbsp;&nbsp;Lincoln National Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 06/15/2040 | &nbsp;&nbsp; 1425000 | &nbsp;&nbsp;&nbsp;&nbsp; 1566443 |
| &nbsp;&nbsp;&nbsp;Massachusetts Mutual Life Insurance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.88%, 06/01/2039\* | &nbsp;&nbsp; 1008000 | &nbsp;&nbsp;&nbsp;&nbsp; 1316789 |
| &nbsp;&nbsp;&nbsp;MBIA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 10/01/2028 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 244875 |
| &nbsp;&nbsp;&nbsp;MetLife, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.75%, 08/01/2069 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 1195173 |
| &nbsp;&nbsp;&nbsp;Nationwide Mutual Insurance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.38%, 08/15/2039\* | &nbsp;&nbsp; 2870000 | &nbsp;&nbsp;&nbsp;&nbsp; 3780764 |
| &nbsp;&nbsp;&nbsp;New York Life Insurance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 11/15/2039\* | &nbsp;&nbsp; 420000 | &nbsp;&nbsp;&nbsp;&nbsp; 466995 |
| &nbsp;&nbsp;&nbsp;Pacific LifeCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.60%, 09/15/2033\* | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp;&nbsp;&nbsp; 2940028 |
| &nbsp;&nbsp;&nbsp;Panther Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.13%, 06/01/2031\* | &nbsp;&nbsp; 1425000 | &nbsp;&nbsp;&nbsp;&nbsp; 1473589 |
| &nbsp;&nbsp;&nbsp;Penn Mutual Life Insurance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.63%, 06/15/2040\* | &nbsp;&nbsp; 875000 | &nbsp;&nbsp;&nbsp;&nbsp; 991866 |
| &nbsp;&nbsp;&nbsp;Prudential Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.20%, 11/15/2040 | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp; 897605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 12/01/2037 | &nbsp;&nbsp; 2130000 | &nbsp;&nbsp;&nbsp;&nbsp; 2368223 |
| &nbsp;&nbsp;&nbsp;Ryan Specialty LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 02/01/2030\* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 167913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 08/01/2032\* | &nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp; 576589 |
| &nbsp;&nbsp;&nbsp;USF&G Capital III |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.31%, 07/01/2046\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 256099 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Federated Hermes Corporate Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| &nbsp;&nbsp;&nbsp;USI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 01/15/2032\* | $1475000 | &nbsp;&nbsp;$1557315 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36001924 |
| **Internet — 2.1%** | **Internet — 2.1%** | **Internet — 2.1%** |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 08/15/2060 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3153093 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 06/03/2060 | &nbsp;&nbsp; 8580000 | &nbsp;&nbsp;&nbsp;&nbsp; 4924652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 04/13/2027 | &nbsp;&nbsp; 3365000 | &nbsp;&nbsp;&nbsp;&nbsp; 3317093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 04/13/2032 | &nbsp;&nbsp; 6450000 | &nbsp;&nbsp;&nbsp;&nbsp; 6155405 |
| &nbsp;&nbsp;&nbsp;Booking Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 04/13/2030 | &nbsp;&nbsp; 4895000 | &nbsp;&nbsp;&nbsp;&nbsp; 4932574 |
| &nbsp;&nbsp;&nbsp;Cars.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 11/01/2028\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 399170 |
| &nbsp;&nbsp;&nbsp;Expedia Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 02/15/2030 | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp;&nbsp;&nbsp; 3581683 |
| &nbsp;&nbsp;&nbsp;Gen Digital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 04/01/2033\* | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 611687 |
| &nbsp;&nbsp;&nbsp;Go Daddy Operating Co. LLC/GD Finance Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 12/01/2027\* | &nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 423418 |
| &nbsp;&nbsp;&nbsp;Match Group Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 06/01/2028\* | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 683911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 12/15/2027\* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 173667 |
| &nbsp;&nbsp;&nbsp;Millennium Escrow Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 08/01/2026\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 94095 |
| &nbsp;&nbsp;&nbsp;Netflix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 04/15/2028 | &nbsp;&nbsp; 3050000 | &nbsp;&nbsp;&nbsp;&nbsp; 3098169 |
| &nbsp;&nbsp;&nbsp;VeriSign, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 06/15/2031 | &nbsp;&nbsp; 1220000 | &nbsp;&nbsp;&nbsp;&nbsp; 1086398 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32635015 |
| **Iron/Steel — 0.1%** | **Iron/Steel — 0.1%** | **Iron/Steel — 0.1%** |
| &nbsp;&nbsp;&nbsp;Cleveland-Cliffs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 03/01/2031\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 354940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 04/15/2030\* | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 547105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 03/15/2032\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 146342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 09/15/2031\* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 74864 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1123251 |
| **Leisure Time — 0.2%** | **Leisure Time — 0.2%** | **Leisure Time — 0.2%** |
| &nbsp;&nbsp;&nbsp;Acushnet Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 10/15/2028\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 104179 |
| &nbsp;&nbsp;&nbsp;Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 03/15/2030\* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 76073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 08/01/2032\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 06/15/2031\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 253750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 05/01/2029\* | &nbsp;&nbsp; 675000 | &nbsp;&nbsp;&nbsp;&nbsp; 680986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 02/15/2033\* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 76331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 08/15/2029\* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 52543 |
| &nbsp;&nbsp;&nbsp;NCL Corp., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 03/15/2026\* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp; 190342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 03/01/2030\* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 278304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 02/01/2032\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 02/15/2029\* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 53042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.13%, 01/15/2029\* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 78791 |
| &nbsp;&nbsp;&nbsp;NCL Finance, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 03/15/2028\* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 126509 |
| &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 07/15/2027\* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 226067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 08/31/2026\* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 301002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 09/30/2031\* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50359 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Leisure Time (continued)** | **Leisure Time (continued)** | **Leisure Time (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 02/01/2033\* | $300000 | &nbsp;&nbsp;$304951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 03/15/2032\* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 333573 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3593580 |
| **Lodging — 0.3%** | **Lodging — 0.3%** | **Lodging — 0.3%** |
| &nbsp;&nbsp;&nbsp;Boyd Gaming Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 12/01/2027 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 297249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 06/15/2031\* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 357186 |
| &nbsp;&nbsp;&nbsp;Hilton Domestic Operating Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 02/15/2032\* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 247947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 05/01/2028\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 09/15/2033\* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 300285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 03/15/2033\* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 125938 |
| &nbsp;&nbsp;&nbsp;MGM Resorts International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 09/15/2029 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 329455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 04/15/2032 | &nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp; 584043 |
| &nbsp;&nbsp;&nbsp;Station Casinos LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 02/15/2028\* | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 733192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 03/15/2032\* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 356902 |
| &nbsp;&nbsp;&nbsp;Wyndham Hotels & Resorts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 08/15/2028\* | &nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp; 557989 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4090116 |
| **Machinery-Construction & Mining — 0.2%** | **Machinery-Construction & Mining — 0.2%** | **Machinery-Construction & Mining — 0.2%** |
| &nbsp;&nbsp;&nbsp;Weir Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20%, 05/13/2026\* | &nbsp;&nbsp; 3865000 | &nbsp;&nbsp;&nbsp;&nbsp; 3778455 |
| **Machinery-Diversified — 0.4%** | **Machinery-Diversified — 0.4%** | **Machinery-Diversified — 0.4%** |
| &nbsp;&nbsp;&nbsp;John Deere Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 06/07/2032 | &nbsp;&nbsp; 4700000 | &nbsp;&nbsp;&nbsp;&nbsp; 4518995 |
| &nbsp;&nbsp;&nbsp;SPX FLOW, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 04/01/2030\* | &nbsp;&nbsp; 975000 | &nbsp;&nbsp;&nbsp;&nbsp; 1006986 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5525981 |
| **Media — 3.1%** | **Media — 3.1%** | **Media — 3.1%** |
| &nbsp;&nbsp;&nbsp;CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 02/01/2031\* | &nbsp;&nbsp; 925000 | &nbsp;&nbsp;&nbsp;&nbsp; 844897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 01/15/2034\* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 301578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 03/01/2030\* | &nbsp;&nbsp; 825000 | &nbsp;&nbsp;&nbsp;&nbsp; 783910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/01/2028\* | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 588769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 06/01/2029\* | &nbsp;&nbsp; 775000 | &nbsp;&nbsp;&nbsp;&nbsp; 761190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 05/01/2026\* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 349403 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC/Charter Communications Operating Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 04/01/2031 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2657724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 06/01/2052 | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp;&nbsp;&nbsp; 2254115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.48%, 10/23/2045 | &nbsp;&nbsp; 2365000 | &nbsp;&nbsp;&nbsp;&nbsp; 2301072 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 02/01/2030 | &nbsp;&nbsp; 8020000 | &nbsp;&nbsp;&nbsp;&nbsp; 7423991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 02/01/2027 | &nbsp;&nbsp; 4690000 | &nbsp;&nbsp;&nbsp;&nbsp; 4617617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/01/2049 | &nbsp;&nbsp; 3554000 | &nbsp;&nbsp;&nbsp;&nbsp; 2682032 |
| &nbsp;&nbsp;&nbsp;Cox Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35%, 09/15/2026\* | &nbsp;&nbsp; 3125000 | &nbsp;&nbsp;&nbsp;&nbsp; 3077687 |
| &nbsp;&nbsp;&nbsp;CSC Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 02/15/2031\* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 327044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 12/01/2030\* | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 537792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 02/01/2029\* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 375286 |
| &nbsp;&nbsp;&nbsp;DISH DBS Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 06/01/2029 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 352670 |
| &nbsp;&nbsp;&nbsp;Gray Television, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 11/15/2031\* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 129139 |
| &nbsp;&nbsp;&nbsp;Grupo Televisa SAB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 05/13/2045 | &nbsp;&nbsp; 835000 | &nbsp;&nbsp;&nbsp;&nbsp; 590414 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Federated Hermes Corporate Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| &nbsp;&nbsp;&nbsp;NBCUniversal Media LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 04/01/2041 | $2000000 | &nbsp;&nbsp;$2052475 |
| &nbsp;&nbsp;&nbsp;Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 08/15/2044 | &nbsp;&nbsp; 2550000 | &nbsp;&nbsp;&nbsp;&nbsp; 2001109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 05/19/2050 | &nbsp;&nbsp; 940000 | &nbsp;&nbsp;&nbsp;&nbsp; 725580 |
| &nbsp;&nbsp;&nbsp;Sinclair Television Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 03/01/2030\* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 227131 |
| &nbsp;&nbsp;&nbsp;Sirius XM Radio, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 09/01/2031\* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 308778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 07/01/2030\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 228058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 08/01/2027\* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 321465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 07/01/2029\* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 345650 |
| &nbsp;&nbsp;&nbsp;Sunrise FinCo I BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 07/15/2031\* | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1036860 |
| &nbsp;&nbsp;&nbsp;Telenet Finance Luxembourg Notes Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 03/01/2028\* | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 740505 |
| &nbsp;&nbsp;&nbsp;Time Warner Cable LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 09/15/2042 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 784854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 09/01/2041 | &nbsp;&nbsp; 3910000 | &nbsp;&nbsp;&nbsp;&nbsp; 3512461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 06/15/2039 | &nbsp;&nbsp; 690000 | &nbsp;&nbsp;&nbsp;&nbsp; 707186 |
| &nbsp;&nbsp;&nbsp;Univision Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 06/30/2030\* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 348078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 08/15/2028\* | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 667756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.38%, 08/01/2032\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103760 |
| &nbsp;&nbsp;&nbsp;Virgin Media Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/15/2030\* | &nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp; 518324 |
| &nbsp;&nbsp;&nbsp;Virgin Media Secured Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 08/15/2030\* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 441683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 05/15/2029\* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 464336 |
| &nbsp;&nbsp;&nbsp;Ziggo Bond Co. BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 02/28/2030\* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 392587 |
| &nbsp;&nbsp;&nbsp;Ziggo BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 01/15/2030\* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 415697 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47300663 |
| **Metal Fabricate/Hardware — 0.5%** | **Metal Fabricate/Hardware — 0.5%** | **Metal Fabricate/Hardware — 0.5%** |
| &nbsp;&nbsp;&nbsp;Valmont Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/01/2044 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 445438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 10/01/2054 | &nbsp;&nbsp; 3815000 | &nbsp;&nbsp;&nbsp;&nbsp; 3411270 |
| &nbsp;&nbsp;&nbsp;Worthington Enterprises, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 08/01/2032 | &nbsp;&nbsp; 3805000 | &nbsp;&nbsp;&nbsp;&nbsp; 3377535 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7234243 |
| **Mining — 0.4%** | **Mining — 0.4%** | **Mining — 0.4%** |
| &nbsp;&nbsp;&nbsp;Coeur Mining, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 02/15/2029\* | &nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp; 558075 |
| &nbsp;&nbsp;&nbsp;Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 09/23/2031\* | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3519846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.85%, 04/27/2031\* | &nbsp;&nbsp; 2790000 | &nbsp;&nbsp;&nbsp;&nbsp; 2510830 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6588751 |
| **Miscellaneous Manufacturing — 0.5%** | **Miscellaneous Manufacturing — 0.5%** | **Miscellaneous Manufacturing — 0.5%** |
| &nbsp;&nbsp;&nbsp;Enpro, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 06/01/2033\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100888 |
| &nbsp;&nbsp;&nbsp;Hillenbrand, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 02/15/2029 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 227880 |
| &nbsp;&nbsp;&nbsp;Maxam Prill SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 07/15/2030\* | &nbsp;&nbsp; 725000 | &nbsp;&nbsp;&nbsp;&nbsp; 708853 |
| &nbsp;&nbsp;&nbsp;Teledyne Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.60%, 04/01/2026 | &nbsp;&nbsp; 5750000 | &nbsp;&nbsp;&nbsp;&nbsp; 5632332 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Miscellaneous Manufacturing (continued)** | **Miscellaneous Manufacturing (continued)** | **Miscellaneous Manufacturing (continued)** |
| &nbsp;&nbsp;&nbsp;Textron, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 09/17/2029 | $1215000 | &nbsp;&nbsp;$1185472 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7855425 |
| **Office Furnishings — 0.1%** | **Office Furnishings — 0.1%** | **Office Furnishings — 0.1%** |
| &nbsp;&nbsp;&nbsp;Interface, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 12/01/2028\* | &nbsp;&nbsp; 950000 | &nbsp;&nbsp;&nbsp;&nbsp; 936335 |
| **Office/Business Equipment — 0.1%** | **Office/Business Equipment — 0.1%** | **Office/Business Equipment — 0.1%** |
| &nbsp;&nbsp;&nbsp;CDW LLC/CDW Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.67%, 12/01/2026 | &nbsp;&nbsp; 1510000 | &nbsp;&nbsp;&nbsp;&nbsp; 1470363 |
| &nbsp;&nbsp;&nbsp;Zebra Technologies Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 06/01/2032\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 256244 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1726607 |
| **Oil & Gas — 3.3%** | **Oil & Gas — 3.3%** | **Oil & Gas — 3.3%** |
| &nbsp;&nbsp;&nbsp;Aethon United BR LP/Aethon United Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 10/01/2029\* | &nbsp;&nbsp; 725000 | &nbsp;&nbsp;&nbsp;&nbsp; 759612 |
| &nbsp;&nbsp;&nbsp;Antero Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 03/01/2030\* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 223969 |
| &nbsp;&nbsp;&nbsp;APA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10%, 02/15/2035\* | &nbsp;&nbsp; 595000 | &nbsp;&nbsp;&nbsp;&nbsp; 582839 |
| &nbsp;&nbsp;&nbsp;Ascent Resources Utica Holdings LLC/ARU Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 06/30/2029\* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 473301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 10/15/2032\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 152581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 07/15/2033\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101385 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 08/10/2030 | &nbsp;&nbsp; 1485000 | &nbsp;&nbsp;&nbsp;&nbsp; 1304190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.94%, 06/04/2051 | &nbsp;&nbsp; 5325000 | &nbsp;&nbsp;&nbsp;&nbsp; 3303881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.12%, 05/04/2026 | &nbsp;&nbsp; 2810000 | &nbsp;&nbsp;&nbsp;&nbsp; 2784543 |
| &nbsp;&nbsp;&nbsp;Cenovus Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 02/15/2052 | &nbsp;&nbsp; 3780000 | &nbsp;&nbsp;&nbsp;&nbsp; 2559371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40%, 04/15/2029 | &nbsp;&nbsp; 2460000 | &nbsp;&nbsp;&nbsp;&nbsp; 2418944 |
| &nbsp;&nbsp;&nbsp;Chevron USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.02%, 08/12/2027 | &nbsp;&nbsp; 7370000 | &nbsp;&nbsp;&nbsp;&nbsp; 6933889 |
| &nbsp;&nbsp;&nbsp;Civitas Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.38%, 07/01/2028\* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 462747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.63%, 11/01/2030\* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 07/01/2031\* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.63%, 06/15/2033\* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 308574 |
| &nbsp;&nbsp;&nbsp;CNPC HK Overseas Capital, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 04/28/2041\* | &nbsp;&nbsp; 1550000 | &nbsp;&nbsp;&nbsp;&nbsp; 1683238 |
| &nbsp;&nbsp;&nbsp;CNX Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 03/01/2032\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 257752 |
| &nbsp;&nbsp;&nbsp;Comstock Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 03/01/2029\* | &nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 420197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 03/01/2029\* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 491137 |
| &nbsp;&nbsp;&nbsp;Coterra Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 03/15/2034 | &nbsp;&nbsp; 4630000 | &nbsp;&nbsp;&nbsp;&nbsp; 4654270 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 04/01/2035 | &nbsp;&nbsp; 2160000 | &nbsp;&nbsp;&nbsp;&nbsp; 2173724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 04/18/2054 | &nbsp;&nbsp; 2120000 | &nbsp;&nbsp;&nbsp;&nbsp; 1969035 |
| &nbsp;&nbsp;&nbsp;EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 04/01/2029\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 154434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 06/01/2027\* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 229013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 06/01/2030\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 164374 |
| &nbsp;&nbsp;&nbsp;Expand Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 03/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200211 |
| &nbsp;&nbsp;&nbsp;Hess Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 02/15/2041 | &nbsp;&nbsp; 4221000 | &nbsp;&nbsp;&nbsp;&nbsp; 4272210 |
| &nbsp;&nbsp;&nbsp;HF Sinclair Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/01/2028 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 349135 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Federated Hermes Corporate Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 04/01/2048 | $1725000 | &nbsp;&nbsp;$1338699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 03/01/2041 | &nbsp;&nbsp; 730000 | &nbsp;&nbsp;&nbsp;&nbsp; 761407 |
| &nbsp;&nbsp;&nbsp;Matador Resources Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 04/15/2033\* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 123836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 04/15/2032\* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 351033 |
| &nbsp;&nbsp;&nbsp;Nabors Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 05/15/2027\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 252313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.88%, 08/15/2031\* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 100222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.13%, 01/31/2030\* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 296921 |
| &nbsp;&nbsp;&nbsp;Permian Resources Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 01/15/2026\* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 374370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 02/01/2033\* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 226338 |
| &nbsp;&nbsp;&nbsp;Precision Drilling Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 01/15/2029\* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 74952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.13%, 01/15/2026\* | &nbsp;&nbsp; 179000 | &nbsp;&nbsp;&nbsp;&nbsp; 178803 |
| &nbsp;&nbsp;&nbsp;Range Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 01/15/2029 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 281966 |
| &nbsp;&nbsp;&nbsp;SM Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 09/15/2026 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 551231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 08/01/2029\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 150119 |
| &nbsp;&nbsp;&nbsp;TGNR Intermediate Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 10/15/2029\* | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 535765 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 12/01/2051 | &nbsp;&nbsp; 2925000 | &nbsp;&nbsp;&nbsp;&nbsp; 1956925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 04/01/2029 | &nbsp;&nbsp; 1535000 | &nbsp;&nbsp;&nbsp;&nbsp; 1505806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 03/15/2045 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 869839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 04/15/2032 | &nbsp;&nbsp; 1540000 | &nbsp;&nbsp;&nbsp;&nbsp; 1758015 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51178745 |
| **Oil & Gas Services — 0.2%** | **Oil & Gas Services — 0.2%** | **Oil & Gas Services — 0.2%** |
| &nbsp;&nbsp;&nbsp;Archrock Partners LP/Archrock Partners Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 04/01/2028\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 399977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 04/01/2027\* | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 700382 |
| &nbsp;&nbsp;&nbsp;Aris Water Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 04/01/2030\* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 487171 |
| &nbsp;&nbsp;&nbsp;Kodiak Gas Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 02/15/2029\* | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 716899 |
| &nbsp;&nbsp;&nbsp;USA Compression Partners LP/USA Compression Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 09/01/2027 | &nbsp;&nbsp; 975000 | &nbsp;&nbsp;&nbsp;&nbsp; 974765 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3279194 |
| **Packaging & Containers — 0.5%** | **Packaging & Containers — 0.5%** | **Packaging & Containers — 0.5%** |
| &nbsp;&nbsp;&nbsp;ARD Finance SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 06/30/2027\*(1) | &nbsp;&nbsp; 342156 | &nbsp;&nbsp;&nbsp;&nbsp; 23737 |
| &nbsp;&nbsp;&nbsp;Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 09/01/2029\* | &nbsp;&nbsp; 975000 | &nbsp;&nbsp;&nbsp;&nbsp; 888077 |
| &nbsp;&nbsp;&nbsp;Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 08/15/2027\* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 216000 |
| &nbsp;&nbsp;&nbsp;Ball Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 06/15/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 407112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 03/15/2028 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 178623 |
| &nbsp;&nbsp;&nbsp;Clearwater Paper Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 08/15/2028\* | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 659750 |
| &nbsp;&nbsp;&nbsp;Clydesdale Acquisition Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 04/15/2032\* | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1126741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 01/15/2030\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 255657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 04/15/2030\* | &nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp; 586832 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Packaging & Containers (continued)** | **Packaging & Containers (continued)** | **Packaging & Containers (continued)** |
| &nbsp;&nbsp;&nbsp;Crown Americas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 06/01/2033\* | $675000 | &nbsp;&nbsp;$676254 |
| &nbsp;&nbsp;&nbsp;Graphic Packaging International LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 07/15/2027\* | &nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 416857 |
| &nbsp;&nbsp;&nbsp;Mauser Packaging Solutions Holding Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 04/15/2027\* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 277400 |
| &nbsp;&nbsp;&nbsp;Owens-Brockway Glass Container, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 05/13/2027\* | &nbsp;&nbsp; 193000 | &nbsp;&nbsp;&nbsp;&nbsp; 193232 |
| &nbsp;&nbsp;&nbsp;Sealed Air Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 07/15/2032\* | &nbsp;&nbsp; 525000 | &nbsp;&nbsp;&nbsp;&nbsp; 540717 |
| &nbsp;&nbsp;&nbsp;Sealed Air Corp./Sealed Air Corp. US |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 02/01/2028\* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 277628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 02/15/2031\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 155911 |
| &nbsp;&nbsp;&nbsp;Trivium Packaging Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 07/15/2030\* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 342238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.25%, 01/15/2031\* | &nbsp;&nbsp; 775000 | &nbsp;&nbsp;&nbsp;&nbsp; 813747 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8036513 |
| **Pharmaceuticals — 4.3%** | **Pharmaceuticals — 4.3%** | **Pharmaceuticals — 4.3%** |
| &nbsp;&nbsp;&nbsp;1261229 BC, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.00%, 04/15/2032\* | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1119898 |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 11/21/2026 | &nbsp;&nbsp; 5950000 | &nbsp;&nbsp;&nbsp;&nbsp; 5845421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 11/21/2029 | &nbsp;&nbsp; 6575000 | &nbsp;&nbsp;&nbsp;&nbsp; 6268056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 03/15/2027 | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp;&nbsp;&nbsp; 1056917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 03/15/2029 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 507928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 03/15/2031 | &nbsp;&nbsp; 1540000 | &nbsp;&nbsp;&nbsp;&nbsp; 1571385 |
| &nbsp;&nbsp;&nbsp;Amneal Pharmaceuticals LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 08/01/2032\* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 76124 |
| &nbsp;&nbsp;&nbsp;AstraZeneca PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13%, 08/06/2050 | &nbsp;&nbsp; 4970000 | &nbsp;&nbsp;&nbsp;&nbsp; 2746701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 06/12/2027 | &nbsp;&nbsp; 3085000 | &nbsp;&nbsp;&nbsp;&nbsp; 3027446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 11/16/2025 | &nbsp;&nbsp; 6065000 | &nbsp;&nbsp;&nbsp;&nbsp; 6042865 |
| &nbsp;&nbsp;&nbsp;Bausch Health Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 06/01/2028\* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 331875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 01/30/2030\* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 144713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 02/15/2029\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 145000 |
| &nbsp;&nbsp;&nbsp;Bayer US Finance II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 12/15/2025\* | &nbsp;&nbsp; 910000 | &nbsp;&nbsp;&nbsp;&nbsp; 907679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 06/25/2048\* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 823069 |
| &nbsp;&nbsp;&nbsp;Becton Dickinson & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 06/06/2027 | &nbsp;&nbsp; 3025000 | &nbsp;&nbsp;&nbsp;&nbsp; 2987719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.69%, 12/15/2044 | &nbsp;&nbsp; 3088000 | &nbsp;&nbsp;&nbsp;&nbsp; 2687479 |
| &nbsp;&nbsp;&nbsp;BellRing Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 03/15/2030\* | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 622449 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 07/26/2029 | &nbsp;&nbsp; 6250000 | &nbsp;&nbsp;&nbsp;&nbsp; 6030690 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.78%, 03/25/2038 | &nbsp;&nbsp; 3130000 | &nbsp;&nbsp;&nbsp;&nbsp; 2860145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 03/25/2048 | &nbsp;&nbsp; 2740000 | &nbsp;&nbsp;&nbsp;&nbsp; 2357595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 07/20/2045 | &nbsp;&nbsp; 1265000 | &nbsp;&nbsp;&nbsp;&nbsp; 1109994 |
| &nbsp;&nbsp;&nbsp;CVS Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 01/11/2027\* | &nbsp;&nbsp; 69944 | &nbsp;&nbsp;&nbsp;&nbsp; 69666 |
| &nbsp;&nbsp;&nbsp;Grifols SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 10/15/2028\* | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1059639 |
| &nbsp;&nbsp;&nbsp;Jazz Securities DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 01/15/2029\* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 338582 |
| &nbsp;&nbsp;&nbsp;Merck & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.70%, 06/10/2027 | &nbsp;&nbsp; 7325000 | &nbsp;&nbsp;&nbsp;&nbsp; 7004155 |
| &nbsp;&nbsp;&nbsp;Organon & Co./Organon Foreign Debt Co.-Issuer BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 04/30/2031\* | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 475814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 05/15/2034\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 188596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 05/15/2034\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 179064 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Federated Hermes Corporate Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| &nbsp;&nbsp;&nbsp;Pfizer Investment Enterprises Pte., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 05/19/2053 | $7000000 | &nbsp;&nbsp;$6536295 |
| &nbsp;&nbsp;&nbsp;Takeda Pharmaceutical Co., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.05%, 03/31/2030 | &nbsp;&nbsp; 1660000 | &nbsp;&nbsp;&nbsp;&nbsp; 1483417 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66606376 |
| **Pipelines — 3.3%** | **Pipelines — 3.3%** | **Pipelines — 3.3%** |
| &nbsp;&nbsp;&nbsp;Antero Midstream Partners LP/Antero Midstream Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 06/15/2029\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 396637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 03/01/2027\* | &nbsp;&nbsp; 825000 | &nbsp;&nbsp;&nbsp;&nbsp; 825348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 02/01/2032\* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 462582 |
| &nbsp;&nbsp;&nbsp;Blue Racer Midstream LLC/Blue Racer Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 07/15/2029\* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 492575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 07/15/2032\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 105430 |
| &nbsp;&nbsp;&nbsp;Boardwalk Pipelines LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 02/15/2031 | &nbsp;&nbsp; 1915000 | &nbsp;&nbsp;&nbsp;&nbsp; 1769024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 09/01/2032 | &nbsp;&nbsp; 2970000 | &nbsp;&nbsp;&nbsp;&nbsp; 2691573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 05/03/2029 | &nbsp;&nbsp; 980000 | &nbsp;&nbsp;&nbsp;&nbsp; 987212 |
| &nbsp;&nbsp;&nbsp;Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 10/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197830 |
| &nbsp;&nbsp;&nbsp;CNX Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 04/15/2030\* | &nbsp;&nbsp; 950000 | &nbsp;&nbsp;&nbsp;&nbsp; 897426 |
| &nbsp;&nbsp;&nbsp;Columbia Pipeline Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 06/01/2045 | &nbsp;&nbsp; 1260000 | &nbsp;&nbsp;&nbsp;&nbsp; 1221566 |
| &nbsp;&nbsp;&nbsp;DT Midstream, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 06/15/2031\* | &nbsp;&nbsp; 675000 | &nbsp;&nbsp;&nbsp;&nbsp; 642466 |
| &nbsp;&nbsp;&nbsp;Eastern Gas Transmission & Storage, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 11/15/2029 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1131350 |
| &nbsp;&nbsp;&nbsp;Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 06/20/2035 | &nbsp;&nbsp; 3335000 | &nbsp;&nbsp;&nbsp;&nbsp; 3366632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 04/05/2034 | &nbsp;&nbsp; 3315000 | &nbsp;&nbsp;&nbsp;&nbsp; 3392325 |
| &nbsp;&nbsp;&nbsp;Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 03/15/2045 | &nbsp;&nbsp; 3513000 | &nbsp;&nbsp;&nbsp;&nbsp; 3075802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 05/15/2034 | &nbsp;&nbsp; 1450000 | &nbsp;&nbsp;&nbsp;&nbsp; 1462568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 05/15/2054 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1417838 |
| &nbsp;&nbsp;&nbsp;Hess Midstream Operations LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 06/15/2028\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 397939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 03/01/2028\* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 228704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 06/01/2029\* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 180268 |
| &nbsp;&nbsp;&nbsp;MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 03/15/2028 | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp; 838407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 04/15/2038 | &nbsp;&nbsp; 3150000 | &nbsp;&nbsp;&nbsp;&nbsp; 2780776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 03/01/2047 | &nbsp;&nbsp; 2750000 | &nbsp;&nbsp;&nbsp;&nbsp; 2384640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 12/01/2047 | &nbsp;&nbsp; 2740000 | &nbsp;&nbsp;&nbsp;&nbsp; 2375096 |
| &nbsp;&nbsp;&nbsp;Northriver Midstream Finance LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 07/15/2032\* | &nbsp;&nbsp; 725000 | &nbsp;&nbsp;&nbsp;&nbsp; 738138 |
| &nbsp;&nbsp;&nbsp;ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 07/13/2047 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2512691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 07/15/2048 | &nbsp;&nbsp; 2825000 | &nbsp;&nbsp;&nbsp;&nbsp; 2442367 |
| &nbsp;&nbsp;&nbsp;Rockies Express Pipeline LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 03/15/2033\* | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 675221 |
| &nbsp;&nbsp;&nbsp;Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 02/01/2033 | &nbsp;&nbsp; 2825000 | &nbsp;&nbsp;&nbsp;&nbsp; 2641129 |
| &nbsp;&nbsp;&nbsp;TC PipeLines LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 05/25/2027 | &nbsp;&nbsp; 1270000 | &nbsp;&nbsp;&nbsp;&nbsp; 1255813 |
| &nbsp;&nbsp;&nbsp;Venture Global Plaquemines LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 01/15/2034\* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 385782 |
| &nbsp;&nbsp;&nbsp;Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 02/01/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96045 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| &nbsp;&nbsp;&nbsp;Williams Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 01/15/2045 | $3460000 | &nbsp;&nbsp;$3038735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 09/30/2035 | &nbsp;&nbsp; 2975000 | &nbsp;&nbsp;&nbsp;&nbsp; 2962196 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50470131 |
| **REITS — 2.3%** | **REITS — 2.3%** | **REITS — 2.3%** |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.88%, 02/01/2033 | &nbsp;&nbsp; 1745000 | &nbsp;&nbsp;&nbsp;&nbsp; 1403126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 01/15/2028 | &nbsp;&nbsp; 2110000 | &nbsp;&nbsp;&nbsp;&nbsp; 2079977 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 02/15/2034 | &nbsp;&nbsp; 3300000 | &nbsp;&nbsp;&nbsp;&nbsp; 3379023 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35%, 05/15/2027 | &nbsp;&nbsp; 2745000 | &nbsp;&nbsp;&nbsp;&nbsp; 2697692 |
| &nbsp;&nbsp;&nbsp;Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 07/15/2031 | &nbsp;&nbsp; 1775000 | &nbsp;&nbsp;&nbsp;&nbsp; 1552801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 01/15/2051 | &nbsp;&nbsp; 3185000 | &nbsp;&nbsp;&nbsp;&nbsp; 2088830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 02/15/2028 | &nbsp;&nbsp; 3560000 | &nbsp;&nbsp;&nbsp;&nbsp; 3489446 |
| &nbsp;&nbsp;&nbsp;DOC DR LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 03/15/2027 | &nbsp;&nbsp; 1590000 | &nbsp;&nbsp;&nbsp;&nbsp; 1582430 |
| &nbsp;&nbsp;&nbsp;Healthcare Realty Holdings LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 03/15/2031 | &nbsp;&nbsp; 1905000 | &nbsp;&nbsp;&nbsp;&nbsp; 1625522 |
| &nbsp;&nbsp;&nbsp;Iron Mountain, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 01/15/2033\* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 177989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 02/15/2029\* | &nbsp;&nbsp; 975000 | &nbsp;&nbsp;&nbsp;&nbsp; 1001594 |
| &nbsp;&nbsp;&nbsp;RHP Hotel Properties LP/RHP Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 04/01/2032\* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 357404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 06/15/2033\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 07/15/2028\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206247 |
| &nbsp;&nbsp;&nbsp;Tanger Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 09/01/2026 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp;&nbsp;&nbsp; 2551297 |
| &nbsp;&nbsp;&nbsp;UDR, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 09/01/2026 | &nbsp;&nbsp; 2180000 | &nbsp;&nbsp;&nbsp;&nbsp; 2142795 |
| &nbsp;&nbsp;&nbsp;Welltower OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 01/15/2032 | &nbsp;&nbsp; 5300000 | &nbsp;&nbsp;&nbsp;&nbsp; 4720635 |
| &nbsp;&nbsp;&nbsp;WP Carey, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.40%, 02/01/2031 | &nbsp;&nbsp; 1975000 | &nbsp;&nbsp;&nbsp;&nbsp; 1740057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 07/15/2030 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1987956 |
| &nbsp;&nbsp;&nbsp;XHR LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 05/15/2030\* | &nbsp;&nbsp; 675000 | &nbsp;&nbsp;&nbsp;&nbsp; 686054 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35573283 |
| **Retail — 2.5%** | **Retail — 2.5%** | **Retail — 2.5%** |
| &nbsp;&nbsp;&nbsp;1011778 BC ULC/New Red Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 10/15/2030\* | &nbsp;&nbsp; 1125000 | &nbsp;&nbsp;&nbsp;&nbsp; 1042326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 01/15/2028\* | &nbsp;&nbsp; 825000 | &nbsp;&nbsp;&nbsp;&nbsp; 806180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 09/15/2029\* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 176044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 06/15/2029\* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 127759 |
| &nbsp;&nbsp;&nbsp;Academy, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 11/15/2027\* | &nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp; 573784 |
| &nbsp;&nbsp;&nbsp;Advance Auto Parts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 10/01/2027 | &nbsp;&nbsp; 1845000 | &nbsp;&nbsp;&nbsp;&nbsp; 1698567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 04/15/2030 | &nbsp;&nbsp; 2450000 | &nbsp;&nbsp;&nbsp;&nbsp; 2221616 |
| &nbsp;&nbsp;&nbsp;Asbury Automotive Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 11/15/2029\* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 360321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 03/01/2030 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 120053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/15/2032\* | &nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 307418 |
| &nbsp;&nbsp;&nbsp;AutoZone, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 07/15/2034 | &nbsp;&nbsp; 4685000 | &nbsp;&nbsp;&nbsp;&nbsp; 4785734 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.60%, 04/20/2030 | &nbsp;&nbsp; 9600000 | &nbsp;&nbsp;&nbsp;&nbsp; 8533682 |
| &nbsp;&nbsp;&nbsp;Foundation Building Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 03/01/2029\* | &nbsp;&nbsp; 775000 | &nbsp;&nbsp;&nbsp;&nbsp; 726862 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Federated Hermes Corporate Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| &nbsp;&nbsp;&nbsp;Gap, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 10/01/2029\* | $400000 | &nbsp;&nbsp;$369121 |
| &nbsp;&nbsp;&nbsp;Group 1 Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 01/15/2030\* | &nbsp;&nbsp; 725000 | &nbsp;&nbsp;&nbsp;&nbsp; 738459 |
| &nbsp;&nbsp;&nbsp;GYP Holdings III Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 05/01/2029\* | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp; 858101 |
| &nbsp;&nbsp;&nbsp;Home Depot, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 04/01/2026 | &nbsp;&nbsp; 3075000 | &nbsp;&nbsp;&nbsp;&nbsp; 3048027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 04/15/2032 | &nbsp;&nbsp; 3075000 | &nbsp;&nbsp;&nbsp;&nbsp; 2836922 |
| &nbsp;&nbsp;&nbsp;KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 06/01/2027\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 248758 |
| &nbsp;&nbsp;&nbsp;LCM Investments Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 08/01/2031\* | &nbsp;&nbsp; 925000 | &nbsp;&nbsp;&nbsp;&nbsp; 978021 |
| &nbsp;&nbsp;&nbsp;Patrick Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 11/01/2032\* | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 900600 |
| &nbsp;&nbsp;&nbsp;QXO Building Products, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 04/30/2032\* | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 669353 |
| &nbsp;&nbsp;&nbsp;Sally Holdings LLC/Sally Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 03/01/2032 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 615800 |
| &nbsp;&nbsp;&nbsp;Suburban Propane Partners LP/Suburban Energy Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 06/01/2031\* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 258272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 03/01/2027 | &nbsp;&nbsp; 625000 | &nbsp;&nbsp;&nbsp;&nbsp; 622854 |
| &nbsp;&nbsp;&nbsp;Tractor Supply Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 11/01/2030 | &nbsp;&nbsp; 3300000 | &nbsp;&nbsp;&nbsp;&nbsp; 2854088 |
| &nbsp;&nbsp;&nbsp;White Cap Buyer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 10/15/2028\* | &nbsp;&nbsp; 1175000 | &nbsp;&nbsp;&nbsp;&nbsp; 1171822 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37650544 |
| **Semiconductors — 2.3%** | **Semiconductors — 2.3%** | **Semiconductors — 2.3%** |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.14%, 11/15/2035\* | &nbsp;&nbsp; 3440000 | &nbsp;&nbsp;&nbsp;&nbsp; 2887443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.42%, 04/15/2033\* | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2713849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 02/15/2051\* | &nbsp;&nbsp; 960000 | &nbsp;&nbsp;&nbsp;&nbsp; 718101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 07/15/2035 | &nbsp;&nbsp; 1690000 | &nbsp;&nbsp;&nbsp;&nbsp; 1697997 |
| &nbsp;&nbsp;&nbsp;Entegris, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 04/15/2029\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 244884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 06/15/2030\* | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 807167 |
| &nbsp;&nbsp;&nbsp;Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 02/21/2034 | &nbsp;&nbsp; 2090000 | &nbsp;&nbsp;&nbsp;&nbsp; 2067278 |
| &nbsp;&nbsp;&nbsp;KLA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 07/15/2032 | &nbsp;&nbsp; 4190000 | &nbsp;&nbsp;&nbsp;&nbsp; 4196588 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 03/15/2026 | &nbsp;&nbsp; 2235000 | &nbsp;&nbsp;&nbsp;&nbsp; 2224932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 03/15/2029 | &nbsp;&nbsp; 3790000 | &nbsp;&nbsp;&nbsp;&nbsp; 3754438 |
| &nbsp;&nbsp;&nbsp;Microchip Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 03/15/2029 | &nbsp;&nbsp; 1570000 | &nbsp;&nbsp;&nbsp;&nbsp; 1587736 |
| &nbsp;&nbsp;&nbsp;Micron Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 04/15/2032 | &nbsp;&nbsp; 3175000 | &nbsp;&nbsp;&nbsp;&nbsp; 2753023 |
| &nbsp;&nbsp;&nbsp;QUALCOMM, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.65%, 05/20/2032 | &nbsp;&nbsp; 3940000 | &nbsp;&nbsp;&nbsp;&nbsp; 3275645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 05/20/2027 | &nbsp;&nbsp; 6589000 | &nbsp;&nbsp;&nbsp;&nbsp; 6489152 |
| &nbsp;&nbsp;&nbsp;Synaptics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 06/15/2029\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 377634 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35795867 |
| **Shipbuilding — 0.2%** | **Shipbuilding — 0.2%** | **Shipbuilding — 0.2%** |
| &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.48%, 12/01/2027 | &nbsp;&nbsp; 2470000 | &nbsp;&nbsp;&nbsp;&nbsp; 2404802 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Software — 3.5%** | **Software — 3.5%** | **Software — 3.5%** |
| &nbsp;&nbsp;&nbsp;Adobe, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15%, 02/01/2027 | $1275000 | &nbsp;&nbsp;$1238069 |
| &nbsp;&nbsp;&nbsp;AppLovin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 12/01/2034 | &nbsp;&nbsp; 2050000 | &nbsp;&nbsp;&nbsp;&nbsp; 2073530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 12/01/2054 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp;&nbsp;&nbsp; 2046163 |
| &nbsp;&nbsp;&nbsp;AthenaHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 02/15/2030\* | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1081357 |
| &nbsp;&nbsp;&nbsp;Capstone Borrower, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 06/15/2030\* | &nbsp;&nbsp; 925000 | &nbsp;&nbsp;&nbsp;&nbsp; 961279 |
| &nbsp;&nbsp;&nbsp;Cloud Software Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 03/31/2029\* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 479695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 06/30/2032\* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 186345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 09/30/2029\* | &nbsp;&nbsp; 1450000 | &nbsp;&nbsp;&nbsp;&nbsp; 1500548 |
| &nbsp;&nbsp;&nbsp;Consensus Cloud Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 10/15/2026\* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 372211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 10/15/2028\* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 447516 |
| &nbsp;&nbsp;&nbsp;CoreWeave, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 02/01/2031\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.25%, 06/01/2030\* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 502525 |
| &nbsp;&nbsp;&nbsp;Dun & Bradstreet Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 12/15/2029\* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 460299 |
| &nbsp;&nbsp;&nbsp;Elastic NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 07/15/2029\* | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 713305 |
| &nbsp;&nbsp;&nbsp;Ellucian Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 12/01/2029\* | &nbsp;&nbsp; 525000 | &nbsp;&nbsp;&nbsp;&nbsp; 531833 |
| &nbsp;&nbsp;&nbsp;Fair Isaac Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 05/15/2033\* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 226057 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.68%, 06/01/2060 | &nbsp;&nbsp; 8870000 | &nbsp;&nbsp;&nbsp;&nbsp; 5162938 |
| &nbsp;&nbsp;&nbsp;Open Text Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 02/15/2028\* | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 529380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.90%, 12/01/2027\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206503 |
| &nbsp;&nbsp;&nbsp;Open Text Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 02/15/2030\* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 23433 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 04/01/2050 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp;&nbsp;&nbsp; 2952680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 03/25/2051 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2179306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.15%, 11/09/2029 | &nbsp;&nbsp; 2130000 | &nbsp;&nbsp;&nbsp;&nbsp; 2258781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 11/09/2032 | &nbsp;&nbsp; 2850000 | &nbsp;&nbsp;&nbsp;&nbsp; 3067876 |
| &nbsp;&nbsp;&nbsp;Rocket Software, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 02/15/2029\* | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1069543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 11/28/2028\* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 128994 |
| &nbsp;&nbsp;&nbsp;Roper Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 09/15/2029 | &nbsp;&nbsp; 1230000 | &nbsp;&nbsp;&nbsp;&nbsp; 1157219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 12/15/2026 | &nbsp;&nbsp; 1225000 | &nbsp;&nbsp;&nbsp;&nbsp; 1213796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 12/15/2025 | &nbsp;&nbsp; 3510000 | &nbsp;&nbsp;&nbsp;&nbsp; 3500591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 09/15/2028 | &nbsp;&nbsp; 955000 | &nbsp;&nbsp;&nbsp;&nbsp; 947504 |
| &nbsp;&nbsp;&nbsp;Salesforce, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 07/15/2028 | &nbsp;&nbsp; 172000 | &nbsp;&nbsp;&nbsp;&nbsp; 159896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.95%, 07/15/2031 | &nbsp;&nbsp; 9500000 | &nbsp;&nbsp;&nbsp;&nbsp; 8300663 |
| &nbsp;&nbsp;&nbsp;SS&C Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 09/30/2027\* | &nbsp;&nbsp; 775000 | &nbsp;&nbsp;&nbsp;&nbsp; 775169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 06/01/2032\* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 231354 |
| &nbsp;&nbsp;&nbsp;UKG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 02/01/2031\* | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1129332 |
| &nbsp;&nbsp;&nbsp;VMware LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20%, 08/15/2031 | &nbsp;&nbsp; 5885000 | &nbsp;&nbsp;&nbsp;&nbsp; 5095054 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53010318 |
| **Telecommunications — 5.1%** | **Telecommunications — 5.1%** | **Telecommunications — 5.1%** |
| &nbsp;&nbsp;&nbsp;America Movil SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/20/2033 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4478895 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Federated Hermes Corporate Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.70%, 03/25/2026 | $4500000 | &nbsp;&nbsp;$4418339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 02/01/2032 | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp;&nbsp;&nbsp; 1973901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55%, 12/01/2033 | &nbsp;&nbsp; 6999000 | &nbsp;&nbsp;&nbsp;&nbsp; 5835648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 02/01/2052 | &nbsp;&nbsp; 6265000 | &nbsp;&nbsp;&nbsp;&nbsp; 4087860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 06/01/2041 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp;&nbsp;&nbsp; 2502495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 02/01/2061 | &nbsp;&nbsp; 1673000 | &nbsp;&nbsp;&nbsp;&nbsp; 1068422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 12/01/2057 | &nbsp;&nbsp; 4261000 | &nbsp;&nbsp;&nbsp;&nbsp; 2959972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 06/01/2060 | &nbsp;&nbsp; 2125000 | &nbsp;&nbsp;&nbsp;&nbsp; 1468614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 03/15/2042 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1402055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 08/15/2058 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp;&nbsp;&nbsp; 1615319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 03/01/2041 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3724149 |
| &nbsp;&nbsp;&nbsp;Corning, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 03/15/2042 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 986940 |
| &nbsp;&nbsp;&nbsp;Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 03/15/2052 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2027918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 02/15/2034 | &nbsp;&nbsp; 3175000 | &nbsp;&nbsp;&nbsp;&nbsp; 3178058 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 11/15/2031 | &nbsp;&nbsp; 3010000 | &nbsp;&nbsp;&nbsp;&nbsp; 2597322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 10/15/2052 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5336176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 04/15/2034 | &nbsp;&nbsp; 3835000 | &nbsp;&nbsp;&nbsp;&nbsp; 3858340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 01/15/2055 | &nbsp;&nbsp; 2050000 | &nbsp;&nbsp;&nbsp;&nbsp; 1932604 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55%, 03/21/2031 | &nbsp;&nbsp; 3570000 | &nbsp;&nbsp;&nbsp;&nbsp; 3197429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 03/22/2041 | &nbsp;&nbsp; 6165000 | &nbsp;&nbsp;&nbsp;&nbsp; 4753247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 08/15/2046 | &nbsp;&nbsp; 5545000 | &nbsp;&nbsp;&nbsp;&nbsp; 4425102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 08/10/2033 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2901465 |
| &nbsp;&nbsp;&nbsp;Viavi Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 10/01/2029\* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 346798 |
| &nbsp;&nbsp;&nbsp;Vmed O2 UK Financing I PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 01/31/2031\* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 205005 |
| &nbsp;&nbsp;&nbsp;Vodafone Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 06/28/2054 | &nbsp;&nbsp; 6775000 | &nbsp;&nbsp;&nbsp;&nbsp; 6470435 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77752508 |
| **Transportation — 1.8%** | **Transportation — 1.8%** | **Transportation — 1.8%** |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 05/01/2040 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp;&nbsp;&nbsp; 2280898 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 12/02/2041 | &nbsp;&nbsp; 1410000 | &nbsp;&nbsp;&nbsp;&nbsp; 1022232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 05/01/2048 | &nbsp;&nbsp; 2710000 | &nbsp;&nbsp;&nbsp;&nbsp; 2378694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.13%, 10/15/2031 | &nbsp;&nbsp; 2950000 | &nbsp;&nbsp;&nbsp;&nbsp; 3320103 |
| &nbsp;&nbsp;&nbsp;FedEx Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 08/05/2029\* | &nbsp;&nbsp; 1220000 | &nbsp;&nbsp;&nbsp;&nbsp; 1151330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 02/15/2048\* | &nbsp;&nbsp; 1320000 | &nbsp;&nbsp;&nbsp;&nbsp; 971691 |
| &nbsp;&nbsp;&nbsp;Ryder System, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 12/01/2026 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2932565 |
| &nbsp;&nbsp;&nbsp;Union Pacific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 02/14/2032 | &nbsp;&nbsp; 7275000 | &nbsp;&nbsp;&nbsp;&nbsp; 6539822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.97%, 09/16/2062 | &nbsp;&nbsp; 3025000 | &nbsp;&nbsp;&nbsp;&nbsp; 1746626 |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.05%, 11/15/2027 | &nbsp;&nbsp; 4700000 | &nbsp;&nbsp;&nbsp;&nbsp; 4577729 |
| &nbsp;&nbsp;&nbsp;Watco Cos. LLC/Watco Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.13%, 08/01/2032\* | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 726219 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27647909 |
| **Total Corporate Bonds & Notes<br> (cost $1,451,701,480)** |  | &nbsp;&nbsp;&nbsp;&nbsp;1369156719 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 4.5%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 4.5%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 4.5%** |
| **U.S. Government — 4.5%** | **U.S. Government — 4.5%** | **U.S. Government — 4.5%** |
| &nbsp;&nbsp;&nbsp;United States Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 08/15/2054 | &nbsp;&nbsp;18900000 | &nbsp;&nbsp;&nbsp;&nbsp; 16998188 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. Government (continued)** | **U.S. Government (continued)** |  |
| &nbsp;&nbsp;&nbsp;United States Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 08/15/2034 | $22525000 | &nbsp;&nbsp;$21791178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 02/15/2035 | &nbsp;&nbsp;30000000 | &nbsp;&nbsp;&nbsp;&nbsp; 30651562 |
| **Total U.S. Government & Agency Obligations<br> (cost $72,813,527)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69440928 |
| **COMMON STOCKS — 0.0%** | **COMMON STOCKS — 0.0%** |  |
| **Media — 0.0%** | **Media — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;Audacy, Inc., Class A†(2)(3)<br> (cost $628,458) | &nbsp;&nbsp; 934 | &nbsp;&nbsp;&nbsp;&nbsp; 18671 |
| **ESCROWS AND LITIGATION TRUSTS — 0.0%** | **ESCROWS AND LITIGATION TRUSTS — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;Chesapeake Energy Corp.<br> 7.00% † | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 2080 |
| &nbsp;&nbsp;&nbsp;Lehman Brothers Holdings, Inc.<br> Class D<br> 5.67% †(2) | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 300 |
| **Total Escrows and Litigation Trusts<br> (cost $1,211,640)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2380 |
| **WARRANTS — 0.0%** | **WARRANTS — 0.0%** |  |
| **Media — 0.0%** | **Media — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;Audacy, Inc.<br> Expires 09/30/2028†(2)(3) | &nbsp;&nbsp; 189 | &nbsp;&nbsp;&nbsp;&nbsp; 2 |
| &nbsp;&nbsp;&nbsp;Audacy, Inc. (Black-Scholes Protection)<br> Expires 09/30/2028†(2)(3) | &nbsp;&nbsp; 1132 | &nbsp;&nbsp;&nbsp;&nbsp; 11 |
| **Total Warrants<br> (cost $377)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 |
| **Total Long-Term Investment Securities<br> (cost $1,526,355,482)** |  | &nbsp;&nbsp;&nbsp;&nbsp;1438618711 |
| **SHORT-TERM INVESTMENTS — 5.1%** | **SHORT-TERM INVESTMENTS — 5.1%** |  |
| **Unaffiliated Investment Companies — 5.1%** | **Unaffiliated Investment Companies — 5.1%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional US Government Money Market Fund, Investor Class<br> 4.17%(4)<br> (cost $78,766,004) | &nbsp;&nbsp;78766004 | &nbsp;&nbsp;&nbsp;&nbsp; 78766004 |
| **TOTAL INVESTMENTS<br> (cost $1,605,121,486)(5)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.0% | &nbsp;&nbsp;&nbsp;&nbsp;1517384715 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15219550 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$1532604265 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The SA Federated Hermes Corporate Bond Portfolio has no right to demand registration of these securities. At July 31, 2025, the aggregate value of these securities was $264,642,190 representing 17.3% of net assets. |
| † | &nbsp;&nbsp;Non-income producing security |
| (1) | &nbsp;&nbsp;PIK ("Payment-in-Kind") security -- Income may be paid in additional securities or cash at the discretion of the issuer. The security is currently paying interest in cash at the coupon rate listed. |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Federated Hermes Corporate Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

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

(3) Denotes a restricted security that: (a) cannot be offered for public sale without first being registered, or being able to take advantage of an exemption from
registration, under the Securities Act of 1933, as amended (the "1933 Act"); (b) is subject to a contractual restriction on public sales; or (c) is otherwise subject to a restriction on sales by operation
of applicable law. Restricted securities are valued pursuant to Note 2. Certain restricted securities held by the Portfolio may not be sold except in exempt transactions or in a public offering registered
under the 1933 Act. The Portfolio has no right to demand registration of these securities. The risk of investing in certain restricted securities is greater than the risk of investing in the securities of widely held,
publicly traded companies. To the extent applicable, lack of a secondary market and resale restrictions may result in the inability of a Portfolio to sell a security at a fair price and may substantially delay the
sale of the security. In addition, certain restricted securities may exhibit greater price volatility than securities for which secondary markets exist. As of July 31, 2025, the Portfolio held the following restricted
securities:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition<br> Date** | **Shares or<br> Principal<br> Amount** | **Acquisition<br> Cost** | **Value** | **Value<br> Per Share** | **% of<br> Net Assets** |
| **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** |
| Audacy, Inc., Class A |  |  |  |  |  |  |
|  | 10/24/2019 | &nbsp;&nbsp;&nbsp;&nbsp;75 | $50433 |  |  |  |
|  | 12/10/2019 | &nbsp;&nbsp;&nbsp;112 | &nbsp;&nbsp;75650 |  |  |  |
|  | 03/10/2021 | &nbsp;&nbsp;&nbsp;336 | 224993 |  |  |  |
|  | 04/28/2021 | &nbsp;&nbsp;&nbsp;262 | 176516 |  |  |  |
|  | 05/27/2021 | &nbsp;&nbsp;&nbsp;149 | 100866 |  |  |  |
|  |  | &nbsp;&nbsp;&nbsp;934 | 628458 | $18671 | $19.99 | 0.0% |
| **<u>Warrants</u>** | **<u>Warrants</u>** | **<u>Warrants</u>** | **<u>Warrants</u>** | **<u>Warrants</u>** | **<u>Warrants</u>** | **<u>Warrants</u>** |
| Audacy, Inc. |  |  |  |  |  |  |
|  | 10/24/2019 | &nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 |  |  |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition<br> Date** | **Shares or<br> Principal<br> Amount** | **Acquisition<br> Cost** | **Value** | **Value<br> Per Share** | **% of<br> Net Assets** |
| **<u>Warrants (continued)</u>** | **<u>Warrants (continued)</u>** | **<u>Warrants (continued)</u>** | **<u>Warrants (continued)</u>** | **<u>Warrants (continued)</u>** | **<u>Warrants (continued)</u>** | **<u>Warrants (continued)</u>** |
|  | 12/10/2019 | &nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8 |  |  |  |
|  | 03/10/2021 | &nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 |  |  |  |
|  | 04/28/2021 | &nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 |  |  |  |
|  | 05/27/2021 | &nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 |  |  |  |
|  |  | &nbsp;&nbsp;&nbsp;189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63 | $2 | $0.01 | 0.0% |
| Audacy, Inc. (Black-Scholes Protection) |  |  |  |  |  |  |
|  | 10/24/2019 | &nbsp;&nbsp;&nbsp;&nbsp;91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 |  |  |  |
|  | 12/10/2019 | &nbsp;&nbsp;&nbsp;136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 |  |  |  |
|  | 03/10/2021 | &nbsp;&nbsp;&nbsp;407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113 |  |  |  |
|  | 04/28/2021 | &nbsp;&nbsp;&nbsp;317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88 |  |  |  |
|  | 05/27/2021 | &nbsp;&nbsp;&nbsp;181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 |  |  |  |
|  |  | 1132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;0.01 | 0.0 |
|  |  |  |  | $18684 |  | 0.0%\*\* |

---

\*\* Amount represents the total value of the restricted securities divided by the net assets of the Portfolio and may not equal the sum of the individual percentages shown due to rounding.

(4) The rate shown is the 7-day yield as of July 31, 2025.

(5) See Note 4 for cost of investments on a tax basis.

DAC—Designated Activity Company

#### Futures Contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number<br> of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Expiration<br> Month** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Basis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Value\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation** |
| 70 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury Long Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$7790299 | &nbsp;&nbsp;&nbsp;&nbsp;$7993125 | &nbsp;&nbsp;&nbsp;&nbsp;$202826 |
| 125 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra 10 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14121321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14134765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13444 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$216270 |

---

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

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1369156719 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1369156719 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69440928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69440928 |
| Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;18671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18671 |
| Escrows and Litigation Trusts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2380 |
| Warrants | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;78766004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78766004 |
| **Total Investments at Value** | &nbsp;&nbsp;$78766004 | &nbsp;&nbsp;$1438599727 | &nbsp;&nbsp;$18984 | &nbsp;&nbsp;$1517384715 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;$216270 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$216270 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | &nbsp;&nbsp;Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

Level 3 investments in securities were not considered a significant portion of the Portfolio's net assets.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fidelity Institutional AM® Global Equities Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 95.5%** | **COMMON STOCKS — 95.5%** | **COMMON STOCKS — 95.5%** |
| **Australia — 1.3%** | **Australia — 1.3%** | **Australia — 1.3%** |
| &nbsp;&nbsp;&nbsp;Aristocrat Leisure, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8069 | &nbsp;&nbsp;$363195 |
| &nbsp;&nbsp;&nbsp;Brambles, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19415 | &nbsp;&nbsp;&nbsp;&nbsp; 298326 |
| &nbsp;&nbsp;&nbsp;CAR Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11903 | &nbsp;&nbsp;&nbsp;&nbsp; 292056 |
| &nbsp;&nbsp;&nbsp;Coles Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14511 | &nbsp;&nbsp;&nbsp;&nbsp; 193411 |
| &nbsp;&nbsp;&nbsp;GPT Group | &nbsp;&nbsp;&nbsp;&nbsp;100085 | &nbsp;&nbsp;&nbsp;&nbsp; 328030 |
| &nbsp;&nbsp;&nbsp;Macquarie Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3167 | &nbsp;&nbsp;&nbsp;&nbsp; 442428 |
| &nbsp;&nbsp;&nbsp;National Storage REIT | &nbsp;&nbsp;&nbsp;&nbsp;236287 | &nbsp;&nbsp;&nbsp;&nbsp; 364440 |
| &nbsp;&nbsp;&nbsp;Northern Star Resources, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19287 | &nbsp;&nbsp;&nbsp;&nbsp; 192987 |
| &nbsp;&nbsp;&nbsp;Rio Tinto, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7249 | &nbsp;&nbsp;&nbsp;&nbsp; 520362 |
| &nbsp;&nbsp;&nbsp;Sonic Healthcare, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13618 | &nbsp;&nbsp;&nbsp;&nbsp; 241632 |
| &nbsp;&nbsp;&nbsp;Steadfast Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73043 | &nbsp;&nbsp;&nbsp;&nbsp; 279299 |
| &nbsp;&nbsp;&nbsp;Treasury Wine Estates, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47307 | &nbsp;&nbsp;&nbsp;&nbsp; 230142 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17306 | &nbsp;&nbsp;&nbsp;&nbsp; 376136 |
| &nbsp;&nbsp;&nbsp;Whitehaven Coal, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73808 | &nbsp;&nbsp;&nbsp;&nbsp; 305467 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4427911 |
| **Belgium — 0.7%** | **Belgium — 0.7%** | **Belgium — 0.7%** |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev SA NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10500 | &nbsp;&nbsp;&nbsp;&nbsp; 615906 |
| &nbsp;&nbsp;&nbsp;KBC Group NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5300 | &nbsp;&nbsp;&nbsp;&nbsp; 554997 |
| &nbsp;&nbsp;&nbsp;UCB SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5100 | &nbsp;&nbsp;&nbsp;&nbsp; 1108441 |
| &nbsp;&nbsp;&nbsp;Warehouses De Pauw CVA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7400 | &nbsp;&nbsp;&nbsp;&nbsp; 173289 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2452633 |
| **Bermuda — 0.2%** | **Bermuda — 0.2%** | **Bermuda — 0.2%** |
| &nbsp;&nbsp;&nbsp;Axalta Coating Systems, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19900 | &nbsp;&nbsp;&nbsp;&nbsp; 563568 |
| **Canada — 3.1%** | **Canada — 3.1%** | **Canada — 3.1%** |
| &nbsp;&nbsp;&nbsp;Agnico Eagle Mines, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;&nbsp; 533807 |
| &nbsp;&nbsp;&nbsp;Alimentation Couche-Tard, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp;&nbsp;&nbsp; 374134 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp; 739534 |
| &nbsp;&nbsp;&nbsp;Bombardier, Inc., Class B† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp; 256534 |
| &nbsp;&nbsp;&nbsp;Brookfield Asset Management, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp; 191155 |
| &nbsp;&nbsp;&nbsp;Brookfield Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5900 | &nbsp;&nbsp;&nbsp;&nbsp; 395193 |
| &nbsp;&nbsp;&nbsp;Cameco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp; 375397 |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17800 | &nbsp;&nbsp;&nbsp;&nbsp; 563444 |
| &nbsp;&nbsp;&nbsp;Celestica, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp; 179928 |
| &nbsp;&nbsp;&nbsp;Cenovus Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17200 | &nbsp;&nbsp;&nbsp;&nbsp; 261798 |
| &nbsp;&nbsp;&nbsp;Constellation Software, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 689994 |
| &nbsp;&nbsp;&nbsp;First Quantum Minerals, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp; 154639 |
| &nbsp;&nbsp;&nbsp;Franco-Nevada Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp; 302662 |
| &nbsp;&nbsp;&nbsp;GFL Environmental, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7100 | &nbsp;&nbsp;&nbsp;&nbsp; 357562 |
| &nbsp;&nbsp;&nbsp;Imperial Oil, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp; 333516 |
| &nbsp;&nbsp;&nbsp;Intact Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 310046 |
| &nbsp;&nbsp;&nbsp;North West Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp; 171622 |
| &nbsp;&nbsp;&nbsp;Nutrien, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp; 124597 |
| &nbsp;&nbsp;&nbsp;RB Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp; 368145 |
| &nbsp;&nbsp;&nbsp;Restaurant Brands International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;&nbsp; 291777 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7400 | &nbsp;&nbsp;&nbsp;&nbsp; 949514 |
| &nbsp;&nbsp;&nbsp;Shopify, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5300 | &nbsp;&nbsp;&nbsp;&nbsp; 647850 |
| &nbsp;&nbsp;&nbsp;South Bow Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7100 | &nbsp;&nbsp;&nbsp;&nbsp; 186467 |
| &nbsp;&nbsp;&nbsp;Sun Life Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp; 426790 |
| &nbsp;&nbsp;&nbsp;Teck Resources, Ltd., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp; 84309 |
| &nbsp;&nbsp;&nbsp;Thomson Reuters Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp; 280970 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9900 | &nbsp;&nbsp;&nbsp;&nbsp; 721065 |
| &nbsp;&nbsp;&nbsp;Wheaton Precious Metals Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp; 310947 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10583396 |
| **Denmark — 0.4%** | **Denmark — 0.4%** | **Denmark — 0.4%** |
| &nbsp;&nbsp;&nbsp;DSV A/S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp; 201514 |
| &nbsp;&nbsp;&nbsp;Novo Nordisk A/S, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp; 1202079 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1403593 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Finland — 0.3%** | **Finland — 0.3%** | **Finland — 0.3%** |
| &nbsp;&nbsp;&nbsp;Fortum Oyj | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13900 | &nbsp;&nbsp;$255230 |
| &nbsp;&nbsp;&nbsp;Nokia Oyj | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59300 | &nbsp;&nbsp;&nbsp;&nbsp; 242811 |
| &nbsp;&nbsp;&nbsp;Sampo Oyj, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26900 | &nbsp;&nbsp;&nbsp;&nbsp; 289055 |
| &nbsp;&nbsp;&nbsp;UPM-Kymmene Oyj | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;&nbsp; 337510 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1124606 |
| **France — 2.5%** | **France — 2.5%** | **France — 2.5%** |
| &nbsp;&nbsp;&nbsp;Air Liquide SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;&nbsp; 631038 |
| &nbsp;&nbsp;&nbsp;Amundi SA\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 111353 |
| &nbsp;&nbsp;&nbsp;AXA SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20200 | &nbsp;&nbsp;&nbsp;&nbsp; 983869 |
| &nbsp;&nbsp;&nbsp;BNP Paribas SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8800 | &nbsp;&nbsp;&nbsp;&nbsp; 804007 |
| &nbsp;&nbsp;&nbsp;Cie de Saint-Gobain SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp; 412064 |
| &nbsp;&nbsp;&nbsp;Cie Generale des Etablissements Michelin SCA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9400 | &nbsp;&nbsp;&nbsp;&nbsp; 335335 |
| &nbsp;&nbsp;&nbsp;Danone SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11500 | &nbsp;&nbsp;&nbsp;&nbsp; 943338 |
| &nbsp;&nbsp;&nbsp;Dassault Aviation SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 93259 |
| &nbsp;&nbsp;&nbsp;EssilorLuxottica SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 327136 |
| &nbsp;&nbsp;&nbsp;Hermes International S.C.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 490944 |
| &nbsp;&nbsp;&nbsp;Legrand SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp; 326257 |
| &nbsp;&nbsp;&nbsp;LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 161714 |
| &nbsp;&nbsp;&nbsp;Orange SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23100 | &nbsp;&nbsp;&nbsp;&nbsp; 351797 |
| &nbsp;&nbsp;&nbsp;Pernod Ricard SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp; 319668 |
| &nbsp;&nbsp;&nbsp;Safran SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp; 528604 |
| &nbsp;&nbsp;&nbsp;Schneider Electric SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3900 | &nbsp;&nbsp;&nbsp;&nbsp; 1015867 |
| &nbsp;&nbsp;&nbsp;SEB SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp; 58795 |
| &nbsp;&nbsp;&nbsp;Thales SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp; 376733 |
| &nbsp;&nbsp;&nbsp;Vallourec SACA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19200 | &nbsp;&nbsp;&nbsp;&nbsp; 359012 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8630790 |
| **Germany — 2.9%** | **Germany — 2.9%** | **Germany — 2.9%** |
| &nbsp;&nbsp;&nbsp;adidas AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp; 306846 |
| &nbsp;&nbsp;&nbsp;Allianz SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp; 950939 |
| &nbsp;&nbsp;&nbsp;Auto1 Group SE\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp; 181451 |
| &nbsp;&nbsp;&nbsp;Bayerische Motoren Werke AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp; 296744 |
| &nbsp;&nbsp;&nbsp;Daimler Truck Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;&nbsp; 210174 |
| &nbsp;&nbsp;&nbsp;Deutsche Post AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8800 | &nbsp;&nbsp;&nbsp;&nbsp; 396179 |
| &nbsp;&nbsp;&nbsp;Deutsche Telekom AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27500 | &nbsp;&nbsp;&nbsp;&nbsp; 987936 |
| &nbsp;&nbsp;&nbsp;E.ON SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23100 | &nbsp;&nbsp;&nbsp;&nbsp; 420601 |
| &nbsp;&nbsp;&nbsp;Fresenius SE & Co. KGaA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp; 479075 |
| &nbsp;&nbsp;&nbsp;Hannover Rueck SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp; 243212 |
| &nbsp;&nbsp;&nbsp;Heidelberg Materials AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp; 323530 |
| &nbsp;&nbsp;&nbsp;LEG Immobilien SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3700 | &nbsp;&nbsp;&nbsp;&nbsp; 294515 |
| &nbsp;&nbsp;&nbsp;Merck KGaA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp; 377623 |
| &nbsp;&nbsp;&nbsp;Muenchener Rueckversicherungs-Gesellschaft AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 197062 |
| &nbsp;&nbsp;&nbsp;Rheinmetall AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 594165 |
| &nbsp;&nbsp;&nbsp;RWE AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp;&nbsp;&nbsp; 192608 |
| &nbsp;&nbsp;&nbsp;SAP SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp; 1917626 |
| &nbsp;&nbsp;&nbsp;Siemens AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4100 | &nbsp;&nbsp;&nbsp;&nbsp; 1052289 |
| &nbsp;&nbsp;&nbsp;Siemens Energy AG† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp;&nbsp;&nbsp; 547091 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9969666 |
| **Hong Kong — 0.4%** | **Hong Kong — 0.4%** | **Hong Kong — 0.4%** |
| &nbsp;&nbsp;&nbsp;AIA Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99000 | &nbsp;&nbsp;&nbsp;&nbsp; 925682 |
| &nbsp;&nbsp;&nbsp;HKT Trust & HKT, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;108000 | &nbsp;&nbsp;&nbsp;&nbsp; 170048 |
| &nbsp;&nbsp;&nbsp;Hong Kong Exchanges & Clearing, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;&nbsp; 282853 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1378583 |
| **Ireland — 2.3%** | **Ireland — 2.3%** | **Ireland — 2.3%** |
| &nbsp;&nbsp;&nbsp;AIB Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29700 | &nbsp;&nbsp;&nbsp;&nbsp; 235561 |
| &nbsp;&nbsp;&nbsp;CRH PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp; 620425 |
| &nbsp;&nbsp;&nbsp;Eaton Corp. PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp; 1731240 |
| &nbsp;&nbsp;&nbsp;Flutter Entertainment PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp; 1329944 |
| &nbsp;&nbsp;&nbsp;James Hardie Industries PLC CDI† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12864 | &nbsp;&nbsp;&nbsp;&nbsp; 341512 |
| &nbsp;&nbsp;&nbsp;Kingspan Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5900 | &nbsp;&nbsp;&nbsp;&nbsp; 489158 |
| &nbsp;&nbsp;&nbsp;Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp; 1150650 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fidelity Institutional AM® Global Equities Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Ireland (continued)** | **Ireland (continued)** | **Ireland (continued)** |
| &nbsp;&nbsp;&nbsp;Smurfit WestRock PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;$44380 |
| &nbsp;&nbsp;&nbsp;Smurfit WestRock PLC (LSE) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16300 | &nbsp;&nbsp;&nbsp;&nbsp; 736209 |
| &nbsp;&nbsp;&nbsp;Trane Technologies PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp; 1139008 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7818087 |
| **Israel — 0.1%** | **Israel — 0.1%** | **Israel — 0.1%** |
| &nbsp;&nbsp;&nbsp;Teva Pharmaceutical Industries, Ltd. ADR† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26900 | &nbsp;&nbsp;&nbsp;&nbsp; 415605 |
| **Italy — 0.9%** | **Italy — 0.9%** | **Italy — 0.9%** |
| &nbsp;&nbsp;&nbsp;Intesa Sanpaolo SpA | &nbsp;&nbsp;&nbsp;&nbsp;130200 | &nbsp;&nbsp;&nbsp;&nbsp; 786753 |
| &nbsp;&nbsp;&nbsp;Pirelli & C SpA\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40800 | &nbsp;&nbsp;&nbsp;&nbsp; 275641 |
| &nbsp;&nbsp;&nbsp;Prysmian SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp; 522064 |
| &nbsp;&nbsp;&nbsp;Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp; 460132 |
| &nbsp;&nbsp;&nbsp;UniCredit SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11500 | &nbsp;&nbsp;&nbsp;&nbsp; 848191 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2892781 |
| **Japan — 5.1%** | **Japan — 5.1%** | **Japan — 5.1%** |
| &nbsp;&nbsp;&nbsp;Advantest Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp; 157858 |
| &nbsp;&nbsp;&nbsp;Ajinomoto Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20700 | &nbsp;&nbsp;&nbsp;&nbsp; 549758 |
| &nbsp;&nbsp;&nbsp;Asahi Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29500 | &nbsp;&nbsp;&nbsp;&nbsp; 375401 |
| &nbsp;&nbsp;&nbsp;Canon, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10300 | &nbsp;&nbsp;&nbsp;&nbsp; 293700 |
| &nbsp;&nbsp;&nbsp;Chiba Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40600 | &nbsp;&nbsp;&nbsp;&nbsp; 382577 |
| &nbsp;&nbsp;&nbsp;Daiichi Sankyo Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp; 552573 |
| &nbsp;&nbsp;&nbsp;Ebara Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11900 | &nbsp;&nbsp;&nbsp;&nbsp; 220955 |
| &nbsp;&nbsp;&nbsp;Fast Retailing Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp; 522851 |
| &nbsp;&nbsp;&nbsp;Fuji Electric Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3900 | &nbsp;&nbsp;&nbsp;&nbsp; 195957 |
| &nbsp;&nbsp;&nbsp;FUJIFILM Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31000 | &nbsp;&nbsp;&nbsp;&nbsp; 648780 |
| &nbsp;&nbsp;&nbsp;Hikari Tsushin, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 189019 |
| &nbsp;&nbsp;&nbsp;Hitachi, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44500 | &nbsp;&nbsp;&nbsp;&nbsp; 1386051 |
| &nbsp;&nbsp;&nbsp;Hoshizaki Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp; 165294 |
| &nbsp;&nbsp;&nbsp;Hulic Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp; 230053 |
| &nbsp;&nbsp;&nbsp;Ibiden Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5100 | &nbsp;&nbsp;&nbsp;&nbsp; 218475 |
| &nbsp;&nbsp;&nbsp;Inpex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18600 | &nbsp;&nbsp;&nbsp;&nbsp; 264877 |
| &nbsp;&nbsp;&nbsp;Isuzu Motors, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21500 | &nbsp;&nbsp;&nbsp;&nbsp; 277661 |
| &nbsp;&nbsp;&nbsp;ITOCHU Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10300 | &nbsp;&nbsp;&nbsp;&nbsp; 541843 |
| &nbsp;&nbsp;&nbsp;Kawasaki Heavy Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp; 176976 |
| &nbsp;&nbsp;&nbsp;Kuraray Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;&nbsp; 142009 |
| &nbsp;&nbsp;&nbsp;LY Corp. | &nbsp;&nbsp;&nbsp;&nbsp;161100 | &nbsp;&nbsp;&nbsp;&nbsp; 592908 |
| &nbsp;&nbsp;&nbsp;Marubeni Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12800 | &nbsp;&nbsp;&nbsp;&nbsp; 264233 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Estate Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18900 | &nbsp;&nbsp;&nbsp;&nbsp; 355440 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Heavy Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18800 | &nbsp;&nbsp;&nbsp;&nbsp; 452546 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp; 820313 |
| &nbsp;&nbsp;&nbsp;NEC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;&nbsp; 247954 |
| &nbsp;&nbsp;&nbsp;NIDEC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14300 | &nbsp;&nbsp;&nbsp;&nbsp; 276233 |
| &nbsp;&nbsp;&nbsp;Nintendo Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7600 | &nbsp;&nbsp;&nbsp;&nbsp; 639549 |
| &nbsp;&nbsp;&nbsp;ORIX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19700 | &nbsp;&nbsp;&nbsp;&nbsp; 444164 |
| &nbsp;&nbsp;&nbsp;Pan Pacific International Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11500 | &nbsp;&nbsp;&nbsp;&nbsp; 386562 |
| &nbsp;&nbsp;&nbsp;Panasonic Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32400 | &nbsp;&nbsp;&nbsp;&nbsp; 309497 |
| &nbsp;&nbsp;&nbsp;Renesas Electronics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8600 | &nbsp;&nbsp;&nbsp;&nbsp; 106416 |
| &nbsp;&nbsp;&nbsp;SCSK Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp; 209442 |
| &nbsp;&nbsp;&nbsp;SMC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp; 209682 |
| &nbsp;&nbsp;&nbsp;SoftBank Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp; 180126 |
| &nbsp;&nbsp;&nbsp;Sony Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;&nbsp; 278348 |
| &nbsp;&nbsp;&nbsp;Sumitomo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9500 | &nbsp;&nbsp;&nbsp;&nbsp; 243170 |
| &nbsp;&nbsp;&nbsp;Sumitomo Electric Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28100 | &nbsp;&nbsp;&nbsp;&nbsp; 700264 |
| &nbsp;&nbsp;&nbsp;Sumitomo Heavy Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15800 | &nbsp;&nbsp;&nbsp;&nbsp; 352671 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37700 | &nbsp;&nbsp;&nbsp;&nbsp; 963750 |
| &nbsp;&nbsp;&nbsp;TIS, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3700 | &nbsp;&nbsp;&nbsp;&nbsp; 118655 |
| &nbsp;&nbsp;&nbsp;Tokio Marine Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5900 | &nbsp;&nbsp;&nbsp;&nbsp; 239600 |
| &nbsp;&nbsp;&nbsp;Tokyo Electron, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp; 398714 |
| &nbsp;&nbsp;&nbsp;Toyota Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42500 | &nbsp;&nbsp;&nbsp;&nbsp; 759955 |
| &nbsp;&nbsp;&nbsp;ZOZO, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp; 109052 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;17151912 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Jersey — 0.1%** | **Jersey — 0.1%** | **Jersey — 0.1%** |
| &nbsp;&nbsp;&nbsp;Glencore PLC | &nbsp;&nbsp;&nbsp;&nbsp;115100 | &nbsp;&nbsp;$463241 |
| **Luxembourg — 0.1%** | **Luxembourg — 0.1%** | **Luxembourg — 0.1%** |
| &nbsp;&nbsp;&nbsp;Spotify Technology SA† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp; 501232 |
| **Netherlands — 1.1%** | **Netherlands — 1.1%** | **Netherlands — 1.1%** |
| &nbsp;&nbsp;&nbsp;Argenx SE† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp; 949660 |
| &nbsp;&nbsp;&nbsp;ASM International NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp; 439076 |
| &nbsp;&nbsp;&nbsp;ASML Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 489769 |
| &nbsp;&nbsp;&nbsp;ASR Nederland NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp; 306362 |
| &nbsp;&nbsp;&nbsp;Ferrari NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 219852 |
| &nbsp;&nbsp;&nbsp;Prosus NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15500 | &nbsp;&nbsp;&nbsp;&nbsp; 888675 |
| &nbsp;&nbsp;&nbsp;Universal Music Group NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8300 | &nbsp;&nbsp;&nbsp;&nbsp; 240398 |
| &nbsp;&nbsp;&nbsp;Wolters Kluwer NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp; 374405 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3908197 |
| **Norway — 0.1%** | **Norway — 0.1%** | **Norway — 0.1%** |
| &nbsp;&nbsp;&nbsp;Equinor ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11500 | &nbsp;&nbsp;&nbsp;&nbsp; 297770 |
| **Portugal — 0.1%** | **Portugal — 0.1%** | **Portugal — 0.1%** |
| &nbsp;&nbsp;&nbsp;Jeronimo Martins SGPS SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7900 | &nbsp;&nbsp;&nbsp;&nbsp; 192931 |
| **Singapore — 0.4%** | **Singapore — 0.4%** | **Singapore — 0.4%** |
| &nbsp;&nbsp;&nbsp;Sea, Ltd. ADR† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp; 344630 |
| &nbsp;&nbsp;&nbsp;Singapore Telecommunications, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88000 | &nbsp;&nbsp;&nbsp;&nbsp; 262970 |
| &nbsp;&nbsp;&nbsp;United Overseas Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp; 512859 |
| &nbsp;&nbsp;&nbsp;Yangzijiang Shipbuilding Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48500 | &nbsp;&nbsp;&nbsp;&nbsp; 95625 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1216084 |
| **Spain — 0.7%** | **Spain — 0.7%** | **Spain — 0.7%** |
| &nbsp;&nbsp;&nbsp;Aena SME SA\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp; 145404 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | &nbsp;&nbsp;&nbsp;&nbsp;109300 | &nbsp;&nbsp;&nbsp;&nbsp; 939989 |
| &nbsp;&nbsp;&nbsp;Bankinter SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25900 | &nbsp;&nbsp;&nbsp;&nbsp; 369463 |
| &nbsp;&nbsp;&nbsp;CaixaBank SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96400 | &nbsp;&nbsp;&nbsp;&nbsp; 907596 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2362452 |
| **Sweden — 0.3%** | **Sweden — 0.3%** | **Sweden — 0.3%** |
| &nbsp;&nbsp;&nbsp;Assa Abloy AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp; 496156 |
| &nbsp;&nbsp;&nbsp;Atlas Copco AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8700 | &nbsp;&nbsp;&nbsp;&nbsp; 132776 |
| &nbsp;&nbsp;&nbsp;Indutrade AB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp; 112025 |
| &nbsp;&nbsp;&nbsp;Investor AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13500 | &nbsp;&nbsp;&nbsp;&nbsp; 392344 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1133301 |
| **Switzerland — 1.6%** | **Switzerland — 1.6%** | **Switzerland — 1.6%** |
| &nbsp;&nbsp;&nbsp;Alcon AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7890 | &nbsp;&nbsp;&nbsp;&nbsp; 697642 |
| &nbsp;&nbsp;&nbsp;Amrize, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9440 | &nbsp;&nbsp;&nbsp;&nbsp; 477201 |
| &nbsp;&nbsp;&nbsp;Cie Financiere Richemont SA, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp; 591247 |
| &nbsp;&nbsp;&nbsp;Coca-Cola HBC AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp; 156338 |
| &nbsp;&nbsp;&nbsp;DSM-Firmenich AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp; 154327 |
| &nbsp;&nbsp;&nbsp;Holcim AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8790 | &nbsp;&nbsp;&nbsp;&nbsp; 703200 |
| &nbsp;&nbsp;&nbsp;Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020 | &nbsp;&nbsp;&nbsp;&nbsp; 322859 |
| &nbsp;&nbsp;&nbsp;Schindler Holding AG (Participation Certificate) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 399778 |
| &nbsp;&nbsp;&nbsp;UBS Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24740 | &nbsp;&nbsp;&nbsp;&nbsp; 927160 |
| &nbsp;&nbsp;&nbsp;Zurich Insurance Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250 | &nbsp;&nbsp;&nbsp;&nbsp; 856571 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5286323 |
| **United Kingdom — 4.4%** | **United Kingdom — 4.4%** | **United Kingdom — 4.4%** |
| &nbsp;&nbsp;&nbsp;3i Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5700 | &nbsp;&nbsp;&nbsp;&nbsp; 312475 |
| &nbsp;&nbsp;&nbsp;Admiral Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp; 293409 |
| &nbsp;&nbsp;&nbsp;Anglo American PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp; 119144 |
| &nbsp;&nbsp;&nbsp;Antofagasta PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6400 | &nbsp;&nbsp;&nbsp;&nbsp; 158647 |
| &nbsp;&nbsp;&nbsp;AstraZeneca PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp; 1345953 |
| &nbsp;&nbsp;&nbsp;Aviva PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22200 | &nbsp;&nbsp;&nbsp;&nbsp; 190159 |
| &nbsp;&nbsp;&nbsp;BAE Systems PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15500 | &nbsp;&nbsp;&nbsp;&nbsp; 369280 |
| &nbsp;&nbsp;&nbsp;Barratt Redrow PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36200 | &nbsp;&nbsp;&nbsp;&nbsp; 178848 |
| &nbsp;&nbsp;&nbsp;British American Tobacco PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3700 | &nbsp;&nbsp;&nbsp;&nbsp; 197411 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fidelity Institutional AM® Global Equities Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| &nbsp;&nbsp;&nbsp;Burberry Group PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11200 | &nbsp;&nbsp;$190881 |
| &nbsp;&nbsp;&nbsp;Compass Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;&nbsp; 457539 |
| &nbsp;&nbsp;&nbsp;Diageo PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13600 | &nbsp;&nbsp;&nbsp;&nbsp; 332814 |
| &nbsp;&nbsp;&nbsp;Games Workshop Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp; 193620 |
| &nbsp;&nbsp;&nbsp;GSK PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30500 | &nbsp;&nbsp;&nbsp;&nbsp; 571168 |
| &nbsp;&nbsp;&nbsp;Halma PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp; 197559 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;103300 | &nbsp;&nbsp;&nbsp;&nbsp; 1258913 |
| &nbsp;&nbsp;&nbsp;Imperial Brands PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp; 717821 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;542000 | &nbsp;&nbsp;&nbsp;&nbsp; 556886 |
| &nbsp;&nbsp;&nbsp;National Grid PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52200 | &nbsp;&nbsp;&nbsp;&nbsp; 730742 |
| &nbsp;&nbsp;&nbsp;NatWest Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37100 | &nbsp;&nbsp;&nbsp;&nbsp; 258209 |
| &nbsp;&nbsp;&nbsp;Prudential PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29100 | &nbsp;&nbsp;&nbsp;&nbsp; 370397 |
| &nbsp;&nbsp;&nbsp;RELX PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14300 | &nbsp;&nbsp;&nbsp;&nbsp; 743325 |
| &nbsp;&nbsp;&nbsp;Rolls-Royce Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33200 | &nbsp;&nbsp;&nbsp;&nbsp; 470025 |
| &nbsp;&nbsp;&nbsp;Royalty Pharma PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41900 | &nbsp;&nbsp;&nbsp;&nbsp; 1541920 |
| &nbsp;&nbsp;&nbsp;Shell PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41200 | &nbsp;&nbsp;&nbsp;&nbsp; 1475076 |
| &nbsp;&nbsp;&nbsp;SSE PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp; 366183 |
| &nbsp;&nbsp;&nbsp;Standard Chartered PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21200 | &nbsp;&nbsp;&nbsp;&nbsp; 380910 |
| &nbsp;&nbsp;&nbsp;Tesco PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22100 | &nbsp;&nbsp;&nbsp;&nbsp; 124159 |
| &nbsp;&nbsp;&nbsp;Unilever PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11900 | &nbsp;&nbsp;&nbsp;&nbsp; 692750 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14796223 |
| **United States — 66.4%** | **United States — 66.4%** | **United States — 66.4%** |
| &nbsp;&nbsp;&nbsp;AES Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63500 | &nbsp;&nbsp;&nbsp;&nbsp; 835025 |
| &nbsp;&nbsp;&nbsp;Affirm Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15800 | &nbsp;&nbsp;&nbsp;&nbsp; 1083248 |
| &nbsp;&nbsp;&nbsp;Alnylam Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp; 1333616 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp; 2072520 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp; 7097248 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43400 | &nbsp;&nbsp;&nbsp;&nbsp; 10160374 |
| &nbsp;&nbsp;&nbsp;American Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp; 1149080 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp; 1458730 |
| &nbsp;&nbsp;&nbsp;Amphenol Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13900 | &nbsp;&nbsp;&nbsp;&nbsp; 1480489 |
| &nbsp;&nbsp;&nbsp;Antero Resources Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26900 | &nbsp;&nbsp;&nbsp;&nbsp; 939617 |
| &nbsp;&nbsp;&nbsp;Apollo Global Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7700 | &nbsp;&nbsp;&nbsp;&nbsp; 1118964 |
| &nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58100 | &nbsp;&nbsp;&nbsp;&nbsp; 12059817 |
| &nbsp;&nbsp;&nbsp;AppLovin Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp; 1367450 |
| &nbsp;&nbsp;&nbsp;Arista Networks, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10400 | &nbsp;&nbsp;&nbsp;&nbsp; 1281488 |
| &nbsp;&nbsp;&nbsp;Arthur J. Gallagher & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp; 976650 |
| &nbsp;&nbsp;&nbsp;Ball Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12500 | &nbsp;&nbsp;&nbsp;&nbsp; 715750 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58200 | &nbsp;&nbsp;&nbsp;&nbsp; 2751114 |
| &nbsp;&nbsp;&nbsp;Block, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12100 | &nbsp;&nbsp;&nbsp;&nbsp; 934846 |
| &nbsp;&nbsp;&nbsp;Blue Owl Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48900 | &nbsp;&nbsp;&nbsp;&nbsp; 946215 |
| &nbsp;&nbsp;&nbsp;Boeing Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp; 1020464 |
| &nbsp;&nbsp;&nbsp;Boston Scientific Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9400 | &nbsp;&nbsp;&nbsp;&nbsp; 986248 |
| &nbsp;&nbsp;&nbsp;Brady Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11600 | &nbsp;&nbsp;&nbsp;&nbsp; 818612 |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16900 | &nbsp;&nbsp;&nbsp;&nbsp; 4963530 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6400 | &nbsp;&nbsp;&nbsp;&nbsp; 698880 |
| &nbsp;&nbsp;&nbsp;Carlisle Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp; 957717 |
| &nbsp;&nbsp;&nbsp;Carpenter Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp; 423963 |
| &nbsp;&nbsp;&nbsp;Cavco Industries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp; 726606 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15700 | &nbsp;&nbsp;&nbsp;&nbsp; 1534361 |
| &nbsp;&nbsp;&nbsp;Chart Industries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp; 695905 |
| &nbsp;&nbsp;&nbsp;Cigna Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp; 962568 |
| &nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35100 | &nbsp;&nbsp;&nbsp;&nbsp; 2389608 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20800 | &nbsp;&nbsp;&nbsp;&nbsp; 1948960 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31400 | &nbsp;&nbsp;&nbsp;&nbsp; 2131746 |
| &nbsp;&nbsp;&nbsp;Coinbase Global, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp; 831072 |
| &nbsp;&nbsp;&nbsp;Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38300 | &nbsp;&nbsp;&nbsp;&nbsp; 1272709 |
| &nbsp;&nbsp;&nbsp;Constellation Brands, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6100 | &nbsp;&nbsp;&nbsp;&nbsp; 1018944 |
| &nbsp;&nbsp;&nbsp;Constellation Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp; 1182656 |
| &nbsp;&nbsp;&nbsp;Crown Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;&nbsp; 725328 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp; 1391040 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp;Cytokinetics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24300 | &nbsp;&nbsp;$914652 |
| &nbsp;&nbsp;&nbsp;Datadog, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp; 923868 |
| &nbsp;&nbsp;&nbsp;Dell Technologies, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8600 | &nbsp;&nbsp;&nbsp;&nbsp; 1141134 |
| &nbsp;&nbsp;&nbsp;Dick's Sporting Goods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5100 | &nbsp;&nbsp;&nbsp;&nbsp; 1078701 |
| &nbsp;&nbsp;&nbsp;East West Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5700 | &nbsp;&nbsp;&nbsp;&nbsp; 571425 |
| &nbsp;&nbsp;&nbsp;Edison International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;&nbsp; 886040 |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5100 | &nbsp;&nbsp;&nbsp;&nbsp; 3774357 |
| &nbsp;&nbsp;&nbsp;Emerson Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp; 727550 |
| &nbsp;&nbsp;&nbsp;Ensign Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp; 750000 |
| &nbsp;&nbsp;&nbsp;Estee Lauder Cos., Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11200 | &nbsp;&nbsp;&nbsp;&nbsp; 1045408 |
| &nbsp;&nbsp;&nbsp;Exelon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14700 | &nbsp;&nbsp;&nbsp;&nbsp; 660618 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40200 | &nbsp;&nbsp;&nbsp;&nbsp; 4487928 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11600 | &nbsp;&nbsp;&nbsp;&nbsp; 827312 |
| &nbsp;&nbsp;&nbsp;GE Vernova, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp; 1584696 |
| &nbsp;&nbsp;&nbsp;Gen Digital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25900 | &nbsp;&nbsp;&nbsp;&nbsp; 763791 |
| &nbsp;&nbsp;&nbsp;General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp; 1059474 |
| &nbsp;&nbsp;&nbsp;General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;&nbsp; 2114424 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19900 | &nbsp;&nbsp;&nbsp;&nbsp; 2234571 |
| &nbsp;&nbsp;&nbsp;GlobalFoundries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp; 687976 |
| &nbsp;&nbsp;&nbsp;Hartford Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;&nbsp; 908047 |
| &nbsp;&nbsp;&nbsp;Hasbro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9100 | &nbsp;&nbsp;&nbsp;&nbsp; 683956 |
| &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp; 1125936 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5800 | &nbsp;&nbsp;&nbsp;&nbsp; 1042666 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42300 | &nbsp;&nbsp;&nbsp;&nbsp; 694989 |
| &nbsp;&nbsp;&nbsp;Insulet Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp; 894040 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp; 1670790 |
| &nbsp;&nbsp;&nbsp;Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp; 1727286 |
| &nbsp;&nbsp;&nbsp;J.M. Smucker Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8700 | &nbsp;&nbsp;&nbsp;&nbsp; 933858 |
| &nbsp;&nbsp;&nbsp;Jabil, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;&nbsp; 959631 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp; 1421952 |
| &nbsp;&nbsp;&nbsp;Kenvue, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36400 | &nbsp;&nbsp;&nbsp;&nbsp; 780416 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44300 | &nbsp;&nbsp;&nbsp;&nbsp; 1446395 |
| &nbsp;&nbsp;&nbsp;KeyCorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49700 | &nbsp;&nbsp;&nbsp;&nbsp; 890624 |
| &nbsp;&nbsp;&nbsp;Kodiak Gas Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30400 | &nbsp;&nbsp;&nbsp;&nbsp; 982832 |
| &nbsp;&nbsp;&nbsp;Kyndryl Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23700 | &nbsp;&nbsp;&nbsp;&nbsp; 895149 |
| &nbsp;&nbsp;&nbsp;Leidos Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6400 | &nbsp;&nbsp;&nbsp;&nbsp; 1021760 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp; 1788560 |
| &nbsp;&nbsp;&nbsp;M&T Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp; 1018980 |
| &nbsp;&nbsp;&nbsp;Macerich Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50600 | &nbsp;&nbsp;&nbsp;&nbsp; 845526 |
| &nbsp;&nbsp;&nbsp;Marvell Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp; 1125180 |
| &nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5100 | &nbsp;&nbsp;&nbsp;&nbsp; 2888997 |
| &nbsp;&nbsp;&nbsp;MercadoLibre, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 1186945 |
| &nbsp;&nbsp;&nbsp;Merck & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp; 718704 |
| &nbsp;&nbsp;&nbsp;Merit Medical Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7400 | &nbsp;&nbsp;&nbsp;&nbsp; 627964 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10500 | &nbsp;&nbsp;&nbsp;&nbsp; 8121120 |
| &nbsp;&nbsp;&nbsp;Micron Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8600 | &nbsp;&nbsp;&nbsp;&nbsp; 938604 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32900 | &nbsp;&nbsp;&nbsp;&nbsp; 17552150 |
| &nbsp;&nbsp;&nbsp;Molina Healthcare, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp; 363101 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8700 | &nbsp;&nbsp;&nbsp;&nbsp; 1239402 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp; 1141348 |
| &nbsp;&nbsp;&nbsp;Netflix, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1739100 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;115200 | &nbsp;&nbsp;&nbsp;&nbsp; 20490624 |
| &nbsp;&nbsp;&nbsp;ON Semiconductor Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15600 | &nbsp;&nbsp;&nbsp;&nbsp; 879216 |
| &nbsp;&nbsp;&nbsp;Ovintiv, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11800 | &nbsp;&nbsp;&nbsp;&nbsp; 485924 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp; 1215200 |
| &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp; 951470 |
| &nbsp;&nbsp;&nbsp;Paycom Software, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp; 1065084 |
| &nbsp;&nbsp;&nbsp;PG&E Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67300 | &nbsp;&nbsp;&nbsp;&nbsp; 943546 |
| &nbsp;&nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14400 | &nbsp;&nbsp;&nbsp;&nbsp; 2362320 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13100 | &nbsp;&nbsp;&nbsp;&nbsp; 1971157 |
| &nbsp;&nbsp;&nbsp;PulteGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9800 | &nbsp;&nbsp;&nbsp;&nbsp; 1106616 |
| &nbsp;&nbsp;&nbsp;ROBLOX Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12100 | &nbsp;&nbsp;&nbsp;&nbsp; 1667259 |
| &nbsp;&nbsp;&nbsp;Salesforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp; 619992 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fidelity Institutional AM® Global Equities Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp;Sempra | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10700 | &nbsp;&nbsp;$873976 |
| &nbsp;&nbsp;&nbsp;Service Corp. International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp; 915720 |
| &nbsp;&nbsp;&nbsp;Snowflake, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp; 782250 |
| &nbsp;&nbsp;&nbsp;Soleno Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8600 | &nbsp;&nbsp;&nbsp;&nbsp; 743642 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11900 | &nbsp;&nbsp;&nbsp;&nbsp; 1329825 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp; 637800 |
| &nbsp;&nbsp;&nbsp;Sun Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp; 1141076 |
| &nbsp;&nbsp;&nbsp;TD SYNNEX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp; 866340 |
| &nbsp;&nbsp;&nbsp;Tesla, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp; 1109772 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp; 1403040 |
| &nbsp;&nbsp;&nbsp;T-Mobile US, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp; 858276 |
| &nbsp;&nbsp;&nbsp;Toast, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19200 | &nbsp;&nbsp;&nbsp;&nbsp; 937728 |
| &nbsp;&nbsp;&nbsp;TransDigm Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1608460 |
| &nbsp;&nbsp;&nbsp;Uber Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5700 | &nbsp;&nbsp;&nbsp;&nbsp; 500175 |
| &nbsp;&nbsp;&nbsp;Ultragenyx Pharmaceutical, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19400 | &nbsp;&nbsp;&nbsp;&nbsp; 530008 |
| &nbsp;&nbsp;&nbsp;US Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27500 | &nbsp;&nbsp;&nbsp;&nbsp; 1236400 |
| &nbsp;&nbsp;&nbsp;Veeva Systems, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp; 1250480 |
| &nbsp;&nbsp;&nbsp;Ventas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14200 | &nbsp;&nbsp;&nbsp;&nbsp; 953956 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37700 | &nbsp;&nbsp;&nbsp;&nbsp; 1612052 |
| &nbsp;&nbsp;&nbsp;Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp; 3454700 |
| &nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12300 | &nbsp;&nbsp;&nbsp;&nbsp; 1205154 |
| &nbsp;&nbsp;&nbsp;Walt Disney Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10900 | &nbsp;&nbsp;&nbsp;&nbsp; 1298299 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27200 | &nbsp;&nbsp;&nbsp;&nbsp; 2193136 |
| &nbsp;&nbsp;&nbsp;Western Digital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16500 | &nbsp;&nbsp;&nbsp;&nbsp; 1298385 |
| &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3900 | &nbsp;&nbsp;&nbsp;&nbsp; 748995 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;225301144 |
| **Total Long-Term Investment Securities<br> (cost $266,646,082)** |  | &nbsp;&nbsp;&nbsp;&nbsp;324272029 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **REPURCHASE AGREEMENTS — 4.4%** | **REPURCHASE AGREEMENTS — 4.4%** |  |
| &nbsp;&nbsp;&nbsp;Agreement with Fixed Income Clearing Corp., bearing interest at 1.36% dated 07/31/2025, to be repurchased 08/01/2025 in the amount of $14,839,174 and collateralized by $15,330,400 of United States Treasury Bonds, bearing interest at 4.75% due 05/15/2055 and having an approximate value of $15,135,489<br> (cost $14,838,613) | $14838613 | &nbsp;&nbsp;$14838613 |
| **TOTAL INVESTMENTS<br> (cost $281,484,695)(1)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.9% | &nbsp;&nbsp;&nbsp;&nbsp;339110642 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430467 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$339541109 |

---

---

| | |
|:---|:---|
| ^ | &nbsp;&nbsp;Prior to July 28, 2025, the Portfolio was known as SA JPMorgan Global Equities Portfolio |
| † | &nbsp;&nbsp;Non-income producing security |
| \* | &nbsp;&nbsp;Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The SA Fidelity Institutional AM® Global Equities Portfolio has no right to demand registration of these securities. At July 31, 2025, the aggregate value of these securities was $713,849 representing 0.2% of net assets. |
| (1) | &nbsp;&nbsp;See Note 4 for cost of investments on a tax basis. |

---

---

| |
|:---|
| ADR—American Depositary Receipt |
| CDI—CHESS Depositary Interest |
| CVA—Certification Van Aandelen (Dutch Cert.) |
| LSE—London Stock Exchange |

---

---

| | |
|:---|:---|
| **Industry Allocation\*** |  |
| Internet | &nbsp;&nbsp;10.5% |
| Banks | &nbsp;&nbsp;&nbsp;&nbsp;9.1 |
| Semiconductors | &nbsp;&nbsp;&nbsp;&nbsp;8.9 |
| Software | &nbsp;&nbsp;&nbsp;&nbsp;8.8 |
| Computers | &nbsp;&nbsp;&nbsp;&nbsp;5.6 |
| Repurchase Agreements | &nbsp;&nbsp;&nbsp;&nbsp;4.4 |
| Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;3.5 |
| Diversified Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;3.4 |
| Insurance | &nbsp;&nbsp;&nbsp;&nbsp;3.1 |
| Aerospace/Defense | &nbsp;&nbsp;&nbsp;&nbsp;2.8 |
| Telecommunications | &nbsp;&nbsp;&nbsp;&nbsp;2.8 |
| Oil & Gas | &nbsp;&nbsp;&nbsp;&nbsp;2.7 |
| Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;2.6 |
| Electric | &nbsp;&nbsp;&nbsp;&nbsp;2.1 |
| Beverages | &nbsp;&nbsp;&nbsp;&nbsp;2.0 |
| Healthcare-Products | &nbsp;&nbsp;&nbsp;&nbsp;1.9 |
| Retail | &nbsp;&nbsp;&nbsp;&nbsp;1.8 |
| Commercial Services | &nbsp;&nbsp;&nbsp;&nbsp;1.7 |
| Electronics | &nbsp;&nbsp;&nbsp;&nbsp;1.7 |
| REITS | &nbsp;&nbsp;&nbsp;&nbsp;1.6 |
| Building Materials | &nbsp;&nbsp;&nbsp;&nbsp;1.3 |
| Cosmetics/Personal Care | &nbsp;&nbsp;&nbsp;&nbsp;1.3 |
| Electrical Components & Equipment | &nbsp;&nbsp;&nbsp;&nbsp;1.3 |
| Machinery-Construction & Mining | &nbsp;&nbsp;&nbsp;&nbsp;1.2 |
| Miscellaneous Manufacturing | &nbsp;&nbsp;&nbsp;&nbsp;1.0 |
| Agriculture | &nbsp;&nbsp;&nbsp;&nbsp;1.0 |
| Food | &nbsp;&nbsp;&nbsp;&nbsp;1.0 |
| Auto Manufacturers | &nbsp;&nbsp;&nbsp;&nbsp;0.9 |
| Media | &nbsp;&nbsp;&nbsp;&nbsp;0.9 |
| Healthcare-Services | &nbsp;&nbsp;&nbsp;&nbsp;0.8 |
| Mining | &nbsp;&nbsp;&nbsp;&nbsp;0.7 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fidelity Institutional AM® Global Equities Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | |
|:---|:---|
| **Industry Allocation\*(continued)** |  |
| Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;0.7% |
| Packaging & Containers | &nbsp;&nbsp;&nbsp;&nbsp;0.6 |
| Machinery-Diversified | &nbsp;&nbsp;&nbsp;&nbsp;0.6 |
| Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;0.6 |
| Home Builders | &nbsp;&nbsp;&nbsp;&nbsp;0.5 |
| Toys/Games/Hobbies | &nbsp;&nbsp;&nbsp;&nbsp;0.5 |
| Auto Parts & Equipment | &nbsp;&nbsp;&nbsp;&nbsp;0.4 |
| Apparel | &nbsp;&nbsp;&nbsp;&nbsp;0.4 |
| Distribution/Wholesale | &nbsp;&nbsp;&nbsp;&nbsp;0.4 |
| Lodging | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Iron/Steel | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Oil & Gas Services | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Real Estate | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Home Furnishings | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Private Equity | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Transportation | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Hand/Machine Tools | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Food Service | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Metal Fabricate/Hardware | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Environmental Control | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Forest Products & Paper | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Coal | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Office/Business Equipment | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Pipelines | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
|  | &nbsp;&nbsp;99.9% |

---

 <br> ^ Prior to July 28, 2025, the Portfolio was known as SA JPMorgan Global Equities Portfolio

\* Calculated as a percentage of net assets

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$324272029 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$324272029 |
| Repurchase Agreements | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;14838613 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;14838613 |
| **Total Investments at Value** | &nbsp;&nbsp;$324272029 | &nbsp;&nbsp;$14838613 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$339110642 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fidelity Institutional AM® International Growth Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.5%** | **COMMON STOCKS — 99.5%** | **COMMON STOCKS — 99.5%** |
| **Austria — 1.4%** | **Austria — 1.4%** | **Austria — 1.4%** |
| &nbsp;&nbsp;&nbsp;Erste Group Bank AG | 40822 | &nbsp;&nbsp;$3752506 |
| **Canada — 7.8%** | **Canada — 7.8%** | **Canada — 7.8%** |
| &nbsp;&nbsp;&nbsp;Brookfield Asset Management, Ltd., Class A | 68784 | &nbsp;&nbsp;&nbsp;&nbsp; 4241909 |
| &nbsp;&nbsp;&nbsp;Constellation Software, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1229 | &nbsp;&nbsp;&nbsp;&nbsp; 4240014 |
| &nbsp;&nbsp;&nbsp;Shopify, Inc., Class A† | 41103 | &nbsp;&nbsp;&nbsp;&nbsp; 5023198 |
| &nbsp;&nbsp;&nbsp;Thomson Reuters Corp. | 16504 | &nbsp;&nbsp;&nbsp;&nbsp; 3312235 |
| &nbsp;&nbsp;&nbsp;Waste Connections, Inc. | 21304 | &nbsp;&nbsp;&nbsp;&nbsp; 3978202 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;20795558 |
| **China — 3.1%** | **China — 3.1%** | **China — 3.1%** |
| &nbsp;&nbsp;&nbsp;Tencent Holdings, Ltd. | 118813 | &nbsp;&nbsp;&nbsp;&nbsp; 8324478 |
| **Denmark — 1.6%** | **Denmark — 1.6%** | **Denmark — 1.6%** |
| &nbsp;&nbsp;&nbsp;DSV A/S | 18694 | &nbsp;&nbsp;&nbsp;&nbsp; 4185661 |
| **France — 8.9%** | **France — 8.9%** | **France — 8.9%** |
| &nbsp;&nbsp;&nbsp;Air Liquide SA | 20904 | &nbsp;&nbsp;&nbsp;&nbsp; 4122254 |
| &nbsp;&nbsp;&nbsp;Cie de Saint-Gobain SA | 36204 | &nbsp;&nbsp;&nbsp;&nbsp; 4143993 |
| &nbsp;&nbsp;&nbsp;Hermes International S.C.A. | &nbsp;&nbsp;&nbsp;&nbsp;1606 | &nbsp;&nbsp;&nbsp;&nbsp; 3942280 |
| &nbsp;&nbsp;&nbsp;Safran SA | 15991 | &nbsp;&nbsp;&nbsp;&nbsp; 5283063 |
| &nbsp;&nbsp;&nbsp;Schneider Electric SE | 23279 | &nbsp;&nbsp;&nbsp;&nbsp; 6063685 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;23555275 |
| **Germany — 14.0%** | **Germany — 14.0%** | **Germany — 14.0%** |
| &nbsp;&nbsp;&nbsp;Commerzbank AG | 128700 | &nbsp;&nbsp;&nbsp;&nbsp; 4705791 |
| &nbsp;&nbsp;&nbsp;Deutsche Boerse AG | 13191 | &nbsp;&nbsp;&nbsp;&nbsp; 3825110 |
| &nbsp;&nbsp;&nbsp;Heidelberg Materials AG | 20960 | &nbsp;&nbsp;&nbsp;&nbsp; 4843707 |
| &nbsp;&nbsp;&nbsp;MTU Aero Engines AG | &nbsp;&nbsp;&nbsp;&nbsp;8588 | &nbsp;&nbsp;&nbsp;&nbsp; 3706595 |
| &nbsp;&nbsp;&nbsp;Muenchener Rueckversicherungs-Gesellschaft AG | &nbsp;&nbsp;&nbsp;&nbsp;6068 | &nbsp;&nbsp;&nbsp;&nbsp; 3985914 |
| &nbsp;&nbsp;&nbsp;Rheinmetall AG | &nbsp;&nbsp;&nbsp;&nbsp;2031 | &nbsp;&nbsp;&nbsp;&nbsp; 4022500 |
| &nbsp;&nbsp;&nbsp;SAP SE | 23176 | &nbsp;&nbsp;&nbsp;&nbsp; 6633268 |
| &nbsp;&nbsp;&nbsp;Siemens Energy AG† | 45666 | &nbsp;&nbsp;&nbsp;&nbsp; 5315630 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;37038515 |
| **India — 7.9%** | **India — 7.9%** | **India — 7.9%** |
| &nbsp;&nbsp;&nbsp;Bharti Airtel, Ltd. | 183378 | &nbsp;&nbsp;&nbsp;&nbsp; 4002554 |
| &nbsp;&nbsp;&nbsp;HDFC Bank, Ltd. | 209509 | &nbsp;&nbsp;&nbsp;&nbsp; 4826429 |
| &nbsp;&nbsp;&nbsp;ICICI Bank, Ltd. | 266860 | &nbsp;&nbsp;&nbsp;&nbsp; 4524195 |
| &nbsp;&nbsp;&nbsp;InterGlobe Aviation, Ltd.\*† | 52700 | &nbsp;&nbsp;&nbsp;&nbsp; 3546773 |
| &nbsp;&nbsp;&nbsp;Larsen & Toubro, Ltd. | 95574 | &nbsp;&nbsp;&nbsp;&nbsp; 3958849 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;20858800 |
| **Ireland — 5.5%** | **Ireland — 5.5%** | **Ireland — 5.5%** |
| &nbsp;&nbsp;&nbsp;CRH PLC | 35900 | &nbsp;&nbsp;&nbsp;&nbsp; 3409823 |
| &nbsp;&nbsp;&nbsp;Eaton Corp. PLC | 10226 | &nbsp;&nbsp;&nbsp;&nbsp; 3934147 |
| &nbsp;&nbsp;&nbsp;Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;6871 | &nbsp;&nbsp;&nbsp;&nbsp; 3162446 |
| &nbsp;&nbsp;&nbsp;Trane Technologies PLC | &nbsp;&nbsp;&nbsp;&nbsp;9051 | &nbsp;&nbsp;&nbsp;&nbsp; 3965062 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14471478 |
| **Israel — 2.9%** | **Israel — 2.9%** | **Israel — 2.9%** |
| &nbsp;&nbsp;&nbsp;Bank Hapoalim BM | 202390 | &nbsp;&nbsp;&nbsp;&nbsp; 3812610 |
| &nbsp;&nbsp;&nbsp;Bank Leumi Le-Israel BM | 202322 | &nbsp;&nbsp;&nbsp;&nbsp; 3755945 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7568555 |
| **Japan — 4.1%** | **Japan — 4.1%** | **Japan — 4.1%** |
| &nbsp;&nbsp;&nbsp;Hitachi, Ltd. | 205530 | &nbsp;&nbsp;&nbsp;&nbsp; 6401687 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Heavy Industries, Ltd. | 190932 | &nbsp;&nbsp;&nbsp;&nbsp; 4596042 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10997729 |
| **Luxembourg — 1.7%** | **Luxembourg — 1.7%** | **Luxembourg — 1.7%** |
| &nbsp;&nbsp;&nbsp;Spotify Technology SA† | &nbsp;&nbsp;&nbsp;&nbsp;7231 | &nbsp;&nbsp;&nbsp;&nbsp; 4530511 |
| **Mauritius — 1.4%** | **Mauritius — 1.4%** | **Mauritius — 1.4%** |
| &nbsp;&nbsp;&nbsp;MakeMyTrip, Ltd.† | 39061 | &nbsp;&nbsp;&nbsp;&nbsp; 3655719 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Netherlands — 5.7%** | **Netherlands — 5.7%** |  |
| &nbsp;&nbsp;&nbsp;ASM International NV | &nbsp;&nbsp;&nbsp;&nbsp;8353 | &nbsp;&nbsp;$4075118 |
| &nbsp;&nbsp;&nbsp;Ferrari NV | &nbsp;&nbsp;&nbsp;&nbsp;8266 | &nbsp;&nbsp;&nbsp;&nbsp; 3634594 |
| &nbsp;&nbsp;&nbsp;Ferrovial SE | 72928 | &nbsp;&nbsp;&nbsp;&nbsp; 3736820 |
| &nbsp;&nbsp;&nbsp;Wolters Kluwer NV | 24180 | &nbsp;&nbsp;&nbsp;&nbsp; 3772128 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;15218660 |
| **Spain — 1.9%** | **Spain — 1.9%** |  |
| &nbsp;&nbsp;&nbsp;Iberdrola SA | 280329 | &nbsp;&nbsp;&nbsp;&nbsp; 4912238 |
| **Switzerland — 4.2%** | **Switzerland — 4.2%** |  |
| &nbsp;&nbsp;&nbsp;Amrize, Ltd.† | 58400 | &nbsp;&nbsp;&nbsp;&nbsp; 2952175 |
| &nbsp;&nbsp;&nbsp;Holcim AG | 45556 | &nbsp;&nbsp;&nbsp;&nbsp; 3644480 |
| &nbsp;&nbsp;&nbsp;Zurich Insurance Group AG | &nbsp;&nbsp;&nbsp;&nbsp;6482 | &nbsp;&nbsp;&nbsp;&nbsp; 4441836 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11038491 |
| **Taiwan — 5.1%** | **Taiwan — 5.1%** |  |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co., Ltd. | 346217 | &nbsp;&nbsp;&nbsp;&nbsp; 13455456 |
| **United Kingdom — 9.6%** | **United Kingdom — 9.6%** |  |
| &nbsp;&nbsp;&nbsp;3i Group PLC | 71953 | &nbsp;&nbsp;&nbsp;&nbsp; 3944476 |
| &nbsp;&nbsp;&nbsp;BAE Systems PLC | 177010 | &nbsp;&nbsp;&nbsp;&nbsp; 4217179 |
| &nbsp;&nbsp;&nbsp;InterContinental Hotels Group PLC | 30414 | &nbsp;&nbsp;&nbsp;&nbsp; 3520169 |
| &nbsp;&nbsp;&nbsp;London Stock Exchange Group PLC | 29431 | &nbsp;&nbsp;&nbsp;&nbsp; 3599181 |
| &nbsp;&nbsp;&nbsp;RELX PLC | 79992 | &nbsp;&nbsp;&nbsp;&nbsp; 4158046 |
| &nbsp;&nbsp;&nbsp;Rolls-Royce Holdings PLC | 426984 | &nbsp;&nbsp;&nbsp;&nbsp; 6044969 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;25484020 |
| **United States — 12.7%** | **United States — 12.7%** |  |
| &nbsp;&nbsp;&nbsp;Arthur J. Gallagher & Co. | 11781 | &nbsp;&nbsp;&nbsp;&nbsp; 3384092 |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. | 15218 | &nbsp;&nbsp;&nbsp;&nbsp; 4469527 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos., Inc. | 17215 | &nbsp;&nbsp;&nbsp;&nbsp; 3429228 |
| &nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;6502 | &nbsp;&nbsp;&nbsp;&nbsp; 3683188 |
| &nbsp;&nbsp;&nbsp;MercadoLibre, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;1563 | &nbsp;&nbsp;&nbsp;&nbsp; 3710390 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;6551 | &nbsp;&nbsp;&nbsp;&nbsp; 3378547 |
| &nbsp;&nbsp;&nbsp;S&P Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;6291 | &nbsp;&nbsp;&nbsp;&nbsp; 3466970 |
| &nbsp;&nbsp;&nbsp;Synopsys, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;6975 | &nbsp;&nbsp;&nbsp;&nbsp; 4418453 |
| &nbsp;&nbsp;&nbsp;Visa, Inc., Class A | 10416 | &nbsp;&nbsp;&nbsp;&nbsp; 3598416 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;33538811 |
| **Total Common Stocks<br> (cost $202,007,988)** |  | &nbsp;&nbsp;&nbsp;&nbsp;263382461 |
| **WARRANTS — 0.0%** | **WARRANTS — 0.0%** |  |
| **Canada — 0.0%** | **Canada — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;Constellation Software, Inc.†(1)<br> Expires 03/31/2040<br> (cost $0) | &nbsp;&nbsp;&nbsp;&nbsp;2082 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **TOTAL INVESTMENTS<br> (cost $202,007,988)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;99.5% | &nbsp;&nbsp;&nbsp;&nbsp;263382461 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1454203 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$264836664 |

---

---

| | |
|:---|:---|
| † | &nbsp;&nbsp;Non-income producing security |
| \* | &nbsp;&nbsp;Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The SA Fidelity Institutional AM® International Growth Portfolio has no right to demand registration of these securities. At July 31, 2025, the aggregate value of these securities was $3,546,773 representing 1.3% of net assets. |
| (1) | &nbsp;&nbsp;Securities classified as Level 3 (see Note 2). |
| (2) | &nbsp;&nbsp;See Note 4 for cost of investments on a tax basis. |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fidelity Institutional AM® International Growth Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | |
|:---|:---|
| **Industry Allocation\*** |  |
| Banks | &nbsp;&nbsp;&nbsp;&nbsp;9.6% |
| Internet | &nbsp;&nbsp;&nbsp;&nbsp;9.5 |
| Aerospace/Defense | &nbsp;&nbsp;&nbsp;&nbsp;8.8 |
| Building Materials | &nbsp;&nbsp;&nbsp;&nbsp;8.7 |
| Semiconductors | &nbsp;&nbsp;&nbsp;&nbsp;8.3 |
| Diversified Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;7.1 |
| Machinery-Construction & Mining | &nbsp;&nbsp;&nbsp;&nbsp;6.1 |
| Software | &nbsp;&nbsp;&nbsp;&nbsp;5.8 |
| Insurance | &nbsp;&nbsp;&nbsp;&nbsp;5.8 |
| Commercial Services | &nbsp;&nbsp;&nbsp;&nbsp;5.6 |
| Electrical Components & Equipment | &nbsp;&nbsp;&nbsp;&nbsp;3.8 |
| Engineering & Construction | &nbsp;&nbsp;&nbsp;&nbsp;2.9 |
| Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;2.7 |
| Electric | &nbsp;&nbsp;&nbsp;&nbsp;1.9 |
| Transportation | &nbsp;&nbsp;&nbsp;&nbsp;1.6 |
| Telecommunications | &nbsp;&nbsp;&nbsp;&nbsp;1.5 |
| Environmental Control | &nbsp;&nbsp;&nbsp;&nbsp;1.5 |
| Private Equity | &nbsp;&nbsp;&nbsp;&nbsp;1.5 |
| Apparel | &nbsp;&nbsp;&nbsp;&nbsp;1.5 |
| Auto Manufacturers | &nbsp;&nbsp;&nbsp;&nbsp;1.4 |
| Airlines | &nbsp;&nbsp;&nbsp;&nbsp;1.4 |
| Lodging | &nbsp;&nbsp;&nbsp;&nbsp;1.3 |
| Media | &nbsp;&nbsp;&nbsp;&nbsp;1.2 |
|  | &nbsp;&nbsp;99.5% |

---

\* Calculated as a percentage of net assets

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$263382461 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$263382461 |
| Warrants | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| **Total Investments at Value** | &nbsp;&nbsp;$263382461 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$263382461 |

---

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

Level 3 investments in securities were not considered a significant portion of the Portfolio's net assets.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fidelity Institutional AM® Real Estate Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.7%** | **COMMON STOCKS — 99.7%** | **COMMON STOCKS — 99.7%** |
| **Internet — 1.1%** | **Internet — 1.1%** | **Internet — 1.1%** |
| &nbsp;&nbsp;&nbsp;Zillow Group, Inc., Class C† | 33900 | &nbsp;&nbsp;$2696745 |
| **Real Estate — 1.2%** | **Real Estate — 1.2%** | **Real Estate — 1.2%** |
| &nbsp;&nbsp;&nbsp;Jones Lang LaSalle, Inc.† | 10800 | &nbsp;&nbsp;&nbsp;&nbsp; 2919888 |
| **Apartment REITS — 13.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Camden Property Trust | 25600 | &nbsp;&nbsp;&nbsp;&nbsp; 2795520 |
| &nbsp;&nbsp;&nbsp;Essex Property Trust, Inc. | 35413 | &nbsp;&nbsp;&nbsp;&nbsp; 9213754 |
| &nbsp;&nbsp;&nbsp;Invitation Homes, Inc. | 270700 | &nbsp;&nbsp;&nbsp;&nbsp; 8296955 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartment Communities, Inc. | 49500 | &nbsp;&nbsp;&nbsp;&nbsp; 7050285 |
| &nbsp;&nbsp;&nbsp;UDR, Inc. | 159300 | &nbsp;&nbsp;&nbsp;&nbsp; 6258897 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;33615411 |
| **Diversified REITS — 14.1%** |  |  |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | 14600 | &nbsp;&nbsp;&nbsp;&nbsp; 3042494 |
| &nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | 40900 | &nbsp;&nbsp;&nbsp;&nbsp; 7216396 |
| &nbsp;&nbsp;&nbsp;Equinix, Inc. | 31300 | &nbsp;&nbsp;&nbsp;&nbsp; 24575821 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;34834711 |
| **Health Care REITS — 15.5%** |  |  |
| &nbsp;&nbsp;&nbsp;CareTrust REIT, Inc. | 59800 | &nbsp;&nbsp;&nbsp;&nbsp; 1901640 |
| &nbsp;&nbsp;&nbsp;Ventas, Inc. | 288045 | &nbsp;&nbsp;&nbsp;&nbsp; 19350863 |
| &nbsp;&nbsp;&nbsp;Welltower, Inc. | 102064 | &nbsp;&nbsp;&nbsp;&nbsp; 16847705 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;38100208 |
| **Hotel REITS — 2.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Ryman Hospitality Properties, Inc. | 58400 | &nbsp;&nbsp;&nbsp;&nbsp; 5551504 |
| **Manufactured Homes REITS — 3.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Sun Communities, Inc. | 72500 | &nbsp;&nbsp;&nbsp;&nbsp; 8992175 |
| **Office Property REITS — 2.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Douglas Emmett, Inc. | 409800 | &nbsp;&nbsp;&nbsp;&nbsp; 6212568 |
| **Regional Malls REITS — 5.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Macerich Co. | 368400 | &nbsp;&nbsp;&nbsp;&nbsp; 6155964 |
| &nbsp;&nbsp;&nbsp;Tanger, Inc. | 266900 | &nbsp;&nbsp;&nbsp;&nbsp; 8012338 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14168302 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Shopping Centers REITS — 6.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Acadia Realty Trust | 13400 | &nbsp;&nbsp;$250848 |
| &nbsp;&nbsp;&nbsp;Curbline Properties Corp. | 130900 | &nbsp;&nbsp;&nbsp;&nbsp; 2892890 |
| &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust | 54200 | &nbsp;&nbsp;&nbsp;&nbsp; 4995072 |
| &nbsp;&nbsp;&nbsp;SITE Centers Corp. | 103250 | &nbsp;&nbsp;&nbsp;&nbsp; 1112002 |
| &nbsp;&nbsp;&nbsp;Urban Edge Properties | 322100 | &nbsp;&nbsp;&nbsp;&nbsp; 6351812 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;15602624 |
| **Single Tenant REITS — 6.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Four Corners Property Trust, Inc. | 305900 | &nbsp;&nbsp;&nbsp;&nbsp; 7720916 |
| &nbsp;&nbsp;&nbsp;NNN REIT, Inc. | 194200 | &nbsp;&nbsp;&nbsp;&nbsp; 8012692 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;15733608 |
| **Storage REITS — 12.5%** |  |  |
| &nbsp;&nbsp;&nbsp;CubeSmart | 193300 | &nbsp;&nbsp;&nbsp;&nbsp; 7521303 |
| &nbsp;&nbsp;&nbsp;Iron Mountain, Inc. | 107900 | &nbsp;&nbsp;&nbsp;&nbsp; 10505144 |
| &nbsp;&nbsp;&nbsp;Public Storage | 47300 | &nbsp;&nbsp;&nbsp;&nbsp; 12862762 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;30889209 |
| **Warehouse/Industrial REITS — 14.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Americold Realty Trust, Inc. | 219000 | &nbsp;&nbsp;&nbsp;&nbsp; 3521520 |
| &nbsp;&nbsp;&nbsp;Prologis, Inc. | 227860 | &nbsp;&nbsp;&nbsp;&nbsp; 24330891 |
| &nbsp;&nbsp;&nbsp;Rexford Industrial Realty, Inc. | 121900 | &nbsp;&nbsp;&nbsp;&nbsp; 4453007 |
| &nbsp;&nbsp;&nbsp;Terreno Realty Corp. | 74280 | &nbsp;&nbsp;&nbsp;&nbsp; 4121797 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;36427215 |
| **TOTAL INVESTMENTS<br> (cost $238,182,385)(1)** | &nbsp;&nbsp;&nbsp;&nbsp;99.7% | &nbsp;&nbsp;&nbsp;&nbsp;245744168 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;833833 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$246578001 |

---

† Non-income producing security

(1) See Note 4 for cost of investments on a tax basis.

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$245744168 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$245744168 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES — 35.0%** | **CORPORATE BONDS & NOTES — 35.0%** | **CORPORATE BONDS & NOTES — 35.0%** |
| **Aerospace/Defense — 0.7%** | **Aerospace/Defense — 0.7%** | **Aerospace/Defense — 0.7%** |
| &nbsp;&nbsp;&nbsp;Boeing Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 05/01/2030 | $200000 | &nbsp;&nbsp;$203174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.81%, 05/01/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.93%, 05/01/2060 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 02/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 211286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.30%, 05/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 211155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.53%, 05/01/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 217682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.86%, 05/01/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 109916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.01%, 05/01/2064 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 55176 |
| &nbsp;&nbsp;&nbsp;General Dynamics Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 05/15/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 396470 |
| &nbsp;&nbsp;&nbsp;General Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 07/29/2030 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 01/14/2038 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 159827 |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 06/01/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 07/31/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102635 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40%, 08/15/2030 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 02/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 02/15/2055 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 93117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 01/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.90%, 11/15/2063 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102105 |
| &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 06/01/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 06/01/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 92632 |
| &nbsp;&nbsp;&nbsp;RTX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.03%, 03/15/2052 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 63645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 03/15/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 11/16/2048 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 85918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 02/27/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 05/01/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.40%, 03/15/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 108904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 09/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 221695 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3726990 |
| **Agriculture — 0.5%** | **Agriculture — 0.5%** | **Agriculture — 0.5%** |
| &nbsp;&nbsp;&nbsp;Altria Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 02/04/2051 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 68922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 02/14/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 02/14/2049 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.20%, 11/01/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 209677 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 03/27/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 03/15/2049 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 84607 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.54%, 08/15/2047 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 81067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 02/20/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 210636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.42%, 08/02/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 216846 |
| &nbsp;&nbsp;&nbsp;Bunge, Ltd. Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 09/17/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197207 |
| &nbsp;&nbsp;&nbsp;Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 02/13/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 11/17/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 02/15/2033 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 410497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 11/17/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 208706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 05/16/2038 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 110120 |
| &nbsp;&nbsp;&nbsp;Reynolds American, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 08/15/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 08/15/2045 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96893 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2999075 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Airlines — 0.0%** | **Airlines — 0.0%** | **Airlines — 0.0%** |
| &nbsp;&nbsp;&nbsp;United Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 11/01/2033 | $75689 | &nbsp;&nbsp;$67695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 08/15/2038 | &nbsp;&nbsp; 99130 | &nbsp;&nbsp;&nbsp;&nbsp; 100361 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168056 |
| **Apparel — 0.1%** | **Apparel — 0.1%** | **Apparel — 0.1%** |
| &nbsp;&nbsp;&nbsp;NIKE, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.85%, 03/27/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 187806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 03/27/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 70556 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258362 |
| **Auto Manufacturers — 0.8%** | **Auto Manufacturers — 0.8%** | **Auto Manufacturers — 0.8%** |
| &nbsp;&nbsp;&nbsp;American Honda Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 07/10/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 11/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206917 |
| &nbsp;&nbsp;&nbsp;Cummins, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 10/01/2043 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 187183 |
| &nbsp;&nbsp;&nbsp;Ford Motor Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 02/12/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 169444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 01/15/2043 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 77502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.29%, 12/08/2046 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 81624 |
| &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.82%, 11/02/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 193100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 08/17/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 05/28/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 03/08/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200375 |
| &nbsp;&nbsp;&nbsp;General Motors Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 04/01/2038 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 93000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 04/01/2045 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 86972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 10/02/2043 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99073 |
| &nbsp;&nbsp;&nbsp;General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 06/10/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 175401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 01/12/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 176505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.35%, 01/17/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 398291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 05/08/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 06/23/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 01/07/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206199 |
| &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.05%, 03/22/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 09/11/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 01/09/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 11/20/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 209756 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4172458 |
| **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** |
| &nbsp;&nbsp;&nbsp;Aptiv Swiss Holdings, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 12/01/2051 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 120090 |
| &nbsp;&nbsp;&nbsp;Lear Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 01/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 172147 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292237 |
| **Banks — 7.7%** | **Banks — 7.7%** | **Banks — 7.7%** |
| &nbsp;&nbsp;&nbsp;Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 04/12/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 398413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.44%, 07/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 03/14/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 405655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.94%, 11/07/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 225320 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.48%, 09/21/2036 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 212853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 03/11/2032 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 224046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.68%, 06/19/2041 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 142607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.31%, 04/22/2042 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 152830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.42%, 12/20/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 390599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.82%, 01/20/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 395703 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.08%, 03/20/2051 | $200000 | &nbsp;&nbsp;$158432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.33%, 03/15/2050 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 165644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.44%, 01/20/2048 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 170697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.02%, 07/22/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 04/25/2029 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 254661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.29%, 04/25/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.47%, 01/23/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.51%, 01/24/2036 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.52%, 10/25/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.87%, 09/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 210695 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/27/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202685 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.06%, 07/22/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.83%, 10/25/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 211946 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 02/01/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 209588 |
| &nbsp;&nbsp;&nbsp;Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 01/10/2047 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 181025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 08/17/2045 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 189764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.34%, 09/10/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.39%, 11/02/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 423029 |
| &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.26%, 04/08/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205205 |
| &nbsp;&nbsp;&nbsp;Citibank, N.A. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.57%, 04/30/2034 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 259922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 09/29/2028 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 260395 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.56%, 05/01/2032 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 221337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.67%, 07/24/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 393408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 07/25/2028 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 247845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.41%, 03/31/2031 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 247055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 09/29/2027 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 299158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 07/30/2045 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 174429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 07/23/2048 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 172588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 06/11/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.61%, 03/04/2056 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.02%, 01/24/2036 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204966 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 02/06/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 181239 |
| &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.49%, 10/17/2029 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 251418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 01/09/2029 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 253818 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.37%, 01/10/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 406663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 09/11/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199546 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.36%, 10/27/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 208037 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.95%, 10/21/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 387356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.62%, 04/22/2032 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 356077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.81%, 04/23/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 392613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 01/26/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 396597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.02%, 10/31/2038 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 174790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.22%, 05/01/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 397549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.02%, 10/23/2035 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 394529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.56%, 11/19/2045 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.73%, 01/28/2056 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 10/01/2037 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 219651 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.01%, 09/22/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 379008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 05/24/2032 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 356289 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.04%, 03/13/2028 | $400000 | &nbsp;&nbsp;$396176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 03/31/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 406380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.29%, 11/19/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 408391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.79%, 05/13/2036 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 09/15/2037 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 213631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.40%, 11/13/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 223548 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.71%, 02/02/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102298 |
| &nbsp;&nbsp;&nbsp;ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.02%, 03/28/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 04/09/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.34%, 03/19/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204926 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.96%, 05/13/2031 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 370579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.33%, 04/22/2052 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 138962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.78%, 02/01/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 395698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.96%, 11/15/2048 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 159055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.01%, 04/23/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 395561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 12/05/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 399618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 07/25/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 403220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.91%, 07/25/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 10/22/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/22/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 406789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.14%, 01/24/2031 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 408788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 06/01/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.58%, 04/22/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 414652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 07/15/2041 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.72%, 09/14/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 208407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 10/23/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 217037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.40%, 05/15/2038 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 222209 |
| &nbsp;&nbsp;&nbsp;KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55%, 10/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 184711 |
| &nbsp;&nbsp;&nbsp;Kreditanstalt fuer Wiederaufbau |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 05/20/2027 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 589543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 03/01/2027 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 603117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 02/28/2034 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 401335 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.34%, 01/09/2048 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 159890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 03/22/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 398431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.46%, 01/05/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 404371 |
| &nbsp;&nbsp;&nbsp;Manufacturers & Traders Trust Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 01/27/2028 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 251519 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.64%, 10/13/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 385899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 07/18/2039 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 171619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 07/20/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.43%, 04/17/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204052 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 07/06/2034 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 416988 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.48%, 09/16/2036 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 213097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 01/22/2031 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 230394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.21%, 04/20/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 398220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 01/27/2045 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 170398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 10/18/2030 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 250500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 04/21/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.32%, 07/19/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.52%, 11/19/2055 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.59%, 01/18/2036 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 03/24/2051 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 07/24/2042 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 219335 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Bank, N.A. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 10/15/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 399451 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.97%, 07/14/2028 | $400000 | &nbsp;&nbsp;$403967 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Private Bank, N.A. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.73%, 07/18/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100451 |
| &nbsp;&nbsp;&nbsp;NatWest Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.08%, 01/27/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 405414 |
| &nbsp;&nbsp;&nbsp;Oesterreichische Kontrollbank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 05/21/2027 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 606948 |
| &nbsp;&nbsp;&nbsp;PNC Bank, N.A. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 10/22/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 278495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 07/26/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 395722 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.45%, 04/23/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 387907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.58%, 06/12/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 412440 |
| &nbsp;&nbsp;&nbsp;Regions Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.72%, 06/06/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206695 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.97%, 01/24/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 404621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.97%, 08/02/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 02/04/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203967 |
| &nbsp;&nbsp;&nbsp;Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 03/09/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 208223 |
| &nbsp;&nbsp;&nbsp;Santander UK Group Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.53%, 01/10/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 208242 |
| &nbsp;&nbsp;&nbsp;State Street Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.54%, 02/28/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 402726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.16%, 05/18/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203695 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.72%, 09/14/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 414485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 07/08/2046 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.84%, 07/09/2044 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202049 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.11%, 06/08/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 398214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.78%, 12/17/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.52%, 07/17/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206094 |
| &nbsp;&nbsp;&nbsp;Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.87%, 01/26/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 403653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.71%, 01/24/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206943 |
| &nbsp;&nbsp;&nbsp;UBS AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 09/11/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 02/15/2028 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 268559 |
| &nbsp;&nbsp;&nbsp;US Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 04/27/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 392433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 02/12/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 01/23/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.68%, 01/23/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207253 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 10/30/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 373658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.07%, 04/30/2041 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 75416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35%, 03/02/2033 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 366172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.53%, 03/24/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 393662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 05/01/2045 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 158987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.61%, 04/25/2053 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 170685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.01%, 04/04/2051 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 181238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 01/23/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 408520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.24%, 01/24/2031 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 307144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.56%, 07/25/2034 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 412766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.57%, 07/25/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 411874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.71%, 04/22/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 407801 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.54%, 11/17/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 416175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.62%, 11/20/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201699 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;42693222 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Beverages — 0.7%** | **Beverages — 0.7%** | **Beverages — 0.7%** |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 02/01/2036 | $100000 | &nbsp;&nbsp;$96966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 02/01/2046 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 182851 |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 06/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 192322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.44%, 10/06/2048 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 84529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 01/23/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 01/23/2039 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 01/23/2049 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 01/23/2059 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101400 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 03/15/2051 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 59395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 03/25/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 395382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 05/13/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 01/14/2055 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 05/13/2064 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96626 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Femsa SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.85%, 09/01/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 163585 |
| &nbsp;&nbsp;&nbsp;Constellation Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 08/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 189772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10%, 02/15/2048 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 77349 |
| &nbsp;&nbsp;&nbsp;Diageo Capital PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 10/24/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 185134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 04/29/2043 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 80827 |
| &nbsp;&nbsp;&nbsp;Keurig Dr. Pepper, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 04/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 191945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 04/15/2052 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 82036 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 07/15/2046 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 79284 |
| &nbsp;&nbsp;&nbsp;PepsiCo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/07/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100931 |
| &nbsp;&nbsp;&nbsp;PepsiCo., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 10/15/2049 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 65216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/15/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 390522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 04/14/2046 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 87758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 07/17/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96197 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3698396 |
| **Biotechnology — 0.4%** | **Biotechnology — 0.4%** | **Biotechnology — 0.4%** |
| &nbsp;&nbsp;&nbsp;Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 08/18/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40%, 05/01/2045 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 84546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.66%, 06/15/2051 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 84620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 11/15/2041 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 186781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 03/02/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 03/02/2043 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 03/02/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 03/02/2063 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95940 |
| &nbsp;&nbsp;&nbsp;Biogen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 05/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 179426 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 03/01/2046 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 89126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 11/15/2064 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 12/01/2041 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202012 |
| &nbsp;&nbsp;&nbsp;Royalty Pharma PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 09/02/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 67763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 09/02/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203677 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1986740 |
| **Building Materials — 0.2%** | **Building Materials — 0.2%** | **Building Materials — 0.2%** |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.58%, 04/05/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 73317 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Building Materials (continued)** | **Building Materials (continued)** | **Building Materials (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.90%, 03/15/2034 | $100000 | &nbsp;&nbsp;$105900 |
| &nbsp;&nbsp;&nbsp;CRH SMW Finance DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 05/21/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205070 |
| &nbsp;&nbsp;&nbsp;Johnson Controls International PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 07/02/2044 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 86318 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 12/01/2054 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 47962 |
| &nbsp;&nbsp;&nbsp;Owens Corning |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 06/15/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 06/15/2054 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50369 |
| &nbsp;&nbsp;&nbsp;Trane Technologies Financing, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 03/21/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98071 |
| &nbsp;&nbsp;&nbsp;Trane Technologies Global Holding Co., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 06/15/2043 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51216 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 12/01/2054 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49448 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869380 |
| **Chemicals — 0.4%** | **Chemicals — 0.4%** | **Chemicals — 0.4%** |
| &nbsp;&nbsp;&nbsp;Air Products & Chemicals, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 05/15/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 62630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 02/08/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202079 |
| &nbsp;&nbsp;&nbsp;CF Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 03/15/2044 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 93314 |
| &nbsp;&nbsp;&nbsp;Dow Chemical Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 03/15/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 03/15/2055 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 92632 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.32%, 11/15/2038 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205190 |
| &nbsp;&nbsp;&nbsp;Eastman Chemical Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 10/15/2044 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 42246 |
| &nbsp;&nbsp;&nbsp;Ecolab, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 12/15/2051 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 30430 |
| &nbsp;&nbsp;&nbsp;FMC Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 05/18/2053 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 47987 |
| &nbsp;&nbsp;&nbsp;LYB International Finance III LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 03/01/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197917 |
| &nbsp;&nbsp;&nbsp;LyondellBasell Industries NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 02/26/2055 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 77031 |
| &nbsp;&nbsp;&nbsp;Nutrien, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 06/21/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 03/27/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98695 |
| &nbsp;&nbsp;&nbsp;PPG Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 03/15/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 394082 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 06/01/2047 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 83576 |
| &nbsp;&nbsp;&nbsp;Westlake Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 08/15/2061 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 58861 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1983573 |
| **Commercial Services — 0.4%** | **Commercial Services — 0.4%** | **Commercial Services — 0.4%** |
| &nbsp;&nbsp;&nbsp;Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 08/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 08/15/2052 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 47506 |
| &nbsp;&nbsp;&nbsp;Johns Hopkins University |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.71%, 07/01/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50451 |
| &nbsp;&nbsp;&nbsp;Leland Stanford Junior University |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.41%, 06/01/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 58939 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 08/05/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201127 |
| &nbsp;&nbsp;&nbsp;PayPal Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 06/01/2052 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 91411 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 06/01/2034 | $100000 | &nbsp;&nbsp;$101241 |
| &nbsp;&nbsp;&nbsp;President & Fellows of Harvard College |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 11/15/2052 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 151514 |
| &nbsp;&nbsp;&nbsp;S&P Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 03/01/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 388859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 08/01/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202192 |
| &nbsp;&nbsp;&nbsp;Trustees of Princeton University |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.52%, 07/01/2050 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 122417 |
| &nbsp;&nbsp;&nbsp;University of Southern California |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 10/01/2111 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 181069 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 03/15/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 396847 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2094873 |
| **Computers — 0.7%** | **Computers — 0.7%** | **Computers — 0.7%** |
| &nbsp;&nbsp;&nbsp;Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.40%, 08/05/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 369844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.65%, 05/11/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 355614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.65%, 02/08/2031 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 348204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 02/08/2051 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 185157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 05/04/2043 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 249629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 02/23/2046 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 272817 |
| &nbsp;&nbsp;&nbsp;Dell International LLC/EMC Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 10/01/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 410553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 02/01/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 209895 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 10/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194019 |
| &nbsp;&nbsp;&nbsp;HP, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 01/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203804 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 05/15/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 387756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 05/15/2049 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 160544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 02/10/2035 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 404019 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3951113 |
| **Cosmetics/Personal Care — 0.3%** | **Cosmetics/Personal Care — 0.3%** | **Cosmetics/Personal Care — 0.3%** |
| &nbsp;&nbsp;&nbsp;Estee Lauder Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 12/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 183981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 05/15/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96405 |
| &nbsp;&nbsp;&nbsp;Haleon US Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 03/24/2029 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 241533 |
| &nbsp;&nbsp;&nbsp;Kenvue, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 03/22/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 03/22/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 91725 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.20%, 10/29/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 171925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.95%, 04/23/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 177041 |
| &nbsp;&nbsp;&nbsp;Unilever Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 08/12/2051 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 60070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 09/08/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203647 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1430438 |
| **Distribution/Wholesale — 0.0%** | **Distribution/Wholesale — 0.0%** | **Distribution/Wholesale — 0.0%** |
| &nbsp;&nbsp;&nbsp;WW Grainger, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 06/15/2045 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 88126 |
| **Diversified Financial Services — 1.4%** | **Diversified Financial Services — 1.4%** | **Diversified Financial Services — 1.4%** |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC/AerCap Global Aviation Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/29/2028 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 142752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 01/30/2032 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 135704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 10/29/2033 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 131732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 12/15/2031 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 152930 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45%, 04/15/2027 | $400000 | &nbsp;&nbsp;$411446 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 01/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 88630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 03/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203686 |
| &nbsp;&nbsp;&nbsp;Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 11/01/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 225945 |
| &nbsp;&nbsp;&nbsp;American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.35%, 07/20/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 02/16/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 403662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.28%, 07/26/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.49%, 10/30/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 217026 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 12/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 208144 |
| &nbsp;&nbsp;&nbsp;Apollo Global Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 11/15/2033 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 54487 |
| &nbsp;&nbsp;&nbsp;Ares Management Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 11/10/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 210589 |
| &nbsp;&nbsp;&nbsp;BGC Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.60%, 06/10/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103405 |
| &nbsp;&nbsp;&nbsp;Blue Owl Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 04/18/2034 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51506 |
| &nbsp;&nbsp;&nbsp;Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 03/09/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 395792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 06/08/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 213483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.62%, 10/30/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 225207 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 03/03/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 388505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 05/19/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 105994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.14%, 08/24/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 107916 |
| &nbsp;&nbsp;&nbsp;CME Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 03/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 178912 |
| &nbsp;&nbsp;&nbsp;Franklin Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.60%, 10/30/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 172249 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 09/15/2060 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 60042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 03/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 06/15/2052 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 89376 |
| &nbsp;&nbsp;&nbsp;Jefferies Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 01/23/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.20%, 04/14/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 104468 |
| &nbsp;&nbsp;&nbsp;Lazard Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 09/19/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199134 |
| &nbsp;&nbsp;&nbsp;LPL Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 03/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101216 |
| &nbsp;&nbsp;&nbsp;Mastercard, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 06/01/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 382807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 03/26/2050 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 155618 |
| &nbsp;&nbsp;&nbsp;Nasdaq, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 08/15/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101639 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.78%, 07/03/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207612 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 07/15/2046 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 45023 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 12/01/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 392272 |
| &nbsp;&nbsp;&nbsp;Visa, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.90%, 04/15/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 385436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 12/14/2045 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 172005 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7474230 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Electric — 2.7%** | **Electric — 2.7%** | **Electric — 2.7%** |
| &nbsp;&nbsp;&nbsp;AEP Texas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.45%, 05/15/2051 | $200000 | &nbsp;&nbsp;$133664 |
| &nbsp;&nbsp;&nbsp;AEP Transmission Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 03/15/2053 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 192132 |
| &nbsp;&nbsp;&nbsp;AES Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 03/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203015 |
| &nbsp;&nbsp;&nbsp;Alabama Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 03/01/2045 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 154722 |
| &nbsp;&nbsp;&nbsp;Arizona Public Service Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 08/01/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205387 |
| &nbsp;&nbsp;&nbsp;Baltimore Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 06/01/2052 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 168375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 06/01/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95509 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 07/15/2048 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 149431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 04/01/2036 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 213659 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Houston Electric LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35%, 04/01/2051 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 138875 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.85%, 02/15/2055 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 52145 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 06/15/2046 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 150615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 10/01/2042 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 158369 |
| &nbsp;&nbsp;&nbsp;Connecticut Light & Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 04/01/2048 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 156122 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 05/15/2058 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 161236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 05/15/2054 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198637 |
| &nbsp;&nbsp;&nbsp;Constellation Energy Generation LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 10/01/2039 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 212625 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 05/15/2048 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 160369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 05/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197105 |
| &nbsp;&nbsp;&nbsp;Dominion Energy South Carolina, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.05%, 01/15/2038 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 211658 |
| &nbsp;&nbsp;&nbsp;Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 06/01/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 12/01/2044 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 171514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 05/15/2055 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 06/01/2054 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 53340 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 03/15/2045 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 154533 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 06/01/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 07/01/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201807 |
| &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 01/15/2033 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 405129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 01/15/2053 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 190349 |
| &nbsp;&nbsp;&nbsp;Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 08/15/2052 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 174527 |
| &nbsp;&nbsp;&nbsp;Duke Energy Florida LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 10/01/2046 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 142790 |
| &nbsp;&nbsp;&nbsp;Duke Energy Indiana LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 04/01/2053 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 189935 |
| &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 09/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 03/15/2055 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199472 |
| &nbsp;&nbsp;&nbsp;Evergy Kansas Central, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.90%, 11/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 211939 |
| &nbsp;&nbsp;&nbsp;Exelon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 03/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 03/15/2055 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51091 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp;&nbsp;FirstEnergy Transmission LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 01/15/2030 | $200000 | &nbsp;&nbsp;$199626 |
| &nbsp;&nbsp;&nbsp;Florida Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 02/03/2032 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 352671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 03/15/2055 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201864 |
| &nbsp;&nbsp;&nbsp;Georgia Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 05/17/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 03/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203340 |
| &nbsp;&nbsp;&nbsp;Indiana Michigan Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 04/01/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98085 |
| &nbsp;&nbsp;&nbsp;Interstate Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 04/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194246 |
| &nbsp;&nbsp;&nbsp;Kentucky Utilities Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 11/01/2040 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194922 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.40%, 03/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 183114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 09/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203777 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.90%, 06/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 186937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 02/28/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 02/28/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 02/28/2053 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 183654 |
| &nbsp;&nbsp;&nbsp;Northern States Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 03/01/2050 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 390650 |
| &nbsp;&nbsp;&nbsp;NSTAR Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 06/01/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204848 |
| &nbsp;&nbsp;&nbsp;Oglethorpe Power Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.20%, 12/01/2053 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51144 |
| &nbsp;&nbsp;&nbsp;Oklahoma Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 01/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205829 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 06/15/2054 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 193410 |
| &nbsp;&nbsp;&nbsp;Pacific Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 07/01/2030 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 588372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 07/01/2050 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 165284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.70%, 04/01/2053 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204935 |
| &nbsp;&nbsp;&nbsp;PacifiCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 09/15/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 364444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 01/15/2055 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 190178 |
| &nbsp;&nbsp;&nbsp;Public Service Co. of Colorado |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 09/15/2042 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 76581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 04/01/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 91704 |
| &nbsp;&nbsp;&nbsp;Public Service Electric & Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 05/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 192242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 08/01/2053 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195310 |
| &nbsp;&nbsp;&nbsp;Puget Sound Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.76%, 10/01/2039 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203975 |
| &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 04/15/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203900 |
| &nbsp;&nbsp;&nbsp;Sempra |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 10/01/2054 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50469 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 02/01/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 68142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 04/01/2047 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 145525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 03/01/2048 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 74759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 03/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 06/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 06/01/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196134 |
| &nbsp;&nbsp;&nbsp;Southern Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 04/30/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 192691 |
| &nbsp;&nbsp;&nbsp;Tampa Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 03/01/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200157 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp;&nbsp;Tucson Electric Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 09/15/2034 | $200000 | &nbsp;&nbsp;$200679 |
| &nbsp;&nbsp;&nbsp;Union Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 03/15/2055 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 91331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 03/15/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95805 |
| &nbsp;&nbsp;&nbsp;Virginia Electric & Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 11/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 174426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 05/15/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198030 |
| &nbsp;&nbsp;&nbsp;Wisconsin Electric Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 05/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 211607 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14994487 |
| **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp;Emerson Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 12/21/2051 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 62798 |
| **Electronics — 0.1%** | **Electronics — 0.1%** | **Electronics — 0.1%** |
| &nbsp;&nbsp;&nbsp;Amphenol Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 11/15/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97146 |
| &nbsp;&nbsp;&nbsp;Honeywell International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 01/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 07/30/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 402513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 03/01/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 94100 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;788589 |
| **Environmental Control — 0.2%** | **Environmental Control — 0.2%** | **Environmental Control — 0.2%** |
| &nbsp;&nbsp;&nbsp;Republic Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 03/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 182399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 04/01/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100990 |
| &nbsp;&nbsp;&nbsp;Waste Connections, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 02/01/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 92585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 01/15/2052 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 31541 |
| &nbsp;&nbsp;&nbsp;Waste Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 07/03/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 405479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 03/15/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 10/15/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96666 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1009558 |
| **Food — 0.5%** | **Food — 0.5%** | **Food — 0.5%** |
| &nbsp;&nbsp;&nbsp;Conagra Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38%, 11/01/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 185816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 11/01/2048 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 88123 |
| &nbsp;&nbsp;&nbsp;Flowers Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.20%, 03/15/2055 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 48882 |
| &nbsp;&nbsp;&nbsp;General Mills, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 04/17/2048 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 85639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 10/17/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206305 |
| &nbsp;&nbsp;&nbsp;Hershey Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 11/15/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 92790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 06/01/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 60069 |
| &nbsp;&nbsp;&nbsp;J.M. Smucker Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 03/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 91049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 11/15/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 106988 |
| &nbsp;&nbsp;&nbsp;JBS USA Holding LUX SARL/JBS USA Food Co./JBS LUX Co. SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 12/01/2052 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 03/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 217704 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 05/15/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 06/01/2046 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 79449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/15/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 193686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 07/15/2045 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 88601 |
| &nbsp;&nbsp;&nbsp;Kroger Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.70%, 01/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 171796 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Food (continued)** | **Food (continued)** | **Food (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 09/15/2054 | $100000 | &nbsp;&nbsp;$94364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 09/15/2064 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 94312 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 04/13/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 184768 |
| &nbsp;&nbsp;&nbsp;Pilgrim's Pride Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 07/01/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 105107 |
| &nbsp;&nbsp;&nbsp;Sysco Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 12/14/2051 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 63796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.60%, 04/01/2050 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 54232 |
| &nbsp;&nbsp;&nbsp;The Campbell's Company |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 03/15/2048 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 86369 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 08/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194906 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2894510 |
| **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** |
| &nbsp;&nbsp;&nbsp;International Paper Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.35%, 08/15/2048 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 40079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 11/15/2041 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101698 |
| &nbsp;&nbsp;&nbsp;Suzano Austria GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 01/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 87906 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229683 |
| **Gas — 0.4%** | **Gas — 0.4%** | **Gas — 0.4%** |
| &nbsp;&nbsp;&nbsp;Atmos Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 06/15/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 10/01/2048 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 164787 |
| &nbsp;&nbsp;&nbsp;NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.49%, 05/15/2027 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 589439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 03/31/2055 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101278 |
| &nbsp;&nbsp;&nbsp;Piedmont Natural Gas Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 06/01/2029 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 579322 |
| &nbsp;&nbsp;&nbsp;Southern California Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 06/01/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.35%, 11/15/2052 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 214260 |
| &nbsp;&nbsp;&nbsp;Southern Co. Gas Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 03/15/2041 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203467 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250841 |
| **Hand/Machine Tools — 0.0%** | **Hand/Machine Tools — 0.0%** | **Hand/Machine Tools — 0.0%** |
| &nbsp;&nbsp;&nbsp;Stanley Black & Decker, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 11/15/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 11/15/2048 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 42492 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141711 |
| **Healthcare-Products — 0.3%** | **Healthcare-Products — 0.3%** | **Healthcare-Products — 0.3%** |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 11/30/2046 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 93297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 04/01/2039 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 108240 |
| &nbsp;&nbsp;&nbsp;Baxter International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 12/01/2051 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 63040 |
| &nbsp;&nbsp;&nbsp;Boston Scientific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 03/01/2049 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 89152 |
| &nbsp;&nbsp;&nbsp;Danaher Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 12/10/2051 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 62128 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 11/22/2052 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 107500 |
| &nbsp;&nbsp;&nbsp;Medtronic, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 03/15/2045 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 89505 |
| &nbsp;&nbsp;&nbsp;Solventum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 03/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.90%, 04/30/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99153 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Healthcare-Products (continued)** | **Healthcare-Products (continued)** | **Healthcare-Products (continued)** |
| &nbsp;&nbsp;&nbsp;Stryker Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 06/15/2050 | $100000 | &nbsp;&nbsp;$64970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 02/10/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201841 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 10/15/2031 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 347709 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 11/24/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 176750 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1709053 |
| **Healthcare-Services — 1.3%** | **Healthcare-Services — 1.3%** | **Healthcare-Services — 1.3%** |
| &nbsp;&nbsp;&nbsp;Aetna, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 12/15/2037 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 107881 |
| &nbsp;&nbsp;&nbsp;Ascension Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.53%, 11/15/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 92740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 11/15/2046 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 118611 |
| &nbsp;&nbsp;&nbsp;Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 07/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 182354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 03/01/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 83950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 12/15/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95089 |
| &nbsp;&nbsp;&nbsp;Cigna Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 10/15/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 398576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 07/15/2046 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 172796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 12/15/2048 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 86447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 03/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205582 |
| &nbsp;&nbsp;&nbsp;CommonSpirit Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.35%, 11/01/2042 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 83428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 12/01/2054 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 188091 |
| &nbsp;&nbsp;&nbsp;Elevance Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 05/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 179912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 02/15/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 88203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 02/15/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 10/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 02/15/2055 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95484 |
| &nbsp;&nbsp;&nbsp;HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 03/15/2052 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 79924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 06/15/2049 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 88446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 09/01/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 03/01/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 09/15/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 04/01/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97102 |
| &nbsp;&nbsp;&nbsp;Humana, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 04/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 04/15/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 92912 |
| &nbsp;&nbsp;&nbsp;Kaiser Foundation Hospitals |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 05/01/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 05/01/2047 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 245009 |
| &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.35%, 04/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197927 |
| &nbsp;&nbsp;&nbsp;New York & Presbyterian Hospital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 08/01/2119 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 135024 |
| &nbsp;&nbsp;&nbsp;Northwell Healthcare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.26%, 11/01/2047 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 79633 |
| &nbsp;&nbsp;&nbsp;NYU Langone Hospitals |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 07/01/2043 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200996 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 12/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 03/30/2045 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 87248 |
| &nbsp;&nbsp;&nbsp;Sutter Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.29%, 08/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 180065 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 06/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 12/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 01/15/2047 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 159078 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Healthcare-Services (continued)** | **Healthcare-Services (continued)** | **Healthcare-Services (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 04/15/2033 | $200000 | &nbsp;&nbsp;$193778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 07/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 04/15/2063 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 87171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 02/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 07/15/2054 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 190519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 07/15/2064 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 03/15/2036 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 02/15/2053 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 148018 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7054805 |
| **Household Products/Wares — 0.1%** | **Household Products/Wares — 0.1%** | **Household Products/Wares — 0.1%** |
| &nbsp;&nbsp;&nbsp;Church & Dwight Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 06/15/2052 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 89519 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 02/07/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 64746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 04/25/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 193299 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347564 |
| **Insurance — 0.9%** | **Insurance — 0.9%** | **Insurance — 0.9%** |
| &nbsp;&nbsp;&nbsp;Aegon, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 04/11/2048 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200300 |
| &nbsp;&nbsp;&nbsp;Allstate Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 12/15/2046 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 81420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 06/24/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203929 |
| &nbsp;&nbsp;&nbsp;Aon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 12/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200553 |
| &nbsp;&nbsp;&nbsp;Aon Corp./Aon Global Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 02/28/2052 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 73484 |
| &nbsp;&nbsp;&nbsp;Aon North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 03/01/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97411 |
| &nbsp;&nbsp;&nbsp;Arthur J Gallagher & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 03/02/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 02/15/2055 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 94337 |
| &nbsp;&nbsp;&nbsp;Athene Holding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 04/01/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98740 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 03/15/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 01/15/2051 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 58842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 03/15/2052 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 76276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 08/15/2048 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 82971 |
| &nbsp;&nbsp;&nbsp;Brighthouse Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 05/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100189 |
| &nbsp;&nbsp;&nbsp;Brown & Brown, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 03/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 175542 |
| &nbsp;&nbsp;&nbsp;Chubb INA Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 03/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202141 |
| &nbsp;&nbsp;&nbsp;Chubb INA Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.35%, 11/03/2045 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 85773 |
| &nbsp;&nbsp;&nbsp;Equitable Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 04/20/2048 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 87841 |
| &nbsp;&nbsp;&nbsp;Everest Reinsurance Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 10/15/2050 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 33939 |
| &nbsp;&nbsp;&nbsp;Fairfax Financial Holdings, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.35%, 03/22/2054 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50408 |
| &nbsp;&nbsp;&nbsp;Hartford Insurance Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 08/19/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 187619 |
| &nbsp;&nbsp;&nbsp;Lincoln National Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 01/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 185370 |
| &nbsp;&nbsp;&nbsp;Manulife Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 03/16/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 94448 |
| &nbsp;&nbsp;&nbsp;Markel Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 05/16/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99572 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 11/15/2030 | $200000 | &nbsp;&nbsp;$178628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 03/15/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 03/15/2055 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95396 |
| &nbsp;&nbsp;&nbsp;MetLife, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 03/23/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 01/15/2054 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 187515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 02/06/2041 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102990 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 03/15/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96157 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 03/15/2048 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 82127 |
| &nbsp;&nbsp;&nbsp;Prudential Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 03/13/2051 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 73024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.91%, 12/07/2047 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 77466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.35%, 02/25/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 82083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 03/15/2054 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51928 |
| &nbsp;&nbsp;&nbsp;Reinsurance Group of America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 05/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196438 |
| &nbsp;&nbsp;&nbsp;Travelers Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 07/24/2035 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 25062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 05/25/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97128 |
| &nbsp;&nbsp;&nbsp;Unum Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 06/15/2051 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 73832 |
| &nbsp;&nbsp;&nbsp;Willis North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 09/15/2048 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 87679 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4879611 |
| **Internet — 0.6%** | **Internet — 0.6%** | **Internet — 0.6%** |
| &nbsp;&nbsp;&nbsp;Alibaba Group Holding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 12/06/2047 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 163583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 11/28/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 192969 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.90%, 08/15/2040 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 66502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 08/15/2060 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 105103 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 05/12/2051 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 67207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 08/22/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 392483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 04/13/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 190865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 04/13/2052 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 157148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 08/22/2047 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 164638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 08/22/2057 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 163436 |
| &nbsp;&nbsp;&nbsp;eBay, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 03/11/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 184989 |
| &nbsp;&nbsp;&nbsp;Expedia Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 02/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 188510 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 08/15/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 394959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 08/15/2052 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 84084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 08/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 08/15/2054 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 193264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 08/15/2064 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97018 |
| &nbsp;&nbsp;&nbsp;Netflix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 08/15/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97934 |
| &nbsp;&nbsp;&nbsp;Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 09/15/2054 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 46708 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3051015 |
| **Investment Companies — 0.2%** | **Investment Companies — 0.2%** | **Investment Companies — 0.2%** |
| &nbsp;&nbsp;&nbsp;Ares Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 06/15/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 94497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 03/01/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102125 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Investment Companies (continued)** | **Investment Companies (continued)** | **Investment Companies (continued)** |
| &nbsp;&nbsp;&nbsp;Blackstone Private Credit Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 03/15/2027 | $100000 | &nbsp;&nbsp;$97310 |
| &nbsp;&nbsp;&nbsp;Blackstone Secured Lending Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13%, 02/15/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95636 |
| &nbsp;&nbsp;&nbsp;Blue Owl Capital Corp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 01/15/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96365 |
| &nbsp;&nbsp;&nbsp;Blue Owl Credit Income Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.65%, 03/15/2031 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 01/15/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 53147 |
| &nbsp;&nbsp;&nbsp;FS KKR Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 10/12/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 92201 |
| &nbsp;&nbsp;&nbsp;Golub Capital BDC, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.05%, 02/15/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95366 |
| &nbsp;&nbsp;&nbsp;Golub Capital Private Credit Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 09/12/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50136 |
| &nbsp;&nbsp;&nbsp;Sixth Street Lending Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 07/15/2030\* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50945 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;879138 |
| **Iron/Steel — 0.1%** | **Iron/Steel — 0.1%** | **Iron/Steel — 0.1%** |
| &nbsp;&nbsp;&nbsp;ArcelorMittal SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.35%, 06/17/2054 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.55%, 11/29/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207898 |
| &nbsp;&nbsp;&nbsp;Nucor Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.40%, 12/01/2037 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 54670 |
| &nbsp;&nbsp;&nbsp;Vale Overseas, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 07/08/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 188453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.40%, 06/28/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98204 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599486 |
| **Lodging — 0.1%** | **Lodging — 0.1%** | **Lodging — 0.1%** |
| &nbsp;&nbsp;&nbsp;Las Vegas Sands Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 08/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205581 |
| &nbsp;&nbsp;&nbsp;Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.85%, 04/15/2031 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 362605 |
| &nbsp;&nbsp;&nbsp;Sands China, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 08/08/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202326 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770512 |
| **Machinery-Construction & Mining — 0.1%** | **Machinery-Construction & Mining — 0.1%** | **Machinery-Construction & Mining — 0.1%** |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 11/15/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 403540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 11/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202921 |
| &nbsp;&nbsp;&nbsp;Caterpillar, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 04/09/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 69476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 05/15/2064 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 43749 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719686 |
| **Machinery-Diversified — 0.1%** | **Machinery-Diversified — 0.1%** | **Machinery-Diversified — 0.1%** |
| &nbsp;&nbsp;&nbsp;Deere & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 09/07/2049 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 65961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 01/19/2055 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102585 |
| &nbsp;&nbsp;&nbsp;Ingersoll Rand, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.18%, 06/15/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 06/15/2054 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49462 |
| &nbsp;&nbsp;&nbsp;John Deere Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 01/20/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202464 |
| &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.36%, 02/15/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 69054 |
| &nbsp;&nbsp;&nbsp;Regal Rexnord Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.05%, 04/15/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103015 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694880 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Media — 0.8%** | **Media — 0.8%** | **Media — 0.8%** |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC/Charter Communications Operating Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 04/01/2061 | $100000 | &nbsp;&nbsp;$61483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 03/01/2050 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 155077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 10/23/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.48%, 10/23/2045 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.55%, 06/01/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 210887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.83%, 10/23/2055 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99620 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.35%, 01/15/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 388471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.89%, 11/01/2051 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 120159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.94%, 11/01/2056 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 115543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.99%, 11/01/2063 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 111482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 04/01/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 393206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.45%, 02/01/2050 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 136560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 03/01/2038 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 172206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 05/15/2053 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 183561 |
| &nbsp;&nbsp;&nbsp;Fox Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 10/13/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 215740 |
| &nbsp;&nbsp;&nbsp;Grupo Televisa SAB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 03/11/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 112428 |
| &nbsp;&nbsp;&nbsp;NBCUniversal Media LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 01/15/2043 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 170470 |
| &nbsp;&nbsp;&nbsp;Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 06/01/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 05/19/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 91685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 03/15/2043 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 75687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 05/19/2050 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 38595 |
| &nbsp;&nbsp;&nbsp;Time Warner Cable Enterprises LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.38%, 07/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 115273 |
| &nbsp;&nbsp;&nbsp;Time Warner Cable LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 06/15/2039 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102491 |
| &nbsp;&nbsp;&nbsp;TWDC Enterprises 18 Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 06/15/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 391938 |
| &nbsp;&nbsp;&nbsp;Walt Disney Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 09/01/2049 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 62495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 01/13/2051 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 73355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 05/13/2060 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 72558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 03/23/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 88835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 10/15/2045 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 91851 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4350312 |
| **Mining — 0.2%** | **Mining — 0.2%** | **Mining — 0.2%** |
| &nbsp;&nbsp;&nbsp;Barrick North America Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 05/01/2043 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50262 |
| &nbsp;&nbsp;&nbsp;BHP Billiton Finance USA, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 09/08/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 09/08/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98843 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 03/15/2043 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 94223 |
| &nbsp;&nbsp;&nbsp;Newmont Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 10/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 188410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 03/15/2042 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 94245 |
| &nbsp;&nbsp;&nbsp;Rio Tinto Finance USA PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 03/09/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 91742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 03/14/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202942 |
| &nbsp;&nbsp;&nbsp;Rio Tinto Finance USA, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.13%, 07/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 215445 |
| &nbsp;&nbsp;&nbsp;Southern Copper Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 11/08/2042 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 92824 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1335620 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Miscellaneous Manufacturing — 0.2%** | **Miscellaneous Manufacturing — 0.2%** | **Miscellaneous Manufacturing — 0.2%** |
| &nbsp;&nbsp;&nbsp;3M Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 10/15/2027 | $200000 | &nbsp;&nbsp;$194007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 09/14/2048 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 78643 |
| &nbsp;&nbsp;&nbsp;Eaton Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.35%, 05/18/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 08/23/2052 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 44418 |
| &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 06/14/2049 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 78721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 09/15/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199774 |
| &nbsp;&nbsp;&nbsp;Textron, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 03/01/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194503 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890402 |
| **Multi-National — 1.8%** | **Multi-National — 1.8%** | **Multi-National — 1.8%** |
| &nbsp;&nbsp;&nbsp;Asian Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 01/20/2027 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 578023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 04/25/2028 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 597302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 01/12/2034 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 394155 |
| &nbsp;&nbsp;&nbsp;European Bank for Reconstruction & Development |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 01/25/2029 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 603004 |
| &nbsp;&nbsp;&nbsp;European Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38%, 03/15/2027 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 575213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 02/15/2029 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 601169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 02/13/2034 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 592411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 03/19/2027 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 603229 |
| &nbsp;&nbsp;&nbsp;Inter-American Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 09/17/2031 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 389039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 07/16/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 02/15/2030 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 612869 |
| &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.88%, 05/14/2030 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 432771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 06/15/2027 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 984352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 01/10/2031 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 997118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 05/06/2032 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 494597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 03/20/2030 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 503210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 01/15/2032 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 513234 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9671006 |
| **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp;CDW LLC/CDW Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 02/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 189508 |
| **Oil & Gas — 1.0%** | **Oil & Gas — 1.0%** | **Oil & Gas — 1.0%** |
| &nbsp;&nbsp;&nbsp;APA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 01/15/2030\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 143685 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 02/24/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 63697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 03/17/2052 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 62874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 02/08/2061 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 64157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.23%, 11/06/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.81%, 02/13/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.89%, 09/11/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.23%, 11/17/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101186 |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 06/01/2047 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 85816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 12/15/2034\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99501 |
| &nbsp;&nbsp;&nbsp;Cenovus Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 06/15/2047 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 89247 |
| &nbsp;&nbsp;&nbsp;Chevron Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.08%, 05/11/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 66760 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.03%, 03/15/2062 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 71773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 01/15/2055 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 94337 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 03/15/2054 | $100000 | &nbsp;&nbsp;$95090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.95%, 04/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 217905 |
| &nbsp;&nbsp;&nbsp;Coterra Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 05/15/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98789 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.95%, 04/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 230241 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 04/18/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 04/18/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 92879 |
| &nbsp;&nbsp;&nbsp;EOG Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 04/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99568 |
| &nbsp;&nbsp;&nbsp;EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 04/01/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 02/01/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205662 |
| &nbsp;&nbsp;&nbsp;Equinor ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 04/06/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 189607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 04/06/2050 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 151265 |
| &nbsp;&nbsp;&nbsp;Expand Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 01/15/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101267 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.44%, 08/16/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 187985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.61%, 10/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 184209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 08/16/2049 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 66562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.45%, 04/15/2051 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 70580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.33%, 03/19/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 82484 |
| &nbsp;&nbsp;&nbsp;Hess Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 02/15/2041 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101213 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 03/01/2041 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 104302 |
| &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 10/01/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45%, 09/15/2036 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 09/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 211116 |
| &nbsp;&nbsp;&nbsp;Ovintiv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.10%, 07/15/2053 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51870 |
| &nbsp;&nbsp;&nbsp;Phillips 66 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 05/01/2042 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99394 |
| &nbsp;&nbsp;&nbsp;Phillips 66 Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 12/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 188936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.68%, 02/15/2045 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 83791 |
| &nbsp;&nbsp;&nbsp;Shell Finance US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 04/06/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 68146 |
| &nbsp;&nbsp;&nbsp;Shell International Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 05/11/2045 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 169007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 12/15/2038 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 220788 |
| &nbsp;&nbsp;&nbsp;Suncor Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/15/2047 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 73605 |
| &nbsp;&nbsp;&nbsp;TotalEnergies Capital International SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 05/29/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 66030 |
| &nbsp;&nbsp;&nbsp;TotalEnergies Capital SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 04/05/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.49%, 04/05/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95803 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 04/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 114157 |
| &nbsp;&nbsp;&nbsp;Woodside Finance, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 05/19/2035 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51046 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5722735 |
| **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** |
| &nbsp;&nbsp;&nbsp;Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.08%, 12/15/2047 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 77824 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Oil & Gas Services (continued)** | **Oil & Gas Services (continued)** | **Oil & Gas Services (continued)** |
| &nbsp;&nbsp;&nbsp;Halliburton Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.45%, 09/15/2039 | $100000 | &nbsp;&nbsp;$115750 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193574 |
| **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** |
| &nbsp;&nbsp;&nbsp;Amcor Finance USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 05/15/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 399363 |
| &nbsp;&nbsp;&nbsp;Sonoco Products Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 09/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199013 |
| &nbsp;&nbsp;&nbsp;WRKCo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 03/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202590 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800966 |
| **Pharmaceuticals — 1.5%** | **Pharmaceuticals — 1.5%** | **Pharmaceuticals — 1.5%** |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 11/21/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 190663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 11/21/2039 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 174467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 11/21/2049 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 163135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 05/14/2045 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 133945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 03/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 03/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 03/15/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 03/15/2064 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96265 |
| &nbsp;&nbsp;&nbsp;AstraZeneca PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38%, 08/06/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 173138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 08/17/2048 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 171815 |
| &nbsp;&nbsp;&nbsp;Becton Dickinson & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.82%, 05/20/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 184808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.67%, 06/06/2047 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 85875 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 03/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 180816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 10/26/2049 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 160334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 02/22/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 02/22/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 02/22/2064 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.40%, 11/15/2063 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 107142 |
| &nbsp;&nbsp;&nbsp;Cardinal Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 11/15/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97831 |
| &nbsp;&nbsp;&nbsp;Cencora, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 12/15/2047 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 79912 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 08/15/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 284231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 03/25/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 03/25/2048 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 172087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 07/20/2045 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 87747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 02/21/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 06/01/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 06/01/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 94814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.05%, 06/01/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97740 |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 02/12/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 303115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 02/09/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 02/27/2063 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 89708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/09/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 92310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 02/09/2064 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 91820 |
| &nbsp;&nbsp;&nbsp;GlaxoSmithKline Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 05/15/2038 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 110410 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 01/15/2048 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 151216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 03/01/2046 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 79836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 06/01/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 06/01/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98585 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| &nbsp;&nbsp;&nbsp;Merck & Co, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 12/10/2061 | $100000 | &nbsp;&nbsp;$57426 |
| &nbsp;&nbsp;&nbsp;Merck & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.70%, 06/10/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 382479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.35%, 06/24/2040 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 139375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 05/17/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 90947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 05/17/2063 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 91048 |
| &nbsp;&nbsp;&nbsp;Novartis Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20%, 08/14/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 181258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40%, 05/06/2044 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 88311 |
| &nbsp;&nbsp;&nbsp;Pfizer Investment Enterprises Pte., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 05/19/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 05/19/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 05/19/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 05/19/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 93376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.34%, 05/19/2063 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 91542 |
| &nbsp;&nbsp;&nbsp;Pfizer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 12/15/2036 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 181907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 03/15/2049 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 78027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 12/15/2046 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 81229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 09/15/2048 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 162624 |
| &nbsp;&nbsp;&nbsp;Takeda Pharmaceutical Co., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.05%, 03/31/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 178725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.18%, 07/09/2050 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 130439 |
| &nbsp;&nbsp;&nbsp;Viatris, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 06/22/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 177312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 06/22/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 65710 |
| &nbsp;&nbsp;&nbsp;Zoetis, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 09/12/2047 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 78673 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8515157 |
| **Pipelines — 1.2%** | **Pipelines — 1.2%** | **Pipelines — 1.2%** |
| &nbsp;&nbsp;&nbsp;Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 10/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197830 |
| &nbsp;&nbsp;&nbsp;DCP Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 05/15/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101307 |
| &nbsp;&nbsp;&nbsp;Eastern Energy Gas Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 10/15/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95734 |
| &nbsp;&nbsp;&nbsp;Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 11/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 188632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 06/20/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 04/05/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.70%, 11/15/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 107946 |
| &nbsp;&nbsp;&nbsp;Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 05/15/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 83577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 07/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 10/01/2047 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 89000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 02/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 05/15/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 94523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.05%, 09/01/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.20%, 04/01/2055 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 04/15/2049 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98643 |
| &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 01/31/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 02/15/2045 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 184880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 02/16/2055 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 02/15/2042 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200402 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 03/01/2041 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.95%, 01/15/2038 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 110070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.30%, 08/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 112107 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 02/15/2051 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 68385 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 03/01/2028 | $200000 | &nbsp;&nbsp;$199314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 06/01/2045 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 93853 |
| &nbsp;&nbsp;&nbsp;MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 03/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 12/01/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 09/01/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 03/14/2052 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 82545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 02/15/2049 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 90401 |
| &nbsp;&nbsp;&nbsp;ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 09/24/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40%, 10/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 11/01/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 91834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.05%, 09/01/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 209872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 09/01/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103423 |
| &nbsp;&nbsp;&nbsp;Plains All American Pipeline LP/PAA Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 06/01/2042 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 88894 |
| &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.90%, 09/15/2037 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 52380 |
| &nbsp;&nbsp;&nbsp;South Bow USA Infrastructure Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.03%, 10/01/2029\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199825 |
| &nbsp;&nbsp;&nbsp;Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 08/15/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 05/15/2055 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97697 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.20%, 10/15/2037 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 208908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 06/01/2065 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50420 |
| &nbsp;&nbsp;&nbsp;Valero Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 03/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200133 |
| &nbsp;&nbsp;&nbsp;Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 02/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 192090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 02/01/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 83900 |
| &nbsp;&nbsp;&nbsp;Williams Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 03/15/2031 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 357421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 08/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 09/15/2045 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 90135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 03/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99611 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6714997 |
| **Private Equity — 0.0%** | **Private Equity — 0.0%** | **Private Equity — 0.0%** |
| &nbsp;&nbsp;&nbsp;Brookfield Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.97%, 03/04/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.35%, 01/05/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 107667 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208362 |
| **REITS — 1.2%** | **REITS — 1.2%** | **REITS — 1.2%** |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.88%, 02/01/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 160817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 03/15/2052 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 67601 |
| &nbsp;&nbsp;&nbsp;American Homes 4 Rent LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 02/01/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101660 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 06/15/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 64910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 03/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 07/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 11/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207622 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 03/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 181819 |
| &nbsp;&nbsp;&nbsp;Boston Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 10/01/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 80206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 01/30/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 183411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 06/21/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 189475 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **REITS (continued)** | **REITS (continued)** | **REITS (continued)** |
| &nbsp;&nbsp;&nbsp;Brixmor Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 04/01/2032 | $100000 | &nbsp;&nbsp;$101094 |
| &nbsp;&nbsp;&nbsp;Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 04/01/2041 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 71476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 01/15/2051 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 65583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 02/15/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 294054 |
| &nbsp;&nbsp;&nbsp;Equinix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 07/15/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 62569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 04/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 94299 |
| &nbsp;&nbsp;&nbsp;ERP Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 09/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96844 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 04/01/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102284 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 02/01/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101294 |
| &nbsp;&nbsp;&nbsp;Federal Realty OP LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 06/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 189770 |
| &nbsp;&nbsp;&nbsp;GLP Capital LP/GLP Financing II, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 09/15/2054 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49258 |
| &nbsp;&nbsp;&nbsp;Healthpeak OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 01/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 187487 |
| &nbsp;&nbsp;&nbsp;Highwoods Realty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 02/01/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 86331 |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 09/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 185495 |
| &nbsp;&nbsp;&nbsp;Invitation Homes Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 08/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 169771 |
| &nbsp;&nbsp;&nbsp;Kilroy Realty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 11/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 80651 |
| &nbsp;&nbsp;&nbsp;Kimco Realty OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 04/01/2045 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 82376 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartments LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.70%, 02/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 171166 |
| &nbsp;&nbsp;&nbsp;NNN REIT, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 06/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101956 |
| &nbsp;&nbsp;&nbsp;Omega Healthcare Investors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 02/01/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 91454 |
| &nbsp;&nbsp;&nbsp;Piedmont Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 07/15/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 104614 |
| &nbsp;&nbsp;&nbsp;Prologis LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 03/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 06/15/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 93357 |
| &nbsp;&nbsp;&nbsp;Public Storage Operating Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 08/01/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102128 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 01/15/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 09/01/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95226 |
| &nbsp;&nbsp;&nbsp;Regency Centers LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 06/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 192872 |
| &nbsp;&nbsp;&nbsp;Sabra Health Care LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 12/01/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 89063 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 06/15/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 392962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.65%, 01/15/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 110374 |
| &nbsp;&nbsp;&nbsp;Sun Communities Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 07/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 176642 |
| &nbsp;&nbsp;&nbsp;UDR, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 08/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 181546 |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 07/01/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102768 |
| &nbsp;&nbsp;&nbsp;VICI Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 11/15/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 05/15/2052 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 45862 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **REITS (continued)** | **REITS (continued)** | **REITS (continued)** |
| &nbsp;&nbsp;&nbsp;Welltower OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 06/15/2032 | $100000 | &nbsp;&nbsp;$94937 |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 04/15/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 389542 |
| &nbsp;&nbsp;&nbsp;WP Carey, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.40%, 02/01/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 176208 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6777950 |
| **Retail — 0.9%** | **Retail — 0.9%** | **Retail — 0.9%** |
| &nbsp;&nbsp;&nbsp;AutoZone, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 08/01/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198752 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.60%, 04/20/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 355570 |
| &nbsp;&nbsp;&nbsp;Dollar General Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 04/03/2030 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 142223 |
| &nbsp;&nbsp;&nbsp;Dollar Tree, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 05/15/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 396158 |
| &nbsp;&nbsp;&nbsp;Home Depot, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 09/14/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 388706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 09/15/2056 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 138294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 09/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 06/25/2054 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 190529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 12/16/2036 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 213589 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 05/03/2047 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 154436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 04/15/2033 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 402943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 07/01/2033 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 405953 |
| &nbsp;&nbsp;&nbsp;McDonald's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 07/01/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 394297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 12/09/2045 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 179716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.30%, 03/01/2038 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 216882 |
| &nbsp;&nbsp;&nbsp;Starbucks Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55%, 11/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 180851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 11/15/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 68938 |
| &nbsp;&nbsp;&nbsp;Target Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 10/15/2037 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 222798 |
| &nbsp;&nbsp;&nbsp;Walmart, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 09/22/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 184852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.80%, 09/22/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 173310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 04/15/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 86884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 04/15/2041 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 208561 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5104006 |
| **Semiconductors — 0.9%** | **Semiconductors — 0.9%** | **Semiconductors — 0.9%** |
| &nbsp;&nbsp;&nbsp;Analog Devices, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.45%, 06/15/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 04/01/2054 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 48044 |
| &nbsp;&nbsp;&nbsp;Applied Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 06/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203736 |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.47%, 04/15/2034\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 88878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 02/15/2041\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 158268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 02/15/2051\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 149604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 02/15/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 397914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 11/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 04/15/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 302682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 11/15/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102472 |
| &nbsp;&nbsp;&nbsp;Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 08/12/2041 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 131486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 12/15/2032 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 371000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 03/25/2050 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 158460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 02/10/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199999 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Semiconductors (continued)** | **Semiconductors (continued)** | **Semiconductors (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 02/10/2053 | $100000 | &nbsp;&nbsp;$90033 |
| &nbsp;&nbsp;&nbsp;KLA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 02/01/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 07/15/2052 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 90807 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 06/15/2060 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 92467 |
| &nbsp;&nbsp;&nbsp;Marvell Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 02/15/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 311457 |
| &nbsp;&nbsp;&nbsp;Micron Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.37%, 11/01/2041 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 74113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 01/15/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102534 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 06/15/2031 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 352974 |
| &nbsp;&nbsp;&nbsp;NXP BV/NXP Funding LLC/NXP USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 05/11/2041 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 73332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99702 |
| &nbsp;&nbsp;&nbsp;QUALCOMM, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.30%, 05/20/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 370974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 05/20/2045 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 181735 |
| &nbsp;&nbsp;&nbsp;Texas Instruments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 05/18/2063 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 135826 |
| &nbsp;&nbsp;&nbsp;TSMC Arizona Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 10/25/2051 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 146319 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4729466 |
| **Software — 0.9%** | **Software — 0.9%** | **Software — 0.9%** |
| &nbsp;&nbsp;&nbsp;AppLovin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 12/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202417 |
| &nbsp;&nbsp;&nbsp;Electronic Arts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.85%, 02/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 173123 |
| &nbsp;&nbsp;&nbsp;Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 07/01/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 383804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 03/15/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 401078 |
| &nbsp;&nbsp;&nbsp;Intuit, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 09/15/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99013 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.53%, 06/01/2050 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 123032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.68%, 06/01/2060 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 116413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.92%, 03/17/2052 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 197927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 06/15/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 397123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 08/08/2046 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 160221 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 04/01/2040 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 157854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 04/01/2050 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 137334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 04/01/2060 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 101122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 03/25/2051 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 72644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 07/15/2046 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 152756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 09/27/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 08/03/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 404352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 07/15/2040 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 192481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 08/03/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 02/06/2053 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 46194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 11/09/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 107645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.90%, 11/09/2052 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 164541 |
| &nbsp;&nbsp;&nbsp;Paychex, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 04/15/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205533 |
| &nbsp;&nbsp;&nbsp;Salesforce, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.95%, 07/15/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 87375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 07/15/2051 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 63672 |
| &nbsp;&nbsp;&nbsp;Synopsys, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 04/01/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 04/01/2055 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98608 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp;Workday, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 04/01/2027 | $400000 | &nbsp;&nbsp;$393656 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5038111 |
| **Telecommunications — 1.5%** | **Telecommunications — 1.5%** | **Telecommunications — 1.5%** |
| &nbsp;&nbsp;&nbsp;America Movil SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 04/22/2049 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 163525 |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55%, 12/01/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 166757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 06/01/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 180803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 09/15/2055 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 134093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 06/01/2051 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 140935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 12/01/2057 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 138933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 05/15/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 189770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 05/15/2046 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 174032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 02/15/2034 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 408772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 08/15/2040 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 03/01/2041 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 106404 |
| &nbsp;&nbsp;&nbsp;Bell Telephone Co. of Canada or Bell Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.46%, 04/01/2048 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 80573 |
| &nbsp;&nbsp;&nbsp;British Telecommunications PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 12/04/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203433 |
| &nbsp;&nbsp;&nbsp;Cisco Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 02/26/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 02/26/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.90%, 02/15/2039 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 213878 |
| &nbsp;&nbsp;&nbsp;Corning, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 11/15/2068 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 48090 |
| &nbsp;&nbsp;&nbsp;Deutsche Telekom International Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 06/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 117311 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 04/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203998 |
| &nbsp;&nbsp;&nbsp;Orange SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 03/01/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 241370 |
| &nbsp;&nbsp;&nbsp;Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 03/15/2052 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 81117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202557 |
| &nbsp;&nbsp;&nbsp;Sprint Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 11/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 213819 |
| &nbsp;&nbsp;&nbsp;Telefonica Emisiones SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.21%, 03/08/2047 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 132770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.05%, 06/20/2036 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 166184 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.05%, 02/15/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 377540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 02/15/2051 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 132689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 10/15/2052 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 133404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 04/15/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 395262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 04/15/2050 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 164264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 04/15/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 399533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 01/15/2053 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 192586 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 01/20/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 172156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.36%, 03/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 171942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 11/20/2050 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 154942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.99%, 10/30/2056 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 119939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 03/22/2041 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 77101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 03/22/2051 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 177950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 03/22/2061 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 171833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.02%, 12/03/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 294811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 08/10/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 193431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.52%, 09/15/2048 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 83546 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| &nbsp;&nbsp;&nbsp;Vodafone Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 06/19/2049 | $200000 | &nbsp;&nbsp;$174450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 05/30/2038 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 191427 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7992955 |
| **Toys/Games/Hobbies — 0.0%** | **Toys/Games/Hobbies — 0.0%** | **Toys/Games/Hobbies — 0.0%** |
| &nbsp;&nbsp;&nbsp;Hasbro, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 11/19/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 192815 |
| **Transportation — 0.6%** | **Transportation — 0.6%** | **Transportation — 0.6%** |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 01/15/2053 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 166195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 09/01/2043 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 190925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 04/15/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 93354 |
| &nbsp;&nbsp;&nbsp;Canadian National Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 05/01/2050 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 117174 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 12/02/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 174936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 12/02/2051 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 130622 |
| &nbsp;&nbsp;&nbsp;CSX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 03/01/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 395062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 11/01/2046 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 77249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10%, 03/15/2044 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 82448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 11/15/2052 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 83659 |
| &nbsp;&nbsp;&nbsp;FedEx Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 08/05/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 377485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 11/15/2045\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 164912 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 10/01/2042 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 121745 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 06/01/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 84066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 08/01/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95209 |
| &nbsp;&nbsp;&nbsp;Union Pacific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 02/05/2050 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 136616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 02/14/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 70309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 08/15/2039 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 166189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.84%, 03/20/2060 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 71667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 02/20/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202143 |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 03/03/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 89882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 05/14/2035 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 04/01/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 93475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 05/22/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 05/14/2055 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50854 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3382953 |
| **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** |
| &nbsp;&nbsp;&nbsp;GATX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 03/15/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.05%, 06/05/2054 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50288 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252503 |
| **Water — 0.1%** | **Water — 0.1%** | **Water — 0.1%** |
| &nbsp;&nbsp;&nbsp;American Water Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.59%, 10/15/2037 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 222537 |
| &nbsp;&nbsp;&nbsp;Essential Utilities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 01/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202446 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424983 |
| **Total Corporate Bonds & Notes<br> (cost $195,477,634)** |  | &nbsp;&nbsp;&nbsp;&nbsp;193453577 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 53.6%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 53.6%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 53.6%** |
| **U.S. Government — 53.1%** | **U.S. Government — 53.1%** | **U.S. Government — 53.1%** |
| &nbsp;&nbsp;&nbsp;United States Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38%, 11/15/2040 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3800859 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** |
| **U.S. Government (continued)** | **U.S. Government (continued)** | **U.S. Government (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 08/15/2041 | $1500000 | &nbsp;&nbsp;$987715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.88%, 02/15/2041 to 11/15/2051 | &nbsp;&nbsp;12000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6873984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 08/15/2051 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2840234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 02/15/2052 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2406875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 02/15/2042 to 05/15/2051 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6100625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 08/15/2042 to 11/15/2042 | &nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7555860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 05/15/2043 to 05/15/2052 | &nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7351797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 11/15/2044 to 02/15/2049 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5260664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 02/15/2054 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1797969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 05/15/2044 to 02/15/2055 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5795000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 11/15/2043 to 05/15/2055 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3451094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 11/15/2028 to 02/15/2029 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7297969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 02/15/2031 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2134375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 08/15/2028 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5233008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 11/15/2026 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3101836 |
| &nbsp;&nbsp;&nbsp;United States Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50%, 04/30/2027 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2825508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.63%, 03/31/2027 to 08/15/2030 | &nbsp;&nbsp;22100000 | &nbsp;&nbsp;&nbsp;&nbsp; 19797312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75%, 01/31/2028 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4165137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.88%, 09/30/2026 to 11/15/2030 | &nbsp;&nbsp;10500000 | &nbsp;&nbsp;&nbsp;&nbsp; 9508184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00%, 07/31/2028 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4595508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13%, 10/31/2026 to 02/15/2031 | &nbsp;&nbsp;19400000 | &nbsp;&nbsp;&nbsp;&nbsp; 17628156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.25%, 11/30/2026 to 08/15/2031 | &nbsp;&nbsp;30400000 | &nbsp;&nbsp;&nbsp;&nbsp; 28016028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38%, 08/31/2026 to 11/15/2031 | &nbsp;&nbsp;15500000 | &nbsp;&nbsp;&nbsp;&nbsp; 13997871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 11/30/2028 to 02/15/2030 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4551641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.63%, 08/15/2029 to 05/15/2031 | &nbsp;&nbsp; 5300000 | &nbsp;&nbsp;&nbsp;&nbsp; 4778836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 12/31/2026 to 11/15/2029 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp;&nbsp;&nbsp; 8536133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.88%, 02/15/2032 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4362305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 11/15/2026 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4868750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 02/15/2027 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4868164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 05/15/2029 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2366309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 05/31/2027 to 07/31/2029 | &nbsp;&nbsp; 7700000 | &nbsp;&nbsp;&nbsp;&nbsp; 7422101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 04/30/2027 to 08/15/2032 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4786445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 05/15/2028 to 05/15/2032 | &nbsp;&nbsp; 6500000 | &nbsp;&nbsp;&nbsp;&nbsp; 6226269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 11/15/2028 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2929102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 06/30/2027 to 06/30/2029 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4913711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 05/15/2033 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2834648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 01/31/2030 to 02/15/2033 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp;&nbsp;&nbsp; 8778633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 04/15/2028 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1992500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 07/31/2030 to 08/15/2034 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7785468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 02/28/2030 to 02/15/2034 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7911406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 10/31/2029 to 05/31/2032 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1507188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 11/30/2026 to 05/15/2035 | &nbsp;&nbsp;14000000 | &nbsp;&nbsp;&nbsp;&nbsp; 14007304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 12/15/2026 to 05/15/2034 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp;&nbsp;&nbsp; 8038476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 11/15/2033 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2035469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 05/31/2031 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5149023 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;293173449 |
| **U.S. Government Agency — 0.5%** | **U.S. Government Agency — 0.5%** | **U.S. Government Agency — 0.5%** |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 11/16/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 392868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 07/15/2036 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 427462 |
| &nbsp;&nbsp;&nbsp;Federal National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 05/15/2029 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 540710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 11/15/2030 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1125023 |
| &nbsp;&nbsp;&nbsp;Tennessee Valley Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 02/01/2055 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 193673 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2679736 |
| **Total U.S. Government & Agency Obligations<br> (cost $306,232,406)** |  | &nbsp;&nbsp;&nbsp;&nbsp;295853185 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS — 2.4%** | **FOREIGN GOVERNMENT OBLIGATIONS — 2.4%** | **FOREIGN GOVERNMENT OBLIGATIONS — 2.4%** |
| **Regional(State/Province) — 0.6%** | **Regional(State/Province) — 0.6%** | **Regional(State/Province) — 0.6%** |
| &nbsp;&nbsp;&nbsp;Province of Alberta Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 06/26/2029 | $600000 | &nbsp;&nbsp;$608149 |
| &nbsp;&nbsp;&nbsp;Province of British Columbia Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 01/24/2028 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 609178 |
| &nbsp;&nbsp;&nbsp;Province of Manitoba Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 10/25/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 368724 |
| &nbsp;&nbsp;&nbsp;Province of Ontario Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.60%, 02/25/2031 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 522211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 09/17/2029 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 591135 |
| &nbsp;&nbsp;&nbsp;Province of Quebec Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 04/13/2028 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 593709 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3293106 |
| **Sovereign — 1.8%** | **Sovereign — 1.8%** | **Sovereign — 1.8%** |
| &nbsp;&nbsp;&nbsp;Export-Import Bank of Korea |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/11/2028 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 610081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 09/18/2028 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 614261 |
| &nbsp;&nbsp;&nbsp;Government of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 04/30/2029 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 614097 |
| &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 07/21/2027 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 585762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 07/19/2028 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 609311 |
| &nbsp;&nbsp;&nbsp;Japan International Cooperation Agency |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 05/23/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 398366 |
| &nbsp;&nbsp;&nbsp;Oriental Republic of Uruguay |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 06/18/2050 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 183262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 10/28/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 209200 |
| &nbsp;&nbsp;&nbsp;Republic of Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 05/07/2041 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 147818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 01/22/2061 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 119700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.34%, 03/07/2042 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 171820 |
| &nbsp;&nbsp;&nbsp;Republic of Hungary |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.63%, 03/29/2041 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 114209 |
| &nbsp;&nbsp;&nbsp;Republic of Indonesia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.05%, 03/12/2051 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 132273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 10/15/2050 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 162114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 09/20/2032 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 396046 |
| &nbsp;&nbsp;&nbsp;Republic of Italy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 05/06/2051 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 139217 |
| &nbsp;&nbsp;&nbsp;Republic of Korea |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 07/03/2029 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 608328 |
| &nbsp;&nbsp;&nbsp;Republic of Panama |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 01/19/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 164500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.87%, 07/23/2060 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 116364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 04/01/2056 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 132412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.40%, 02/14/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196750 |
| &nbsp;&nbsp;&nbsp;Republic of Peru |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.78%, 12/01/2060 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 105956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 01/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 168508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 11/21/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 244420 |
| &nbsp;&nbsp;&nbsp;Republic of Philippines |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 02/02/2042 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 161070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 01/17/2048 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.90%, 02/04/2050 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205579 |
| &nbsp;&nbsp;&nbsp;Republic of Poland |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 02/12/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 03/18/2054 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 186964 |
| &nbsp;&nbsp;&nbsp;State of Israel |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 01/15/2050 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 130614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 03/12/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 02/19/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202332 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |
| **Sovereign (continued)** | **Sovereign (continued)** | **Sovereign (continued)** |
| &nbsp;&nbsp;&nbsp;United Mexican States |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 02/12/2034 | $200000 | &nbsp;&nbsp;$167500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.77%, 05/24/2061 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 116900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 05/13/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 413200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 05/07/2036 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 294000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.34%, 05/04/2053 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 182700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.35%, 02/09/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 05/13/2037 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 05/13/2055 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206000 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10224017 |
| **Total Foreign Government Obligations<br> (cost $13,467,043)** |  | &nbsp;&nbsp;&nbsp;&nbsp;13517123 |
| **MUNICIPAL SECURITIES — 0.6%** | **MUNICIPAL SECURITIES — 0.6%** | **MUNICIPAL SECURITIES — 0.6%** |
| &nbsp;&nbsp;&nbsp;Bay Area Toll Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.04%, 04/01/2050 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 226934 |
| &nbsp;&nbsp;&nbsp;Board of Regents of the University of Texas System<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.79%, 08/15/2046 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 184189 |
| &nbsp;&nbsp;&nbsp;Chicago Transit Authority Sales Tax Receipts Fund<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.20%, 12/01/2040 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103119 |
| &nbsp;&nbsp;&nbsp;City of Atlanta GA Water & Wastewater Revenue<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.26%, 11/01/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 163901 |
| &nbsp;&nbsp;&nbsp;City of New York NY<br> General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.26%, 10/01/2044 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96853 |
| &nbsp;&nbsp;&nbsp;Municipal Electric Authority of Georgia<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.64%, 04/01/2057 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 107182 |
| &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.41%, 01/01/2040 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 237285 |
| &nbsp;&nbsp;&nbsp;New York City Municipal Water Finance Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.01%, 06/15/2042 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207150 |
| &nbsp;&nbsp;&nbsp;New York State Dormitory Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 03/15/2039 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102362 |
| &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.29%, 08/01/2069 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 107642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.93%, 10/01/2051 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 183192 |
| &nbsp;&nbsp;&nbsp;Regents of the University of California Medical Center Pooled Revenue<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 05/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.55%, 05/15/2048 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 211974 |
| &nbsp;&nbsp;&nbsp;State Board of Administration Finance Corp.<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.71%, 07/01/2027 | &nbsp;&nbsp; 28000 | &nbsp;&nbsp;&nbsp;&nbsp; 26599 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.55%, 04/01/2039 | $200000 | &nbsp;&nbsp;$239093 |
| &nbsp;&nbsp;&nbsp;State of California<br> General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 10/01/2041 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 04/01/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 231493 |
| &nbsp;&nbsp;&nbsp;State of Illinois<br> General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 06/01/2033 | &nbsp;&nbsp; 82892 | &nbsp;&nbsp;&nbsp;&nbsp; 84687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 02/01/2035 | &nbsp;&nbsp; 153846 | &nbsp;&nbsp;&nbsp;&nbsp; 161625 |
| &nbsp;&nbsp;&nbsp;Texas Department of Transportation State Highway Fund<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.18%, 04/01/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101611 |
| &nbsp;&nbsp;&nbsp;University of Virginia<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.26%, 09/01/2050 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 112902 |
| **Total Municipal Securities<br> (cost $3,279,036)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3290864 |
| **UNAFFILIATED INVESTMENT COMPANIES — 6.9%** | **UNAFFILIATED INVESTMENT COMPANIES — 6.9%** |  |
| &nbsp;&nbsp;&nbsp;iShares 10-20 Year Treasury Bond ETF | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 4522050 |
| &nbsp;&nbsp;&nbsp;iShares 1-3 Year Treasury Bond ETF | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 10315000 |
| &nbsp;&nbsp;&nbsp;iShares 20+ Year Treasury Bond ETF | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 6084400 |
| &nbsp;&nbsp;&nbsp;iShares 3-7 Year Treasury Bond ETF | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 8873250 |
| &nbsp;&nbsp;&nbsp;iShares 7-10 Year Treasury Bond ETF | &nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 8066500 |
| **Total Unaffiliated Investment Companies<br> (cost $40,151,034)** |  | &nbsp;&nbsp;&nbsp;&nbsp;37861200 |
| **Total Long-Term Investment Securities<br> (cost $558,607,153)** |  | &nbsp;&nbsp;&nbsp;&nbsp;543975949 |
| **SHORT-TERM INVESTMENTS — 0.8%** | **SHORT-TERM INVESTMENTS — 0.8%** |  |
| **Unaffiliated Investment Companies — 0.8%** | **Unaffiliated Investment Companies — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(1)<br> (cost $4,673,036) | &nbsp;&nbsp; 4673036 | &nbsp;&nbsp;&nbsp;&nbsp; 4673036 |
| **TOTAL INVESTMENTS<br> (cost $563,280,189)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.3% | &nbsp;&nbsp;&nbsp;&nbsp;548648985 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3676914 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$552325899 |

---

\* Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The SA Fixed Income Index Portfolio has no right to demand registration of these securities. At July 31, 2025, the aggregate value of these securities was $1,055,618 representing 0.2% of net assets.

(1) The rate shown is the 7-day yield as of July 31, 2025.

(2) See Note 4 for cost of investments on a tax basis.

DAC—Designated Activity Company <br> ETF—Exchange Traded Fund

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp;$— | &nbsp;&nbsp;$193453577 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$193453577 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;295853185 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;295853185 |
| Foreign Government Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;13517123 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;13517123 |
| Municipal Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3290864 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3290864 |
| Unaffiliated Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;37861200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;37861200 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;4673036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4673036 |
| **Total Investments at Value** | &nbsp;&nbsp;$42534236 | &nbsp;&nbsp;$506114749 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$548648985 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES — 33.6%** | **CORPORATE BONDS & NOTES — 33.6%** | **CORPORATE BONDS & NOTES — 33.6%** |
| **Advertising — 0.0%** | **Advertising — 0.0%** | **Advertising — 0.0%** |
| &nbsp;&nbsp;&nbsp;Omnicom Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 04/30/2030 | $200000 | &nbsp;&nbsp;$181035 |
| **Aerospace/Defense — 0.4%** | **Aerospace/Defense — 0.4%** | **Aerospace/Defense — 0.4%** |
| &nbsp;&nbsp;&nbsp;Boeing Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 05/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.30%, 05/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 211155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.53%, 05/01/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 108841 |
| &nbsp;&nbsp;&nbsp;General Dynamics Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 05/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198235 |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 06/01/2034 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 152788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 01/15/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202466 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 01/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103172 |
| &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 03/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99372 |
| &nbsp;&nbsp;&nbsp;RTX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 03/15/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 394519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 11/16/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10%, 03/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 107830 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1980141 |
| **Agriculture — 0.4%** | **Agriculture — 0.4%** | **Agriculture — 0.4%** |
| &nbsp;&nbsp;&nbsp;Altria Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 02/04/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 86114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.20%, 11/01/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 209677 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 08/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97664 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.26%, 03/25/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 188882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 08/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.42%, 08/02/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 216846 |
| &nbsp;&nbsp;&nbsp;Bunge, Ltd. Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10%, 01/07/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198383 |
| &nbsp;&nbsp;&nbsp;Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 11/17/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 02/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 02/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 11/17/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 208706 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1921427 |
| **Airlines — 0.1%** | **Airlines — 0.1%** | **Airlines — 0.1%** |
| &nbsp;&nbsp;&nbsp;American Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 12/15/2029 | &nbsp;&nbsp; 60700 | &nbsp;&nbsp;&nbsp;&nbsp; 58050 |
| &nbsp;&nbsp;&nbsp;Southwest Airlines Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 06/15/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201258 |
| &nbsp;&nbsp;&nbsp;United Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 09/01/2031 | &nbsp;&nbsp; 68029 | &nbsp;&nbsp;&nbsp;&nbsp; 64119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 04/15/2029 | &nbsp;&nbsp; 36878 | &nbsp;&nbsp;&nbsp;&nbsp; 37580 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361007 |
| **Auto Manufacturers — 0.9%** | **Auto Manufacturers — 0.9%** | **Auto Manufacturers — 0.9%** |
| &nbsp;&nbsp;&nbsp;American Honda Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 07/10/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203082 |
| &nbsp;&nbsp;&nbsp;Ford Motor Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 02/12/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 169444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10%, 08/19/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200331 |
| &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/13/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 183574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 05/28/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.11%, 05/03/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.80%, 05/12/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206420 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** |
| &nbsp;&nbsp;&nbsp;General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 01/12/2032 | $100000 | &nbsp;&nbsp;$88252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 04/06/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 10/06/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 04/04/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 01/07/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 06/23/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.90%, 01/07/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10%, 01/07/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103180 |
| &nbsp;&nbsp;&nbsp;Honda Motor Co., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.53%, 03/10/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 388240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.69%, 07/08/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200126 |
| &nbsp;&nbsp;&nbsp;PACCAR Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 01/31/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 303209 |
| &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 01/12/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 403430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 01/05/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 05/16/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 01/09/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204801 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4459909 |
| **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** |
| &nbsp;&nbsp;&nbsp;Aptiv Swiss Holdings Ltd |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 09/13/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198827 |
| &nbsp;&nbsp;&nbsp;Lear Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 05/30/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 94114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 09/15/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98464 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391405 |
| **Banks — 9.4%** | **Banks — 9.4%** | **Banks — 9.4%** |
| &nbsp;&nbsp;&nbsp;Banco Bilbao Vizcaya Argentaria SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 03/13/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205531 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 02/23/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 04/12/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.59%, 08/08/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 412193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.94%, 11/07/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 225320 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.90%, 07/23/2031 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 351455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.48%, 09/21/2036 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 170283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 10/21/2027 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 489830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.42%, 12/20/2028 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 488248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 03/08/2037 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 183321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.27%, 07/23/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 07/22/2028 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 504441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.98%, 01/24/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 303724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.02%, 07/22/2033 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 404179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.43%, 08/15/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.47%, 01/23/2035 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 307878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.52%, 10/25/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200192 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 09/14/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.51%, 06/04/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 208130 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.05%, 01/26/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 387536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.94%, 02/11/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 10/25/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 412339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.83%, 10/25/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 211947 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 02/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 02/14/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203466 |
| &nbsp;&nbsp;&nbsp;Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.56%, 09/23/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 184289 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.34%, 01/10/2028 | $400000 | &nbsp;&nbsp;$397656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.84%, 09/10/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 402031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.34%, 09/10/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.22%, 05/09/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 212645 |
| &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.24%, 06/28/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.26%, 04/08/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205205 |
| &nbsp;&nbsp;&nbsp;Citibank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.91%, 05/29/2030 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 253922 |
| &nbsp;&nbsp;&nbsp;Citibank, N.A. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 09/29/2028 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 520789 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.52%, 11/03/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 174595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.89%, 01/10/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 395907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.41%, 03/31/2031 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 395288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 09/29/2027 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 299158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.33%, 03/27/2036 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 06/11/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.02%, 01/24/2036 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.17%, 05/25/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 209152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.27%, 11/17/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 215421 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.84%, 01/23/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206521 |
| &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA/NY |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.04%, 03/05/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 404967 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.74%, 01/07/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 180570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.37%, 01/10/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.82%, 11/20/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 212876 |
| &nbsp;&nbsp;&nbsp;Discover Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 02/06/2030 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 230945 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.34%, 07/27/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 210198 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.95%, 10/21/2027 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 484195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 07/21/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 174712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 02/24/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 179813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 11/16/2026 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.22%, 05/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.48%, 08/23/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 299981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.02%, 10/23/2035 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 394529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.22%, 04/23/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.73%, 04/25/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 04/25/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 209563 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.97%, 05/22/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 389470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.04%, 03/13/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 396176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 03/31/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.29%, 11/19/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 408391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 08/11/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.16%, 03/09/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.39%, 11/03/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 423169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.40%, 11/13/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 223548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.11%, 11/03/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 231353 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.27%, 01/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.71%, 02/02/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102298 |
| &nbsp;&nbsp;&nbsp;ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 03/28/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 192286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.08%, 09/11/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203062 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.52%, 04/22/2031 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 274109 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55%, 11/08/2032 | $200000 | &nbsp;&nbsp;$175834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.58%, 04/22/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 178534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.96%, 05/13/2031 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 370579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.78%, 02/01/2028 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 494623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.32%, 04/26/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 398873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.91%, 07/25/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 10/22/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/22/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.04%, 01/23/2028 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 503928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.29%, 07/22/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 07/24/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.57%, 04/22/2036 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.72%, 09/14/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 208407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.07%, 10/22/2027 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 509060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.09%, 10/23/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 209503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 09/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 235926 |
| &nbsp;&nbsp;&nbsp;KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.12%, 04/04/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202148 |
| &nbsp;&nbsp;&nbsp;Kreditanstalt fuer Wiederaufbau |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 05/20/2027 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 491286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 08/27/2027 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1981761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 03/18/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 10/29/2030 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 517315 |
| &nbsp;&nbsp;&nbsp;Landwirtschaftliche Rentenbank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 11/15/2027 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 580840 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 03/22/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.68%, 01/05/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.72%, 06/05/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207497 |
| &nbsp;&nbsp;&nbsp;M&T Bank Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.41%, 10/30/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 216472 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.31%, 07/20/2032 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 348020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 09/13/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 406607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.41%, 04/19/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206268 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 09/11/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 297190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 07/06/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 208494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.78%, 07/06/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 310170 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 01/22/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 184315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.94%, 01/21/2033 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 357446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 01/20/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 396095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.21%, 04/20/2028 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 497774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.16%, 04/20/2029 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 508061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.23%, 01/15/2031 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 409747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.32%, 07/19/2035 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 405034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.59%, 01/18/2036 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.83%, 04/19/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 209651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 01/19/2038 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206333 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.59%, 07/22/2028(1) | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 491417 |
| &nbsp;&nbsp;&nbsp;National Australia Bank, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.94%, 01/12/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 305091 |
| &nbsp;&nbsp;&nbsp;NatWest Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.52%, 09/30/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.02%, 03/02/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 211451 |
| &nbsp;&nbsp;&nbsp;Northern Trust Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.95%, 05/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 179655 |
| &nbsp;&nbsp;&nbsp;Oesterreichische Kontrollbank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 01/24/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203991 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.58%, 06/12/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 412440 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.58%, 01/29/2036 | $200000 | &nbsp;&nbsp;$205096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 10/20/2034 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 446815 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.52%, 10/18/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 10/18/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.97%, 01/24/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/01/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203295 |
| &nbsp;&nbsp;&nbsp;Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 09/06/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203550 |
| &nbsp;&nbsp;&nbsp;Santander UK Group Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.82%, 11/03/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 391644 |
| &nbsp;&nbsp;&nbsp;State Street Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.53%, 02/20/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.99%, 03/18/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 404555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.16%, 05/18/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203695 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.90%, 09/17/2028 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 462822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.04%, 07/16/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 189114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.77%, 01/13/2033 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 420229 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 03/10/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.46%, 06/08/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.78%, 12/17/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.99%, 04/05/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203656 |
| &nbsp;&nbsp;&nbsp;Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.71%, 01/24/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.87%, 06/08/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 104555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.16%, 10/30/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 215887 |
| &nbsp;&nbsp;&nbsp;UBS AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 02/15/2028 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 268559 |
| &nbsp;&nbsp;&nbsp;US Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 07/22/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 02/12/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.68%, 01/23/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.78%, 06/12/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207069 |
| &nbsp;&nbsp;&nbsp;US Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.51%, 10/22/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 399830 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 10/30/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 373658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.53%, 03/24/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 393662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.48%, 04/04/2031 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 397742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 07/25/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.24%, 01/24/2031 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 409526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.39%, 04/24/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.56%, 07/25/2034 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 412766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.57%, 07/25/2029 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 514843 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.04%, 08/26/2027 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 299123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 04/16/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.82%, 11/17/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 220096 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;46664469 |
| **Beverages — 0.5%** | **Beverages — 0.5%** | **Beverages — 0.5%** |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 06/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202825 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 01/05/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 176243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 03/25/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197691 |
| &nbsp;&nbsp;&nbsp;Constellation Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 02/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196081 |
| &nbsp;&nbsp;&nbsp;Diageo Capital PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 04/29/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 359127 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Beverages (continued)** | **Beverages (continued)** | **Beverages (continued)** |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 04/15/2029 | $200000 | &nbsp;&nbsp;$196151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 05/25/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 05/15/2030 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49988 |
| &nbsp;&nbsp;&nbsp;PepsiCo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 07/29/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 188267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 05/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201891 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/07/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/23/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100203 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2271181 |
| **Biotechnology — 0.3%** | **Biotechnology — 0.3%** | **Biotechnology — 0.3%** |
| &nbsp;&nbsp;&nbsp;Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35%, 02/22/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 185103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 08/18/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 03/02/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 03/02/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102004 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 11/15/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 406390 |
| &nbsp;&nbsp;&nbsp;Royalty Pharma PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15%, 09/02/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 171348 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1265628 |
| **Building Materials — 0.2%** | **Building Materials — 0.2%** | **Building Materials — 0.2%** |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.72%, 02/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 92785 |
| &nbsp;&nbsp;&nbsp;CRH SMW Finance DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 01/09/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204063 |
| &nbsp;&nbsp;&nbsp;Fortune Brands Home & Security, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 03/25/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 93453 |
| &nbsp;&nbsp;&nbsp;Johnson Controls International PLC/Tyco Fire & Security Finance SCA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 09/16/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 85353 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 12/01/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100310 |
| &nbsp;&nbsp;&nbsp;Owens Corning |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 06/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103821 |
| &nbsp;&nbsp;&nbsp;Trane Technologies Financing, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 06/13/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101431 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 06/01/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95173 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;876389 |
| **Chemicals — 0.3%** | **Chemicals — 0.3%** | **Chemicals — 0.3%** |
| &nbsp;&nbsp;&nbsp;Air Products & Chemicals, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.85%, 05/15/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 191884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.05%, 05/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 179777 |
| &nbsp;&nbsp;&nbsp;Dow Chemical Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 11/30/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 300852 |
| &nbsp;&nbsp;&nbsp;Eastman Chemical Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 08/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202249 |
| &nbsp;&nbsp;&nbsp;Ecolab, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 06/15/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100202 |
| &nbsp;&nbsp;&nbsp;Huntsman International LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 05/01/2029 | &nbsp;&nbsp; 32000 | &nbsp;&nbsp;&nbsp;&nbsp; 30414 |
| &nbsp;&nbsp;&nbsp;LYB International Finance II BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 03/02/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196420 |
| &nbsp;&nbsp;&nbsp;Nutrien, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 06/21/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101220 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 05/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 90315 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1393333 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Commercial Services — 0.4%** | **Commercial Services — 0.4%** | **Commercial Services — 0.4%** |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.25%, 09/01/2030 | $300000 | &nbsp;&nbsp;$258960 |
| &nbsp;&nbsp;&nbsp;Equifax, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 09/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201295 |
| &nbsp;&nbsp;&nbsp;Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 08/15/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 282061 |
| &nbsp;&nbsp;&nbsp;GXO Logistics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 05/06/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 104014 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 01/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195349 |
| &nbsp;&nbsp;&nbsp;PayPal Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 04/01/2035 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 150453 |
| &nbsp;&nbsp;&nbsp;President & Fellows of Harvard College |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.89%, 03/15/2030 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51188 |
| &nbsp;&nbsp;&nbsp;Quanta Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 10/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 183846 |
| &nbsp;&nbsp;&nbsp;S&P Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 03/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 189120 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 03/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198424 |
| &nbsp;&nbsp;&nbsp;Yale University |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.48%, 04/15/2030 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 44126 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1858836 |
| **Computers — 0.6%** | **Computers — 0.6%** | **Computers — 0.6%** |
| &nbsp;&nbsp;&nbsp;Accenture Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 10/04/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196950 |
| &nbsp;&nbsp;&nbsp;Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.40%, 08/05/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 184922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35%, 02/09/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 395442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35%, 08/08/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 187915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 05/12/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201321 |
| &nbsp;&nbsp;&nbsp;Dell International LLC/EMC Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 04/01/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 10/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 04/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102121 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 10/15/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 07/01/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204880 |
| &nbsp;&nbsp;&nbsp;HP, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 04/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 190939 |
| &nbsp;&nbsp;&nbsp;IBM International Capital Pte., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 02/05/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99416 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 05/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 193878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 02/10/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 302346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 02/06/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99998 |
| &nbsp;&nbsp;&nbsp;Kyndryl Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 10/15/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 89623 |
| &nbsp;&nbsp;&nbsp;Leidos, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 05/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196492 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3152746 |
| **Cosmetics/Personal Care — 0.3%** | **Cosmetics/Personal Care — 0.3%** | **Cosmetics/Personal Care — 0.3%** |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 03/01/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 03/01/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200936 |
| &nbsp;&nbsp;&nbsp;Estee Lauder Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 04/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 183692 |
| &nbsp;&nbsp;&nbsp;Haleon US Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 03/24/2027 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 245818 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Cosmetics/Personal Care (continued)** | **Cosmetics/Personal Care (continued)** | **Cosmetics/Personal Care (continued)** |
| &nbsp;&nbsp;&nbsp;Kenvue, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 03/22/2028 | $200000 | &nbsp;&nbsp;$204111 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.95%, 04/23/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 177041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 01/26/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199740 |
| &nbsp;&nbsp;&nbsp;Unilever Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 08/12/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 172697 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1586505 |
| **Diversified Financial Services — 1.2%** | **Diversified Financial Services — 1.2%** | **Diversified Financial Services — 1.2%** |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC/AerCap Global Aviation Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/29/2028 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 142752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 01/30/2032 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 135704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 07/21/2027 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 147461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 06/06/2028 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 154530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.15%, 09/30/2030 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 159151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45%, 04/15/2027 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 154292 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 01/15/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 44315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 10/01/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 94950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 12/01/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 12/15/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102923 |
| &nbsp;&nbsp;&nbsp;Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 11/01/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 225945 |
| &nbsp;&nbsp;&nbsp;American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.42%, 08/03/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.09%, 01/30/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 02/16/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.28%, 07/27/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.67%, 04/25/2036 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 155629 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 12/15/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 104072 |
| &nbsp;&nbsp;&nbsp;Apollo Global Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 11/15/2033 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 54487 |
| &nbsp;&nbsp;&nbsp;Blue Owl Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 06/10/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 89301 |
| &nbsp;&nbsp;&nbsp;Brookfield Finance I UK Plc / Brookfield Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.34%, 01/30/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 85762 |
| &nbsp;&nbsp;&nbsp;Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 01/31/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 295569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.18%, 01/30/2036 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 06/08/2034 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 320224 |
| &nbsp;&nbsp;&nbsp;Cboe Global Markets, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 01/12/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98957 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 03/20/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 94478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 03/03/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 03/03/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 89835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.14%, 08/24/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 107916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.20%, 11/17/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 105531 |
| &nbsp;&nbsp;&nbsp;CI Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 12/17/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 88764 |
| &nbsp;&nbsp;&nbsp;CME Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 06/15/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98956 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.85%, 09/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 82894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 09/15/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99292 |
| &nbsp;&nbsp;&nbsp;Jefferies Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 10/15/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 87174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.20%, 04/14/2034 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 52234 |
| &nbsp;&nbsp;&nbsp;Lazard Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 09/19/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99567 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| &nbsp;&nbsp;&nbsp;LPL Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 11/17/2028 | $100000 | &nbsp;&nbsp;$106181 |
| &nbsp;&nbsp;&nbsp;Mastercard, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 03/09/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 05/09/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100607 |
| &nbsp;&nbsp;&nbsp;Nasdaq, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 02/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103750 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.17%, 07/14/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 186727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.61%, 07/14/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 176080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.07%, 07/12/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207989 |
| &nbsp;&nbsp;&nbsp;Radian Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 03/15/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99947 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 10/28/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 87137 |
| &nbsp;&nbsp;&nbsp;Visa, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10%, 02/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 169664 |
| &nbsp;&nbsp;&nbsp;Voya Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 09/20/2034 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 48833 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6166193 |
| **Electric — 2.3%** | **Electric — 2.3%** | **Electric — 2.3%** |
| &nbsp;&nbsp;&nbsp;Ameren Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 03/15/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100695 |
| &nbsp;&nbsp;&nbsp;American Electric Power Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 03/01/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207413 |
| &nbsp;&nbsp;&nbsp;Baltimore Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 06/01/2035 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 153767 |
| &nbsp;&nbsp;&nbsp;Black Hills Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 01/15/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103962 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Houston Electric LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 03/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 03/01/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198961 |
| &nbsp;&nbsp;&nbsp;Connecticut Light & Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 03/15/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 08/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199319 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison Co. of New York, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 12/01/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 297749 |
| &nbsp;&nbsp;&nbsp;Consumers Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 11/15/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 295758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 05/15/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200670 |
| &nbsp;&nbsp;&nbsp;Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 05/15/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 08/01/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201459 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.90%, 04/01/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 375886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 05/15/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101553 |
| &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 01/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 01/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202564 |
| &nbsp;&nbsp;&nbsp;Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 03/15/2028 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 499134 |
| &nbsp;&nbsp;&nbsp;Entergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.90%, 06/15/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 280536 |
| &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 09/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201247 |
| &nbsp;&nbsp;&nbsp;Evergy Kansas Central, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 04/01/2027 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 294223 |
| &nbsp;&nbsp;&nbsp;Exelon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35%, 03/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 184737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 03/15/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 305014 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp;&nbsp;FirstEnergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 07/15/2027 | $200000 | &nbsp;&nbsp;$197518 |
| &nbsp;&nbsp;&nbsp;Florida Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 02/03/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 176335 |
| &nbsp;&nbsp;&nbsp;Georgia Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 05/17/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 03/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203340 |
| &nbsp;&nbsp;&nbsp;IPALCO Enterprises, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 04/01/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100532 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 03/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.02%, 11/01/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 190054 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.90%, 06/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 186937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 06/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 179852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 03/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 03/15/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.70%, 09/01/2054 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51570 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 05/15/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 369725 |
| &nbsp;&nbsp;&nbsp;Pacific Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10%, 08/01/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 189910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 07/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.40%, 06/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 211019 |
| &nbsp;&nbsp;&nbsp;PacifiCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 02/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201618 |
| &nbsp;&nbsp;&nbsp;PPL Capital Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 04/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195709 |
| &nbsp;&nbsp;&nbsp;Public Service Co. of Colorado |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.88%, 06/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 171968 |
| &nbsp;&nbsp;&nbsp;Public Service Co. of Oklahoma |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 01/15/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199552 |
| &nbsp;&nbsp;&nbsp;Public Service Electric & Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 03/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198123 |
| &nbsp;&nbsp;&nbsp;Sempra |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 06/15/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 08/01/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204435 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 06/01/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 03/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 03/01/2035 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 11/01/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207107 |
| &nbsp;&nbsp;&nbsp;Southern Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 04/30/2030 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 289036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 03/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207215 |
| &nbsp;&nbsp;&nbsp;Union Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 04/01/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101303 |
| &nbsp;&nbsp;&nbsp;Virginia Electric & Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 03/15/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200697 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38%, 10/15/2027 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 281138 |
| &nbsp;&nbsp;&nbsp;Wisconsin Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 07/01/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 284283 |
| &nbsp;&nbsp;&nbsp;Xcel Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 04/15/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101855 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11445250 |
| **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp;Emerson Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 12/21/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 92973 |
| **Electronics — 0.3%** | **Electronics — 0.3%** | **Electronics — 0.3%** |
| &nbsp;&nbsp;&nbsp;Allegion PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 10/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 191188 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Electronics (continued)** | **Electronics (continued)** | **Electronics (continued)** |
| &nbsp;&nbsp;&nbsp;Amphenol Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20%, 09/15/2031 | $100000 | &nbsp;&nbsp;$87339 |
| &nbsp;&nbsp;&nbsp;Arrow Electronics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 08/21/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101385 |
| &nbsp;&nbsp;&nbsp;Flex, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 01/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101176 |
| &nbsp;&nbsp;&nbsp;Honeywell International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 09/01/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 85088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 11/01/2026 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 390991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 01/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97415 |
| &nbsp;&nbsp;&nbsp;Jabil, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 01/12/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 295849 |
| &nbsp;&nbsp;&nbsp;TD SYNNEX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 08/09/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 186891 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1537322 |
| **Environmental Control — 0.2%** | **Environmental Control — 0.2%** | **Environmental Control — 0.2%** |
| &nbsp;&nbsp;&nbsp;Republic Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 05/15/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 297656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 04/01/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100990 |
| &nbsp;&nbsp;&nbsp;Veralto Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 09/18/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102566 |
| &nbsp;&nbsp;&nbsp;Waste Connections, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 06/01/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 91167 |
| &nbsp;&nbsp;&nbsp;Waste Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 11/15/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 04/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 03/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101118 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;986100 |
| **Food — 0.6%** | **Food — 0.6%** | **Food — 0.6%** |
| &nbsp;&nbsp;&nbsp;Kellanova |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 11/15/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 391532 |
| &nbsp;&nbsp;&nbsp;Conagra Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 11/01/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200838 |
| &nbsp;&nbsp;&nbsp;General Mills, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 02/10/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 392998 |
| &nbsp;&nbsp;&nbsp;Hershey Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.70%, 06/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 176346 |
| &nbsp;&nbsp;&nbsp;J.M. Smucker Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 03/15/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 185343 |
| &nbsp;&nbsp;&nbsp;JBS USA Holding LUX SARL/JBS USA Food Co./JBS LUX Co. SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 05/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 175101 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 05/15/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197555 |
| &nbsp;&nbsp;&nbsp;Kroger Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 01/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201184 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 05/07/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199061 |
| &nbsp;&nbsp;&nbsp;Pilgrim's Pride Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 04/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 191162 |
| &nbsp;&nbsp;&nbsp;Sysco Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 09/23/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204221 |
| &nbsp;&nbsp;&nbsp;The Campbell's Company |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 03/21/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100993 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.35%, 03/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198449 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2814783 |
| **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** |
| &nbsp;&nbsp;&nbsp;Suzano Austria GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 09/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 185898 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Gas — 0.2%** | **Gas — 0.2%** | **Gas — 0.2%** |
| &nbsp;&nbsp;&nbsp;National Fuel Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 09/01/2028 | $200000 | &nbsp;&nbsp;$198954 |
| &nbsp;&nbsp;&nbsp;NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 05/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 191493 |
| &nbsp;&nbsp;&nbsp;Piedmont Natural Gas Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 06/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 193107 |
| &nbsp;&nbsp;&nbsp;Southern California Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55%, 02/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 183686 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767240 |
| **Hand/Machine Tools — 0.0%** | **Hand/Machine Tools — 0.0%** | **Hand/Machine Tools — 0.0%** |
| &nbsp;&nbsp;&nbsp;Stanley Black & Decker, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 03/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 89305 |
| **Healthcare-Products — 0.3%** | **Healthcare-Products — 0.3%** | **Healthcare-Products — 0.3%** |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 11/30/2026 | &nbsp;&nbsp; 283000 | &nbsp;&nbsp;&nbsp;&nbsp; 281279 |
| &nbsp;&nbsp;&nbsp;Baxter International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.54%, 02/01/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 173829 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 06/15/2035 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.91%, 11/22/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 212397 |
| &nbsp;&nbsp;&nbsp;Solventum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 03/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205768 |
| &nbsp;&nbsp;&nbsp;Stryker Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 02/10/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 02/10/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101555 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.09%, 08/10/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204343 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 11/24/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 176750 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1508622 |
| **Healthcare-Services — 0.8%** | **Healthcare-Services — 0.8%** | **Healthcare-Services — 0.8%** |
| &nbsp;&nbsp;&nbsp;Advocate Health & Hospitals Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.83%, 08/15/2028 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49279 |
| &nbsp;&nbsp;&nbsp;Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 174192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 12/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 190177 |
| &nbsp;&nbsp;&nbsp;Cigna Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 03/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 177193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 10/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199288 |
| &nbsp;&nbsp;&nbsp;CommonSpirit Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35%, 10/01/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.21%, 12/01/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204073 |
| &nbsp;&nbsp;&nbsp;Elevance Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 09/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 187408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 11/01/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 10/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103260 |
| &nbsp;&nbsp;&nbsp;HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 09/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 188535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 06/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 09/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 09/01/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205213 |
| &nbsp;&nbsp;&nbsp;Humana, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.35%, 02/03/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 04/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204010 |
| &nbsp;&nbsp;&nbsp;Kaiser Foundation Hospitals |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 05/01/2027 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 58772 |
| &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 10/01/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97271 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 12/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99319 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Healthcare-Services (continued)** | **Healthcare-Services (continued)** | **Healthcare-Services (continued)** |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 10/15/2027 | $100000 | &nbsp;&nbsp;$97038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 06/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 04/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 04/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 07/15/2034 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 150432 |
| &nbsp;&nbsp;&nbsp;Universal Health Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 10/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197204 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3769540 |
| **Home Builders — 0.0%** | **Home Builders — 0.0%** | **Home Builders — 0.0%** |
| &nbsp;&nbsp;&nbsp;PulteGroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 02/15/2035 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 52041 |
| **Household Products/Wares — 0.1%** | **Household Products/Wares — 0.1%** | **Household Products/Wares — 0.1%** |
| &nbsp;&nbsp;&nbsp;Avery Dennison Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 03/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 104525 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.05%, 09/15/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 187806 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292331 |
| **Insurance — 0.8%** | **Insurance — 0.8%** | **Insurance — 0.8%** |
| &nbsp;&nbsp;&nbsp;Allstate Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.45%, 12/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 84659 |
| &nbsp;&nbsp;&nbsp;Aon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 05/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 185452 |
| &nbsp;&nbsp;&nbsp;Aon North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 03/01/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102291 |
| &nbsp;&nbsp;&nbsp;Arthur J Gallagher & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201641 |
| &nbsp;&nbsp;&nbsp;Assurant, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 01/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 86038 |
| &nbsp;&nbsp;&nbsp;Assured Guaranty US Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 09/15/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 104527 |
| &nbsp;&nbsp;&nbsp;Athene Holding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.65%, 02/01/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 107615 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 03/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 91723 |
| &nbsp;&nbsp;&nbsp;Brighthouse Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 06/22/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97471 |
| &nbsp;&nbsp;&nbsp;Brown & Brown, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 03/17/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 94993 |
| &nbsp;&nbsp;&nbsp;Chubb INA Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38%, 09/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 172883 |
| &nbsp;&nbsp;&nbsp;CNA Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 05/01/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97630 |
| &nbsp;&nbsp;&nbsp;CNO Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 05/30/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100861 |
| &nbsp;&nbsp;&nbsp;Enstar Group, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 06/01/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100392 |
| &nbsp;&nbsp;&nbsp;F&G Annuities & Life, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 06/04/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103019 |
| &nbsp;&nbsp;&nbsp;Fairfax Financial Holdings, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 03/03/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 184827 |
| &nbsp;&nbsp;&nbsp;Fidelity National Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 08/15/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99466 |
| &nbsp;&nbsp;&nbsp;First American Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.40%, 08/15/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 85638 |
| &nbsp;&nbsp;&nbsp;Globe Life, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 06/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98256 |
| &nbsp;&nbsp;&nbsp;Jackson Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.17%, 06/08/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100916 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| &nbsp;&nbsp;&nbsp;Lincoln National Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 01/15/2031 | $100000 | &nbsp;&nbsp;$92685 |
| &nbsp;&nbsp;&nbsp;Loews Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 05/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 94422 |
| &nbsp;&nbsp;&nbsp;Manulife Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.48%, 05/19/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96708 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 11/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 89314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 11/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202373 |
| &nbsp;&nbsp;&nbsp;MetLife, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 07/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207784 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13%, 06/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 89374 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 03/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 90945 |
| &nbsp;&nbsp;&nbsp;Prudential Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 03/01/2052 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 48436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 07/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 212179 |
| &nbsp;&nbsp;&nbsp;Reinsurance Group of America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 09/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 105008 |
| &nbsp;&nbsp;&nbsp;Willis North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 09/15/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 93775 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3723301 |
| **Internet — 0.5%** | **Internet — 0.5%** | **Internet — 0.5%** |
| &nbsp;&nbsp;&nbsp;Alibaba Group Holding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 05/26/2030\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204236 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 05/15/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196260 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10%, 05/12/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 177061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 08/22/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 392483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 12/05/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203401 |
| &nbsp;&nbsp;&nbsp;Expedia Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 02/15/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 393076 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 08/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 08/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199230 |
| &nbsp;&nbsp;&nbsp;Netflix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 05/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 214212 |
| &nbsp;&nbsp;&nbsp;Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 01/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198266 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2379101 |
| **Investment Companies — 0.3%** | **Investment Companies — 0.3%** | **Investment Companies — 0.3%** |
| &nbsp;&nbsp;&nbsp;Apollo Debt Solutions BDC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.90%, 04/13/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 52229 |
| &nbsp;&nbsp;&nbsp;Ares Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 06/15/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 94496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 03/08/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 01/15/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102940 |
| &nbsp;&nbsp;&nbsp;Ares Strategic Income Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.20%, 03/21/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101170 |
| &nbsp;&nbsp;&nbsp;Blackstone Private Credit Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 01/15/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 01/25/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103095 |
| &nbsp;&nbsp;&nbsp;Blackstone Secured Lending Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.85%, 09/30/2028 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 46817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 06/30/2030 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49746 |
| &nbsp;&nbsp;&nbsp;Blue Owl Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 03/15/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50114 |
| &nbsp;&nbsp;&nbsp;Blue Owl Credit Income Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.65%, 03/15/2031 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51410 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Investment Companies (continued)** | **Investment Companies (continued)** | **Investment Companies (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 09/16/2027 | $100000 | &nbsp;&nbsp;$104455 |
| &nbsp;&nbsp;&nbsp;FS KKR Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 10/12/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 92201 |
| &nbsp;&nbsp;&nbsp;Golub Capital BDC, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 07/15/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50769 |
| &nbsp;&nbsp;&nbsp;Golub Capital Private Credit Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 09/12/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50136 |
| &nbsp;&nbsp;&nbsp;Main Street Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.95%, 03/01/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 52088 |
| &nbsp;&nbsp;&nbsp;Oaktree Specialty Lending Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.10%, 02/15/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51449 |
| &nbsp;&nbsp;&nbsp;Sixth Street Lending Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 07/15/2030\* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50945 |
| &nbsp;&nbsp;&nbsp;Sixth Street Specialty Lending, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 03/01/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51188 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1301714 |
| **Iron/Steel — 0.1%** | **Iron/Steel — 0.1%** | **Iron/Steel — 0.1%** |
| &nbsp;&nbsp;&nbsp;ArcelorMittal SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.80%, 11/29/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 54818 |
| &nbsp;&nbsp;&nbsp;Nucor Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 06/01/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100723 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 05/15/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99869 |
| &nbsp;&nbsp;&nbsp;Vale Overseas, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 07/08/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 188453 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443863 |
| **Lodging — 0.1%** | **Lodging — 0.1%** | **Lodging — 0.1%** |
| &nbsp;&nbsp;&nbsp;Choice Hotels International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 08/01/2034 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50370 |
| &nbsp;&nbsp;&nbsp;Hyatt Hotels Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 06/30/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101747 |
| &nbsp;&nbsp;&nbsp;Las Vegas Sands Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 08/08/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95422 |
| &nbsp;&nbsp;&nbsp;Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 06/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 05/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100842 |
| &nbsp;&nbsp;&nbsp;Sands China, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 08/08/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202327 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650557 |
| **Machinery-Construction & Mining — 0.1%** | **Machinery-Construction & Mining — 0.1%** | **Machinery-Construction & Mining — 0.1%** |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 11/15/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 11/15/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 05/14/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202611 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404957 |
| **Machinery-Diversified — 0.3%** | **Machinery-Diversified — 0.3%** | **Machinery-Diversified — 0.3%** |
| &nbsp;&nbsp;&nbsp;CNH Industrial Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 10/08/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199708 |
| &nbsp;&nbsp;&nbsp;Deere & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 01/16/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103787 |
| &nbsp;&nbsp;&nbsp;Ingersoll Rand, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 08/14/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 104474 |
| &nbsp;&nbsp;&nbsp;John Deere Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 09/08/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 388523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 07/18/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 189135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 09/08/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103004 |
| &nbsp;&nbsp;&nbsp;nVent Finance SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 11/15/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 87236 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Machinery-Diversified (continued)** | **Machinery-Diversified (continued)** | **Machinery-Diversified (continued)** |
| &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.57%, 02/15/2030 | $200000 | &nbsp;&nbsp;$183962 |
| &nbsp;&nbsp;&nbsp;Regal Rexnord Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.30%, 02/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 104679 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1464508 |
| **Media — 0.4%** | **Media — 0.4%** | **Media — 0.4%** |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC/Charter Communications Operating Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 04/01/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 177182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10%, 06/01/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 312947 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 02/01/2030 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 277705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 02/01/2027 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 295370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 10/15/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 298116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 06/01/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204100 |
| &nbsp;&nbsp;&nbsp;Fox Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.71%, 01/25/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201034 |
| &nbsp;&nbsp;&nbsp;Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 06/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194602 |
| &nbsp;&nbsp;&nbsp;Walt Disney Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 01/13/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 183376 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2144432 |
| **Mining — 0.1%** | **Mining — 0.1%** | **Mining — 0.1%** |
| &nbsp;&nbsp;&nbsp;BHP Billiton Finance USA, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 02/21/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204907 |
| &nbsp;&nbsp;&nbsp;Newmont Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 10/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 181071 |
| &nbsp;&nbsp;&nbsp;Rio Tinto Alcan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 12/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 108042 |
| &nbsp;&nbsp;&nbsp;Rio Tinto Finance USA PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 03/14/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101512 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595532 |
| **Miscellaneous Manufacturing — 0.1%** | **Miscellaneous Manufacturing — 0.1%** | **Miscellaneous Manufacturing — 0.1%** |
| &nbsp;&nbsp;&nbsp;3M Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 08/26/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 185056 |
| &nbsp;&nbsp;&nbsp;Eaton Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 03/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96983 |
| &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 06/14/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95919 |
| &nbsp;&nbsp;&nbsp;Textron, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10%, 11/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 106373 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484331 |
| **Multi-National — 2.7%** | **Multi-National — 2.7%** | **Multi-National — 2.7%** |
| &nbsp;&nbsp;&nbsp;African Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 09/18/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 294297 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 09/19/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 183109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 08/20/2027 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 491640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 04/25/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 298651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 01/12/2033 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 492361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 01/14/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 404243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 08/25/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 304882 |
| &nbsp;&nbsp;&nbsp;Asian Infrastructure Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 03/13/2034 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 397472 |
| &nbsp;&nbsp;&nbsp;Corp. Andina de Fomento |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 06/30/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199280 |
| &nbsp;&nbsp;&nbsp;European Bank for Reconstruction & Development |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 01/25/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 301502 |
| &nbsp;&nbsp;&nbsp;European Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 11/15/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 297511 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Multi-National (continued)** | **Multi-National (continued)** | **Multi-National (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 03/15/2028 | $500000 | &nbsp;&nbsp;$499539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 02/15/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 300585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 02/13/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 08/16/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 03/19/2027 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 603229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 03/14/2030 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 306721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 02/12/2035 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 305890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 06/15/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 308517 |
| &nbsp;&nbsp;&nbsp;Inter-American Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.63%, 09/16/2027 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 466066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13%, 07/20/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 276520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 01/13/2027 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 578212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 04/12/2033 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 379880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 02/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204290 |
| &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75%, 11/24/2027 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1858261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 06/15/2027 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1968704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 01/15/2032 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 513234 |
| &nbsp;&nbsp;&nbsp;International Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 07/02/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 01/21/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 405413 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;13136881 |
| **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp;CDW LLC/CDW Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.57%, 12/01/2031 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 138110 |
| **Oil & Gas — 0.9%** | **Oil & Gas — 0.9%** | **Oil & Gas — 0.9%** |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.72%, 01/12/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 178118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.02%, 01/16/2027 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 491257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.23%, 11/17/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202372 |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 12/15/2034\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99501 |
| &nbsp;&nbsp;&nbsp;Chevron USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.48%, 02/26/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201498 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 01/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202136 |
| &nbsp;&nbsp;&nbsp;Coterra Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 03/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197624 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 09/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97140 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 03/24/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 182923 |
| &nbsp;&nbsp;&nbsp;EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 04/01/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205600 |
| &nbsp;&nbsp;&nbsp;Expand Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 01/15/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101267 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.44%, 08/16/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 187985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.48%, 03/19/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 193377 |
| &nbsp;&nbsp;&nbsp;Helmerich & Payne, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 12/01/2034 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 46123 |
| &nbsp;&nbsp;&nbsp;Hess Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 10/01/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 113217 |
| &nbsp;&nbsp;&nbsp;HF Sinclair Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/01/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 01/15/2035 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50874 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 04/01/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 294775 |
| &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 10/01/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 01/01/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206828 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| &nbsp;&nbsp;&nbsp;Ovintiv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 08/15/2034 | $50000 | &nbsp;&nbsp;$52329 |
| &nbsp;&nbsp;&nbsp;Phillips 66 Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 06/30/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101027 |
| &nbsp;&nbsp;&nbsp;Pioneer Natural Resources Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.90%, 08/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 177116 |
| &nbsp;&nbsp;&nbsp;Shell International Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 11/13/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 297227 |
| &nbsp;&nbsp;&nbsp;TotalEnergies Capital SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 04/05/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102328 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 04/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196196 |
| &nbsp;&nbsp;&nbsp;Woodside Finance, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 09/12/2034 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 48511 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4524926 |
| **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** |
| &nbsp;&nbsp;&nbsp;Amcor Finance USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 05/26/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103707 |
| &nbsp;&nbsp;&nbsp;Berry Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 01/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103370 |
| &nbsp;&nbsp;&nbsp;Sonoco Products Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 09/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199013 |
| &nbsp;&nbsp;&nbsp;WRKCo., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 06/01/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 191559 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597649 |
| **Pharmaceuticals — 1.4%** | **Pharmaceuticals — 1.4%** | **Pharmaceuticals — 1.4%** |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 11/21/2029 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 238329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 05/14/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 03/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 03/15/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 03/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101262 |
| &nbsp;&nbsp;&nbsp;Astrazeneca Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 02/26/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201760 |
| &nbsp;&nbsp;&nbsp;AstraZeneca PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38%, 08/06/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 173138 |
| &nbsp;&nbsp;&nbsp;Becton Dickinson & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.11%, 02/08/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100222 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 07/26/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 192982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.45%, 11/15/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 394109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 02/22/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203852 |
| &nbsp;&nbsp;&nbsp;Cardinal Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 11/15/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 304839 |
| &nbsp;&nbsp;&nbsp;Cencora, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 12/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202269 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.30%, 08/21/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 187225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 08/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 189488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 03/25/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 297995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 02/21/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 06/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205294 |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 02/12/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 02/12/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203345 |
| &nbsp;&nbsp;&nbsp;GlaxoSmithKline Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 05/15/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 396676 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 01/15/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 389478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 06/01/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206855 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| &nbsp;&nbsp;&nbsp;McKesson Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 05/30/2032 | $100000 | &nbsp;&nbsp;$100806 |
| &nbsp;&nbsp;&nbsp;Merck & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15%, 12/10/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 173735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 03/07/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194294 |
| &nbsp;&nbsp;&nbsp;Novartis Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 09/18/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197380 |
| &nbsp;&nbsp;&nbsp;Pfizer Investment Enterprises Pte., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 05/19/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 05/19/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201643 |
| &nbsp;&nbsp;&nbsp;Pfizer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 08/18/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 171971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 04/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 185380 |
| &nbsp;&nbsp;&nbsp;Takeda Pharmaceutical Co., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 11/26/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202857 |
| &nbsp;&nbsp;&nbsp;Viatris, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 06/22/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 88656 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6813527 |
| **Pipelines — 0.9%** | **Pipelines — 0.9%** | **Pipelines — 0.9%** |
| &nbsp;&nbsp;&nbsp;Boardwalk Pipelines LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 08/01/2034 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50632 |
| &nbsp;&nbsp;&nbsp;Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 01/31/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 179787 |
| &nbsp;&nbsp;&nbsp;Cheniere Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 10/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198931 |
| &nbsp;&nbsp;&nbsp;DCP Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 05/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202613 |
| &nbsp;&nbsp;&nbsp;Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 03/08/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 11/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 209332 |
| &nbsp;&nbsp;&nbsp;Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 06/01/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.40%, 12/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 214620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.55%, 12/01/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 215797 |
| &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 01/31/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 186726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 01/31/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206458 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 06/01/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.80%, 08/01/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 229726 |
| &nbsp;&nbsp;&nbsp;MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 09/01/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197565 |
| &nbsp;&nbsp;&nbsp;ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.05%, 09/01/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 104936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10%, 11/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 211454 |
| &nbsp;&nbsp;&nbsp;Plains All American Pipeline LP/PAA Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 12/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 190883 |
| &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 03/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198391 |
| &nbsp;&nbsp;&nbsp;South Bow USA Infrastructure Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.03%, 10/01/2029\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99912 |
| &nbsp;&nbsp;&nbsp;Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 03/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 105166 |
| &nbsp;&nbsp;&nbsp;Targa Resources Partners LP/Targa Resources Partners Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 01/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 186341 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10%, 04/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194793 |
| &nbsp;&nbsp;&nbsp;Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 02/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 192090 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| &nbsp;&nbsp;&nbsp;Williams Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 03/15/2031 | $200000 | &nbsp;&nbsp;$178711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 03/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99611 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4364890 |
| **Private Equity — 0.0%** | **Private Equity — 0.0%** | **Private Equity — 0.0%** |
| &nbsp;&nbsp;&nbsp;Blackstone Reg Finance Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 12/06/2034 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49442 |
| &nbsp;&nbsp;&nbsp;Brookfield Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.68%, 01/15/2035 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51340 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100782 |
| **Real Estate — 0.0%** | **Real Estate — 0.0%** | **Real Estate — 0.0%** |
| &nbsp;&nbsp;&nbsp;CBRE Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 08/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 105366 |
| **REITS — 1.3%** | **REITS — 1.3%** | **REITS — 1.3%** |
| &nbsp;&nbsp;&nbsp;Agree LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 06/15/2033 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 41704 |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 05/18/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 82742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 12/15/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 92540 |
| &nbsp;&nbsp;&nbsp;American Homes 4 Rent LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 02/01/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101660 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 07/15/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 08/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 07/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206176 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 12/07/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102492 |
| &nbsp;&nbsp;&nbsp;Boston Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 01/30/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 91705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 12/01/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 01/15/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100589 |
| &nbsp;&nbsp;&nbsp;Brixmor Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 08/16/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 87353 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10%, 10/15/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99319 |
| &nbsp;&nbsp;&nbsp;Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10%, 04/01/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 172107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 07/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 187292 |
| &nbsp;&nbsp;&nbsp;Digital Realty Trust LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 07/01/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96445 |
| &nbsp;&nbsp;&nbsp;EPR Properties |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 04/15/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100009 |
| &nbsp;&nbsp;&nbsp;Equinix Europe 2 Financing Corp. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 06/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101931 |
| &nbsp;&nbsp;&nbsp;Equinix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 04/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 94299 |
| &nbsp;&nbsp;&nbsp;ERP Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 12/01/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99395 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 03/01/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98078 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.35%, 03/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 85225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 04/01/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102780 |
| &nbsp;&nbsp;&nbsp;Federal Realty OP LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 07/15/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97840 |
| &nbsp;&nbsp;&nbsp;GLP Capital LP/GLP Financing II, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 01/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 88457 |
| &nbsp;&nbsp;&nbsp;Healthpeak OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 01/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 93743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 12/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101431 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **REITS (continued)** | **REITS (continued)** | **REITS (continued)** |
| &nbsp;&nbsp;&nbsp;Highwoods Realty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 03/15/2028 | $100000 | &nbsp;&nbsp;$97842 |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 12/15/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 93772 |
| &nbsp;&nbsp;&nbsp;Invitation Homes Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 01/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 82549 |
| &nbsp;&nbsp;&nbsp;Kilroy Realty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 08/15/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96428 |
| &nbsp;&nbsp;&nbsp;Kimco Realty OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.40%, 03/01/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 108622 |
| &nbsp;&nbsp;&nbsp;LXP Industrial Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 10/01/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 84336 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartments LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 06/01/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98647 |
| &nbsp;&nbsp;&nbsp;NNN REIT, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 10/15/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97934 |
| &nbsp;&nbsp;&nbsp;Omega Healthcare Investors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 01/15/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100288 |
| &nbsp;&nbsp;&nbsp;Phillips Edison Grocery Center Operating Partnership I LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 11/15/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 87109 |
| &nbsp;&nbsp;&nbsp;Piedmont Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.25%, 07/20/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 110083 |
| &nbsp;&nbsp;&nbsp;Prologis LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 09/15/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 06/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/31/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99702 |
| &nbsp;&nbsp;&nbsp;Public Storage Operating Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.95%, 11/09/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 92856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 11/09/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 87167 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 01/15/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 93474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 12/15/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 02/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 10/13/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 52205 |
| &nbsp;&nbsp;&nbsp;Regency Centers LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 06/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96436 |
| &nbsp;&nbsp;&nbsp;Safehold GL Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 06/15/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 89237 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 09/13/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 92788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 07/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 91944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 02/01/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 88188 |
| &nbsp;&nbsp;&nbsp;Store Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 11/18/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 88801 |
| &nbsp;&nbsp;&nbsp;Sun Communities Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 11/01/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 93157 |
| &nbsp;&nbsp;&nbsp;UDR, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10%, 08/01/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 83277 |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 04/01/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/15/2035 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 48979 |
| &nbsp;&nbsp;&nbsp;VICI Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 05/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99761 |
| &nbsp;&nbsp;&nbsp;Welltower OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 06/01/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 90673 |
| &nbsp;&nbsp;&nbsp;Welltower, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 02/15/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97547 |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 04/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194771 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **REITS (continued)** | **REITS (continued)** | **REITS (continued)** |
| &nbsp;&nbsp;&nbsp;WP Carey, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 07/15/2029 | $100000 | &nbsp;&nbsp;$97197 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6349765 |
| **Retail — 0.7%** | **Retail — 0.7%** | **Retail — 0.7%** |
| &nbsp;&nbsp;&nbsp;AutoNation, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 03/01/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 91956 |
| &nbsp;&nbsp;&nbsp;AutoZone, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.55%, 11/01/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 110156 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.60%, 04/20/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 355570 |
| &nbsp;&nbsp;&nbsp;Dollar General Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 07/05/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203491 |
| &nbsp;&nbsp;&nbsp;Genuine Parts Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 02/01/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 87336 |
| &nbsp;&nbsp;&nbsp;Home Depot, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 12/06/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 09/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 06/25/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 06/25/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100803 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.70%, 09/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 184465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.70%, 10/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 173250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 04/05/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194788 |
| &nbsp;&nbsp;&nbsp;McDonald's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 07/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 193018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 05/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201208 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 04/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197131 |
| &nbsp;&nbsp;&nbsp;Starbucks Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55%, 11/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 180851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 08/15/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97195 |
| &nbsp;&nbsp;&nbsp;Target Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 04/15/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 290964 |
| &nbsp;&nbsp;&nbsp;Walmart, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 06/26/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10%, 04/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194396 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3656477 |
| **Semiconductors — 0.8%** | **Semiconductors — 0.8%** | **Semiconductors — 0.8%** |
| &nbsp;&nbsp;&nbsp;Analog Devices, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.70%, 10/01/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 277063 |
| &nbsp;&nbsp;&nbsp;Broadcom Corp./Broadcom Cayman Finance, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 01/15/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 396566 |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 02/15/2031\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 178417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.42%, 04/15/2033\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 180923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.47%, 04/15/2034\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 177756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 10/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 07/15/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200946 |
| &nbsp;&nbsp;&nbsp;Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 11/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 181996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 08/05/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 02/10/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199999 |
| &nbsp;&nbsp;&nbsp;Marvell Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 04/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 190000 |
| &nbsp;&nbsp;&nbsp;Microchip Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 02/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101204 |
| &nbsp;&nbsp;&nbsp;Micron Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 01/15/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 09/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 104291 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 06/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 176487 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Semiconductors (continued)** | **Semiconductors (continued)** | **Semiconductors (continued)** |
| &nbsp;&nbsp;&nbsp;NXP BV/NXP Funding LLC/NXP USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 02/15/2032 | $200000 | &nbsp;&nbsp;$174504 |
| &nbsp;&nbsp;&nbsp;QUALCOMM, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.30%, 05/20/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 185487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 05/20/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197479 |
| &nbsp;&nbsp;&nbsp;Texas Instruments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 03/14/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203277 |
| &nbsp;&nbsp;&nbsp;TSMC Arizona Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 04/22/2027 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 297622 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3821739 |
| **Shipbuilding — 0.0%** | **Shipbuilding — 0.0%** | **Shipbuilding — 0.0%** |
| &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.04%, 08/16/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 185416 |
| **Software — 0.8%** | **Software — 0.8%** | **Software — 0.8%** |
| &nbsp;&nbsp;&nbsp;Adobe, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 02/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 183741 |
| &nbsp;&nbsp;&nbsp;AppLovin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 12/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202417 |
| &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 12/01/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 93254 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 09/10/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99681 |
| &nbsp;&nbsp;&nbsp;Concentrix Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.60%, 08/02/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 104711 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 03/01/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 87329 |
| &nbsp;&nbsp;&nbsp;Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 07/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 191902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 08/12/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 03/02/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204413 |
| &nbsp;&nbsp;&nbsp;Intuit, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.35%, 07/15/2027 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 284442 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 02/06/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197790 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 04/01/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 389062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 07/08/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 94003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 09/27/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 192161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 11/09/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 215289 |
| &nbsp;&nbsp;&nbsp;Paychex, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 04/15/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102767 |
| &nbsp;&nbsp;&nbsp;Roper Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 02/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 171076 |
| &nbsp;&nbsp;&nbsp;Synopsys, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 04/01/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 403077 |
| &nbsp;&nbsp;&nbsp;VMware, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 08/21/2027 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 296537 |
| &nbsp;&nbsp;&nbsp;Workday, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 04/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194911 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3807906 |
| **Telecommunications — 1.0%** | **Telecommunications — 1.0%** | **Telecommunications — 1.0%** |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 06/01/2027 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 288801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55%, 12/01/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 166757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10%, 02/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 02/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204386 |
| &nbsp;&nbsp;&nbsp;Bell Telephone Co. of Canada or Bell Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15%, 02/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 84550 |
| &nbsp;&nbsp;&nbsp;British Telecommunications PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.63%, 12/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 122215 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| &nbsp;&nbsp;&nbsp;Cisco Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 02/26/2029 | $200000 | &nbsp;&nbsp;$203946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 02/26/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204851 |
| &nbsp;&nbsp;&nbsp;Deutsche Telekom International Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 06/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 117311 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 11/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 177668 |
| &nbsp;&nbsp;&nbsp;Orange SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 03/01/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 120685 |
| &nbsp;&nbsp;&nbsp;Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202557 |
| &nbsp;&nbsp;&nbsp;Sprint Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 11/15/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 320729 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 04/15/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 04/15/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 395262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 04/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 193847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 07/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 04/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201217 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.36%, 03/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 171942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55%, 03/21/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 179128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.33%, 09/21/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 399624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 08/10/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 193431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 04/02/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200805 |
| &nbsp;&nbsp;&nbsp;Vodafone Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 05/30/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202646 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4847294 |
| **Transportation — 0.3%** | **Transportation — 0.3%** | **Transportation — 0.3%** |
| &nbsp;&nbsp;&nbsp;Canadian National Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 08/05/2032 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 142088 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.13%, 10/15/2031 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 168819 |
| &nbsp;&nbsp;&nbsp;CSX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 03/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199132 |
| &nbsp;&nbsp;&nbsp;FedEx Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 08/05/2029\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 188743 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 03/15/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 104069 |
| &nbsp;&nbsp;&nbsp;Ryder System, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.30%, 12/01/2028 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 158326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.60%, 12/01/2033 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 54992 |
| &nbsp;&nbsp;&nbsp;Union Pacific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 09/10/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 02/20/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101071 |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 03/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194412 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1509949 |
| **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** |
| &nbsp;&nbsp;&nbsp;GATX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.90%, 06/01/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 85158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.90%, 05/01/2034 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 55308 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140466 |
| **Water — 0.0%** | **Water — 0.0%** | **Water — 0.0%** |
| &nbsp;&nbsp;&nbsp;American Water Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.45%, 06/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 193489 |
| **Total Corporate Bonds & Notes<br> (cost $165,792,481)** |  | &nbsp;&nbsp;&nbsp;&nbsp;165958537 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 54.1%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 54.1%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 54.1%** |
| **U.S. Government — 53.2%** | **U.S. Government — 53.2%** | **U.S. Government — 53.2%** |
| &nbsp;&nbsp;&nbsp;United States Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 02/15/2031 | $1000000 | &nbsp;&nbsp;$1067188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 05/15/2030 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1648359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 11/15/2026 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1550918 |
| &nbsp;&nbsp;&nbsp;United States Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50%, 04/30/2027 to 05/31/2027 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2820742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.63%, 03/31/2027 to 08/15/2030 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6060937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75%, 08/31/2026 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1928438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.88%, 09/30/2026 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4816211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00%, 07/31/2028 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1838203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13%, 10/31/2026 to 08/31/2028 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7490664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.25%, 11/30/2026 to 08/15/2031 | &nbsp;&nbsp;26200000 | &nbsp;&nbsp;&nbsp;&nbsp; 24083329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38%, 08/31/2026 to 11/15/2031 | &nbsp;&nbsp;13500000 | &nbsp;&nbsp;&nbsp;&nbsp; 12281289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 08/15/2026 to 11/30/2028 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp;&nbsp;&nbsp; 8502040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.63%, 09/30/2026 to 05/15/2031 | &nbsp;&nbsp;12200000 | &nbsp;&nbsp;&nbsp;&nbsp; 11457937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 12/31/2026 to 01/31/2029 | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp;&nbsp;&nbsp; 8563945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.88%, 02/28/2027 to 02/15/2032 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6478711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 11/15/2026 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;&nbsp;&nbsp; 1265875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 02/15/2027 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;&nbsp;&nbsp; 1265723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 05/15/2027 to 05/15/2029 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp;&nbsp;&nbsp; 4106711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 03/31/2027 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1952031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 05/31/2027 to 07/31/2029 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7680469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 04/30/2027 to 05/31/2029 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5821172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 05/15/2028 to 05/15/2032 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6653555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 11/15/2028 to 08/31/2029 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4863554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 06/30/2029 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1952031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 05/15/2033 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2834648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 04/30/2028 to 04/30/2030 | &nbsp;&nbsp;10500000 | &nbsp;&nbsp;&nbsp;&nbsp; 10328163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 03/31/2028 to 09/30/2031 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp;&nbsp;&nbsp; 5413770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 06/30/2027 to 08/31/2031 | &nbsp;&nbsp;13000000 | &nbsp;&nbsp;&nbsp;&nbsp; 12879473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 09/30/2029 to 08/15/2034 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7826524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 01/15/2027 to 02/15/2034 | &nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 9954063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 01/31/2027 to 03/31/2032 | &nbsp;&nbsp;24500000 | &nbsp;&nbsp;&nbsp;&nbsp; 24565194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 11/30/2026 to 05/15/2035 | &nbsp;&nbsp;19000000 | &nbsp;&nbsp;&nbsp;&nbsp; 19030702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 08/31/2028 to 05/15/2034 | &nbsp;&nbsp;16000000 | &nbsp;&nbsp;&nbsp;&nbsp; 16225078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 04/15/2027 to 11/15/2033 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp;&nbsp;&nbsp; 8141875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 11/15/2026 to 02/15/2035 | &nbsp;&nbsp; 9500000 | &nbsp;&nbsp;&nbsp;&nbsp; 9638048 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;262987570 |
| **U.S. Government Agency — 0.9%** | **U.S. Government Agency — 0.9%** | **U.S. Government Agency — 0.9%** |
| &nbsp;&nbsp;&nbsp;Federal Farm Credit Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 03/30/2028 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 468209 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.83%, 02/10/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 189995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 12/10/2027 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 483795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 06/09/2028 to 11/16/2028 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2455765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 09/08/2028 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 506756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 03/10/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202235 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4306755 |
| **Total U.S. Government & Agency Obligations<br> (cost $270,628,407)** |  | &nbsp;&nbsp;&nbsp;&nbsp;267294325 |
| **FOREIGN GOVERNMENT OBLIGATIONS — 2.2%** | **FOREIGN GOVERNMENT OBLIGATIONS — 2.2%** | **FOREIGN GOVERNMENT OBLIGATIONS — 2.2%** |
| **Banks — 0.1%** | **Banks — 0.1%** | **Banks — 0.1%** |
| &nbsp;&nbsp;&nbsp;Korea Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 02/15/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 401252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 02/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201614 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602866 |
| **Regional(State/Province) — 0.4%** | **Regional(State/Province) — 0.4%** | **Regional(State/Province) — 0.4%** |
| &nbsp;&nbsp;&nbsp;Province of Alberta Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 06/26/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 304074 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Regional(State/Province) (continued)** | **Regional(State/Province) (continued)** | **Regional(State/Province) (continued)** |
| &nbsp;&nbsp;&nbsp;Province of British Columbia Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 01/24/2028 | $200000 | &nbsp;&nbsp;$203059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 06/11/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 04/24/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205498 |
| &nbsp;&nbsp;&nbsp;Province of Ontario Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.60%, 02/25/2031 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 348141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 10/02/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 184026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 09/17/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197045 |
| &nbsp;&nbsp;&nbsp;Province of Quebec Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 04/03/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 09/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 225157 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2071099 |
| **Sovereign — 1.7%** | **Sovereign — 1.7%** | **Sovereign — 1.7%** |
| &nbsp;&nbsp;&nbsp;Export Development Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 02/13/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 301616 |
| &nbsp;&nbsp;&nbsp;Export-Import Bank of Korea |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 01/14/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 01/11/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205753 |
| &nbsp;&nbsp;&nbsp;Government of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 04/30/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 307049 |
| &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.25%, 01/21/2031 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 341855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 07/21/2027 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 488135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 07/19/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 304655 |
| &nbsp;&nbsp;&nbsp;Japan International Cooperation Agency |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 05/25/2027 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 490876 |
| &nbsp;&nbsp;&nbsp;Panama Government International Bond |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 03/17/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 193624 |
| &nbsp;&nbsp;&nbsp;Republic of Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55%, 07/27/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 168200 |
| &nbsp;&nbsp;&nbsp;Republic of Indonesia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 01/11/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 03/31/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 185994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 09/10/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196379 |
| &nbsp;&nbsp;&nbsp;Republic of Italy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 10/17/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 187991 |
| &nbsp;&nbsp;&nbsp;Republic of Panama |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.16%, 01/23/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 180130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 03/01/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 214220 |
| &nbsp;&nbsp;&nbsp;Republic of Peru |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.78%, 01/23/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 179836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 01/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 168508 |
| &nbsp;&nbsp;&nbsp;Republic of Philippines |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 02/01/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 386488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 05/14/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203891 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 01/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 218325 |
| &nbsp;&nbsp;&nbsp;Republic of Poland |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 02/12/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 02/12/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203894 |
| &nbsp;&nbsp;&nbsp;Republic of Uruguay |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 01/23/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198900 |
| &nbsp;&nbsp;&nbsp;State of Israel |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 07/03/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 181661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 03/12/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201806 |
| &nbsp;&nbsp;&nbsp;Svensk Exportkredit AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 09/13/2027 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 596618 |
| &nbsp;&nbsp;&nbsp;United Mexican States |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.66%, 05/24/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 172264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 04/22/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 05/07/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 07/02/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201200 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |
| **Sovereign (continued)** | **Sovereign (continued)** | **Sovereign (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 05/13/2030 | $200000 | &nbsp;&nbsp;$206600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.35%, 02/09/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203000 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8093054 |
| **Total Foreign Government Obligations<br> (cost $10,773,111)** |  | &nbsp;&nbsp;&nbsp;&nbsp;10767019 |
| **MUNICIPAL SECURITIES — 0.2%** | **MUNICIPAL SECURITIES — 0.2%** | **MUNICIPAL SECURITIES — 0.2%** |
| &nbsp;&nbsp;&nbsp;Regents of the University of California Medical Center Pooled Revenue<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 05/15/2032 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 146578 |
| &nbsp;&nbsp;&nbsp;State Board of Administration Finance Corp.<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.53%, 07/01/2034 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 153695 |
| &nbsp;&nbsp;&nbsp;State of California<br> General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 03/01/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 217612 |
| &nbsp;&nbsp;&nbsp;State of Illinois<br> General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 02/01/2035 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 52528 |
| &nbsp;&nbsp;&nbsp;State of Oregon<br> General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.89%, 06/01/2027 | &nbsp;&nbsp; 55189 | &nbsp;&nbsp;&nbsp;&nbsp; 56258 |
| &nbsp;&nbsp;&nbsp;Texas Department of Transportation State Highway Fund<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.18%, 04/01/2030 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 60967 |
| &nbsp;&nbsp;&nbsp;Texas Natural Gas Securitization Finance Corp.<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 04/01/2035 | &nbsp;&nbsp; 132401 | &nbsp;&nbsp;&nbsp;&nbsp; 134938 |
| **Total Municipal Securities<br> (cost $811,799)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822576 |
| **UNAFFILIATED INVESTMENT COMPANIES — 8.7%** | **UNAFFILIATED INVESTMENT COMPANIES — 8.7%** | **UNAFFILIATED INVESTMENT COMPANIES — 8.7%** |
| &nbsp;&nbsp;&nbsp;iShares 1-3 Year Treasury Bond ETF | &nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 11140200 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;iShares 3-7 Year Treasury Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;$17746500 |
| &nbsp;&nbsp;&nbsp;iShares 7-10 Year Treasury Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp; 14235000 |
| **Total Unaffiliated Investment Companies<br> (cost $44,186,123)** |  | &nbsp;&nbsp;&nbsp;&nbsp;43121700 |
| **Total Long-Term Investment Securities<br> (cost $492,191,921)** |  | &nbsp;&nbsp;&nbsp;&nbsp;487964157 |
| **SHORT-TERM INVESTMENTS — 1.0%** | **SHORT-TERM INVESTMENTS — 1.0%** |  |
| **Unaffiliated Investment Companies — 1.0%** | **Unaffiliated Investment Companies — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(2)<br> (cost $4,659,421) | 4659421 | &nbsp;&nbsp;&nbsp;&nbsp; 4659421 |
| **TOTAL INVESTMENTS<br> (cost $496,851,342)(3)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.8% | &nbsp;&nbsp;&nbsp;&nbsp;492623578 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225915 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$493849493 |

---

\* Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The SA Fixed Income Intermediate Index Portfolio has no right to demand registration of these securities. At July 31, 2025, the aggregate value of these securities was $1,180,433 representing 0.2% of net assets.

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

(2) The rate shown is the 7-day yield as of July 31, 2025.

(3) See Note 4 for cost of investments on a tax basis.

DAC—Designated Activity Company <br> ETF—Exchange Traded Fund <br> VRS—Variable Rate Security

The rates shown on FRS and/or VRS are the current interest rates at July 31, 2025 and unless noted otherwise, the dates shown are the original maturity dates.

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp;$— | &nbsp;&nbsp;$165958537 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$165958537 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;267294325 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;267294325 |
| Foreign Government Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;10767019 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;10767019 |
| Municipal Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822576 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822576 |
| Unaffiliated Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;43121700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;43121700 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;4659421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4659421 |
| **Total Investments at Value** | &nbsp;&nbsp;$47781121 | &nbsp;&nbsp;$444842457 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$492623578 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin BW U.S. Large Cap Value Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 97.8%** | **COMMON STOCKS — 97.8%** | **COMMON STOCKS — 97.8%** |
| **Aerospace/Defense — 2.3%** | **Aerospace/Defense — 2.3%** | **Aerospace/Defense — 2.3%** |
| &nbsp;&nbsp;&nbsp;General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;33100 | &nbsp;&nbsp;$10314291 |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22600 | &nbsp;&nbsp;&nbsp;&nbsp; 6210932 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;27700 | &nbsp;&nbsp;&nbsp;&nbsp; 11661146 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28186369 |
| **Agriculture — 1.2%** | **Agriculture — 1.2%** | **Agriculture — 1.2%** |
| &nbsp;&nbsp;&nbsp;Altria Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;240400 | &nbsp;&nbsp;&nbsp;&nbsp; 14890376 |
| **Airlines — 0.9%** | **Airlines — 0.9%** | **Airlines — 0.9%** |
| &nbsp;&nbsp;&nbsp;Delta Air Lines, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;73400 | &nbsp;&nbsp;&nbsp;&nbsp; 3905614 |
| &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | &nbsp;&nbsp;&nbsp;&nbsp;75700 | &nbsp;&nbsp;&nbsp;&nbsp; 2341401 |
| &nbsp;&nbsp;&nbsp;United Airlines Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;46200 | &nbsp;&nbsp;&nbsp;&nbsp; 4079922 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10326937 |
| **Auto Manufacturers — 2.2%** | **Auto Manufacturers — 2.2%** | **Auto Manufacturers — 2.2%** |
| &nbsp;&nbsp;&nbsp;Cummins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16500 | &nbsp;&nbsp;&nbsp;&nbsp; 6065730 |
| &nbsp;&nbsp;&nbsp;Ford Motor Co. | &nbsp;&nbsp;&nbsp;&nbsp;557400 | &nbsp;&nbsp;&nbsp;&nbsp; 6170418 |
| &nbsp;&nbsp;&nbsp;General Motors Co. | &nbsp;&nbsp;&nbsp;&nbsp;136200 | &nbsp;&nbsp;&nbsp;&nbsp; 7264908 |
| &nbsp;&nbsp;&nbsp;PACCAR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;74900 | &nbsp;&nbsp;&nbsp;&nbsp; 7397124 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26898180 |
| **Auto Parts & Equipment — 0.2%** | **Auto Parts & Equipment — 0.2%** | **Auto Parts & Equipment — 0.2%** |
| &nbsp;&nbsp;&nbsp;Allison Transmission Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10500 | &nbsp;&nbsp;&nbsp;&nbsp; 945735 |
| &nbsp;&nbsp;&nbsp;BorgWarner, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26900 | &nbsp;&nbsp;&nbsp;&nbsp; 989920 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1935655 |
| **Banks — 20.5%** | **Banks — 20.5%** | **Banks — 20.5%** |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;731800 | &nbsp;&nbsp;&nbsp;&nbsp; 34592186 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;80400 | &nbsp;&nbsp;&nbsp;&nbsp; 8156580 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;175400 | &nbsp;&nbsp;&nbsp;&nbsp; 16434980 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44700 | &nbsp;&nbsp;&nbsp;&nbsp; 2133084 |
| &nbsp;&nbsp;&nbsp;Comerica, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9700 | &nbsp;&nbsp;&nbsp;&nbsp; 655429 |
| &nbsp;&nbsp;&nbsp;Commerce Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13200 | &nbsp;&nbsp;&nbsp;&nbsp; 807840 |
| &nbsp;&nbsp;&nbsp;Cullen/Frost Bankers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp; 637050 |
| &nbsp;&nbsp;&nbsp;East West Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13600 | &nbsp;&nbsp;&nbsp;&nbsp; 1363400 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;56100 | &nbsp;&nbsp;&nbsp;&nbsp; 2332077 |
| &nbsp;&nbsp;&nbsp;First Citizens BancShares, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp; 2593188 |
| &nbsp;&nbsp;&nbsp;First Horizon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36700 | &nbsp;&nbsp;&nbsp;&nbsp; 800427 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34900 | &nbsp;&nbsp;&nbsp;&nbsp; 25253291 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;142800 | &nbsp;&nbsp;&nbsp;&nbsp; 2346204 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;224100 | &nbsp;&nbsp;&nbsp;&nbsp; 66387384 |
| &nbsp;&nbsp;&nbsp;M&T Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12900 | &nbsp;&nbsp;&nbsp;&nbsp; 2434230 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;182000 | &nbsp;&nbsp;&nbsp;&nbsp; 25927720 |
| &nbsp;&nbsp;&nbsp;Northern Trust Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23400 | &nbsp;&nbsp;&nbsp;&nbsp; 3042000 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39400 | &nbsp;&nbsp;&nbsp;&nbsp; 7496638 |
| &nbsp;&nbsp;&nbsp;Regions Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;90400 | &nbsp;&nbsp;&nbsp;&nbsp; 2289832 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | &nbsp;&nbsp;&nbsp;&nbsp;34900 | &nbsp;&nbsp;&nbsp;&nbsp; 3900075 |
| &nbsp;&nbsp;&nbsp;Truist Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;91900 | &nbsp;&nbsp;&nbsp;&nbsp; 4016949 |
| &nbsp;&nbsp;&nbsp;US Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;113900 | &nbsp;&nbsp;&nbsp;&nbsp; 5120944 |
| &nbsp;&nbsp;&nbsp;Webster Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17100 | &nbsp;&nbsp;&nbsp;&nbsp; 985815 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;343700 | &nbsp;&nbsp;&nbsp;&nbsp; 27712531 |
| &nbsp;&nbsp;&nbsp;Zions Bancorp NA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8900 | &nbsp;&nbsp;&nbsp;&nbsp; 477218 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247897072 |
| **Beverages — 1.4%** | **Beverages — 1.4%** | **Beverages — 1.4%** |
| &nbsp;&nbsp;&nbsp;Coca-Cola Consolidated, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp; 1229250 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;193900 | &nbsp;&nbsp;&nbsp;&nbsp; 6330835 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage Co., Class B | &nbsp;&nbsp;&nbsp;&nbsp;25200 | &nbsp;&nbsp;&nbsp;&nbsp; 1227744 |
| &nbsp;&nbsp;&nbsp;PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55500 | &nbsp;&nbsp;&nbsp;&nbsp; 7654560 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16442389 |
| **Biotechnology — 3.8%** | **Biotechnology — 3.8%** | **Biotechnology — 3.8%** |
| &nbsp;&nbsp;&nbsp;Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;61500 | &nbsp;&nbsp;&nbsp;&nbsp; 18148650 |
| &nbsp;&nbsp;&nbsp;Corteva, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;97400 | &nbsp;&nbsp;&nbsp;&nbsp; 7025462 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Biotechnology (continued)** | **Biotechnology (continued)** | **Biotechnology (continued)** |
| &nbsp;&nbsp;&nbsp;Exelixis, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;38900 | &nbsp;&nbsp;$1408958 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;139400 | &nbsp;&nbsp;&nbsp;&nbsp; 15653226 |
| &nbsp;&nbsp;&nbsp;Halozyme Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14800 | &nbsp;&nbsp;&nbsp;&nbsp; 887556 |
| &nbsp;&nbsp;&nbsp;Roivant Sciences, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;90300 | &nbsp;&nbsp;&nbsp;&nbsp; 1025808 |
| &nbsp;&nbsp;&nbsp;United Therapeutics Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5300 | &nbsp;&nbsp;&nbsp;&nbsp; 1455910 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45605570 |
| **Building Materials — 1.1%** | **Building Materials — 1.1%** | **Building Materials — 1.1%** |
| &nbsp;&nbsp;&nbsp;CRH PLC | &nbsp;&nbsp;&nbsp;&nbsp;89800 | &nbsp;&nbsp;&nbsp;&nbsp; 8571410 |
| &nbsp;&nbsp;&nbsp;Masco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;31100 | &nbsp;&nbsp;&nbsp;&nbsp; 2118843 |
| &nbsp;&nbsp;&nbsp;Owens Corning | &nbsp;&nbsp;&nbsp;&nbsp;12300 | &nbsp;&nbsp;&nbsp;&nbsp; 1714989 |
| &nbsp;&nbsp;&nbsp;UFP Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp;&nbsp;&nbsp; 705600 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13110842 |
| **Chemicals — 0.6%** | **Chemicals — 0.6%** | **Chemicals — 0.6%** |
| &nbsp;&nbsp;&nbsp;Axalta Coating Systems, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;26200 | &nbsp;&nbsp;&nbsp;&nbsp; 741984 |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23100 | &nbsp;&nbsp;&nbsp;&nbsp; 2144373 |
| &nbsp;&nbsp;&nbsp;Mosaic Co. | &nbsp;&nbsp;&nbsp;&nbsp;42200 | &nbsp;&nbsp;&nbsp;&nbsp; 1519622 |
| &nbsp;&nbsp;&nbsp;PPG Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30200 | &nbsp;&nbsp;&nbsp;&nbsp; 3186100 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7592079 |
| **Commercial Services — 1.7%** | **Commercial Services — 1.7%** | **Commercial Services — 1.7%** |
| &nbsp;&nbsp;&nbsp;ADT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;91300 | &nbsp;&nbsp;&nbsp;&nbsp; 762355 |
| &nbsp;&nbsp;&nbsp;Corpay, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp; 2164435 |
| &nbsp;&nbsp;&nbsp;H&R Block, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16500 | &nbsp;&nbsp;&nbsp;&nbsp; 896610 |
| &nbsp;&nbsp;&nbsp;PayPal Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;118900 | &nbsp;&nbsp;&nbsp;&nbsp; 8175564 |
| &nbsp;&nbsp;&nbsp;U-Haul Holding Co. † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp; 109934 |
| &nbsp;&nbsp;&nbsp;U-Haul Holding Co. (Non-Voting) | &nbsp;&nbsp;&nbsp;&nbsp;23400 | &nbsp;&nbsp;&nbsp;&nbsp; 1216800 |
| &nbsp;&nbsp;&nbsp;United Rentals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8660 | &nbsp;&nbsp;&nbsp;&nbsp; 7646261 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20971959 |
| **Computers — 1.6%** | **Computers — 1.6%** | **Computers — 1.6%** |
| &nbsp;&nbsp;&nbsp;CACI International, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp; 1381710 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;70300 | &nbsp;&nbsp;&nbsp;&nbsp; 5044728 |
| &nbsp;&nbsp;&nbsp;Dell Technologies, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;48500 | &nbsp;&nbsp;&nbsp;&nbsp; 6435465 |
| &nbsp;&nbsp;&nbsp;Genpact, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp; 1101250 |
| &nbsp;&nbsp;&nbsp;Leidos Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp; 2937560 |
| &nbsp;&nbsp;&nbsp;NetApp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26600 | &nbsp;&nbsp;&nbsp;&nbsp; 2769858 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19670571 |
| **Cosmetics/Personal Care — 0.3%** | **Cosmetics/Personal Care — 0.3%** | **Cosmetics/Personal Care — 0.3%** |
| &nbsp;&nbsp;&nbsp;Kenvue, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;185800 | &nbsp;&nbsp;&nbsp;&nbsp; 3983552 |
| **Distribution/Wholesale — 0.2%** | **Distribution/Wholesale — 0.2%** | **Distribution/Wholesale — 0.2%** |
| &nbsp;&nbsp;&nbsp;LKQ Corp. | &nbsp;&nbsp;&nbsp;&nbsp;34200 | &nbsp;&nbsp;&nbsp;&nbsp; 1007874 |
| &nbsp;&nbsp;&nbsp;WESCO International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6400 | &nbsp;&nbsp;&nbsp;&nbsp; 1324544 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2332418 |
| **Diversified Financial Services — 2.4%** | **Diversified Financial Services — 2.4%** | **Diversified Financial Services — 2.4%** |
| &nbsp;&nbsp;&nbsp;Ally Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27500 | &nbsp;&nbsp;&nbsp;&nbsp; 1040875 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11590 | &nbsp;&nbsp;&nbsp;&nbsp; 6005822 |
| &nbsp;&nbsp;&nbsp;Apollo Global Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55900 | &nbsp;&nbsp;&nbsp;&nbsp; 8123388 |
| &nbsp;&nbsp;&nbsp;Invesco, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;26400 | &nbsp;&nbsp;&nbsp;&nbsp; 554664 |
| &nbsp;&nbsp;&nbsp;Jefferies Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24700 | &nbsp;&nbsp;&nbsp;&nbsp; 1424202 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24600 | &nbsp;&nbsp;&nbsp;&nbsp; 4111398 |
| &nbsp;&nbsp;&nbsp;SEI Investments Co. | &nbsp;&nbsp;&nbsp;&nbsp;15400 | &nbsp;&nbsp;&nbsp;&nbsp; 1357048 |
| &nbsp;&nbsp;&nbsp;Stifel Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10400 | &nbsp;&nbsp;&nbsp;&nbsp; 1186848 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp;46700 | &nbsp;&nbsp;&nbsp;&nbsp; 3253589 |
| &nbsp;&nbsp;&nbsp;T. Rowe Price Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22300 | &nbsp;&nbsp;&nbsp;&nbsp; 2262335 |
| &nbsp;&nbsp;&nbsp;Voya Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp; 350000 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29670169 |
| **Electric — 3.4%** | **Electric — 3.4%** | **Electric — 3.4%** |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp;27500 | &nbsp;&nbsp;&nbsp;&nbsp; 3806275 |
| &nbsp;&nbsp;&nbsp;Duke Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;87700 | &nbsp;&nbsp;&nbsp;&nbsp; 10667828 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin BW U.S. Large Cap Value Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp;&nbsp;Evergy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32800 | &nbsp;&nbsp;$2322240 |
| &nbsp;&nbsp;&nbsp;FirstEnergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;71100 | &nbsp;&nbsp;&nbsp;&nbsp; 3036681 |
| &nbsp;&nbsp;&nbsp;NRG Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24400 | &nbsp;&nbsp;&nbsp;&nbsp; 4079680 |
| &nbsp;&nbsp;&nbsp;OGE Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp; 1044660 |
| &nbsp;&nbsp;&nbsp;PPL Corp. | &nbsp;&nbsp;&nbsp;&nbsp;98200 | &nbsp;&nbsp;&nbsp;&nbsp; 3504758 |
| &nbsp;&nbsp;&nbsp;Public Service Enterprise Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;62000 | &nbsp;&nbsp;&nbsp;&nbsp; 5566980 |
| &nbsp;&nbsp;&nbsp;Southern Co. | &nbsp;&nbsp;&nbsp;&nbsp;56600 | &nbsp;&nbsp;&nbsp;&nbsp; 5347568 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15800 | &nbsp;&nbsp;&nbsp;&nbsp; 1723464 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41100134 |
| **Electrical Components & Equipment — 0.1%** | **Electrical Components & Equipment — 0.1%** | **Electrical Components & Equipment — 0.1%** |
| &nbsp;&nbsp;&nbsp;Acuity, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp; 1369940 |
| **Electronics — 0.3%** | **Electronics — 0.3%** | **Electronics — 0.3%** |
| &nbsp;&nbsp;&nbsp;Allegion PLC | &nbsp;&nbsp;&nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;&nbsp; 1891488 |
| &nbsp;&nbsp;&nbsp;TD SYNNEX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11800 | &nbsp;&nbsp;&nbsp;&nbsp; 1703802 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3595290 |
| **Energy-Alternate Sources — 0.2%** | **Energy-Alternate Sources — 0.2%** | **Energy-Alternate Sources — 0.2%** |
| &nbsp;&nbsp;&nbsp;First Solar, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;15300 | &nbsp;&nbsp;&nbsp;&nbsp; 2673369 |
| **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** |
| &nbsp;&nbsp;&nbsp;TopBuild Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4100 | &nbsp;&nbsp;&nbsp;&nbsp; 1518763 |
| **Food — 2.7%** | **Food — 2.7%** | **Food — 2.7%** |
| &nbsp;&nbsp;&nbsp;Albertsons Cos., Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;79900 | &nbsp;&nbsp;&nbsp;&nbsp; 1535678 |
| &nbsp;&nbsp;&nbsp;Hormel Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12500 | &nbsp;&nbsp;&nbsp;&nbsp; 351125 |
| &nbsp;&nbsp;&nbsp;Ingredion, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp; 1210168 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Co. | &nbsp;&nbsp;&nbsp;&nbsp;143400 | &nbsp;&nbsp;&nbsp;&nbsp; 3937764 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | &nbsp;&nbsp;&nbsp;&nbsp;94400 | &nbsp;&nbsp;&nbsp;&nbsp; 6617440 |
| &nbsp;&nbsp;&nbsp;Lamb Weston Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17400 | &nbsp;&nbsp;&nbsp;&nbsp; 993018 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;159700 | &nbsp;&nbsp;&nbsp;&nbsp; 10330993 |
| &nbsp;&nbsp;&nbsp;Sysco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;69200 | &nbsp;&nbsp;&nbsp;&nbsp; 5508320 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;40800 | &nbsp;&nbsp;&nbsp;&nbsp; 2133840 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32618346 |
| **Gas — 0.1%** | **Gas — 0.1%** | **Gas — 0.1%** |
| &nbsp;&nbsp;&nbsp;National Fuel Gas Co. | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp; 1041480 |
| **Hand/Machine Tools — 0.2%** | **Hand/Machine Tools — 0.2%** | **Hand/Machine Tools — 0.2%** |
| &nbsp;&nbsp;&nbsp;Snap-on, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7400 | &nbsp;&nbsp;&nbsp;&nbsp; 2376806 |
| **Healthcare-Products — 1.6%** | **Healthcare-Products — 1.6%** | **Healthcare-Products — 1.6%** |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp;182800 | &nbsp;&nbsp;&nbsp;&nbsp; 16495872 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28200 | &nbsp;&nbsp;&nbsp;&nbsp; 2584530 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19080402 |
| **Healthcare-Services — 2.9%** | **Healthcare-Services — 2.9%** | **Healthcare-Services — 2.9%** |
| &nbsp;&nbsp;&nbsp;Cigna Group | &nbsp;&nbsp;&nbsp;&nbsp;38100 | &nbsp;&nbsp;&nbsp;&nbsp; 10187178 |
| &nbsp;&nbsp;&nbsp;DaVita, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp; 1515996 |
| &nbsp;&nbsp;&nbsp;HCA Healthcare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39400 | &nbsp;&nbsp;&nbsp;&nbsp; 13947206 |
| &nbsp;&nbsp;&nbsp;Labcorp Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11900 | &nbsp;&nbsp;&nbsp;&nbsp; 3094952 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15600 | &nbsp;&nbsp;&nbsp;&nbsp; 2611596 |
| &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;13300 | &nbsp;&nbsp;&nbsp;&nbsp; 2145024 |
| &nbsp;&nbsp;&nbsp;Universal Health Services, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp; 1531340 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35033292 |
| **Home Builders — 0.6%** | **Home Builders — 0.6%** | **Home Builders — 0.6%** |
| &nbsp;&nbsp;&nbsp;NVR, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp;&nbsp; 2793311 |
| &nbsp;&nbsp;&nbsp;PulteGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31100 | &nbsp;&nbsp;&nbsp;&nbsp; 3511812 |
| &nbsp;&nbsp;&nbsp;Toll Brothers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11900 | &nbsp;&nbsp;&nbsp;&nbsp; 1408484 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7713607 |
| **Household Products/Wares — 0.5%** | **Household Products/Wares — 0.5%** | **Household Products/Wares — 0.5%** |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;47400 | &nbsp;&nbsp;&nbsp;&nbsp; 5906988 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Insurance — 7.5%** | **Insurance — 7.5%** | **Insurance — 7.5%** |
| &nbsp;&nbsp;&nbsp;Aflac, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;65500 | &nbsp;&nbsp;$6508080 |
| &nbsp;&nbsp;&nbsp;American Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8200 | &nbsp;&nbsp;&nbsp;&nbsp; 1024180 |
| &nbsp;&nbsp;&nbsp;Arch Capital Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;35900 | &nbsp;&nbsp;&nbsp;&nbsp; 3089554 |
| &nbsp;&nbsp;&nbsp;Assurant, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp; 1123800 |
| &nbsp;&nbsp;&nbsp;Axis Capital Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9700 | &nbsp;&nbsp;&nbsp;&nbsp; 910248 |
| &nbsp;&nbsp;&nbsp;Chubb, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;48100 | &nbsp;&nbsp;&nbsp;&nbsp; 12796524 |
| &nbsp;&nbsp;&nbsp;Cincinnati Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;18700 | &nbsp;&nbsp;&nbsp;&nbsp; 2758437 |
| &nbsp;&nbsp;&nbsp;Equitable Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39400 | &nbsp;&nbsp;&nbsp;&nbsp; 2023190 |
| &nbsp;&nbsp;&nbsp;Everest Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5100 | &nbsp;&nbsp;&nbsp;&nbsp; 1712580 |
| &nbsp;&nbsp;&nbsp;Fidelity National Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26700 | &nbsp;&nbsp;&nbsp;&nbsp; 1506681 |
| &nbsp;&nbsp;&nbsp;Hartford Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34300 | &nbsp;&nbsp;&nbsp;&nbsp; 4266577 |
| &nbsp;&nbsp;&nbsp;Loews Corp. | &nbsp;&nbsp;&nbsp;&nbsp;25500 | &nbsp;&nbsp;&nbsp;&nbsp; 2308770 |
| &nbsp;&nbsp;&nbsp;Markel Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1090 | &nbsp;&nbsp;&nbsp;&nbsp; 2189036 |
| &nbsp;&nbsp;&nbsp;MetLife, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;82600 | &nbsp;&nbsp;&nbsp;&nbsp; 6273470 |
| &nbsp;&nbsp;&nbsp;Old Republic International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;29800 | &nbsp;&nbsp;&nbsp;&nbsp; 1077866 |
| &nbsp;&nbsp;&nbsp;Primerica, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4100 | &nbsp;&nbsp;&nbsp;&nbsp; 1089083 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;&nbsp; 2101410 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;51700 | &nbsp;&nbsp;&nbsp;&nbsp; 12513468 |
| &nbsp;&nbsp;&nbsp;Prudential Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36200 | &nbsp;&nbsp;&nbsp;&nbsp; 3749596 |
| &nbsp;&nbsp;&nbsp;Reinsurance Group of America, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6300 | &nbsp;&nbsp;&nbsp;&nbsp; 1212435 |
| &nbsp;&nbsp;&nbsp;RenaissanceRe Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5900 | &nbsp;&nbsp;&nbsp;&nbsp; 1438066 |
| &nbsp;&nbsp;&nbsp;Travelers Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42300 | &nbsp;&nbsp;&nbsp;&nbsp; 11008152 |
| &nbsp;&nbsp;&nbsp;Unum Group | &nbsp;&nbsp;&nbsp;&nbsp;19100 | &nbsp;&nbsp;&nbsp;&nbsp; 1371571 |
| &nbsp;&nbsp;&nbsp;W.R. Berkley Corp. | &nbsp;&nbsp;&nbsp;&nbsp;45600 | &nbsp;&nbsp;&nbsp;&nbsp; 3137736 |
| &nbsp;&nbsp;&nbsp;Willis Towers Watson PLC | &nbsp;&nbsp;&nbsp;&nbsp;10300 | &nbsp;&nbsp;&nbsp;&nbsp; 3252843 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90443353 |
| **Internet — 1.1%** | **Internet — 1.1%** | **Internet — 1.1%** |
| &nbsp;&nbsp;&nbsp;eBay, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;65800 | &nbsp;&nbsp;&nbsp;&nbsp; 6037150 |
| &nbsp;&nbsp;&nbsp;Expedia Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17400 | &nbsp;&nbsp;&nbsp;&nbsp; 3135828 |
| &nbsp;&nbsp;&nbsp;Gen Digital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;88500 | &nbsp;&nbsp;&nbsp;&nbsp; 2609865 |
| &nbsp;&nbsp;&nbsp;Match Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp; 1199450 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12982293 |
| **Iron/Steel — 0.8%** | **Iron/Steel — 0.8%** | **Iron/Steel — 0.8%** |
| &nbsp;&nbsp;&nbsp;Nucor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32900 | &nbsp;&nbsp;&nbsp;&nbsp; 4707003 |
| &nbsp;&nbsp;&nbsp;Reliance, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6800 | &nbsp;&nbsp;&nbsp;&nbsp; 1972884 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24200 | &nbsp;&nbsp;&nbsp;&nbsp; 3086952 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9766839 |
| **Lodging — 0.2%** | **Lodging — 0.2%** | **Lodging — 0.2%** |
| &nbsp;&nbsp;&nbsp;MGM Resorts International† | &nbsp;&nbsp;&nbsp;&nbsp;38800 | &nbsp;&nbsp;&nbsp;&nbsp; 1414260 |
| &nbsp;&nbsp;&nbsp;Wynn Resorts, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;14900 | &nbsp;&nbsp;&nbsp;&nbsp; 1624547 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3038807 |
| **Machinery-Construction & Mining — 2.4%** | **Machinery-Construction & Mining — 2.4%** | **Machinery-Construction & Mining — 2.4%** |
| &nbsp;&nbsp;&nbsp;Caterpillar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;62500 | &nbsp;&nbsp;&nbsp;&nbsp; 27376250 |
| &nbsp;&nbsp;&nbsp;Oshkosh Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp; 1164076 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28540326 |
| **Machinery-Diversified — 0.7%** | **Machinery-Diversified — 0.7%** | **Machinery-Diversified — 0.7%** |
| &nbsp;&nbsp;&nbsp;AGCO Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10600 | &nbsp;&nbsp;&nbsp;&nbsp; 1250482 |
| &nbsp;&nbsp;&nbsp;CNH Industrial NV | &nbsp;&nbsp;&nbsp;&nbsp;166000 | &nbsp;&nbsp;&nbsp;&nbsp; 2151360 |
| &nbsp;&nbsp;&nbsp;Dover Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12500 | &nbsp;&nbsp;&nbsp;&nbsp; 2264250 |
| &nbsp;&nbsp;&nbsp;Middleby Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7600 | &nbsp;&nbsp;&nbsp;&nbsp; 1103520 |
| &nbsp;&nbsp;&nbsp;Regal Rexnord Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8800 | &nbsp;&nbsp;&nbsp;&nbsp; 1345344 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8114956 |
| **Media — 4.0%** | **Media — 4.0%** | **Media — 4.0%** |
| &nbsp;&nbsp;&nbsp;Charter Communications, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;&nbsp; 4579120 |
| &nbsp;&nbsp;&nbsp;Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;421000 | &nbsp;&nbsp;&nbsp;&nbsp; 13989830 |
| &nbsp;&nbsp;&nbsp;Fox Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;38900 | &nbsp;&nbsp;&nbsp;&nbsp; 2169064 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin BW U.S. Large Cap Value Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| &nbsp;&nbsp;&nbsp;News Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;53800 | &nbsp;&nbsp;$1577416 |
| &nbsp;&nbsp;&nbsp;Walt Disney Co. | &nbsp;&nbsp;&nbsp;&nbsp;221500 | &nbsp;&nbsp;&nbsp;&nbsp; 26382865 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48698295 |
| **Metal Fabricate/Hardware — 0.1%** | **Metal Fabricate/Hardware — 0.1%** | **Metal Fabricate/Hardware — 0.1%** |
| &nbsp;&nbsp;&nbsp;Mueller Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15800 | &nbsp;&nbsp;&nbsp;&nbsp; 1348846 |
| **Mining — 0.8%** | **Mining — 0.8%** | **Mining — 0.8%** |
| &nbsp;&nbsp;&nbsp;Newmont Corp. | &nbsp;&nbsp;&nbsp;&nbsp;147900 | &nbsp;&nbsp;&nbsp;&nbsp; 9184590 |
| **Miscellaneous Manufacturing — 1.3%** | **Miscellaneous Manufacturing — 1.3%** | **Miscellaneous Manufacturing — 1.3%** |
| &nbsp;&nbsp;&nbsp;3M Co. | &nbsp;&nbsp;&nbsp;&nbsp;76000 | &nbsp;&nbsp;&nbsp;&nbsp; 11340720 |
| &nbsp;&nbsp;&nbsp;A.O. Smith Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16300 | &nbsp;&nbsp;&nbsp;&nbsp; 1153877 |
| &nbsp;&nbsp;&nbsp;Donaldson Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16600 | &nbsp;&nbsp;&nbsp;&nbsp; 1194702 |
| &nbsp;&nbsp;&nbsp;Textron, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25700 | &nbsp;&nbsp;&nbsp;&nbsp; 1998689 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15687988 |
| **Oil & Gas — 2.2%** | **Oil & Gas — 2.2%** | **Oil & Gas — 2.2%** |
| &nbsp;&nbsp;&nbsp;EOG Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;77900 | &nbsp;&nbsp;&nbsp;&nbsp; 9349558 |
| &nbsp;&nbsp;&nbsp;HF Sinclair Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26900 | &nbsp;&nbsp;&nbsp;&nbsp; 1181986 |
| &nbsp;&nbsp;&nbsp;Ovintiv, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36700 | &nbsp;&nbsp;&nbsp;&nbsp; 1511306 |
| &nbsp;&nbsp;&nbsp;Phillips 66 | &nbsp;&nbsp;&nbsp;&nbsp;58100 | &nbsp;&nbsp;&nbsp;&nbsp; 7179998 |
| &nbsp;&nbsp;&nbsp;Range Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;34000 | &nbsp;&nbsp;&nbsp;&nbsp; 1248480 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;44300 | &nbsp;&nbsp;&nbsp;&nbsp; 6082833 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26554161 |
| **Oil & Gas Services — 0.6%** | **Oil & Gas Services — 0.6%** | **Oil & Gas Services — 0.6%** |
| &nbsp;&nbsp;&nbsp;Baker Hughes Co. | &nbsp;&nbsp;&nbsp;&nbsp;131700 | &nbsp;&nbsp;&nbsp;&nbsp; 5933085 |
| &nbsp;&nbsp;&nbsp;TechnipFMC PLC | &nbsp;&nbsp;&nbsp;&nbsp;51700 | &nbsp;&nbsp;&nbsp;&nbsp; 1880329 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7813414 |
| **Packaging & Containers — 0.5%** | **Packaging & Containers — 0.5%** | **Packaging & Containers — 0.5%** |
| &nbsp;&nbsp;&nbsp;Ball Corp. | &nbsp;&nbsp;&nbsp;&nbsp;39600 | &nbsp;&nbsp;&nbsp;&nbsp; 2267496 |
| &nbsp;&nbsp;&nbsp;Crown Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16600 | &nbsp;&nbsp;&nbsp;&nbsp; 1649376 |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp; 2325000 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6241872 |
| **Pharmaceuticals — 7.5%** | **Pharmaceuticals — 7.5%** | **Pharmaceuticals — 7.5%** |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;100700 | &nbsp;&nbsp;&nbsp;&nbsp; 19034314 |
| &nbsp;&nbsp;&nbsp;Cardinal Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29000 | &nbsp;&nbsp;&nbsp;&nbsp; 4501380 |
| &nbsp;&nbsp;&nbsp;Cencora, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27700 | &nbsp;&nbsp;&nbsp;&nbsp; 7924416 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;151400 | &nbsp;&nbsp;&nbsp;&nbsp; 9401940 |
| &nbsp;&nbsp;&nbsp;Henry Schein, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;17400 | &nbsp;&nbsp;&nbsp;&nbsp; 1177110 |
| &nbsp;&nbsp;&nbsp;Jazz Pharmaceuticals PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;&nbsp; 836799 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;289400 | &nbsp;&nbsp;&nbsp;&nbsp; 47675756 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90551715 |
| **Pipelines — 0.8%** | **Pipelines — 0.8%** | **Pipelines — 0.8%** |
| &nbsp;&nbsp;&nbsp;Antero Midstream Corp. | &nbsp;&nbsp;&nbsp;&nbsp;68400 | &nbsp;&nbsp;&nbsp;&nbsp; 1255140 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;317100 | &nbsp;&nbsp;&nbsp;&nbsp; 8897826 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10152966 |
| **Private Equity — 0.2%** | **Private Equity — 0.2%** | **Private Equity — 0.2%** |
| &nbsp;&nbsp;&nbsp;Carlyle Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;43300 | &nbsp;&nbsp;&nbsp;&nbsp; 2626578 |
| **Real Estate — 0.1%** | **Real Estate — 0.1%** | **Real Estate — 0.1%** |
| &nbsp;&nbsp;&nbsp;Jones Lang LaSalle, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6300 | &nbsp;&nbsp;&nbsp;&nbsp; 1703268 |
| **Retail — 3.2%** | **Retail — 3.2%** | **Retail — 3.2%** |
| &nbsp;&nbsp;&nbsp;AutoNation, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8600 | &nbsp;&nbsp;&nbsp;&nbsp; 1656704 |
| &nbsp;&nbsp;&nbsp;CarMax, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;20200 | &nbsp;&nbsp;&nbsp;&nbsp; 1143522 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Retail (continued)** | **Retail (continued)** |  |
| &nbsp;&nbsp;&nbsp;Dick's Sporting Goods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6900 | &nbsp;&nbsp;$1459419 |
| &nbsp;&nbsp;&nbsp;Dollar Tree, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;25800 | &nbsp;&nbsp;&nbsp;&nbsp; 2929590 |
| &nbsp;&nbsp;&nbsp;Gap, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49600 | &nbsp;&nbsp;&nbsp;&nbsp; 965216 |
| &nbsp;&nbsp;&nbsp;Genuine Parts Co. | &nbsp;&nbsp;&nbsp;&nbsp;19800 | &nbsp;&nbsp;&nbsp;&nbsp; 2551824 |
| &nbsp;&nbsp;&nbsp;Lithia Motors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp; 1008000 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;85600 | &nbsp;&nbsp;&nbsp;&nbsp; 19137592 |
| &nbsp;&nbsp;&nbsp;Murphy USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp; 869952 |
| &nbsp;&nbsp;&nbsp;Penske Automotive Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9400 | &nbsp;&nbsp;&nbsp;&nbsp; 1573654 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5900 | &nbsp;&nbsp;&nbsp;&nbsp; 3038559 |
| &nbsp;&nbsp;&nbsp;Williams-Sonoma, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16300 | &nbsp;&nbsp;&nbsp;&nbsp; 3048915 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39382947 |
| **Semiconductors — 1.9%** | **Semiconductors — 1.9%** |  |
| &nbsp;&nbsp;&nbsp;QUALCOMM, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;156700 | &nbsp;&nbsp;&nbsp;&nbsp; 22997292 |
| **Shipbuilding — 0.1%** | **Shipbuilding — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;&nbsp; 1450072 |
| **Software — 0.1%** | **Software — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;Dropbox, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;29200 | &nbsp;&nbsp;&nbsp;&nbsp; 793364 |
| **Telecommunications — 6.9%** | **Telecommunications — 6.9%** |  |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. | 1020400 | &nbsp;&nbsp;&nbsp;&nbsp; 27969164 |
| &nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;445400 | &nbsp;&nbsp;&nbsp;&nbsp; 30322832 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;601700 | &nbsp;&nbsp;&nbsp;&nbsp; 25728692 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84020688 |
| **Toys/Games/Hobbies — 0.1%** | **Toys/Games/Hobbies — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;Hasbro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15700 | &nbsp;&nbsp;&nbsp;&nbsp; 1180012 |
| **Transportation — 1.6%** | **Transportation — 1.6%** |  |
| &nbsp;&nbsp;&nbsp;CSX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;249500 | &nbsp;&nbsp;&nbsp;&nbsp; 8867230 |
| &nbsp;&nbsp;&nbsp;Expeditors International of Washington, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19500 | &nbsp;&nbsp;&nbsp;&nbsp; 2266680 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | &nbsp;&nbsp;&nbsp;&nbsp;27800 | &nbsp;&nbsp;&nbsp;&nbsp; 7728400 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18862310 |
| **Total Common Stocks<br> (cost $914,059,231)** |  | &nbsp;&nbsp;&nbsp;&nbsp;1185679507 |
| **UNAFFILIATED INVESTMENT COMPANIES — 1.8%** | **UNAFFILIATED INVESTMENT COMPANIES — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;iShares Russell 1000 Value ETF<br> (cost $21,120,115) | &nbsp;&nbsp;&nbsp;&nbsp;107700 | &nbsp;&nbsp;&nbsp;&nbsp; 21046734 |
| **Total Long-Term Investment Securities<br> (cost $935,179,346)** |  | &nbsp;&nbsp;&nbsp;&nbsp;1206726241 |
| **SHORT-TERM INVESTMENTS — 0.4%** | **SHORT-TERM INVESTMENTS — 0.4%** |  |
| **Unaffiliated Investment Companies — 0.4%** | **Unaffiliated Investment Companies — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(1)<br> (cost $5,509,701) | 5509701 | &nbsp;&nbsp;&nbsp;&nbsp; 5509701 |
| **TOTAL INVESTMENTS<br> (cost $940,689,047)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;&nbsp;&nbsp;1212235942 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.0) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(160800) |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$1212075142 |

---

† Non-income producing security

(1) The rate shown is the 7-day yield as of July 31, 2025.

(2) See Note 4 for cost of investments on a tax basis.

ETF—Exchange Traded Fund

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin BW U.S. Large Cap Value Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$1185679507 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1185679507 |
| Unaffiliated Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21046734 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21046734 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5509701 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5509701 |
| **Total Investments at Value** | &nbsp;&nbsp;$1212235942 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1212235942 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin Small Company Value Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 97.9%** | **COMMON STOCKS — 97.9%** | **COMMON STOCKS — 97.9%** |
| **Aerospace/Defense — 3.8%** | **Aerospace/Defense — 3.8%** | **Aerospace/Defense — 3.8%** |
| &nbsp;&nbsp;&nbsp;Melrose Industries PLC | &nbsp;&nbsp;&nbsp;&nbsp;504341 | &nbsp;&nbsp;$3411548 |
| &nbsp;&nbsp;&nbsp;QinetiQ Group PLC | 1102529 | &nbsp;&nbsp;&nbsp;&nbsp; 7236592 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10648140 |
| **Apparel — 1.3%** | **Apparel — 1.3%** | **Apparel — 1.3%** |
| &nbsp;&nbsp;&nbsp;Crocs, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;18597 | &nbsp;&nbsp;&nbsp;&nbsp; 1854679 |
| &nbsp;&nbsp;&nbsp;Dr. Martens PLC | 1779583 | &nbsp;&nbsp;&nbsp;&nbsp; 1900141 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3754820 |
| **Banks — 16.2%** | **Banks — 16.2%** | **Banks — 16.2%** |
| &nbsp;&nbsp;&nbsp;Atlantic Union Bankshares Corp. | &nbsp;&nbsp;&nbsp;&nbsp;149733 | &nbsp;&nbsp;&nbsp;&nbsp; 4746536 |
| &nbsp;&nbsp;&nbsp;Camden National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;64128 | &nbsp;&nbsp;&nbsp;&nbsp; 2418267 |
| &nbsp;&nbsp;&nbsp;Columbia Banking System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;267260 | &nbsp;&nbsp;&nbsp;&nbsp; 6360788 |
| &nbsp;&nbsp;&nbsp;First Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;102001 | &nbsp;&nbsp;&nbsp;&nbsp; 5109230 |
| &nbsp;&nbsp;&nbsp;First Commonwealth Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;175591 | &nbsp;&nbsp;&nbsp;&nbsp; 2899007 |
| &nbsp;&nbsp;&nbsp;First Interstate BancSystem, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;199391 | &nbsp;&nbsp;&nbsp;&nbsp; 5740467 |
| &nbsp;&nbsp;&nbsp;German American Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;87734 | &nbsp;&nbsp;&nbsp;&nbsp; 3370740 |
| &nbsp;&nbsp;&nbsp;Peoples Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47646 | &nbsp;&nbsp;&nbsp;&nbsp; 1364582 |
| &nbsp;&nbsp;&nbsp;Seacoast Banking Corp. of Florida | &nbsp;&nbsp;&nbsp;&nbsp;107936 | &nbsp;&nbsp;&nbsp;&nbsp; 3042716 |
| &nbsp;&nbsp;&nbsp;SouthState Corp. | &nbsp;&nbsp;&nbsp;&nbsp;70668 | &nbsp;&nbsp;&nbsp;&nbsp; 6654806 |
| &nbsp;&nbsp;&nbsp;TriCo Bancshares | &nbsp;&nbsp;&nbsp;&nbsp;80511 | &nbsp;&nbsp;&nbsp;&nbsp; 3310612 |
| &nbsp;&nbsp;&nbsp;Washington Trust Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28761 | &nbsp;&nbsp;&nbsp;&nbsp; 774821 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;45792572 |
| **Building Materials — 1.6%** | **Building Materials — 1.6%** | **Building Materials — 1.6%** |
| &nbsp;&nbsp;&nbsp;American Woodmark Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;15702 | &nbsp;&nbsp;&nbsp;&nbsp; 826082 |
| &nbsp;&nbsp;&nbsp;Louisiana-Pacific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;14682 | &nbsp;&nbsp;&nbsp;&nbsp; 1327400 |
| &nbsp;&nbsp;&nbsp;UFP Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25209 | &nbsp;&nbsp;&nbsp;&nbsp; 2470482 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4623964 |
| **Chemicals — 4.4%** | **Chemicals — 4.4%** | **Chemicals — 4.4%** |
| &nbsp;&nbsp;&nbsp;Ashland, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13643 | &nbsp;&nbsp;&nbsp;&nbsp; 703433 |
| &nbsp;&nbsp;&nbsp;Avient Corp. | &nbsp;&nbsp;&nbsp;&nbsp;160042 | &nbsp;&nbsp;&nbsp;&nbsp; 5052526 |
| &nbsp;&nbsp;&nbsp;Elementis PLC | 2885495 | &nbsp;&nbsp;&nbsp;&nbsp; 6630668 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;12386627 |
| **Commercial Services — 2.9%** | **Commercial Services — 2.9%** | **Commercial Services — 2.9%** |
| &nbsp;&nbsp;&nbsp;Babcock International Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;124320 | &nbsp;&nbsp;&nbsp;&nbsp; 1705863 |
| &nbsp;&nbsp;&nbsp;WillScot Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;225660 | &nbsp;&nbsp;&nbsp;&nbsp; 6623121 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8328984 |
| **Diversified Financial Services — 4.3%** | **Diversified Financial Services — 4.3%** | **Diversified Financial Services — 4.3%** |
| &nbsp;&nbsp;&nbsp;Bread Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;68255 | &nbsp;&nbsp;&nbsp;&nbsp; 4184031 |
| &nbsp;&nbsp;&nbsp;Piper Sandler Cos. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7430 | &nbsp;&nbsp;&nbsp;&nbsp; 2342828 |
| &nbsp;&nbsp;&nbsp;Victory Capital Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;82072 | &nbsp;&nbsp;&nbsp;&nbsp; 5655582 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;12182441 |
| **Electric — 1.4%** | **Electric — 1.4%** | **Electric — 1.4%** |
| &nbsp;&nbsp;&nbsp;Black Hills Corp. | &nbsp;&nbsp;&nbsp;&nbsp;42323 | &nbsp;&nbsp;&nbsp;&nbsp; 2445423 |
| &nbsp;&nbsp;&nbsp;IDACORP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12213 | &nbsp;&nbsp;&nbsp;&nbsp; 1530655 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3976078 |
| **Electronics — 8.0%** | **Electronics — 8.0%** | **Electronics — 8.0%** |
| &nbsp;&nbsp;&nbsp;Benchmark Electronics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;122077 | &nbsp;&nbsp;&nbsp;&nbsp; 4699964 |
| &nbsp;&nbsp;&nbsp;Knowles Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;177152 | &nbsp;&nbsp;&nbsp;&nbsp; 3597957 |
| &nbsp;&nbsp;&nbsp;Sanmina Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;60789 | &nbsp;&nbsp;&nbsp;&nbsp; 7053956 |
| &nbsp;&nbsp;&nbsp;TTM Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;45279 | &nbsp;&nbsp;&nbsp;&nbsp; 2139433 |
| &nbsp;&nbsp;&nbsp;Vontier Corp. | &nbsp;&nbsp;&nbsp;&nbsp;122642 | &nbsp;&nbsp;&nbsp;&nbsp; 5085964 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;22577274 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Healthcare-Products — 3.4%** | **Healthcare-Products — 3.4%** | **Healthcare-Products — 3.4%** |
| &nbsp;&nbsp;&nbsp;Bruker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;55978 | &nbsp;&nbsp;$2151234 |
| &nbsp;&nbsp;&nbsp;Envista Holdings Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;397393 | &nbsp;&nbsp;&nbsp;&nbsp; 7506754 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9657988 |
| **Home Builders — 2.4%** | **Home Builders — 2.4%** | **Home Builders — 2.4%** |
| &nbsp;&nbsp;&nbsp;Century Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13058 | &nbsp;&nbsp;&nbsp;&nbsp; 735035 |
| &nbsp;&nbsp;&nbsp;M/I Homes, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;15382 | &nbsp;&nbsp;&nbsp;&nbsp; 1848762 |
| &nbsp;&nbsp;&nbsp;Meritage Homes Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23612 | &nbsp;&nbsp;&nbsp;&nbsp; 1590032 |
| &nbsp;&nbsp;&nbsp;Taylor Morrison Home Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;46021 | &nbsp;&nbsp;&nbsp;&nbsp; 2728125 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6901954 |
| **Insurance — 7.5%** | **Insurance — 7.5%** | **Insurance — 7.5%** |
| &nbsp;&nbsp;&nbsp;CNO Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;195055 | &nbsp;&nbsp;&nbsp;&nbsp; 7185826 |
| &nbsp;&nbsp;&nbsp;Hanover Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27572 | &nbsp;&nbsp;&nbsp;&nbsp; 4732183 |
| &nbsp;&nbsp;&nbsp;Horace Mann Educators Corp. | &nbsp;&nbsp;&nbsp;&nbsp;171209 | &nbsp;&nbsp;&nbsp;&nbsp; 7281519 |
| &nbsp;&nbsp;&nbsp;Selective Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24263 | &nbsp;&nbsp;&nbsp;&nbsp; 1891786 |
| &nbsp;&nbsp;&nbsp;TWFG, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476 | &nbsp;&nbsp;&nbsp;&nbsp; 14694 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;21106008 |
| **Investment Companies — 0.7%** | **Investment Companies — 0.7%** | **Investment Companies — 0.7%** |
| &nbsp;&nbsp;&nbsp;Rosebank Industries PLC† | &nbsp;&nbsp;&nbsp;&nbsp;483010 | &nbsp;&nbsp;&nbsp;&nbsp; 2105027 |
| **Iron/Steel — 2.7%** | **Iron/Steel — 2.7%** | **Iron/Steel — 2.7%** |
| &nbsp;&nbsp;&nbsp;Commercial Metals Co. | &nbsp;&nbsp;&nbsp;&nbsp;147342 | &nbsp;&nbsp;&nbsp;&nbsp; 7641156 |
| **Leisure Time — 0.9%** | **Leisure Time — 0.9%** | **Leisure Time — 0.9%** |
| &nbsp;&nbsp;&nbsp;BRP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7928 | &nbsp;&nbsp;&nbsp;&nbsp; 400863 |
| &nbsp;&nbsp;&nbsp;Brunswick Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36082 | &nbsp;&nbsp;&nbsp;&nbsp; 2103220 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2504083 |
| **Lodging — 3.4%** | **Lodging — 3.4%** | **Lodging — 3.4%** |
| &nbsp;&nbsp;&nbsp;Boyd Gaming Corp. | &nbsp;&nbsp;&nbsp;&nbsp;45031 | &nbsp;&nbsp;&nbsp;&nbsp; 3823132 |
| &nbsp;&nbsp;&nbsp;Hilton Grand Vacations, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;99706 | &nbsp;&nbsp;&nbsp;&nbsp; 4468823 |
| &nbsp;&nbsp;&nbsp;Wyndham Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16424 | &nbsp;&nbsp;&nbsp;&nbsp; 1412464 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9704419 |
| **Machinery-Diversified — 8.6%** | **Machinery-Diversified — 8.6%** | **Machinery-Diversified — 8.6%** |
| &nbsp;&nbsp;&nbsp;Chart Industries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;25105 | &nbsp;&nbsp;&nbsp;&nbsp; 4991627 |
| &nbsp;&nbsp;&nbsp;Gates Industrial Corp. PLC† | &nbsp;&nbsp;&nbsp;&nbsp;250969 | &nbsp;&nbsp;&nbsp;&nbsp; 6224031 |
| &nbsp;&nbsp;&nbsp;Middleby Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;24998 | &nbsp;&nbsp;&nbsp;&nbsp; 3629710 |
| &nbsp;&nbsp;&nbsp;Mueller Water Products, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;148722 | &nbsp;&nbsp;&nbsp;&nbsp; 3682357 |
| &nbsp;&nbsp;&nbsp;Regal Rexnord Corp. | &nbsp;&nbsp;&nbsp;&nbsp;37796 | &nbsp;&nbsp;&nbsp;&nbsp; 5778252 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;24305977 |
| **Metal Fabricate/Hardware — 4.0%** | **Metal Fabricate/Hardware — 4.0%** | **Metal Fabricate/Hardware — 4.0%** |
| &nbsp;&nbsp;&nbsp;Ryerson Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;125329 | &nbsp;&nbsp;&nbsp;&nbsp; 2581777 |
| &nbsp;&nbsp;&nbsp;Valmont Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23846 | &nbsp;&nbsp;&nbsp;&nbsp; 8678752 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11260529 |
| **Miscellaneous Manufacturing — 0.6%** | **Miscellaneous Manufacturing — 0.6%** | **Miscellaneous Manufacturing — 0.6%** |
| &nbsp;&nbsp;&nbsp;Senior PLC | &nbsp;&nbsp;&nbsp;&nbsp;678294 | &nbsp;&nbsp;&nbsp;&nbsp; 1809494 |
| **Office Furnishings — 0.7%** | **Office Furnishings — 0.7%** | **Office Furnishings — 0.7%** |
| &nbsp;&nbsp;&nbsp;HNI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;38098 | &nbsp;&nbsp;&nbsp;&nbsp; 1959761 |
| **Oil & Gas — 0.5%** | **Oil & Gas — 0.5%** | **Oil & Gas — 0.5%** |
| &nbsp;&nbsp;&nbsp;Whitecap Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;192872 | &nbsp;&nbsp;&nbsp;&nbsp; 1456005 |
| **Oil & Gas Services — 1.7%** | **Oil & Gas Services — 1.7%** | **Oil & Gas Services — 1.7%** |
| &nbsp;&nbsp;&nbsp;Hunting PLC | &nbsp;&nbsp;&nbsp;&nbsp;464496 | &nbsp;&nbsp;&nbsp;&nbsp; 1932325 |
| &nbsp;&nbsp;&nbsp;Liberty Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;110486 | &nbsp;&nbsp;&nbsp;&nbsp; 1363397 |
| &nbsp;&nbsp;&nbsp;Select Water Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;122033 | &nbsp;&nbsp;&nbsp;&nbsp; 1175178 |
| &nbsp;&nbsp;&nbsp;TechnipFMC PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6511 | &nbsp;&nbsp;&nbsp;&nbsp; 236805 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4707705 |
| **Real Estate — 2.1%** | **Real Estate — 2.1%** | **Real Estate — 2.1%** |
| &nbsp;&nbsp;&nbsp;McGrath RentCorp | &nbsp;&nbsp;&nbsp;&nbsp;48442 | &nbsp;&nbsp;&nbsp;&nbsp; 6045077 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin Small Company Value Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **REITS — 2.5%** | **REITS — 2.5%** | **REITS — 2.5%** |
| &nbsp;&nbsp;&nbsp;Alexander & Baldwin, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;102677 | &nbsp;&nbsp;$1846132 |
| &nbsp;&nbsp;&nbsp;Independence Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;97484 | &nbsp;&nbsp;&nbsp;&nbsp; 1634807 |
| &nbsp;&nbsp;&nbsp;Kite Realty Group Trust | &nbsp;&nbsp;&nbsp;&nbsp;102519 | &nbsp;&nbsp;&nbsp;&nbsp; 2253368 |
| &nbsp;&nbsp;&nbsp;STAG Industrial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36754 | &nbsp;&nbsp;&nbsp;&nbsp; 1261765 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6996072 |
| **Retail — 2.5%** | **Retail — 2.5%** | **Retail — 2.5%** |
| &nbsp;&nbsp;&nbsp;Bath & Body Works, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;87578 | &nbsp;&nbsp;&nbsp;&nbsp; 2536259 |
| &nbsp;&nbsp;&nbsp;Gap, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;202468 | &nbsp;&nbsp;&nbsp;&nbsp; 3940027 |
| &nbsp;&nbsp;&nbsp;La-Z-Boy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16257 | &nbsp;&nbsp;&nbsp;&nbsp; 584765 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7061051 |
| **Savings & Loans — 2.1%** | **Savings & Loans — 2.1%** | **Savings & Loans — 2.1%** |
| &nbsp;&nbsp;&nbsp;WSFS Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;110821 | &nbsp;&nbsp;&nbsp;&nbsp; 6077424 |
| **Semiconductors — 0.8%** | **Semiconductors — 0.8%** | **Semiconductors — 0.8%** |
| &nbsp;&nbsp;&nbsp;MKS, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24680 | &nbsp;&nbsp;&nbsp;&nbsp; 2349042 |
| **Software — 2.9%** | **Software — 2.9%** | **Software — 2.9%** |
| &nbsp;&nbsp;&nbsp;ACI Worldwide, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;191059 | &nbsp;&nbsp;&nbsp;&nbsp; 8131471 |
| **Toys/Games/Hobbies — 2.2%** | **Toys/Games/Hobbies — 2.2%** | **Toys/Games/Hobbies — 2.2%** |
| &nbsp;&nbsp;&nbsp;Mattel, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;358625 | &nbsp;&nbsp;&nbsp;&nbsp; 6100211 |
| **Transportation — 1.8%** | **Transportation — 1.8%** | **Transportation — 1.8%** |
| &nbsp;&nbsp;&nbsp;Knight-Swift Transportation Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;71979 | &nbsp;&nbsp;&nbsp;&nbsp; 3059108 |
| &nbsp;&nbsp;&nbsp;RXO, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;131076 | &nbsp;&nbsp;&nbsp;&nbsp; 2025124 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5084232 |
| **Total Long-Term Investment Securities<br> (cost $252,502,432)** |  | &nbsp;&nbsp;&nbsp;&nbsp;277235586 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **SHORT-TERM INVESTMENTS — 2.1%** | **SHORT-TERM INVESTMENTS — 2.1%** |  |
| **U.S. Government Agency — 2.1%** | **U.S. Government Agency — 2.1%** |  |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Bank Disc. Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.18%, 08/01/2025 | $5760000 | &nbsp;&nbsp;$5759321 |
| **Unaffiliated Investment Companies — 0.0%** | **Unaffiliated Investment Companies — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(1) | &nbsp;&nbsp; 55934 | &nbsp;&nbsp;&nbsp;&nbsp; 55934 |
| **Total Short-Term Investments<br> (cost $5,815,934)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5815255 |
| **TOTAL INVESTMENTS<br> (cost $258,318,366)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;&nbsp;&nbsp;283050841 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116847 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$283167688 |

---

† Non-income producing security

(1) The rate shown is the 7-day yield as of July 31, 2025.

(2) See Note 4 for cost of investments on a tax basis.

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$277235586 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$277235586 |
| Short-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Government Agency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;5759321 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5759321 |
| &nbsp;&nbsp;&nbsp;Other Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55934 |
| **Total Investments at Value** | &nbsp;&nbsp;$277291520 | &nbsp;&nbsp;$5759321 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$283050841 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin Systematic U.S. Large Cap Core Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.4%** | **COMMON STOCKS — 99.4%** | **COMMON STOCKS — 99.4%** |
| **Aerospace/Defense — 2.7%** | **Aerospace/Defense — 2.7%** | **Aerospace/Defense — 2.7%** |
| &nbsp;&nbsp;&nbsp;General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;16859 | &nbsp;&nbsp;$4570138 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1821 | &nbsp;&nbsp;&nbsp;&nbsp; 327361 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7638 | &nbsp;&nbsp;&nbsp;&nbsp; 3215445 |
| &nbsp;&nbsp;&nbsp;RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2159 | &nbsp;&nbsp;&nbsp;&nbsp; 340194 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8453138 |
| **Agriculture — 1.1%** | **Agriculture — 1.1%** | **Agriculture — 1.1%** |
| &nbsp;&nbsp;&nbsp;Altria Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54809 | &nbsp;&nbsp;&nbsp;&nbsp; 3394869 |
| **Airlines — 0.5%** | **Airlines — 0.5%** | **Airlines — 0.5%** |
| &nbsp;&nbsp;&nbsp;United Airlines Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;18615 | &nbsp;&nbsp;&nbsp;&nbsp; 1643891 |
| **Apparel — 0.4%** | **Apparel — 0.4%** | **Apparel — 0.4%** |
| &nbsp;&nbsp;&nbsp;Crocs, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3054 | &nbsp;&nbsp;&nbsp;&nbsp; 304575 |
| &nbsp;&nbsp;&nbsp;Tapestry, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9364 | &nbsp;&nbsp;&nbsp;&nbsp; 1011593 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1316168 |
| **Auto Manufacturers — 2.6%** | **Auto Manufacturers — 2.6%** | **Auto Manufacturers — 2.6%** |
| &nbsp;&nbsp;&nbsp;Ford Motor Co. | &nbsp;&nbsp;&nbsp;&nbsp;108431 | &nbsp;&nbsp;&nbsp;&nbsp; 1200331 |
| &nbsp;&nbsp;&nbsp;General Motors Co. | &nbsp;&nbsp;&nbsp;&nbsp;56723 | &nbsp;&nbsp;&nbsp;&nbsp; 3025605 |
| &nbsp;&nbsp;&nbsp;Tesla, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12235 | &nbsp;&nbsp;&nbsp;&nbsp; 3771683 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7997619 |
| **Auto Parts & Equipment — 0.2%** | **Auto Parts & Equipment — 0.2%** | **Auto Parts & Equipment — 0.2%** |
| &nbsp;&nbsp;&nbsp;Allison Transmission Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650 | &nbsp;&nbsp;&nbsp;&nbsp; 418826 |
| &nbsp;&nbsp;&nbsp;Aptiv PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4782 | &nbsp;&nbsp;&nbsp;&nbsp; 328236 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747062 |
| **Banks — 4.2%** | **Banks — 4.2%** | **Banks — 4.2%** |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10913 | &nbsp;&nbsp;&nbsp;&nbsp; 1107124 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14364 | &nbsp;&nbsp;&nbsp;&nbsp; 1345907 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503 | &nbsp;&nbsp;&nbsp;&nbsp; 363966 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;10975 | &nbsp;&nbsp;&nbsp;&nbsp; 3251234 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5174 | &nbsp;&nbsp;&nbsp;&nbsp; 737088 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16940 | &nbsp;&nbsp;&nbsp;&nbsp; 1893045 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;54824 | &nbsp;&nbsp;&nbsp;&nbsp; 4420459 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;13118823 |
| **Beverages — 0.5%** | **Beverages — 0.5%** | **Beverages — 0.5%** |
| &nbsp;&nbsp;&nbsp;Coca-Cola Consolidated, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2784 | &nbsp;&nbsp;&nbsp;&nbsp; 311112 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage Co., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5670 | &nbsp;&nbsp;&nbsp;&nbsp; 276243 |
| &nbsp;&nbsp;&nbsp;Monster Beverage Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4616 | &nbsp;&nbsp;&nbsp;&nbsp; 271190 |
| &nbsp;&nbsp;&nbsp;PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5646 | &nbsp;&nbsp;&nbsp;&nbsp; 778696 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1637241 |
| **Biotechnology — 3.7%** | **Biotechnology — 3.7%** | **Biotechnology — 3.7%** |
| &nbsp;&nbsp;&nbsp;Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13376 | &nbsp;&nbsp;&nbsp;&nbsp; 3947258 |
| &nbsp;&nbsp;&nbsp;Biogen, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8609 | &nbsp;&nbsp;&nbsp;&nbsp; 1101952 |
| &nbsp;&nbsp;&nbsp;Exelixis, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;15457 | &nbsp;&nbsp;&nbsp;&nbsp; 559852 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34249 | &nbsp;&nbsp;&nbsp;&nbsp; 3845820 |
| &nbsp;&nbsp;&nbsp;Halozyme Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6467 | &nbsp;&nbsp;&nbsp;&nbsp; 387826 |
| &nbsp;&nbsp;&nbsp;Incyte Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4526 | &nbsp;&nbsp;&nbsp;&nbsp; 338952 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617 | &nbsp;&nbsp;&nbsp;&nbsp; 336549 |
| &nbsp;&nbsp;&nbsp;Royalty Pharma PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8519 | &nbsp;&nbsp;&nbsp;&nbsp; 313499 |
| &nbsp;&nbsp;&nbsp;United Therapeutics Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2314 | &nbsp;&nbsp;&nbsp;&nbsp; 635656 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11467364 |
| **Building Materials — 0.2%** | **Building Materials — 0.2%** | **Building Materials — 0.2%** |
| &nbsp;&nbsp;&nbsp;Johnson Controls International PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3146 | &nbsp;&nbsp;&nbsp;&nbsp; 330330 |
| &nbsp;&nbsp;&nbsp;Masco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp; 341 |
| &nbsp;&nbsp;&nbsp;Trane Technologies PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698 | &nbsp;&nbsp;&nbsp;&nbsp; 305780 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;636451 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Chemicals — 0.3%** | **Chemicals — 0.3%** | **Chemicals — 0.3%** |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9311 | &nbsp;&nbsp;$864340 |
| &nbsp;&nbsp;&nbsp;Ecolab, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp; 262 |
| &nbsp;&nbsp;&nbsp;Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp; 460 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865062 |
| **Commercial Services — 1.4%** | **Commercial Services — 1.4%** | **Commercial Services — 1.4%** |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp;&nbsp;&nbsp; 286288 |
| &nbsp;&nbsp;&nbsp;Cintas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4569 | &nbsp;&nbsp;&nbsp;&nbsp; 1016831 |
| &nbsp;&nbsp;&nbsp;PayPal Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;43786 | &nbsp;&nbsp;&nbsp;&nbsp; 3010725 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4313844 |
| **Computers — 7.5%** | **Computers — 7.5%** | **Computers — 7.5%** |
| &nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;91599 | &nbsp;&nbsp;&nbsp;&nbsp; 19013204 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3751 | &nbsp;&nbsp;&nbsp;&nbsp; 269172 |
| &nbsp;&nbsp;&nbsp;Fortinet, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;27105 | &nbsp;&nbsp;&nbsp;&nbsp; 2707789 |
| &nbsp;&nbsp;&nbsp;Genpact, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9390 | &nbsp;&nbsp;&nbsp;&nbsp; 413630 |
| &nbsp;&nbsp;&nbsp;HP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21886 | &nbsp;&nbsp;&nbsp;&nbsp; 542773 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1127 | &nbsp;&nbsp;&nbsp;&nbsp; 285300 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;23231868 |
| **Cosmetics/Personal Care — 1.4%** | **Cosmetics/Personal Care — 1.4%** | **Cosmetics/Personal Care — 1.4%** |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | &nbsp;&nbsp;&nbsp;&nbsp;32596 | &nbsp;&nbsp;&nbsp;&nbsp; 2733175 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | &nbsp;&nbsp;&nbsp;&nbsp;10756 | &nbsp;&nbsp;&nbsp;&nbsp; 1618455 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4351630 |
| **Distribution/Wholesale — 0.3%** | **Distribution/Wholesale — 0.3%** | **Distribution/Wholesale — 0.3%** |
| &nbsp;&nbsp;&nbsp;WW Grainger, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977 | &nbsp;&nbsp;&nbsp;&nbsp; 1015631 |
| **Diversified Financial Services — 2.9%** | **Diversified Financial Services — 2.9%** | **Diversified Financial Services — 2.9%** |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3371 | &nbsp;&nbsp;&nbsp;&nbsp; 329448 |
| &nbsp;&nbsp;&nbsp;CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;995 | &nbsp;&nbsp;&nbsp;&nbsp; 276889 |
| &nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9101 | &nbsp;&nbsp;&nbsp;&nbsp; 5155443 |
| &nbsp;&nbsp;&nbsp;SEI Investments Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5174 | &nbsp;&nbsp;&nbsp;&nbsp; 455933 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5168 | &nbsp;&nbsp;&nbsp;&nbsp; 360055 |
| &nbsp;&nbsp;&nbsp;T. Rowe Price Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3074 | &nbsp;&nbsp;&nbsp;&nbsp; 311857 |
| &nbsp;&nbsp;&nbsp;Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5654 | &nbsp;&nbsp;&nbsp;&nbsp; 1953287 |
| &nbsp;&nbsp;&nbsp;Western Union Co. | &nbsp;&nbsp;&nbsp;&nbsp;17388 | &nbsp;&nbsp;&nbsp;&nbsp; 139973 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8982885 |
| **Electric — 1.9%** | **Electric — 1.9%** | **Electric — 1.9%** |
| &nbsp;&nbsp;&nbsp;American Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7578 | &nbsp;&nbsp;&nbsp;&nbsp; 857375 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2926 | &nbsp;&nbsp;&nbsp;&nbsp; 302841 |
| &nbsp;&nbsp;&nbsp;Duke Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2578 | &nbsp;&nbsp;&nbsp;&nbsp; 313588 |
| &nbsp;&nbsp;&nbsp;Entergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp; 362 |
| &nbsp;&nbsp;&nbsp;Evergy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp; 283 |
| &nbsp;&nbsp;&nbsp;Exelon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6999 | &nbsp;&nbsp;&nbsp;&nbsp; 314535 |
| &nbsp;&nbsp;&nbsp;NRG Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11280 | &nbsp;&nbsp;&nbsp;&nbsp; 1886016 |
| &nbsp;&nbsp;&nbsp;PPL Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp; 321 |
| &nbsp;&nbsp;&nbsp;Southern Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6026 | &nbsp;&nbsp;&nbsp;&nbsp; 569337 |
| &nbsp;&nbsp;&nbsp;Vistra Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6540 | &nbsp;&nbsp;&nbsp;&nbsp; 1363852 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3430 | &nbsp;&nbsp;&nbsp;&nbsp; 374144 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5982654 |
| **Electronics — 0.2%** | **Electronics — 0.2%** | **Electronics — 0.2%** |
| &nbsp;&nbsp;&nbsp;Allegion PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2165 | &nbsp;&nbsp;&nbsp;&nbsp; 359217 |
| &nbsp;&nbsp;&nbsp;Arrow Electronics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2491 | &nbsp;&nbsp;&nbsp;&nbsp; 288956 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648173 |
| **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** |
| &nbsp;&nbsp;&nbsp;EMCOR Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620 | &nbsp;&nbsp;&nbsp;&nbsp; 389044 |
| **Environmental Control — 0.1%** | **Environmental Control — 0.1%** | **Environmental Control — 0.1%** |
| &nbsp;&nbsp;&nbsp;Republic Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1102 | &nbsp;&nbsp;&nbsp;&nbsp; 254176 |
| **Food — 1.1%** | **Food — 1.1%** | **Food — 1.1%** |
| &nbsp;&nbsp;&nbsp;Albertsons Cos., Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;16370 | &nbsp;&nbsp;&nbsp;&nbsp; 314631 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin Systematic U.S. Large Cap Core Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Food (continued)** | **Food (continued)** | **Food (continued)** |
| &nbsp;&nbsp;&nbsp;Ingredion, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3599 | &nbsp;&nbsp;$473413 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | &nbsp;&nbsp;&nbsp;&nbsp;34607 | &nbsp;&nbsp;&nbsp;&nbsp; 2425951 |
| &nbsp;&nbsp;&nbsp;Pilgrim's Pride Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2185 | &nbsp;&nbsp;&nbsp;&nbsp; 103547 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3317542 |
| **Gas — 0.1%** | **Gas — 0.1%** | **Gas — 0.1%** |
| &nbsp;&nbsp;&nbsp;UGI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4672 | &nbsp;&nbsp;&nbsp;&nbsp; 169033 |
| **Hand/Machine Tools — 0.1%** | **Hand/Machine Tools — 0.1%** | **Hand/Machine Tools — 0.1%** |
| &nbsp;&nbsp;&nbsp;Snap-on, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934 | &nbsp;&nbsp;&nbsp;&nbsp; 299991 |
| **Healthcare-Products — 1.9%** | **Healthcare-Products — 1.9%** | **Healthcare-Products — 1.9%** |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;21654 | &nbsp;&nbsp;&nbsp;&nbsp; 2732519 |
| &nbsp;&nbsp;&nbsp;Boston Scientific Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;15113 | &nbsp;&nbsp;&nbsp;&nbsp; 1585656 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp;&nbsp;&nbsp; 304557 |
| &nbsp;&nbsp;&nbsp;Insulet Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;921 | &nbsp;&nbsp;&nbsp;&nbsp; 265616 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7188 | &nbsp;&nbsp;&nbsp;&nbsp; 648645 |
| &nbsp;&nbsp;&nbsp;Waters Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;793 | &nbsp;&nbsp;&nbsp;&nbsp; 228987 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5765980 |
| **Healthcare-Services — 0.3%** | **Healthcare-Services — 0.3%** | **Healthcare-Services — 0.3%** |
| &nbsp;&nbsp;&nbsp;Humana, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1295 | &nbsp;&nbsp;&nbsp;&nbsp; 323582 |
| &nbsp;&nbsp;&nbsp;Medpace Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935 | &nbsp;&nbsp;&nbsp;&nbsp; 399432 |
| &nbsp;&nbsp;&nbsp;Universal Health Services, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1558 | &nbsp;&nbsp;&nbsp;&nbsp; 259329 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982343 |
| **Household Products/Wares — 0.2%** | **Household Products/Wares — 0.2%** | **Household Products/Wares — 0.2%** |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5110 | &nbsp;&nbsp;&nbsp;&nbsp; 636808 |
| **Insurance — 3.6%** | **Insurance — 3.6%** | **Insurance — 3.6%** |
| &nbsp;&nbsp;&nbsp;Aflac, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp; 298 |
| &nbsp;&nbsp;&nbsp;American International Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3519 | &nbsp;&nbsp;&nbsp;&nbsp; 273180 |
| &nbsp;&nbsp;&nbsp;Axis Capital Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4295 | &nbsp;&nbsp;&nbsp;&nbsp; 403043 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc., Class B† | &nbsp;&nbsp;&nbsp;&nbsp;15804 | &nbsp;&nbsp;&nbsp;&nbsp; 7457591 |
| &nbsp;&nbsp;&nbsp;Globe Life, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2487 | &nbsp;&nbsp;&nbsp;&nbsp; 349349 |
| &nbsp;&nbsp;&nbsp;Hartford Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11217 | &nbsp;&nbsp;&nbsp;&nbsp; 1395283 |
| &nbsp;&nbsp;&nbsp;MGIC Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13369 | &nbsp;&nbsp;&nbsp;&nbsp; 346257 |
| &nbsp;&nbsp;&nbsp;Old Republic International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12822 | &nbsp;&nbsp;&nbsp;&nbsp; 463772 |
| &nbsp;&nbsp;&nbsp;Unum Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7592 | &nbsp;&nbsp;&nbsp;&nbsp; 545182 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11233955 |
| **Internet — 16.9%** | **Internet — 16.9%** | **Internet — 16.9%** |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;28654 | &nbsp;&nbsp;&nbsp;&nbsp; 5498703 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;42939 | &nbsp;&nbsp;&nbsp;&nbsp; 8281216 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;46886 | &nbsp;&nbsp;&nbsp;&nbsp; 10976481 |
| &nbsp;&nbsp;&nbsp;Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698 | &nbsp;&nbsp;&nbsp;&nbsp; 3841834 |
| &nbsp;&nbsp;&nbsp;eBay, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3879 | &nbsp;&nbsp;&nbsp;&nbsp; 355898 |
| &nbsp;&nbsp;&nbsp;Etsy, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp; 168983 |
| &nbsp;&nbsp;&nbsp;Expedia Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6459 | &nbsp;&nbsp;&nbsp;&nbsp; 1164041 |
| &nbsp;&nbsp;&nbsp;F5, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3367 | &nbsp;&nbsp;&nbsp;&nbsp; 1055285 |
| &nbsp;&nbsp;&nbsp;Gen Digital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10284 | &nbsp;&nbsp;&nbsp;&nbsp; 303275 |
| &nbsp;&nbsp;&nbsp;Lyft, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;19602 | &nbsp;&nbsp;&nbsp;&nbsp; 275604 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;15155 | &nbsp;&nbsp;&nbsp;&nbsp; 11721483 |
| &nbsp;&nbsp;&nbsp;Netflix, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3960 | &nbsp;&nbsp;&nbsp;&nbsp; 4591224 |
| &nbsp;&nbsp;&nbsp;Spotify Technology SA† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp; 241218 |
| &nbsp;&nbsp;&nbsp;Uber Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;33355 | &nbsp;&nbsp;&nbsp;&nbsp; 2926901 |
| &nbsp;&nbsp;&nbsp;VeriSign, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4825 | &nbsp;&nbsp;&nbsp;&nbsp; 1297298 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;52699444 |
| **Iron/Steel — 0.1%** | **Iron/Steel — 0.1%** | **Iron/Steel — 0.1%** |
| &nbsp;&nbsp;&nbsp;Reliance, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952 | &nbsp;&nbsp;&nbsp;&nbsp; 276204 |
| **Machinery-Construction & Mining — 0.2%** | **Machinery-Construction & Mining — 0.2%** | **Machinery-Construction & Mining — 0.2%** |
| &nbsp;&nbsp;&nbsp;GE Vernova, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701 | &nbsp;&nbsp;&nbsp;&nbsp; 462863 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Media — 0.9%** | **Media — 0.9%** | **Media — 0.9%** |
| &nbsp;&nbsp;&nbsp;Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;63405 | &nbsp;&nbsp;$2106948 |
| &nbsp;&nbsp;&nbsp;Fox Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;12891 | &nbsp;&nbsp;&nbsp;&nbsp; 718802 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2825750 |
| **Mining — 1.1%** | **Mining — 1.1%** | **Mining — 1.1%** |
| &nbsp;&nbsp;&nbsp;Newmont Corp. | &nbsp;&nbsp;&nbsp;&nbsp;56924 | &nbsp;&nbsp;&nbsp;&nbsp; 3534980 |
| **Miscellaneous Manufacturing — 0.5%** | **Miscellaneous Manufacturing — 0.5%** | **Miscellaneous Manufacturing — 0.5%** |
| &nbsp;&nbsp;&nbsp;3M Co. | &nbsp;&nbsp;&nbsp;&nbsp;10754 | &nbsp;&nbsp;&nbsp;&nbsp; 1604712 |
| **Oil & Gas — 1.8%** | **Oil & Gas — 1.8%** | **Oil & Gas — 1.8%** |
| &nbsp;&nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2073 | &nbsp;&nbsp;&nbsp;&nbsp; 314350 |
| &nbsp;&nbsp;&nbsp;EOG Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25041 | &nbsp;&nbsp;&nbsp;&nbsp; 3005421 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15108 | &nbsp;&nbsp;&nbsp;&nbsp; 1686657 |
| &nbsp;&nbsp;&nbsp;Ovintiv, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13977 | &nbsp;&nbsp;&nbsp;&nbsp; 575573 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp; 274 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5582275 |
| **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** |
| &nbsp;&nbsp;&nbsp;Crown Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6119 | &nbsp;&nbsp;&nbsp;&nbsp; 607984 |
| **Pharmaceuticals — 3.9%** | **Pharmaceuticals — 3.9%** | **Pharmaceuticals — 3.9%** |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25820 | &nbsp;&nbsp;&nbsp;&nbsp; 4880496 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp;58741 | &nbsp;&nbsp;&nbsp;&nbsp; 2544073 |
| &nbsp;&nbsp;&nbsp;Cardinal Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1849 | &nbsp;&nbsp;&nbsp;&nbsp; 287002 |
| &nbsp;&nbsp;&nbsp;Cencora, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1035 | &nbsp;&nbsp;&nbsp;&nbsp; 296093 |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2607 | &nbsp;&nbsp;&nbsp;&nbsp; 1929362 |
| &nbsp;&nbsp;&nbsp;Jazz Pharmaceuticals PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2733 | &nbsp;&nbsp;&nbsp;&nbsp; 313284 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6738 | &nbsp;&nbsp;&nbsp;&nbsp; 1110018 |
| &nbsp;&nbsp;&nbsp;McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858 | &nbsp;&nbsp;&nbsp;&nbsp; 595057 |
| &nbsp;&nbsp;&nbsp;Pfizer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12789 | &nbsp;&nbsp;&nbsp;&nbsp; 297856 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;12253241 |
| **Pipelines — 0.9%** | **Pipelines — 0.9%** | **Pipelines — 0.9%** |
| &nbsp;&nbsp;&nbsp;Cheniere Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11840 | &nbsp;&nbsp;&nbsp;&nbsp; 2792819 |
| **Real Estate — 0.1%** | **Real Estate — 0.1%** | **Real Estate — 0.1%** |
| &nbsp;&nbsp;&nbsp;Jones Lang LaSalle, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1304 | &nbsp;&nbsp;&nbsp;&nbsp; 352549 |
| **REITS — 1.5%** | **REITS — 1.5%** | **REITS — 1.5%** |
| &nbsp;&nbsp;&nbsp;First Industrial Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6069 | &nbsp;&nbsp;&nbsp;&nbsp; 295682 |
| &nbsp;&nbsp;&nbsp;Gaming & Leisure Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6069 | &nbsp;&nbsp;&nbsp;&nbsp; 276625 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartment Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1970 | &nbsp;&nbsp;&nbsp;&nbsp; 280587 |
| &nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3777 | &nbsp;&nbsp;&nbsp;&nbsp; 403308 |
| &nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8244 | &nbsp;&nbsp;&nbsp;&nbsp; 1350285 |
| &nbsp;&nbsp;&nbsp;VICI Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;62105 | &nbsp;&nbsp;&nbsp;&nbsp; 2024623 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4631110 |
| **Retail — 2.9%** | **Retail — 2.9%** | **Retail — 2.9%** |
| &nbsp;&nbsp;&nbsp;AutoZone, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104 | &nbsp;&nbsp;&nbsp;&nbsp; 391912 |
| &nbsp;&nbsp;&nbsp;Bath & Body Works, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11425 | &nbsp;&nbsp;&nbsp;&nbsp; 330868 |
| &nbsp;&nbsp;&nbsp;Best Buy Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11604 | &nbsp;&nbsp;&nbsp;&nbsp; 754956 |
| &nbsp;&nbsp;&nbsp;Home Depot, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777 | &nbsp;&nbsp;&nbsp;&nbsp; 285555 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13791 | &nbsp;&nbsp;&nbsp;&nbsp; 3083254 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3037 | &nbsp;&nbsp;&nbsp;&nbsp; 298598 |
| &nbsp;&nbsp;&nbsp;TJX Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2445 | &nbsp;&nbsp;&nbsp;&nbsp; 304476 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2619 | &nbsp;&nbsp;&nbsp;&nbsp; 1348811 |
| &nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9836 | &nbsp;&nbsp;&nbsp;&nbsp; 963731 |
| &nbsp;&nbsp;&nbsp;Williams-Sonoma, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp; 1028775 |
| &nbsp;&nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2077 | &nbsp;&nbsp;&nbsp;&nbsp; 299400 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9090336 |
| **Semiconductors — 14.0%** | **Semiconductors — 14.0%** | **Semiconductors — 14.0%** |
| &nbsp;&nbsp;&nbsp;Applied Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13007 | &nbsp;&nbsp;&nbsp;&nbsp; 2342040 |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21155 | &nbsp;&nbsp;&nbsp;&nbsp; 6213223 |
| &nbsp;&nbsp;&nbsp;KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2617 | &nbsp;&nbsp;&nbsp;&nbsp; 2300422 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5349 | &nbsp;&nbsp;&nbsp;&nbsp; 507299 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin Systematic U.S. Large Cap Core Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Semiconductors (continued)** | **Semiconductors (continued)** | **Semiconductors (continued)** |
| &nbsp;&nbsp;&nbsp;Micron Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6150 | &nbsp;&nbsp;$671211 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;147994 | &nbsp;&nbsp;&nbsp;&nbsp; 26323693 |
| &nbsp;&nbsp;&nbsp;QUALCOMM, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25397 | &nbsp;&nbsp;&nbsp;&nbsp; 3727264 |
| &nbsp;&nbsp;&nbsp;Skyworks Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20329 | &nbsp;&nbsp;&nbsp;&nbsp; 1393350 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;43478502 |
| **Software — 12.5%** | **Software — 12.5%** | **Software — 12.5%** |
| &nbsp;&nbsp;&nbsp;Adobe, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12639 | &nbsp;&nbsp;&nbsp;&nbsp; 4520844 |
| &nbsp;&nbsp;&nbsp;AppLovin Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3147 | &nbsp;&nbsp;&nbsp;&nbsp; 1229533 |
| &nbsp;&nbsp;&nbsp;Autodesk, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003 | &nbsp;&nbsp;&nbsp;&nbsp; 304019 |
| &nbsp;&nbsp;&nbsp;DocuSign, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10666 | &nbsp;&nbsp;&nbsp;&nbsp; 806776 |
| &nbsp;&nbsp;&nbsp;Dropbox, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;12035 | &nbsp;&nbsp;&nbsp;&nbsp; 326991 |
| &nbsp;&nbsp;&nbsp;Electronic Arts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5264 | &nbsp;&nbsp;&nbsp;&nbsp; 802707 |
| &nbsp;&nbsp;&nbsp;Fair Isaac Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669 | &nbsp;&nbsp;&nbsp;&nbsp; 961166 |
| &nbsp;&nbsp;&nbsp;Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5396 | &nbsp;&nbsp;&nbsp;&nbsp; 4236562 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;43624 | &nbsp;&nbsp;&nbsp;&nbsp; 23273404 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7665 | &nbsp;&nbsp;&nbsp;&nbsp; 1213753 |
| &nbsp;&nbsp;&nbsp;RingCentral, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4209 | &nbsp;&nbsp;&nbsp;&nbsp; 107287 |
| &nbsp;&nbsp;&nbsp;Teradata Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5040 | &nbsp;&nbsp;&nbsp;&nbsp; 105487 |
| &nbsp;&nbsp;&nbsp;Zoom Communications, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14221 | &nbsp;&nbsp;&nbsp;&nbsp; 1053065 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;38941594 |
| **Telecommunications — 2.2%** | **Telecommunications — 2.2%** | **Telecommunications — 2.2%** |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;91021 | &nbsp;&nbsp;&nbsp;&nbsp; 2494886 |
| &nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;65844 | &nbsp;&nbsp;&nbsp;&nbsp; 4482659 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6977545 |
| **Toys/Games/Hobbies — 0.0%** | **Toys/Games/Hobbies — 0.0%** | **Toys/Games/Hobbies — 0.0%** |
| &nbsp;&nbsp;&nbsp;Mattel, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp; 255 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Transportation — 0.2%** | **Transportation — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;Ryder System, Inc. | &nbsp;&nbsp; 1964 | &nbsp;&nbsp;$349023 |
| &nbsp;&nbsp;&nbsp;Union Pacific Corp. | &nbsp;&nbsp; 1354 | &nbsp;&nbsp;&nbsp;&nbsp; 300547 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649570 |
| **Total Long-Term Investment Securities<br> (cost $260,539,063)** |  | &nbsp;&nbsp;&nbsp;&nbsp;309614978 |
| **SHORT-TERM INVESTMENTS — 0.6%** | **SHORT-TERM INVESTMENTS — 0.6%** |  |
| **U.S. Government Agency — 0.6%** | **U.S. Government Agency — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Bank Disc. Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.18%, 08/01/2025 | $1770000 | &nbsp;&nbsp;&nbsp;&nbsp; 1769791 |
| **Unaffiliated Investment Companies — 0.0%** | **Unaffiliated Investment Companies — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(1) | &nbsp;&nbsp; 63301 | &nbsp;&nbsp;&nbsp;&nbsp; 63301 |
| **Total Short-Term Investments<br> (cost $1,833,301)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1833092 |
| **TOTAL INVESTMENTS<br> (cost $262,372,364)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;&nbsp;&nbsp;311448070 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.0) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47773) |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$311400297 |

---

† Non-income producing security

(1) The rate shown is the 7-day yield as of July 31, 2025.

(2) See Note 4 for cost of investments on a tax basis.

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$309614978 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$309614978 |
| Short-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Government Agency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1769791 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1769791 |
| &nbsp;&nbsp;&nbsp;Other Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63301 |
| **Total Investments at Value** | &nbsp;&nbsp;$309678279 | &nbsp;&nbsp;$1769791 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$311448070 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin Systematic U.S. Large Cap Value Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.5%** | **COMMON STOCKS — 99.5%** | **COMMON STOCKS — 99.5%** |
| **Aerospace/Defense — 1.6%** | **Aerospace/Defense — 1.6%** | **Aerospace/Defense — 1.6%** |
| &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15119 | &nbsp;&nbsp;$6364796 |
| &nbsp;&nbsp;&nbsp;RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;18219 | &nbsp;&nbsp;&nbsp;&nbsp; 2870768 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9235564 |
| **Agriculture — 1.9%** | **Agriculture — 1.9%** | **Agriculture — 1.9%** |
| &nbsp;&nbsp;&nbsp;Altria Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;131020 | &nbsp;&nbsp;&nbsp;&nbsp; 8115379 |
| &nbsp;&nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17567 | &nbsp;&nbsp;&nbsp;&nbsp; 2881866 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10997245 |
| **Airlines — 1.0%** | **Airlines — 1.0%** | **Airlines — 1.0%** |
| &nbsp;&nbsp;&nbsp;United Airlines Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;65992 | &nbsp;&nbsp;&nbsp;&nbsp; 5827754 |
| **Apparel — 0.5%** | **Apparel — 0.5%** | **Apparel — 0.5%** |
| &nbsp;&nbsp;&nbsp;Crocs, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4569 | &nbsp;&nbsp;&nbsp;&nbsp; 455666 |
| &nbsp;&nbsp;&nbsp;Ralph Lauren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7115 | &nbsp;&nbsp;&nbsp;&nbsp; 2125606 |
| &nbsp;&nbsp;&nbsp;Tapestry, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3316 | &nbsp;&nbsp;&nbsp;&nbsp; 358228 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2939500 |
| **Auto Manufacturers — 2.3%** | **Auto Manufacturers — 2.3%** | **Auto Manufacturers — 2.3%** |
| &nbsp;&nbsp;&nbsp;Ford Motor Co. | &nbsp;&nbsp;&nbsp;&nbsp;550879 | &nbsp;&nbsp;&nbsp;&nbsp; 6098231 |
| &nbsp;&nbsp;&nbsp;General Motors Co. | &nbsp;&nbsp;&nbsp;&nbsp;125807 | &nbsp;&nbsp;&nbsp;&nbsp; 6710545 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;12808776 |
| **Auto Parts & Equipment — 0.6%** | **Auto Parts & Equipment — 0.6%** | **Auto Parts & Equipment — 0.6%** |
| &nbsp;&nbsp;&nbsp;Aptiv PLC† | &nbsp;&nbsp;&nbsp;&nbsp;46164 | &nbsp;&nbsp;&nbsp;&nbsp; 3168697 |
| **Banks — 13.1%** | **Banks — 13.1%** | **Banks — 13.1%** |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;244981 | &nbsp;&nbsp;&nbsp;&nbsp; 11580252 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;70167 | &nbsp;&nbsp;&nbsp;&nbsp; 7118442 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;60413 | &nbsp;&nbsp;&nbsp;&nbsp; 5660698 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;63728 | &nbsp;&nbsp;&nbsp;&nbsp; 18878783 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;62579 | &nbsp;&nbsp;&nbsp;&nbsp; 8915004 |
| &nbsp;&nbsp;&nbsp;Northern Trust Corp. | &nbsp;&nbsp;&nbsp;&nbsp;38391 | &nbsp;&nbsp;&nbsp;&nbsp; 4990830 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | &nbsp;&nbsp;&nbsp;&nbsp;56981 | &nbsp;&nbsp;&nbsp;&nbsp; 6367627 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;133597 | &nbsp;&nbsp;&nbsp;&nbsp; 10771926 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;74283562 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| &nbsp;&nbsp;&nbsp;PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4194 | &nbsp;&nbsp;&nbsp;&nbsp; 578436 |
| **Biotechnology — 2.8%** | **Biotechnology — 2.8%** | **Biotechnology — 2.8%** |
| &nbsp;&nbsp;&nbsp;Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15433 | &nbsp;&nbsp;&nbsp;&nbsp; 4554278 |
| &nbsp;&nbsp;&nbsp;Biogen, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;29581 | &nbsp;&nbsp;&nbsp;&nbsp; 3786368 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;67358 | &nbsp;&nbsp;&nbsp;&nbsp; 7563630 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;15904276 |
| **Building Materials — 2.5%** | **Building Materials — 2.5%** | **Building Materials — 2.5%** |
| &nbsp;&nbsp;&nbsp;CRH PLC | &nbsp;&nbsp;&nbsp;&nbsp;68200 | &nbsp;&nbsp;&nbsp;&nbsp; 6509690 |
| &nbsp;&nbsp;&nbsp;Johnson Controls International PLC | &nbsp;&nbsp;&nbsp;&nbsp;49600 | &nbsp;&nbsp;&nbsp;&nbsp; 5208000 |
| &nbsp;&nbsp;&nbsp;Owens Corning | &nbsp;&nbsp;&nbsp;&nbsp;16843 | &nbsp;&nbsp;&nbsp;&nbsp; 2348420 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14066110 |
| **Chemicals — 0.7%** | **Chemicals — 0.7%** | **Chemicals — 0.7%** |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32611 | &nbsp;&nbsp;&nbsp;&nbsp; 3027279 |
| &nbsp;&nbsp;&nbsp;Ecolab, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3773 | &nbsp;&nbsp;&nbsp;&nbsp; 987621 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4014900 |
| **Commercial Services — 1.0%** | **Commercial Services — 1.0%** | **Commercial Services — 1.0%** |
| &nbsp;&nbsp;&nbsp;ADT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21893 | &nbsp;&nbsp;&nbsp;&nbsp; 182806 |
| &nbsp;&nbsp;&nbsp;Avis Budget Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2228 | &nbsp;&nbsp;&nbsp;&nbsp; 379295 |
| &nbsp;&nbsp;&nbsp;S&P Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8807 | &nbsp;&nbsp;&nbsp;&nbsp; 4853538 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5415639 |
| **Computers — 2.0%** | **Computers — 2.0%** | **Computers — 2.0%** |
| &nbsp;&nbsp;&nbsp;Amdocs, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;22524 | &nbsp;&nbsp;&nbsp;&nbsp; 1922649 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Computers (continued)** | **Computers (continued)** | **Computers (continued)** |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;34654 | &nbsp;&nbsp;$2486771 |
| &nbsp;&nbsp;&nbsp;DXC Technology Co.† | &nbsp;&nbsp;&nbsp;&nbsp;35844 | &nbsp;&nbsp;&nbsp;&nbsp; 487837 |
| &nbsp;&nbsp;&nbsp;Genpact, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;32528 | &nbsp;&nbsp;&nbsp;&nbsp; 1432858 |
| &nbsp;&nbsp;&nbsp;HP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;104803 | &nbsp;&nbsp;&nbsp;&nbsp; 2599115 |
| &nbsp;&nbsp;&nbsp;Western Digital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;30615 | &nbsp;&nbsp;&nbsp;&nbsp; 2409094 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11338324 |
| **Cosmetics/Personal Care — 1.8%** | **Cosmetics/Personal Care — 1.8%** | **Cosmetics/Personal Care — 1.8%** |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | &nbsp;&nbsp;&nbsp;&nbsp;67946 | &nbsp;&nbsp;&nbsp;&nbsp; 5697272 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | &nbsp;&nbsp;&nbsp;&nbsp;29344 | &nbsp;&nbsp;&nbsp;&nbsp; 4415392 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10112664 |
| **Distribution/Wholesale — 0.2%** | **Distribution/Wholesale — 0.2%** | **Distribution/Wholesale — 0.2%** |
| &nbsp;&nbsp;&nbsp;WW Grainger, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1235 | &nbsp;&nbsp;&nbsp;&nbsp; 1283832 |
| **Diversified Financial Services — 2.6%** | **Diversified Financial Services — 2.6%** | **Diversified Financial Services — 2.6%** |
| &nbsp;&nbsp;&nbsp;CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5959 | &nbsp;&nbsp;&nbsp;&nbsp; 1658271 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35319 | &nbsp;&nbsp;&nbsp;&nbsp; 5902864 |
| &nbsp;&nbsp;&nbsp;SEI Investments Co. | &nbsp;&nbsp;&nbsp;&nbsp;21055 | &nbsp;&nbsp;&nbsp;&nbsp; 1855367 |
| &nbsp;&nbsp;&nbsp;T. Rowe Price Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34944 | &nbsp;&nbsp;&nbsp;&nbsp; 3545069 |
| &nbsp;&nbsp;&nbsp;Western Union Co. | &nbsp;&nbsp;&nbsp;&nbsp;53410 | &nbsp;&nbsp;&nbsp;&nbsp; 429950 |
| &nbsp;&nbsp;&nbsp;XP, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;74502 | &nbsp;&nbsp;&nbsp;&nbsp; 1202462 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14593983 |
| **Electric — 3.1%** | **Electric — 3.1%** | **Electric — 3.1%** |
| &nbsp;&nbsp;&nbsp;American Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;38913 | &nbsp;&nbsp;&nbsp;&nbsp; 4402617 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp;16801 | &nbsp;&nbsp;&nbsp;&nbsp; 2325426 |
| &nbsp;&nbsp;&nbsp;Duke Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13322 | &nbsp;&nbsp;&nbsp;&nbsp; 1620488 |
| &nbsp;&nbsp;&nbsp;Exelon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;68536 | &nbsp;&nbsp;&nbsp;&nbsp; 3080008 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;58314 | &nbsp;&nbsp;&nbsp;&nbsp; 6360891 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;17789430 |
| **Electrical Components & Equipment — 0.9%** | **Electrical Components & Equipment — 0.9%** | **Electrical Components & Equipment — 0.9%** |
| &nbsp;&nbsp;&nbsp;Acuity, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5532 | &nbsp;&nbsp;&nbsp;&nbsp; 1722388 |
| &nbsp;&nbsp;&nbsp;Eaton Corp. PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9360 | &nbsp;&nbsp;&nbsp;&nbsp; 3600979 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5323367 |
| **Electronics — 1.3%** | **Electronics — 1.3%** | **Electronics — 1.3%** |
| &nbsp;&nbsp;&nbsp;Allegion PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8216 | &nbsp;&nbsp;&nbsp;&nbsp; 1363199 |
| &nbsp;&nbsp;&nbsp;Avnet, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17672 | &nbsp;&nbsp;&nbsp;&nbsp; 935556 |
| &nbsp;&nbsp;&nbsp;Mettler-Toledo International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4123 | &nbsp;&nbsp;&nbsp;&nbsp; 5086462 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7385217 |
| **Engineering & Construction — 0.6%** | **Engineering & Construction — 0.6%** | **Engineering & Construction — 0.6%** |
| &nbsp;&nbsp;&nbsp;Jacobs Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24068 | &nbsp;&nbsp;&nbsp;&nbsp; 3414527 |
| **Food — 2.0%** | **Food — 2.0%** | **Food — 2.0%** |
| &nbsp;&nbsp;&nbsp;Ingredion, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12847 | &nbsp;&nbsp;&nbsp;&nbsp; 1689895 |
| &nbsp;&nbsp;&nbsp;Kellanova | &nbsp;&nbsp;&nbsp;&nbsp;15016 | &nbsp;&nbsp;&nbsp;&nbsp; 1198727 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | &nbsp;&nbsp;&nbsp;&nbsp;91812 | &nbsp;&nbsp;&nbsp;&nbsp; 6436021 |
| &nbsp;&nbsp;&nbsp;US Foods Holding Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;26246 | &nbsp;&nbsp;&nbsp;&nbsp; 2187079 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11511722 |
| **Gas — 0.4%** | **Gas — 0.4%** | **Gas — 0.4%** |
| &nbsp;&nbsp;&nbsp;NiSource, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28088 | &nbsp;&nbsp;&nbsp;&nbsp; 1192336 |
| &nbsp;&nbsp;&nbsp;UGI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;34256 | &nbsp;&nbsp;&nbsp;&nbsp; 1239382 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2431718 |
| **Healthcare-Products — 5.7%** | **Healthcare-Products — 5.7%** | **Healthcare-Products — 5.7%** |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;44221 | &nbsp;&nbsp;&nbsp;&nbsp; 5580248 |
| &nbsp;&nbsp;&nbsp;Agilent Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26469 | &nbsp;&nbsp;&nbsp;&nbsp; 3038906 |
| &nbsp;&nbsp;&nbsp;Boston Scientific Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;78391 | &nbsp;&nbsp;&nbsp;&nbsp; 8224784 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp;73800 | &nbsp;&nbsp;&nbsp;&nbsp; 6659712 |
| &nbsp;&nbsp;&nbsp;ResMed, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16222 | &nbsp;&nbsp;&nbsp;&nbsp; 4411410 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin Systematic U.S. Large Cap Value Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Healthcare-Products (continued)** | **Healthcare-Products (continued)** | **Healthcare-Products (continued)** |
| &nbsp;&nbsp;&nbsp;Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7544 | &nbsp;&nbsp;$2962755 |
| &nbsp;&nbsp;&nbsp;Waters Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4604 | &nbsp;&nbsp;&nbsp;&nbsp; 1329451 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;32207266 |
| **Healthcare-Services — 0.9%** | **Healthcare-Services — 0.9%** | **Healthcare-Services — 0.9%** |
| &nbsp;&nbsp;&nbsp;Cigna Group | &nbsp;&nbsp;&nbsp;&nbsp;10306 | &nbsp;&nbsp;&nbsp;&nbsp; 2755618 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9083 | &nbsp;&nbsp;&nbsp;&nbsp; 2266754 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5022372 |
| **Household Products/Wares — 0.4%** | **Household Products/Wares — 0.4%** | **Household Products/Wares — 0.4%** |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16238 | &nbsp;&nbsp;&nbsp;&nbsp; 2023580 |
| **Insurance — 7.1%** | **Insurance — 7.1%** | **Insurance — 7.1%** |
| &nbsp;&nbsp;&nbsp;Arch Capital Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;31061 | &nbsp;&nbsp;&nbsp;&nbsp; 2673110 |
| &nbsp;&nbsp;&nbsp;Assured Guaranty, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;10688 | &nbsp;&nbsp;&nbsp;&nbsp; 903991 |
| &nbsp;&nbsp;&nbsp;Axis Capital Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;16131 | &nbsp;&nbsp;&nbsp;&nbsp; 1513733 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc., Class B† | &nbsp;&nbsp;&nbsp;&nbsp;48514 | &nbsp;&nbsp;&nbsp;&nbsp; 22892786 |
| &nbsp;&nbsp;&nbsp;Globe Life, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18049 | &nbsp;&nbsp;&nbsp;&nbsp; 2535343 |
| &nbsp;&nbsp;&nbsp;Hartford Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47254 | &nbsp;&nbsp;&nbsp;&nbsp; 5877925 |
| &nbsp;&nbsp;&nbsp;MGIC Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;46162 | &nbsp;&nbsp;&nbsp;&nbsp; 1195596 |
| &nbsp;&nbsp;&nbsp;Unum Group | &nbsp;&nbsp;&nbsp;&nbsp;35372 | &nbsp;&nbsp;&nbsp;&nbsp; 2540063 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;40132547 |
| **Internet — 5.4%** | **Internet — 5.4%** | **Internet — 5.4%** |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;32213 | &nbsp;&nbsp;&nbsp;&nbsp; 6181675 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;25620 | &nbsp;&nbsp;&nbsp;&nbsp; 4941073 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;39450 | &nbsp;&nbsp;&nbsp;&nbsp; 9235639 |
| &nbsp;&nbsp;&nbsp;Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399 | &nbsp;&nbsp;&nbsp;&nbsp; 2196120 |
| &nbsp;&nbsp;&nbsp;F5, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6869 | &nbsp;&nbsp;&nbsp;&nbsp; 2152882 |
| &nbsp;&nbsp;&nbsp;Gen Digital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;97316 | &nbsp;&nbsp;&nbsp;&nbsp; 2869849 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3843 | &nbsp;&nbsp;&nbsp;&nbsp; 2972330 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;30549568 |
| **Leisure Time — 0.8%** | **Leisure Time — 0.8%** | **Leisure Time — 0.8%** |
| &nbsp;&nbsp;&nbsp;Carnival Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;149681 | &nbsp;&nbsp;&nbsp;&nbsp; 4456003 |
| **Lodging — 0.2%** | **Lodging — 0.2%** | **Lodging — 0.2%** |
| &nbsp;&nbsp;&nbsp;Boyd Gaming Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11706 | &nbsp;&nbsp;&nbsp;&nbsp; 993839 |
| **Machinery-Construction & Mining — 1.3%** | **Machinery-Construction & Mining — 1.3%** | **Machinery-Construction & Mining — 1.3%** |
| &nbsp;&nbsp;&nbsp;Caterpillar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16691 | &nbsp;&nbsp;&nbsp;&nbsp; 7310992 |
| **Machinery-Diversified — 0.3%** | **Machinery-Diversified — 0.3%** | **Machinery-Diversified — 0.3%** |
| &nbsp;&nbsp;&nbsp;Toro Co. | &nbsp;&nbsp;&nbsp;&nbsp;19734 | &nbsp;&nbsp;&nbsp;&nbsp; 1465250 |
| **Media — 2.0%** | **Media — 2.0%** | **Media — 2.0%** |
| &nbsp;&nbsp;&nbsp;Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;200574 | &nbsp;&nbsp;&nbsp;&nbsp; 6665074 |
| &nbsp;&nbsp;&nbsp;Fox Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;67338 | &nbsp;&nbsp;&nbsp;&nbsp; 3754767 |
| &nbsp;&nbsp;&nbsp;Liberty Global, Ltd., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;67400 | &nbsp;&nbsp;&nbsp;&nbsp; 675348 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11095189 |
| **Mining — 1.3%** | **Mining — 1.3%** | **Mining — 1.3%** |
| &nbsp;&nbsp;&nbsp;Newmont Corp. | &nbsp;&nbsp;&nbsp;&nbsp;117242 | &nbsp;&nbsp;&nbsp;&nbsp; 7280728 |
| **Miscellaneous Manufacturing — 1.2%** | **Miscellaneous Manufacturing — 1.2%** | **Miscellaneous Manufacturing — 1.2%** |
| &nbsp;&nbsp;&nbsp;3M Co. | &nbsp;&nbsp;&nbsp;&nbsp;44410 | &nbsp;&nbsp;&nbsp;&nbsp; 6626860 |
| **Oil & Gas — 3.4%** | **Oil & Gas — 3.4%** | **Oil & Gas — 3.4%** |
| &nbsp;&nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;20357 | &nbsp;&nbsp;&nbsp;&nbsp; 3086935 |
| &nbsp;&nbsp;&nbsp;EOG Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26345 | &nbsp;&nbsp;&nbsp;&nbsp; 3161927 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;62423 | &nbsp;&nbsp;&nbsp;&nbsp; 6968904 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36957 | &nbsp;&nbsp;&nbsp;&nbsp; 6289712 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;19507478 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Oil & Gas Services — 0.7%** | **Oil & Gas Services — 0.7%** | **Oil & Gas Services — 0.7%** |
| &nbsp;&nbsp;&nbsp;NOV, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;75292 | &nbsp;&nbsp;$947173 |
| &nbsp;&nbsp;&nbsp;TechnipFMC PLC | &nbsp;&nbsp;&nbsp;&nbsp;83527 | &nbsp;&nbsp;&nbsp;&nbsp; 3037877 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3985050 |
| **Packaging & Containers — 0.9%** | **Packaging & Containers — 0.9%** | **Packaging & Containers — 0.9%** |
| &nbsp;&nbsp;&nbsp;AptarGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13120 | &nbsp;&nbsp;&nbsp;&nbsp; 2061677 |
| &nbsp;&nbsp;&nbsp;Crown Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23202 | &nbsp;&nbsp;&nbsp;&nbsp; 2305351 |
| &nbsp;&nbsp;&nbsp;Sealed Air Corp. | &nbsp;&nbsp;&nbsp;&nbsp;28849 | &nbsp;&nbsp;&nbsp;&nbsp; 844410 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5211438 |
| **Pharmaceuticals — 2.0%** | **Pharmaceuticals — 2.0%** | **Pharmaceuticals — 2.0%** |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp;124946 | &nbsp;&nbsp;&nbsp;&nbsp; 5411411 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;34407 | &nbsp;&nbsp;&nbsp;&nbsp; 5668209 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11079620 |
| **Pipelines — 1.0%** | **Pipelines — 1.0%** | **Pipelines — 1.0%** |
| &nbsp;&nbsp;&nbsp;Cheniere Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23607 | &nbsp;&nbsp;&nbsp;&nbsp; 5568419 |
| **Real Estate — 1.2%** | **Real Estate — 1.2%** | **Real Estate — 1.2%** |
| &nbsp;&nbsp;&nbsp;CBRE Group, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;35237 | &nbsp;&nbsp;&nbsp;&nbsp; 5487810 |
| &nbsp;&nbsp;&nbsp;Jones Lang LaSalle, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5246 | &nbsp;&nbsp;&nbsp;&nbsp; 1418309 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6906119 |
| **REITS — 3.1%** | **REITS — 3.1%** | **REITS — 3.1%** |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18454 | &nbsp;&nbsp;&nbsp;&nbsp; 3437611 |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;144333 | &nbsp;&nbsp;&nbsp;&nbsp; 2445001 |
| &nbsp;&nbsp;&nbsp;Regency Centers Corp. | &nbsp;&nbsp;&nbsp;&nbsp;34427 | &nbsp;&nbsp;&nbsp;&nbsp; 2458088 |
| &nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30119 | &nbsp;&nbsp;&nbsp;&nbsp; 4933191 |
| &nbsp;&nbsp;&nbsp;VICI Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;123803 | &nbsp;&nbsp;&nbsp;&nbsp; 4035978 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;17309869 |
| **Retail — 5.3%** | **Retail — 5.3%** | **Retail — 5.3%** |
| &nbsp;&nbsp;&nbsp;Bath & Body Works, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;43342 | &nbsp;&nbsp;&nbsp;&nbsp; 1255185 |
| &nbsp;&nbsp;&nbsp;Best Buy Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;38574 | &nbsp;&nbsp;&nbsp;&nbsp; 2509625 |
| &nbsp;&nbsp;&nbsp;Ferguson Enterprises, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14390 | &nbsp;&nbsp;&nbsp;&nbsp; 3213719 |
| &nbsp;&nbsp;&nbsp;Gap, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24531 | &nbsp;&nbsp;&nbsp;&nbsp; 477373 |
| &nbsp;&nbsp;&nbsp;TJX Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;43355 | &nbsp;&nbsp;&nbsp;&nbsp; 5398998 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5218 | &nbsp;&nbsp;&nbsp;&nbsp; 2687322 |
| &nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;129486 | &nbsp;&nbsp;&nbsp;&nbsp; 12687038 |
| &nbsp;&nbsp;&nbsp;Williams-Sonoma, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8123 | &nbsp;&nbsp;&nbsp;&nbsp; 1519407 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;29748667 |
| **Semiconductors — 2.7%** | **Semiconductors — 2.7%** | **Semiconductors — 2.7%** |
| &nbsp;&nbsp;&nbsp;Applied Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32720 | &nbsp;&nbsp;&nbsp;&nbsp; 5891563 |
| &nbsp;&nbsp;&nbsp;Cirrus Logic, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;11470 | &nbsp;&nbsp;&nbsp;&nbsp; 1155144 |
| &nbsp;&nbsp;&nbsp;QUALCOMM, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52156 | &nbsp;&nbsp;&nbsp;&nbsp; 7654415 |
| &nbsp;&nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4303 | &nbsp;&nbsp;&nbsp;&nbsp; 779101 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;15480223 |
| **Software — 3.1%** | **Software — 3.1%** | **Software — 3.1%** |
| &nbsp;&nbsp;&nbsp;Dropbox, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;29442 | &nbsp;&nbsp;&nbsp;&nbsp; 799939 |
| &nbsp;&nbsp;&nbsp;Electronic Arts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42491 | &nbsp;&nbsp;&nbsp;&nbsp; 6479453 |
| &nbsp;&nbsp;&nbsp;Paycom Software, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4656 | &nbsp;&nbsp;&nbsp;&nbsp; 1078050 |
| &nbsp;&nbsp;&nbsp;Salesforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21610 | &nbsp;&nbsp;&nbsp;&nbsp; 5582511 |
| &nbsp;&nbsp;&nbsp;Zoom Communications, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;52624 | &nbsp;&nbsp;&nbsp;&nbsp; 3896807 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;17836760 |
| **Telecommunications — 4.8%** | **Telecommunications — 4.8%** | **Telecommunications — 4.8%** |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;340813 | &nbsp;&nbsp;&nbsp;&nbsp; 9341684 |
| &nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;159801 | &nbsp;&nbsp;&nbsp;&nbsp; 10879252 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11635 | &nbsp;&nbsp;&nbsp;&nbsp; 5107532 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40906 | &nbsp;&nbsp;&nbsp;&nbsp; 1749141 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;27077609 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin Systematic U.S. Large Cap Value Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Transportation — 1.6%** | **Transportation — 1.6%** | **Transportation — 1.6%** |
| &nbsp;&nbsp;&nbsp;C.H. Robinson Worldwide, Inc. | &nbsp;&nbsp; 19583 | &nbsp;&nbsp;$2258312 |
| &nbsp;&nbsp;&nbsp;FedEx Corp. | &nbsp;&nbsp; 16564 | &nbsp;&nbsp;&nbsp;&nbsp; 3701888 |
| &nbsp;&nbsp;&nbsp;JB Hunt Transport Services, Inc. | &nbsp;&nbsp; 13363 | &nbsp;&nbsp;&nbsp;&nbsp; 1924940 |
| &nbsp;&nbsp;&nbsp;Ryder System, Inc. | &nbsp;&nbsp; 8058 | &nbsp;&nbsp;&nbsp;&nbsp; 1431987 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9317127 |
| **Water — 0.1%** | **Water — 0.1%** | **Water — 0.1%** |
| &nbsp;&nbsp;&nbsp;American Water Works Co., Inc. | &nbsp;&nbsp; 3899 | &nbsp;&nbsp;&nbsp;&nbsp; 546796 |
| **Total Long-Term Investment Securities<br> (cost $502,984,042)** |  | &nbsp;&nbsp;&nbsp;&nbsp;563164612 |
| **SHORT-TERM INVESTMENTS — 0.5%** | **SHORT-TERM INVESTMENTS — 0.5%** | **SHORT-TERM INVESTMENTS — 0.5%** |
| **U.S. Government Agency — 0.5%** | **U.S. Government Agency — 0.5%** | **U.S. Government Agency — 0.5%** |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Bank Disc. Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.18%, 08/01/2025 | $2805000 | &nbsp;&nbsp;&nbsp;&nbsp; 2804670 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Unaffiliated Investment Companies — 0.0%** | **Unaffiliated Investment Companies — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(1) | &nbsp;&nbsp;&nbsp;&nbsp;52880 | &nbsp;&nbsp;$52880 |
| **Total Short-Term Investments<br> (cost $2,857,880)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2857550 |
| **TOTAL INVESTMENTS<br> (cost $505,841,922)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;&nbsp;&nbsp;566022162 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.0) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(147154) |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$565875008 |

---

† Non-income producing security

(1) The rate shown is the 7-day yield as of July 31, 2025.

(2) See Note 4 for cost of investments on a tax basis.

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$563164612 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$563164612 |
| Short-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Government Agency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2804670 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2804670 |
| &nbsp;&nbsp;&nbsp;Other Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52880 |
| **Total Investments at Value** | &nbsp;&nbsp;$563217492 | &nbsp;&nbsp;$2804670 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$566022162 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin Tactical Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 64.2%** | **COMMON STOCKS — 64.2%** | **COMMON STOCKS — 64.2%** |
| **Aerospace/Defense — 1.6%** | **Aerospace/Defense — 1.6%** | **Aerospace/Defense — 1.6%** |
| &nbsp;&nbsp;&nbsp;Airbus SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527 | &nbsp;&nbsp;$105873 |
| &nbsp;&nbsp;&nbsp;Airbus SE ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3712 | &nbsp;&nbsp;&nbsp;&nbsp; 186491 |
| &nbsp;&nbsp;&nbsp;Astronics Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp; 24381 |
| &nbsp;&nbsp;&nbsp;BAE Systems PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7967 | &nbsp;&nbsp;&nbsp;&nbsp; 189810 |
| &nbsp;&nbsp;&nbsp;Boeing Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1072 | &nbsp;&nbsp;&nbsp;&nbsp; 237812 |
| &nbsp;&nbsp;&nbsp;Ducommun, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284 | &nbsp;&nbsp;&nbsp;&nbsp; 25838 |
| &nbsp;&nbsp;&nbsp;General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp; 56090 |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123 | &nbsp;&nbsp;&nbsp;&nbsp; 33803 |
| &nbsp;&nbsp;&nbsp;Leonardo SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1370 | &nbsp;&nbsp;&nbsp;&nbsp; 73904 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307 | &nbsp;&nbsp;&nbsp;&nbsp; 129241 |
| &nbsp;&nbsp;&nbsp;Rolls-Royce Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9393 | &nbsp;&nbsp;&nbsp;&nbsp; 132980 |
| &nbsp;&nbsp;&nbsp;RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2993 | &nbsp;&nbsp;&nbsp;&nbsp; 471607 |
| &nbsp;&nbsp;&nbsp;Safran SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp; 46253 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1714083 |
| **Agriculture — 0.2%** | **Agriculture — 0.2%** | **Agriculture — 0.2%** |
| &nbsp;&nbsp;&nbsp;Altria Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2478 | &nbsp;&nbsp;&nbsp;&nbsp; 153487 |
| &nbsp;&nbsp;&nbsp;Dole PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1307 | &nbsp;&nbsp;&nbsp;&nbsp; 18612 |
| &nbsp;&nbsp;&nbsp;Imperial Brands PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1440 | &nbsp;&nbsp;&nbsp;&nbsp; 56177 |
| &nbsp;&nbsp;&nbsp;Turning Point Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;&nbsp; 21233 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249509 |
| **Airlines — 0.1%** | **Airlines — 0.1%** | **Airlines — 0.1%** |
| &nbsp;&nbsp;&nbsp;Delta Air Lines, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 21284 |
| &nbsp;&nbsp;&nbsp;SkyWest, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462 | &nbsp;&nbsp;&nbsp;&nbsp; 53574 |
| &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412 | &nbsp;&nbsp;&nbsp;&nbsp; 12743 |
| &nbsp;&nbsp;&nbsp;United Airlines Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251 | &nbsp;&nbsp;&nbsp;&nbsp; 22166 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109767 |
| **Apparel — 0.3%** | **Apparel — 0.3%** | **Apparel — 0.3%** |
| &nbsp;&nbsp;&nbsp;adidas AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 57534 |
| &nbsp;&nbsp;&nbsp;Asics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp; 63883 |
| &nbsp;&nbsp;&nbsp;Burberry Group PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2186 | &nbsp;&nbsp;&nbsp;&nbsp; 37256 |
| &nbsp;&nbsp;&nbsp;Hanesbrands, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3405 | &nbsp;&nbsp;&nbsp;&nbsp; 13926 |
| &nbsp;&nbsp;&nbsp;Hermes International S.C.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp;&nbsp;&nbsp; 95734 |
| &nbsp;&nbsp;&nbsp;LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp; 48514 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316847 |
| **Auto Manufacturers — 0.9%** | **Auto Manufacturers — 0.9%** | **Auto Manufacturers — 0.9%** |
| &nbsp;&nbsp;&nbsp;Blue Bird Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;724 | &nbsp;&nbsp;&nbsp;&nbsp; 32428 |
| &nbsp;&nbsp;&nbsp;Cummins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp; 33086 |
| &nbsp;&nbsp;&nbsp;Ford Motor Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3034 | &nbsp;&nbsp;&nbsp;&nbsp; 33586 |
| &nbsp;&nbsp;&nbsp;General Motors Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742 | &nbsp;&nbsp;&nbsp;&nbsp; 39578 |
| &nbsp;&nbsp;&nbsp;Isuzu Motors, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 14206 |
| &nbsp;&nbsp;&nbsp;Kia Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882 | &nbsp;&nbsp;&nbsp;&nbsp; 65062 |
| &nbsp;&nbsp;&nbsp;Mercedes-Benz Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1287 | &nbsp;&nbsp;&nbsp;&nbsp; 73583 |
| &nbsp;&nbsp;&nbsp;PACCAR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408 | &nbsp;&nbsp;&nbsp;&nbsp; 40294 |
| &nbsp;&nbsp;&nbsp;REV Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;749 | &nbsp;&nbsp;&nbsp;&nbsp; 37113 |
| &nbsp;&nbsp;&nbsp;Subaru Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp; 84786 |
| &nbsp;&nbsp;&nbsp;Tesla, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1269 | &nbsp;&nbsp;&nbsp;&nbsp; 391195 |
| &nbsp;&nbsp;&nbsp;Toyota Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp; 53644 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898561 |
| **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** |
| &nbsp;&nbsp;&nbsp;Allison Transmission Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57 | &nbsp;&nbsp;&nbsp;&nbsp; 5134 |
| &nbsp;&nbsp;&nbsp;BorgWarner, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147 | &nbsp;&nbsp;&nbsp;&nbsp; 5410 |
| &nbsp;&nbsp;&nbsp;Cheng Shin Rubber Industry Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;39000 | &nbsp;&nbsp;&nbsp;&nbsp; 52396 |
| &nbsp;&nbsp;&nbsp;Continental AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657 | &nbsp;&nbsp;&nbsp;&nbsp; 56383 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119323 |
| **Banks — 5.1%** | **Banks — 5.1%** | **Banks — 5.1%** |
| &nbsp;&nbsp;&nbsp;AIB Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;12143 | &nbsp;&nbsp;&nbsp;&nbsp; 96310 |
| &nbsp;&nbsp;&nbsp;Amalgamated Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637 | &nbsp;&nbsp;&nbsp;&nbsp; 18467 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;Associated Banc-Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp;$18926 |
| &nbsp;&nbsp;&nbsp;Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2990 | &nbsp;&nbsp;&nbsp;&nbsp; 49954 |
| &nbsp;&nbsp;&nbsp;Banco de Sabadell SA | &nbsp;&nbsp;&nbsp;&nbsp;17139 | &nbsp;&nbsp;&nbsp;&nbsp; 63391 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | &nbsp;&nbsp;&nbsp;&nbsp;16654 | &nbsp;&nbsp;&nbsp;&nbsp; 143226 |
| &nbsp;&nbsp;&nbsp;Bancorp, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551 | &nbsp;&nbsp;&nbsp;&nbsp; 34801 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;14548 | &nbsp;&nbsp;&nbsp;&nbsp; 687684 |
| &nbsp;&nbsp;&nbsp;Bank of N.T. Butterfield & Son, Ltd.(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831 | &nbsp;&nbsp;&nbsp;&nbsp; 37819 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1440 | &nbsp;&nbsp;&nbsp;&nbsp; 146088 |
| &nbsp;&nbsp;&nbsp;BankUnited, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689 | &nbsp;&nbsp;&nbsp;&nbsp; 25128 |
| &nbsp;&nbsp;&nbsp;Barclays PLC | &nbsp;&nbsp;&nbsp;&nbsp;18178 | &nbsp;&nbsp;&nbsp;&nbsp; 89137 |
| &nbsp;&nbsp;&nbsp;BAWAG Group AG\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp; 62590 |
| &nbsp;&nbsp;&nbsp;BayCom Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346 | &nbsp;&nbsp;&nbsp;&nbsp; 9345 |
| &nbsp;&nbsp;&nbsp;BNP Paribas SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1804 | &nbsp;&nbsp;&nbsp;&nbsp; 164821 |
| &nbsp;&nbsp;&nbsp;Central Pacific Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452 | &nbsp;&nbsp;&nbsp;&nbsp; 12050 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1620 | &nbsp;&nbsp;&nbsp;&nbsp; 151794 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244 | &nbsp;&nbsp;&nbsp;&nbsp; 11644 |
| &nbsp;&nbsp;&nbsp;CNB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576 | &nbsp;&nbsp;&nbsp;&nbsp; 13219 |
| &nbsp;&nbsp;&nbsp;Comerica, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp; 3581 |
| &nbsp;&nbsp;&nbsp;Commerce Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp;&nbsp;&nbsp; 4406 |
| &nbsp;&nbsp;&nbsp;Commonwealth Bank of Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;794 | &nbsp;&nbsp;&nbsp;&nbsp; 90781 |
| &nbsp;&nbsp;&nbsp;Cullen/Frost Bankers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp;&nbsp;&nbsp; 3568 |
| &nbsp;&nbsp;&nbsp;Customers Bancorp, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;&nbsp; 28369 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3731 | &nbsp;&nbsp;&nbsp;&nbsp; 123413 |
| &nbsp;&nbsp;&nbsp;DNB Bank ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1982 | &nbsp;&nbsp;&nbsp;&nbsp; 50285 |
| &nbsp;&nbsp;&nbsp;Eagle Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452 | &nbsp;&nbsp;&nbsp;&nbsp; 7273 |
| &nbsp;&nbsp;&nbsp;East West Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74 | &nbsp;&nbsp;&nbsp;&nbsp; 7419 |
| &nbsp;&nbsp;&nbsp;Enterprise Financial Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp;&nbsp;&nbsp; 16005 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306 | &nbsp;&nbsp;&nbsp;&nbsp; 12720 |
| &nbsp;&nbsp;&nbsp;First BanCorp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2237 | &nbsp;&nbsp;&nbsp;&nbsp; 46597 |
| &nbsp;&nbsp;&nbsp;First Citizens BancShares, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp; 13963 |
| &nbsp;&nbsp;&nbsp;First Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376 | &nbsp;&nbsp;&nbsp;&nbsp; 20135 |
| &nbsp;&nbsp;&nbsp;First Horizon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 4362 |
| &nbsp;&nbsp;&nbsp;First Internet Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209 | &nbsp;&nbsp;&nbsp;&nbsp; 4583 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191 | &nbsp;&nbsp;&nbsp;&nbsp; 138206 |
| &nbsp;&nbsp;&nbsp;Guaranty Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363 | &nbsp;&nbsp;&nbsp;&nbsp; 15830 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;14125 | &nbsp;&nbsp;&nbsp;&nbsp; 172141 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;778 | &nbsp;&nbsp;&nbsp;&nbsp; 12783 |
| &nbsp;&nbsp;&nbsp;Independent Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368 | &nbsp;&nbsp;&nbsp;&nbsp; 23386 |
| &nbsp;&nbsp;&nbsp;Independent Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573 | &nbsp;&nbsp;&nbsp;&nbsp; 17505 |
| &nbsp;&nbsp;&nbsp;ING Groep NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3655 | &nbsp;&nbsp;&nbsp;&nbsp; 85466 |
| &nbsp;&nbsp;&nbsp;Intesa Sanpaolo SpA | &nbsp;&nbsp;&nbsp;&nbsp;22681 | &nbsp;&nbsp;&nbsp;&nbsp; 137053 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3143 | &nbsp;&nbsp;&nbsp;&nbsp; 931082 |
| &nbsp;&nbsp;&nbsp;KBC Group NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672 | &nbsp;&nbsp;&nbsp;&nbsp; 70370 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;97856 | &nbsp;&nbsp;&nbsp;&nbsp; 100544 |
| &nbsp;&nbsp;&nbsp;M&T Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp; 13209 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7700 | &nbsp;&nbsp;&nbsp;&nbsp; 107764 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989 | &nbsp;&nbsp;&nbsp;&nbsp; 140893 |
| &nbsp;&nbsp;&nbsp;NatWest Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;19818 | &nbsp;&nbsp;&nbsp;&nbsp; 137930 |
| &nbsp;&nbsp;&nbsp;Northeast Community Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777 | &nbsp;&nbsp;&nbsp;&nbsp; 16053 |
| &nbsp;&nbsp;&nbsp;Northern Trust Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127 | &nbsp;&nbsp;&nbsp;&nbsp; 16510 |
| &nbsp;&nbsp;&nbsp;OFG Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751 | &nbsp;&nbsp;&nbsp;&nbsp; 32008 |
| &nbsp;&nbsp;&nbsp;Pathward Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218 | &nbsp;&nbsp;&nbsp;&nbsp; 16486 |
| &nbsp;&nbsp;&nbsp;Piraeus Financial Holdings SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6522 | &nbsp;&nbsp;&nbsp;&nbsp; 50388 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214 | &nbsp;&nbsp;&nbsp;&nbsp; 40718 |
| &nbsp;&nbsp;&nbsp;Preferred Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213 | &nbsp;&nbsp;&nbsp;&nbsp; 19345 |
| &nbsp;&nbsp;&nbsp;Rakuten Bank, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp; 42255 |
| &nbsp;&nbsp;&nbsp;Regions Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492 | &nbsp;&nbsp;&nbsp;&nbsp; 12462 |
| &nbsp;&nbsp;&nbsp;ServisFirst Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79 | &nbsp;&nbsp;&nbsp;&nbsp; 6213 |
| &nbsp;&nbsp;&nbsp;Shinhan Financial Group Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1053 | &nbsp;&nbsp;&nbsp;&nbsp; 51633 |
| &nbsp;&nbsp;&nbsp;Standard Chartered PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3718 | &nbsp;&nbsp;&nbsp;&nbsp; 66803 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp; 21233 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 38346 |
| &nbsp;&nbsp;&nbsp;Truist Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 21855 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin Tactical Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;TrustCo Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406 | &nbsp;&nbsp;$13625 |
| &nbsp;&nbsp;&nbsp;UBS Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777 | &nbsp;&nbsp;&nbsp;&nbsp; 29119 |
| &nbsp;&nbsp;&nbsp;UniCredit SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2831 | &nbsp;&nbsp;&nbsp;&nbsp; 208802 |
| &nbsp;&nbsp;&nbsp;Univest Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604 | &nbsp;&nbsp;&nbsp;&nbsp; 17419 |
| &nbsp;&nbsp;&nbsp;US Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620 | &nbsp;&nbsp;&nbsp;&nbsp; 27875 |
| &nbsp;&nbsp;&nbsp;Webster Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93 | &nbsp;&nbsp;&nbsp;&nbsp; 5361 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2493 | &nbsp;&nbsp;&nbsp;&nbsp; 201011 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1972 | &nbsp;&nbsp;&nbsp;&nbsp; 42860 |
| &nbsp;&nbsp;&nbsp;Zions Bancorp NA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp; 2574 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5378970 |
| **Beverages — 0.6%** | **Beverages — 0.6%** | **Beverages — 0.6%** |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev SA NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785 | &nbsp;&nbsp;&nbsp;&nbsp; 46046 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3237 | &nbsp;&nbsp;&nbsp;&nbsp; 219760 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Consolidated, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp; 6705 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Femsa SAB de CV ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301 | &nbsp;&nbsp;&nbsp;&nbsp; 24995 |
| &nbsp;&nbsp;&nbsp;Coca-Cola HBC AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1283 | &nbsp;&nbsp;&nbsp;&nbsp; 66861 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1055 | &nbsp;&nbsp;&nbsp;&nbsp; 34446 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage Co., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137 | &nbsp;&nbsp;&nbsp;&nbsp; 6674 |
| &nbsp;&nbsp;&nbsp;Monster Beverage Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3264 | &nbsp;&nbsp;&nbsp;&nbsp; 191760 |
| &nbsp;&nbsp;&nbsp;PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302 | &nbsp;&nbsp;&nbsp;&nbsp; 41652 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638899 |
| **Biotechnology — 0.8%** | **Biotechnology — 0.8%** | **Biotechnology — 0.8%** |
| &nbsp;&nbsp;&nbsp;ACADIA Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;741 | &nbsp;&nbsp;&nbsp;&nbsp; 17658 |
| &nbsp;&nbsp;&nbsp;ADMA Biologics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1157 | &nbsp;&nbsp;&nbsp;&nbsp; 21636 |
| &nbsp;&nbsp;&nbsp;Akeso, Inc.\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 19694 |
| &nbsp;&nbsp;&nbsp;Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581 | &nbsp;&nbsp;&nbsp;&nbsp; 171453 |
| &nbsp;&nbsp;&nbsp;Amicus Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949 | &nbsp;&nbsp;&nbsp;&nbsp; 5684 |
| &nbsp;&nbsp;&nbsp;ANI Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;&nbsp;&nbsp; 4941 |
| &nbsp;&nbsp;&nbsp;Arcellx, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp; 16063 |
| &nbsp;&nbsp;&nbsp;Arcutis Biotherapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498 | &nbsp;&nbsp;&nbsp;&nbsp; 7261 |
| &nbsp;&nbsp;&nbsp;Ardelyx, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;&nbsp; 8565 |
| &nbsp;&nbsp;&nbsp;Arrowhead Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;897 | &nbsp;&nbsp;&nbsp;&nbsp; 14173 |
| &nbsp;&nbsp;&nbsp;Aurinia Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1585 | &nbsp;&nbsp;&nbsp;&nbsp; 14653 |
| &nbsp;&nbsp;&nbsp;Avidity Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253 | &nbsp;&nbsp;&nbsp;&nbsp; 9288 |
| &nbsp;&nbsp;&nbsp;BioCryst Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1539 | &nbsp;&nbsp;&nbsp;&nbsp; 12527 |
| &nbsp;&nbsp;&nbsp;Bridgebio Pharma, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376 | &nbsp;&nbsp;&nbsp;&nbsp; 17774 |
| &nbsp;&nbsp;&nbsp;Corteva, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp; 38229 |
| &nbsp;&nbsp;&nbsp;Dynavax Technologies Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486 | &nbsp;&nbsp;&nbsp;&nbsp; 5336 |
| &nbsp;&nbsp;&nbsp;Exelixis, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212 | &nbsp;&nbsp;&nbsp;&nbsp; 7679 |
| &nbsp;&nbsp;&nbsp;Genmab A/S† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149 | &nbsp;&nbsp;&nbsp;&nbsp; 32747 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1629 | &nbsp;&nbsp;&nbsp;&nbsp; 182920 |
| &nbsp;&nbsp;&nbsp;Halozyme Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp; 4858 |
| &nbsp;&nbsp;&nbsp;Innoviva, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071 | &nbsp;&nbsp;&nbsp;&nbsp; 19460 |
| &nbsp;&nbsp;&nbsp;Janux Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124 | &nbsp;&nbsp;&nbsp;&nbsp; 2978 |
| &nbsp;&nbsp;&nbsp;Krystal Biotech, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp; 12463 |
| &nbsp;&nbsp;&nbsp;Kymera Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122 | &nbsp;&nbsp;&nbsp;&nbsp; 5337 |
| &nbsp;&nbsp;&nbsp;Ligand Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp;&nbsp; 24342 |
| &nbsp;&nbsp;&nbsp;Mustang Bio, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp; 3 |
| &nbsp;&nbsp;&nbsp;Myriad Genetics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp; 1382 |
| &nbsp;&nbsp;&nbsp;Niagen Bioscience, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2777 | &nbsp;&nbsp;&nbsp;&nbsp; 25965 |
| &nbsp;&nbsp;&nbsp;Novavax, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp; 2394 |
| &nbsp;&nbsp;&nbsp;Nuvalent, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp; 3917 |
| &nbsp;&nbsp;&nbsp;Organogenesis Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953 | &nbsp;&nbsp;&nbsp;&nbsp; 4403 |
| &nbsp;&nbsp;&nbsp;PDL BioPharma, Inc.†(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3800 | &nbsp;&nbsp;&nbsp;&nbsp; 238 |
| &nbsp;&nbsp;&nbsp;PTC Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp;&nbsp;&nbsp; 21105 |
| &nbsp;&nbsp;&nbsp;Puma Biotechnology, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3632 | &nbsp;&nbsp;&nbsp;&nbsp; 11296 |
| &nbsp;&nbsp;&nbsp;REGENXBIO, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp;&nbsp; 1957 |
| &nbsp;&nbsp;&nbsp;Rigel Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626 | &nbsp;&nbsp;&nbsp;&nbsp; 13184 |
| &nbsp;&nbsp;&nbsp;Roivant Sciences, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492 | &nbsp;&nbsp;&nbsp;&nbsp; 5589 |
| &nbsp;&nbsp;&nbsp;Soleno Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp;&nbsp;&nbsp; 5880 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Biotechnology (continued)** | **Biotechnology (continued)** | **Biotechnology (continued)** |
| &nbsp;&nbsp;&nbsp;Spyre Therapeutics, Inc.†(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;$0 |
| &nbsp;&nbsp;&nbsp;Stoke Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1054 | &nbsp;&nbsp;&nbsp;&nbsp; 13544 |
| &nbsp;&nbsp;&nbsp;Surface Oncology†(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2413 | &nbsp;&nbsp;&nbsp;&nbsp; 269 |
| &nbsp;&nbsp;&nbsp;TG Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;726 | &nbsp;&nbsp;&nbsp;&nbsp; 25773 |
| &nbsp;&nbsp;&nbsp;Theravance Biopharma, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458 | &nbsp;&nbsp;&nbsp;&nbsp; 5111 |
| &nbsp;&nbsp;&nbsp;Tvardi Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp; 286 |
| &nbsp;&nbsp;&nbsp;United Therapeutics Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp;&nbsp;&nbsp; 7966 |
| &nbsp;&nbsp;&nbsp;Veracyte, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490 | &nbsp;&nbsp;&nbsp;&nbsp; 11520 |
| &nbsp;&nbsp;&nbsp;Vericel Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319 | &nbsp;&nbsp;&nbsp;&nbsp; 11146 |
| &nbsp;&nbsp;&nbsp;XOMA Royalty Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 | &nbsp;&nbsp;&nbsp;&nbsp; 2463 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;853110 |
| **Building Materials — 0.8%** | **Building Materials — 0.8%** | **Building Materials — 0.8%** |
| &nbsp;&nbsp;&nbsp;Amrize, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646 | &nbsp;&nbsp;&nbsp;&nbsp; 32656 |
| &nbsp;&nbsp;&nbsp;Cie de Saint-Gobain SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;868 | &nbsp;&nbsp;&nbsp;&nbsp; 99353 |
| &nbsp;&nbsp;&nbsp;CRH PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489 | &nbsp;&nbsp;&nbsp;&nbsp; 46675 |
| &nbsp;&nbsp;&nbsp;Geberit AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88 | &nbsp;&nbsp;&nbsp;&nbsp; 67605 |
| &nbsp;&nbsp;&nbsp;Heidelberg Materials AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394 | &nbsp;&nbsp;&nbsp;&nbsp; 91051 |
| &nbsp;&nbsp;&nbsp;Holcim AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646 | &nbsp;&nbsp;&nbsp;&nbsp; 51680 |
| &nbsp;&nbsp;&nbsp;LSI Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1062 | &nbsp;&nbsp;&nbsp;&nbsp; 19435 |
| &nbsp;&nbsp;&nbsp;Masco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;&nbsp; 11514 |
| &nbsp;&nbsp;&nbsp;Modine Manufacturing Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376 | &nbsp;&nbsp;&nbsp;&nbsp; 50595 |
| &nbsp;&nbsp;&nbsp;Owens Corning | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp;&nbsp;&nbsp; 9202 |
| &nbsp;&nbsp;&nbsp;Tecnoglass, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276 | &nbsp;&nbsp;&nbsp;&nbsp; 21536 |
| &nbsp;&nbsp;&nbsp;UFP Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp;&nbsp;&nbsp; 3822 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023 | &nbsp;&nbsp;&nbsp;&nbsp; 280987 |
| &nbsp;&nbsp;&nbsp;Wienerberger AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080 | &nbsp;&nbsp;&nbsp;&nbsp; 36383 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822494 |
| **Chemicals — 1.2%** | **Chemicals — 1.2%** | **Chemicals — 1.2%** |
| &nbsp;&nbsp;&nbsp;Air Liquide SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173 | &nbsp;&nbsp;&nbsp;&nbsp; 34115 |
| &nbsp;&nbsp;&nbsp;Asahi Kasei Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp; 20298 |
| &nbsp;&nbsp;&nbsp;Axalta Coating Systems, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143 | &nbsp;&nbsp;&nbsp;&nbsp; 4050 |
| &nbsp;&nbsp;&nbsp;BASF SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;901 | &nbsp;&nbsp;&nbsp;&nbsp; 44378 |
| &nbsp;&nbsp;&nbsp;Cabot Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287 | &nbsp;&nbsp;&nbsp;&nbsp; 20716 |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517 | &nbsp;&nbsp;&nbsp;&nbsp; 47993 |
| &nbsp;&nbsp;&nbsp;Ecolab, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp;&nbsp;&nbsp; 198938 |
| &nbsp;&nbsp;&nbsp;Givaudan SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp; 33595 |
| &nbsp;&nbsp;&nbsp;Hawkins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231 | &nbsp;&nbsp;&nbsp;&nbsp; 37718 |
| &nbsp;&nbsp;&nbsp;Kronos Worldwide, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1212 | &nbsp;&nbsp;&nbsp;&nbsp; 6484 |
| &nbsp;&nbsp;&nbsp;Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp; 368208 |
| &nbsp;&nbsp;&nbsp;Mosaic Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229 | &nbsp;&nbsp;&nbsp;&nbsp; 8246 |
| &nbsp;&nbsp;&nbsp;Nitto Denko Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp; 43741 |
| &nbsp;&nbsp;&nbsp;PPG Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164 | &nbsp;&nbsp;&nbsp;&nbsp; 17302 |
| &nbsp;&nbsp;&nbsp;Rayonier Advanced Materials, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2681 | &nbsp;&nbsp;&nbsp;&nbsp; 10295 |
| &nbsp;&nbsp;&nbsp;Sensient Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213 | &nbsp;&nbsp;&nbsp;&nbsp; 23918 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1094 | &nbsp;&nbsp;&nbsp;&nbsp; 361983 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1281978 |
| **Coal — 0.0%** | **Coal — 0.0%** | **Coal — 0.0%** |
| &nbsp;&nbsp;&nbsp;Peabody Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891 | &nbsp;&nbsp;&nbsp;&nbsp; 14390 |
| &nbsp;&nbsp;&nbsp;SunCoke Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1713 | &nbsp;&nbsp;&nbsp;&nbsp; 12659 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27049 |
| **Commercial Services — 1.3%** | **Commercial Services — 1.3%** | **Commercial Services — 1.3%** |
| &nbsp;&nbsp;&nbsp;ABM Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409 | &nbsp;&nbsp;&nbsp;&nbsp; 18867 |
| &nbsp;&nbsp;&nbsp;ADT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498 | &nbsp;&nbsp;&nbsp;&nbsp; 4158 |
| &nbsp;&nbsp;&nbsp;Adtalem Global Education, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338 | &nbsp;&nbsp;&nbsp;&nbsp; 38623 |
| &nbsp;&nbsp;&nbsp;American Public Education, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893 | &nbsp;&nbsp;&nbsp;&nbsp; 26361 |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1038 | &nbsp;&nbsp;&nbsp;&nbsp; 321261 |
| &nbsp;&nbsp;&nbsp;Brambles, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2992 | &nbsp;&nbsp;&nbsp;&nbsp; 45974 |
| &nbsp;&nbsp;&nbsp;Bureau Veritas SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1174 | &nbsp;&nbsp;&nbsp;&nbsp; 36227 |
| &nbsp;&nbsp;&nbsp;Cimpress PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209 | &nbsp;&nbsp;&nbsp;&nbsp; 11560 |
| &nbsp;&nbsp;&nbsp;Corpay, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;&nbsp;&nbsp; 11953 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin Tactical Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| &nbsp;&nbsp;&nbsp;Cross Country Healthcare, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;$8541 |
| &nbsp;&nbsp;&nbsp;Deluxe Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770 | &nbsp;&nbsp;&nbsp;&nbsp; 12397 |
| &nbsp;&nbsp;&nbsp;H&R Block, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp; 4891 |
| &nbsp;&nbsp;&nbsp;Legalzoom.com, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1059 | &nbsp;&nbsp;&nbsp;&nbsp; 9520 |
| &nbsp;&nbsp;&nbsp;Medifast, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316 | &nbsp;&nbsp;&nbsp;&nbsp; 4351 |
| &nbsp;&nbsp;&nbsp;PayPal Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3785 | &nbsp;&nbsp;&nbsp;&nbsp; 260257 |
| &nbsp;&nbsp;&nbsp;Perdoceo Education Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777 | &nbsp;&nbsp;&nbsp;&nbsp; 22362 |
| &nbsp;&nbsp;&nbsp;Recruit Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 90040 |
| &nbsp;&nbsp;&nbsp;RELX PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1924 | &nbsp;&nbsp;&nbsp;&nbsp; 100011 |
| &nbsp;&nbsp;&nbsp;S&P Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406 | &nbsp;&nbsp;&nbsp;&nbsp; 223747 |
| &nbsp;&nbsp;&nbsp;Sezzle, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126 | &nbsp;&nbsp;&nbsp;&nbsp; 19510 |
| &nbsp;&nbsp;&nbsp;StoneCo., Ltd., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2348 | &nbsp;&nbsp;&nbsp;&nbsp; 30007 |
| &nbsp;&nbsp;&nbsp;U-Haul Holding Co. † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp; 579 |
| &nbsp;&nbsp;&nbsp;U-Haul Holding Co. (NES) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127 | &nbsp;&nbsp;&nbsp;&nbsp; 6604 |
| &nbsp;&nbsp;&nbsp;United Rentals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp;&nbsp;&nbsp; 41498 |
| &nbsp;&nbsp;&nbsp;Wolters Kluwer NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282 | &nbsp;&nbsp;&nbsp;&nbsp; 43993 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1393292 |
| **Computers — 2.3%** | **Computers — 2.3%** | **Computers — 2.3%** |
| &nbsp;&nbsp;&nbsp;Accenture PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591 | &nbsp;&nbsp;&nbsp;&nbsp; 157856 |
| &nbsp;&nbsp;&nbsp;Amdocs, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683 | &nbsp;&nbsp;&nbsp;&nbsp; 58301 |
| &nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8047 | &nbsp;&nbsp;&nbsp;&nbsp; 1670316 |
| &nbsp;&nbsp;&nbsp;CACI International, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp;&nbsp; 7369 |
| &nbsp;&nbsp;&nbsp;Capgemini SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp;&nbsp;&nbsp; 12698 |
| &nbsp;&nbsp;&nbsp;Check Point Software Technologies, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359 | &nbsp;&nbsp;&nbsp;&nbsp; 66846 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1210 | &nbsp;&nbsp;&nbsp;&nbsp; 86830 |
| &nbsp;&nbsp;&nbsp;Dell Technologies, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;&nbsp; 35030 |
| &nbsp;&nbsp;&nbsp;Fujitsu, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3900 | &nbsp;&nbsp;&nbsp;&nbsp; 85474 |
| &nbsp;&nbsp;&nbsp;Genpact, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136 | &nbsp;&nbsp;&nbsp;&nbsp; 5991 |
| &nbsp;&nbsp;&nbsp;HP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1791 | &nbsp;&nbsp;&nbsp;&nbsp; 44417 |
| &nbsp;&nbsp;&nbsp;Insight Enterprises, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128 | &nbsp;&nbsp;&nbsp;&nbsp; 15178 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407 | &nbsp;&nbsp;&nbsp;&nbsp; 103032 |
| &nbsp;&nbsp;&nbsp;Leidos Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 15965 |
| &nbsp;&nbsp;&nbsp;NetApp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;&nbsp; 43735 |
| &nbsp;&nbsp;&nbsp;Qualys, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192 | &nbsp;&nbsp;&nbsp;&nbsp; 25549 |
| &nbsp;&nbsp;&nbsp;Unisys Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7103 | &nbsp;&nbsp;&nbsp;&nbsp; 29335 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2463922 |
| **Cosmetics/Personal Care — 0.8%** | **Cosmetics/Personal Care — 0.8%** | **Cosmetics/Personal Care — 0.8%** |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719 | &nbsp;&nbsp;&nbsp;&nbsp; 60288 |
| &nbsp;&nbsp;&nbsp;Kao Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp; 63223 |
| &nbsp;&nbsp;&nbsp;Kenvue, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012 | &nbsp;&nbsp;&nbsp;&nbsp; 21697 |
| &nbsp;&nbsp;&nbsp;L'Oreal SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp; 117747 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2307 | &nbsp;&nbsp;&nbsp;&nbsp; 347134 |
| &nbsp;&nbsp;&nbsp;Unilever PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3070 | &nbsp;&nbsp;&nbsp;&nbsp; 178718 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;788807 |
| **Distribution/Wholesale — 0.5%** | **Distribution/Wholesale — 0.5%** | **Distribution/Wholesale — 0.5%** |
| &nbsp;&nbsp;&nbsp;Fastenal Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1738 | &nbsp;&nbsp;&nbsp;&nbsp; 80174 |
| &nbsp;&nbsp;&nbsp;G-III Apparel Group, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543 | &nbsp;&nbsp;&nbsp;&nbsp; 12815 |
| &nbsp;&nbsp;&nbsp;LKQ Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;&nbsp; 5511 |
| &nbsp;&nbsp;&nbsp;Marubeni Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3310 | &nbsp;&nbsp;&nbsp;&nbsp; 68329 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 9907 |
| &nbsp;&nbsp;&nbsp;MRC Global, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1786 | &nbsp;&nbsp;&nbsp;&nbsp; 26218 |
| &nbsp;&nbsp;&nbsp;ScanSource, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539 | &nbsp;&nbsp;&nbsp;&nbsp; 20935 |
| &nbsp;&nbsp;&nbsp;WESCO International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp; 7243 |
| &nbsp;&nbsp;&nbsp;WW Grainger, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266 | &nbsp;&nbsp;&nbsp;&nbsp; 276518 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507650 |
| **Diversified Financial Services — 1.9%** | **Diversified Financial Services — 1.9%** | **Diversified Financial Services — 1.9%** |
| &nbsp;&nbsp;&nbsp;Acadian Asset Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;979 | &nbsp;&nbsp;&nbsp;&nbsp; 40912 |
| &nbsp;&nbsp;&nbsp;Ally Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp; 5678 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp;&nbsp;&nbsp; 32646 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| &nbsp;&nbsp;&nbsp;Apollo Global Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305 | &nbsp;&nbsp;$44323 |
| &nbsp;&nbsp;&nbsp;Artisan Partners Asset Management, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542 | &nbsp;&nbsp;&nbsp;&nbsp; 24526 |
| &nbsp;&nbsp;&nbsp;Bread Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318 | &nbsp;&nbsp;&nbsp;&nbsp; 19493 |
| &nbsp;&nbsp;&nbsp;CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp; 100181 |
| &nbsp;&nbsp;&nbsp;Dave, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp; 50697 |
| &nbsp;&nbsp;&nbsp;Enova International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416 | &nbsp;&nbsp;&nbsp;&nbsp; 43497 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1163 | &nbsp;&nbsp;&nbsp;&nbsp; 214957 |
| &nbsp;&nbsp;&nbsp;International Money Express, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566 | &nbsp;&nbsp;&nbsp;&nbsp; 5088 |
| &nbsp;&nbsp;&nbsp;Invesco, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144 | &nbsp;&nbsp;&nbsp;&nbsp; 3025 |
| &nbsp;&nbsp;&nbsp;Jefferies Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp;&nbsp; 7784 |
| &nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp; 84971 |
| &nbsp;&nbsp;&nbsp;Navient Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601 | &nbsp;&nbsp;&nbsp;&nbsp; 7777 |
| &nbsp;&nbsp;&nbsp;Pagseguro Digital, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3870 | &nbsp;&nbsp;&nbsp;&nbsp; 30302 |
| &nbsp;&nbsp;&nbsp;Radian Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1423 | &nbsp;&nbsp;&nbsp;&nbsp; 46404 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp;&nbsp; 22395 |
| &nbsp;&nbsp;&nbsp;SEI Investments Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83 | &nbsp;&nbsp;&nbsp;&nbsp; 7314 |
| &nbsp;&nbsp;&nbsp;Singapore Exchange, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp; 51756 |
| &nbsp;&nbsp;&nbsp;SLM Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1457 | &nbsp;&nbsp;&nbsp;&nbsp; 46333 |
| &nbsp;&nbsp;&nbsp;Stifel Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp;&nbsp;&nbsp; 6391 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254 | &nbsp;&nbsp;&nbsp;&nbsp; 17696 |
| &nbsp;&nbsp;&nbsp;T. Rowe Price Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121 | &nbsp;&nbsp;&nbsp;&nbsp; 12275 |
| &nbsp;&nbsp;&nbsp;Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3121 | &nbsp;&nbsp;&nbsp;&nbsp; 1078212 |
| &nbsp;&nbsp;&nbsp;Voya Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp;&nbsp;&nbsp; 1890 |
| &nbsp;&nbsp;&nbsp;Western Union Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2486 | &nbsp;&nbsp;&nbsp;&nbsp; 20012 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2026535 |
| **Electric — 1.1%** | **Electric — 1.1%** | **Electric — 1.1%** |
| &nbsp;&nbsp;&nbsp;Atco, Ltd., Class I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp; 68809 |
| &nbsp;&nbsp;&nbsp;CLP Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp; 30385 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624 | &nbsp;&nbsp;&nbsp;&nbsp; 64584 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp; 20762 |
| &nbsp;&nbsp;&nbsp;Duke Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478 | &nbsp;&nbsp;&nbsp;&nbsp; 58144 |
| &nbsp;&nbsp;&nbsp;Endesa SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2386 | &nbsp;&nbsp;&nbsp;&nbsp; 69026 |
| &nbsp;&nbsp;&nbsp;Engie SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6479 | &nbsp;&nbsp;&nbsp;&nbsp; 145067 |
| &nbsp;&nbsp;&nbsp;Entergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2487 | &nbsp;&nbsp;&nbsp;&nbsp; 224899 |
| &nbsp;&nbsp;&nbsp;Evergy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179 | &nbsp;&nbsp;&nbsp;&nbsp; 12673 |
| &nbsp;&nbsp;&nbsp;FirstEnergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;387 | &nbsp;&nbsp;&nbsp;&nbsp; 16529 |
| &nbsp;&nbsp;&nbsp;Genie Energy, Ltd., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481 | &nbsp;&nbsp;&nbsp;&nbsp; 9774 |
| &nbsp;&nbsp;&nbsp;Iberdrola SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6628 | &nbsp;&nbsp;&nbsp;&nbsp; 116143 |
| &nbsp;&nbsp;&nbsp;National Grid PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4664 | &nbsp;&nbsp;&nbsp;&nbsp; 65291 |
| &nbsp;&nbsp;&nbsp;NRG Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133 | &nbsp;&nbsp;&nbsp;&nbsp; 22238 |
| &nbsp;&nbsp;&nbsp;OGE Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp; 5678 |
| &nbsp;&nbsp;&nbsp;Ormat Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp;&nbsp;&nbsp; 7510 |
| &nbsp;&nbsp;&nbsp;Otter Tail Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278 | &nbsp;&nbsp;&nbsp;&nbsp; 21456 |
| &nbsp;&nbsp;&nbsp;PPL Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp;&nbsp;&nbsp; 19094 |
| &nbsp;&nbsp;&nbsp;Public Service Enterprise Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337 | &nbsp;&nbsp;&nbsp;&nbsp; 30259 |
| &nbsp;&nbsp;&nbsp;RWE AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006 | &nbsp;&nbsp;&nbsp;&nbsp; 41226 |
| &nbsp;&nbsp;&nbsp;Southern Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308 | &nbsp;&nbsp;&nbsp;&nbsp; 29100 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498 | &nbsp;&nbsp;&nbsp;&nbsp; 54322 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1132969 |
| **Electrical Components & Equipment — 1.3%** | **Electrical Components & Equipment — 1.3%** | **Electrical Components & Equipment — 1.3%** |
| &nbsp;&nbsp;&nbsp;Acuity, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp;&nbsp;&nbsp; 7472 |
| &nbsp;&nbsp;&nbsp;American Superconductor Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1053 | &nbsp;&nbsp;&nbsp;&nbsp; 59863 |
| &nbsp;&nbsp;&nbsp;Brother Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp; 46149 |
| &nbsp;&nbsp;&nbsp;Eaton Corp. PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2050 | &nbsp;&nbsp;&nbsp;&nbsp; 788676 |
| &nbsp;&nbsp;&nbsp;Emerson Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1948 | &nbsp;&nbsp;&nbsp;&nbsp; 283454 |
| &nbsp;&nbsp;&nbsp;EnerSys | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309 | &nbsp;&nbsp;&nbsp;&nbsp; 28542 |
| &nbsp;&nbsp;&nbsp;Nexans SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459 | &nbsp;&nbsp;&nbsp;&nbsp; 66262 |
| &nbsp;&nbsp;&nbsp;Powell Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158 | &nbsp;&nbsp;&nbsp;&nbsp; 37462 |
| &nbsp;&nbsp;&nbsp;Schneider Electric SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143 | &nbsp;&nbsp;&nbsp;&nbsp; 37248 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1355128 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin Tactical Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Electronics — 0.8%** | **Electronics — 0.8%** | **Electronics — 0.8%** |
| &nbsp;&nbsp;&nbsp;ABB, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1408 | &nbsp;&nbsp;$92775 |
| &nbsp;&nbsp;&nbsp;Allegion PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;&nbsp;&nbsp; 10287 |
| &nbsp;&nbsp;&nbsp;Allient, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361 | &nbsp;&nbsp;&nbsp;&nbsp; 14552 |
| &nbsp;&nbsp;&nbsp;Atkore, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492 | &nbsp;&nbsp;&nbsp;&nbsp; 37894 |
| &nbsp;&nbsp;&nbsp;Badger Meter, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116 | &nbsp;&nbsp;&nbsp;&nbsp; 21896 |
| &nbsp;&nbsp;&nbsp;Bel Fuse, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276 | &nbsp;&nbsp;&nbsp;&nbsp; 35891 |
| &nbsp;&nbsp;&nbsp;Benchmark Electronics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478 | &nbsp;&nbsp;&nbsp;&nbsp; 18403 |
| &nbsp;&nbsp;&nbsp;Honeywell International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1476 | &nbsp;&nbsp;&nbsp;&nbsp; 328189 |
| &nbsp;&nbsp;&nbsp;Hoya Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 38156 |
| &nbsp;&nbsp;&nbsp;Murata Manufacturing Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp; 36088 |
| &nbsp;&nbsp;&nbsp;NEXTracker, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;917 | &nbsp;&nbsp;&nbsp;&nbsp; 53424 |
| &nbsp;&nbsp;&nbsp;Sanmina Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334 | &nbsp;&nbsp;&nbsp;&nbsp; 38757 |
| &nbsp;&nbsp;&nbsp;TD SYNNEX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64 | &nbsp;&nbsp;&nbsp;&nbsp; 9241 |
| &nbsp;&nbsp;&nbsp;TDK Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp; 43100 |
| &nbsp;&nbsp;&nbsp;Turtle Beach Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919 | &nbsp;&nbsp;&nbsp;&nbsp; 13362 |
| &nbsp;&nbsp;&nbsp;Vicor Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524 | &nbsp;&nbsp;&nbsp;&nbsp; 23287 |
| &nbsp;&nbsp;&nbsp;Yokogawa Electric Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp; 48091 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;863393 |
| **Energy-Alternate Sources — 0.1%** | **Energy-Alternate Sources — 0.1%** | **Energy-Alternate Sources — 0.1%** |
| &nbsp;&nbsp;&nbsp;First Solar, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83 | &nbsp;&nbsp;&nbsp;&nbsp; 14503 |
| &nbsp;&nbsp;&nbsp;REX American Resources Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304 | &nbsp;&nbsp;&nbsp;&nbsp; 15893 |
| &nbsp;&nbsp;&nbsp;Shoals Technologies Group, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6111 | &nbsp;&nbsp;&nbsp;&nbsp; 32938 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63334 |
| **Engineering & Construction — 0.5%** | **Engineering & Construction — 0.5%** | **Engineering & Construction — 0.5%** |
| &nbsp;&nbsp;&nbsp;ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1025 | &nbsp;&nbsp;&nbsp;&nbsp; 70652 |
| &nbsp;&nbsp;&nbsp;Aena SME SA\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2733 | &nbsp;&nbsp;&nbsp;&nbsp; 73590 |
| &nbsp;&nbsp;&nbsp;Bouygues SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2961 | &nbsp;&nbsp;&nbsp;&nbsp; 122154 |
| &nbsp;&nbsp;&nbsp;Cellnex Telecom SA\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890 | &nbsp;&nbsp;&nbsp;&nbsp; 31486 |
| &nbsp;&nbsp;&nbsp;Dycom Industries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154 | &nbsp;&nbsp;&nbsp;&nbsp; 41397 |
| &nbsp;&nbsp;&nbsp;Eiffage SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp;&nbsp;&nbsp; 55048 |
| &nbsp;&nbsp;&nbsp;Frontdoor, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432 | &nbsp;&nbsp;&nbsp;&nbsp; 25272 |
| &nbsp;&nbsp;&nbsp;Limbach Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323 | &nbsp;&nbsp;&nbsp;&nbsp; 44251 |
| &nbsp;&nbsp;&nbsp;TopBuild Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;&nbsp;&nbsp; 8149 |
| &nbsp;&nbsp;&nbsp;Tutor Perini Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701 | &nbsp;&nbsp;&nbsp;&nbsp; 33753 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505752 |
| **Entertainment — 0.2%** | **Entertainment — 0.2%** | **Entertainment — 0.2%** |
| &nbsp;&nbsp;&nbsp;Aristocrat Leisure, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1155 | &nbsp;&nbsp;&nbsp;&nbsp; 51988 |
| &nbsp;&nbsp;&nbsp;Cinemark Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707 | &nbsp;&nbsp;&nbsp;&nbsp; 18997 |
| &nbsp;&nbsp;&nbsp;Lottomatica Group Spa | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1239 | &nbsp;&nbsp;&nbsp;&nbsp; 33426 |
| &nbsp;&nbsp;&nbsp;Rush Street Interactive, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;908 | &nbsp;&nbsp;&nbsp;&nbsp; 18305 |
| &nbsp;&nbsp;&nbsp;Super Group SGHC, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3587 | &nbsp;&nbsp;&nbsp;&nbsp; 38560 |
| &nbsp;&nbsp;&nbsp;United Parks & Resorts, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243 | &nbsp;&nbsp;&nbsp;&nbsp; 11501 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172777 |
| **Environmental Control — 0.4%** | **Environmental Control — 0.4%** | **Environmental Control — 0.4%** |
| &nbsp;&nbsp;&nbsp;Waste Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1621 | &nbsp;&nbsp;&nbsp;&nbsp; 371468 |
| **Food — 1.6%** | **Food — 1.6%** | **Food — 1.6%** |
| &nbsp;&nbsp;&nbsp;Albertsons Cos., Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp;&nbsp;&nbsp; 8361 |
| &nbsp;&nbsp;&nbsp;Cal-Maine Foods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396 | &nbsp;&nbsp;&nbsp;&nbsp; 44011 |
| &nbsp;&nbsp;&nbsp;Carrefour SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2980 | &nbsp;&nbsp;&nbsp;&nbsp; 42748 |
| &nbsp;&nbsp;&nbsp;Danone SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;&nbsp;&nbsp; 52089 |
| &nbsp;&nbsp;&nbsp;Empire Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp; 123454 |
| &nbsp;&nbsp;&nbsp;Flowers Foods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2255 | &nbsp;&nbsp;&nbsp;&nbsp; 35742 |
| &nbsp;&nbsp;&nbsp;George Weston, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497 | &nbsp;&nbsp;&nbsp;&nbsp; 94439 |
| &nbsp;&nbsp;&nbsp;Hormel Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp;&nbsp;&nbsp; 1910 |
| &nbsp;&nbsp;&nbsp;Ingredion, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp; 6577 |
| &nbsp;&nbsp;&nbsp;Kellanova | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;783 | &nbsp;&nbsp;&nbsp;&nbsp; 62507 |
| &nbsp;&nbsp;&nbsp;Kerry Group PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443 | &nbsp;&nbsp;&nbsp;&nbsp; 41025 |
| &nbsp;&nbsp;&nbsp;Koninklijke Ahold Delhaize NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3829 | &nbsp;&nbsp;&nbsp;&nbsp; 151190 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Food (continued)** | **Food (continued)** | **Food (continued)** |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781 | &nbsp;&nbsp;$21446 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1771 | &nbsp;&nbsp;&nbsp;&nbsp; 124147 |
| &nbsp;&nbsp;&nbsp;Lamb Weston Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp; 5422 |
| &nbsp;&nbsp;&nbsp;Loblaw Cos., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689 | &nbsp;&nbsp;&nbsp;&nbsp; 111420 |
| &nbsp;&nbsp;&nbsp;Marks & Spencer Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8307 | &nbsp;&nbsp;&nbsp;&nbsp; 38178 |
| &nbsp;&nbsp;&nbsp;McCormick & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2292 | &nbsp;&nbsp;&nbsp;&nbsp; 161884 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869 | &nbsp;&nbsp;&nbsp;&nbsp; 56216 |
| &nbsp;&nbsp;&nbsp;Nestle SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | &nbsp;&nbsp;&nbsp;&nbsp; 177083 |
| &nbsp;&nbsp;&nbsp;Seneca Foods Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289 | &nbsp;&nbsp;&nbsp;&nbsp; 30267 |
| &nbsp;&nbsp;&nbsp;Sysco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377 | &nbsp;&nbsp;&nbsp;&nbsp; 30009 |
| &nbsp;&nbsp;&nbsp;Tesco PLC | &nbsp;&nbsp;&nbsp;&nbsp;20099 | &nbsp;&nbsp;&nbsp;&nbsp; 112917 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222 | &nbsp;&nbsp;&nbsp;&nbsp; 11611 |
| &nbsp;&nbsp;&nbsp;WH Group, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;137000 | &nbsp;&nbsp;&nbsp;&nbsp; 138047 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1682700 |
| **Food Service — 0.1%** | **Food Service — 0.1%** | **Food Service — 0.1%** |
| &nbsp;&nbsp;&nbsp;Compass Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1758 | &nbsp;&nbsp;&nbsp;&nbsp; 61873 |
| **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** |
| &nbsp;&nbsp;&nbsp;International Paper Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1943 | &nbsp;&nbsp;&nbsp;&nbsp; 90816 |
| &nbsp;&nbsp;&nbsp;Sylvamo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp;&nbsp; 17046 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107862 |
| **Gas — 0.2%** | **Gas — 0.2%** | **Gas — 0.2%** |
| &nbsp;&nbsp;&nbsp;Canadian Utilities, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1051 | &nbsp;&nbsp;&nbsp;&nbsp; 29264 |
| &nbsp;&nbsp;&nbsp;Centrica PLC | &nbsp;&nbsp;&nbsp;&nbsp;29906 | &nbsp;&nbsp;&nbsp;&nbsp; 65009 |
| &nbsp;&nbsp;&nbsp;National Fuel Gas Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp; 5641 |
| &nbsp;&nbsp;&nbsp;Osaka Gas Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 37898 |
| &nbsp;&nbsp;&nbsp;Southwest Gas Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp;&nbsp;&nbsp; 24614 |
| &nbsp;&nbsp;&nbsp;Spire, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252 | &nbsp;&nbsp;&nbsp;&nbsp; 18767 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181193 |
| **Hand/Machine Tools — 0.1%** | **Hand/Machine Tools — 0.1%** | **Hand/Machine Tools — 0.1%** |
| &nbsp;&nbsp;&nbsp;Makita Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp; 81069 |
| &nbsp;&nbsp;&nbsp;Schindler Holding AG (Participation Certificate) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 | &nbsp;&nbsp;&nbsp;&nbsp; 56696 |
| &nbsp;&nbsp;&nbsp;Snap-on, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp;&nbsp;&nbsp; 13169 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150934 |
| **Healthcare-Products — 1.5%** | **Healthcare-Products — 1.5%** | **Healthcare-Products — 1.5%** |
| &nbsp;&nbsp;&nbsp;Adaptive Biotechnologies Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1517 | &nbsp;&nbsp;&nbsp;&nbsp; 15534 |
| &nbsp;&nbsp;&nbsp;Bioventus, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1597 | &nbsp;&nbsp;&nbsp;&nbsp; 10412 |
| &nbsp;&nbsp;&nbsp;CareDx, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022 | &nbsp;&nbsp;&nbsp;&nbsp; 12555 |
| &nbsp;&nbsp;&nbsp;Glaukos Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp;&nbsp; 11880 |
| &nbsp;&nbsp;&nbsp;Integer Holdings Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198 | &nbsp;&nbsp;&nbsp;&nbsp; 21485 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594 | &nbsp;&nbsp;&nbsp;&nbsp; 285768 |
| &nbsp;&nbsp;&nbsp;iRadimed Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151 | &nbsp;&nbsp;&nbsp;&nbsp; 8809 |
| &nbsp;&nbsp;&nbsp;iRhythm Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218 | &nbsp;&nbsp;&nbsp;&nbsp; 30559 |
| &nbsp;&nbsp;&nbsp;Lantheus Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127 | &nbsp;&nbsp;&nbsp;&nbsp; 9041 |
| &nbsp;&nbsp;&nbsp;LivaNova PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561 | &nbsp;&nbsp;&nbsp;&nbsp; 23669 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;995 | &nbsp;&nbsp;&nbsp;&nbsp; 89789 |
| &nbsp;&nbsp;&nbsp;MiMedx Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1450 | &nbsp;&nbsp;&nbsp;&nbsp; 10426 |
| &nbsp;&nbsp;&nbsp;Olympus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp; 26428 |
| &nbsp;&nbsp;&nbsp;Semler Scientific, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp; 10038 |
| &nbsp;&nbsp;&nbsp;Sonova Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106 | &nbsp;&nbsp;&nbsp;&nbsp; 29011 |
| &nbsp;&nbsp;&nbsp;Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1132 | &nbsp;&nbsp;&nbsp;&nbsp; 444570 |
| &nbsp;&nbsp;&nbsp;Tactile Systems Technology, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp;&nbsp;&nbsp; 9780 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1008 | &nbsp;&nbsp;&nbsp;&nbsp; 471421 |
| &nbsp;&nbsp;&nbsp;Twist Bioscience Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243 | &nbsp;&nbsp;&nbsp;&nbsp; 8158 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154 | &nbsp;&nbsp;&nbsp;&nbsp; 14114 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1543447 |
| **Healthcare-Services — 0.4%** | **Healthcare-Services — 0.4%** | **Healthcare-Services — 0.4%** |
| &nbsp;&nbsp;&nbsp;Cigna Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208 | &nbsp;&nbsp;&nbsp;&nbsp; 55615 |
| &nbsp;&nbsp;&nbsp;DaVita, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 | &nbsp;&nbsp;&nbsp;&nbsp; 8282 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin Tactical Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Healthcare-Services (continued)** | **Healthcare-Services (continued)** | **Healthcare-Services (continued)** |
| &nbsp;&nbsp;&nbsp;Ensign Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;$57000 |
| &nbsp;&nbsp;&nbsp;Fresenius SE & Co. KGaA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297 | &nbsp;&nbsp;&nbsp;&nbsp; 14229 |
| &nbsp;&nbsp;&nbsp;HCA Healthcare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp; 76108 |
| &nbsp;&nbsp;&nbsp;ICON PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136 | &nbsp;&nbsp;&nbsp;&nbsp; 23010 |
| &nbsp;&nbsp;&nbsp;Labcorp Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp; 16905 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp;&nbsp;&nbsp; 14230 |
| &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp;&nbsp;&nbsp; 11612 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324 | &nbsp;&nbsp;&nbsp;&nbsp; 80857 |
| &nbsp;&nbsp;&nbsp;Universal Health Services, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp; 8322 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366170 |
| **Home Builders — 0.2%** | **Home Builders — 0.2%** | **Home Builders — 0.2%** |
| &nbsp;&nbsp;&nbsp;Bellway PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826 | &nbsp;&nbsp;&nbsp;&nbsp; 27162 |
| &nbsp;&nbsp;&nbsp;Forestar Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486 | &nbsp;&nbsp;&nbsp;&nbsp; 12053 |
| &nbsp;&nbsp;&nbsp;Hovnanian Enterprises, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124 | &nbsp;&nbsp;&nbsp;&nbsp; 14814 |
| &nbsp;&nbsp;&nbsp;KB Home | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329 | &nbsp;&nbsp;&nbsp;&nbsp; 18181 |
| &nbsp;&nbsp;&nbsp;M/I Homes, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 36057 |
| &nbsp;&nbsp;&nbsp;NVR, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp; 15099 |
| &nbsp;&nbsp;&nbsp;PulteGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;&nbsp; 19084 |
| &nbsp;&nbsp;&nbsp;Toll Brothers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64 | &nbsp;&nbsp;&nbsp;&nbsp; 7575 |
| &nbsp;&nbsp;&nbsp;Winnebago Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259 | &nbsp;&nbsp;&nbsp;&nbsp; 7697 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157722 |
| **Home Furnishings — 0.3%** | **Home Furnishings — 0.3%** | **Home Furnishings — 0.3%** |
| &nbsp;&nbsp;&nbsp;Flexsteel Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252 | &nbsp;&nbsp;&nbsp;&nbsp; 8571 |
| &nbsp;&nbsp;&nbsp;Panasonic Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp; 51583 |
| &nbsp;&nbsp;&nbsp;Rational AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp;&nbsp;&nbsp; 24039 |
| &nbsp;&nbsp;&nbsp;Sony Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;&nbsp; 190448 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274641 |
| **Household Products/Wares — 0.1%** | **Household Products/Wares — 0.1%** | **Household Products/Wares — 0.1%** |
| &nbsp;&nbsp;&nbsp;Clorox Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441 | &nbsp;&nbsp;&nbsp;&nbsp; 55372 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660 | &nbsp;&nbsp;&nbsp;&nbsp; 82249 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137621 |
| **Insurance — 2.8%** | **Insurance — 2.8%** | **Insurance — 2.8%** |
| &nbsp;&nbsp;&nbsp;Aegon, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7649 | &nbsp;&nbsp;&nbsp;&nbsp; 54853 |
| &nbsp;&nbsp;&nbsp;Aflac, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;652 | &nbsp;&nbsp;&nbsp;&nbsp; 64783 |
| &nbsp;&nbsp;&nbsp;AIA Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7235 | &nbsp;&nbsp;&nbsp;&nbsp; 67650 |
| &nbsp;&nbsp;&nbsp;Allianz SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp; 136697 |
| &nbsp;&nbsp;&nbsp;Allstate Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229 | &nbsp;&nbsp;&nbsp;&nbsp; 46544 |
| &nbsp;&nbsp;&nbsp;American Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp; 5621 |
| &nbsp;&nbsp;&nbsp;Arch Capital Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196 | &nbsp;&nbsp;&nbsp;&nbsp; 16868 |
| &nbsp;&nbsp;&nbsp;Assurant, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp;&nbsp;&nbsp; 6181 |
| &nbsp;&nbsp;&nbsp;AXA SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2669 | &nbsp;&nbsp;&nbsp;&nbsp; 129997 |
| &nbsp;&nbsp;&nbsp;Axis Capital Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp; 4974 |
| &nbsp;&nbsp;&nbsp;BB Seguridade Participacoes SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9400 | &nbsp;&nbsp;&nbsp;&nbsp; 56572 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc., Class B† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960 | &nbsp;&nbsp;&nbsp;&nbsp; 453005 |
| &nbsp;&nbsp;&nbsp;Chubb, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262 | &nbsp;&nbsp;&nbsp;&nbsp; 69702 |
| &nbsp;&nbsp;&nbsp;Cincinnati Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp; 15046 |
| &nbsp;&nbsp;&nbsp;Dai-ichi Life Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9100 | &nbsp;&nbsp;&nbsp;&nbsp; 72625 |
| &nbsp;&nbsp;&nbsp;Employers Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339 | &nbsp;&nbsp;&nbsp;&nbsp; 13994 |
| &nbsp;&nbsp;&nbsp;Equitable Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp; 11040 |
| &nbsp;&nbsp;&nbsp;Essent Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515 | &nbsp;&nbsp;&nbsp;&nbsp; 28835 |
| &nbsp;&nbsp;&nbsp;Everest Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp;&nbsp;&nbsp; 9402 |
| &nbsp;&nbsp;&nbsp;Fidelity National Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146 | &nbsp;&nbsp;&nbsp;&nbsp; 8239 |
| &nbsp;&nbsp;&nbsp;Genworth Financial, Inc.,† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4658 | &nbsp;&nbsp;&nbsp;&nbsp; 36612 |
| &nbsp;&nbsp;&nbsp;Hartford Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562 | &nbsp;&nbsp;&nbsp;&nbsp; 69907 |
| &nbsp;&nbsp;&nbsp;HCI Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137 | &nbsp;&nbsp;&nbsp;&nbsp; 19185 |
| &nbsp;&nbsp;&nbsp;Jackson Financial, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603 | &nbsp;&nbsp;&nbsp;&nbsp; 52799 |
| &nbsp;&nbsp;&nbsp;Japan Post Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp; 75333 |
| &nbsp;&nbsp;&nbsp;Japan Post Insurance Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 38554 |
| &nbsp;&nbsp;&nbsp;Loews Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139 | &nbsp;&nbsp;&nbsp;&nbsp; 12585 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| &nbsp;&nbsp;&nbsp;Markel Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;$12050 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869 | &nbsp;&nbsp;&nbsp;&nbsp; 173105 |
| &nbsp;&nbsp;&nbsp;MetLife, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449 | &nbsp;&nbsp;&nbsp;&nbsp; 34102 |
| &nbsp;&nbsp;&nbsp;MGIC Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3027 | &nbsp;&nbsp;&nbsp;&nbsp; 78399 |
| &nbsp;&nbsp;&nbsp;MS&AD Insurance Group Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp; 55931 |
| &nbsp;&nbsp;&nbsp;Muenchener Rueckversicherungs-Gesellschaft AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124 | &nbsp;&nbsp;&nbsp;&nbsp; 81452 |
| &nbsp;&nbsp;&nbsp;NMI Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp;&nbsp;&nbsp; 23885 |
| &nbsp;&nbsp;&nbsp;NN Group NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;853 | &nbsp;&nbsp;&nbsp;&nbsp; 57589 |
| &nbsp;&nbsp;&nbsp;Old Republic International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162 | &nbsp;&nbsp;&nbsp;&nbsp; 5860 |
| &nbsp;&nbsp;&nbsp;Primerica, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;&nbsp;&nbsp; 5844 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147 | &nbsp;&nbsp;&nbsp;&nbsp; 11441 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281 | &nbsp;&nbsp;&nbsp;&nbsp; 68013 |
| &nbsp;&nbsp;&nbsp;Prudential Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197 | &nbsp;&nbsp;&nbsp;&nbsp; 20405 |
| &nbsp;&nbsp;&nbsp;Reinsurance Group of America, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 | &nbsp;&nbsp;&nbsp;&nbsp; 6543 |
| &nbsp;&nbsp;&nbsp;RenaissanceRe Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 | &nbsp;&nbsp;&nbsp;&nbsp; 7800 |
| &nbsp;&nbsp;&nbsp;SiriusPoint, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1650 | &nbsp;&nbsp;&nbsp;&nbsp; 32356 |
| &nbsp;&nbsp;&nbsp;Sompo Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp; 100828 |
| &nbsp;&nbsp;&nbsp;Suncorp Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4853 | &nbsp;&nbsp;&nbsp;&nbsp; 65370 |
| &nbsp;&nbsp;&nbsp;Travelers Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1478 | &nbsp;&nbsp;&nbsp;&nbsp; 384635 |
| &nbsp;&nbsp;&nbsp;Unum Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104 | &nbsp;&nbsp;&nbsp;&nbsp; 7468 |
| &nbsp;&nbsp;&nbsp;W.R. Berkley Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248 | &nbsp;&nbsp;&nbsp;&nbsp; 17065 |
| &nbsp;&nbsp;&nbsp;Willis Towers Watson PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227 | &nbsp;&nbsp;&nbsp;&nbsp; 71689 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2899433 |
| **Internet — 7.5%** | **Internet — 7.5%** | **Internet — 7.5%** |
| &nbsp;&nbsp;&nbsp;Airbnb, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1569 | &nbsp;&nbsp;&nbsp;&nbsp; 207751 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5289 | &nbsp;&nbsp;&nbsp;&nbsp; 1014959 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1090 | &nbsp;&nbsp;&nbsp;&nbsp; 210217 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8944 | &nbsp;&nbsp;&nbsp;&nbsp; 2093880 |
| &nbsp;&nbsp;&nbsp;AudioEye, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;821 | &nbsp;&nbsp;&nbsp;&nbsp; 10517 |
| &nbsp;&nbsp;&nbsp;Auto Trader Group PLC\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4027 | &nbsp;&nbsp;&nbsp;&nbsp; 44535 |
| &nbsp;&nbsp;&nbsp;Bumble, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1337 | &nbsp;&nbsp;&nbsp;&nbsp; 10402 |
| &nbsp;&nbsp;&nbsp;Cargurus, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529 | &nbsp;&nbsp;&nbsp;&nbsp; 17362 |
| &nbsp;&nbsp;&nbsp;eBay, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358 | &nbsp;&nbsp;&nbsp;&nbsp; 32846 |
| &nbsp;&nbsp;&nbsp;EverQuote, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1241 | &nbsp;&nbsp;&nbsp;&nbsp; 30516 |
| &nbsp;&nbsp;&nbsp;Expedia Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94 | &nbsp;&nbsp;&nbsp;&nbsp; 16941 |
| &nbsp;&nbsp;&nbsp;Gen Digital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1806 | &nbsp;&nbsp;&nbsp;&nbsp; 53259 |
| &nbsp;&nbsp;&nbsp;Groupon, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;943 | &nbsp;&nbsp;&nbsp;&nbsp; 29082 |
| &nbsp;&nbsp;&nbsp;HealthStream, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp; 14126 |
| &nbsp;&nbsp;&nbsp;Hims & Hers Health, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1422 | &nbsp;&nbsp;&nbsp;&nbsp; 94108 |
| &nbsp;&nbsp;&nbsp;Lands' End, Inc.†(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1177 | &nbsp;&nbsp;&nbsp;&nbsp; 13806 |
| &nbsp;&nbsp;&nbsp;LifeMD, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1338 | &nbsp;&nbsp;&nbsp;&nbsp; 13929 |
| &nbsp;&nbsp;&nbsp;LY Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3700 | &nbsp;&nbsp;&nbsp;&nbsp; 13617 |
| &nbsp;&nbsp;&nbsp;Match Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp; 6511 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2524 | &nbsp;&nbsp;&nbsp;&nbsp; 1952163 |
| &nbsp;&nbsp;&nbsp;Netflix, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;854 | &nbsp;&nbsp;&nbsp;&nbsp; 990128 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2771 | &nbsp;&nbsp;&nbsp;&nbsp; 481046 |
| &nbsp;&nbsp;&nbsp;Q2 Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324 | &nbsp;&nbsp;&nbsp;&nbsp; 26309 |
| &nbsp;&nbsp;&nbsp;Sea, Ltd. ADR† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508 | &nbsp;&nbsp;&nbsp;&nbsp; 79578 |
| &nbsp;&nbsp;&nbsp;Spotify Technology SA† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71 | &nbsp;&nbsp;&nbsp;&nbsp; 44484 |
| &nbsp;&nbsp;&nbsp;Stitch Fix, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4377 | &nbsp;&nbsp;&nbsp;&nbsp; 20703 |
| &nbsp;&nbsp;&nbsp;Tencent Holdings, Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp;&nbsp;&nbsp; 44845 |
| &nbsp;&nbsp;&nbsp;Uber Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2672 | &nbsp;&nbsp;&nbsp;&nbsp; 234468 |
| &nbsp;&nbsp;&nbsp;Upwork, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1363 | &nbsp;&nbsp;&nbsp;&nbsp; 16301 |
| &nbsp;&nbsp;&nbsp;Wix.com, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp;&nbsp; 29927 |
| &nbsp;&nbsp;&nbsp;Yelp, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;741 | &nbsp;&nbsp;&nbsp;&nbsp; 25513 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7873829 |
| **Investment Companies — 0.1%** | **Investment Companies — 0.1%** | **Investment Companies — 0.1%** |
| &nbsp;&nbsp;&nbsp;EXOR NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617 | &nbsp;&nbsp;&nbsp;&nbsp; 59674 |
| &nbsp;&nbsp;&nbsp;Itausa SA (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;17190 | &nbsp;&nbsp;&nbsp;&nbsp; 31774 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91448 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin Tactical Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Iron/Steel — 0.1%** | **Iron/Steel — 0.1%** | **Iron/Steel — 0.1%** |
| &nbsp;&nbsp;&nbsp;BlueScope Steel, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2125 | &nbsp;&nbsp;$32461 |
| &nbsp;&nbsp;&nbsp;Commercial Metals Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502 | &nbsp;&nbsp;&nbsp;&nbsp; 26034 |
| &nbsp;&nbsp;&nbsp;Evraz PLC†(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3725 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;Fortescue, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3476 | &nbsp;&nbsp;&nbsp;&nbsp; 39696 |
| &nbsp;&nbsp;&nbsp;Nucor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179 | &nbsp;&nbsp;&nbsp;&nbsp; 25609 |
| &nbsp;&nbsp;&nbsp;Reliance, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;&nbsp;&nbsp; 10735 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131 | &nbsp;&nbsp;&nbsp;&nbsp; 16710 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151245 |
| **Leisure Time — 0.0%** | **Leisure Time — 0.0%** | **Leisure Time — 0.0%** |
| &nbsp;&nbsp;&nbsp;TravelSky Technology, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;20284 | &nbsp;&nbsp;&nbsp;&nbsp; 32454 |
| **Lodging — 0.1%** | **Lodging — 0.1%** | **Lodging — 0.1%** |
| &nbsp;&nbsp;&nbsp;InterContinental Hotels Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;&nbsp; 48612 |
| &nbsp;&nbsp;&nbsp;MGM Resorts International† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211 | &nbsp;&nbsp;&nbsp;&nbsp; 7691 |
| &nbsp;&nbsp;&nbsp;Wynn Resorts, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp; 8831 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65134 |
| **Machinery-Construction & Mining — 0.7%** | **Machinery-Construction & Mining — 0.7%** | **Machinery-Construction & Mining — 0.7%** |
| &nbsp;&nbsp;&nbsp;Argan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223 | &nbsp;&nbsp;&nbsp;&nbsp; 54631 |
| &nbsp;&nbsp;&nbsp;Bloom Energy Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1929 | &nbsp;&nbsp;&nbsp;&nbsp; 72125 |
| &nbsp;&nbsp;&nbsp;Caterpillar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp;&nbsp;&nbsp; 201489 |
| &nbsp;&nbsp;&nbsp;Hitachi, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6290 | &nbsp;&nbsp;&nbsp;&nbsp; 195916 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Heavy Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp; 108322 |
| &nbsp;&nbsp;&nbsp;Oshkosh Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp; 6327 |
| &nbsp;&nbsp;&nbsp;Siemens Energy AG† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp;&nbsp;&nbsp; 65185 |
| &nbsp;&nbsp;&nbsp;Terex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488 | &nbsp;&nbsp;&nbsp;&nbsp; 24820 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728815 |
| **Machinery-Diversified — 0.3%** | **Machinery-Diversified — 0.3%** | **Machinery-Diversified — 0.3%** |
| &nbsp;&nbsp;&nbsp;AGCO Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp; 6842 |
| &nbsp;&nbsp;&nbsp;Atlas Copco AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2064 | &nbsp;&nbsp;&nbsp;&nbsp; 31500 |
| &nbsp;&nbsp;&nbsp;CNH Industrial NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4900 | &nbsp;&nbsp;&nbsp;&nbsp; 63504 |
| &nbsp;&nbsp;&nbsp;Dover Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp;&nbsp;&nbsp; 12318 |
| &nbsp;&nbsp;&nbsp;GEA Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1321 | &nbsp;&nbsp;&nbsp;&nbsp; 95125 |
| &nbsp;&nbsp;&nbsp;Middleby Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp; 6098 |
| &nbsp;&nbsp;&nbsp;Power Solutions International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176 | &nbsp;&nbsp;&nbsp;&nbsp; 16500 |
| &nbsp;&nbsp;&nbsp;Regal Rexnord Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp; 7338 |
| &nbsp;&nbsp;&nbsp;Thermon Group Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537 | &nbsp;&nbsp;&nbsp;&nbsp; 15186 |
| &nbsp;&nbsp;&nbsp;THK Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp; 16982 |
| &nbsp;&nbsp;&nbsp;Wartsila OYJ Abp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2153 | &nbsp;&nbsp;&nbsp;&nbsp; 59558 |
| &nbsp;&nbsp;&nbsp;Watts Water Technologies, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98 | &nbsp;&nbsp;&nbsp;&nbsp; 25707 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356658 |
| **Media — 0.6%** | **Media — 0.6%** | **Media — 0.6%** |
| &nbsp;&nbsp;&nbsp;Charter Communications, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93 | &nbsp;&nbsp;&nbsp;&nbsp; 25050 |
| &nbsp;&nbsp;&nbsp;Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2292 | &nbsp;&nbsp;&nbsp;&nbsp; 76163 |
| &nbsp;&nbsp;&nbsp;Fox Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1415 | &nbsp;&nbsp;&nbsp;&nbsp; 78900 |
| &nbsp;&nbsp;&nbsp;Gannett Co., Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3792 | &nbsp;&nbsp;&nbsp;&nbsp; 14448 |
| &nbsp;&nbsp;&nbsp;News Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293 | &nbsp;&nbsp;&nbsp;&nbsp; 8591 |
| &nbsp;&nbsp;&nbsp;Walt Disney Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3887 | &nbsp;&nbsp;&nbsp;&nbsp; 462981 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;666133 |
| **Metal Fabricate/Hardware — 0.0%** | **Metal Fabricate/Hardware — 0.0%** | **Metal Fabricate/Hardware — 0.0%** |
| &nbsp;&nbsp;&nbsp;Mayville Engineering Co., Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851 | &nbsp;&nbsp;&nbsp;&nbsp; 14271 |
| &nbsp;&nbsp;&nbsp;Mueller Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp;&nbsp;&nbsp; 7341 |
| &nbsp;&nbsp;&nbsp;Olympic Steel, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;&nbsp;&nbsp; 9174 |
| &nbsp;&nbsp;&nbsp;Ryerson Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346 | &nbsp;&nbsp;&nbsp;&nbsp; 7128 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37914 |
| **Mining — 0.5%** | **Mining — 0.5%** | **Mining — 0.5%** |
| &nbsp;&nbsp;&nbsp;Angl0d American PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1729 | &nbsp;&nbsp;&nbsp;&nbsp; 49048 |
| &nbsp;&nbsp;&nbsp;BHP Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2769 | &nbsp;&nbsp;&nbsp;&nbsp; 69845 |
| &nbsp;&nbsp;&nbsp;Century Aluminum Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593 | &nbsp;&nbsp;&nbsp;&nbsp; 12560 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mining (continued)** | **Mining (continued)** | **Mining (continued)** |
| &nbsp;&nbsp;&nbsp;Dundee Precious Metals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6440 | &nbsp;&nbsp;$104111 |
| &nbsp;&nbsp;&nbsp;Kaiser Aluminum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211 | &nbsp;&nbsp;&nbsp;&nbsp; 16312 |
| &nbsp;&nbsp;&nbsp;Kinross Gold Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp; 57601 |
| &nbsp;&nbsp;&nbsp;Newmont Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805 | &nbsp;&nbsp;&nbsp;&nbsp; 49991 |
| &nbsp;&nbsp;&nbsp;OceanaGold Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2733 | &nbsp;&nbsp;&nbsp;&nbsp; 37180 |
| &nbsp;&nbsp;&nbsp;Rio Tinto PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909 | &nbsp;&nbsp;&nbsp;&nbsp; 54063 |
| &nbsp;&nbsp;&nbsp;Rio Tinto, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;766 | &nbsp;&nbsp;&nbsp;&nbsp; 54987 |
| &nbsp;&nbsp;&nbsp;SSR Mining, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp; 33460 |
| &nbsp;&nbsp;&nbsp;Teck Resources, Ltd., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627 | &nbsp;&nbsp;&nbsp;&nbsp; 20331 |
| &nbsp;&nbsp;&nbsp;Valterra Platinum, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213 | &nbsp;&nbsp;&nbsp;&nbsp; 9508 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568997 |
| **Miscellaneous Manufacturing — 0.4%** | **Miscellaneous Manufacturing — 0.4%** | **Miscellaneous Manufacturing — 0.4%** |
| &nbsp;&nbsp;&nbsp;3M Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812 | &nbsp;&nbsp;&nbsp;&nbsp; 121167 |
| &nbsp;&nbsp;&nbsp;A.O. Smith Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89 | &nbsp;&nbsp;&nbsp;&nbsp; 6300 |
| &nbsp;&nbsp;&nbsp;Alstom SA† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1901 | &nbsp;&nbsp;&nbsp;&nbsp; 44777 |
| &nbsp;&nbsp;&nbsp;Core Molding Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437 | &nbsp;&nbsp;&nbsp;&nbsp; 7272 |
| &nbsp;&nbsp;&nbsp;Donaldson Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91 | &nbsp;&nbsp;&nbsp;&nbsp; 6549 |
| &nbsp;&nbsp;&nbsp;Fabrinet† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113 | &nbsp;&nbsp;&nbsp;&nbsp; 36581 |
| &nbsp;&nbsp;&nbsp;Knorr-Bremse AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432 | &nbsp;&nbsp;&nbsp;&nbsp; 43310 |
| &nbsp;&nbsp;&nbsp;Siemens AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605 | &nbsp;&nbsp;&nbsp;&nbsp; 155277 |
| &nbsp;&nbsp;&nbsp;Textron, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp; 10888 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432121 |
| **Multi-National — 0.0%** | **Multi-National — 0.0%** | **Multi-National — 0.0%** |
| &nbsp;&nbsp;&nbsp;Banco Latinoamericano de Comercio Exterior SA, Class E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;693 | &nbsp;&nbsp;&nbsp;&nbsp; 27692 |
| **Office Furnishings — 0.0%** | **Office Furnishings — 0.0%** | **Office Furnishings — 0.0%** |
| &nbsp;&nbsp;&nbsp;Interface, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1026 | &nbsp;&nbsp;&nbsp;&nbsp; 21156 |
| &nbsp;&nbsp;&nbsp;Steelcase, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1397 | &nbsp;&nbsp;&nbsp;&nbsp; 14431 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35587 |
| **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp;Ricoh Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp; 31762 |
| &nbsp;&nbsp;&nbsp;Xerox Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1333 | &nbsp;&nbsp;&nbsp;&nbsp; 5399 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37161 |
| **Oil & Gas — 1.4%** | **Oil & Gas — 1.4%** | **Oil & Gas — 1.4%** |
| &nbsp;&nbsp;&nbsp;California Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556 | &nbsp;&nbsp;&nbsp;&nbsp; 26788 |
| &nbsp;&nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909 | &nbsp;&nbsp;&nbsp;&nbsp; 137841 |
| &nbsp;&nbsp;&nbsp;ENEOS Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7700 | &nbsp;&nbsp;&nbsp;&nbsp; 40522 |
| &nbsp;&nbsp;&nbsp;EOG Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424 | &nbsp;&nbsp;&nbsp;&nbsp; 50888 |
| &nbsp;&nbsp;&nbsp;EQT Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1884 | &nbsp;&nbsp;&nbsp;&nbsp; 101265 |
| &nbsp;&nbsp;&nbsp;Equinor ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2285 | &nbsp;&nbsp;&nbsp;&nbsp; 59165 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2825 | &nbsp;&nbsp;&nbsp;&nbsp; 315383 |
| &nbsp;&nbsp;&nbsp;Gulfport Energy Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136 | &nbsp;&nbsp;&nbsp;&nbsp; 23682 |
| &nbsp;&nbsp;&nbsp;HF Sinclair Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146 | &nbsp;&nbsp;&nbsp;&nbsp; 6415 |
| &nbsp;&nbsp;&nbsp;Idemitsu Kosan Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5600 | &nbsp;&nbsp;&nbsp;&nbsp; 35977 |
| &nbsp;&nbsp;&nbsp;Inpex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp; 34178 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;&nbsp;&nbsp; 64672 |
| &nbsp;&nbsp;&nbsp;MEG Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp; 25623 |
| &nbsp;&nbsp;&nbsp;Murphy Oil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953 | &nbsp;&nbsp;&nbsp;&nbsp; 23644 |
| &nbsp;&nbsp;&nbsp;Noble Corp. PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp; 241 |
| &nbsp;&nbsp;&nbsp;Ovintiv, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 8236 |
| &nbsp;&nbsp;&nbsp;PetroChina Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp; 58624 |
| &nbsp;&nbsp;&nbsp;Phillips 66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714 | &nbsp;&nbsp;&nbsp;&nbsp; 88236 |
| &nbsp;&nbsp;&nbsp;Range Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp;&nbsp; 6793 |
| &nbsp;&nbsp;&nbsp;Riley Exploration Permian, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373 | &nbsp;&nbsp;&nbsp;&nbsp; 9788 |
| &nbsp;&nbsp;&nbsp;Shell PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3749 | &nbsp;&nbsp;&nbsp;&nbsp; 134225 |
| &nbsp;&nbsp;&nbsp;Talos Energy, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3922 | &nbsp;&nbsp;&nbsp;&nbsp; 33533 |
| &nbsp;&nbsp;&nbsp;TotalEnergies SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3142 | &nbsp;&nbsp;&nbsp;&nbsp; 186525 |
| &nbsp;&nbsp;&nbsp;VAALCO Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1941 | &nbsp;&nbsp;&nbsp;&nbsp; 7221 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp;&nbsp;&nbsp; 33092 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1512557 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin Tactical Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Oil & Gas Services — 0.1%** | **Oil & Gas Services — 0.1%** | **Oil & Gas Services — 0.1%** |
| &nbsp;&nbsp;&nbsp;Baker Hughes Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716 | &nbsp;&nbsp;$32256 |
| &nbsp;&nbsp;&nbsp;DNOW, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2545 | &nbsp;&nbsp;&nbsp;&nbsp; 39600 |
| &nbsp;&nbsp;&nbsp;RPC, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3935 | &nbsp;&nbsp;&nbsp;&nbsp; 18298 |
| &nbsp;&nbsp;&nbsp;Schlumberger NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp;&nbsp; 14534 |
| &nbsp;&nbsp;&nbsp;TechnipFMC PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281 | &nbsp;&nbsp;&nbsp;&nbsp; 10220 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114908 |
| **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** |
| &nbsp;&nbsp;&nbsp;Ball Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp; 12311 |
| &nbsp;&nbsp;&nbsp;Crown Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;844 | &nbsp;&nbsp;&nbsp;&nbsp; 83860 |
| &nbsp;&nbsp;&nbsp;Gerresheimer AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391 | &nbsp;&nbsp;&nbsp;&nbsp; 19356 |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp; 12594 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128121 |
| **Pharmaceuticals — 3.4%** | **Pharmaceuticals — 3.4%** | **Pharmaceuticals — 3.4%** |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2382 | &nbsp;&nbsp;&nbsp;&nbsp; 450246 |
| &nbsp;&nbsp;&nbsp;Aduro Biotech Holding, Inc. CVR†(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp;&nbsp;&nbsp; 110 |
| &nbsp;&nbsp;&nbsp;Akebia Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2026 | &nbsp;&nbsp;&nbsp;&nbsp; 7466 |
| &nbsp;&nbsp;&nbsp;Alkermes PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648 | &nbsp;&nbsp;&nbsp;&nbsp; 17166 |
| &nbsp;&nbsp;&nbsp;Amneal Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1166 | &nbsp;&nbsp;&nbsp;&nbsp; 9118 |
| &nbsp;&nbsp;&nbsp;AstraZeneca PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869 | &nbsp;&nbsp;&nbsp;&nbsp; 129959 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002 | &nbsp;&nbsp;&nbsp;&nbsp; 43397 |
| &nbsp;&nbsp;&nbsp;Cardinal Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;772 | &nbsp;&nbsp;&nbsp;&nbsp; 119830 |
| &nbsp;&nbsp;&nbsp;Catalyst Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;799 | &nbsp;&nbsp;&nbsp;&nbsp; 17043 |
| &nbsp;&nbsp;&nbsp;Cencora, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459 | &nbsp;&nbsp;&nbsp;&nbsp; 131311 |
| &nbsp;&nbsp;&nbsp;China Feihe, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;44100 | &nbsp;&nbsp;&nbsp;&nbsp; 26235 |
| &nbsp;&nbsp;&nbsp;Chugai Pharmaceutical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp; 63448 |
| &nbsp;&nbsp;&nbsp;Collegium Pharmaceutical, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262 | &nbsp;&nbsp;&nbsp;&nbsp; 7823 |
| &nbsp;&nbsp;&nbsp;Contra Blueprint Medic†(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181 | &nbsp;&nbsp;&nbsp;&nbsp; 83 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824 | &nbsp;&nbsp;&nbsp;&nbsp; 51170 |
| &nbsp;&nbsp;&nbsp;Daiichi Sankyo Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp; 49337 |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453 | &nbsp;&nbsp;&nbsp;&nbsp; 335252 |
| &nbsp;&nbsp;&nbsp;Fennec Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543 | &nbsp;&nbsp;&nbsp;&nbsp; 4442 |
| &nbsp;&nbsp;&nbsp;GSK PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8152 | &nbsp;&nbsp;&nbsp;&nbsp; 152661 |
| &nbsp;&nbsp;&nbsp;Gyre Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188 | &nbsp;&nbsp;&nbsp;&nbsp; 1325 |
| &nbsp;&nbsp;&nbsp;Harmony Biosciences Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885 | &nbsp;&nbsp;&nbsp;&nbsp; 31134 |
| &nbsp;&nbsp;&nbsp;Harrow, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309 | &nbsp;&nbsp;&nbsp;&nbsp; 9814 |
| &nbsp;&nbsp;&nbsp;Henry Schein, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp; 6427 |
| &nbsp;&nbsp;&nbsp;Hikma Pharmaceuticals PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2068 | &nbsp;&nbsp;&nbsp;&nbsp; 53639 |
| &nbsp;&nbsp;&nbsp;Ipsen SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218 | &nbsp;&nbsp;&nbsp;&nbsp; 25799 |
| &nbsp;&nbsp;&nbsp;Ironwood Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1067 | &nbsp;&nbsp;&nbsp;&nbsp; 815 |
| &nbsp;&nbsp;&nbsp;Jazz Pharmaceuticals PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp; 4585 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3834 | &nbsp;&nbsp;&nbsp;&nbsp; 631613 |
| &nbsp;&nbsp;&nbsp;MannKind Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1505 | &nbsp;&nbsp;&nbsp;&nbsp; 5689 |
| &nbsp;&nbsp;&nbsp;Mirum Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146 | &nbsp;&nbsp;&nbsp;&nbsp; 7545 |
| &nbsp;&nbsp;&nbsp;Novartis AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2428 | &nbsp;&nbsp;&nbsp;&nbsp; 281555 |
| &nbsp;&nbsp;&nbsp;Novo Nordisk A/S ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1612 | &nbsp;&nbsp;&nbsp;&nbsp; 75877 |
| &nbsp;&nbsp;&nbsp;Novo Nordisk A/S, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2737 | &nbsp;&nbsp;&nbsp;&nbsp; 131604 |
| &nbsp;&nbsp;&nbsp;Otsuka Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 48428 |
| &nbsp;&nbsp;&nbsp;Protagonist Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp;&nbsp; 19928 |
| &nbsp;&nbsp;&nbsp;Rhythm Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246 | &nbsp;&nbsp;&nbsp;&nbsp; 20967 |
| &nbsp;&nbsp;&nbsp;Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807 | &nbsp;&nbsp;&nbsp;&nbsp; 255438 |
| &nbsp;&nbsp;&nbsp;Sanofi SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1806 | &nbsp;&nbsp;&nbsp;&nbsp; 162490 |
| &nbsp;&nbsp;&nbsp;Shionogi & Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7100 | &nbsp;&nbsp;&nbsp;&nbsp; 119871 |
| &nbsp;&nbsp;&nbsp;SIGA Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2044 | &nbsp;&nbsp;&nbsp;&nbsp; 13511 |
| &nbsp;&nbsp;&nbsp;Spectrum Pharmaceuticals, Inc.†(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2839 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;Supernus Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208 | &nbsp;&nbsp;&nbsp;&nbsp; 7301 |
| &nbsp;&nbsp;&nbsp;UCB SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp;&nbsp;&nbsp; 23908 |
| &nbsp;&nbsp;&nbsp;USANA Health Sciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214 | &nbsp;&nbsp;&nbsp;&nbsp; 6289 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3561649 |
| **Pipelines — 0.2%** | **Pipelines — 0.2%** | **Pipelines — 0.2%** |
| &nbsp;&nbsp;&nbsp;Antero Midstream Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372 | &nbsp;&nbsp;&nbsp;&nbsp; 6826 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| &nbsp;&nbsp;&nbsp;Excelerate Energy, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731 | &nbsp;&nbsp;$18758 |
| &nbsp;&nbsp;&nbsp;Golar LNG, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376 | &nbsp;&nbsp;&nbsp;&nbsp; 15476 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7546 | &nbsp;&nbsp;&nbsp;&nbsp; 211741 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252801 |
| **Private Equity — 0.2%** | **Private Equity — 0.2%** | **Private Equity — 0.2%** |
| &nbsp;&nbsp;&nbsp;3i Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2483 | &nbsp;&nbsp;&nbsp;&nbsp; 136118 |
| &nbsp;&nbsp;&nbsp;Carlyle Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236 | &nbsp;&nbsp;&nbsp;&nbsp; 14316 |
| &nbsp;&nbsp;&nbsp;Onex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381 | &nbsp;&nbsp;&nbsp;&nbsp; 30995 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181429 |
| **Real Estate — 0.2%** | **Real Estate — 0.2%** | **Real Estate — 0.2%** |
| &nbsp;&nbsp;&nbsp;CK Asset Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp; 9185 |
| &nbsp;&nbsp;&nbsp;Daito Trust Construction Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;907 | &nbsp;&nbsp;&nbsp;&nbsp; 93346 |
| &nbsp;&nbsp;&nbsp;Jones Lang LaSalle, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 | &nbsp;&nbsp;&nbsp;&nbsp; 9192 |
| &nbsp;&nbsp;&nbsp;Kennedy-Wilson Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1363 | &nbsp;&nbsp;&nbsp;&nbsp; 9977 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Estate Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp; 30090 |
| &nbsp;&nbsp;&nbsp;Newmark Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1148 | &nbsp;&nbsp;&nbsp;&nbsp; 17415 |
| &nbsp;&nbsp;&nbsp;RMR Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543 | &nbsp;&nbsp;&nbsp;&nbsp; 8721 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177926 |
| **REITS — 0.7%** | **REITS — 0.7%** | **REITS — 0.7%** |
| &nbsp;&nbsp;&nbsp;Alexander & Baldwin, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1172 | &nbsp;&nbsp;&nbsp;&nbsp; 21073 |
| &nbsp;&nbsp;&nbsp;American Assets Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654 | &nbsp;&nbsp;&nbsp;&nbsp; 12446 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891 | &nbsp;&nbsp;&nbsp;&nbsp; 185675 |
| &nbsp;&nbsp;&nbsp;Curbline Properties Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584 | &nbsp;&nbsp;&nbsp;&nbsp; 12906 |
| &nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp; 196292 |
| &nbsp;&nbsp;&nbsp;Farmland Partners, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2583 | &nbsp;&nbsp;&nbsp;&nbsp; 27044 |
| &nbsp;&nbsp;&nbsp;Innovative Industrial Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173 | &nbsp;&nbsp;&nbsp;&nbsp; 8944 |
| &nbsp;&nbsp;&nbsp;JBG SMITH Properties | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1242 | &nbsp;&nbsp;&nbsp;&nbsp; 26306 |
| &nbsp;&nbsp;&nbsp;Klepierre SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;932 | &nbsp;&nbsp;&nbsp;&nbsp; 35694 |
| &nbsp;&nbsp;&nbsp;Ladder Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1271 | &nbsp;&nbsp;&nbsp;&nbsp; 13879 |
| &nbsp;&nbsp;&nbsp;National Health Investors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317 | &nbsp;&nbsp;&nbsp;&nbsp; 22146 |
| &nbsp;&nbsp;&nbsp;NexPoint Residential Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377 | &nbsp;&nbsp;&nbsp;&nbsp; 11755 |
| &nbsp;&nbsp;&nbsp;Pebblebrook Hotel Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847 | &nbsp;&nbsp;&nbsp;&nbsp; 8495 |
| &nbsp;&nbsp;&nbsp;Piedmont Office Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1053 | &nbsp;&nbsp;&nbsp;&nbsp; 7961 |
| &nbsp;&nbsp;&nbsp;Public Storage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp;&nbsp; 55748 |
| &nbsp;&nbsp;&nbsp;Sabra Health Care REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1629 | &nbsp;&nbsp;&nbsp;&nbsp; 29371 |
| &nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196 | &nbsp;&nbsp;&nbsp;&nbsp; 32103 |
| &nbsp;&nbsp;&nbsp;SITE Centers Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1573 | &nbsp;&nbsp;&nbsp;&nbsp; 16941 |
| &nbsp;&nbsp;&nbsp;SL Green Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157 | &nbsp;&nbsp;&nbsp;&nbsp; 8988 |
| &nbsp;&nbsp;&nbsp;Summit Hotel Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2715 | &nbsp;&nbsp;&nbsp;&nbsp; 14172 |
| &nbsp;&nbsp;&nbsp;Tanger, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681 | &nbsp;&nbsp;&nbsp;&nbsp; 20444 |
| &nbsp;&nbsp;&nbsp;TPG RE Finance Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1636 | &nbsp;&nbsp;&nbsp;&nbsp; 14233 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782616 |
| **Retail — 2.5%** | **Retail — 2.5%** | **Retail — 2.5%** |
| &nbsp;&nbsp;&nbsp;Abercrombie & Fitch Co., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp;&nbsp; 23525 |
| &nbsp;&nbsp;&nbsp;American Eagle Outfitters, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1166 | &nbsp;&nbsp;&nbsp;&nbsp; 12593 |
| &nbsp;&nbsp;&nbsp;Arcos Dorados Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2363 | &nbsp;&nbsp;&nbsp;&nbsp; 15714 |
| &nbsp;&nbsp;&nbsp;Associated British Foods PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp;&nbsp;&nbsp; 26851 |
| &nbsp;&nbsp;&nbsp;AutoNation, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp;&nbsp;&nbsp; 9054 |
| &nbsp;&nbsp;&nbsp;Best Buy Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521 | &nbsp;&nbsp;&nbsp;&nbsp; 33896 |
| &nbsp;&nbsp;&nbsp;BJ's Wholesale Club Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969 | &nbsp;&nbsp;&nbsp;&nbsp; 102617 |
| &nbsp;&nbsp;&nbsp;BlueLinx Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273 | &nbsp;&nbsp;&nbsp;&nbsp; 20003 |
| &nbsp;&nbsp;&nbsp;Brinker International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331 | &nbsp;&nbsp;&nbsp;&nbsp; 52166 |
| &nbsp;&nbsp;&nbsp;CarMax, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp;&nbsp;&nbsp; 6227 |
| &nbsp;&nbsp;&nbsp;Cie Financiere Richemont SA, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421 | &nbsp;&nbsp;&nbsp;&nbsp; 69143 |
| &nbsp;&nbsp;&nbsp;Cracker Barrel Old Country Store, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71 | &nbsp;&nbsp;&nbsp;&nbsp; 4402 |
| &nbsp;&nbsp;&nbsp;Dick's Sporting Goods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;&nbsp; 8037 |
| &nbsp;&nbsp;&nbsp;Dollar Tree, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;&nbsp;&nbsp; 16010 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79 | &nbsp;&nbsp;&nbsp;&nbsp; 36593 |
| &nbsp;&nbsp;&nbsp;Gap, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp; 5254 |
| &nbsp;&nbsp;&nbsp;Genesco, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227 | &nbsp;&nbsp;&nbsp;&nbsp; 5462 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin Tactical Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| &nbsp;&nbsp;&nbsp;Genuine Parts Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;$13919 |
| &nbsp;&nbsp;&nbsp;Group 1 Automotive, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp; 32972 |
| &nbsp;&nbsp;&nbsp;Home Depot, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257 | &nbsp;&nbsp;&nbsp;&nbsp; 94450 |
| &nbsp;&nbsp;&nbsp;Industria de Diseno Textil SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1893 | &nbsp;&nbsp;&nbsp;&nbsp; 90538 |
| &nbsp;&nbsp;&nbsp;Lithia Motors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp; 5472 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466 | &nbsp;&nbsp;&nbsp;&nbsp; 104184 |
| &nbsp;&nbsp;&nbsp;McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282 | &nbsp;&nbsp;&nbsp;&nbsp; 84620 |
| &nbsp;&nbsp;&nbsp;Murphy USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp; 4712 |
| &nbsp;&nbsp;&nbsp;Next PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456 | &nbsp;&nbsp;&nbsp;&nbsp; 74133 |
| &nbsp;&nbsp;&nbsp;Nu Skin Enterprises, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2220 | &nbsp;&nbsp;&nbsp;&nbsp; 18604 |
| &nbsp;&nbsp;&nbsp;ODP Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1728 | &nbsp;&nbsp;&nbsp;&nbsp; 30827 |
| &nbsp;&nbsp;&nbsp;Pandora A/S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396 | &nbsp;&nbsp;&nbsp;&nbsp; 65720 |
| &nbsp;&nbsp;&nbsp;Patrick Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp;&nbsp;&nbsp; 30631 |
| &nbsp;&nbsp;&nbsp;Penske Automotive Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51 | &nbsp;&nbsp;&nbsp;&nbsp; 8538 |
| &nbsp;&nbsp;&nbsp;President Chain Store Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp; 25731 |
| &nbsp;&nbsp;&nbsp;Signet Jewelers, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286 | &nbsp;&nbsp;&nbsp;&nbsp; 22623 |
| &nbsp;&nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2635 | &nbsp;&nbsp;&nbsp;&nbsp; 234936 |
| &nbsp;&nbsp;&nbsp;TJX Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3644 | &nbsp;&nbsp;&nbsp;&nbsp; 453787 |
| &nbsp;&nbsp;&nbsp;Tokyo Gas Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4100 | &nbsp;&nbsp;&nbsp;&nbsp; 137274 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 | &nbsp;&nbsp;&nbsp;&nbsp; 16480 |
| &nbsp;&nbsp;&nbsp;Urban Outfitters, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp;&nbsp;&nbsp; 42157 |
| &nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6111 | &nbsp;&nbsp;&nbsp;&nbsp; 598756 |
| &nbsp;&nbsp;&nbsp;Williams-Sonoma, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89 | &nbsp;&nbsp;&nbsp;&nbsp; 16647 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2655258 |
| **Savings & Loans — 0.1%** | **Savings & Loans — 0.1%** | **Savings & Loans — 0.1%** |
| &nbsp;&nbsp;&nbsp;Axos Financial, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp; 42743 |
| &nbsp;&nbsp;&nbsp;HomeTrust Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362 | &nbsp;&nbsp;&nbsp;&nbsp; 14068 |
| &nbsp;&nbsp;&nbsp;Northfield Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882 | &nbsp;&nbsp;&nbsp;&nbsp; 9393 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66204 |
| **Semiconductors — 5.9%** | **Semiconductors — 5.9%** | **Semiconductors — 5.9%** |
| &nbsp;&nbsp;&nbsp;Advantest Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp; 82361 |
| &nbsp;&nbsp;&nbsp;ASML Holding NV (NASDAQ) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;666 | &nbsp;&nbsp;&nbsp;&nbsp; 462677 |
| &nbsp;&nbsp;&nbsp;ASML Holding NV (XAMS) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302 | &nbsp;&nbsp;&nbsp;&nbsp; 211300 |
| &nbsp;&nbsp;&nbsp;Axcelis Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp; 14215 |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3444 | &nbsp;&nbsp;&nbsp;&nbsp; 1011503 |
| &nbsp;&nbsp;&nbsp;Infineon Technologies AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895 | &nbsp;&nbsp;&nbsp;&nbsp; 35375 |
| &nbsp;&nbsp;&nbsp;Marvell Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1580 | &nbsp;&nbsp;&nbsp;&nbsp; 126985 |
| &nbsp;&nbsp;&nbsp;Novatek Microelectronics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp; 47743 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17851 | &nbsp;&nbsp;&nbsp;&nbsp; 3175157 |
| &nbsp;&nbsp;&nbsp;Photronics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1276 | &nbsp;&nbsp;&nbsp;&nbsp; 25979 |
| &nbsp;&nbsp;&nbsp;QUALCOMM, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1314 | &nbsp;&nbsp;&nbsp;&nbsp; 192843 |
| &nbsp;&nbsp;&nbsp;Rambus, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;387 | &nbsp;&nbsp;&nbsp;&nbsp; 28611 |
| &nbsp;&nbsp;&nbsp;Samsung Electronics Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1513 | &nbsp;&nbsp;&nbsp;&nbsp; 77897 |
| &nbsp;&nbsp;&nbsp;SK Hynix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194 | &nbsp;&nbsp;&nbsp;&nbsp; 38260 |
| &nbsp;&nbsp;&nbsp;SkyWater Technology, Inc.(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2098 | &nbsp;&nbsp;&nbsp;&nbsp; 18777 |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co., Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963 | &nbsp;&nbsp;&nbsp;&nbsp; 232680 |
| &nbsp;&nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1504 | &nbsp;&nbsp;&nbsp;&nbsp; 272314 |
| &nbsp;&nbsp;&nbsp;Tokyo Electron, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp; 108740 |
| &nbsp;&nbsp;&nbsp;United Microelectronics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp; 12529 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6175946 |
| **Shipbuilding — 0.1%** | **Shipbuilding — 0.1%** | **Shipbuilding — 0.1%** |
| &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp;&nbsp;&nbsp; 7808 |
| &nbsp;&nbsp;&nbsp;Yangzijiang Shipbuilding Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;23700 | &nbsp;&nbsp;&nbsp;&nbsp; 46728 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54536 |
| **Software — 5.8%** | **Software — 5.8%** | **Software — 5.8%** |
| &nbsp;&nbsp;&nbsp;8x8, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2435 | &nbsp;&nbsp;&nbsp;&nbsp; 4724 |
| &nbsp;&nbsp;&nbsp;ACI Worldwide, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp; 15322 |
| &nbsp;&nbsp;&nbsp;Adeia, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1167 | &nbsp;&nbsp;&nbsp;&nbsp; 15113 |
| &nbsp;&nbsp;&nbsp;Asana, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121 | &nbsp;&nbsp;&nbsp;&nbsp; 1776 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp;Box, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689 | &nbsp;&nbsp;$22117 |
| &nbsp;&nbsp;&nbsp;Commvault Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317 | &nbsp;&nbsp;&nbsp;&nbsp; 60214 |
| &nbsp;&nbsp;&nbsp;Cover Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 7105 |
| &nbsp;&nbsp;&nbsp;DigitalOcean Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493 | &nbsp;&nbsp;&nbsp;&nbsp; 13735 |
| &nbsp;&nbsp;&nbsp;Dropbox, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159 | &nbsp;&nbsp;&nbsp;&nbsp; 4320 |
| &nbsp;&nbsp;&nbsp;Electronic Arts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;447 | &nbsp;&nbsp;&nbsp;&nbsp; 68163 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384 | &nbsp;&nbsp;&nbsp;&nbsp; 30493 |
| &nbsp;&nbsp;&nbsp;IBEX Holdings, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp;&nbsp;&nbsp; 28831 |
| &nbsp;&nbsp;&nbsp;Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448 | &nbsp;&nbsp;&nbsp;&nbsp; 351738 |
| &nbsp;&nbsp;&nbsp;Konami Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp; 81644 |
| &nbsp;&nbsp;&nbsp;LiveRamp Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512 | &nbsp;&nbsp;&nbsp;&nbsp; 16804 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6404 | &nbsp;&nbsp;&nbsp;&nbsp; 3416534 |
| &nbsp;&nbsp;&nbsp;Nice, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196 | &nbsp;&nbsp;&nbsp;&nbsp; 30761 |
| &nbsp;&nbsp;&nbsp;Olo, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2329 | &nbsp;&nbsp;&nbsp;&nbsp; 24408 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;914 | &nbsp;&nbsp;&nbsp;&nbsp; 231946 |
| &nbsp;&nbsp;&nbsp;Pro Medicus, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193 | &nbsp;&nbsp;&nbsp;&nbsp; 39924 |
| &nbsp;&nbsp;&nbsp;Progress Software Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358 | &nbsp;&nbsp;&nbsp;&nbsp; 17213 |
| &nbsp;&nbsp;&nbsp;Sage Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6009 | &nbsp;&nbsp;&nbsp;&nbsp; 96816 |
| &nbsp;&nbsp;&nbsp;Salesforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828 | &nbsp;&nbsp;&nbsp;&nbsp; 213897 |
| &nbsp;&nbsp;&nbsp;SAP SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013 | &nbsp;&nbsp;&nbsp;&nbsp; 289934 |
| &nbsp;&nbsp;&nbsp;ServiceNow, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp;&nbsp;&nbsp; 103743 |
| &nbsp;&nbsp;&nbsp;Synopsys, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985 | &nbsp;&nbsp;&nbsp;&nbsp; 623968 |
| &nbsp;&nbsp;&nbsp;Vimeo, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3459 | &nbsp;&nbsp;&nbsp;&nbsp; 13110 |
| &nbsp;&nbsp;&nbsp;Weave Communications, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1457 | &nbsp;&nbsp;&nbsp;&nbsp; 10636 |
| &nbsp;&nbsp;&nbsp;Workday, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1041 | &nbsp;&nbsp;&nbsp;&nbsp; 238785 |
| &nbsp;&nbsp;&nbsp;Yext, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1906 | &nbsp;&nbsp;&nbsp;&nbsp; 15477 |
| &nbsp;&nbsp;&nbsp;Zeta Global Holdings Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1734 | &nbsp;&nbsp;&nbsp;&nbsp; 27137 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6116388 |
| **Telecommunications — 1.8%** | **Telecommunications — 1.8%** | **Telecommunications — 1.8%** |
| &nbsp;&nbsp;&nbsp;A10 Networks, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1657 | &nbsp;&nbsp;&nbsp;&nbsp; 30522 |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8918 | &nbsp;&nbsp;&nbsp;&nbsp; 244442 |
| &nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3941 | &nbsp;&nbsp;&nbsp;&nbsp; 268303 |
| &nbsp;&nbsp;&nbsp;Credo Technology Group Holding, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511 | &nbsp;&nbsp;&nbsp;&nbsp; 57002 |
| &nbsp;&nbsp;&nbsp;Deutsche Telekom AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3384 | &nbsp;&nbsp;&nbsp;&nbsp; 121570 |
| &nbsp;&nbsp;&nbsp;Extreme Networks, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1413 | &nbsp;&nbsp;&nbsp;&nbsp; 24954 |
| &nbsp;&nbsp;&nbsp;HKT Trust & HKT, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp; 78726 |
| &nbsp;&nbsp;&nbsp;InterDigital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184 | &nbsp;&nbsp;&nbsp;&nbsp; 47509 |
| &nbsp;&nbsp;&nbsp;Koninklijke KPN NV | &nbsp;&nbsp;&nbsp;&nbsp;26099 | &nbsp;&nbsp;&nbsp;&nbsp; 116754 |
| &nbsp;&nbsp;&nbsp;LG Uplus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8240 | &nbsp;&nbsp;&nbsp;&nbsp; 86928 |
| &nbsp;&nbsp;&nbsp;Lumen Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4136 | &nbsp;&nbsp;&nbsp;&nbsp; 18405 |
| &nbsp;&nbsp;&nbsp;NETGEAR, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1183 | &nbsp;&nbsp;&nbsp;&nbsp; 27505 |
| &nbsp;&nbsp;&nbsp;Orange SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5005 | &nbsp;&nbsp;&nbsp;&nbsp; 76223 |
| &nbsp;&nbsp;&nbsp;SK Telecom Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1526 | &nbsp;&nbsp;&nbsp;&nbsp; 61731 |
| &nbsp;&nbsp;&nbsp;Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp;&nbsp;&nbsp;10148 | &nbsp;&nbsp;&nbsp;&nbsp; 73954 |
| &nbsp;&nbsp;&nbsp;Telefonica SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9092 | &nbsp;&nbsp;&nbsp;&nbsp; 46940 |
| &nbsp;&nbsp;&nbsp;Telenor ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5072 | &nbsp;&nbsp;&nbsp;&nbsp; 77856 |
| &nbsp;&nbsp;&nbsp;T-Mobile US, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;759 | &nbsp;&nbsp;&nbsp;&nbsp; 180953 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5230 | &nbsp;&nbsp;&nbsp;&nbsp; 223635 |
| &nbsp;&nbsp;&nbsp;Vodafone Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;16725 | &nbsp;&nbsp;&nbsp;&nbsp; 18116 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1882028 |
| **Toys/Games/Hobbies — 0.2%** | **Toys/Games/Hobbies — 0.2%** | **Toys/Games/Hobbies — 0.2%** |
| &nbsp;&nbsp;&nbsp;Bandai Namco Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp; 61838 |
| &nbsp;&nbsp;&nbsp;Hasbro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp;&nbsp;&nbsp; 6464 |
| &nbsp;&nbsp;&nbsp;JAKKS Pacific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;741 | &nbsp;&nbsp;&nbsp;&nbsp; 13123 |
| &nbsp;&nbsp;&nbsp;Nintendo Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 92566 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173991 |
| **Transportation — 0.9%** | **Transportation — 0.9%** | **Transportation — 0.9%** |
| &nbsp;&nbsp;&nbsp;AP Moller-Maersk A/S, Series B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp;&nbsp;&nbsp; 61590 |
| &nbsp;&nbsp;&nbsp;C.H. Robinson Worldwide, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529 | &nbsp;&nbsp;&nbsp;&nbsp; 61004 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Kansas City, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1266 | &nbsp;&nbsp;&nbsp;&nbsp; 93114 |
| &nbsp;&nbsp;&nbsp;Costamare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3175 | &nbsp;&nbsp;&nbsp;&nbsp; 32036 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin Tactical Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Transportation (continued)** | **Transportation (continued)** | **Transportation (continued)** |
| &nbsp;&nbsp;&nbsp;CSX Corp. | &nbsp;&nbsp; 1358 | &nbsp;&nbsp;$48263 |
| &nbsp;&nbsp;&nbsp;DHT Holdings, Inc. | &nbsp;&nbsp; 1694 | &nbsp;&nbsp;&nbsp;&nbsp; 18787 |
| &nbsp;&nbsp;&nbsp;Expeditors International of Washington, Inc. | &nbsp;&nbsp; 106 | &nbsp;&nbsp;&nbsp;&nbsp; 12322 |
| &nbsp;&nbsp;&nbsp;Matson, Inc. | &nbsp;&nbsp; 227 | &nbsp;&nbsp;&nbsp;&nbsp; 24239 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | &nbsp;&nbsp; 151 | &nbsp;&nbsp;&nbsp;&nbsp; 41978 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line, Inc. | &nbsp;&nbsp; 1270 | &nbsp;&nbsp;&nbsp;&nbsp; 189548 |
| &nbsp;&nbsp;&nbsp;Scorpio Tankers, Inc. | &nbsp;&nbsp; 254 | &nbsp;&nbsp;&nbsp;&nbsp; 11483 |
| &nbsp;&nbsp;&nbsp;Teekay Corp., Ltd. | &nbsp;&nbsp; 1604 | &nbsp;&nbsp;&nbsp;&nbsp; 11549 |
| &nbsp;&nbsp;&nbsp;Teekay Tankers, Ltd., Class A | &nbsp;&nbsp; 477 | &nbsp;&nbsp;&nbsp;&nbsp; 20201 |
| &nbsp;&nbsp;&nbsp;Union Pacific Corp. | &nbsp;&nbsp; 1456 | &nbsp;&nbsp;&nbsp;&nbsp; 323188 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949302 |
| **Water — 0.0%** | **Water — 0.0%** | **Water — 0.0%** |
| &nbsp;&nbsp;&nbsp;Consolidated Water Co., Ltd. | &nbsp;&nbsp; 1126 | &nbsp;&nbsp;&nbsp;&nbsp; 32756 |
| &nbsp;&nbsp;&nbsp;United Utilities Group PLC | &nbsp;&nbsp; 1010 | &nbsp;&nbsp;&nbsp;&nbsp; 15039 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47795 |
| **Total Common Stocks<br> (cost $48,408,105)** |  | &nbsp;&nbsp;&nbsp;&nbsp;67557856 |
| **CORPORATE BONDS & NOTES — 8.9%** | **CORPORATE BONDS & NOTES — 8.9%** | **CORPORATE BONDS & NOTES — 8.9%** |
| **Aerospace/Defense — 0.3%** | **Aerospace/Defense — 0.3%** | **Aerospace/Defense — 0.3%** |
| &nbsp;&nbsp;&nbsp;Boeing Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 02/01/2027 | $65000 | &nbsp;&nbsp;&nbsp;&nbsp; 63144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 03/01/2039 | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 15681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 05/01/2049 | &nbsp;&nbsp; 17000 | &nbsp;&nbsp;&nbsp;&nbsp; 12322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 02/15/2033 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 63386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.86%, 05/01/2054 | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 32975 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 01/15/2029 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 71511 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 02/15/2064 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 9097 |
| &nbsp;&nbsp;&nbsp;RTX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 03/15/2031 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10698 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278814 |
| **Agriculture — 0.1%** | **Agriculture — 0.1%** | **Agriculture — 0.1%** |
| &nbsp;&nbsp;&nbsp;Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 02/13/2029 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 02/15/2030 | &nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 87035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 02/13/2034 | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 20249 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117418 |
| **Airlines — 0.0%** | **Airlines — 0.0%** | **Airlines — 0.0%** |
| &nbsp;&nbsp;&nbsp;AS Mileage Plan IP, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.02%, 10/20/2029\* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 29745 |
| **Apparel — 0.1%** | **Apparel — 0.1%** | **Apparel — 0.1%** |
| &nbsp;&nbsp;&nbsp;PVH Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 06/13/2030 | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 30219 |
| &nbsp;&nbsp;&nbsp;Tapestry, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.05%, 03/15/2032 | &nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 49012 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79231 |
| **Auto Manufacturers — 0.1%** | **Auto Manufacturers — 0.1%** | **Auto Manufacturers — 0.1%** |
| &nbsp;&nbsp;&nbsp;Ford Motor Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10%, 08/19/2032 | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 20033 |
| &nbsp;&nbsp;&nbsp;Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 11/01/2027\* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 55143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 03/19/2029\* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 55998 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131174 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Banks — 1.2%** | **Banks — 1.2%** | **Banks — 1.2%** |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 03/08/2037 | $72000 | &nbsp;&nbsp;$65995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.20%, 11/10/2028 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 62269 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 10/21/2026 | &nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 251090 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.58%, 07/23/2036 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10130 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.32%, 07/19/2035 | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 91133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.47%, 01/18/2035 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 133168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 01/19/2038 | &nbsp;&nbsp; 8000 | &nbsp;&nbsp;&nbsp;&nbsp; 8253 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.37%, 07/21/2036 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10104 |
| &nbsp;&nbsp;&nbsp;US Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38%, 07/22/2030 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 280407 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/23/2026 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 245769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.56%, 07/25/2034 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 113511 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1271829 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 02/01/2036 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 116359 |
| **Biotechnology — 0.4%** | **Biotechnology — 0.4%** | **Biotechnology — 0.4%** |
| &nbsp;&nbsp;&nbsp;Gilead Sciences, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 03/01/2027 | &nbsp;&nbsp; 395000 | &nbsp;&nbsp;&nbsp;&nbsp; 387021 |
| &nbsp;&nbsp;&nbsp;Royalty Pharma PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 09/02/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50919 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437940 |
| **Computers — 0.1%** | **Computers — 0.1%** | **Computers — 0.1%** |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 10/15/2029 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 69590 |
| **Diversified Financial Services — 0.7%** | **Diversified Financial Services — 0.7%** | **Diversified Financial Services — 0.7%** |
| &nbsp;&nbsp;&nbsp;American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.42%, 08/03/2033 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 243698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.73%, 04/25/2029 | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 40350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.02%, 04/25/2031 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 61068 |
| &nbsp;&nbsp;&nbsp;Avolon Holdings Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 11/15/2029\* | &nbsp;&nbsp; 38000 | &nbsp;&nbsp;&nbsp;&nbsp; 39118 |
| &nbsp;&nbsp;&nbsp;Macquarie Airfinance Holdings, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.40%, 03/26/2029\* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 67574 |
| &nbsp;&nbsp;&nbsp;Mastercard, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 03/26/2027 | &nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp; 241660 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;693468 |
| **Electric — 0.2%** | **Electric — 0.2%** | **Electric — 0.2%** |
| &nbsp;&nbsp;&nbsp;Florida Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 03/15/2055 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10093 |
| &nbsp;&nbsp;&nbsp;Georgia Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 03/15/2035 | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 20217 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 03/15/2032 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 71847 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 04/01/2035\* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10197 |
| &nbsp;&nbsp;&nbsp;Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 01/30/2027\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98607 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210961 |
| **Environmental Control — 0.0%** | **Environmental Control — 0.0%** | **Environmental Control — 0.0%** |
| &nbsp;&nbsp;&nbsp;Waste Connections, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 03/01/2034 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10060 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin Tactical Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Food — 0.2%** | **Food — 0.2%** | **Food — 0.2%** |
| &nbsp;&nbsp;&nbsp;JBS USA Holding LUX SARL/JBS USA Food Co./JBS LUX Co. SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 02/02/2029 | $95000 | &nbsp;&nbsp;$89974 |
| &nbsp;&nbsp;&nbsp;Kroger Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 09/15/2034 | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 19784 |
| &nbsp;&nbsp;&nbsp;Mars, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 03/01/2035\* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 85407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 05/01/2055\* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49337 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244502 |
| **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** |
| &nbsp;&nbsp;&nbsp;Georgia-Pacific LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 06/30/2032\* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 40274 |
| **Healthcare-Services — 0.4%** | **Healthcare-Services — 0.4%** | **Healthcare-Services — 0.4%** |
| &nbsp;&nbsp;&nbsp;Humana, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 03/23/2029 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp; 261358 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 08/15/2049 | &nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp;&nbsp; 189848 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451206 |
| **Insurance — 0.4%** | **Insurance — 0.4%** | **Insurance — 0.4%** |
| &nbsp;&nbsp;&nbsp;Aon North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 03/01/2034 | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 30687 |
| &nbsp;&nbsp;&nbsp;Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.03%, 07/17/2030\* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 90493 |
| &nbsp;&nbsp;&nbsp;Brown & Brown, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 06/23/2030 | &nbsp;&nbsp; 32000 | &nbsp;&nbsp;&nbsp;&nbsp; 32128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 06/23/2032 | &nbsp;&nbsp; 12000 | &nbsp;&nbsp;&nbsp;&nbsp; 12138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 06/23/2035 | &nbsp;&nbsp; 16000 | &nbsp;&nbsp;&nbsp;&nbsp; 16174 |
| &nbsp;&nbsp;&nbsp;Prudential Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 05/15/2044 | &nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 228983 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410603 |
| **Internet — 0.1%** | **Internet — 0.1%** | **Internet — 0.1%** |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 08/15/2034 | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 29884 |
| &nbsp;&nbsp;&nbsp;Netflix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 11/15/2029\* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 36335 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66219 |
| **Leisure Time — 0.1%** | **Leisure Time — 0.1%** | **Leisure Time — 0.1%** |
| &nbsp;&nbsp;&nbsp;Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 08/01/2028\* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 92269 |
| **Lodging — 0.0%** | **Lodging — 0.0%** | **Lodging — 0.0%** |
| &nbsp;&nbsp;&nbsp;Las Vegas Sands Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 08/15/2029 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10279 |
| **Media — 0.5%** | **Media — 0.5%** | **Media — 0.5%** |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC/Charter Communications Operating Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.55%, 06/01/2034 | &nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 274154 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.89%, 11/01/2051 | &nbsp;&nbsp; 370000 | &nbsp;&nbsp;&nbsp;&nbsp; 222294 |
| &nbsp;&nbsp;&nbsp;Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 06/01/2029 | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 38920 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535368 |
| **Mining — 0.1%** | **Mining — 0.1%** | **Mining — 0.1%** |
| &nbsp;&nbsp;&nbsp;Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.67%, 04/01/2035\* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 30509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.14%, 04/01/2055\* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10130 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40639 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Oil & Gas — 0.2%** | **Oil & Gas — 0.2%** | **Oil & Gas — 0.2%** |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.57%, 03/06/2045 | $290000 | &nbsp;&nbsp;$220801 |
| &nbsp;&nbsp;&nbsp;Viper Energy Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 08/01/2030 | &nbsp;&nbsp; 6000 | &nbsp;&nbsp;&nbsp;&nbsp; 5975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 08/01/2035 | &nbsp;&nbsp; 16000 | &nbsp;&nbsp;&nbsp;&nbsp; 15902 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242678 |
| **Pharmaceuticals — 0.6%** | **Pharmaceuticals — 0.6%** | **Pharmaceuticals — 0.6%** |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 03/15/2029 | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 20317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 03/15/2031 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 03/15/2034 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10126 |
| &nbsp;&nbsp;&nbsp;Becton Dickinson & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 06/06/2027 | &nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 227165 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 02/22/2031 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 02/22/2034 | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 20428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 02/22/2054 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 9673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 02/22/2064 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 9659 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.78%, 03/25/2038 | &nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 233015 |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 08/14/2034 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 9856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 02/09/2034 | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 19921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 02/09/2064 | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 27546 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608200 |
| **Pipelines — 0.4%** | **Pipelines — 0.4%** | **Pipelines — 0.4%** |
| &nbsp;&nbsp;&nbsp;Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 10/01/2029 | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 44511 |
| &nbsp;&nbsp;&nbsp;Columbia Pipelines Operating Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.04%, 11/15/2033\* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 31535 |
| &nbsp;&nbsp;&nbsp;Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 06/20/2030 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10088 |
| &nbsp;&nbsp;&nbsp;Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 07/01/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51131 |
| &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 02/16/2055 | &nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 76567 |
| &nbsp;&nbsp;&nbsp;MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 08/15/2030 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 67967 |
| &nbsp;&nbsp;&nbsp;ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 11/01/2026 | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 20210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 11/01/2028 | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 20632 |
| &nbsp;&nbsp;&nbsp;Williams Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 03/15/2031 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 107226 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429867 |
| **REITS — 0.1%** | **REITS — 0.1%** | **REITS — 0.1%** |
| &nbsp;&nbsp;&nbsp;Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 09/01/2027 | &nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 34355 |
| &nbsp;&nbsp;&nbsp;VICI Properties LP/VICI Note Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 01/15/2028\* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 59390 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93745 |
| **Retail — 0.5%** | **Retail — 0.5%** | **Retail — 0.5%** |
| &nbsp;&nbsp;&nbsp;7-Eleven, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.80%, 02/10/2031\* | &nbsp;&nbsp; 8000 | &nbsp;&nbsp;&nbsp;&nbsp; 6802 |
| &nbsp;&nbsp;&nbsp;Dick's Sporting Goods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 01/15/2032 | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 40401 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 04/01/2032 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp; 253578 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin Tactical Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| &nbsp;&nbsp;&nbsp;TJX Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 09/15/2026 | $270000 | &nbsp;&nbsp;$264191 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564972 |
| **Semiconductors — 0.6%** | **Semiconductors — 0.6%** | **Semiconductors — 0.6%** |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 11/15/2030 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 68553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 07/12/2029 | &nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 66342 |
| &nbsp;&nbsp;&nbsp;Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 03/25/2030 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 115480 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 09/16/2026 | &nbsp;&nbsp; 385000 | &nbsp;&nbsp;&nbsp;&nbsp; 380582 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630957 |
| **Software — 0.1%** | **Software — 0.1%** | **Software — 0.1%** |
| &nbsp;&nbsp;&nbsp;MSCI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 09/01/2030\* | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 28139 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 04/01/2050 | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 13733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 09/27/2054 | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 27021 |
| &nbsp;&nbsp;&nbsp;Synopsys, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 04/01/2030 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 04/01/2032 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 04/01/2035 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 04/01/2055 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 9861 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109006 |
| **Telecommunications — 0.9%** | **Telecommunications — 0.9%** | **Telecommunications — 0.9%** |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 09/01/2040 | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 231958 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 11/15/2030 | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 39975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 08/15/2030 | &nbsp;&nbsp; 8000 | &nbsp;&nbsp;&nbsp;&nbsp; 8054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 08/15/2032 | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 30403 |
| &nbsp;&nbsp;&nbsp;Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/15/2029 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 70895 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 02/15/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 281835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 04/15/2030 | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 29077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 04/15/2034 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10061 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.36%, 03/15/2032 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 103166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 11/20/2050 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 77471 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882895 |
| **Transportation — 0.4%** | **Transportation — 0.4%** | **Transportation — 0.4%** |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 02/15/2050 | &nbsp;&nbsp; 295000 | &nbsp;&nbsp;&nbsp;&nbsp; 213858 |
| &nbsp;&nbsp;&nbsp;CSX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 03/01/2028 | &nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp; 241976 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455834 |
| **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** |
| &nbsp;&nbsp;&nbsp;Avolon Holdings Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 10/10/2030\* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 34870 |
| **Total Corporate Bonds & Notes<br> (cost $9,880,923)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9390972 |
| **ASSET BACKED SECURITIES — 1.0%** | **ASSET BACKED SECURITIES — 1.0%** | **ASSET BACKED SECURITIES — 1.0%** |
| **Auto Loan Receivables — 0.8%** | **Auto Loan Receivables — 0.8%** | **Auto Loan Receivables — 0.8%** |
| &nbsp;&nbsp;&nbsp;Capital One Prime Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1, Class A3<br> 4.87%, 02/15/2028 | &nbsp;&nbsp; 120440 | &nbsp;&nbsp;&nbsp;&nbsp; 120655 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Auto Loan Receivables (continued)** | **Auto Loan Receivables (continued)** | **Auto Loan Receivables (continued)** |
| &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-2, Class A<br> 5.28%, 02/15/2036\* | $238000 | &nbsp;&nbsp;$243947 |
| &nbsp;&nbsp;&nbsp;GM Financial Revolving Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class A<br> 4.98%, 12/11/2036\* | &nbsp;&nbsp; 74000 | &nbsp;&nbsp;&nbsp;&nbsp; 75439 |
| &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-B, Class A3<br> 4.36%, 12/17/2029 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp; 180431 |
| &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1, Class A4<br> 4.31%, 04/16/2029 | &nbsp;&nbsp; 87000 | &nbsp;&nbsp;&nbsp;&nbsp; 86884 |
| &nbsp;&nbsp;&nbsp;USB Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1A, Class A3<br> 4.49%, 06/17/2030\* | &nbsp;&nbsp; 71000 | &nbsp;&nbsp;&nbsp;&nbsp; 70992 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;778348 |
| **Home Equity — 0.2%** | **Home Equity — 0.2%** | **Home Equity — 0.2%** |
| &nbsp;&nbsp;&nbsp;JP Morgan Mtg. Trust Series VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES2, Class A1<br> 5.59%, 06/25/2055\*(3) | &nbsp;&nbsp; 113578 | &nbsp;&nbsp;&nbsp;&nbsp; 113761 |
| &nbsp;&nbsp;&nbsp;Towd Point Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CES4, Class A1<br> 5.12%, 09/25/2064\*(4) | &nbsp;&nbsp; 106191 | &nbsp;&nbsp;&nbsp;&nbsp; 105565 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219326 |
| **Total Asset Backed Securities<br> (cost $996,012)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997674 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 3.4%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 3.4%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 3.4%** |
| **Commercial and Residential — 2.3%** | **Commercial and Residential — 2.3%** | **Commercial and Residential — 2.3%** |
| &nbsp;&nbsp;&nbsp;Banc of America Commercial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-UBS7, Class B<br> 4.28%, 09/15/2048(3) | &nbsp;&nbsp; 73000 | &nbsp;&nbsp;&nbsp;&nbsp; 70310 |
| &nbsp;&nbsp;&nbsp;BANK5 VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-5YR15, Class XA<br> 1.44%, 07/15/2058(3)(5) | &nbsp;&nbsp; 143000 | &nbsp;&nbsp;&nbsp;&nbsp; 7427 |
| &nbsp;&nbsp;&nbsp;Benchmark Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-V15, Class XA<br> 1.12%, 06/15/2058(3)(5) | &nbsp;&nbsp; 659942 | &nbsp;&nbsp;&nbsp;&nbsp; 31401 |
| &nbsp;&nbsp;&nbsp;BRAVO Residential Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-NQM5, Class A1<br> 5.80%, 06/25/2064\*(4) | &nbsp;&nbsp; 145400 | &nbsp;&nbsp;&nbsp;&nbsp; 145596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-NQM3, Class A1<br> 6.19%, 03/25/2064\*(4) | &nbsp;&nbsp; 143290 | &nbsp;&nbsp;&nbsp;&nbsp; 144270 |
| &nbsp;&nbsp;&nbsp;CD Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-CD4, Class B<br> 3.95%, 05/10/2050(3) | &nbsp;&nbsp; 32000 | &nbsp;&nbsp;&nbsp;&nbsp; 29982 |
| &nbsp;&nbsp;&nbsp;Chase Home Lending Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-11, Class A11<br> 5.60%, (SOFR30A+1.25%), 11/25/2055\* | &nbsp;&nbsp; 104993 | &nbsp;&nbsp;&nbsp;&nbsp; 104801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-7, Class A11<br> 5.75%, (SOFR30A+1.40%), 05/25/2056\* | &nbsp;&nbsp; 24663 | &nbsp;&nbsp;&nbsp;&nbsp; 24660 |
| &nbsp;&nbsp;&nbsp;COLT Mtg. Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-INV1, Class A1<br> 5.90%, 12/25/2068\*(4) | &nbsp;&nbsp; 150492 | &nbsp;&nbsp;&nbsp;&nbsp; 150697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2, Class A1<br> 6.13%, 04/25/2069\*(4) | &nbsp;&nbsp; 76062 | &nbsp;&nbsp;&nbsp;&nbsp; 76460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-3, Class A1<br> 6.39%, 06/25/2069\*(4) | &nbsp;&nbsp; 138902 | &nbsp;&nbsp;&nbsp;&nbsp; 140168 |
| &nbsp;&nbsp;&nbsp;COMM Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-LC19, Class C<br> 4.10%, 02/10/2048(3) | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 19298 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin Tactical Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** |
| **Commercial and Residential (continued)** | **Commercial and Residential (continued)** | **Commercial and Residential (continued)** |
| &nbsp;&nbsp;&nbsp;Connecticut Avenue Securities Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-R04, Class 1A1<br> 5.35%, (SOFR30A+1.00%), 05/25/2045\* | $20787 | &nbsp;&nbsp;$20787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-R04, Class 1M1<br> 5.55%, (SOFR30A+1.20%), 05/25/2045\* | &nbsp;&nbsp; 54509 | &nbsp;&nbsp;&nbsp;&nbsp; 54636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-R02, Class 1M1<br> 6.65%, (SOFR30A+2.30%), 01/25/2043\* | &nbsp;&nbsp; 16133 | &nbsp;&nbsp;&nbsp;&nbsp; 16500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-R01, Class 1M1<br> 6.75%, (SOFR30A+2.40%), 12/25/2042\* | &nbsp;&nbsp; 11559 | &nbsp;&nbsp;&nbsp;&nbsp; 11812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C06, Class 1M2B<br> 7.11%, (SOFR30A+2.76%), 02/25/2030 | &nbsp;&nbsp; 9125 | &nbsp;&nbsp;&nbsp;&nbsp; 9136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C07, Class 2M2<br> 8.81%, (SOFR30A+4.46%), 05/25/2029 | &nbsp;&nbsp; 95236 | &nbsp;&nbsp;&nbsp;&nbsp; 98145 |
| &nbsp;&nbsp;&nbsp;CSAIL Commercial Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-C3, Class A4<br> 3.72%, 08/15/2048 | &nbsp;&nbsp; 21607 | &nbsp;&nbsp;&nbsp;&nbsp; 21533 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. Structured Agency Credit Risk Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-DNA3, Class B1<br> 7.71%, (SOFR30A+3.36%), 07/25/2049\* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 84102 |
| &nbsp;&nbsp;&nbsp;JP Morgan Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2, Class A11<br> 5.60%, (SOFR30A+1.25%), 07/25/2055\* | &nbsp;&nbsp; 200860 | &nbsp;&nbsp;&nbsp;&nbsp; 200498 |
| &nbsp;&nbsp;&nbsp;JPMorgan Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1, Class A11<br> 5.60%, (SOFR30A+1.25%), 06/25/2055\* | &nbsp;&nbsp; 86510 | &nbsp;&nbsp;&nbsp;&nbsp; 86352 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-C10, Class B<br> 3.98%, 07/15/2046(3) | &nbsp;&nbsp; 31667 | &nbsp;&nbsp;&nbsp;&nbsp; 29731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-C26, Class B<br> 4.09%, 10/15/2048(3) | &nbsp;&nbsp; 44000 | &nbsp;&nbsp;&nbsp;&nbsp; 43348 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Residential Mtg. Loan Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-3, Class AF<br> 5.70%, (SOFR30A+1.35%), 07/25/2054\* | &nbsp;&nbsp; 123407 | &nbsp;&nbsp;&nbsp;&nbsp; 123208 |
| &nbsp;&nbsp;&nbsp;NYC Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-3ELV, Class A<br> 6.33%, (TSFR1M+1.99%), 08/15/2029\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100332 |
| &nbsp;&nbsp;&nbsp;OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-NQM9, Class A1<br> 6.03%, 01/25/2064\*(4) | &nbsp;&nbsp; 138871 | &nbsp;&nbsp;&nbsp;&nbsp; 139749 |
| &nbsp;&nbsp;&nbsp;Onity Loan Investment Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-HB1, Class A<br> 3.00%, 06/25/2038\*(3) | &nbsp;&nbsp; 80457 | &nbsp;&nbsp;&nbsp;&nbsp; 77887 |
| &nbsp;&nbsp;&nbsp;Station Place Securitization Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1, Class A<br> 1.00%, (TSFR1M+0.90%), 07/23/2026\* | &nbsp;&nbsp; 99000 | &nbsp;&nbsp;&nbsp;&nbsp; 98948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-3, Class A<br> 5.25%, (TSFR1M+0.90%), 09/23/2026\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100000 |
| &nbsp;&nbsp;&nbsp;SWCH Commercial Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-DATA, Class A<br> 5.78%, (TSFR1M+1.44%), 02/15/2042\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99500 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-C50, Class B<br> 4.19%, 05/15/2052 | &nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 32481 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-5C4, Class XA<br> 1.12%, 05/15/2058(3)(5) | &nbsp;&nbsp;1571559 | &nbsp;&nbsp;&nbsp;&nbsp; 73641 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2467396 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. Government Agency — 1.1%** | **U.S. Government Agency — 1.1%** | **U.S. Government Agency — 1.1%** |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. REMIC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 5510, Class FK<br> 5.45%, (SOFR30A+1.10%), 02/25/2055 | $133906 | &nbsp;&nbsp;$133868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 5517, Class FH<br> 5.50%, (SOFR30A+1.15%), 03/25/2055 | &nbsp;&nbsp; 116168 | &nbsp;&nbsp;&nbsp;&nbsp; 115777 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. Structured Agency Credit Risk REMIC Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-DNA2, Class M1<br> 5.55%, (SOFR30A+1.20%), 05/25/2045\* | &nbsp;&nbsp; 161229 | &nbsp;&nbsp;&nbsp;&nbsp; 161430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-DNA2, Class A1<br> 5.60%, (SOFR30A+1.25%), 05/25/2044\* | &nbsp;&nbsp; 143939 | &nbsp;&nbsp;&nbsp;&nbsp; 144522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-HQA2, Class A1<br> 5.60%, (SOFR30A+1.25%), 08/25/2044\* | &nbsp;&nbsp; 144425 | &nbsp;&nbsp;&nbsp;&nbsp; 145058 |
| &nbsp;&nbsp;&nbsp;Federal National Mtg. Assoc. REMIC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-39, Class DF<br> 5.45%, (SOFR30A+1.10%), 06/25/2054 | &nbsp;&nbsp; 128936 | &nbsp;&nbsp;&nbsp;&nbsp; 128941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-55, Class FG<br> 5.45%, (SOFR30A+1.10%), 07/25/2055 | &nbsp;&nbsp; 139999 | &nbsp;&nbsp;&nbsp;&nbsp; 139872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-22, Class FG<br> 5.55%, (SOFR30A+1.20%), 05/25/2054 | &nbsp;&nbsp; 141809 | &nbsp;&nbsp;&nbsp;&nbsp; 142243 |
| &nbsp;&nbsp;&nbsp;Government National Mtg. Assoc. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-H13, Class FT<br> 4.59%, (H15T1Y+0.45%), 08/20/2069 | &nbsp;&nbsp; 12554 | &nbsp;&nbsp;&nbsp;&nbsp; 12556 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1124267 |
| **Total Collateralized Mortgage Obligations<br> (cost $3,589,132)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3591663 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 17.8%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 17.8%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 17.8%** |
| **U.S. Government — 9.6%** | **U.S. Government — 9.6%** | **U.S. Government — 9.6%** |
| &nbsp;&nbsp;&nbsp;United States Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/15/2052 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 86191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 02/15/2055 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 478984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 11/15/2053 to 05/15/2055 | &nbsp;&nbsp;1420000 | &nbsp;&nbsp;&nbsp;&nbsp; 1388440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 05/15/2045 | &nbsp;&nbsp; 520000 | &nbsp;&nbsp;&nbsp;&nbsp; 527637 |
| &nbsp;&nbsp;&nbsp;United States Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.63%, 05/15/2031 | &nbsp;&nbsp;5590000 | &nbsp;&nbsp;&nbsp;&nbsp; 4899329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 04/30/2027 to 06/30/2027 | &nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 458220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 06/30/2030 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 109605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 05/31/2030 | &nbsp;&nbsp; 580000 | &nbsp;&nbsp;&nbsp;&nbsp; 581405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 02/29/2032 | &nbsp;&nbsp;1150000 | &nbsp;&nbsp;&nbsp;&nbsp; 1150854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 10/15/2025 | &nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 209967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 03/15/2026 to 02/15/2035 | &nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 81362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 11/30/2025 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 120169 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10092163 |
| **U.S. Government Agency — 8.2%** | **U.S. Government Agency — 8.2%** | **U.S. Government Agency — 8.2%** |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 08/01/2037 | &nbsp;&nbsp; 54584 | &nbsp;&nbsp;&nbsp;&nbsp; 50680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 05/01/2055 | &nbsp;&nbsp; 925855 | &nbsp;&nbsp;&nbsp;&nbsp; 938792 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 09/01/2040 to 03/01/2041 | &nbsp;&nbsp; 118220 | &nbsp;&nbsp;&nbsp;&nbsp; 100938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/01/2037 | &nbsp;&nbsp; 27804 | &nbsp;&nbsp;&nbsp;&nbsp; 26326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 07/01/2053 | &nbsp;&nbsp; 87693 | &nbsp;&nbsp;&nbsp;&nbsp; 84555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 04/01/2053 | &nbsp;&nbsp; 82951 | &nbsp;&nbsp;&nbsp;&nbsp; 81617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 05/01/2055 | &nbsp;&nbsp;1134516 | &nbsp;&nbsp;&nbsp;&nbsp; 1128820 |
| &nbsp;&nbsp;&nbsp;Federal National Mtg. Assoc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 08/01/2037 | &nbsp;&nbsp; 55076 | &nbsp;&nbsp;&nbsp;&nbsp; 48648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 09/01/2050 | &nbsp;&nbsp;1025795 | &nbsp;&nbsp;&nbsp;&nbsp; 802945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 06/01/2052 | &nbsp;&nbsp; 238688 | &nbsp;&nbsp;&nbsp;&nbsp; 204390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 08/01/2052 | &nbsp;&nbsp; 342623 | &nbsp;&nbsp;&nbsp;&nbsp; 306514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 05/01/2055 | &nbsp;&nbsp; 213702 | &nbsp;&nbsp;&nbsp;&nbsp; 202768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 02/01/2055 | &nbsp;&nbsp; 130579 | &nbsp;&nbsp;&nbsp;&nbsp; 134669 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin Tactical Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** |
| **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** |
| &nbsp;&nbsp;&nbsp;Federal National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 11/01/2041 | $75314 | &nbsp;&nbsp;$61204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 04/01/2037 to 08/01/2042 | &nbsp;&nbsp; 330014 | &nbsp;&nbsp;&nbsp;&nbsp; 282095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 03/01/2042 to 06/01/2051 | &nbsp;&nbsp; 361290 | &nbsp;&nbsp;&nbsp;&nbsp; 305062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 05/01/2042 to 06/01/2052 | &nbsp;&nbsp; 288255 | &nbsp;&nbsp;&nbsp;&nbsp; 251901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 01/01/2053 | &nbsp;&nbsp; 50708 | &nbsp;&nbsp;&nbsp;&nbsp; 50590 |
| &nbsp;&nbsp;&nbsp;Government National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, August 30 TBA | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 242126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, August 30 TBA | &nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp; 260644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, August 30 TBA | &nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 148516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, August 30 TBA | &nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 188664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, August 30 TBA | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 101285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, August 30 TBA | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 123355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, August 30 TBA | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 243961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, August 30 TBA | &nbsp;&nbsp; 280000 | &nbsp;&nbsp;&nbsp;&nbsp; 279244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, August 30 TBA | &nbsp;&nbsp; 580000 | &nbsp;&nbsp;&nbsp;&nbsp; 587771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, August 30 TBA | &nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 82112 |
| &nbsp;&nbsp;&nbsp;Uniform Mtg. Backed Securities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, August 30 TBA | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 101671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, August 30 TBA | &nbsp;&nbsp; 720000 | &nbsp;&nbsp;&nbsp;&nbsp; 589843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, August 30 TBA | &nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 212107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, August 30 TBA | &nbsp;&nbsp; 380000 | &nbsp;&nbsp;&nbsp;&nbsp; 369815 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8593628 |
| **Total U.S. Government & Agency Obligations<br> (cost $18,786,420)** |  | &nbsp;&nbsp;&nbsp;&nbsp;18685791 |
| **UNAFFILIATED INVESTMENT COMPANIES — 5.3%** | **UNAFFILIATED INVESTMENT COMPANIES — 5.3%** | **UNAFFILIATED INVESTMENT COMPANIES — 5.3%** |
| &nbsp;&nbsp;&nbsp;Invesco S&P 500 Low Volatility ETF | &nbsp;&nbsp; 5419 | &nbsp;&nbsp;&nbsp;&nbsp; 392878 |
| &nbsp;&nbsp;&nbsp;iShares Core High Dividend ETF | &nbsp;&nbsp; 3347 | &nbsp;&nbsp;&nbsp;&nbsp; 395883 |
| &nbsp;&nbsp;&nbsp;iShares Core S&P 500 ETF | &nbsp;&nbsp; 6505 | &nbsp;&nbsp;&nbsp;&nbsp; 4130025 |
| &nbsp;&nbsp;&nbsp;iShares Russell 1000 Value ETF | &nbsp;&nbsp; 424 | &nbsp;&nbsp;&nbsp;&nbsp; 82858 |
| &nbsp;&nbsp;&nbsp;Vanguard Growth ETF | &nbsp;&nbsp; 1235 | &nbsp;&nbsp;&nbsp;&nbsp; 562147 |
| **Total Unaffiliated Investment Companies<br> (cost $5,003,991)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5563791 |
| **Total Long-Term Investment Securities<br> (cost $86,664,583)** |  | &nbsp;&nbsp;&nbsp;&nbsp;105787747 |
| **SHORT-TERM INVESTMENTS — 3.3%** | **SHORT-TERM INVESTMENTS — 3.3%** | **SHORT-TERM INVESTMENTS — 3.3%** |
| **Commercial Paper — 0.2%** | **Commercial Paper — 0.2%** | **Commercial Paper — 0.2%** |
| &nbsp;&nbsp;&nbsp;Kinder Morgan. Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 08/01/2025 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 249967 |
| **Pipelines — 0.2%** | **Pipelines — 0.2%** | **Pipelines — 0.2%** |
| &nbsp;&nbsp;&nbsp;Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.51%, 08/01/2025 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 249966 |
| **Real Estate — 0.3%** | **Real Estate — 0.3%** | **Real Estate — 0.3%** |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.62%, 08/01/2025 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 249968 |
| **Software — 0.2%** | **Software — 0.2%** | **Software — 0.2%** |
| &nbsp;&nbsp;&nbsp;Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.57%, 08/18/2025 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 249431 |
| **U.S. Government Agency — 0.7%** | **U.S. Government Agency — 0.7%** | **U.S. Government Agency — 0.7%** |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Bank Disc. Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.18%, 08/01/2025 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 149982 |
| &nbsp;&nbsp;&nbsp;Federal National Mtg. Assoc. Disc. Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.23%, 08/01/2025 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 149982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.24%, 08/04/2025 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 399812 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;699776 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Unaffiliated Investment Companies — 1.7%** | **Unaffiliated Investment Companies — 1.7%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(6) | 1764513 | &nbsp;&nbsp;$1764513 |
| **Total Short-Term Investments<br> (cost $3,463,832)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3463621 |
| **TOTAL INVESTMENTS<br> (cost $90,128,415)(7)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103.9% | &nbsp;&nbsp;&nbsp;&nbsp;109251368 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3.9) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4138566) |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$105112802 |

---

---

| | |
|:---|:---|
| † | &nbsp;&nbsp;Non-income producing security |
| \* | &nbsp;&nbsp;Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The SA Franklin Tactical Opportunities Portfolio has no right to demand registration of these securities. At July 31, 2025, the aggregate value of these securities was $4,409,726 representing 4.2% of net assets. |
| (1) | &nbsp;&nbsp;Denotes a restricted security that: (a) cannot be offered for public sale without first being registered, or being able to take advantage of an exemption from registration, under the Securities Act of 1933, as amended (the "1933 Act"); (b) is subject to a contractual restriction on public sales; or (c) is otherwise subject to a restriction on sales by operation of applicable law. Restricted securities are valued pursuant to Note 2. Certain restricted securities held by the Portfolio may not be sold except in exempt transactions or in a public offering registered under the 1933 Act. The Portfolio has no right to demand registration of these securities. The risk of investing in certain restricted securities is greater than the risk of investing in the securities of widely held, publicly traded companies. To the extent applicable, lack of a secondary market and resale restrictions may result in the inability of a Portfolio to sell a security at a fair price and may substantially delay the sale of the security. In addition, certain restricted securities may exhibit greater price volatility than securities for which secondary markets exist. As of July 31, 2025, the Portfolio held the following restricted securities: |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition<br> Date** | **Shares or<br> Principal<br> Amount** | **Acquisition<br> Cost** | **Value** | **Value<br> Per Share** | **% of<br> Net Assets** |
| **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** |
| Bank of N.T. Butterfield & Son, Ltd. |  |  |  |  |  |  |
|  | 08/20/2024 | &nbsp;&nbsp;&nbsp;759 | $27761 |  |  |  |
|  | 02/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp;&nbsp;&nbsp;2835 |  |  |  |
|  |  | &nbsp;&nbsp;&nbsp;831 | &nbsp;&nbsp;30596 | $37819 | $45.51 | 0.1% |
| Lands' End, Inc. | 04/24/2024 | 1177 | &nbsp;&nbsp;15997 | &nbsp;&nbsp;13806 | &nbsp;&nbsp;11.73 | 0.0 |
| SkyWater Technology, Inc. |  |  |  |  |  |  |
|  | 08/20/2024 | 1647 | &nbsp;&nbsp;16509 |  |  |  |
|  | 11/19/2024 | &nbsp;&nbsp;&nbsp;182 | &nbsp;&nbsp;&nbsp;&nbsp;1494 |  |  |  |
|  | 11/20/2024 | &nbsp;&nbsp;&nbsp;269 | &nbsp;&nbsp;&nbsp;&nbsp;2224 |  |  |  |
|  |  | 2098 | &nbsp;&nbsp;20227 | &nbsp;&nbsp;18777 | &nbsp;&nbsp;&nbsp;&nbsp;8.95 | 0.0 |
|  |  |  |  | $70402 |  | 0.1%\*\* |

---

\*\* Amount represents the total value of the restricted securities divided by the net assets of the Portfolio and may not equal the sum of the individual percentages shown due to rounding.

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

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

(4) "Step-up" security where the rate increases ("steps-up") at a predetermined rate. The rate reflected is as of July 31, 2025.

(5) Interest Only

(6) The rate shown is the 7-day yield as of July 31, 2025.

(7) See Note 4 for cost of investments on a tax basis.

ADR—American Depositary Receipt <br> CVR—Contingent Value Rights <br> ETF—Exchange Traded Fund

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Franklin Tactical Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| |
|:---|
| FRS—Floating Rate Security |
| H15T1Y—US Treasury Yield Curve Rate Note Constant Maturity 1 Year |
| NASDAQ—National Association of Securities Dealers Automated Quotations |
| NES—Non-voting Equity Securities |
| REMIC—Real Estate Mortgage Investment Conduit |
| SOFR30A—US 30 Day Average Secured Overnight Financing Rate |
| TBA—Securities purchased on a forward commitment basis with an approximate principal amount and no definite maturity date. The actual principal amount and maturity date will be determined upon settlement date. |

---

TSFR1M—Term Secured Overnight Financing Rate 1 Month <br> VRS—Variable Rate Security <br> XAMS—Euronext Amsterdam Stock Exchange

The rates shown on FRS and/or VRS are the current interest rates at July 31, 2025 and unless noted otherwise, the dates shown are the original maturity dates.

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;$852603 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$507 | &nbsp;&nbsp;$853110 |
| &nbsp;&nbsp;&nbsp;Iron/Steel | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151245 |
| &nbsp;&nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;3561456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3561649 |
| &nbsp;&nbsp;&nbsp;Other Industries | &nbsp;&nbsp;&nbsp;&nbsp;62991852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;62991852 |
| Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;9390972 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9390972 |
| Asset Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997674 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997674 |
| Collateralized Mortgage Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;3591663 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3591663 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;18685791 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;18685791 |
| Unaffiliated Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;5563791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5563791 |
| Short-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;1764513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1764513 |
| &nbsp;&nbsp;&nbsp;Other Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1699108 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1699108 |
| **Total Investments at Value** | &nbsp;&nbsp;$74885460 | &nbsp;&nbsp;$34365208 | &nbsp;&nbsp;$700 | &nbsp;&nbsp;$109251368 |

---

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

Level 3 investments in securities were not considered a significant portion of the Portfolio's net assets.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Global Index Allocation 60/40 Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **AFFILIATED INVESTMENT COMPANIES#(1) — 100.1%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 100.1%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 100.1%** |
| **Domestic Fixed Income Investment Companies — 38.1%** | **Domestic Fixed Income Investment Companies — 38.1%** | **Domestic Fixed Income Investment Companies — 38.1%** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Fixed Income Index Portfolio, Class 1 | 2062326 | &nbsp;&nbsp;$19901439 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio, Class 1 | 1997294 | &nbsp;&nbsp;&nbsp;&nbsp; 20492239 |
| **Total Domestic Fixed Income Investment Companies<br> (cost $41,621,634)** |  | &nbsp;&nbsp;&nbsp;&nbsp;40393678 |
| **Domestic Equity Investment Companies — 32.0%** | **Domestic Equity Investment Companies — 32.0%** | **Domestic Equity Investment Companies — 32.0%** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Large Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;630326 | &nbsp;&nbsp;&nbsp;&nbsp; 26952739 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Mid Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;340761 | &nbsp;&nbsp;&nbsp;&nbsp; 5336312 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Small Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;127241 | &nbsp;&nbsp;&nbsp;&nbsp; 1671954 |
| **Total Domestic Equity Investment Companies<br> (cost $27,225,538)** |  | &nbsp;&nbsp;&nbsp;&nbsp;33961005 |
| **International Equity Investment Companies — 30.0%** | **International Equity Investment Companies — 30.0%** | **International Equity Investment Companies — 30.0%** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Emerging Markets Equity Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;198100 | &nbsp;&nbsp;&nbsp;&nbsp; 3314210 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **International Equity Investment Companies (continued)** | **International Equity Investment Companies (continued)** |  |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA International Index Portfolio, Class 1 | 1883427 | &nbsp;&nbsp;$28439758 |
| **Total International Equity Investment Companies<br> (cost $25,935,837)** |  | &nbsp;&nbsp;&nbsp;&nbsp;31753968 |
| **TOTAL INVESTMENTS<br> (cost $94,783,009)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.1% | &nbsp;&nbsp;&nbsp;&nbsp;106108651 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59467) |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$106049184 |

---

# The SunAmerica Series Trust SA Global Index Allocation 60/40 Portfolio invests in Class 1 shares of the underlying Portfolios, which are Portfolios of SunAmerica Series Trust. Additional information on the underlying Portfolios, including such portfolios' prospectuses and shareholder reports are available on our website, www.corebridgefinancial.com/getprospectus

(1) See Note 8.

(2) See Note 4 for cost of investments on a tax basis.

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Affiliated Investment Companies | &nbsp;&nbsp;$106108651 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$106108651 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Global Index Allocation 75/25 Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **AFFILIATED INVESTMENT COMPANIES#(1) — 100.1%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 100.1%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 100.1%** |
| **Domestic Equity Investment Companies — 41.0%** | **Domestic Equity Investment Companies — 41.0%** | **Domestic Equity Investment Companies — 41.0%** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Large Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;798658 | &nbsp;&nbsp;$34150611 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Mid Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;417873 | &nbsp;&nbsp;&nbsp;&nbsp; 6543889 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Small Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;260973 | &nbsp;&nbsp;&nbsp;&nbsp; 3429185 |
| **Total Domestic Equity Investment Companies<br> (cost $35,444,130)** |  | &nbsp;&nbsp;&nbsp;&nbsp;44123685 |
| **International Equity Investment Companies — 36.5%** | **International Equity Investment Companies — 36.5%** | **International Equity Investment Companies — 36.5%** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Emerging Markets Equity Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;331842 | &nbsp;&nbsp;&nbsp;&nbsp; 5551714 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA International Index Portfolio, Class 1 | 2231295 | &nbsp;&nbsp;&nbsp;&nbsp; 33692558 |
| **Total International Equity Investment Companies<br> (cost $32,371,941)** |  | &nbsp;&nbsp;&nbsp;&nbsp;39244272 |
| **Domestic Fixed Income Investment Companies — 22.6%** | **Domestic Fixed Income Investment Companies — 22.6%** | **Domestic Fixed Income Investment Companies — 22.6%** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Fixed Income Index Portfolio, Class 1 | 1231039 | &nbsp;&nbsp;&nbsp;&nbsp; 11879523 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Domestic Fixed Income Investment Companies (continued)** | **Domestic Fixed Income Investment Companies (continued)** |  |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio, Class 1 | 1209221 | &nbsp;&nbsp;$12406612 |
| **Total Domestic Fixed Income Investment Companies<br> (cost $24,927,827)** |  | &nbsp;&nbsp;&nbsp;&nbsp;24286135 |
| **TOTAL INVESTMENTS<br> (cost $92,743,898)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.1% | &nbsp;&nbsp;&nbsp;&nbsp;107654092 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(61547) |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$107592545 |

---

# The SunAmerica Series Trust SA Global Index Allocation 75/25 Portfolio invests in Class 1 shares of the underlying Portfolios, which are Portfolios of SunAmerica Series Trust. Additional information on the underlying Portfolios, including such portfolios' prospectuses and shareholder reports are available on our website, www.corebridgefinancial.com/getprospectus

(1) See Note 8.

(2) See Note 4 for cost of investments on a tax basis.

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Affiliated Investment Companies | &nbsp;&nbsp;$107654092 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$107654092 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Global Index Allocation 90/10 Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **AFFILIATED INVESTMENT COMPANIES#(1) — 100.0%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 100.0%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 100.0%** |
| **Domestic Equity Investment Companies — 47.9%** | **Domestic Equity Investment Companies — 47.9%** | **Domestic Equity Investment Companies — 47.9%** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Large Cap Index Portfolio, Class 1 | 3343474 | &nbsp;&nbsp;$142966932 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Mid Cap Index Portfolio, Class 1 | 2021860 | &nbsp;&nbsp;&nbsp;&nbsp; 31662337 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Small Cap Index Portfolio, Class 1 | 1179809 | &nbsp;&nbsp;&nbsp;&nbsp; 15502687 |
| **Total Domestic Equity Investment Companies<br> (cost $149,543,700)** |  | &nbsp;&nbsp;&nbsp;&nbsp;190131956 |
| **International Equity Investment Companies — 43.8%** | **International Equity Investment Companies — 43.8%** | **International Equity Investment Companies — 43.8%** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Emerging Markets Equity Index Portfolio, Class 1 | 1220983 | &nbsp;&nbsp;&nbsp;&nbsp; 20427055 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA International Index Portfolio, Class 1 | 10175827 | &nbsp;&nbsp;&nbsp;&nbsp;153654982 |
| **Total International Equity Investment Companies<br> (cost $142,929,878)** |  | &nbsp;&nbsp;&nbsp;&nbsp;174082037 |
| **Domestic Fixed Income Investment Companies — 8.3%** | **Domestic Fixed Income Investment Companies — 8.3%** | **Domestic Fixed Income Investment Companies — 8.3%** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Fixed Income Index Portfolio, Class 1 | 1679866 | &nbsp;&nbsp;&nbsp;&nbsp; 16210712 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Domestic Fixed Income Investment Companies (continued)** | **Domestic Fixed Income Investment Companies (continued)** |  |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio, Class 1 | 1623778 | &nbsp;&nbsp;$16659960 |
| **Total Domestic Fixed Income Investment Companies<br> (cost $33,256,711)** |  | &nbsp;&nbsp;&nbsp;&nbsp;32870672 |
| **TOTAL INVESTMENTS<br> (cost $325,730,289)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;&nbsp;&nbsp;397084665 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.0) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(153863) |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$396930802 |

---

# The SunAmerica Series Trust SA Global Index Allocation 90/10 Portfolio invests in Class 1 shares of the underlying Portfolios, which are Portfolios of SunAmerica Series Trust. Additional information on the underlying Portfolios, including such portfolios' prospectuses and shareholder reports are available on our website, www.corebridgefinancial.com/getprospectus

(1) See Note 8.

(2) See Note 4 for cost of investments on a tax basis.

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Affiliated Investment Companies | &nbsp;&nbsp;$397084665 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$397084665 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Goldman Sachs Multi-Asset Insights Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 70.8%** | **COMMON STOCKS — 70.8%** | **COMMON STOCKS — 70.8%** |
| **Aerospace/Defense — 3.1%** | **Aerospace/Defense — 3.1%** | **Aerospace/Defense — 3.1%** |
| &nbsp;&nbsp;&nbsp;Dassault Aviation SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp;$117817 |
| &nbsp;&nbsp;&nbsp;FTAI Aviation, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719 | &nbsp;&nbsp;&nbsp;&nbsp; 98942 |
| &nbsp;&nbsp;&nbsp;General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826 | &nbsp;&nbsp;&nbsp;&nbsp; 257390 |
| &nbsp;&nbsp;&nbsp;General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1243 | &nbsp;&nbsp;&nbsp;&nbsp; 336952 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163 | &nbsp;&nbsp;&nbsp;&nbsp; 29302 |
| &nbsp;&nbsp;&nbsp;Rheinmetall AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp; 21786 |
| &nbsp;&nbsp;&nbsp;Rolls-Royce Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2265 | &nbsp;&nbsp;&nbsp;&nbsp; 32066 |
| &nbsp;&nbsp;&nbsp;Saab AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246 | &nbsp;&nbsp;&nbsp;&nbsp; 13412 |
| &nbsp;&nbsp;&nbsp;Safran SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1543 | &nbsp;&nbsp;&nbsp;&nbsp; 509772 |
| &nbsp;&nbsp;&nbsp;Singapore Technologies Engineering, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp; 64843 |
| &nbsp;&nbsp;&nbsp;Thales SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303 | &nbsp;&nbsp;&nbsp;&nbsp; 81536 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1563818 |
| **Agriculture — 0.8%** | **Agriculture — 0.8%** | **Agriculture — 0.8%** |
| &nbsp;&nbsp;&nbsp;Imperial Brands PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10899 | &nbsp;&nbsp;&nbsp;&nbsp; 425192 |
| **Airlines — 0.8%** | **Airlines — 0.8%** | **Airlines — 0.8%** |
| &nbsp;&nbsp;&nbsp;Alaska Air Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2767 | &nbsp;&nbsp;&nbsp;&nbsp; 146541 |
| &nbsp;&nbsp;&nbsp;Qantas Airways, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32149 | &nbsp;&nbsp;&nbsp;&nbsp; 224580 |
| &nbsp;&nbsp;&nbsp;SkyWest, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119 | &nbsp;&nbsp;&nbsp;&nbsp; 13799 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384920 |
| **Apparel — 0.4%** | **Apparel — 0.4%** | **Apparel — 0.4%** |
| &nbsp;&nbsp;&nbsp;Birkenstock Holding PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1381 | &nbsp;&nbsp;&nbsp;&nbsp; 69174 |
| &nbsp;&nbsp;&nbsp;Kontoor Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp;&nbsp;&nbsp; 24212 |
| &nbsp;&nbsp;&nbsp;On Holding AG, Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2413 | &nbsp;&nbsp;&nbsp;&nbsp; 117200 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210586 |
| **Auto Manufacturers — 0.6%** | **Auto Manufacturers — 0.6%** | **Auto Manufacturers — 0.6%** |
| &nbsp;&nbsp;&nbsp;Ferrari NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp;&nbsp;&nbsp; 10553 |
| &nbsp;&nbsp;&nbsp;Tesla, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918 | &nbsp;&nbsp;&nbsp;&nbsp; 282992 |
| &nbsp;&nbsp;&nbsp;Toyota Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp; 28610 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322155 |
| **Auto Parts & Equipment — 0.7%** | **Auto Parts & Equipment — 0.7%** | **Auto Parts & Equipment — 0.7%** |
| &nbsp;&nbsp;&nbsp;Continental AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3440 | &nbsp;&nbsp;&nbsp;&nbsp; 295215 |
| &nbsp;&nbsp;&nbsp;NOK Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp; 9131 |
| &nbsp;&nbsp;&nbsp;Sumitomo Electric Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp; 42365 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346711 |
| **Banks — 6.0%** | **Banks — 6.0%** | **Banks — 6.0%** |
| &nbsp;&nbsp;&nbsp;Banca Mediolanum SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5426 | &nbsp;&nbsp;&nbsp;&nbsp; 95978 |
| &nbsp;&nbsp;&nbsp;Banco BPM SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9485 | &nbsp;&nbsp;&nbsp;&nbsp; 121232 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6407 | &nbsp;&nbsp;&nbsp;&nbsp; 302859 |
| &nbsp;&nbsp;&nbsp;BAWAG Group AG\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787 | &nbsp;&nbsp;&nbsp;&nbsp; 99512 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1823 | &nbsp;&nbsp;&nbsp;&nbsp; 86994 |
| &nbsp;&nbsp;&nbsp;Commerce Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1095 | &nbsp;&nbsp;&nbsp;&nbsp; 67014 |
| &nbsp;&nbsp;&nbsp;Computershare, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4485 | &nbsp;&nbsp;&nbsp;&nbsp; 121488 |
| &nbsp;&nbsp;&nbsp;Cullen/Frost Bankers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193 | &nbsp;&nbsp;&nbsp;&nbsp; 24590 |
| &nbsp;&nbsp;&nbsp;DNB Bank ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp; 7865 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5770 | &nbsp;&nbsp;&nbsp;&nbsp; 70319 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2934 | &nbsp;&nbsp;&nbsp;&nbsp; 48206 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp; 222180 |
| &nbsp;&nbsp;&nbsp;KBC Ancora | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87 | &nbsp;&nbsp;&nbsp;&nbsp; 6344 |
| &nbsp;&nbsp;&nbsp;Lion Finance Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496 | &nbsp;&nbsp;&nbsp;&nbsp; 49881 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1269 | &nbsp;&nbsp;&nbsp;&nbsp; 180782 |
| &nbsp;&nbsp;&nbsp;NatWest Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28299 | &nbsp;&nbsp;&nbsp;&nbsp; 196956 |
| &nbsp;&nbsp;&nbsp;Nordea Bank Abp (NASDAQ Helsinki) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13084 | &nbsp;&nbsp;&nbsp;&nbsp; 191123 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858 | &nbsp;&nbsp;&nbsp;&nbsp; 163252 |
| &nbsp;&nbsp;&nbsp;Red River Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61 | &nbsp;&nbsp;&nbsp;&nbsp; 3670 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Trust Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4900 | &nbsp;&nbsp;&nbsp;&nbsp; 129226 |
| &nbsp;&nbsp;&nbsp;Svenska Handelsbanken AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;981 | &nbsp;&nbsp;&nbsp;&nbsp; 11995 |
| &nbsp;&nbsp;&nbsp;Swedbank AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1063 | &nbsp;&nbsp;&nbsp;&nbsp; 28352 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;TBC Bank Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277 | &nbsp;&nbsp;$17742 |
| &nbsp;&nbsp;&nbsp;UBS Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13472 | &nbsp;&nbsp;&nbsp;&nbsp; 504879 |
| &nbsp;&nbsp;&nbsp;UniCredit SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466 | &nbsp;&nbsp;&nbsp;&nbsp; 34370 |
| &nbsp;&nbsp;&nbsp;United Community Banks, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359 | &nbsp;&nbsp;&nbsp;&nbsp; 10950 |
| &nbsp;&nbsp;&nbsp;US Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5096 | &nbsp;&nbsp;&nbsp;&nbsp; 229116 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3026875 |
| **Beverages — 0.6%** | **Beverages — 0.6%** | **Beverages — 0.6%** |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4338 | &nbsp;&nbsp;&nbsp;&nbsp; 294507 |
| **Biotechnology — 0.9%** | **Biotechnology — 0.9%** | **Biotechnology — 0.9%** |
| &nbsp;&nbsp;&nbsp;BioMarin Pharmaceutical, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1059 | &nbsp;&nbsp;&nbsp;&nbsp; 61263 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627 | &nbsp;&nbsp;&nbsp;&nbsp; 342003 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119 | &nbsp;&nbsp;&nbsp;&nbsp; 54368 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457634 |
| **Building Materials — 0.6%** | **Building Materials — 0.6%** | **Building Materials — 0.6%** |
| &nbsp;&nbsp;&nbsp;Asia Pile Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17600 | &nbsp;&nbsp;&nbsp;&nbsp; 117411 |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;961 | &nbsp;&nbsp;&nbsp;&nbsp; 65944 |
| &nbsp;&nbsp;&nbsp;Cementir Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1565 | &nbsp;&nbsp;&nbsp;&nbsp; 23289 |
| &nbsp;&nbsp;&nbsp;Holcim AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp;&nbsp;&nbsp; 56800 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp; 15107 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278551 |
| **Chemicals — 1.2%** | **Chemicals — 1.2%** | **Chemicals — 1.2%** |
| &nbsp;&nbsp;&nbsp;Air Liquide SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2081 | &nbsp;&nbsp;&nbsp;&nbsp; 410372 |
| &nbsp;&nbsp;&nbsp;Givaudan SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp; 4199 |
| &nbsp;&nbsp;&nbsp;Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393 | &nbsp;&nbsp;&nbsp;&nbsp; 180882 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595453 |
| **Commercial Services — 1.6%** | **Commercial Services — 1.6%** | **Commercial Services — 1.6%** |
| &nbsp;&nbsp;&nbsp;Affirm Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;838 | &nbsp;&nbsp;&nbsp;&nbsp; 57453 |
| &nbsp;&nbsp;&nbsp;Alight, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38608 | &nbsp;&nbsp;&nbsp;&nbsp; 206939 |
| &nbsp;&nbsp;&nbsp;Babcock International Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6234 | &nbsp;&nbsp;&nbsp;&nbsp; 85540 |
| &nbsp;&nbsp;&nbsp;Bright Horizons Family Solutions, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609 | &nbsp;&nbsp;&nbsp;&nbsp; 68878 |
| &nbsp;&nbsp;&nbsp;Cintas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp; 144657 |
| &nbsp;&nbsp;&nbsp;Equifax, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507 | &nbsp;&nbsp;&nbsp;&nbsp; 121797 |
| &nbsp;&nbsp;&nbsp;Euronet Worldwide, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132 | &nbsp;&nbsp;&nbsp;&nbsp; 12828 |
| &nbsp;&nbsp;&nbsp;PIA Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 19761 |
| &nbsp;&nbsp;&nbsp;RELX PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307 | &nbsp;&nbsp;&nbsp;&nbsp; 15958 |
| &nbsp;&nbsp;&nbsp;Remitly Global, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1243 | &nbsp;&nbsp;&nbsp;&nbsp; 20510 |
| &nbsp;&nbsp;&nbsp;Wolters Kluwer NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233 | &nbsp;&nbsp;&nbsp;&nbsp; 36348 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790669 |
| **Computers — 3.0%** | **Computers — 3.0%** | **Computers — 3.0%** |
| &nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6229 | &nbsp;&nbsp;&nbsp;&nbsp; 1292953 |
| &nbsp;&nbsp;&nbsp;ExlService Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429 | &nbsp;&nbsp;&nbsp;&nbsp; 18631 |
| &nbsp;&nbsp;&nbsp;Focus Systems Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp;&nbsp;&nbsp; 44881 |
| &nbsp;&nbsp;&nbsp;Gartner, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172 | &nbsp;&nbsp;&nbsp;&nbsp; 58248 |
| &nbsp;&nbsp;&nbsp;Varonis Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1814 | &nbsp;&nbsp;&nbsp;&nbsp; 101276 |
| &nbsp;&nbsp;&nbsp;Zscaler, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;&nbsp; 10851 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1526840 |
| **Cosmetics/Personal Care — 1.2%** | **Cosmetics/Personal Care — 1.2%** | **Cosmetics/Personal Care — 1.2%** |
| &nbsp;&nbsp;&nbsp;Prestige Consumer Healthcare, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1801 | &nbsp;&nbsp;&nbsp;&nbsp; 133184 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3192 | &nbsp;&nbsp;&nbsp;&nbsp; 480300 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613484 |
| **Distribution/Wholesale — 0.2%** | **Distribution/Wholesale — 0.2%** | **Distribution/Wholesale — 0.2%** |
| &nbsp;&nbsp;&nbsp;Innotech Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9900 | &nbsp;&nbsp;&nbsp;&nbsp; 97293 |
| **Diversified Financial Services — 4.0%** | **Diversified Financial Services — 4.0%** | **Diversified Financial Services — 4.0%** |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317 | &nbsp;&nbsp;&nbsp;&nbsp; 164266 |
| &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1040 | &nbsp;&nbsp;&nbsp;&nbsp; 223600 |
| &nbsp;&nbsp;&nbsp;CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1542 | &nbsp;&nbsp;&nbsp;&nbsp; 429108 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Goldman Sachs Multi-Asset Insights Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| &nbsp;&nbsp;&nbsp;Coinbase Global, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;$24554 |
| &nbsp;&nbsp;&nbsp;Daiwa Securities Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11200 | &nbsp;&nbsp;&nbsp;&nbsp; 78504 |
| &nbsp;&nbsp;&nbsp;Hong Kong Exchanges & Clearing, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp; 65274 |
| &nbsp;&nbsp;&nbsp;Invesco, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2902 | &nbsp;&nbsp;&nbsp;&nbsp; 60971 |
| &nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103 | &nbsp;&nbsp;&nbsp;&nbsp; 58346 |
| &nbsp;&nbsp;&nbsp;NEC Capital Solutions, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp; 15358 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp; 29324 |
| &nbsp;&nbsp;&nbsp;ORIX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 15782 |
| &nbsp;&nbsp;&nbsp;SBI Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3700 | &nbsp;&nbsp;&nbsp;&nbsp; 138922 |
| &nbsp;&nbsp;&nbsp;Singapore Exchange, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp; 123229 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322 | &nbsp;&nbsp;&nbsp;&nbsp; 22434 |
| &nbsp;&nbsp;&nbsp;Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1677 | &nbsp;&nbsp;&nbsp;&nbsp; 579353 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2029025 |
| **Electric — 0.9%** | **Electric — 0.9%** | **Electric — 0.9%** |
| &nbsp;&nbsp;&nbsp;A2A SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2182 | &nbsp;&nbsp;&nbsp;&nbsp; 5311 |
| &nbsp;&nbsp;&nbsp;E.ON SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17095 | &nbsp;&nbsp;&nbsp;&nbsp; 311263 |
| &nbsp;&nbsp;&nbsp;Engie SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785 | &nbsp;&nbsp;&nbsp;&nbsp; 17576 |
| &nbsp;&nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860 | &nbsp;&nbsp;&nbsp;&nbsp; 61112 |
| &nbsp;&nbsp;&nbsp;Ormat Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194 | &nbsp;&nbsp;&nbsp;&nbsp; 17345 |
| &nbsp;&nbsp;&nbsp;SSE PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1309 | &nbsp;&nbsp;&nbsp;&nbsp; 31956 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444563 |
| **Electrical Components & Equipment — 1.1%** | **Electrical Components & Equipment — 1.1%** | **Electrical Components & Equipment — 1.1%** |
| &nbsp;&nbsp;&nbsp;AMETEK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1691 | &nbsp;&nbsp;&nbsp;&nbsp; 312581 |
| &nbsp;&nbsp;&nbsp;Eaton Corp. PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp; 5771 |
| &nbsp;&nbsp;&nbsp;Legrand SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1128 | &nbsp;&nbsp;&nbsp;&nbsp; 167281 |
| &nbsp;&nbsp;&nbsp;Schneider Electric SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312 | &nbsp;&nbsp;&nbsp;&nbsp; 81270 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566903 |
| **Electronics — 1.6%** | **Electronics — 1.6%** | **Electronics — 1.6%** |
| &nbsp;&nbsp;&nbsp;ABB, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2381 | &nbsp;&nbsp;&nbsp;&nbsp; 156887 |
| &nbsp;&nbsp;&nbsp;Amphenol Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3964 | &nbsp;&nbsp;&nbsp;&nbsp; 422206 |
| &nbsp;&nbsp;&nbsp;Chino Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 11173 |
| &nbsp;&nbsp;&nbsp;Garmin, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;&nbsp;&nbsp; 13563 |
| &nbsp;&nbsp;&nbsp;Halma PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2519 | &nbsp;&nbsp;&nbsp;&nbsp; 108185 |
| &nbsp;&nbsp;&nbsp;Jabil, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;&nbsp;&nbsp; 9820 |
| &nbsp;&nbsp;&nbsp;Mettler-Toledo International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp; 9869 |
| &nbsp;&nbsp;&nbsp;SCREEN Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 31777 |
| &nbsp;&nbsp;&nbsp;Yamaichi Electronics Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 21190 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784670 |
| **Energy-Alternate Sources — 0.2%** | **Energy-Alternate Sources — 0.2%** | **Energy-Alternate Sources — 0.2%** |
| &nbsp;&nbsp;&nbsp;2G Energy AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629 | &nbsp;&nbsp;&nbsp;&nbsp; 26128 |
| &nbsp;&nbsp;&nbsp;EF-ON, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4900 | &nbsp;&nbsp;&nbsp;&nbsp; 11308 |
| &nbsp;&nbsp;&nbsp;Vestas Wind Systems A/S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3532 | &nbsp;&nbsp;&nbsp;&nbsp; 64800 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102236 |
| **Engineering & Construction — 1.0%** | **Engineering & Construction — 1.0%** | **Engineering & Construction — 1.0%** |
| &nbsp;&nbsp;&nbsp;Comfort Systems USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp; 186374 |
| &nbsp;&nbsp;&nbsp;EXEO Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp; 303820 |
| &nbsp;&nbsp;&nbsp;Obayashi Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 10345 |
| &nbsp;&nbsp;&nbsp;PS Mitsubishi Construction Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 4875 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505414 |
| **Entertainment — 0.5%** | **Entertainment — 0.5%** | **Entertainment — 0.5%** |
| &nbsp;&nbsp;&nbsp;Avex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp; 13549 |
| &nbsp;&nbsp;&nbsp;Brightstar Lottery PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11838 | &nbsp;&nbsp;&nbsp;&nbsp; 175676 |
| &nbsp;&nbsp;&nbsp;Madison Square Garden Entertainment Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1936 | &nbsp;&nbsp;&nbsp;&nbsp; 73161 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262386 |
| **Food — 1.3%** | **Food — 1.3%** | **Food — 1.3%** |
| &nbsp;&nbsp;&nbsp;Cal-Maine Foods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2334 | &nbsp;&nbsp;&nbsp;&nbsp; 259401 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Food (continued)** | **Food (continued)** | **Food (continued)** |
| &nbsp;&nbsp;&nbsp;Nestle SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1723 | &nbsp;&nbsp;$150822 |
| &nbsp;&nbsp;&nbsp;Sprouts Farmers Market, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp; 6062 |
| &nbsp;&nbsp;&nbsp;Tesco PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27316 | &nbsp;&nbsp;&nbsp;&nbsp; 153462 |
| &nbsp;&nbsp;&nbsp;WH Group, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79500 | &nbsp;&nbsp;&nbsp;&nbsp; 80108 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649855 |
| **Hand/Machine Tools — 0.3%** | **Hand/Machine Tools — 0.3%** | **Hand/Machine Tools — 0.3%** |
| &nbsp;&nbsp;&nbsp;Fuji Electric Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp; 170834 |
| **Healthcare-Products — 1.3%** | **Healthcare-Products — 1.3%** | **Healthcare-Products — 1.3%** |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2252 | &nbsp;&nbsp;&nbsp;&nbsp; 284180 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183 | &nbsp;&nbsp;&nbsp;&nbsp; 13051 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418 | &nbsp;&nbsp;&nbsp;&nbsp; 201096 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526 | &nbsp;&nbsp;&nbsp;&nbsp; 47466 |
| &nbsp;&nbsp;&nbsp;Natera, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789 | &nbsp;&nbsp;&nbsp;&nbsp; 105458 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651251 |
| **Healthcare-Services — 0.7%** | **Healthcare-Services — 0.7%** | **Healthcare-Services — 0.7%** |
| &nbsp;&nbsp;&nbsp;IQVIA Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;687 | &nbsp;&nbsp;&nbsp;&nbsp; 127686 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46 | &nbsp;&nbsp;&nbsp;&nbsp; 7701 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339 | &nbsp;&nbsp;&nbsp;&nbsp; 84601 |
| &nbsp;&nbsp;&nbsp;Universal Health Services, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;841 | &nbsp;&nbsp;&nbsp;&nbsp; 139984 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359972 |
| **Home Builders — 0.0%** | **Home Builders — 0.0%** | **Home Builders — 0.0%** |
| &nbsp;&nbsp;&nbsp;PulteGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 | &nbsp;&nbsp;&nbsp;&nbsp; 5533 |
| **Insurance — 3.3%** | **Insurance — 3.3%** | **Insurance — 3.3%** |
| &nbsp;&nbsp;&nbsp;Allianz SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1168 | &nbsp;&nbsp;&nbsp;&nbsp; 462790 |
| &nbsp;&nbsp;&nbsp;Arthur J. Gallagher & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489 | &nbsp;&nbsp;&nbsp;&nbsp; 140465 |
| &nbsp;&nbsp;&nbsp;Aviva PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1913 | &nbsp;&nbsp;&nbsp;&nbsp; 16386 |
| &nbsp;&nbsp;&nbsp;AXA SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4085 | &nbsp;&nbsp;&nbsp;&nbsp; 198966 |
| &nbsp;&nbsp;&nbsp;Beazley PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934 | &nbsp;&nbsp;&nbsp;&nbsp; 11034 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc., Class B† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198 | &nbsp;&nbsp;&nbsp;&nbsp; 93432 |
| &nbsp;&nbsp;&nbsp;Dai-ichi Life Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15600 | &nbsp;&nbsp;&nbsp;&nbsp; 124500 |
| &nbsp;&nbsp;&nbsp;Jackson Financial, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1274 | &nbsp;&nbsp;&nbsp;&nbsp; 111552 |
| &nbsp;&nbsp;&nbsp;Japan Post Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26700 | &nbsp;&nbsp;&nbsp;&nbsp; 248321 |
| &nbsp;&nbsp;&nbsp;Loews Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp;&nbsp;&nbsp; 6609 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353 | &nbsp;&nbsp;&nbsp;&nbsp; 70318 |
| &nbsp;&nbsp;&nbsp;MetLife, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp; 5317 |
| &nbsp;&nbsp;&nbsp;Muenchener Rueckversicherungs-Gesellschaft AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124 | &nbsp;&nbsp;&nbsp;&nbsp; 81452 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp;&nbsp; 19068 |
| &nbsp;&nbsp;&nbsp;Travelers Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239 | &nbsp;&nbsp;&nbsp;&nbsp; 62197 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1652407 |
| **Internet — 7.4%** | **Internet — 7.4%** | **Internet — 7.4%** |
| &nbsp;&nbsp;&nbsp;Airbnb, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;922 | &nbsp;&nbsp;&nbsp;&nbsp; 122082 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2535 | &nbsp;&nbsp;&nbsp;&nbsp; 486466 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2379 | &nbsp;&nbsp;&nbsp;&nbsp; 458814 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3699 | &nbsp;&nbsp;&nbsp;&nbsp; 865973 |
| &nbsp;&nbsp;&nbsp;Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp;&nbsp;&nbsp; 115585 |
| &nbsp;&nbsp;&nbsp;Coupang, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466 | &nbsp;&nbsp;&nbsp;&nbsp; 13714 |
| &nbsp;&nbsp;&nbsp;DoorDash, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168 | &nbsp;&nbsp;&nbsp;&nbsp; 42042 |
| &nbsp;&nbsp;&nbsp;Expedia Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp; 8651 |
| &nbsp;&nbsp;&nbsp;GoDaddy, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129 | &nbsp;&nbsp;&nbsp;&nbsp; 20844 |
| &nbsp;&nbsp;&nbsp;MercadoLibre, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp; 159051 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658 | &nbsp;&nbsp;&nbsp;&nbsp; 508923 |
| &nbsp;&nbsp;&nbsp;Netflix, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313 | &nbsp;&nbsp;&nbsp;&nbsp; 362892 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982 | &nbsp;&nbsp;&nbsp;&nbsp; 170475 |
| &nbsp;&nbsp;&nbsp;Prosus NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3893 | &nbsp;&nbsp;&nbsp;&nbsp; 223201 |
| &nbsp;&nbsp;&nbsp;Reddit, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp;&nbsp; 51389 |
| &nbsp;&nbsp;&nbsp;Roku, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1029 | &nbsp;&nbsp;&nbsp;&nbsp; 96891 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Goldman Sachs Multi-Asset Insights Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| &nbsp;&nbsp;&nbsp;Scout24 SE\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143 | &nbsp;&nbsp;$19159 |
| &nbsp;&nbsp;&nbsp;Upwork, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1069 | &nbsp;&nbsp;&nbsp;&nbsp; 12785 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3738937 |
| **Investment Companies — 0.3%** | **Investment Companies — 0.3%** | **Investment Companies — 0.3%** |
| &nbsp;&nbsp;&nbsp;Investor AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5494 | &nbsp;&nbsp;&nbsp;&nbsp; 159669 |
| **Leisure Time — 1.2%** | **Leisure Time — 1.2%** | **Leisure Time — 1.2%** |
| &nbsp;&nbsp;&nbsp;Heiwa Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp; 191351 |
| &nbsp;&nbsp;&nbsp;Peloton Interactive, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7198 | &nbsp;&nbsp;&nbsp;&nbsp; 51394 |
| &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1125 | &nbsp;&nbsp;&nbsp;&nbsp; 357604 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600349 |
| **Machinery-Construction & Mining — 0.4%** | **Machinery-Construction & Mining — 0.4%** | **Machinery-Construction & Mining — 0.4%** |
| &nbsp;&nbsp;&nbsp;Caterpillar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp;&nbsp; 85414 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Electric Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 6648 |
| &nbsp;&nbsp;&nbsp;Modec, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 12832 |
| &nbsp;&nbsp;&nbsp;Siemens Energy AG† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846 | &nbsp;&nbsp;&nbsp;&nbsp; 98476 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203370 |
| **Machinery-Diversified — 0.6%** | **Machinery-Diversified — 0.6%** | **Machinery-Diversified — 0.6%** |
| &nbsp;&nbsp;&nbsp;Accelleron Industries AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1052 | &nbsp;&nbsp;&nbsp;&nbsp; 96296 |
| &nbsp;&nbsp;&nbsp;Burckhardt Compression Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112 | &nbsp;&nbsp;&nbsp;&nbsp; 100107 |
| &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351 | &nbsp;&nbsp;&nbsp;&nbsp; 30077 |
| &nbsp;&nbsp;&nbsp;Wartsila OYJ Abp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3378 | &nbsp;&nbsp;&nbsp;&nbsp; 93445 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319925 |
| **Media — 0.0%** | **Media — 0.0%** | **Media — 0.0%** |
| &nbsp;&nbsp;&nbsp;News Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198 | &nbsp;&nbsp;&nbsp;&nbsp; 5805 |
| **Mining — 1.2%** | **Mining — 1.2%** | **Mining — 1.2%** |
| &nbsp;&nbsp;&nbsp;BHP Group, Ltd. (ASX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3334 | &nbsp;&nbsp;&nbsp;&nbsp; 84097 |
| &nbsp;&nbsp;&nbsp;BHP Group, Ltd. (LSE) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1684 | &nbsp;&nbsp;&nbsp;&nbsp; 42411 |
| &nbsp;&nbsp;&nbsp;Northern Star Resources, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8923 | &nbsp;&nbsp;&nbsp;&nbsp; 89284 |
| &nbsp;&nbsp;&nbsp;Southern Copper Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3216 | &nbsp;&nbsp;&nbsp;&nbsp; 302819 |
| &nbsp;&nbsp;&nbsp;United States Lime & Minerals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912 | &nbsp;&nbsp;&nbsp;&nbsp; 90817 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609428 |
| **Miscellaneous Manufacturing — 0.3%** | **Miscellaneous Manufacturing — 0.3%** | **Miscellaneous Manufacturing — 0.3%** |
| &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158 | &nbsp;&nbsp;&nbsp;&nbsp; 115640 |
| &nbsp;&nbsp;&nbsp;Smiths Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383 | &nbsp;&nbsp;&nbsp;&nbsp; 11897 |
| &nbsp;&nbsp;&nbsp;Textron, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp; 5833 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133370 |
| **Oil & Gas — 1.4%** | **Oil & Gas — 1.4%** | **Oil & Gas — 1.4%** |
| &nbsp;&nbsp;&nbsp;Antero Resources Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1948 | &nbsp;&nbsp;&nbsp;&nbsp; 68044 |
| &nbsp;&nbsp;&nbsp;BP PLC ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp; 9002 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831 | &nbsp;&nbsp;&nbsp;&nbsp; 79227 |
| &nbsp;&nbsp;&nbsp;ENEOS Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70300 | &nbsp;&nbsp;&nbsp;&nbsp; 369961 |
| &nbsp;&nbsp;&nbsp;Magnolia Oil & Gas Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4034 | &nbsp;&nbsp;&nbsp;&nbsp; 96090 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp; 76585 |
| &nbsp;&nbsp;&nbsp;Ovintiv, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670 | &nbsp;&nbsp;&nbsp;&nbsp; 27591 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;726500 |
| **Oil & Gas Services — 0.2%** | **Oil & Gas Services — 0.2%** | **Oil & Gas Services — 0.2%** |
| &nbsp;&nbsp;&nbsp;TechnipFMC PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2666 | &nbsp;&nbsp;&nbsp;&nbsp; 96962 |
| **Pharmaceuticals — 2.7%** | **Pharmaceuticals — 2.7%** | **Pharmaceuticals — 2.7%** |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536 | &nbsp;&nbsp;&nbsp;&nbsp; 101315 |
| &nbsp;&nbsp;&nbsp;AstraZeneca PLC ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2548 | &nbsp;&nbsp;&nbsp;&nbsp; 186233 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1894 | &nbsp;&nbsp;&nbsp;&nbsp; 117617 |
| &nbsp;&nbsp;&nbsp;GSK PLC ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3425 | &nbsp;&nbsp;&nbsp;&nbsp; 127239 |
| &nbsp;&nbsp;&nbsp;Novartis AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1180 | &nbsp;&nbsp;&nbsp;&nbsp; 136835 |
| &nbsp;&nbsp;&nbsp;Novo Nordisk A/S, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3276 | &nbsp;&nbsp;&nbsp;&nbsp; 157520 |
| &nbsp;&nbsp;&nbsp;Pfizer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2281 | &nbsp;&nbsp;&nbsp;&nbsp; 53125 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| &nbsp;&nbsp;&nbsp;Takeda Pharmaceutical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3800 | &nbsp;&nbsp;$105836 |
| &nbsp;&nbsp;&nbsp;Zoetis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2518 | &nbsp;&nbsp;&nbsp;&nbsp; 367099 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1352819 |
| **Pipelines — 0.1%** | **Pipelines — 0.1%** | **Pipelines — 0.1%** |
| &nbsp;&nbsp;&nbsp;Excelerate Energy, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672 | &nbsp;&nbsp;&nbsp;&nbsp; 17243 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431 | &nbsp;&nbsp;&nbsp;&nbsp; 12094 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29337 |
| **Real Estate — 0.0%** | **Real Estate — 0.0%** | **Real Estate — 0.0%** |
| &nbsp;&nbsp;&nbsp;Swire Pacific, Ltd., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12500 | &nbsp;&nbsp;&nbsp;&nbsp; 19682 |
| **REITS — 2.2%** | **REITS — 2.2%** | **REITS — 2.2%** |
| &nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp; 141331 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852 | &nbsp;&nbsp;&nbsp;&nbsp; 114475 |
| &nbsp;&nbsp;&nbsp;Iron Mountain, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126 | &nbsp;&nbsp;&nbsp;&nbsp; 12267 |
| &nbsp;&nbsp;&nbsp;Lamar Advertising Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp; 4279 |
| &nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1143 | &nbsp;&nbsp;&nbsp;&nbsp; 122049 |
| &nbsp;&nbsp;&nbsp;Public Storage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1286 | &nbsp;&nbsp;&nbsp;&nbsp; 349715 |
| &nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132 | &nbsp;&nbsp;&nbsp;&nbsp; 21620 |
| &nbsp;&nbsp;&nbsp;Welltower, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1948 | &nbsp;&nbsp;&nbsp;&nbsp; 321556 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1087292 |
| **Retail — 1.4%** | **Retail — 1.4%** | **Retail — 1.4%** |
| &nbsp;&nbsp;&nbsp;Brinker International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp; 12766 |
| &nbsp;&nbsp;&nbsp;Carvana Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92 | &nbsp;&nbsp;&nbsp;&nbsp; 35896 |
| &nbsp;&nbsp;&nbsp;Cie Financiere Richemont SA, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223 | &nbsp;&nbsp;&nbsp;&nbsp; 36624 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp; 89266 |
| &nbsp;&nbsp;&nbsp;Darden Restaurants, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp; 9680 |
| &nbsp;&nbsp;&nbsp;Gap, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736 | &nbsp;&nbsp;&nbsp;&nbsp; 14323 |
| &nbsp;&nbsp;&nbsp;Home Depot, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634 | &nbsp;&nbsp;&nbsp;&nbsp; 233001 |
| &nbsp;&nbsp;&nbsp;Isetan Mitsukoshi Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp; 17153 |
| &nbsp;&nbsp;&nbsp;Movado Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646 | &nbsp;&nbsp;&nbsp;&nbsp; 10019 |
| &nbsp;&nbsp;&nbsp;Next PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118 | &nbsp;&nbsp;&nbsp;&nbsp; 19184 |
| &nbsp;&nbsp;&nbsp;Nojima Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 34466 |
| &nbsp;&nbsp;&nbsp;Tsuruha Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp; 66336 |
| &nbsp;&nbsp;&nbsp;Warby Parker, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4155 | &nbsp;&nbsp;&nbsp;&nbsp; 99512 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678226 |
| **Semiconductors — 6.1%** | **Semiconductors — 6.1%** | **Semiconductors — 6.1%** |
| &nbsp;&nbsp;&nbsp;ASM International NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp; 6342 |
| &nbsp;&nbsp;&nbsp;ASML Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284 | &nbsp;&nbsp;&nbsp;&nbsp; 198706 |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1890 | &nbsp;&nbsp;&nbsp;&nbsp; 555093 |
| &nbsp;&nbsp;&nbsp;Daitron Co, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp; 34350 |
| &nbsp;&nbsp;&nbsp;Infineon Technologies AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3464 | &nbsp;&nbsp;&nbsp;&nbsp; 136916 |
| &nbsp;&nbsp;&nbsp;Inter Action Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp; 7162 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8927 | &nbsp;&nbsp;&nbsp;&nbsp; 1587846 |
| &nbsp;&nbsp;&nbsp;QUALCOMM, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767 | &nbsp;&nbsp;&nbsp;&nbsp; 112565 |
| &nbsp;&nbsp;&nbsp;SiTime Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp;&nbsp;&nbsp; 13794 |
| &nbsp;&nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1983 | &nbsp;&nbsp;&nbsp;&nbsp; 359042 |
| &nbsp;&nbsp;&nbsp;Tokyo Electron, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 72493 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3084309 |
| **Shipbuilding — 0.3%** | **Shipbuilding — 0.3%** | **Shipbuilding — 0.3%** |
| &nbsp;&nbsp;&nbsp;Kongsberg Gruppen ASA (OSEAX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3157 | &nbsp;&nbsp;&nbsp;&nbsp; 94584 |
| &nbsp;&nbsp;&nbsp;Yangzijiang Shipbuilding Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26900 | &nbsp;&nbsp;&nbsp;&nbsp; 53038 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147622 |
| **Software — 4.7%** | **Software — 4.7%** | **Software — 4.7%** |
| &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp;&nbsp;&nbsp; 11633 |
| &nbsp;&nbsp;&nbsp;Clearwater Analytics Holdings, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3814 | &nbsp;&nbsp;&nbsp;&nbsp; 77272 |
| &nbsp;&nbsp;&nbsp;Cloudflare, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127 | &nbsp;&nbsp;&nbsp;&nbsp; 26375 |
| &nbsp;&nbsp;&nbsp;Commvault Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681 | &nbsp;&nbsp;&nbsp;&nbsp; 129356 |
| &nbsp;&nbsp;&nbsp;Computer Engineering & Consulting, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4100 | &nbsp;&nbsp;&nbsp;&nbsp; 60875 |
| &nbsp;&nbsp;&nbsp;Craneware PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796 | &nbsp;&nbsp;&nbsp;&nbsp; 23337 |

---

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Goldman Sachs Multi-Asset Insights Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

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| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp;DocuSign, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 | &nbsp;&nbsp;$6202 |
| &nbsp;&nbsp;&nbsp;Doximity, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp; 7050 |
| &nbsp;&nbsp;&nbsp;Fair Isaac Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp; 14367 |
| &nbsp;&nbsp;&nbsp;Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp;&nbsp;&nbsp; 86364 |
| &nbsp;&nbsp;&nbsp;IonQ, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562 | &nbsp;&nbsp;&nbsp;&nbsp; 22407 |
| &nbsp;&nbsp;&nbsp;Manhattan Associates, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp; 5492 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2205 | &nbsp;&nbsp;&nbsp;&nbsp; 1176368 |
| &nbsp;&nbsp;&nbsp;MicroStrategy, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp;&nbsp;&nbsp; 16476 |
| &nbsp;&nbsp;&nbsp;MongoDB, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272 | &nbsp;&nbsp;&nbsp;&nbsp; 64706 |
| &nbsp;&nbsp;&nbsp;MSCI, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 | &nbsp;&nbsp;&nbsp;&nbsp; 17964 |
| &nbsp;&nbsp;&nbsp;NSW, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 5162 |
| &nbsp;&nbsp;&nbsp;Nutanix, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp; 23303 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421 | &nbsp;&nbsp;&nbsp;&nbsp; 106837 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp; 87093 |
| &nbsp;&nbsp;&nbsp;Pro Medicus, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp; 98260 |
| &nbsp;&nbsp;&nbsp;RingCentral, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366 | &nbsp;&nbsp;&nbsp;&nbsp; 9329 |
| &nbsp;&nbsp;&nbsp;ServiceNow, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106 | &nbsp;&nbsp;&nbsp;&nbsp; 99971 |
| &nbsp;&nbsp;&nbsp;Waystar Holding Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3590 | &nbsp;&nbsp;&nbsp;&nbsp; 132758 |
| &nbsp;&nbsp;&nbsp;Workday, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287 | &nbsp;&nbsp;&nbsp;&nbsp; 65832 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2374789 |
| **Telecommunications — 2.0%** | **Telecommunications — 2.0%** | **Telecommunications — 2.0%** |
| &nbsp;&nbsp;&nbsp;Arista Networks, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1882 | &nbsp;&nbsp;&nbsp;&nbsp; 231900 |
| &nbsp;&nbsp;&nbsp;KDDI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;&nbsp; 120319 |
| &nbsp;&nbsp;&nbsp;Nokia Oyj | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15659 | &nbsp;&nbsp;&nbsp;&nbsp; 64118 |
| &nbsp;&nbsp;&nbsp;Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22671 | &nbsp;&nbsp;&nbsp;&nbsp; 165217 |
| &nbsp;&nbsp;&nbsp;T-Mobile US, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp;&nbsp;&nbsp; 94172 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7262 | &nbsp;&nbsp;&nbsp;&nbsp; 310523 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;986249 |
| **Transportation — 0.4%** | **Transportation — 0.4%** | **Transportation — 0.4%** |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;&nbsp; 174216 |
| **Total Common Stocks<br> (cost $31,312,799)** |  | &nbsp;&nbsp;&nbsp;&nbsp;35648593 |
| **UNAFFILIATED INVESTMENT COMPANIES — 2.3%** | **UNAFFILIATED INVESTMENT COMPANIES — 2.3%** | **UNAFFILIATED INVESTMENT COMPANIES — 2.3%** |
| &nbsp;&nbsp;&nbsp;iShares Global Infrastructure ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9503 | &nbsp;&nbsp;&nbsp;&nbsp; 561437 |

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| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;iShares U.S. Technology ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533 | &nbsp;&nbsp;$96638 |
| &nbsp;&nbsp;&nbsp;Vanguard Real Estate ETF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5653 | &nbsp;&nbsp;&nbsp;&nbsp; 503909 |
| **Total Unaffiliated Investment Companies<br> (cost $992,200)** |  | &nbsp;&nbsp;&nbsp;&nbsp;1161984 |
| **Total Long-Term Investment Securities<br> (cost $32,304,999)** |  | &nbsp;&nbsp;&nbsp;&nbsp;36810577 |
| **SHORT-TERM INVESTMENTS — 25.7%** | **SHORT-TERM INVESTMENTS — 25.7%** |  |
| **Unaffiliated Investment Companies — 25.7%** | **Unaffiliated Investment Companies — 25.7%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(1)<br> (cost $12,923,028) | 12923028 | &nbsp;&nbsp;&nbsp;&nbsp;12923028 |
| **TOTAL INVESTMENTS<br> (cost $45,228,027)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98.8% | &nbsp;&nbsp;&nbsp;&nbsp;49733605 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609844 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$50343449 |

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| | |
|:---|:---|
| † | &nbsp;&nbsp;Non-income producing security |
| \* | &nbsp;&nbsp;Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The SA Goldman Sachs Multi-Asset Insights Portfolio has no right to demand registration of these securities. At July 31, 2025, the aggregate value of these securities was $198,779 representing 0.4% of net assets. |
| (1) | &nbsp;&nbsp;The rate shown is the 7-day yield as of July 31, 2025. |
| (2) | &nbsp;&nbsp;See Note 4 for cost of investments on a tax basis. |

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---

| |
|:---|
| ADR—American Depositary Receipt |
| ASX—Australian Stock Exchange |
| ETF—Exchange Traded Fund |
| LSE—London Stock Exchange |
| NASDAQ—National Association of Securities Dealers Automated Quotations |
| NASDAQ Helsinki—NASDAQ Helsinki |
| OSEAX—Oslo Stock Exchange |

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** |
| **Counterparty (OTC)/<br> Centrally cleared** | **Reference<br> obligation** | &nbsp;&nbsp;**Implied<br> credit<br> spread(2)** | **Notional<br> amount(3)** | **Currency** | **USD<br> notional<br> amount(3)** | **Received<br> fixed<br> rate** | **Fixed<br> payment<br> frequency** | **Maturity<br> date** | **Upfront<br> payment paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value(4)** |
| Centrally Cleared | CDX Investment Grade Index Series 44 | &nbsp;&nbsp;0.51205% | 6430000 | USD | 6430000 | 1.000% | Quarterly | Jun 2030 | $120794 | $18244 | $139038 |

---

(1) If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of
protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the
swap less the recovery value of the referenced obligation.

(2) Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues or sovereign issues of an
emerging market country as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread
of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the
referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as "Defaulted"
indicates a credit event has occurred for the referenced entity or obligation.

(3) The maximum potential amount the Portfolio could be required to make as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined
under the terms of that particular swap agreement.

(4) The quoted market prices and resulting values for credit default swap agreements on asset-backed securities and credit indices serve as an indicator of the current
status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement have been closed/sold as of the
period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of
default or other credit event occurring as defined under the terms of the agreement.

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Goldman Sachs Multi-Asset Insights Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

#### Futures Contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number<br> of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Expiration<br> Month** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Basis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Value\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation** |
| &nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;MSCI Emerging Markets Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$538033 | &nbsp;&nbsp;&nbsp;&nbsp;$557234 | &nbsp;&nbsp;&nbsp;&nbsp;$19201 |
| 136 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury 10 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14985576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15104500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118924 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$138125 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
| 1 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;Euro STOXX 50 Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$60948 | &nbsp;&nbsp;&nbsp;&nbsp;$60940 | &nbsp;&nbsp;&nbsp;&nbsp;$(8) |
|  |  | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) |  | &nbsp;&nbsp;&nbsp;&nbsp;$138117 |

---

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

\* Calculated as a percentage of net assets

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$35648593 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$35648593 |
| Unaffiliated Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;1161984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1161984 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;12923028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;12923028 |
| **Total Investments at Value** | &nbsp;&nbsp;$49733605 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$49733605 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Swaps | &nbsp;&nbsp;$— | &nbsp;&nbsp;$18244 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$18244 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138125 |
| **Total Other Financial Instruments** | &nbsp;&nbsp;$138125 | &nbsp;&nbsp;$18244 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$156369 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;$8 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$8 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | &nbsp;&nbsp;Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Index Allocation 60/40 Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **AFFILIATED INVESTMENT COMPANIES#(1) — 100.0%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 100.0%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 100.0%** |
| **Domestic Equity Investment Companies — 52.2%** | **Domestic Equity Investment Companies — 52.2%** | **Domestic Equity Investment Companies — 52.2%** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Large Cap Index Portfolio, Class 1 | 2706509 | &nbsp;&nbsp;$115730325 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Mid Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;963196 | &nbsp;&nbsp;&nbsp;&nbsp; 15083645 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Small Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;909156 | &nbsp;&nbsp;&nbsp;&nbsp; 11946317 |
| **Total Domestic Equity Investment Companies<br> (cost $106,848,591)** |  | &nbsp;&nbsp;&nbsp;&nbsp;142760287 |
| **Domestic Fixed Income Investment Companies — 37.6%** | **Domestic Fixed Income Investment Companies — 37.6%** | **Domestic Fixed Income Investment Companies — 37.6%** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Fixed Income Index Portfolio, Class 1 | 5230713 | &nbsp;&nbsp;&nbsp;&nbsp; 50476377 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio, Class 1 | 5087065 | &nbsp;&nbsp;&nbsp;&nbsp; 52193286 |
| **Total Domestic Fixed Income Investment Companies<br> (cost $106,400,678)** |  | &nbsp;&nbsp;&nbsp;&nbsp;102669663 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **International Equity Investment Companies — 10.2%** | **International Equity Investment Companies — 10.2%** |  |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA International Index Portfolio, Class 1<br> (cost $22,135,733) | 1853031 | &nbsp;&nbsp;$27980768 |
| **TOTAL INVESTMENTS<br> (cost $235,385,002)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;&nbsp;&nbsp;273410718 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.0) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(118147) |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$273292571 |

---

# The SunAmerica Series Trust SA Index Allocation 60/40 Portfolio invests in Class 1 shares of the underlying Portfolios, which are Portfolios of SunAmerica Series Trust. Additional information on the underlying Portfolios, including such portfolios' prospectuses and shareholder reports are available on our website, www.corebridgefinancial.com/getprospectus

(1) See Note 8.

(2) See Note 4 for cost of investments on a tax basis.

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Affiliated Investment Companies | &nbsp;&nbsp;$273410718 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$273410718 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Index Allocation 80/20 Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **AFFILIATED INVESTMENT COMPANIES#(1) — 100.0%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 100.0%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 100.0%** |
| **Domestic Equity Investment Companies — 67.5%** | **Domestic Equity Investment Companies — 67.5%** | **Domestic Equity Investment Companies — 67.5%** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Large Cap Index Portfolio, Class 1 | 6555450 | &nbsp;&nbsp;$280311037 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Mid Cap Index Portfolio, Class 1 | 3424402 | &nbsp;&nbsp;&nbsp;&nbsp; 53626138 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Small Cap Index Portfolio, Class 1 | 1749786 | &nbsp;&nbsp;&nbsp;&nbsp; 22992194 |
| **Total Domestic Equity Investment Companies<br> (cost $259,319,688)** |  | &nbsp;&nbsp;&nbsp;&nbsp;356929369 |
| **Domestic Fixed Income Investment Companies — 17.5%** | **Domestic Fixed Income Investment Companies — 17.5%** | **Domestic Fixed Income Investment Companies — 17.5%** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Fixed Income Index Portfolio, Class 1 | 4717936 | &nbsp;&nbsp;&nbsp;&nbsp; 45528079 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio, Class 1 | 4575378 | &nbsp;&nbsp;&nbsp;&nbsp; 46943377 |
| **Total Domestic Fixed Income Investment Companies<br> (cost $95,603,886)** |  | &nbsp;&nbsp;&nbsp;&nbsp;92471456 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **International Equity Investment Companies — 15.0%** | **International Equity Investment Companies — 15.0%** |  |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA International Index Portfolio, Class 1<br> (cost $62,912,311) | 5270855 | &nbsp;&nbsp;$79589913 |
| **TOTAL INVESTMENTS<br> (cost $417,835,885)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;&nbsp;&nbsp;528990738 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.0) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(199176) |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$528791562 |

---

# The SunAmerica Series Trust SA Index Allocation 80/20 Portfolio invests in Class 1 shares of the underlying Portfolios, which are Portfolios of SunAmerica Series Trust. Additional information on the underlying Portfolios, including such portfolios' prospectuses and shareholder reports are available on our website, www.corebridgefinancial.com/getprospectus

(1) See Note 8.

(2) See Note 4 for cost of investments on a tax basis.

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Affiliated Investment Companies | &nbsp;&nbsp;$528990738 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$528990738 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Index Allocation 90/10 Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **AFFILIATED INVESTMENT COMPANIES#(1) — 100.0%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 100.0%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 100.0%** |
| **Domestic Equity Investment Companies — 72.3%** | **Domestic Equity Investment Companies — 72.3%** | **Domestic Equity Investment Companies — 72.3%** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Large Cap Index Portfolio, Class 1 | 20148179 | &nbsp;&nbsp;$861536141 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Mid Cap Index Portfolio, Class 1 | 9517062 | &nbsp;&nbsp;&nbsp;&nbsp; 149037192 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Small Cap Index Portfolio, Class 1 | 5009613 | &nbsp;&nbsp;&nbsp;&nbsp; 65826313 |
| **Total Domestic Equity Investment Companies<br> (cost $767,777,037)** |  | &nbsp;&nbsp;&nbsp;&nbsp;1076399646 |
| **International Equity Investment Companies — 19.7%** | **International Equity Investment Companies — 19.7%** | **International Equity Investment Companies — 19.7%** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA International Index Portfolio, Class 1<br> (cost $230,755,715) | 19457237 | &nbsp;&nbsp;&nbsp;&nbsp; 293804284 |
| **Domestic Fixed Income Investment Companies — 8.0%** | **Domestic Fixed Income Investment Companies — 8.0%** | **Domestic Fixed Income Investment Companies — 8.0%** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Fixed Income Index Portfolio, Class 1 | 6135152 | &nbsp;&nbsp;&nbsp;&nbsp; 59204212 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Domestic Fixed Income Investment Companies (continued)** | **Domestic Fixed Income Investment Companies (continued)** |  |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio, Class 1 | 5890806 | &nbsp;&nbsp;$60439674 |
| **Total Domestic Fixed Income Investment Companies<br> (cost $122,607,080)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119643886 |
| **TOTAL INVESTMENTS<br> (cost $1,121,139,832)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;&nbsp;&nbsp;1489847816 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.0) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(502182) |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$1489345634 |

---

# The SunAmerica Series Trust SA Index Allocation 90/10 Portfolio invests in Class 1 shares of the underlying Portfolios, which are Portfolios of SunAmerica Series Trust. Additional information on the underlying Portfolios, including such portfolios' prospectuses and shareholder reports are available on our website, www.corebridgefinancial.com/getprospectus

(1) See Note 8.

(2) See Note 4 for cost of investments on a tax basis.

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Affiliated Investment Companies | &nbsp;&nbsp;$1489847816 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1489847816 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA International Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.3%** | **COMMON STOCKS — 99.3%** | **COMMON STOCKS — 99.3%** |
| **Australia — 6.8%** | **Australia — 6.8%** | **Australia — 6.8%** |
| &nbsp;&nbsp;&nbsp;ANZ Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;154220 | &nbsp;&nbsp;$3044643 |
| &nbsp;&nbsp;&nbsp;APA Group | &nbsp;&nbsp;&nbsp;&nbsp;67705 | &nbsp;&nbsp;&nbsp;&nbsp; 365054 |
| &nbsp;&nbsp;&nbsp;Aristocrat Leisure, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;29218 | &nbsp;&nbsp;&nbsp;&nbsp; 1315137 |
| &nbsp;&nbsp;&nbsp;ASX, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;10085 | &nbsp;&nbsp;&nbsp;&nbsp; 454003 |
| &nbsp;&nbsp;&nbsp;BHP Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;263454 | &nbsp;&nbsp;&nbsp;&nbsp; 6645367 |
| &nbsp;&nbsp;&nbsp;BlueScope Steel, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;22908 | &nbsp;&nbsp;&nbsp;&nbsp; 349938 |
| &nbsp;&nbsp;&nbsp;Brambles, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;71248 | &nbsp;&nbsp;&nbsp;&nbsp; 1094780 |
| &nbsp;&nbsp;&nbsp;CAR Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;19656 | &nbsp;&nbsp;&nbsp;&nbsp; 482287 |
| &nbsp;&nbsp;&nbsp;Cochlear, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3394 | &nbsp;&nbsp;&nbsp;&nbsp; 694741 |
| &nbsp;&nbsp;&nbsp;Coles Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;69616 | &nbsp;&nbsp;&nbsp;&nbsp; 927881 |
| &nbsp;&nbsp;&nbsp;Commonwealth Bank of Australia | &nbsp;&nbsp;&nbsp;&nbsp;86856 | &nbsp;&nbsp;&nbsp;&nbsp; 9930582 |
| &nbsp;&nbsp;&nbsp;Computershare, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;27307 | &nbsp;&nbsp;&nbsp;&nbsp; 739684 |
| &nbsp;&nbsp;&nbsp;CSL, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;25132 | &nbsp;&nbsp;&nbsp;&nbsp; 4375327 |
| &nbsp;&nbsp;&nbsp;Evolution Mining, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;104207 | &nbsp;&nbsp;&nbsp;&nbsp; 476147 |
| &nbsp;&nbsp;&nbsp;Fortescue, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;87892 | &nbsp;&nbsp;&nbsp;&nbsp; 1003717 |
| &nbsp;&nbsp;&nbsp;Goodman Group | &nbsp;&nbsp;&nbsp;&nbsp;105421 | &nbsp;&nbsp;&nbsp;&nbsp; 2383403 |
| &nbsp;&nbsp;&nbsp;Insurance Australia Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;122763 | &nbsp;&nbsp;&nbsp;&nbsp; 691897 |
| &nbsp;&nbsp;&nbsp;Lottery Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;116250 | &nbsp;&nbsp;&nbsp;&nbsp; 404918 |
| &nbsp;&nbsp;&nbsp;Macquarie Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;18793 | &nbsp;&nbsp;&nbsp;&nbsp; 2625368 |
| &nbsp;&nbsp;&nbsp;Medibank Private, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;142938 | &nbsp;&nbsp;&nbsp;&nbsp; 468481 |
| &nbsp;&nbsp;&nbsp;National Australia Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;158951 | &nbsp;&nbsp;&nbsp;&nbsp; 3974651 |
| &nbsp;&nbsp;&nbsp;Northern Star Resources, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;70490 | &nbsp;&nbsp;&nbsp;&nbsp; 705327 |
| &nbsp;&nbsp;&nbsp;Origin Energy, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;89414 | &nbsp;&nbsp;&nbsp;&nbsp; 670580 |
| &nbsp;&nbsp;&nbsp;Pro Medicus, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2982 | &nbsp;&nbsp;&nbsp;&nbsp; 616864 |
| &nbsp;&nbsp;&nbsp;Qantas Airways, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;38726 | &nbsp;&nbsp;&nbsp;&nbsp; 270525 |
| &nbsp;&nbsp;&nbsp;QBE Insurance Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;78373 | &nbsp;&nbsp;&nbsp;&nbsp; 1168501 |
| &nbsp;&nbsp;&nbsp;REA Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2760 | &nbsp;&nbsp;&nbsp;&nbsp; 424769 |
| &nbsp;&nbsp;&nbsp;Reece, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;11809 | &nbsp;&nbsp;&nbsp;&nbsp; 103211 |
| &nbsp;&nbsp;&nbsp;Rio Tinto, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;19319 | &nbsp;&nbsp;&nbsp;&nbsp; 1386795 |
| &nbsp;&nbsp;&nbsp;Santos, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;168566 | &nbsp;&nbsp;&nbsp;&nbsp; 852549 |
| &nbsp;&nbsp;&nbsp;Scentre Group | &nbsp;&nbsp;&nbsp;&nbsp;270340 | &nbsp;&nbsp;&nbsp;&nbsp; 651503 |
| &nbsp;&nbsp;&nbsp;SGH, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;10570 | &nbsp;&nbsp;&nbsp;&nbsp; 348199 |
| &nbsp;&nbsp;&nbsp;Sigma Healthcare, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;239656 | &nbsp;&nbsp;&nbsp;&nbsp; 445103 |
| &nbsp;&nbsp;&nbsp;Sonic Healthcare, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;23836 | &nbsp;&nbsp;&nbsp;&nbsp; 422936 |
| &nbsp;&nbsp;&nbsp;South32, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;234220 | &nbsp;&nbsp;&nbsp;&nbsp; 442533 |
| &nbsp;&nbsp;&nbsp;Stockland | &nbsp;&nbsp;&nbsp;&nbsp;124890 | &nbsp;&nbsp;&nbsp;&nbsp; 445446 |
| &nbsp;&nbsp;&nbsp;Suncorp Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;56208 | &nbsp;&nbsp;&nbsp;&nbsp; 757119 |
| &nbsp;&nbsp;&nbsp;Telstra Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;208951 | &nbsp;&nbsp;&nbsp;&nbsp; 667383 |
| &nbsp;&nbsp;&nbsp;Transurban Group | &nbsp;&nbsp;&nbsp;&nbsp;161765 | &nbsp;&nbsp;&nbsp;&nbsp; 1436703 |
| &nbsp;&nbsp;&nbsp;Vicinity, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;202097 | &nbsp;&nbsp;&nbsp;&nbsp; 320798 |
| &nbsp;&nbsp;&nbsp;Washington H. Soul Pattinson & Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;12484 | &nbsp;&nbsp;&nbsp;&nbsp; 325567 |
| &nbsp;&nbsp;&nbsp;Wesfarmers, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;58897 | &nbsp;&nbsp;&nbsp;&nbsp; 3245651 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | &nbsp;&nbsp;&nbsp;&nbsp;177671 | &nbsp;&nbsp;&nbsp;&nbsp; 3861577 |
| &nbsp;&nbsp;&nbsp;WiseTech Global, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;10419 | &nbsp;&nbsp;&nbsp;&nbsp; 799341 |
| &nbsp;&nbsp;&nbsp;Woodside Energy Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;98814 | &nbsp;&nbsp;&nbsp;&nbsp; 1688540 |
| &nbsp;&nbsp;&nbsp;Woolworths Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;63403 | &nbsp;&nbsp;&nbsp;&nbsp; 1283904 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;65789430 |
| **Austria — 0.2%** | **Austria — 0.2%** | **Austria — 0.2%** |
| &nbsp;&nbsp;&nbsp;Erste Group Bank AG | &nbsp;&nbsp;&nbsp;&nbsp;15980 | &nbsp;&nbsp;&nbsp;&nbsp; 1468939 |
| &nbsp;&nbsp;&nbsp;OMV AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7692 | &nbsp;&nbsp;&nbsp;&nbsp; 392206 |
| &nbsp;&nbsp;&nbsp;Verbund AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3556 | &nbsp;&nbsp;&nbsp;&nbsp; 265197 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2126342 |
| **Belgium — 0.8%** | **Belgium — 0.8%** | **Belgium — 0.8%** |
| &nbsp;&nbsp;&nbsp;Ageas SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7765 | &nbsp;&nbsp;&nbsp;&nbsp; 529469 |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev SA NV | &nbsp;&nbsp;&nbsp;&nbsp;51303 | &nbsp;&nbsp;&nbsp;&nbsp; 3009314 |
| &nbsp;&nbsp;&nbsp;D'ieteren Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1122 | &nbsp;&nbsp;&nbsp;&nbsp; 222538 |
| &nbsp;&nbsp;&nbsp;Elia Group SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2547 | &nbsp;&nbsp;&nbsp;&nbsp; 294151 |
| &nbsp;&nbsp;&nbsp;Groupe Bruxelles Lambert NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4337 | &nbsp;&nbsp;&nbsp;&nbsp; 364275 |
| &nbsp;&nbsp;&nbsp;KBC Group NV | &nbsp;&nbsp;&nbsp;&nbsp;11919 | &nbsp;&nbsp;&nbsp;&nbsp; 1248116 |
| &nbsp;&nbsp;&nbsp;Lotus Bakeries NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;&nbsp;&nbsp; 186792 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Belgium (continued)** | **Belgium (continued)** | **Belgium (continued)** |
| &nbsp;&nbsp;&nbsp;Sofina SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805 | &nbsp;&nbsp;$247672 |
| &nbsp;&nbsp;&nbsp;Syensqo SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3847 | &nbsp;&nbsp;&nbsp;&nbsp; 307138 |
| &nbsp;&nbsp;&nbsp;UCB SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6562 | &nbsp;&nbsp;&nbsp;&nbsp; 1426194 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7835659 |
| **Bermuda — 0.2%** | **Bermuda — 0.2%** | **Bermuda — 0.2%** |
| &nbsp;&nbsp;&nbsp;Aegon, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;69059 | &nbsp;&nbsp;&nbsp;&nbsp; 495243 |
| &nbsp;&nbsp;&nbsp;CK Infrastructure Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;33000 | &nbsp;&nbsp;&nbsp;&nbsp; 232681 |
| &nbsp;&nbsp;&nbsp;Hongkong Land Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;57600 | &nbsp;&nbsp;&nbsp;&nbsp; 348480 |
| &nbsp;&nbsp;&nbsp;Jardine Matheson Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp; 458052 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1534456 |
| **Denmark — 1.9%** | **Denmark — 1.9%** | **Denmark — 1.9%** |
| &nbsp;&nbsp;&nbsp;AP Moller-Maersk A/S, Series A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153 | &nbsp;&nbsp;&nbsp;&nbsp; 301287 |
| &nbsp;&nbsp;&nbsp;AP Moller-Maersk A/S, Series B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221 | &nbsp;&nbsp;&nbsp;&nbsp; 439077 |
| &nbsp;&nbsp;&nbsp;Carlsberg A/S, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4972 | &nbsp;&nbsp;&nbsp;&nbsp; 622113 |
| &nbsp;&nbsp;&nbsp;Coloplast A/S, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6546 | &nbsp;&nbsp;&nbsp;&nbsp; 603884 |
| &nbsp;&nbsp;&nbsp;Danske Bank A/S | &nbsp;&nbsp;&nbsp;&nbsp;35799 | &nbsp;&nbsp;&nbsp;&nbsp; 1425775 |
| &nbsp;&nbsp;&nbsp;Demant A/S† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4439 | &nbsp;&nbsp;&nbsp;&nbsp; 168988 |
| &nbsp;&nbsp;&nbsp;DSV A/S | &nbsp;&nbsp;&nbsp;&nbsp;10608 | &nbsp;&nbsp;&nbsp;&nbsp; 2375174 |
| &nbsp;&nbsp;&nbsp;Genmab A/S† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3284 | &nbsp;&nbsp;&nbsp;&nbsp; 721744 |
| &nbsp;&nbsp;&nbsp;Novo Nordisk A/S, Class B | &nbsp;&nbsp;&nbsp;&nbsp;167157 | &nbsp;&nbsp;&nbsp;&nbsp; 8037439 |
| &nbsp;&nbsp;&nbsp;Novonesis (Novozymes), Class B | &nbsp;&nbsp;&nbsp;&nbsp;18289 | &nbsp;&nbsp;&nbsp;&nbsp; 1190606 |
| &nbsp;&nbsp;&nbsp;Orsted A/S\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8782 | &nbsp;&nbsp;&nbsp;&nbsp; 413942 |
| &nbsp;&nbsp;&nbsp;Pandora A/S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4256 | &nbsp;&nbsp;&nbsp;&nbsp; 706324 |
| &nbsp;&nbsp;&nbsp;ROCKWOOL A/S, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4911 | &nbsp;&nbsp;&nbsp;&nbsp; 215038 |
| &nbsp;&nbsp;&nbsp;Tryg A/S | &nbsp;&nbsp;&nbsp;&nbsp;17706 | &nbsp;&nbsp;&nbsp;&nbsp; 427440 |
| &nbsp;&nbsp;&nbsp;Vestas Wind Systems A/S | &nbsp;&nbsp;&nbsp;&nbsp;52555 | &nbsp;&nbsp;&nbsp;&nbsp; 964201 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;18613032 |
| **Finland — 1.0%** | **Finland — 1.0%** | **Finland — 1.0%** |
| &nbsp;&nbsp;&nbsp;Elisa Oyj | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7429 | &nbsp;&nbsp;&nbsp;&nbsp; 382865 |
| &nbsp;&nbsp;&nbsp;Fortum Oyj | &nbsp;&nbsp;&nbsp;&nbsp;23432 | &nbsp;&nbsp;&nbsp;&nbsp; 430256 |
| &nbsp;&nbsp;&nbsp;Kesko Oyj, Class B | &nbsp;&nbsp;&nbsp;&nbsp;14265 | &nbsp;&nbsp;&nbsp;&nbsp; 310607 |
| &nbsp;&nbsp;&nbsp;Kone Oyj, Class B | &nbsp;&nbsp;&nbsp;&nbsp;17641 | &nbsp;&nbsp;&nbsp;&nbsp; 1085915 |
| &nbsp;&nbsp;&nbsp;Metso Oyj | &nbsp;&nbsp;&nbsp;&nbsp;32472 | &nbsp;&nbsp;&nbsp;&nbsp; 410036 |
| &nbsp;&nbsp;&nbsp;Neste Oyj | &nbsp;&nbsp;&nbsp;&nbsp;22096 | &nbsp;&nbsp;&nbsp;&nbsp; 348863 |
| &nbsp;&nbsp;&nbsp;Nokia Oyj | &nbsp;&nbsp;&nbsp;&nbsp;276407 | &nbsp;&nbsp;&nbsp;&nbsp; 1131783 |
| &nbsp;&nbsp;&nbsp;Nordea Bank Abp | &nbsp;&nbsp;&nbsp;&nbsp;163065 | &nbsp;&nbsp;&nbsp;&nbsp; 2381948 |
| &nbsp;&nbsp;&nbsp;Orion Oyj, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5661 | &nbsp;&nbsp;&nbsp;&nbsp; 454161 |
| &nbsp;&nbsp;&nbsp;Sampo Oyj, Class A | &nbsp;&nbsp;&nbsp;&nbsp;125666 | &nbsp;&nbsp;&nbsp;&nbsp; 1350348 |
| &nbsp;&nbsp;&nbsp;Stora Enso Oyj, Class R | &nbsp;&nbsp;&nbsp;&nbsp;30413 | &nbsp;&nbsp;&nbsp;&nbsp; 313546 |
| &nbsp;&nbsp;&nbsp;UPM-Kymmene Oyj | &nbsp;&nbsp;&nbsp;&nbsp;27702 | &nbsp;&nbsp;&nbsp;&nbsp; 719207 |
| &nbsp;&nbsp;&nbsp;Wartsila OYJ Abp | &nbsp;&nbsp;&nbsp;&nbsp;26175 | &nbsp;&nbsp;&nbsp;&nbsp; 724071 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10043606 |
| **France — 10.1%** | **France — 10.1%** | **France — 10.1%** |
| &nbsp;&nbsp;&nbsp;Accor SA | &nbsp;&nbsp;&nbsp;&nbsp;10181 | &nbsp;&nbsp;&nbsp;&nbsp; 518885 |
| &nbsp;&nbsp;&nbsp;Aeroports de Paris SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1809 | &nbsp;&nbsp;&nbsp;&nbsp; 219655 |
| &nbsp;&nbsp;&nbsp;Air Liquide SA | &nbsp;&nbsp;&nbsp;&nbsp;30021 | &nbsp;&nbsp;&nbsp;&nbsp; 5920119 |
| &nbsp;&nbsp;&nbsp;Alstom SA† | &nbsp;&nbsp;&nbsp;&nbsp;18078 | &nbsp;&nbsp;&nbsp;&nbsp; 425816 |
| &nbsp;&nbsp;&nbsp;Amundi SA\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3219 | &nbsp;&nbsp;&nbsp;&nbsp; 238963 |
| &nbsp;&nbsp;&nbsp;Arkema SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2979 | &nbsp;&nbsp;&nbsp;&nbsp; 203638 |
| &nbsp;&nbsp;&nbsp;AXA SA | &nbsp;&nbsp;&nbsp;&nbsp;91962 | &nbsp;&nbsp;&nbsp;&nbsp; 4479137 |
| &nbsp;&nbsp;&nbsp;BioMerieux | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2164 | &nbsp;&nbsp;&nbsp;&nbsp; 310670 |
| &nbsp;&nbsp;&nbsp;BNP Paribas SA | &nbsp;&nbsp;&nbsp;&nbsp;52822 | &nbsp;&nbsp;&nbsp;&nbsp; 4826052 |
| &nbsp;&nbsp;&nbsp;Bollore SE | &nbsp;&nbsp;&nbsp;&nbsp;36731 | &nbsp;&nbsp;&nbsp;&nbsp; 212312 |
| &nbsp;&nbsp;&nbsp;Bouygues SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9834 | &nbsp;&nbsp;&nbsp;&nbsp; 405695 |
| &nbsp;&nbsp;&nbsp;Bureau Veritas SA | &nbsp;&nbsp;&nbsp;&nbsp;16490 | &nbsp;&nbsp;&nbsp;&nbsp; 508849 |
| &nbsp;&nbsp;&nbsp;Capgemini SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8449 | &nbsp;&nbsp;&nbsp;&nbsp; 1262137 |
| &nbsp;&nbsp;&nbsp;Carrefour SA | &nbsp;&nbsp;&nbsp;&nbsp;28226 | &nbsp;&nbsp;&nbsp;&nbsp; 404899 |
| &nbsp;&nbsp;&nbsp;Cie de Saint-Gobain SA | &nbsp;&nbsp;&nbsp;&nbsp;23312 | &nbsp;&nbsp;&nbsp;&nbsp; 2668345 |
| &nbsp;&nbsp;&nbsp;Cie Generale des Etablissements Michelin SCA | &nbsp;&nbsp;&nbsp;&nbsp;34798 | &nbsp;&nbsp;&nbsp;&nbsp; 1241380 |
| &nbsp;&nbsp;&nbsp;Covivio SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2915 | &nbsp;&nbsp;&nbsp;&nbsp; 189450 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA International Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **France (continued)** | **France (continued)** | **France (continued)** |
| &nbsp;&nbsp;&nbsp;Credit Agricole SA | &nbsp;&nbsp;&nbsp;&nbsp;54968 | &nbsp;&nbsp;$1013081 |
| &nbsp;&nbsp;&nbsp;Danone SA | &nbsp;&nbsp;&nbsp;&nbsp;33597 | &nbsp;&nbsp;&nbsp;&nbsp; 2755942 |
| &nbsp;&nbsp;&nbsp;Dassault Aviation SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1017 | &nbsp;&nbsp;&nbsp;&nbsp; 316147 |
| &nbsp;&nbsp;&nbsp;Dassault Systemes SE | &nbsp;&nbsp;&nbsp;&nbsp;34786 | &nbsp;&nbsp;&nbsp;&nbsp; 1146868 |
| &nbsp;&nbsp;&nbsp;Edenred SE | &nbsp;&nbsp;&nbsp;&nbsp;12536 | &nbsp;&nbsp;&nbsp;&nbsp; 359369 |
| &nbsp;&nbsp;&nbsp;Eiffage SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3570 | &nbsp;&nbsp;&nbsp;&nbsp; 479316 |
| &nbsp;&nbsp;&nbsp;Engie SA | &nbsp;&nbsp;&nbsp;&nbsp;94797 | &nbsp;&nbsp;&nbsp;&nbsp; 2122536 |
| &nbsp;&nbsp;&nbsp;EssilorLuxottica SA | &nbsp;&nbsp;&nbsp;&nbsp;15435 | &nbsp;&nbsp;&nbsp;&nbsp; 4590316 |
| &nbsp;&nbsp;&nbsp;Eurazeo SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2092 | &nbsp;&nbsp;&nbsp;&nbsp; 123309 |
| &nbsp;&nbsp;&nbsp;FDJ United | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5770 | &nbsp;&nbsp;&nbsp;&nbsp; 180290 |
| &nbsp;&nbsp;&nbsp;Gecina SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2405 | &nbsp;&nbsp;&nbsp;&nbsp; 236583 |
| &nbsp;&nbsp;&nbsp;Getlink SE | &nbsp;&nbsp;&nbsp;&nbsp;15799 | &nbsp;&nbsp;&nbsp;&nbsp; 286674 |
| &nbsp;&nbsp;&nbsp;Hermes International S.C.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1644 | &nbsp;&nbsp;&nbsp;&nbsp; 4035560 |
| &nbsp;&nbsp;&nbsp;Ipsen SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1970 | &nbsp;&nbsp;&nbsp;&nbsp; 233134 |
| &nbsp;&nbsp;&nbsp;Kering SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3864 | &nbsp;&nbsp;&nbsp;&nbsp; 954677 |
| &nbsp;&nbsp;&nbsp;Klepierre SA | &nbsp;&nbsp;&nbsp;&nbsp;11237 | &nbsp;&nbsp;&nbsp;&nbsp; 430362 |
| &nbsp;&nbsp;&nbsp;Legrand SA | &nbsp;&nbsp;&nbsp;&nbsp;13611 | &nbsp;&nbsp;&nbsp;&nbsp; 2018496 |
| &nbsp;&nbsp;&nbsp;L'Oreal SA | &nbsp;&nbsp;&nbsp;&nbsp;12479 | &nbsp;&nbsp;&nbsp;&nbsp; 5544744 |
| &nbsp;&nbsp;&nbsp;LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;&nbsp;&nbsp;14277 | &nbsp;&nbsp;&nbsp;&nbsp; 7695954 |
| &nbsp;&nbsp;&nbsp;Orange SA | &nbsp;&nbsp;&nbsp;&nbsp;96643 | &nbsp;&nbsp;&nbsp;&nbsp; 1471806 |
| &nbsp;&nbsp;&nbsp;Pernod Ricard SA | &nbsp;&nbsp;&nbsp;&nbsp;10475 | &nbsp;&nbsp;&nbsp;&nbsp; 1080169 |
| &nbsp;&nbsp;&nbsp;Publicis Groupe SA | &nbsp;&nbsp;&nbsp;&nbsp;11879 | &nbsp;&nbsp;&nbsp;&nbsp; 1087216 |
| &nbsp;&nbsp;&nbsp;Renault SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9977 | &nbsp;&nbsp;&nbsp;&nbsp; 372428 |
| &nbsp;&nbsp;&nbsp;Rexel SA | &nbsp;&nbsp;&nbsp;&nbsp;11609 | &nbsp;&nbsp;&nbsp;&nbsp; 352137 |
| &nbsp;&nbsp;&nbsp;Safran SA | &nbsp;&nbsp;&nbsp;&nbsp;18689 | &nbsp;&nbsp;&nbsp;&nbsp; 6174420 |
| &nbsp;&nbsp;&nbsp;Sanofi SA | &nbsp;&nbsp;&nbsp;&nbsp;57622 | &nbsp;&nbsp;&nbsp;&nbsp; 5184376 |
| &nbsp;&nbsp;&nbsp;Sartorius Stedim Biotech | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1525 | &nbsp;&nbsp;&nbsp;&nbsp; 306298 |
| &nbsp;&nbsp;&nbsp;Schneider Electric SE | &nbsp;&nbsp;&nbsp;&nbsp;28383 | &nbsp;&nbsp;&nbsp;&nbsp; 7393169 |
| &nbsp;&nbsp;&nbsp;Societe Generale SA | &nbsp;&nbsp;&nbsp;&nbsp;37384 | &nbsp;&nbsp;&nbsp;&nbsp; 2387399 |
| &nbsp;&nbsp;&nbsp;Sodexo SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4621 | &nbsp;&nbsp;&nbsp;&nbsp; 275803 |
| &nbsp;&nbsp;&nbsp;Teleperformance SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2814 | &nbsp;&nbsp;&nbsp;&nbsp; 275276 |
| &nbsp;&nbsp;&nbsp;Thales SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4823 | &nbsp;&nbsp;&nbsp;&nbsp; 1297844 |
| &nbsp;&nbsp;&nbsp;TotalEnergies SE | &nbsp;&nbsp;&nbsp;&nbsp;106038 | &nbsp;&nbsp;&nbsp;&nbsp; 6294967 |
| &nbsp;&nbsp;&nbsp;Veolia Environnement SA | &nbsp;&nbsp;&nbsp;&nbsp;32675 | &nbsp;&nbsp;&nbsp;&nbsp; 1107474 |
| &nbsp;&nbsp;&nbsp;Vinci SA | &nbsp;&nbsp;&nbsp;&nbsp;25694 | &nbsp;&nbsp;&nbsp;&nbsp; 3565553 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;97185695 |
| **Germany — 10.2%** | **Germany — 10.2%** | **Germany — 10.2%** |
| &nbsp;&nbsp;&nbsp;adidas AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8875 | &nbsp;&nbsp;&nbsp;&nbsp; 1702035 |
| &nbsp;&nbsp;&nbsp;Allianz SE | &nbsp;&nbsp;&nbsp;&nbsp;20043 | &nbsp;&nbsp;&nbsp;&nbsp; 7941527 |
| &nbsp;&nbsp;&nbsp;BASF SE | &nbsp;&nbsp;&nbsp;&nbsp;46324 | &nbsp;&nbsp;&nbsp;&nbsp; 2281650 |
| &nbsp;&nbsp;&nbsp;Bayer AG | &nbsp;&nbsp;&nbsp;&nbsp;50990 | &nbsp;&nbsp;&nbsp;&nbsp; 1591490 |
| &nbsp;&nbsp;&nbsp;Bayerische Motoren Werke AG | &nbsp;&nbsp;&nbsp;&nbsp;15087 | &nbsp;&nbsp;&nbsp;&nbsp; 1444185 |
| &nbsp;&nbsp;&nbsp;Bayerische Motoren Werke AG (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2923 | &nbsp;&nbsp;&nbsp;&nbsp; 257184 |
| &nbsp;&nbsp;&nbsp;Beiersdorf AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5149 | &nbsp;&nbsp;&nbsp;&nbsp; 640488 |
| &nbsp;&nbsp;&nbsp;Brenntag SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6370 | &nbsp;&nbsp;&nbsp;&nbsp; 396475 |
| &nbsp;&nbsp;&nbsp;Commerzbank AG | &nbsp;&nbsp;&nbsp;&nbsp;46115 | &nbsp;&nbsp;&nbsp;&nbsp; 1686150 |
| &nbsp;&nbsp;&nbsp;Continental AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5725 | &nbsp;&nbsp;&nbsp;&nbsp; 491309 |
| &nbsp;&nbsp;&nbsp;Covestro AG† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9319 | &nbsp;&nbsp;&nbsp;&nbsp; 631709 |
| &nbsp;&nbsp;&nbsp;CTS Eventim AG & Co. KGaA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3259 | &nbsp;&nbsp;&nbsp;&nbsp; 369128 |
| &nbsp;&nbsp;&nbsp;Daimler Truck Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;24660 | &nbsp;&nbsp;&nbsp;&nbsp; 1205321 |
| &nbsp;&nbsp;&nbsp;Delivery Hero SE\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9911 | &nbsp;&nbsp;&nbsp;&nbsp; 297351 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank AG | &nbsp;&nbsp;&nbsp;&nbsp;96062 | &nbsp;&nbsp;&nbsp;&nbsp; 3177507 |
| &nbsp;&nbsp;&nbsp;Deutsche Boerse AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9773 | &nbsp;&nbsp;&nbsp;&nbsp; 2833963 |
| &nbsp;&nbsp;&nbsp;Deutsche Lufthansa AG | &nbsp;&nbsp;&nbsp;&nbsp;31338 | &nbsp;&nbsp;&nbsp;&nbsp; 269795 |
| &nbsp;&nbsp;&nbsp;Deutsche Post AG | &nbsp;&nbsp;&nbsp;&nbsp;49826 | &nbsp;&nbsp;&nbsp;&nbsp; 2243182 |
| &nbsp;&nbsp;&nbsp;Deutsche Telekom AG | &nbsp;&nbsp;&nbsp;&nbsp;181165 | &nbsp;&nbsp;&nbsp;&nbsp; 6508345 |
| &nbsp;&nbsp;&nbsp;Dr. Ing. h.c. F. Porsche AG (Preference Shares)\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5948 | &nbsp;&nbsp;&nbsp;&nbsp; 303010 |
| &nbsp;&nbsp;&nbsp;E.ON SE | &nbsp;&nbsp;&nbsp;&nbsp;116526 | &nbsp;&nbsp;&nbsp;&nbsp; 2121686 |
| &nbsp;&nbsp;&nbsp;Evonik Industries AG | &nbsp;&nbsp;&nbsp;&nbsp;13386 | &nbsp;&nbsp;&nbsp;&nbsp; 266873 |
| &nbsp;&nbsp;&nbsp;Fresenius Medical Care AG | &nbsp;&nbsp;&nbsp;&nbsp;11422 | &nbsp;&nbsp;&nbsp;&nbsp; 579787 |
| &nbsp;&nbsp;&nbsp;Fresenius SE & Co. KGaA | &nbsp;&nbsp;&nbsp;&nbsp;21925 | &nbsp;&nbsp;&nbsp;&nbsp; 1050373 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| &nbsp;&nbsp;&nbsp;GEA Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7603 | &nbsp;&nbsp;$547490 |
| &nbsp;&nbsp;&nbsp;Hannover Rueck SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3130 | &nbsp;&nbsp;&nbsp;&nbsp; 951569 |
| &nbsp;&nbsp;&nbsp;Heidelberg Materials AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6964 | &nbsp;&nbsp;&nbsp;&nbsp; 1609331 |
| &nbsp;&nbsp;&nbsp;Henkel AG & Co. KGaA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5394 | &nbsp;&nbsp;&nbsp;&nbsp; 383496 |
| &nbsp;&nbsp;&nbsp;Henkel AG & Co. KGaA (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8785 | &nbsp;&nbsp;&nbsp;&nbsp; 677519 |
| &nbsp;&nbsp;&nbsp;Infineon Technologies AG | &nbsp;&nbsp;&nbsp;&nbsp;67780 | &nbsp;&nbsp;&nbsp;&nbsp; 2679035 |
| &nbsp;&nbsp;&nbsp;Knorr-Bremse AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3789 | &nbsp;&nbsp;&nbsp;&nbsp; 379864 |
| &nbsp;&nbsp;&nbsp;LEG Immobilien SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3889 | &nbsp;&nbsp;&nbsp;&nbsp; 309559 |
| &nbsp;&nbsp;&nbsp;Mercedes-Benz Group AG | &nbsp;&nbsp;&nbsp;&nbsp;37482 | &nbsp;&nbsp;&nbsp;&nbsp; 2142999 |
| &nbsp;&nbsp;&nbsp;Merck KGaA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6708 | &nbsp;&nbsp;&nbsp;&nbsp; 844365 |
| &nbsp;&nbsp;&nbsp;MTU Aero Engines AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2794 | &nbsp;&nbsp;&nbsp;&nbsp; 1205895 |
| &nbsp;&nbsp;&nbsp;Muenchener Rueckversicherungs-Gesellschaft AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6942 | &nbsp;&nbsp;&nbsp;&nbsp; 4560022 |
| &nbsp;&nbsp;&nbsp;Nemetschek SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3016 | &nbsp;&nbsp;&nbsp;&nbsp; 451228 |
| &nbsp;&nbsp;&nbsp;Porsche Automobil Holding SE (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7998 | &nbsp;&nbsp;&nbsp;&nbsp; 322468 |
| &nbsp;&nbsp;&nbsp;Rational AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267 | &nbsp;&nbsp;&nbsp;&nbsp; 207044 |
| &nbsp;&nbsp;&nbsp;Rheinmetall AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2320 | &nbsp;&nbsp;&nbsp;&nbsp; 4594880 |
| &nbsp;&nbsp;&nbsp;RWE AG | &nbsp;&nbsp;&nbsp;&nbsp;32816 | &nbsp;&nbsp;&nbsp;&nbsp; 1344815 |
| &nbsp;&nbsp;&nbsp;SAP SE | &nbsp;&nbsp;&nbsp;&nbsp;54197 | &nbsp;&nbsp;&nbsp;&nbsp; 15511877 |
| &nbsp;&nbsp;&nbsp;Sartorius AG (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1369 | &nbsp;&nbsp;&nbsp;&nbsp; 293010 |
| &nbsp;&nbsp;&nbsp;Scout24 SE\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3893 | &nbsp;&nbsp;&nbsp;&nbsp; 521572 |
| &nbsp;&nbsp;&nbsp;Siemens AG | &nbsp;&nbsp;&nbsp;&nbsp;39445 | &nbsp;&nbsp;&nbsp;&nbsp; 10123787 |
| &nbsp;&nbsp;&nbsp;Siemens Energy AG† | &nbsp;&nbsp;&nbsp;&nbsp;35263 | &nbsp;&nbsp;&nbsp;&nbsp; 4104696 |
| &nbsp;&nbsp;&nbsp;Siemens Healthineers AG\* | &nbsp;&nbsp;&nbsp;&nbsp;17564 | &nbsp;&nbsp;&nbsp;&nbsp; 948083 |
| &nbsp;&nbsp;&nbsp;Symrise AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6892 | &nbsp;&nbsp;&nbsp;&nbsp; 625279 |
| &nbsp;&nbsp;&nbsp;Talanx AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3372 | &nbsp;&nbsp;&nbsp;&nbsp; 448691 |
| &nbsp;&nbsp;&nbsp;Volkswagen AG (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;10702 | &nbsp;&nbsp;&nbsp;&nbsp; 1125072 |
| &nbsp;&nbsp;&nbsp;Vonovia SE | &nbsp;&nbsp;&nbsp;&nbsp;38437 | &nbsp;&nbsp;&nbsp;&nbsp; 1196618 |
| &nbsp;&nbsp;&nbsp;Zalando SE\*† | &nbsp;&nbsp;&nbsp;&nbsp;11652 | &nbsp;&nbsp;&nbsp;&nbsp; 342005 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;98742792 |
| **Hong Kong — 2.0%** | **Hong Kong — 2.0%** | **Hong Kong — 2.0%** |
| &nbsp;&nbsp;&nbsp;AIA Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;555000 | &nbsp;&nbsp;&nbsp;&nbsp; 5189427 |
| &nbsp;&nbsp;&nbsp;BOC Hong Kong Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;192000 | &nbsp;&nbsp;&nbsp;&nbsp; 863388 |
| &nbsp;&nbsp;&nbsp;CK Asset Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp; 459236 |
| &nbsp;&nbsp;&nbsp;CK Hutchison Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;139000 | &nbsp;&nbsp;&nbsp;&nbsp; 910140 |
| &nbsp;&nbsp;&nbsp;CLP Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp; 737930 |
| &nbsp;&nbsp;&nbsp;Futu Holdings, Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3198 | &nbsp;&nbsp;&nbsp;&nbsp; 491469 |
| &nbsp;&nbsp;&nbsp;Galaxy Entertainment Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;113000 | &nbsp;&nbsp;&nbsp;&nbsp; 552764 |
| &nbsp;&nbsp;&nbsp;Hang Seng Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;39100 | &nbsp;&nbsp;&nbsp;&nbsp; 570810 |
| &nbsp;&nbsp;&nbsp;Henderson Land Development Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;76000 | &nbsp;&nbsp;&nbsp;&nbsp; 266242 |
| &nbsp;&nbsp;&nbsp;HKT Trust & HKT, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;198000 | &nbsp;&nbsp;&nbsp;&nbsp; 311755 |
| &nbsp;&nbsp;&nbsp;Hong Kong & China Gas Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;583000 | &nbsp;&nbsp;&nbsp;&nbsp; 520615 |
| &nbsp;&nbsp;&nbsp;Hong Kong Exchanges & Clearing, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;61100 | &nbsp;&nbsp;&nbsp;&nbsp; 3323529 |
| &nbsp;&nbsp;&nbsp;Link REIT | &nbsp;&nbsp;&nbsp;&nbsp;135300 | &nbsp;&nbsp;&nbsp;&nbsp; 756646 |
| &nbsp;&nbsp;&nbsp;MTR Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;81500 | &nbsp;&nbsp;&nbsp;&nbsp; 293296 |
| &nbsp;&nbsp;&nbsp;Power Assets Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;72500 | &nbsp;&nbsp;&nbsp;&nbsp; 477484 |
| &nbsp;&nbsp;&nbsp;Sino Land Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;188000 | &nbsp;&nbsp;&nbsp;&nbsp; 216739 |
| &nbsp;&nbsp;&nbsp;SITC International Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp; 226943 |
| &nbsp;&nbsp;&nbsp;Sun Hung Kai Properties, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp; 893312 |
| &nbsp;&nbsp;&nbsp;Swire Pacific, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;18500 | &nbsp;&nbsp;&nbsp;&nbsp; 167443 |
| &nbsp;&nbsp;&nbsp;Techtronic Industries Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;76000 | &nbsp;&nbsp;&nbsp;&nbsp; 912968 |
| &nbsp;&nbsp;&nbsp;WH Group, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;435500 | &nbsp;&nbsp;&nbsp;&nbsp; 438829 |
| &nbsp;&nbsp;&nbsp;Wharf Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp; 156592 |
| &nbsp;&nbsp;&nbsp;Wharf Real Estate Investment Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;87000 | &nbsp;&nbsp;&nbsp;&nbsp; 276516 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;19014073 |
| **Ireland — 0.6%** | **Ireland — 0.6%** | **Ireland — 0.6%** |
| &nbsp;&nbsp;&nbsp;AIB Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;109058 | &nbsp;&nbsp;&nbsp;&nbsp; 864976 |
| &nbsp;&nbsp;&nbsp;Bank of Ireland Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;51129 | &nbsp;&nbsp;&nbsp;&nbsp; 688803 |
| &nbsp;&nbsp;&nbsp;DCC PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5169 | &nbsp;&nbsp;&nbsp;&nbsp; 324938 |
| &nbsp;&nbsp;&nbsp;James Hardie Industries PLC CDI† | &nbsp;&nbsp;&nbsp;&nbsp;30030 | &nbsp;&nbsp;&nbsp;&nbsp; 797233 |
| &nbsp;&nbsp;&nbsp;Kerry Group PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8590 | &nbsp;&nbsp;&nbsp;&nbsp; 795506 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA International Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Ireland (continued)** | **Ireland (continued)** | **Ireland (continued)** |
| &nbsp;&nbsp;&nbsp;Kingspan Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8030 | &nbsp;&nbsp;$665752 |
| &nbsp;&nbsp;&nbsp;Ryanair Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;44127 | &nbsp;&nbsp;&nbsp;&nbsp; 1304768 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5441976 |
| **Isle of Man — 0.0%** | **Isle of Man — 0.0%** | **Isle of Man — 0.0%** |
| &nbsp;&nbsp;&nbsp;Entain PLC | &nbsp;&nbsp;&nbsp;&nbsp;31721 | &nbsp;&nbsp;&nbsp;&nbsp; 428140 |
| **Israel — 0.9%** | **Israel — 0.9%** | **Israel — 0.9%** |
| &nbsp;&nbsp;&nbsp;Azrieli Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2217 | &nbsp;&nbsp;&nbsp;&nbsp; 218933 |
| &nbsp;&nbsp;&nbsp;Bank Hapoalim BM | &nbsp;&nbsp;&nbsp;&nbsp;65128 | &nbsp;&nbsp;&nbsp;&nbsp; 1226877 |
| &nbsp;&nbsp;&nbsp;Bank Leumi Le-Israel BM | &nbsp;&nbsp;&nbsp;&nbsp;77834 | &nbsp;&nbsp;&nbsp;&nbsp; 1444926 |
| &nbsp;&nbsp;&nbsp;Check Point Software Technologies, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp; 837900 |
| &nbsp;&nbsp;&nbsp;CyberArk Software, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2439 | &nbsp;&nbsp;&nbsp;&nbsp; 1003575 |
| &nbsp;&nbsp;&nbsp;Elbit Systems, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1392 | &nbsp;&nbsp;&nbsp;&nbsp; 642449 |
| &nbsp;&nbsp;&nbsp;ICL Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;40437 | &nbsp;&nbsp;&nbsp;&nbsp; 252925 |
| &nbsp;&nbsp;&nbsp;Israel Discount Bank, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;63812 | &nbsp;&nbsp;&nbsp;&nbsp; 612500 |
| &nbsp;&nbsp;&nbsp;Mizrahi Tefahot Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8114 | &nbsp;&nbsp;&nbsp;&nbsp; 502736 |
| &nbsp;&nbsp;&nbsp;Monday.com, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2114 | &nbsp;&nbsp;&nbsp;&nbsp; 554481 |
| &nbsp;&nbsp;&nbsp;Nice, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3301 | &nbsp;&nbsp;&nbsp;&nbsp; 518071 |
| &nbsp;&nbsp;&nbsp;Teva Pharmaceutical Industries, Ltd. ADR† | &nbsp;&nbsp;&nbsp;&nbsp;59529 | &nbsp;&nbsp;&nbsp;&nbsp; 919723 |
| &nbsp;&nbsp;&nbsp;Wix.com, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2761 | &nbsp;&nbsp;&nbsp;&nbsp; 375579 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9110675 |
| **Italy — 2.8%** | **Italy — 2.8%** | **Italy — 2.8%** |
| &nbsp;&nbsp;&nbsp;Banca Mediolanum SpA | &nbsp;&nbsp;&nbsp;&nbsp;11782 | &nbsp;&nbsp;&nbsp;&nbsp; 208407 |
| &nbsp;&nbsp;&nbsp;Banco BPM SpA | &nbsp;&nbsp;&nbsp;&nbsp;58981 | &nbsp;&nbsp;&nbsp;&nbsp; 753862 |
| &nbsp;&nbsp;&nbsp;BPER Banca SpA | &nbsp;&nbsp;&nbsp;&nbsp;76218 | &nbsp;&nbsp;&nbsp;&nbsp; 751159 |
| &nbsp;&nbsp;&nbsp;DiaSorin SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1169 | &nbsp;&nbsp;&nbsp;&nbsp; 114329 |
| &nbsp;&nbsp;&nbsp;Enel SpA | &nbsp;&nbsp;&nbsp;&nbsp;422136 | &nbsp;&nbsp;&nbsp;&nbsp; 3725306 |
| &nbsp;&nbsp;&nbsp;Eni SpA | &nbsp;&nbsp;&nbsp;&nbsp;114326 | &nbsp;&nbsp;&nbsp;&nbsp; 1945289 |
| &nbsp;&nbsp;&nbsp;FinecoBank Banca Fineco SpA | &nbsp;&nbsp;&nbsp;&nbsp;31742 | &nbsp;&nbsp;&nbsp;&nbsp; 678112 |
| &nbsp;&nbsp;&nbsp;Generali | &nbsp;&nbsp;&nbsp;&nbsp;44801 | &nbsp;&nbsp;&nbsp;&nbsp; 1672872 |
| &nbsp;&nbsp;&nbsp;Infrastrutture Wireless Italiane SpA\* | &nbsp;&nbsp;&nbsp;&nbsp;14612 | &nbsp;&nbsp;&nbsp;&nbsp; 172755 |
| &nbsp;&nbsp;&nbsp;Intesa Sanpaolo SpA | &nbsp;&nbsp;&nbsp;&nbsp;785438 | &nbsp;&nbsp;&nbsp;&nbsp; 4746128 |
| &nbsp;&nbsp;&nbsp;Leonardo SpA | &nbsp;&nbsp;&nbsp;&nbsp;21005 | &nbsp;&nbsp;&nbsp;&nbsp; 1133104 |
| &nbsp;&nbsp;&nbsp;Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp;&nbsp;&nbsp;26019 | &nbsp;&nbsp;&nbsp;&nbsp; 574260 |
| &nbsp;&nbsp;&nbsp;Moncler SpA | &nbsp;&nbsp;&nbsp;&nbsp;12124 | &nbsp;&nbsp;&nbsp;&nbsp; 649457 |
| &nbsp;&nbsp;&nbsp;Nexi SpA\* | &nbsp;&nbsp;&nbsp;&nbsp;25701 | &nbsp;&nbsp;&nbsp;&nbsp; 146943 |
| &nbsp;&nbsp;&nbsp;Poste Italiane SpA\* | &nbsp;&nbsp;&nbsp;&nbsp;23876 | &nbsp;&nbsp;&nbsp;&nbsp; 516745 |
| &nbsp;&nbsp;&nbsp;Prysmian SpA | &nbsp;&nbsp;&nbsp;&nbsp;14584 | &nbsp;&nbsp;&nbsp;&nbsp; 1171352 |
| &nbsp;&nbsp;&nbsp;Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6007 | &nbsp;&nbsp;&nbsp;&nbsp; 345501 |
| &nbsp;&nbsp;&nbsp;Snam SpA | &nbsp;&nbsp;&nbsp;&nbsp;104943 | &nbsp;&nbsp;&nbsp;&nbsp; 607667 |
| &nbsp;&nbsp;&nbsp;Telecom Italia SpA† | &nbsp;&nbsp;&nbsp;&nbsp;556940 | &nbsp;&nbsp;&nbsp;&nbsp; 256584 |
| &nbsp;&nbsp;&nbsp;Terna - Rete Elettrica Nazionale | &nbsp;&nbsp;&nbsp;&nbsp;73026 | &nbsp;&nbsp;&nbsp;&nbsp; 704366 |
| &nbsp;&nbsp;&nbsp;UniCredit SpA | &nbsp;&nbsp;&nbsp;&nbsp;72762 | &nbsp;&nbsp;&nbsp;&nbsp; 5366614 |
| &nbsp;&nbsp;&nbsp;Unipol Assicurazioni SpA | &nbsp;&nbsp;&nbsp;&nbsp;18736 | &nbsp;&nbsp;&nbsp;&nbsp; 376635 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;26617447 |
| **Japan — 21.6%** | **Japan — 21.6%** | **Japan — 21.6%** |
| &nbsp;&nbsp;&nbsp;Advantest Corp. | &nbsp;&nbsp;&nbsp;&nbsp;39800 | &nbsp;&nbsp;&nbsp;&nbsp; 2731631 |
| &nbsp;&nbsp;&nbsp;Aeon Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;38500 | &nbsp;&nbsp;&nbsp;&nbsp; 1233889 |
| &nbsp;&nbsp;&nbsp;AGC, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10200 | &nbsp;&nbsp;&nbsp;&nbsp; 307488 |
| &nbsp;&nbsp;&nbsp;Aisin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;27500 | &nbsp;&nbsp;&nbsp;&nbsp; 382775 |
| &nbsp;&nbsp;&nbsp;Ajinomoto Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47100 | &nbsp;&nbsp;&nbsp;&nbsp; 1250899 |
| &nbsp;&nbsp;&nbsp;ANA Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8300 | &nbsp;&nbsp;&nbsp;&nbsp; 154552 |
| &nbsp;&nbsp;&nbsp;Asahi Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp; 954410 |
| &nbsp;&nbsp;&nbsp;Asahi Kasei Corp. | &nbsp;&nbsp;&nbsp;&nbsp;64100 | &nbsp;&nbsp;&nbsp;&nbsp; 448658 |
| &nbsp;&nbsp;&nbsp;Asics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;34300 | &nbsp;&nbsp;&nbsp;&nbsp; 811554 |
| &nbsp;&nbsp;&nbsp;Astellas Pharma, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;93900 | &nbsp;&nbsp;&nbsp;&nbsp; 982899 |
| &nbsp;&nbsp;&nbsp;Bandai Namco Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30800 | &nbsp;&nbsp;&nbsp;&nbsp; 1002430 |
| &nbsp;&nbsp;&nbsp;Bridgestone Corp. | &nbsp;&nbsp;&nbsp;&nbsp;29600 | &nbsp;&nbsp;&nbsp;&nbsp; 1203432 |
| &nbsp;&nbsp;&nbsp;Canon, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;48500 | &nbsp;&nbsp;&nbsp;&nbsp; 1382958 |
| &nbsp;&nbsp;&nbsp;Capcom Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp; 462653 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| &nbsp;&nbsp;&nbsp;Central Japan Railway Co. | &nbsp;&nbsp;&nbsp;&nbsp;40100 | &nbsp;&nbsp;$933628 |
| &nbsp;&nbsp;&nbsp;Chiba Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;29300 | &nbsp;&nbsp;&nbsp;&nbsp; 276096 |
| &nbsp;&nbsp;&nbsp;Chubu Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33400 | &nbsp;&nbsp;&nbsp;&nbsp; 408751 |
| &nbsp;&nbsp;&nbsp;Chugai Pharmaceutical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;34900 | &nbsp;&nbsp;&nbsp;&nbsp; 1703342 |
| &nbsp;&nbsp;&nbsp;Concordia Financial Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;53600 | &nbsp;&nbsp;&nbsp;&nbsp; 359347 |
| &nbsp;&nbsp;&nbsp;Dai Nippon Printing Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;20400 | &nbsp;&nbsp;&nbsp;&nbsp; 315267 |
| &nbsp;&nbsp;&nbsp;Daifuku Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;16800 | &nbsp;&nbsp;&nbsp;&nbsp; 431809 |
| &nbsp;&nbsp;&nbsp;Dai-ichi Life Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;182900 | &nbsp;&nbsp;&nbsp;&nbsp; 1459683 |
| &nbsp;&nbsp;&nbsp;Daiichi Sankyo Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;89100 | &nbsp;&nbsp;&nbsp;&nbsp; 2197958 |
| &nbsp;&nbsp;&nbsp;Daikin Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;13700 | &nbsp;&nbsp;&nbsp;&nbsp; 1692059 |
| &nbsp;&nbsp;&nbsp;Daito Trust Construction Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp; 308753 |
| &nbsp;&nbsp;&nbsp;Daiwa House Industry Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;29100 | &nbsp;&nbsp;&nbsp;&nbsp; 965626 |
| &nbsp;&nbsp;&nbsp;Daiwa Securities Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;69700 | &nbsp;&nbsp;&nbsp;&nbsp; 488547 |
| &nbsp;&nbsp;&nbsp;Denso Corp. | &nbsp;&nbsp;&nbsp;&nbsp;98200 | &nbsp;&nbsp;&nbsp;&nbsp; 1338854 |
| &nbsp;&nbsp;&nbsp;Dentsu Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10300 | &nbsp;&nbsp;&nbsp;&nbsp; 204122 |
| &nbsp;&nbsp;&nbsp;Disco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp;&nbsp;&nbsp; 1419662 |
| &nbsp;&nbsp;&nbsp;East Japan Railway Co. | &nbsp;&nbsp;&nbsp;&nbsp;47100 | &nbsp;&nbsp;&nbsp;&nbsp; 1005092 |
| &nbsp;&nbsp;&nbsp;Eisai Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;13700 | &nbsp;&nbsp;&nbsp;&nbsp; 388197 |
| &nbsp;&nbsp;&nbsp;ENEOS Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;142000 | &nbsp;&nbsp;&nbsp;&nbsp; 747289 |
| &nbsp;&nbsp;&nbsp;FANUC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;49100 | &nbsp;&nbsp;&nbsp;&nbsp; 1390624 |
| &nbsp;&nbsp;&nbsp;Fast Retailing Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9900 | &nbsp;&nbsp;&nbsp;&nbsp; 3044841 |
| &nbsp;&nbsp;&nbsp;Fuji Electric Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp; 351718 |
| &nbsp;&nbsp;&nbsp;FUJIFILM Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;58100 | &nbsp;&nbsp;&nbsp;&nbsp; 1215939 |
| &nbsp;&nbsp;&nbsp;Fujikura, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;&nbsp; 894397 |
| &nbsp;&nbsp;&nbsp;Fujitsu, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;91600 | &nbsp;&nbsp;&nbsp;&nbsp; 2007546 |
| &nbsp;&nbsp;&nbsp;Hankyu Hanshin Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11900 | &nbsp;&nbsp;&nbsp;&nbsp; 310599 |
| &nbsp;&nbsp;&nbsp;Hikari Tsushin, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp; 243024 |
| &nbsp;&nbsp;&nbsp;Hitachi, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;237700 | &nbsp;&nbsp;&nbsp;&nbsp; 7403693 |
| &nbsp;&nbsp;&nbsp;Honda Motor Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;219200 | &nbsp;&nbsp;&nbsp;&nbsp; 2280668 |
| &nbsp;&nbsp;&nbsp;Hoshizaki Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5700 | &nbsp;&nbsp;&nbsp;&nbsp; 196287 |
| &nbsp;&nbsp;&nbsp;Hoya Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17900 | &nbsp;&nbsp;&nbsp;&nbsp; 2276671 |
| &nbsp;&nbsp;&nbsp;Hulic Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;24100 | &nbsp;&nbsp;&nbsp;&nbsp; 231012 |
| &nbsp;&nbsp;&nbsp;Idemitsu Kosan Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;42700 | &nbsp;&nbsp;&nbsp;&nbsp; 274322 |
| &nbsp;&nbsp;&nbsp;IHI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7600 | &nbsp;&nbsp;&nbsp;&nbsp; 856008 |
| &nbsp;&nbsp;&nbsp;Inpex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;45700 | &nbsp;&nbsp;&nbsp;&nbsp; 650801 |
| &nbsp;&nbsp;&nbsp;Isuzu Motors, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;27800 | &nbsp;&nbsp;&nbsp;&nbsp; 359022 |
| &nbsp;&nbsp;&nbsp;ITOCHU Corp. | &nbsp;&nbsp;&nbsp;&nbsp;61700 | &nbsp;&nbsp;&nbsp;&nbsp; 3245796 |
| &nbsp;&nbsp;&nbsp;Japan Airlines Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7500 | &nbsp;&nbsp;&nbsp;&nbsp; 149652 |
| &nbsp;&nbsp;&nbsp;Japan Exchange Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51600 | &nbsp;&nbsp;&nbsp;&nbsp; 506419 |
| &nbsp;&nbsp;&nbsp;Japan Post Bank Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;93500 | &nbsp;&nbsp;&nbsp;&nbsp; 1050945 |
| &nbsp;&nbsp;&nbsp;Japan Post Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;92600 | &nbsp;&nbsp;&nbsp;&nbsp; 861217 |
| &nbsp;&nbsp;&nbsp;Japan Post Insurance Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp; 257029 |
| &nbsp;&nbsp;&nbsp;Japan Tobacco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;62400 | &nbsp;&nbsp;&nbsp;&nbsp; 1786759 |
| &nbsp;&nbsp;&nbsp;JFE Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30100 | &nbsp;&nbsp;&nbsp;&nbsp; 349204 |
| &nbsp;&nbsp;&nbsp;Kajima Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp; 553355 |
| &nbsp;&nbsp;&nbsp;Kansai Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49300 | &nbsp;&nbsp;&nbsp;&nbsp; 595490 |
| &nbsp;&nbsp;&nbsp;Kao Corp. | &nbsp;&nbsp;&nbsp;&nbsp;24200 | &nbsp;&nbsp;&nbsp;&nbsp; 1092851 |
| &nbsp;&nbsp;&nbsp;Kawasaki Kisen Kaisha, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;18300 | &nbsp;&nbsp;&nbsp;&nbsp; 259998 |
| &nbsp;&nbsp;&nbsp;KDDI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;159300 | &nbsp;&nbsp;&nbsp;&nbsp; 2625598 |
| &nbsp;&nbsp;&nbsp;Keyence Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10100 | &nbsp;&nbsp;&nbsp;&nbsp; 3697082 |
| &nbsp;&nbsp;&nbsp;Kikkoman Corp. | &nbsp;&nbsp;&nbsp;&nbsp;35400 | &nbsp;&nbsp;&nbsp;&nbsp; 310806 |
| &nbsp;&nbsp;&nbsp;Kirin Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;40400 | &nbsp;&nbsp;&nbsp;&nbsp; 535541 |
| &nbsp;&nbsp;&nbsp;Kobe Bussan Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7900 | &nbsp;&nbsp;&nbsp;&nbsp; 212954 |
| &nbsp;&nbsp;&nbsp;Komatsu, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;47000 | &nbsp;&nbsp;&nbsp;&nbsp; 1516280 |
| &nbsp;&nbsp;&nbsp;Konami Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;&nbsp; 707586 |
| &nbsp;&nbsp;&nbsp;Kubota Corp. | &nbsp;&nbsp;&nbsp;&nbsp;50900 | &nbsp;&nbsp;&nbsp;&nbsp; 570262 |
| &nbsp;&nbsp;&nbsp;Kyocera Corp. | &nbsp;&nbsp;&nbsp;&nbsp;66800 | &nbsp;&nbsp;&nbsp;&nbsp; 798233 |
| &nbsp;&nbsp;&nbsp;Kyowa Kirin Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;12400 | &nbsp;&nbsp;&nbsp;&nbsp; 213546 |
| &nbsp;&nbsp;&nbsp;Lasertec Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp; 432255 |
| &nbsp;&nbsp;&nbsp;LY Corp. | &nbsp;&nbsp;&nbsp;&nbsp;148800 | &nbsp;&nbsp;&nbsp;&nbsp; 547639 |
| &nbsp;&nbsp;&nbsp;M3, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23100 | &nbsp;&nbsp;&nbsp;&nbsp; 288061 |
| &nbsp;&nbsp;&nbsp;Makita Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12400 | &nbsp;&nbsp;&nbsp;&nbsp; 386637 |
| &nbsp;&nbsp;&nbsp;Marubeni Corp. | &nbsp;&nbsp;&nbsp;&nbsp;73300 | &nbsp;&nbsp;&nbsp;&nbsp; 1513149 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA International Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| &nbsp;&nbsp;&nbsp;MatsukiyoCocokara & Co. | &nbsp;&nbsp;&nbsp;&nbsp;17400 | &nbsp;&nbsp;$358038 |
| &nbsp;&nbsp;&nbsp;MEIJI Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;12700 | &nbsp;&nbsp;&nbsp;&nbsp; 257874 |
| &nbsp;&nbsp;&nbsp;Minebea Mitsumi, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19000 | &nbsp;&nbsp;&nbsp;&nbsp; 302009 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Chemical Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;70800 | &nbsp;&nbsp;&nbsp;&nbsp; 388367 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Corp. | &nbsp;&nbsp;&nbsp;&nbsp;177500 | &nbsp;&nbsp;&nbsp;&nbsp; 3517042 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Electric Corp. | &nbsp;&nbsp;&nbsp;&nbsp;98700 | &nbsp;&nbsp;&nbsp;&nbsp; 2187370 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Estate Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;55300 | &nbsp;&nbsp;&nbsp;&nbsp; 1039992 |
| &nbsp;&nbsp;&nbsp;Mitsubishi HC Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp; 340729 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Heavy Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;166300 | &nbsp;&nbsp;&nbsp;&nbsp; 4003110 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;595000 | &nbsp;&nbsp;&nbsp;&nbsp; 8327238 |
| &nbsp;&nbsp;&nbsp;Mitsui & Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;128200 | &nbsp;&nbsp;&nbsp;&nbsp; 2635411 |
| &nbsp;&nbsp;&nbsp;Mitsui Fudosan Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;137200 | &nbsp;&nbsp;&nbsp;&nbsp; 1235983 |
| &nbsp;&nbsp;&nbsp;Mitsui OSK Lines, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;17900 | &nbsp;&nbsp;&nbsp;&nbsp; 603591 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;123900 | &nbsp;&nbsp;&nbsp;&nbsp; 3682492 |
| &nbsp;&nbsp;&nbsp;MonotaRO Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;13100 | &nbsp;&nbsp;&nbsp;&nbsp; 234897 |
| &nbsp;&nbsp;&nbsp;MS&AD Insurance Group Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;66800 | &nbsp;&nbsp;&nbsp;&nbsp; 1436997 |
| &nbsp;&nbsp;&nbsp;Murata Manufacturing Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;86600 | &nbsp;&nbsp;&nbsp;&nbsp; 1302159 |
| &nbsp;&nbsp;&nbsp;NEC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;63900 | &nbsp;&nbsp;&nbsp;&nbsp; 1864033 |
| &nbsp;&nbsp;&nbsp;Nexon Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;17100 | &nbsp;&nbsp;&nbsp;&nbsp; 314558 |
| &nbsp;&nbsp;&nbsp;NIDEC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;43400 | &nbsp;&nbsp;&nbsp;&nbsp; 838357 |
| &nbsp;&nbsp;&nbsp;Nintendo Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;57300 | &nbsp;&nbsp;&nbsp;&nbsp; 4821863 |
| &nbsp;&nbsp;&nbsp;Nippon Building Fund, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 367905 |
| &nbsp;&nbsp;&nbsp;Nippon Paint Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;49500 | &nbsp;&nbsp;&nbsp;&nbsp; 422129 |
| &nbsp;&nbsp;&nbsp;Nippon Sanso Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp; 320729 |
| &nbsp;&nbsp;&nbsp;Nippon Steel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;50200 | &nbsp;&nbsp;&nbsp;&nbsp; 971876 |
| &nbsp;&nbsp;&nbsp;Nippon Yusen KK | &nbsp;&nbsp;&nbsp;&nbsp;22700 | &nbsp;&nbsp;&nbsp;&nbsp; 797962 |
| &nbsp;&nbsp;&nbsp;Nissan Motor Co., Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;116400 | &nbsp;&nbsp;&nbsp;&nbsp; 248238 |
| &nbsp;&nbsp;&nbsp;Nissin Foods Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;10300 | &nbsp;&nbsp;&nbsp;&nbsp; 196096 |
| &nbsp;&nbsp;&nbsp;Nitori Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp; 360537 |
| &nbsp;&nbsp;&nbsp;Nitto Denko Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36700 | &nbsp;&nbsp;&nbsp;&nbsp; 764421 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;156000 | &nbsp;&nbsp;&nbsp;&nbsp; 1039655 |
| &nbsp;&nbsp;&nbsp;Nomura Research Institute, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;19600 | &nbsp;&nbsp;&nbsp;&nbsp; 782310 |
| &nbsp;&nbsp;&nbsp;NTT Data Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13200 | &nbsp;&nbsp;&nbsp;&nbsp; 346981 |
| &nbsp;&nbsp;&nbsp;NTT, Inc. | 1550900 | &nbsp;&nbsp;&nbsp;&nbsp; 1570441 |
| &nbsp;&nbsp;&nbsp;Obayashi Corp. | &nbsp;&nbsp;&nbsp;&nbsp;33800 | &nbsp;&nbsp;&nbsp;&nbsp; 499491 |
| &nbsp;&nbsp;&nbsp;Obic Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;16800 | &nbsp;&nbsp;&nbsp;&nbsp; 603820 |
| &nbsp;&nbsp;&nbsp;Olympus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;59100 | &nbsp;&nbsp;&nbsp;&nbsp; 709945 |
| &nbsp;&nbsp;&nbsp;Omron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9100 | &nbsp;&nbsp;&nbsp;&nbsp; 236491 |
| &nbsp;&nbsp;&nbsp;Ono Pharmaceutical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;19400 | &nbsp;&nbsp;&nbsp;&nbsp; 217478 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp; 217573 |
| &nbsp;&nbsp;&nbsp;Oriental Land Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;56100 | &nbsp;&nbsp;&nbsp;&nbsp; 1158830 |
| &nbsp;&nbsp;&nbsp;ORIX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;60400 | &nbsp;&nbsp;&nbsp;&nbsp; 1361804 |
| &nbsp;&nbsp;&nbsp;Osaka Gas Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;18900 | &nbsp;&nbsp;&nbsp;&nbsp; 477513 |
| &nbsp;&nbsp;&nbsp;Otsuka Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11800 | &nbsp;&nbsp;&nbsp;&nbsp; 224380 |
| &nbsp;&nbsp;&nbsp;Otsuka Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;22900 | &nbsp;&nbsp;&nbsp;&nbsp; 1109010 |
| &nbsp;&nbsp;&nbsp;Pan Pacific International Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;19800 | &nbsp;&nbsp;&nbsp;&nbsp; 665558 |
| &nbsp;&nbsp;&nbsp;Panasonic Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;121000 | &nbsp;&nbsp;&nbsp;&nbsp; 1155839 |
| &nbsp;&nbsp;&nbsp;Rakuten Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;78700 | &nbsp;&nbsp;&nbsp;&nbsp; 402894 |
| &nbsp;&nbsp;&nbsp;Recruit Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;73100 | &nbsp;&nbsp;&nbsp;&nbsp; 4387939 |
| &nbsp;&nbsp;&nbsp;Renesas Electronics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;87400 | &nbsp;&nbsp;&nbsp;&nbsp; 1081488 |
| &nbsp;&nbsp;&nbsp;Resona Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;107800 | &nbsp;&nbsp;&nbsp;&nbsp; 992932 |
| &nbsp;&nbsp;&nbsp;Ricoh Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;28500 | &nbsp;&nbsp;&nbsp;&nbsp; 251454 |
| &nbsp;&nbsp;&nbsp;Sanrio Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9300 | &nbsp;&nbsp;&nbsp;&nbsp; 383779 |
| &nbsp;&nbsp;&nbsp;SBI Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14200 | &nbsp;&nbsp;&nbsp;&nbsp; 533159 |
| &nbsp;&nbsp;&nbsp;SCREEN Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp; 333660 |
| &nbsp;&nbsp;&nbsp;SCSK Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp; 253206 |
| &nbsp;&nbsp;&nbsp;Secom Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;21800 | &nbsp;&nbsp;&nbsp;&nbsp; 782950 |
| &nbsp;&nbsp;&nbsp;Sekisui Chemical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;19600 | &nbsp;&nbsp;&nbsp;&nbsp; 342155 |
| &nbsp;&nbsp;&nbsp;Sekisui House, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;31000 | &nbsp;&nbsp;&nbsp;&nbsp; 655153 |
| &nbsp;&nbsp;&nbsp;Seven & i Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;115200 | &nbsp;&nbsp;&nbsp;&nbsp; 1525560 |
| &nbsp;&nbsp;&nbsp;SG Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;16900 | &nbsp;&nbsp;&nbsp;&nbsp; 188444 |
| &nbsp;&nbsp;&nbsp;Shimadzu Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12400 | &nbsp;&nbsp;&nbsp;&nbsp; 276286 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| &nbsp;&nbsp;&nbsp;Shimano, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3900 | &nbsp;&nbsp;$428664 |
| &nbsp;&nbsp;&nbsp;Shin-Etsu Chemical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;93500 | &nbsp;&nbsp;&nbsp;&nbsp; 2725017 |
| &nbsp;&nbsp;&nbsp;Shionogi & Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;39200 | &nbsp;&nbsp;&nbsp;&nbsp; 661825 |
| &nbsp;&nbsp;&nbsp;Shiseido Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;20900 | &nbsp;&nbsp;&nbsp;&nbsp; 340318 |
| &nbsp;&nbsp;&nbsp;SMC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp; 1013462 |
| &nbsp;&nbsp;&nbsp;SoftBank Corp. | 1485800 | &nbsp;&nbsp;&nbsp;&nbsp; 2153819 |
| &nbsp;&nbsp;&nbsp;SoftBank Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;49600 | &nbsp;&nbsp;&nbsp;&nbsp; 3884456 |
| &nbsp;&nbsp;&nbsp;Sompo Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46400 | &nbsp;&nbsp;&nbsp;&nbsp; 1376000 |
| &nbsp;&nbsp;&nbsp;Sony Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;319200 | &nbsp;&nbsp;&nbsp;&nbsp; 7793729 |
| &nbsp;&nbsp;&nbsp;Subaru Corp. | &nbsp;&nbsp;&nbsp;&nbsp;30500 | &nbsp;&nbsp;&nbsp;&nbsp; 562167 |
| &nbsp;&nbsp;&nbsp;Sumitomo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;56700 | &nbsp;&nbsp;&nbsp;&nbsp; 1451340 |
| &nbsp;&nbsp;&nbsp;Sumitomo Electric Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;37100 | &nbsp;&nbsp;&nbsp;&nbsp; 924548 |
| &nbsp;&nbsp;&nbsp;Sumitomo Metal Mining Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;12900 | &nbsp;&nbsp;&nbsp;&nbsp; 286999 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;191500 | &nbsp;&nbsp;&nbsp;&nbsp; 4895441 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Trust Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33300 | &nbsp;&nbsp;&nbsp;&nbsp; 878210 |
| &nbsp;&nbsp;&nbsp;Sumitomo Realty & Development Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;16100 | &nbsp;&nbsp;&nbsp;&nbsp; 591686 |
| &nbsp;&nbsp;&nbsp;Suntory Beverage & Food, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;&nbsp; 221130 |
| &nbsp;&nbsp;&nbsp;Suzuki Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;81600 | &nbsp;&nbsp;&nbsp;&nbsp; 901767 |
| &nbsp;&nbsp;&nbsp;Sysmex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26300 | &nbsp;&nbsp;&nbsp;&nbsp; 431997 |
| &nbsp;&nbsp;&nbsp;T&D Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25400 | &nbsp;&nbsp;&nbsp;&nbsp; 626073 |
| &nbsp;&nbsp;&nbsp;Taisei Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp; 486967 |
| &nbsp;&nbsp;&nbsp;Takeda Pharmaceutical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;82600 | &nbsp;&nbsp;&nbsp;&nbsp; 2300531 |
| &nbsp;&nbsp;&nbsp;TDK Corp. | &nbsp;&nbsp;&nbsp;&nbsp;100900 | &nbsp;&nbsp;&nbsp;&nbsp; 1242515 |
| &nbsp;&nbsp;&nbsp;Terumo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;69200 | &nbsp;&nbsp;&nbsp;&nbsp; 1175207 |
| &nbsp;&nbsp;&nbsp;TIS, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11100 | &nbsp;&nbsp;&nbsp;&nbsp; 355966 |
| &nbsp;&nbsp;&nbsp;Toho Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5800 | &nbsp;&nbsp;&nbsp;&nbsp; 366808 |
| &nbsp;&nbsp;&nbsp;Tokio Marine Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;95400 | &nbsp;&nbsp;&nbsp;&nbsp; 3874202 |
| &nbsp;&nbsp;&nbsp;Tokyo Electron, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;23200 | &nbsp;&nbsp;&nbsp;&nbsp; 4204615 |
| &nbsp;&nbsp;&nbsp;Tokyo Gas Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;17200 | &nbsp;&nbsp;&nbsp;&nbsp; 575881 |
| &nbsp;&nbsp;&nbsp;Tokyo Metro Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;15200 | &nbsp;&nbsp;&nbsp;&nbsp; 164398 |
| &nbsp;&nbsp;&nbsp;Tokyu Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26100 | &nbsp;&nbsp;&nbsp;&nbsp; 295269 |
| &nbsp;&nbsp;&nbsp;Toppan Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12500 | &nbsp;&nbsp;&nbsp;&nbsp; 339274 |
| &nbsp;&nbsp;&nbsp;Toray Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;72200 | &nbsp;&nbsp;&nbsp;&nbsp; 496973 |
| &nbsp;&nbsp;&nbsp;Toyota Industries Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp; 906565 |
| &nbsp;&nbsp;&nbsp;Toyota Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;491900 | &nbsp;&nbsp;&nbsp;&nbsp; 8795811 |
| &nbsp;&nbsp;&nbsp;Toyota Tsusho Corp. | &nbsp;&nbsp;&nbsp;&nbsp;33100 | &nbsp;&nbsp;&nbsp;&nbsp; 761871 |
| &nbsp;&nbsp;&nbsp;Trend Micro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp; 403878 |
| &nbsp;&nbsp;&nbsp;Unicharm Corp. | &nbsp;&nbsp;&nbsp;&nbsp;58400 | &nbsp;&nbsp;&nbsp;&nbsp; 405082 |
| &nbsp;&nbsp;&nbsp;West Japan Railway Co. | &nbsp;&nbsp;&nbsp;&nbsp;23200 | &nbsp;&nbsp;&nbsp;&nbsp; 510923 |
| &nbsp;&nbsp;&nbsp;Yakult Honsha Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;13400 | &nbsp;&nbsp;&nbsp;&nbsp; 216106 |
| &nbsp;&nbsp;&nbsp;Yamaha Motor Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;48200 | &nbsp;&nbsp;&nbsp;&nbsp; 349514 |
| &nbsp;&nbsp;&nbsp;Yokogawa Electric Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11900 | &nbsp;&nbsp;&nbsp;&nbsp; 317938 |
| &nbsp;&nbsp;&nbsp;Zensho Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp; 265119 |
| &nbsp;&nbsp;&nbsp;ZOZO, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21200 | &nbsp;&nbsp;&nbsp;&nbsp; 210172 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;209086240 |
| **Jersey — 0.5%** | **Jersey — 0.5%** | **Jersey — 0.5%** |
| &nbsp;&nbsp;&nbsp;CVC Capital Partners PLC\* | &nbsp;&nbsp;&nbsp;&nbsp;11104 | &nbsp;&nbsp;&nbsp;&nbsp; 214281 |
| &nbsp;&nbsp;&nbsp;Experian PLC | &nbsp;&nbsp;&nbsp;&nbsp;47656 | &nbsp;&nbsp;&nbsp;&nbsp; 2519993 |
| &nbsp;&nbsp;&nbsp;Glencore PLC | &nbsp;&nbsp;&nbsp;&nbsp;532177 | &nbsp;&nbsp;&nbsp;&nbsp; 2141842 |
| &nbsp;&nbsp;&nbsp;WPP PLC | &nbsp;&nbsp;&nbsp;&nbsp;56143 | &nbsp;&nbsp;&nbsp;&nbsp; 303996 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5180112 |
| **Luxembourg — 0.7%** | **Luxembourg — 0.7%** | **Luxembourg — 0.7%** |
| &nbsp;&nbsp;&nbsp;ArcelorMittal SA | &nbsp;&nbsp;&nbsp;&nbsp;24344 | &nbsp;&nbsp;&nbsp;&nbsp; 764543 |
| &nbsp;&nbsp;&nbsp;Eurofins Scientific SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6145 | &nbsp;&nbsp;&nbsp;&nbsp; 472093 |
| &nbsp;&nbsp;&nbsp;InPost SA† | &nbsp;&nbsp;&nbsp;&nbsp;11752 | &nbsp;&nbsp;&nbsp;&nbsp; 169252 |
| &nbsp;&nbsp;&nbsp;Spotify Technology SA† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7969 | &nbsp;&nbsp;&nbsp;&nbsp; 4992897 |
| &nbsp;&nbsp;&nbsp;Tenaris SA | &nbsp;&nbsp;&nbsp;&nbsp;21179 | &nbsp;&nbsp;&nbsp;&nbsp; 373176 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6771961 |
| **Macau — 0.0%** | **Macau — 0.0%** | **Macau — 0.0%** |
| &nbsp;&nbsp;&nbsp;Sands China, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;126800 | &nbsp;&nbsp;&nbsp;&nbsp; 307551 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA International Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Netherlands — 5.8%** | **Netherlands — 5.8%** | **Netherlands — 5.8%** |
| &nbsp;&nbsp;&nbsp;ABN AMRO Bank NV CVA\* | &nbsp;&nbsp;&nbsp;&nbsp;23780 | &nbsp;&nbsp;$688213 |
| &nbsp;&nbsp;&nbsp;Adyen NV\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1308 | &nbsp;&nbsp;&nbsp;&nbsp; 2254856 |
| &nbsp;&nbsp;&nbsp;AerCap Holdings NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9555 | &nbsp;&nbsp;&nbsp;&nbsp; 1024774 |
| &nbsp;&nbsp;&nbsp;Airbus SE | &nbsp;&nbsp;&nbsp;&nbsp;30841 | &nbsp;&nbsp;&nbsp;&nbsp; 6195857 |
| &nbsp;&nbsp;&nbsp;Akzo Nobel NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8886 | &nbsp;&nbsp;&nbsp;&nbsp; 558550 |
| &nbsp;&nbsp;&nbsp;Argenx SE† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3169 | &nbsp;&nbsp;&nbsp;&nbsp; 2149624 |
| &nbsp;&nbsp;&nbsp;ASM International NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2432 | &nbsp;&nbsp;&nbsp;&nbsp; 1186482 |
| &nbsp;&nbsp;&nbsp;ASML Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;20441 | &nbsp;&nbsp;&nbsp;&nbsp; 14301942 |
| &nbsp;&nbsp;&nbsp;ASR Nederland NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7678 | &nbsp;&nbsp;&nbsp;&nbsp; 511358 |
| &nbsp;&nbsp;&nbsp;BE Semiconductor Industries NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4212 | &nbsp;&nbsp;&nbsp;&nbsp; 572482 |
| &nbsp;&nbsp;&nbsp;Davide Campari-Milano NV | &nbsp;&nbsp;&nbsp;&nbsp;32154 | &nbsp;&nbsp;&nbsp;&nbsp; 222366 |
| &nbsp;&nbsp;&nbsp;Euronext NV\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4058 | &nbsp;&nbsp;&nbsp;&nbsp; 655748 |
| &nbsp;&nbsp;&nbsp;EXOR NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4588 | &nbsp;&nbsp;&nbsp;&nbsp; 443736 |
| &nbsp;&nbsp;&nbsp;Ferrari NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6542 | &nbsp;&nbsp;&nbsp;&nbsp; 2876545 |
| &nbsp;&nbsp;&nbsp;Ferrovial SE | &nbsp;&nbsp;&nbsp;&nbsp;26506 | &nbsp;&nbsp;&nbsp;&nbsp; 1358164 |
| &nbsp;&nbsp;&nbsp;Heineken Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6727 | &nbsp;&nbsp;&nbsp;&nbsp; 456005 |
| &nbsp;&nbsp;&nbsp;Heineken NV | &nbsp;&nbsp;&nbsp;&nbsp;14948 | &nbsp;&nbsp;&nbsp;&nbsp; 1178070 |
| &nbsp;&nbsp;&nbsp;IMCD NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3087 | &nbsp;&nbsp;&nbsp;&nbsp; 339324 |
| &nbsp;&nbsp;&nbsp;ING Groep NV | &nbsp;&nbsp;&nbsp;&nbsp;163356 | &nbsp;&nbsp;&nbsp;&nbsp; 3819782 |
| &nbsp;&nbsp;&nbsp;JDE Peet's NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8924 | &nbsp;&nbsp;&nbsp;&nbsp; 265600 |
| &nbsp;&nbsp;&nbsp;Koninklijke Ahold Delhaize NV | &nbsp;&nbsp;&nbsp;&nbsp;47383 | &nbsp;&nbsp;&nbsp;&nbsp; 1870941 |
| &nbsp;&nbsp;&nbsp;Koninklijke KPN NV | &nbsp;&nbsp;&nbsp;&nbsp;201843 | &nbsp;&nbsp;&nbsp;&nbsp; 902945 |
| &nbsp;&nbsp;&nbsp;Koninklijke Philips NV | &nbsp;&nbsp;&nbsp;&nbsp;43191 | &nbsp;&nbsp;&nbsp;&nbsp; 1138589 |
| &nbsp;&nbsp;&nbsp;NN Group NV | &nbsp;&nbsp;&nbsp;&nbsp;13962 | &nbsp;&nbsp;&nbsp;&nbsp; 942622 |
| &nbsp;&nbsp;&nbsp;Prosus NV | &nbsp;&nbsp;&nbsp;&nbsp;67910 | &nbsp;&nbsp;&nbsp;&nbsp; 3893542 |
| &nbsp;&nbsp;&nbsp;QIAGEN NV | &nbsp;&nbsp;&nbsp;&nbsp;11217 | &nbsp;&nbsp;&nbsp;&nbsp; 560677 |
| &nbsp;&nbsp;&nbsp;Randstad NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5668 | &nbsp;&nbsp;&nbsp;&nbsp; 270634 |
| &nbsp;&nbsp;&nbsp;Stellantis NV | &nbsp;&nbsp;&nbsp;&nbsp;104652 | &nbsp;&nbsp;&nbsp;&nbsp; 927126 |
| &nbsp;&nbsp;&nbsp;STMicroelectronics NV | &nbsp;&nbsp;&nbsp;&nbsp;35142 | &nbsp;&nbsp;&nbsp;&nbsp; 900536 |
| &nbsp;&nbsp;&nbsp;Universal Music Group NV | &nbsp;&nbsp;&nbsp;&nbsp;57257 | &nbsp;&nbsp;&nbsp;&nbsp; 1658371 |
| &nbsp;&nbsp;&nbsp;Wolters Kluwer NV | &nbsp;&nbsp;&nbsp;&nbsp;12411 | &nbsp;&nbsp;&nbsp;&nbsp; 1936140 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;56061601 |
| **New Zealand — 0.3%** | **New Zealand — 0.3%** | **New Zealand — 0.3%** |
| &nbsp;&nbsp;&nbsp;Contact Energy, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;41676 | &nbsp;&nbsp;&nbsp;&nbsp; 223663 |
| &nbsp;&nbsp;&nbsp;Fisher & Paykel Healthcare Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;30890 | &nbsp;&nbsp;&nbsp;&nbsp; 669660 |
| &nbsp;&nbsp;&nbsp;Infratil, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;48034 | &nbsp;&nbsp;&nbsp;&nbsp; 329092 |
| &nbsp;&nbsp;&nbsp;Meridian Energy, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;68061 | &nbsp;&nbsp;&nbsp;&nbsp; 228540 |
| &nbsp;&nbsp;&nbsp;Xero, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8493 | &nbsp;&nbsp;&nbsp;&nbsp; 987848 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2438803 |
| **Norway — 0.6%** | **Norway — 0.6%** | **Norway — 0.6%** |
| &nbsp;&nbsp;&nbsp;Aker BP ASA | &nbsp;&nbsp;&nbsp;&nbsp;16505 | &nbsp;&nbsp;&nbsp;&nbsp; 399586 |
| &nbsp;&nbsp;&nbsp;DNB Bank ASA | &nbsp;&nbsp;&nbsp;&nbsp;46479 | &nbsp;&nbsp;&nbsp;&nbsp; 1179204 |
| &nbsp;&nbsp;&nbsp;Equinor ASA | &nbsp;&nbsp;&nbsp;&nbsp;43485 | &nbsp;&nbsp;&nbsp;&nbsp; 1125957 |
| &nbsp;&nbsp;&nbsp;Gjensidige Forsikring ASA | &nbsp;&nbsp;&nbsp;&nbsp;10446 | &nbsp;&nbsp;&nbsp;&nbsp; 275429 |
| &nbsp;&nbsp;&nbsp;Kongsberg Gruppen ASA | &nbsp;&nbsp;&nbsp;&nbsp;22827 | &nbsp;&nbsp;&nbsp;&nbsp; 683903 |
| &nbsp;&nbsp;&nbsp;Mowi ASA | &nbsp;&nbsp;&nbsp;&nbsp;24522 | &nbsp;&nbsp;&nbsp;&nbsp; 458956 |
| &nbsp;&nbsp;&nbsp;Norsk Hydro ASA | &nbsp;&nbsp;&nbsp;&nbsp;73450 | &nbsp;&nbsp;&nbsp;&nbsp; 437345 |
| &nbsp;&nbsp;&nbsp;Orkla ASA | &nbsp;&nbsp;&nbsp;&nbsp;36613 | &nbsp;&nbsp;&nbsp;&nbsp; 386008 |
| &nbsp;&nbsp;&nbsp;Salmar ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3448 | &nbsp;&nbsp;&nbsp;&nbsp; 140072 |
| &nbsp;&nbsp;&nbsp;Telenor ASA | &nbsp;&nbsp;&nbsp;&nbsp;32160 | &nbsp;&nbsp;&nbsp;&nbsp; 493659 |
| &nbsp;&nbsp;&nbsp;Yara International ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8648 | &nbsp;&nbsp;&nbsp;&nbsp; 321288 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5901407 |
| **Portugal — 0.2%** | **Portugal — 0.2%** | **Portugal — 0.2%** |
| &nbsp;&nbsp;&nbsp;EDP SA | &nbsp;&nbsp;&nbsp;&nbsp;162869 | &nbsp;&nbsp;&nbsp;&nbsp; 703689 |
| &nbsp;&nbsp;&nbsp;Galp Energia SGPS SA | &nbsp;&nbsp;&nbsp;&nbsp;21793 | &nbsp;&nbsp;&nbsp;&nbsp; 415705 |
| &nbsp;&nbsp;&nbsp;Jeronimo Martins SGPS SA | &nbsp;&nbsp;&nbsp;&nbsp;14790 | &nbsp;&nbsp;&nbsp;&nbsp; 361196 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1480590 |
| **Singapore — 1.8%** | **Singapore — 1.8%** | **Singapore — 1.8%** |
| &nbsp;&nbsp;&nbsp;CapitaLand Ascendas REIT | &nbsp;&nbsp;&nbsp;&nbsp;195400 | &nbsp;&nbsp;&nbsp;&nbsp; 419875 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Singapore (continued)** | **Singapore (continued)** | **Singapore (continued)** |
| &nbsp;&nbsp;&nbsp;CapitaLand Integrated Commercial Trust | &nbsp;&nbsp;&nbsp;&nbsp;303685 | &nbsp;&nbsp;$514562 |
| &nbsp;&nbsp;&nbsp;CapitaLand Investment, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;122300 | &nbsp;&nbsp;&nbsp;&nbsp; 261856 |
| &nbsp;&nbsp;&nbsp;DBS Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;110600 | &nbsp;&nbsp;&nbsp;&nbsp; 4081058 |
| &nbsp;&nbsp;&nbsp;Genting Singapore, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;315800 | &nbsp;&nbsp;&nbsp;&nbsp; 178768 |
| &nbsp;&nbsp;&nbsp;Grab Holdings, Ltd., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;123152 | &nbsp;&nbsp;&nbsp;&nbsp; 602213 |
| &nbsp;&nbsp;&nbsp;Keppel, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;76100 | &nbsp;&nbsp;&nbsp;&nbsp; 496432 |
| &nbsp;&nbsp;&nbsp;Oversea-Chinese Banking Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;175800 | &nbsp;&nbsp;&nbsp;&nbsp; 2284154 |
| &nbsp;&nbsp;&nbsp;Sea, Ltd. ADR† | &nbsp;&nbsp;&nbsp;&nbsp;19855 | &nbsp;&nbsp;&nbsp;&nbsp; 3110286 |
| &nbsp;&nbsp;&nbsp;Sembcorp Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;46700 | &nbsp;&nbsp;&nbsp;&nbsp; 279107 |
| &nbsp;&nbsp;&nbsp;Singapore Airlines, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;77800 | &nbsp;&nbsp;&nbsp;&nbsp; 407455 |
| &nbsp;&nbsp;&nbsp;Singapore Exchange, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;44500 | &nbsp;&nbsp;&nbsp;&nbsp; 548367 |
| &nbsp;&nbsp;&nbsp;Singapore Technologies Engineering, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;81200 | &nbsp;&nbsp;&nbsp;&nbsp; 548463 |
| &nbsp;&nbsp;&nbsp;Singapore Telecommunications, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;385700 | &nbsp;&nbsp;&nbsp;&nbsp; 1152585 |
| &nbsp;&nbsp;&nbsp;United Overseas Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;65700 | &nbsp;&nbsp;&nbsp;&nbsp; 1831241 |
| &nbsp;&nbsp;&nbsp;Wilmar International, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;100300 | &nbsp;&nbsp;&nbsp;&nbsp; 227884 |
| &nbsp;&nbsp;&nbsp;Yangzijiang Shipbuilding Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;134900 | &nbsp;&nbsp;&nbsp;&nbsp; 265977 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;17210283 |
| **Spain — 3.3%** | **Spain — 3.3%** | **Spain — 3.3%** |
| &nbsp;&nbsp;&nbsp;Acciona SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1289 | &nbsp;&nbsp;&nbsp;&nbsp; 247423 |
| &nbsp;&nbsp;&nbsp;ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9427 | &nbsp;&nbsp;&nbsp;&nbsp; 649789 |
| &nbsp;&nbsp;&nbsp;Aena SME SA\* | &nbsp;&nbsp;&nbsp;&nbsp;39520 | &nbsp;&nbsp;&nbsp;&nbsp; 1064139 |
| &nbsp;&nbsp;&nbsp;Amadeus IT Group SA | &nbsp;&nbsp;&nbsp;&nbsp;23445 | &nbsp;&nbsp;&nbsp;&nbsp; 1884117 |
| &nbsp;&nbsp;&nbsp;Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp;&nbsp;&nbsp;299126 | &nbsp;&nbsp;&nbsp;&nbsp; 4997546 |
| &nbsp;&nbsp;&nbsp;Banco de Sabadell SA | &nbsp;&nbsp;&nbsp;&nbsp;279632 | &nbsp;&nbsp;&nbsp;&nbsp; 1034255 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | &nbsp;&nbsp;&nbsp;&nbsp;786444 | &nbsp;&nbsp;&nbsp;&nbsp; 6763481 |
| &nbsp;&nbsp;&nbsp;Bankinter SA | &nbsp;&nbsp;&nbsp;&nbsp;35179 | &nbsp;&nbsp;&nbsp;&nbsp; 501828 |
| &nbsp;&nbsp;&nbsp;CaixaBank SA | &nbsp;&nbsp;&nbsp;&nbsp;204816 | &nbsp;&nbsp;&nbsp;&nbsp; 1928321 |
| &nbsp;&nbsp;&nbsp;Cellnex Telecom SA\* | &nbsp;&nbsp;&nbsp;&nbsp;25667 | &nbsp;&nbsp;&nbsp;&nbsp; 908026 |
| &nbsp;&nbsp;&nbsp;EDP Renovaveis SA | &nbsp;&nbsp;&nbsp;&nbsp;16474 | &nbsp;&nbsp;&nbsp;&nbsp; 193641 |
| &nbsp;&nbsp;&nbsp;Endesa SA | &nbsp;&nbsp;&nbsp;&nbsp;16530 | &nbsp;&nbsp;&nbsp;&nbsp; 478203 |
| &nbsp;&nbsp;&nbsp;Grifols SA† | &nbsp;&nbsp;&nbsp;&nbsp;15708 | &nbsp;&nbsp;&nbsp;&nbsp; 235189 |
| &nbsp;&nbsp;&nbsp;Iberdrola SA | &nbsp;&nbsp;&nbsp;&nbsp;329424 | &nbsp;&nbsp;&nbsp;&nbsp; 5772524 |
| &nbsp;&nbsp;&nbsp;Industria de Diseno Textil SA | &nbsp;&nbsp;&nbsp;&nbsp;56616 | &nbsp;&nbsp;&nbsp;&nbsp; 2707811 |
| &nbsp;&nbsp;&nbsp;International Consolidated Airlines Group SA | &nbsp;&nbsp;&nbsp;&nbsp;64507 | &nbsp;&nbsp;&nbsp;&nbsp; 324202 |
| &nbsp;&nbsp;&nbsp;Repsol SA | &nbsp;&nbsp;&nbsp;&nbsp;60071 | &nbsp;&nbsp;&nbsp;&nbsp; 910384 |
| &nbsp;&nbsp;&nbsp;Telefonica SA | &nbsp;&nbsp;&nbsp;&nbsp;191290 | &nbsp;&nbsp;&nbsp;&nbsp; 987590 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;31588469 |
| **SupraNational — 0.1%** | **SupraNational — 0.1%** | **SupraNational — 0.1%** |
| &nbsp;&nbsp;&nbsp;Unibail-Rodamco-Westfield | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6310 | &nbsp;&nbsp;&nbsp;&nbsp; 613811 |
| **Sweden — 3.0%** | **Sweden — 3.0%** | **Sweden — 3.0%** |
| &nbsp;&nbsp;&nbsp;AddTech AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;13527 | &nbsp;&nbsp;&nbsp;&nbsp; 456001 |
| &nbsp;&nbsp;&nbsp;Alfa Laval AB | &nbsp;&nbsp;&nbsp;&nbsp;15017 | &nbsp;&nbsp;&nbsp;&nbsp; 654264 |
| &nbsp;&nbsp;&nbsp;Assa Abloy AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;52021 | &nbsp;&nbsp;&nbsp;&nbsp; 1720704 |
| &nbsp;&nbsp;&nbsp;Atlas Copco AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;139412 | &nbsp;&nbsp;&nbsp;&nbsp; 2127656 |
| &nbsp;&nbsp;&nbsp;Atlas Copco AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;81012 | &nbsp;&nbsp;&nbsp;&nbsp; 1097759 |
| &nbsp;&nbsp;&nbsp;Beijer Ref AB | &nbsp;&nbsp;&nbsp;&nbsp;20103 | &nbsp;&nbsp;&nbsp;&nbsp; 337608 |
| &nbsp;&nbsp;&nbsp;Boliden AB† | &nbsp;&nbsp;&nbsp;&nbsp;14792 | &nbsp;&nbsp;&nbsp;&nbsp; 454674 |
| &nbsp;&nbsp;&nbsp;Epiroc AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;34204 | &nbsp;&nbsp;&nbsp;&nbsp; 697235 |
| &nbsp;&nbsp;&nbsp;Epiroc AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;20240 | &nbsp;&nbsp;&nbsp;&nbsp; 363480 |
| &nbsp;&nbsp;&nbsp;EQT AB | &nbsp;&nbsp;&nbsp;&nbsp;19325 | &nbsp;&nbsp;&nbsp;&nbsp; 648888 |
| &nbsp;&nbsp;&nbsp;Essity AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;31265 | &nbsp;&nbsp;&nbsp;&nbsp; 771305 |
| &nbsp;&nbsp;&nbsp;Evolution AB\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7696 | &nbsp;&nbsp;&nbsp;&nbsp; 685853 |
| &nbsp;&nbsp;&nbsp;Fastighets AB Balder, Class B† | &nbsp;&nbsp;&nbsp;&nbsp;37501 | &nbsp;&nbsp;&nbsp;&nbsp; 253984 |
| &nbsp;&nbsp;&nbsp;H & M Hennes & Mauritz AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;29585 | &nbsp;&nbsp;&nbsp;&nbsp; 399987 |
| &nbsp;&nbsp;&nbsp;Hexagon AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;107758 | &nbsp;&nbsp;&nbsp;&nbsp; 1188291 |
| &nbsp;&nbsp;&nbsp;Holmen AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3981 | &nbsp;&nbsp;&nbsp;&nbsp; 148028 |
| &nbsp;&nbsp;&nbsp;Industrivarden AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6202 | &nbsp;&nbsp;&nbsp;&nbsp; 230106 |
| &nbsp;&nbsp;&nbsp;Industrivarden AB, Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8056 | &nbsp;&nbsp;&nbsp;&nbsp; 298399 |
| &nbsp;&nbsp;&nbsp;Indutrade AB | &nbsp;&nbsp;&nbsp;&nbsp;14271 | &nbsp;&nbsp;&nbsp;&nbsp; 347545 |
| &nbsp;&nbsp;&nbsp;Investment AB Latour, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7733 | &nbsp;&nbsp;&nbsp;&nbsp; 197882 |
| &nbsp;&nbsp;&nbsp;Investor AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;89834 | &nbsp;&nbsp;&nbsp;&nbsp; 2610800 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA International Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
| &nbsp;&nbsp;&nbsp;L E Lundbergforetagen AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3969 | &nbsp;&nbsp;$194046 |
| &nbsp;&nbsp;&nbsp;Lifco AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;12131 | &nbsp;&nbsp;&nbsp;&nbsp; 433230 |
| &nbsp;&nbsp;&nbsp;Nibe Industrier AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;79153 | &nbsp;&nbsp;&nbsp;&nbsp; 364827 |
| &nbsp;&nbsp;&nbsp;Saab AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;16625 | &nbsp;&nbsp;&nbsp;&nbsp; 906378 |
| &nbsp;&nbsp;&nbsp;Sagax AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;11478 | &nbsp;&nbsp;&nbsp;&nbsp; 243413 |
| &nbsp;&nbsp;&nbsp;Sandvik AB | &nbsp;&nbsp;&nbsp;&nbsp;55488 | &nbsp;&nbsp;&nbsp;&nbsp; 1355847 |
| &nbsp;&nbsp;&nbsp;Securitas AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;25687 | &nbsp;&nbsp;&nbsp;&nbsp; 381792 |
| &nbsp;&nbsp;&nbsp;Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;82362 | &nbsp;&nbsp;&nbsp;&nbsp; 1442076 |
| &nbsp;&nbsp;&nbsp;Skanska AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;17773 | &nbsp;&nbsp;&nbsp;&nbsp; 414130 |
| &nbsp;&nbsp;&nbsp;SKF AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;17815 | &nbsp;&nbsp;&nbsp;&nbsp; 416201 |
| &nbsp;&nbsp;&nbsp;Svenska Cellulosa AB SCA, Class B | &nbsp;&nbsp;&nbsp;&nbsp;31531 | &nbsp;&nbsp;&nbsp;&nbsp; 395698 |
| &nbsp;&nbsp;&nbsp;Svenska Handelsbanken AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;75703 | &nbsp;&nbsp;&nbsp;&nbsp; 925674 |
| &nbsp;&nbsp;&nbsp;Swedbank AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;44065 | &nbsp;&nbsp;&nbsp;&nbsp; 1175307 |
| &nbsp;&nbsp;&nbsp;Swedish Orphan Biovitrum AB† | &nbsp;&nbsp;&nbsp;&nbsp;10226 | &nbsp;&nbsp;&nbsp;&nbsp; 281628 |
| &nbsp;&nbsp;&nbsp;Tele2 AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;28413 | &nbsp;&nbsp;&nbsp;&nbsp; 439144 |
| &nbsp;&nbsp;&nbsp;Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp;&nbsp;&nbsp;144176 | &nbsp;&nbsp;&nbsp;&nbsp; 1050695 |
| &nbsp;&nbsp;&nbsp;Telia Co. AB | &nbsp;&nbsp;&nbsp;&nbsp;122450 | &nbsp;&nbsp;&nbsp;&nbsp; 432923 |
| &nbsp;&nbsp;&nbsp;Trelleborg AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;10579 | &nbsp;&nbsp;&nbsp;&nbsp; 384937 |
| &nbsp;&nbsp;&nbsp;Volvo AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;82445 | &nbsp;&nbsp;&nbsp;&nbsp; 2368265 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;29296660 |
| **Switzerland — 9.6%** | **Switzerland — 9.6%** | **Switzerland — 9.6%** |
| &nbsp;&nbsp;&nbsp;ABB, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;82084 | &nbsp;&nbsp;&nbsp;&nbsp; 5408600 |
| &nbsp;&nbsp;&nbsp;Alcon AG | &nbsp;&nbsp;&nbsp;&nbsp;25935 | &nbsp;&nbsp;&nbsp;&nbsp; 2293200 |
| &nbsp;&nbsp;&nbsp;Amrize, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;27125 | &nbsp;&nbsp;&nbsp;&nbsp; 1371194 |
| &nbsp;&nbsp;&nbsp;Avolta AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4591 | &nbsp;&nbsp;&nbsp;&nbsp; 240897 |
| &nbsp;&nbsp;&nbsp;Baloise Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2139 | &nbsp;&nbsp;&nbsp;&nbsp; 514308 |
| &nbsp;&nbsp;&nbsp;Banque Cantonale Vaudoise | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1573 | &nbsp;&nbsp;&nbsp;&nbsp; 182524 |
| &nbsp;&nbsp;&nbsp;Barry Callebaut AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;&nbsp; 229419 |
| &nbsp;&nbsp;&nbsp;BKW AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1103 | &nbsp;&nbsp;&nbsp;&nbsp; 246197 |
| &nbsp;&nbsp;&nbsp;Chocoladefabriken Lindt & Spruengli AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp; 732533 |
| &nbsp;&nbsp;&nbsp;Chocoladefabriken Lindt & Spruengli AG (Participation Certificate) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 | &nbsp;&nbsp;&nbsp;&nbsp; 722709 |
| &nbsp;&nbsp;&nbsp;Cie Financiere Richemont SA, Class A | &nbsp;&nbsp;&nbsp;&nbsp;27902 | &nbsp;&nbsp;&nbsp;&nbsp; 4582489 |
| &nbsp;&nbsp;&nbsp;Coca-Cola HBC AG | &nbsp;&nbsp;&nbsp;&nbsp;11315 | &nbsp;&nbsp;&nbsp;&nbsp; 589657 |
| &nbsp;&nbsp;&nbsp;DSM-Firmenich AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9652 | &nbsp;&nbsp;&nbsp;&nbsp; 930976 |
| &nbsp;&nbsp;&nbsp;EMS-Chemie Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366 | &nbsp;&nbsp;&nbsp;&nbsp; 289511 |
| &nbsp;&nbsp;&nbsp;Galderma Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6791 | &nbsp;&nbsp;&nbsp;&nbsp; 1065993 |
| &nbsp;&nbsp;&nbsp;Geberit AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1740 | &nbsp;&nbsp;&nbsp;&nbsp; 1336731 |
| &nbsp;&nbsp;&nbsp;Givaudan SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479 | &nbsp;&nbsp;&nbsp;&nbsp; 2011535 |
| &nbsp;&nbsp;&nbsp;Helvetia Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1939 | &nbsp;&nbsp;&nbsp;&nbsp; 468607 |
| &nbsp;&nbsp;&nbsp;Holcim AG | &nbsp;&nbsp;&nbsp;&nbsp;27052 | &nbsp;&nbsp;&nbsp;&nbsp; 2164160 |
| &nbsp;&nbsp;&nbsp;Julius Baer Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;10692 | &nbsp;&nbsp;&nbsp;&nbsp; 726885 |
| &nbsp;&nbsp;&nbsp;Kuehne & Nagel International AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2523 | &nbsp;&nbsp;&nbsp;&nbsp; 516403 |
| &nbsp;&nbsp;&nbsp;Logitech International SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7915 | &nbsp;&nbsp;&nbsp;&nbsp; 741949 |
| &nbsp;&nbsp;&nbsp;Lonza Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3759 | &nbsp;&nbsp;&nbsp;&nbsp; 2647150 |
| &nbsp;&nbsp;&nbsp;Nestle SA | &nbsp;&nbsp;&nbsp;&nbsp;135983 | &nbsp;&nbsp;&nbsp;&nbsp; 11903221 |
| &nbsp;&nbsp;&nbsp;Novartis AG | &nbsp;&nbsp;&nbsp;&nbsp;98675 | &nbsp;&nbsp;&nbsp;&nbsp; 11442534 |
| &nbsp;&nbsp;&nbsp;Partners Group Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1181 | &nbsp;&nbsp;&nbsp;&nbsp; 1601565 |
| &nbsp;&nbsp;&nbsp;Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;36464 | &nbsp;&nbsp;&nbsp;&nbsp; 11541883 |
| &nbsp;&nbsp;&nbsp;Roche Holding AG (BR) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1665 | &nbsp;&nbsp;&nbsp;&nbsp; 559202 |
| &nbsp;&nbsp;&nbsp;Sandoz Group AG | &nbsp;&nbsp;&nbsp;&nbsp;21753 | &nbsp;&nbsp;&nbsp;&nbsp; 1251484 |
| &nbsp;&nbsp;&nbsp;Schindler Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1226 | &nbsp;&nbsp;&nbsp;&nbsp; 432440 |
| &nbsp;&nbsp;&nbsp;Schindler Holding AG (Participation Certificate) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2113 | &nbsp;&nbsp;&nbsp;&nbsp; 767938 |
| &nbsp;&nbsp;&nbsp;SGS SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8383 | &nbsp;&nbsp;&nbsp;&nbsp; 854555 |
| &nbsp;&nbsp;&nbsp;SIG Group AG | &nbsp;&nbsp;&nbsp;&nbsp;15973 | &nbsp;&nbsp;&nbsp;&nbsp; 259580 |
| &nbsp;&nbsp;&nbsp;Sika AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7913 | &nbsp;&nbsp;&nbsp;&nbsp; 1876324 |
| &nbsp;&nbsp;&nbsp;Sonova Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2638 | &nbsp;&nbsp;&nbsp;&nbsp; 721979 |
| &nbsp;&nbsp;&nbsp;Straumann Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5793 | &nbsp;&nbsp;&nbsp;&nbsp; 707070 |
| &nbsp;&nbsp;&nbsp;Swatch Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1511 | &nbsp;&nbsp;&nbsp;&nbsp; 269552 |
| &nbsp;&nbsp;&nbsp;Swiss Life Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1495 | &nbsp;&nbsp;&nbsp;&nbsp; 1556751 |
| &nbsp;&nbsp;&nbsp;Swiss Prime Site AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4176 | &nbsp;&nbsp;&nbsp;&nbsp; 578907 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| &nbsp;&nbsp;&nbsp;Swiss Re AG | &nbsp;&nbsp;&nbsp;&nbsp;15697 | &nbsp;&nbsp;$2826330 |
| &nbsp;&nbsp;&nbsp;Swisscom AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1348 | &nbsp;&nbsp;&nbsp;&nbsp; 938497 |
| &nbsp;&nbsp;&nbsp;Temenos AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2945 | &nbsp;&nbsp;&nbsp;&nbsp; 265222 |
| &nbsp;&nbsp;&nbsp;UBS Group AG | &nbsp;&nbsp;&nbsp;&nbsp;170705 | &nbsp;&nbsp;&nbsp;&nbsp; 6397366 |
| &nbsp;&nbsp;&nbsp;VAT Group AG\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1405 | &nbsp;&nbsp;&nbsp;&nbsp; 497307 |
| &nbsp;&nbsp;&nbsp;Zurich Insurance Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7596 | &nbsp;&nbsp;&nbsp;&nbsp; 5205212 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;92468546 |
| **United Kingdom — 14.3%** | **United Kingdom — 14.3%** | **United Kingdom — 14.3%** |
| &nbsp;&nbsp;&nbsp;3i Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;50521 | &nbsp;&nbsp;&nbsp;&nbsp; 2769570 |
| &nbsp;&nbsp;&nbsp;Admiral Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;13513 | &nbsp;&nbsp;&nbsp;&nbsp; 609974 |
| &nbsp;&nbsp;&nbsp;Angl0d American PLC | &nbsp;&nbsp;&nbsp;&nbsp;58086 | &nbsp;&nbsp;&nbsp;&nbsp; 1647758 |
| &nbsp;&nbsp;&nbsp;Antofagasta PLC | &nbsp;&nbsp;&nbsp;&nbsp;20467 | &nbsp;&nbsp;&nbsp;&nbsp; 507348 |
| &nbsp;&nbsp;&nbsp;Ashtead Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;22421 | &nbsp;&nbsp;&nbsp;&nbsp; 1503610 |
| &nbsp;&nbsp;&nbsp;Associated British Foods PLC | &nbsp;&nbsp;&nbsp;&nbsp;16915 | &nbsp;&nbsp;&nbsp;&nbsp; 491007 |
| &nbsp;&nbsp;&nbsp;AstraZeneca PLC | &nbsp;&nbsp;&nbsp;&nbsp;80480 | &nbsp;&nbsp;&nbsp;&nbsp; 12035815 |
| &nbsp;&nbsp;&nbsp;Auto Trader Group PLC\* | &nbsp;&nbsp;&nbsp;&nbsp;45755 | &nbsp;&nbsp;&nbsp;&nbsp; 506010 |
| &nbsp;&nbsp;&nbsp;Aviva PLC | &nbsp;&nbsp;&nbsp;&nbsp;158505 | &nbsp;&nbsp;&nbsp;&nbsp; 1357712 |
| &nbsp;&nbsp;&nbsp;BAE Systems PLC | &nbsp;&nbsp;&nbsp;&nbsp;156349 | &nbsp;&nbsp;&nbsp;&nbsp; 3724940 |
| &nbsp;&nbsp;&nbsp;Barclays PLC | &nbsp;&nbsp;&nbsp;&nbsp;742275 | &nbsp;&nbsp;&nbsp;&nbsp; 3639799 |
| &nbsp;&nbsp;&nbsp;Barratt Redrow PLC | &nbsp;&nbsp;&nbsp;&nbsp;71274 | &nbsp;&nbsp;&nbsp;&nbsp; 352133 |
| &nbsp;&nbsp;&nbsp;BP PLC | &nbsp;&nbsp;&nbsp;&nbsp;831325 | &nbsp;&nbsp;&nbsp;&nbsp; 4443707 |
| &nbsp;&nbsp;&nbsp;British American Tobacco PLC | &nbsp;&nbsp;&nbsp;&nbsp;102816 | &nbsp;&nbsp;&nbsp;&nbsp; 5485671 |
| &nbsp;&nbsp;&nbsp;BT Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;310067 | &nbsp;&nbsp;&nbsp;&nbsp; 848054 |
| &nbsp;&nbsp;&nbsp;Bunzl PLC | &nbsp;&nbsp;&nbsp;&nbsp;17048 | &nbsp;&nbsp;&nbsp;&nbsp; 507475 |
| &nbsp;&nbsp;&nbsp;Centrica PLC | &nbsp;&nbsp;&nbsp;&nbsp;261574 | &nbsp;&nbsp;&nbsp;&nbsp; 568607 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Europacific Partners PLC | &nbsp;&nbsp;&nbsp;&nbsp;11958 | &nbsp;&nbsp;&nbsp;&nbsp; 1158969 |
| &nbsp;&nbsp;&nbsp;Compass Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;88100 | &nbsp;&nbsp;&nbsp;&nbsp; 3100707 |
| &nbsp;&nbsp;&nbsp;Croda International PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6928 | &nbsp;&nbsp;&nbsp;&nbsp; 238984 |
| &nbsp;&nbsp;&nbsp;Diageo PLC | &nbsp;&nbsp;&nbsp;&nbsp;115496 | &nbsp;&nbsp;&nbsp;&nbsp; 2826377 |
| &nbsp;&nbsp;&nbsp;GSK PLC | &nbsp;&nbsp;&nbsp;&nbsp;213642 | &nbsp;&nbsp;&nbsp;&nbsp; 4000834 |
| &nbsp;&nbsp;&nbsp;Haleon PLC | &nbsp;&nbsp;&nbsp;&nbsp;468395 | &nbsp;&nbsp;&nbsp;&nbsp; 2223816 |
| &nbsp;&nbsp;&nbsp;Halma PLC | &nbsp;&nbsp;&nbsp;&nbsp;19704 | &nbsp;&nbsp;&nbsp;&nbsp; 846238 |
| &nbsp;&nbsp;&nbsp;Hikma Pharmaceuticals PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8692 | &nbsp;&nbsp;&nbsp;&nbsp; 225449 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;917269 | &nbsp;&nbsp;&nbsp;&nbsp; 11178717 |
| &nbsp;&nbsp;&nbsp;Imperial Brands PLC | &nbsp;&nbsp;&nbsp;&nbsp;40601 | &nbsp;&nbsp;&nbsp;&nbsp; 1583926 |
| &nbsp;&nbsp;&nbsp;Informa PLC | &nbsp;&nbsp;&nbsp;&nbsp;68462 | &nbsp;&nbsp;&nbsp;&nbsp; 784977 |
| &nbsp;&nbsp;&nbsp;InterContinental Hotels Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7696 | &nbsp;&nbsp;&nbsp;&nbsp; 890749 |
| &nbsp;&nbsp;&nbsp;Intertek Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8311 | &nbsp;&nbsp;&nbsp;&nbsp; 542210 |
| &nbsp;&nbsp;&nbsp;J Sainsbury PLC | &nbsp;&nbsp;&nbsp;&nbsp;91624 | &nbsp;&nbsp;&nbsp;&nbsp; 367124 |
| &nbsp;&nbsp;&nbsp;JD Sports Fashion PLC | &nbsp;&nbsp;&nbsp;&nbsp;135355 | &nbsp;&nbsp;&nbsp;&nbsp; 152765 |
| &nbsp;&nbsp;&nbsp;Kingfisher PLC | &nbsp;&nbsp;&nbsp;&nbsp;93050 | &nbsp;&nbsp;&nbsp;&nbsp; 332408 |
| &nbsp;&nbsp;&nbsp;Land Securities Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;36962 | &nbsp;&nbsp;&nbsp;&nbsp; 281900 |
| &nbsp;&nbsp;&nbsp;Legal & General Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;304785 | &nbsp;&nbsp;&nbsp;&nbsp; 1033657 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group PLC | 3121762 | &nbsp;&nbsp;&nbsp;&nbsp; 3207503 |
| &nbsp;&nbsp;&nbsp;London Stock Exchange Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;24737 | &nbsp;&nbsp;&nbsp;&nbsp; 3025141 |
| &nbsp;&nbsp;&nbsp;M&G PLC | &nbsp;&nbsp;&nbsp;&nbsp;119268 | &nbsp;&nbsp;&nbsp;&nbsp; 412049 |
| &nbsp;&nbsp;&nbsp;Marks & Spencer Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;106669 | &nbsp;&nbsp;&nbsp;&nbsp; 490236 |
| &nbsp;&nbsp;&nbsp;Melrose Industries PLC | &nbsp;&nbsp;&nbsp;&nbsp;66367 | &nbsp;&nbsp;&nbsp;&nbsp; 448931 |
| &nbsp;&nbsp;&nbsp;Mondi PLC | &nbsp;&nbsp;&nbsp;&nbsp;23055 | &nbsp;&nbsp;&nbsp;&nbsp; 312849 |
| &nbsp;&nbsp;&nbsp;National Grid PLC | &nbsp;&nbsp;&nbsp;&nbsp;254170 | &nbsp;&nbsp;&nbsp;&nbsp; 3558097 |
| &nbsp;&nbsp;&nbsp;NatWest Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;419266 | &nbsp;&nbsp;&nbsp;&nbsp; 2918018 |
| &nbsp;&nbsp;&nbsp;Next PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6058 | &nbsp;&nbsp;&nbsp;&nbsp; 984861 |
| &nbsp;&nbsp;&nbsp;Pearson PLC | &nbsp;&nbsp;&nbsp;&nbsp;30995 | &nbsp;&nbsp;&nbsp;&nbsp; 439012 |
| &nbsp;&nbsp;&nbsp;Phoenix Group Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;36674 | &nbsp;&nbsp;&nbsp;&nbsp; 321599 |
| &nbsp;&nbsp;&nbsp;Prudential PLC | &nbsp;&nbsp;&nbsp;&nbsp;135425 | &nbsp;&nbsp;&nbsp;&nbsp; 1723747 |
| &nbsp;&nbsp;&nbsp;Reckitt Benckiser Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;35390 | &nbsp;&nbsp;&nbsp;&nbsp; 2650968 |
| &nbsp;&nbsp;&nbsp;RELX PLC | &nbsp;&nbsp;&nbsp;&nbsp;95879 | &nbsp;&nbsp;&nbsp;&nbsp; 4983865 |
| &nbsp;&nbsp;&nbsp;Rentokil Initial PLC | &nbsp;&nbsp;&nbsp;&nbsp;131029 | &nbsp;&nbsp;&nbsp;&nbsp; 656700 |
| &nbsp;&nbsp;&nbsp;Rio Tinto PLC | &nbsp;&nbsp;&nbsp;&nbsp;58575 | &nbsp;&nbsp;&nbsp;&nbsp; 3483775 |
| &nbsp;&nbsp;&nbsp;Rolls-Royce Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;440016 | &nbsp;&nbsp;&nbsp;&nbsp; 6229468 |
| &nbsp;&nbsp;&nbsp;Sage Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;50972 | &nbsp;&nbsp;&nbsp;&nbsp; 821257 |
| &nbsp;&nbsp;&nbsp;Schroders PLC | &nbsp;&nbsp;&nbsp;&nbsp;37884 | &nbsp;&nbsp;&nbsp;&nbsp; 195623 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA International Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **United Kingdom (continued)** | **United Kingdom (continued)** |  |
| &nbsp;&nbsp;&nbsp;Segro PLC | &nbsp;&nbsp;&nbsp;&nbsp;66731 | &nbsp;&nbsp;$570543 |
| &nbsp;&nbsp;&nbsp;Severn Trent PLC | &nbsp;&nbsp;&nbsp;&nbsp;14061 | &nbsp;&nbsp;&nbsp;&nbsp; 491910 |
| &nbsp;&nbsp;&nbsp;Shell PLC | &nbsp;&nbsp;&nbsp;&nbsp;310684 | &nbsp;&nbsp;&nbsp;&nbsp; 11123362 |
| &nbsp;&nbsp;&nbsp;Smith & Nephew PLC | &nbsp;&nbsp;&nbsp;&nbsp;43189 | &nbsp;&nbsp;&nbsp;&nbsp; 663061 |
| &nbsp;&nbsp;&nbsp;Smiths Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;17467 | &nbsp;&nbsp;&nbsp;&nbsp; 542554 |
| &nbsp;&nbsp;&nbsp;Spirax Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3845 | &nbsp;&nbsp;&nbsp;&nbsp; 322193 |
| &nbsp;&nbsp;&nbsp;SSE PLC | &nbsp;&nbsp;&nbsp;&nbsp;57419 | &nbsp;&nbsp;&nbsp;&nbsp; 1401725 |
| &nbsp;&nbsp;&nbsp;Standard Chartered PLC | &nbsp;&nbsp;&nbsp;&nbsp;104775 | &nbsp;&nbsp;&nbsp;&nbsp; 1882539 |
| &nbsp;&nbsp;&nbsp;Tesco PLC | &nbsp;&nbsp;&nbsp;&nbsp;349219 | &nbsp;&nbsp;&nbsp;&nbsp; 1961928 |
| &nbsp;&nbsp;&nbsp;Unilever PLC | &nbsp;&nbsp;&nbsp;&nbsp;129835 | &nbsp;&nbsp;&nbsp;&nbsp; 7558246 |
| &nbsp;&nbsp;&nbsp;United Utilities Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;35391 | &nbsp;&nbsp;&nbsp;&nbsp; 526984 |
| &nbsp;&nbsp;&nbsp;Vodafone Group PLC | 1035251 | &nbsp;&nbsp;&nbsp;&nbsp; 1121381 |
| &nbsp;&nbsp;&nbsp;Whitbread PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9214 | &nbsp;&nbsp;&nbsp;&nbsp; 371503 |
| &nbsp;&nbsp;&nbsp;Wise PLC, Class A† | &nbsp;&nbsp;&nbsp;&nbsp;34673 | &nbsp;&nbsp;&nbsp;&nbsp; 464778 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;138635403 |
| **Total Long-Term Investment Securities<br> (cost $719,201,575)** |  | &nbsp;&nbsp;&nbsp;&nbsp;959524760 |
| **SHORT-TERM INVESTMENTS — 0.0%** | **SHORT-TERM INVESTMENTS — 0.0%** |  |
| **Unaffiliated Investment Companies — 0.0%** | **Unaffiliated Investment Companies — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(1)<br> (cost $2,943) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2943 | &nbsp;&nbsp;&nbsp;&nbsp; 2943 |
| **TOTAL INVESTMENTS<br> (cost $719,204,518)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.3% | &nbsp;&nbsp;&nbsp;&nbsp;959527703 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7069582 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$966597285 |

---

---

| | |
|:---|:---|
| † | &nbsp;&nbsp;Non-income producing security |
| \* | &nbsp;&nbsp;Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The SA International Index Portfolio has no right to demand registration of these securities. At July 31, 2025, the aggregate value of these securities was $11,814,631 representing 1.2% of net assets. |

---

(1) The rate shown is the 7-day yield as of July 31, 2025.

(2) See Note 4 for cost of investments on a tax basis.

---

| |
|:---|
| ADR—American Depositary Receipt |
| ASX—Australian Stock Exchange |
| BR—Bearer Shares |
| CDI—CHESS Depositary Interest |
| CVA—Certification Van Aandelen (Dutch Cert.) |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** |
| **Counterparty** | &nbsp;&nbsp;**Underlying<br> Reference** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Financing<br> Rate** | &nbsp;&nbsp;**Payment<br> Frequency** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Notional<br> Amount** | &nbsp;&nbsp;**Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value** |
| **Spain** |  |  |  |  |  |  |  |  |
| Goldman Sachs International | &nbsp;&nbsp;Redeia Corp. SA | &nbsp;&nbsp;21195 | &nbsp;&nbsp;2.18% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;08/19/2026 | &nbsp;&nbsp;$435951 | &nbsp;&nbsp;$(18867) | &nbsp;&nbsp;$(18867) |
| **France** |  |  |  |  |  |  |  |  |
| BNP Paribas SA | &nbsp;&nbsp;Hong Kong Exchanges & Clearing, Ltd. | &nbsp;&nbsp; 1400 | &nbsp;&nbsp;0.83 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;05/24/2027 | &nbsp;&nbsp;&nbsp; 76224 | &nbsp;&nbsp;&nbsp; (71) | &nbsp;&nbsp;&nbsp; (71) |
|  |  |  |  |  |  |  | &nbsp;&nbsp;$(18938) | &nbsp;&nbsp;$(18938) |

---

#### Futures Contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number<br> of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Expiration<br> Month** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Basis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Value\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation** |
| 7 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;FTSE 100 Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$841877 | &nbsp;&nbsp;&nbsp;&nbsp;$843473 | &nbsp;&nbsp;&nbsp;&nbsp;$1596 |
| 5 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;SGX Nikkei 225 Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4111 |
| 4 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;SPI 200 Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5503 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$11210 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA International Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

#### Futures Contracts — (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Numberof<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**ExpirationMonth** | &nbsp;&nbsp;&nbsp;&nbsp;**NotionalBasis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**NotionalValue\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
| 27 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;Euro STOXX 50 Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$1658470 | &nbsp;&nbsp;&nbsp;&nbsp;$1645381 | &nbsp;&nbsp;&nbsp;&nbsp;$(13089) |
|  |  | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) |  | &nbsp;&nbsp;&nbsp;&nbsp;$(1879) |

---

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

---

| | |
|:---|:---|
| **Industry Allocation\*** |  |
| Banks | &nbsp;&nbsp;15.5% |
| Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;7.2 |
| Insurance | &nbsp;&nbsp;&nbsp;&nbsp;6.4 |
| Aerospace/Defense | &nbsp;&nbsp;&nbsp;&nbsp;3.5 |
| Oil & Gas | &nbsp;&nbsp;&nbsp;&nbsp;3.3 |
| Telecommunications | &nbsp;&nbsp;&nbsp;&nbsp;3.2 |
| Semiconductors | &nbsp;&nbsp;&nbsp;&nbsp;3.2 |
| Food | &nbsp;&nbsp;&nbsp;&nbsp;3.0 |
| Electric | &nbsp;&nbsp;&nbsp;&nbsp;2.9 |
| Commercial Services | &nbsp;&nbsp;&nbsp;&nbsp;2.7 |
| Auto Manufacturers | &nbsp;&nbsp;&nbsp;&nbsp;2.6 |
| Software | &nbsp;&nbsp;&nbsp;&nbsp;2.6 |
| Machinery-Construction & Mining | &nbsp;&nbsp;&nbsp;&nbsp;2.2 |
| Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;2.2 |
| Mining | &nbsp;&nbsp;&nbsp;&nbsp;2.1 |
| Healthcare-Products | &nbsp;&nbsp;&nbsp;&nbsp;2.1 |
| Retail | &nbsp;&nbsp;&nbsp;&nbsp;2.0 |
| Cosmetics/Personal Care | &nbsp;&nbsp;&nbsp;&nbsp;2.0 |
| Diversified Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;2.0 |
| Internet | &nbsp;&nbsp;&nbsp;&nbsp;1.7 |
| Distribution/Wholesale | &nbsp;&nbsp;&nbsp;&nbsp;1.7 |
| Apparel | &nbsp;&nbsp;&nbsp;&nbsp;1.6 |
| Machinery-Diversified | &nbsp;&nbsp;&nbsp;&nbsp;1.6 |
| Electronics | &nbsp;&nbsp;&nbsp;&nbsp;1.5 |
| Building Materials | &nbsp;&nbsp;&nbsp;&nbsp;1.5 |
| Beverages | &nbsp;&nbsp;&nbsp;&nbsp;1.4 |
| Miscellaneous Manufacturing | &nbsp;&nbsp;&nbsp;&nbsp;1.4 |
| Engineering & Construction | &nbsp;&nbsp;&nbsp;&nbsp;1.4 |
| Electrical Components & Equipment | &nbsp;&nbsp;&nbsp;&nbsp;1.2 |
| Transportation | &nbsp;&nbsp;&nbsp;&nbsp;1.1 |
| Computers | &nbsp;&nbsp;&nbsp;&nbsp;1.0 |
| Agriculture | &nbsp;&nbsp;&nbsp;&nbsp;1.0 |
| REITS | &nbsp;&nbsp;&nbsp;&nbsp;1.0 |
| Home Furnishings | &nbsp;&nbsp;&nbsp;&nbsp;0.9 |
| Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;0.8 |
| Real Estate | &nbsp;&nbsp;&nbsp;&nbsp;0.7 |
| Auto Parts & Equipment | &nbsp;&nbsp;&nbsp;&nbsp;0.6 |
| Toys/Games/Hobbies | &nbsp;&nbsp;&nbsp;&nbsp;0.6 |
| Private Equity | &nbsp;&nbsp;&nbsp;&nbsp;0.6 |
| Healthcare-Services | &nbsp;&nbsp;&nbsp;&nbsp;0.6 |
| Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;0.5 |
| Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;0.5 |
| Household Products/Wares | &nbsp;&nbsp;&nbsp;&nbsp;0.4 |
| Gas | &nbsp;&nbsp;&nbsp;&nbsp;0.4 |
| Iron/Steel | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Food Service | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Leisure Time | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Lodging | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Water | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Hand/Machine Tools | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Home Builders | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Office/Business Equipment | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Airlines | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Advertising | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Media | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Metal Fabricate/Hardware | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA International Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | |
|:---|:---|
| **Industry Allocation\*(continued)** |  |
| Forest Products & Paper | &nbsp;&nbsp;&nbsp;&nbsp;0.1% |
| Energy-Alternate Sources | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Shipbuilding | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Holding Companies-Diversified | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
|  | &nbsp;&nbsp;99.3% |

---

\* Calculated as a percentage of net assets

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$959524760 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$959524760 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2943 |
| **Total Investments at Value** | &nbsp;&nbsp;$959527703 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$959527703 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;$11210 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$11210 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Swaps | &nbsp;&nbsp;$— | &nbsp;&nbsp;$18938 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$18938 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13089 |
| **Total Other Financial Instruments** | &nbsp;&nbsp;$13089 | &nbsp;&nbsp;$18938 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$32027 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | &nbsp;&nbsp;Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Invesco Growth Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 98.3%** | **COMMON STOCKS — 98.3%** | **COMMON STOCKS — 98.3%** |
| **Aerospace/Defense — 4.2%** | **Aerospace/Defense — 4.2%** | **Aerospace/Defense — 4.2%** |
| &nbsp;&nbsp;&nbsp;AeroVironment, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;7766 | &nbsp;&nbsp;$2078492 |
| &nbsp;&nbsp;&nbsp;FTAI Aviation, Ltd. | 15597 | &nbsp;&nbsp;&nbsp;&nbsp; 2146303 |
| &nbsp;&nbsp;&nbsp;Kratos Defense & Security Solutions, Inc.† | 72330 | &nbsp;&nbsp;&nbsp;&nbsp; 4245771 |
| &nbsp;&nbsp;&nbsp;Loar Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;1886 | &nbsp;&nbsp;&nbsp;&nbsp; 139395 |
| &nbsp;&nbsp;&nbsp;Rocket Lab Corp.† | 72013 | &nbsp;&nbsp;&nbsp;&nbsp; 3306837 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11916798 |
| **Apparel — 1.0%** | **Apparel — 1.0%** | **Apparel — 1.0%** |
| &nbsp;&nbsp;&nbsp;Kontoor Brands, Inc. | 28866 | &nbsp;&nbsp;&nbsp;&nbsp; 1606682 |
| &nbsp;&nbsp;&nbsp;Steven Madden, Ltd. | 49897 | &nbsp;&nbsp;&nbsp;&nbsp; 1197777 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2804459 |
| **Banks — 1.8%** | **Banks — 1.8%** | **Banks — 1.8%** |
| &nbsp;&nbsp;&nbsp;Bancorp, Inc.† | 51333 | &nbsp;&nbsp;&nbsp;&nbsp; 3242192 |
| &nbsp;&nbsp;&nbsp;Western Alliance Bancorp | 23551 | &nbsp;&nbsp;&nbsp;&nbsp; 1826616 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5068808 |
| **Biotechnology — 5.3%** | **Biotechnology — 5.3%** | **Biotechnology — 5.3%** |
| &nbsp;&nbsp;&nbsp;ADMA Biologics, Inc.† | 156699 | &nbsp;&nbsp;&nbsp;&nbsp; 2930271 |
| &nbsp;&nbsp;&nbsp;Axsome Therapeutics, Inc.† | 12864 | &nbsp;&nbsp;&nbsp;&nbsp; 1304152 |
| &nbsp;&nbsp;&nbsp;Bridgebio Pharma, Inc.† | 47666 | &nbsp;&nbsp;&nbsp;&nbsp; 2253172 |
| &nbsp;&nbsp;&nbsp;Halozyme Therapeutics, Inc.† | 35044 | &nbsp;&nbsp;&nbsp;&nbsp; 2101589 |
| &nbsp;&nbsp;&nbsp;Insmed, Inc.† | 38716 | &nbsp;&nbsp;&nbsp;&nbsp; 4153453 |
| &nbsp;&nbsp;&nbsp;Soleno Therapeutics, Inc.† | 25094 | &nbsp;&nbsp;&nbsp;&nbsp; 2169878 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14912515 |
| **Building Materials — 2.0%** | **Building Materials — 2.0%** | **Building Materials — 2.0%** |
| &nbsp;&nbsp;&nbsp;Armstrong World Industries, Inc. | 13567 | &nbsp;&nbsp;&nbsp;&nbsp; 2552903 |
| &nbsp;&nbsp;&nbsp;SPX Technologies, Inc.† | 17165 | &nbsp;&nbsp;&nbsp;&nbsp; 3130724 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5683627 |
| **Chemicals — 0.7%** | **Chemicals — 0.7%** | **Chemicals — 0.7%** |
| &nbsp;&nbsp;&nbsp;Element Solutions, Inc. | 85344 | &nbsp;&nbsp;&nbsp;&nbsp; 2014118 |
| **Commercial Services — 3.9%** | **Commercial Services — 3.9%** | **Commercial Services — 3.9%** |
| &nbsp;&nbsp;&nbsp;API Group Corp.† | 83943 | &nbsp;&nbsp;&nbsp;&nbsp; 3027824 |
| &nbsp;&nbsp;&nbsp;CBIZ, Inc.† | 32015 | &nbsp;&nbsp;&nbsp;&nbsp; 1956757 |
| &nbsp;&nbsp;&nbsp;Payoneer Global, Inc.† | 198827 | &nbsp;&nbsp;&nbsp;&nbsp; 1306293 |
| &nbsp;&nbsp;&nbsp;Shift4 Payments, Inc., Class A† | 23553 | &nbsp;&nbsp;&nbsp;&nbsp; 2425959 |
| &nbsp;&nbsp;&nbsp;Stride, Inc.† | 17323 | &nbsp;&nbsp;&nbsp;&nbsp; 2221328 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10938161 |
| **Computers — 3.0%** | **Computers — 3.0%** | **Computers — 3.0%** |
| &nbsp;&nbsp;&nbsp;CyberArk Software, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;6214 | &nbsp;&nbsp;&nbsp;&nbsp; 2556875 |
| &nbsp;&nbsp;&nbsp;D-Wave Quantum, Inc.† | 37206 | &nbsp;&nbsp;&nbsp;&nbsp; 639571 |
| &nbsp;&nbsp;&nbsp;ExlService Holdings, Inc.† | 58213 | &nbsp;&nbsp;&nbsp;&nbsp; 2528191 |
| &nbsp;&nbsp;&nbsp;PAR Technology Corp.† | 44375 | &nbsp;&nbsp;&nbsp;&nbsp; 2697112 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8421749 |
| **Cosmetics/Personal Care — 0.7%** | **Cosmetics/Personal Care — 0.7%** | **Cosmetics/Personal Care — 0.7%** |
| &nbsp;&nbsp;&nbsp;Prestige Consumer Healthcare, Inc.† | 26720 | &nbsp;&nbsp;&nbsp;&nbsp; 1975944 |
| **Diversified Financial Services — 6.9%** | **Diversified Financial Services — 6.9%** | **Diversified Financial Services — 6.9%** |
| &nbsp;&nbsp;&nbsp;Evercore, Inc., Class A | 11881 | &nbsp;&nbsp;&nbsp;&nbsp; 3577844 |
| &nbsp;&nbsp;&nbsp;Hamilton Lane, Inc., Class A | 12793 | &nbsp;&nbsp;&nbsp;&nbsp; 1948374 |
| &nbsp;&nbsp;&nbsp;PennyMac Financial Services, Inc. | 28502 | &nbsp;&nbsp;&nbsp;&nbsp; 2654676 |
| &nbsp;&nbsp;&nbsp;Piper Sandler Cos. | 13211 | &nbsp;&nbsp;&nbsp;&nbsp; 4165693 |
| &nbsp;&nbsp;&nbsp;StepStone Group, Inc., Class A | 53641 | &nbsp;&nbsp;&nbsp;&nbsp; 3184130 |
| &nbsp;&nbsp;&nbsp;Upstart Holdings, Inc.† | 46970 | &nbsp;&nbsp;&nbsp;&nbsp; 3839328 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;19370045 |
| **Electric — 1.5%** | **Electric — 1.5%** | **Electric — 1.5%** |
| &nbsp;&nbsp;&nbsp;Talen Energy Corp.† | 11407 | &nbsp;&nbsp;&nbsp;&nbsp; 4306941 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Electrical Components & Equipment — 0.6%** | **Electrical Components & Equipment — 0.6%** | **Electrical Components & Equipment — 0.6%** |
| &nbsp;&nbsp;&nbsp;Hammond Power Solutions, Inc. | 18262 | &nbsp;&nbsp;$1633511 |
| **Electronics — 8.8%** | **Electronics — 8.8%** | **Electronics — 8.8%** |
| &nbsp;&nbsp;&nbsp;Advanced Energy Industries, Inc. | 15898 | &nbsp;&nbsp;&nbsp;&nbsp; 2208550 |
| &nbsp;&nbsp;&nbsp;Atmus Filtration Technologies, Inc. | 54103 | &nbsp;&nbsp;&nbsp;&nbsp; 2105148 |
| &nbsp;&nbsp;&nbsp;ESCO Technologies, Inc. | 12687 | &nbsp;&nbsp;&nbsp;&nbsp; 2457472 |
| &nbsp;&nbsp;&nbsp;Itron, Inc.† | 22425 | &nbsp;&nbsp;&nbsp;&nbsp; 2792809 |
| &nbsp;&nbsp;&nbsp;Mirion Technologies, Inc.† | 113596 | &nbsp;&nbsp;&nbsp;&nbsp; 2538871 |
| &nbsp;&nbsp;&nbsp;nVent Electric PLC | 37319 | &nbsp;&nbsp;&nbsp;&nbsp; 2926556 |
| &nbsp;&nbsp;&nbsp;OSI Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;6133 | &nbsp;&nbsp;&nbsp;&nbsp; 1355454 |
| &nbsp;&nbsp;&nbsp;Sanmina Corp.† | 50044 | &nbsp;&nbsp;&nbsp;&nbsp; 5807106 |
| &nbsp;&nbsp;&nbsp;TTM Technologies, Inc.† | 53849 | &nbsp;&nbsp;&nbsp;&nbsp; 2544365 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;24736331 |
| **Engineering & Construction — 3.5%** | **Engineering & Construction — 3.5%** | **Engineering & Construction — 3.5%** |
| &nbsp;&nbsp;&nbsp;Construction Partners, Inc., Class A† | 23400 | &nbsp;&nbsp;&nbsp;&nbsp; 2359890 |
| &nbsp;&nbsp;&nbsp;Everus Construction Group, Inc.† | 40508 | &nbsp;&nbsp;&nbsp;&nbsp; 3008124 |
| &nbsp;&nbsp;&nbsp;Limbach Holdings, Inc.† | 15225 | &nbsp;&nbsp;&nbsp;&nbsp; 2085825 |
| &nbsp;&nbsp;&nbsp;Sterling Infrastructure, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;9253 | &nbsp;&nbsp;&nbsp;&nbsp; 2476010 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9929849 |
| **Environmental Control — 2.4%** | **Environmental Control — 2.4%** | **Environmental Control — 2.4%** |
| &nbsp;&nbsp;&nbsp;Casella Waste Systems, Inc., Class A† | 21483 | &nbsp;&nbsp;&nbsp;&nbsp; 2335847 |
| &nbsp;&nbsp;&nbsp;Clean Harbors, Inc.† | 18594 | &nbsp;&nbsp;&nbsp;&nbsp; 4384651 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6720498 |
| **Food — 0.7%** | **Food — 0.7%** | **Food — 0.7%** |
| &nbsp;&nbsp;&nbsp;Post Holdings, Inc.† | 17485 | &nbsp;&nbsp;&nbsp;&nbsp; 1850088 |
| **Healthcare-Products — 6.6%** | **Healthcare-Products — 6.6%** | **Healthcare-Products — 6.6%** |
| &nbsp;&nbsp;&nbsp;BioLife Solutions, Inc.† | 101962 | &nbsp;&nbsp;&nbsp;&nbsp; 2167712 |
| &nbsp;&nbsp;&nbsp;Glaukos Corp.† | 13390 | &nbsp;&nbsp;&nbsp;&nbsp; 1152745 |
| &nbsp;&nbsp;&nbsp;Guardant Health, Inc.† | 72537 | &nbsp;&nbsp;&nbsp;&nbsp; 2972566 |
| &nbsp;&nbsp;&nbsp;Integer Holdings Corp.† | 21804 | &nbsp;&nbsp;&nbsp;&nbsp; 2365952 |
| &nbsp;&nbsp;&nbsp;Lantheus Holdings, Inc.† | 32611 | &nbsp;&nbsp;&nbsp;&nbsp; 2321577 |
| &nbsp;&nbsp;&nbsp;Merit Medical Systems, Inc.† | 29704 | &nbsp;&nbsp;&nbsp;&nbsp; 2520682 |
| &nbsp;&nbsp;&nbsp;TransMedics Group, Inc.† | 27425 | &nbsp;&nbsp;&nbsp;&nbsp; 3262752 |
| &nbsp;&nbsp;&nbsp;UFP Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;7662 | &nbsp;&nbsp;&nbsp;&nbsp; 1734600 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;18498586 |
| **Healthcare-Services — 3.1%** | **Healthcare-Services — 3.1%** | **Healthcare-Services — 3.1%** |
| &nbsp;&nbsp;&nbsp;BrightSpring Health Services, Inc.† | 96468 | &nbsp;&nbsp;&nbsp;&nbsp; 1992064 |
| &nbsp;&nbsp;&nbsp;Encompass Health Corp. | 35576 | &nbsp;&nbsp;&nbsp;&nbsp; 3917273 |
| &nbsp;&nbsp;&nbsp;HealthEquity, Inc.† | 28045 | &nbsp;&nbsp;&nbsp;&nbsp; 2720365 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8629702 |
| **Home Builders — 0.5%** | **Home Builders — 0.5%** | **Home Builders — 0.5%** |
| &nbsp;&nbsp;&nbsp;Cavco Industries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;3239 | &nbsp;&nbsp;&nbsp;&nbsp; 1307487 |
| **Insurance — 1.7%** | **Insurance — 1.7%** | **Insurance — 1.7%** |
| &nbsp;&nbsp;&nbsp;Palomar Holdings, Inc.† | 12180 | &nbsp;&nbsp;&nbsp;&nbsp; 1613728 |
| &nbsp;&nbsp;&nbsp;Root, Inc., Class A† | 12984 | &nbsp;&nbsp;&nbsp;&nbsp; 1571454 |
| &nbsp;&nbsp;&nbsp;Skyward Specialty Insurance Group, Inc.† | 33317 | &nbsp;&nbsp;&nbsp;&nbsp; 1685174 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4870356 |
| **Internet — 2.6%** | **Internet — 2.6%** | **Internet — 2.6%** |
| &nbsp;&nbsp;&nbsp;Cargurus, Inc.† | 59993 | &nbsp;&nbsp;&nbsp;&nbsp; 1968970 |
| &nbsp;&nbsp;&nbsp;Maplebear, Inc.† | 57520 | &nbsp;&nbsp;&nbsp;&nbsp; 2759235 |
| &nbsp;&nbsp;&nbsp;Q2 Holdings, Inc.† | 31205 | &nbsp;&nbsp;&nbsp;&nbsp; 2533846 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7262051 |
| **Iron/Steel — 1.6%** | **Iron/Steel — 1.6%** | **Iron/Steel — 1.6%** |
| &nbsp;&nbsp;&nbsp;Carpenter Technology Corp. | 17915 | &nbsp;&nbsp;&nbsp;&nbsp; 4467822 |
| **Leisure Time — 0.9%** | **Leisure Time — 0.9%** | **Leisure Time — 0.9%** |
| &nbsp;&nbsp;&nbsp;Planet Fitness, Inc., Class A† | 23648 | &nbsp;&nbsp;&nbsp;&nbsp; 2582125 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Invesco Growth Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Lodging — 1.2%** | **Lodging — 1.2%** | **Lodging — 1.2%** |
| &nbsp;&nbsp;&nbsp;Travel & Leisure Co. | 29221 | &nbsp;&nbsp;$1731344 |
| &nbsp;&nbsp;&nbsp;Wyndham Hotels & Resorts, Inc. | 19920 | &nbsp;&nbsp;&nbsp;&nbsp; 1713120 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3444464 |
| **Machinery-Construction & Mining — 0.9%** | **Machinery-Construction & Mining — 0.9%** | **Machinery-Construction & Mining — 0.9%** |
| &nbsp;&nbsp;&nbsp;BWX Technologies, Inc. | 17597 | &nbsp;&nbsp;&nbsp;&nbsp; 2673512 |
| **Machinery-Diversified — 4.0%** | **Machinery-Diversified — 4.0%** | **Machinery-Diversified — 4.0%** |
| &nbsp;&nbsp;&nbsp;Applied Industrial Technologies, Inc. | 11646 | &nbsp;&nbsp;&nbsp;&nbsp; 3161889 |
| &nbsp;&nbsp;&nbsp;Esab Corp. | 22251 | &nbsp;&nbsp;&nbsp;&nbsp; 2985417 |
| &nbsp;&nbsp;&nbsp;Regal Rexnord Corp. | 14740 | &nbsp;&nbsp;&nbsp;&nbsp; 2253451 |
| &nbsp;&nbsp;&nbsp;Zurn Elkay Water Solutions Corp. | 65334 | &nbsp;&nbsp;&nbsp;&nbsp; 2891029 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11291786 |
| **Metal Fabricate/Hardware — 2.1%** | **Metal Fabricate/Hardware — 2.1%** | **Metal Fabricate/Hardware — 2.1%** |
| &nbsp;&nbsp;&nbsp;Mueller Industries, Inc. | 26382 | &nbsp;&nbsp;&nbsp;&nbsp; 2252231 |
| &nbsp;&nbsp;&nbsp;RBC Bearings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;9254 | &nbsp;&nbsp;&nbsp;&nbsp; 3584445 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5836676 |
| **Mining — 1.1%** | **Mining — 1.1%** | **Mining — 1.1%** |
| &nbsp;&nbsp;&nbsp;MP Materials Corp.† | 51752 | &nbsp;&nbsp;&nbsp;&nbsp; 3182748 |
| **Miscellaneous Manufacturing — 3.7%** | **Miscellaneous Manufacturing — 3.7%** | **Miscellaneous Manufacturing — 3.7%** |
| &nbsp;&nbsp;&nbsp;Enpro, Inc. | 12548 | &nbsp;&nbsp;&nbsp;&nbsp; 2665321 |
| &nbsp;&nbsp;&nbsp;Fabrinet† | 13157 | &nbsp;&nbsp;&nbsp;&nbsp; 4259316 |
| &nbsp;&nbsp;&nbsp;Federal Signal Corp. | 28576 | &nbsp;&nbsp;&nbsp;&nbsp; 3616864 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10541501 |
| **Oil & Gas — 1.2%** | **Oil & Gas — 1.2%** | **Oil & Gas — 1.2%** |
| &nbsp;&nbsp;&nbsp;Antero Resources Corp.† | 48577 | &nbsp;&nbsp;&nbsp;&nbsp; 1696794 |
| &nbsp;&nbsp;&nbsp;Range Resources Corp. | 44337 | &nbsp;&nbsp;&nbsp;&nbsp; 1628055 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3324849 |
| **Oil & Gas Services — 0.9%** | **Oil & Gas Services — 0.9%** | **Oil & Gas Services — 0.9%** |
| &nbsp;&nbsp;&nbsp;TechnipFMC PLC | 68413 | &nbsp;&nbsp;&nbsp;&nbsp; 2488181 |
| **Pharmaceuticals — 1.8%** | **Pharmaceuticals — 1.8%** | **Pharmaceuticals — 1.8%** |
| &nbsp;&nbsp;&nbsp;Ascendis Pharma A/S ADR† | 16153 | &nbsp;&nbsp;&nbsp;&nbsp; 2802545 |
| &nbsp;&nbsp;&nbsp;Madrigal Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;7829 | &nbsp;&nbsp;&nbsp;&nbsp; 2368351 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5170896 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Retail — 6.0%** | **Retail — 6.0%** |  |
| &nbsp;&nbsp;&nbsp;Boot Barn Holdings, Inc.† | 22424 | &nbsp;&nbsp;$3854686 |
| &nbsp;&nbsp;&nbsp;Floor & Decor Holdings, Inc., Class A† | 26257 | &nbsp;&nbsp;&nbsp;&nbsp; 2012336 |
| &nbsp;&nbsp;&nbsp;Ollie's Bargain Outlet Holdings, Inc.† | 30652 | &nbsp;&nbsp;&nbsp;&nbsp; 4187983 |
| &nbsp;&nbsp;&nbsp;Shake Shack, Inc., Class A† | 27186 | &nbsp;&nbsp;&nbsp;&nbsp; 3271563 |
| &nbsp;&nbsp;&nbsp;Texas Roadhouse, Inc. | 10711 | &nbsp;&nbsp;&nbsp;&nbsp; 1982927 |
| &nbsp;&nbsp;&nbsp;Wingstop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4294 | &nbsp;&nbsp;&nbsp;&nbsp; 1620298 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;16929793 |
| **Semiconductors — 4.7%** | **Semiconductors — 4.7%** |  |
| &nbsp;&nbsp;&nbsp;Impinj, Inc.† | 25953 | &nbsp;&nbsp;&nbsp;&nbsp; 4011815 |
| &nbsp;&nbsp;&nbsp;Lattice Semiconductor Corp.† | 44624 | &nbsp;&nbsp;&nbsp;&nbsp; 2223614 |
| &nbsp;&nbsp;&nbsp;MACOM Technology Solutions Holdings, Inc.† | 29498 | &nbsp;&nbsp;&nbsp;&nbsp; 4045355 |
| &nbsp;&nbsp;&nbsp;SiTime Corp.† | 14895 | &nbsp;&nbsp;&nbsp;&nbsp; 3021451 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;13302235 |
| **Software — 6.7%** | **Software — 6.7%** |  |
| &nbsp;&nbsp;&nbsp;Agilysys, Inc.† | 27412 | &nbsp;&nbsp;&nbsp;&nbsp; 3127161 |
| &nbsp;&nbsp;&nbsp;Alignment Healthcare, Inc.† | 11320 | &nbsp;&nbsp;&nbsp;&nbsp; 155990 |
| &nbsp;&nbsp;&nbsp;AvePoint, Inc.† | 144213 | &nbsp;&nbsp;&nbsp;&nbsp; 2751584 |
| &nbsp;&nbsp;&nbsp;Box, Inc., Class A† | 35281 | &nbsp;&nbsp;&nbsp;&nbsp; 1132520 |
| &nbsp;&nbsp;&nbsp;Cellebrite DI, Ltd.† | 109673 | &nbsp;&nbsp;&nbsp;&nbsp; 1533228 |
| &nbsp;&nbsp;&nbsp;Clearwater Analytics Holdings, Inc., Class A† | 98192 | &nbsp;&nbsp;&nbsp;&nbsp; 1989370 |
| &nbsp;&nbsp;&nbsp;Commvault Systems, Inc.† | 18598 | &nbsp;&nbsp;&nbsp;&nbsp; 3532690 |
| &nbsp;&nbsp;&nbsp;Figma, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;3366 | &nbsp;&nbsp;&nbsp;&nbsp; 388773 |
| &nbsp;&nbsp;&nbsp;Genius Sports, Ltd.† | 181124 | &nbsp;&nbsp;&nbsp;&nbsp; 2037645 |
| &nbsp;&nbsp;&nbsp;ServiceTitan, Inc., Class A† | 19946 | &nbsp;&nbsp;&nbsp;&nbsp; 2327898 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;18976859 |
| **TOTAL INVESTMENTS<br> (cost $229,884,539)(1)** | &nbsp;&nbsp;&nbsp;&nbsp;98.3% | &nbsp;&nbsp;&nbsp;&nbsp;277065071 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4770284 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$281835355 |

---

† Non-income producing security

(1) See Note 4 for cost of investments on a tax basis.

ADR—American Depositary Receipt

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$277065071 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$277065071 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Janus Focused Growth Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.3%** | **COMMON STOCKS — 99.3%** | **COMMON STOCKS — 99.3%** |
| **Aerospace/Defense — 3.6%** | **Aerospace/Defense — 3.6%** | **Aerospace/Defense — 3.6%** |
| &nbsp;&nbsp;&nbsp;Boeing Co.† | &nbsp;&nbsp;&nbsp;&nbsp;22903 | &nbsp;&nbsp;$5080802 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;75911 | &nbsp;&nbsp;&nbsp;&nbsp; 13646520 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;18727322 |
| **Beverages — 1.7%** | **Beverages — 1.7%** | **Beverages — 1.7%** |
| &nbsp;&nbsp;&nbsp;Monster Beverage Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;155883 | &nbsp;&nbsp;&nbsp;&nbsp; 9158126 |
| **Biotechnology — 2.5%** | **Biotechnology — 2.5%** | **Biotechnology — 2.5%** |
| &nbsp;&nbsp;&nbsp;Argenx SE ADR† | &nbsp;&nbsp;&nbsp;&nbsp;12244 | &nbsp;&nbsp;&nbsp;&nbsp; 8207520 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10296 | &nbsp;&nbsp;&nbsp;&nbsp; 4703934 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;12911454 |
| **Computers — 3.5%** | **Computers — 3.5%** | **Computers — 3.5%** |
| &nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;87823 | &nbsp;&nbsp;&nbsp;&nbsp; 18229420 |
| **Diversified Financial Services — 4.9%** | **Diversified Financial Services — 4.9%** | **Diversified Financial Services — 4.9%** |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36732 | &nbsp;&nbsp;&nbsp;&nbsp; 6789175 |
| &nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;33036 | &nbsp;&nbsp;&nbsp;&nbsp; 18713903 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;25503078 |
| **Electrical Components & Equipment — 2.1%** | **Electrical Components & Equipment — 2.1%** | **Electrical Components & Equipment — 2.1%** |
| &nbsp;&nbsp;&nbsp;Eaton Corp. PLC | &nbsp;&nbsp;&nbsp;&nbsp;29289 | &nbsp;&nbsp;&nbsp;&nbsp; 11268064 |
| **Entertainment — 2.4%** | **Entertainment — 2.4%** | **Entertainment — 2.4%** |
| &nbsp;&nbsp;&nbsp;DraftKings, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;278008 | &nbsp;&nbsp;&nbsp;&nbsp; 12521480 |
| **Healthcare-Products — 2.1%** | **Healthcare-Products — 2.1%** | **Healthcare-Products — 2.1%** |
| &nbsp;&nbsp;&nbsp;Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp;54766 | &nbsp;&nbsp;&nbsp;&nbsp; 10797665 |
| **Healthcare-Services — 1.1%** | **Healthcare-Services — 1.1%** | **Healthcare-Services — 1.1%** |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22763 | &nbsp;&nbsp;&nbsp;&nbsp; 5680734 |
| **Internet — 24.3%** | **Internet — 24.3%** | **Internet — 24.3%** |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;83314 | &nbsp;&nbsp;&nbsp;&nbsp; 16067938 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;193301 | &nbsp;&nbsp;&nbsp;&nbsp; 45253697 |
| &nbsp;&nbsp;&nbsp;Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2315 | &nbsp;&nbsp;&nbsp;&nbsp; 12741899 |
| &nbsp;&nbsp;&nbsp;DoorDash, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;31790 | &nbsp;&nbsp;&nbsp;&nbsp; 7955448 |
| &nbsp;&nbsp;&nbsp;MercadoLibre, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4672 | &nbsp;&nbsp;&nbsp;&nbsp; 11090814 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;34280 | &nbsp;&nbsp;&nbsp;&nbsp; 26513523 |
| &nbsp;&nbsp;&nbsp;Shopify, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;61619 | &nbsp;&nbsp;&nbsp;&nbsp; 7530458 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;127153777 |
| **Pharmaceuticals — 3.5%** | **Pharmaceuticals — 3.5%** | **Pharmaceuticals — 3.5%** |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;17715 | &nbsp;&nbsp;&nbsp;&nbsp; 13110340 |
| &nbsp;&nbsp;&nbsp;Madrigal Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;11424 | &nbsp;&nbsp;&nbsp;&nbsp; 3455874 |
| &nbsp;&nbsp;&nbsp;Vaxcyte, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;45011 | &nbsp;&nbsp;&nbsp;&nbsp; 1528124 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;18094338 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Private Equity — 3.2%** | **Private Equity — 3.2%** |  |
| &nbsp;&nbsp;&nbsp;Blackstone, Inc. | &nbsp;&nbsp; 96433 | &nbsp;&nbsp;$16679052 |
| **REITS — 1.1%** | **REITS — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp; 27592 | &nbsp;&nbsp;&nbsp;&nbsp; 5749897 |
| **Retail — 1.1%** | **Retail — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Inc.† | &nbsp;&nbsp; 131633 | &nbsp;&nbsp;&nbsp;&nbsp; 5644423 |
| **Semiconductors — 21.6%** | **Semiconductors — 21.6%** |  |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp; 98196 | &nbsp;&nbsp;&nbsp;&nbsp; 28840165 |
| &nbsp;&nbsp;&nbsp;Marvell Technology, Inc. | &nbsp;&nbsp; 165727 | &nbsp;&nbsp;&nbsp;&nbsp; 13319479 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp; 305080 | &nbsp;&nbsp;&nbsp;&nbsp; 54264580 |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co., Ltd. ADR | &nbsp;&nbsp; 68983 | &nbsp;&nbsp;&nbsp;&nbsp; 16667672 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;113091896 |
| **Software — 20.6%** | **Software — 20.6%** |  |
| &nbsp;&nbsp;&nbsp;Datadog, Inc., Class A† | &nbsp;&nbsp; 92902 | &nbsp;&nbsp;&nbsp;&nbsp; 13004422 |
| &nbsp;&nbsp;&nbsp;HubSpot, Inc.† | &nbsp;&nbsp; 9520 | &nbsp;&nbsp;&nbsp;&nbsp; 4947068 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp; 119538 | &nbsp;&nbsp;&nbsp;&nbsp; 63773523 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp; 103051 | &nbsp;&nbsp;&nbsp;&nbsp; 26151252 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;107876265 |
| **Total Long-Term Investment Securities<br> (cost $292,963,352)** |  | &nbsp;&nbsp;&nbsp;&nbsp;519086991 |
| **SHORT-TERM INVESTMENTS — 0.8%** | **SHORT-TERM INVESTMENTS — 0.8%** |  |
| **Banks — 0.8%** | **Banks — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.29%, 08/01/2025<br> (cost $4,400,000) | $4400000 | &nbsp;&nbsp;&nbsp;&nbsp; 4399470 |
| **TOTAL INVESTMENTS<br> (cost $297,363,352)(1)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.1% | &nbsp;&nbsp;&nbsp;&nbsp;523486461 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(535559) |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$522950902 |

---

† Non-income producing security

(1) See Note 4 for cost of investments on a tax basis.

ADR—American Depositary Receipt

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$519086991 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$519086991 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;4399470 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4399470 |
| **Total Investments at Value** | &nbsp;&nbsp;$519086991 | &nbsp;&nbsp;$4399470 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$523486461 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 59.3%** | **COMMON STOCKS — 59.3%** | **COMMON STOCKS — 59.3%** |
| **Advertising — 0.1%** | **Advertising — 0.1%** | **Advertising — 0.1%** |
| &nbsp;&nbsp;&nbsp;Dentsu Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;$5945 |
| &nbsp;&nbsp;&nbsp;Omnicom Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2060 | &nbsp;&nbsp;&nbsp;&nbsp; 148423 |
| &nbsp;&nbsp;&nbsp;Publicis Groupe SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp; 23797 |
| &nbsp;&nbsp;&nbsp;WPP PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1211 | &nbsp;&nbsp;&nbsp;&nbsp; 6557 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184722 |
| **Aerospace/Defense — 1.5%** | **Aerospace/Defense — 1.5%** | **Aerospace/Defense — 1.5%** |
| &nbsp;&nbsp;&nbsp;Airbus SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1610 | &nbsp;&nbsp;&nbsp;&nbsp; 323444 |
| &nbsp;&nbsp;&nbsp;BAE Systems PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3358 | &nbsp;&nbsp;&nbsp;&nbsp; 80003 |
| &nbsp;&nbsp;&nbsp;Dassault Aviation SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp;&nbsp;&nbsp; 6528 |
| &nbsp;&nbsp;&nbsp;Elbit Systems, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp;&nbsp;&nbsp; 12000 |
| &nbsp;&nbsp;&nbsp;General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;947 | &nbsp;&nbsp;&nbsp;&nbsp; 295095 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8366 | &nbsp;&nbsp;&nbsp;&nbsp; 1503956 |
| &nbsp;&nbsp;&nbsp;IHI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp; 371688 |
| &nbsp;&nbsp;&nbsp;Kawasaki Heavy Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 14748 |
| &nbsp;&nbsp;&nbsp;Leonardo SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459 | &nbsp;&nbsp;&nbsp;&nbsp; 24760 |
| &nbsp;&nbsp;&nbsp;Melrose Industries PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1375 | &nbsp;&nbsp;&nbsp;&nbsp; 9301 |
| &nbsp;&nbsp;&nbsp;MTU Aero Engines AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp; 25033 |
| &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2063 | &nbsp;&nbsp;&nbsp;&nbsp; 1189546 |
| &nbsp;&nbsp;&nbsp;Rheinmetall AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp; 99027 |
| &nbsp;&nbsp;&nbsp;Rolls-Royce Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9587 | &nbsp;&nbsp;&nbsp;&nbsp; 135727 |
| &nbsp;&nbsp;&nbsp;RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2302 | &nbsp;&nbsp;&nbsp;&nbsp; 362726 |
| &nbsp;&nbsp;&nbsp;Saab AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423 | &nbsp;&nbsp;&nbsp;&nbsp; 23061 |
| &nbsp;&nbsp;&nbsp;Safran SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5991 | &nbsp;&nbsp;&nbsp;&nbsp; 1979290 |
| &nbsp;&nbsp;&nbsp;Singapore Technologies Engineering, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp; 11483 |
| &nbsp;&nbsp;&nbsp;Thales SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103 | &nbsp;&nbsp;&nbsp;&nbsp; 27717 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6495133 |
| **Agriculture — 0.2%** | **Agriculture — 0.2%** | **Agriculture — 0.2%** |
| &nbsp;&nbsp;&nbsp;British American Tobacco PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2273 | &nbsp;&nbsp;&nbsp;&nbsp; 121274 |
| &nbsp;&nbsp;&nbsp;Imperial Brands PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949 | &nbsp;&nbsp;&nbsp;&nbsp; 37022 |
| &nbsp;&nbsp;&nbsp;Japan Tobacco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp; 40088 |
| &nbsp;&nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3074 | &nbsp;&nbsp;&nbsp;&nbsp; 504290 |
| &nbsp;&nbsp;&nbsp;Wilmar International, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3700 | &nbsp;&nbsp;&nbsp;&nbsp; 8406 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711080 |
| **Airlines — 0.1%** | **Airlines — 0.1%** | **Airlines — 0.1%** |
| &nbsp;&nbsp;&nbsp;ANA Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 3724 |
| &nbsp;&nbsp;&nbsp;International Consolidated Airlines Group SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3993 | &nbsp;&nbsp;&nbsp;&nbsp; 20065 |
| &nbsp;&nbsp;&nbsp;Japan Airlines Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 5986 |
| &nbsp;&nbsp;&nbsp;Qantas Airways, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp;&nbsp;&nbsp; 5309 |
| &nbsp;&nbsp;&nbsp;Singapore Airlines, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp; 6285 |
| &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4873 | &nbsp;&nbsp;&nbsp;&nbsp; 150722 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192091 |
| **Apparel — 0.4%** | **Apparel — 0.4%** | **Apparel — 0.4%** |
| &nbsp;&nbsp;&nbsp;adidas AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp;&nbsp; 39315 |
| &nbsp;&nbsp;&nbsp;Asics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp; 18928 |
| &nbsp;&nbsp;&nbsp;Columbia Sportswear Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp;&nbsp;&nbsp; 36205 |
| &nbsp;&nbsp;&nbsp;Hermes International S.C.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp;&nbsp;&nbsp; 95734 |
| &nbsp;&nbsp;&nbsp;Kering SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79 | &nbsp;&nbsp;&nbsp;&nbsp; 19519 |
| &nbsp;&nbsp;&nbsp;Kontoor Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2052 | &nbsp;&nbsp;&nbsp;&nbsp; 114214 |
| &nbsp;&nbsp;&nbsp;LPP SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp; 8907 |
| &nbsp;&nbsp;&nbsp;LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2139 | &nbsp;&nbsp;&nbsp;&nbsp; 1153018 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1485840 |
| **Auto Manufacturers — 1.2%** | **Auto Manufacturers — 1.2%** | **Auto Manufacturers — 1.2%** |
| &nbsp;&nbsp;&nbsp;Bayerische Motoren Werke AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324 | &nbsp;&nbsp;&nbsp;&nbsp; 31015 |
| &nbsp;&nbsp;&nbsp;Bayerische Motoren Werke AG (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp; 5895 |
| &nbsp;&nbsp;&nbsp;Daimler Truck Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp;&nbsp;&nbsp; 26149 |
| &nbsp;&nbsp;&nbsp;Dr. Ing. h.c. F. Porsche AG (Preference Shares)\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114 | &nbsp;&nbsp;&nbsp;&nbsp; 5808 |
| &nbsp;&nbsp;&nbsp;Ferrari NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142 | &nbsp;&nbsp;&nbsp;&nbsp; 62438 |
| &nbsp;&nbsp;&nbsp;Honda Motor Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4900 | &nbsp;&nbsp;&nbsp;&nbsp; 50982 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** |
| &nbsp;&nbsp;&nbsp;Isuzu Motors, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;$7749 |
| &nbsp;&nbsp;&nbsp;Kia Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4947 | &nbsp;&nbsp;&nbsp;&nbsp; 364925 |
| &nbsp;&nbsp;&nbsp;Mercedes-Benz Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812 | &nbsp;&nbsp;&nbsp;&nbsp; 46425 |
| &nbsp;&nbsp;&nbsp;Nissan Motor Co., Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp; 5332 |
| &nbsp;&nbsp;&nbsp;Stellantis NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2282 | &nbsp;&nbsp;&nbsp;&nbsp; 20217 |
| &nbsp;&nbsp;&nbsp;Subaru Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp; 11059 |
| &nbsp;&nbsp;&nbsp;Suzuki Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp; 24312 |
| &nbsp;&nbsp;&nbsp;Tesla, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7384 | &nbsp;&nbsp;&nbsp;&nbsp; 2276266 |
| &nbsp;&nbsp;&nbsp;Toyota Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13200 | &nbsp;&nbsp;&nbsp;&nbsp; 236033 |
| &nbsp;&nbsp;&nbsp;Volkswagen AG (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237 | &nbsp;&nbsp;&nbsp;&nbsp; 24915 |
| &nbsp;&nbsp;&nbsp;Volvo AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219 | &nbsp;&nbsp;&nbsp;&nbsp; 6286 |
| &nbsp;&nbsp;&nbsp;Volvo AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;59137 | &nbsp;&nbsp;&nbsp;&nbsp; 1698733 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4904539 |
| **Auto Parts & Equipment — 0.3%** | **Auto Parts & Equipment — 0.3%** | **Auto Parts & Equipment — 0.3%** |
| &nbsp;&nbsp;&nbsp;Aisin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp; 8351 |
| &nbsp;&nbsp;&nbsp;Bridgestone Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 28460 |
| &nbsp;&nbsp;&nbsp;Cie Generale des Etablissements Michelin SCA | &nbsp;&nbsp;&nbsp;&nbsp;28004 | &nbsp;&nbsp;&nbsp;&nbsp; 999012 |
| &nbsp;&nbsp;&nbsp;Continental AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123 | &nbsp;&nbsp;&nbsp;&nbsp; 10556 |
| &nbsp;&nbsp;&nbsp;Denso Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp; 29995 |
| &nbsp;&nbsp;&nbsp;Gentex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6551 | &nbsp;&nbsp;&nbsp;&nbsp; 173077 |
| &nbsp;&nbsp;&nbsp;Niterra Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 6928 |
| &nbsp;&nbsp;&nbsp;Pirelli & C SpA\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;&nbsp; 2838 |
| &nbsp;&nbsp;&nbsp;Sumitomo Electric Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp; 22428 |
| &nbsp;&nbsp;&nbsp;Toyota Industries Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 21585 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1303230 |
| **Banks — 5.1%** | **Banks — 5.1%** | **Banks — 5.1%** |
| &nbsp;&nbsp;&nbsp;ANZ Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3441 | &nbsp;&nbsp;&nbsp;&nbsp; 67933 |
| &nbsp;&nbsp;&nbsp;Banca Mediolanum SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234 | &nbsp;&nbsp;&nbsp;&nbsp; 4139 |
| &nbsp;&nbsp;&nbsp;Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6603 | &nbsp;&nbsp;&nbsp;&nbsp; 110317 |
| &nbsp;&nbsp;&nbsp;Banco BPM SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1504 | &nbsp;&nbsp;&nbsp;&nbsp; 19223 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | &nbsp;&nbsp;&nbsp;&nbsp;17045 | &nbsp;&nbsp;&nbsp;&nbsp; 146588 |
| &nbsp;&nbsp;&nbsp;Bank Central Asia Tbk PT | &nbsp;&nbsp;&nbsp;&nbsp;694400 | &nbsp;&nbsp;&nbsp;&nbsp; 349205 |
| &nbsp;&nbsp;&nbsp;Bank Hapoalim BM | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1512 | &nbsp;&nbsp;&nbsp;&nbsp; 28483 |
| &nbsp;&nbsp;&nbsp;Bank Leumi Le-Israel BM | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1716 | &nbsp;&nbsp;&nbsp;&nbsp; 31856 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;43681 | &nbsp;&nbsp;&nbsp;&nbsp; 2064801 |
| &nbsp;&nbsp;&nbsp;Bank Polska Kasa Opieki SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237 | &nbsp;&nbsp;&nbsp;&nbsp; 12946 |
| &nbsp;&nbsp;&nbsp;Barclays PLC | &nbsp;&nbsp;&nbsp;&nbsp;16361 | &nbsp;&nbsp;&nbsp;&nbsp; 80227 |
| &nbsp;&nbsp;&nbsp;BAWAG Group AG\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp;&nbsp;&nbsp; 10874 |
| &nbsp;&nbsp;&nbsp;BNP Paribas SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1188 | &nbsp;&nbsp;&nbsp;&nbsp; 108541 |
| &nbsp;&nbsp;&nbsp;CaixaBank SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4072 | &nbsp;&nbsp;&nbsp;&nbsp; 38337 |
| &nbsp;&nbsp;&nbsp;Chiba Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp; 7538 |
| &nbsp;&nbsp;&nbsp;Columbia Banking System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5669 | &nbsp;&nbsp;&nbsp;&nbsp; 134922 |
| &nbsp;&nbsp;&nbsp;Commerzbank AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999 | &nbsp;&nbsp;&nbsp;&nbsp; 36528 |
| &nbsp;&nbsp;&nbsp;Commonwealth Bank of Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1921 | &nbsp;&nbsp;&nbsp;&nbsp; 219635 |
| &nbsp;&nbsp;&nbsp;Computershare, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;636 | &nbsp;&nbsp;&nbsp;&nbsp; 17228 |
| &nbsp;&nbsp;&nbsp;Concordia Financial Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp; 8716 |
| &nbsp;&nbsp;&nbsp;Credit Agricole SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1349 | &nbsp;&nbsp;&nbsp;&nbsp; 24863 |
| &nbsp;&nbsp;&nbsp;Danske Bank A/S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744 | &nbsp;&nbsp;&nbsp;&nbsp; 29632 |
| &nbsp;&nbsp;&nbsp;DBS Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;37180 | &nbsp;&nbsp;&nbsp;&nbsp; 1371915 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2048 | &nbsp;&nbsp;&nbsp;&nbsp; 67743 |
| &nbsp;&nbsp;&nbsp;DNB Bank ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;853 | &nbsp;&nbsp;&nbsp;&nbsp; 21641 |
| &nbsp;&nbsp;&nbsp;Erste Group Bank AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp; 31714 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3358 | &nbsp;&nbsp;&nbsp;&nbsp; 139592 |
| &nbsp;&nbsp;&nbsp;FinecoBank Banca Fineco SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 14954 |
| &nbsp;&nbsp;&nbsp;First Citizens BancShares, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242 | &nbsp;&nbsp;&nbsp;&nbsp; 482732 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529 | &nbsp;&nbsp;&nbsp;&nbsp; 382779 |
| &nbsp;&nbsp;&nbsp;Hang Seng Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 10219 |
| &nbsp;&nbsp;&nbsp;HDFC Bank, Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9548 | &nbsp;&nbsp;&nbsp;&nbsp; 733000 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;20257 | &nbsp;&nbsp;&nbsp;&nbsp; 246871 |
| &nbsp;&nbsp;&nbsp;ING Bank Slaski SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;&nbsp; 3382 |
| &nbsp;&nbsp;&nbsp;ING Groep NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3460 | &nbsp;&nbsp;&nbsp;&nbsp; 80906 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;Intesa Sanpaolo SpA | &nbsp;&nbsp;&nbsp;&nbsp;17961 | &nbsp;&nbsp;$108532 |
| &nbsp;&nbsp;&nbsp;Israel Discount Bank, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395 | &nbsp;&nbsp;&nbsp;&nbsp; 13390 |
| &nbsp;&nbsp;&nbsp;Japan Post Bank Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp; 23604 |
| &nbsp;&nbsp;&nbsp;KBC Group NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6077 | &nbsp;&nbsp;&nbsp;&nbsp; 636362 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;68829 | &nbsp;&nbsp;&nbsp;&nbsp; 70719 |
| &nbsp;&nbsp;&nbsp;M&T Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3318 | &nbsp;&nbsp;&nbsp;&nbsp; 626107 |
| &nbsp;&nbsp;&nbsp;Macquarie Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417 | &nbsp;&nbsp;&nbsp;&nbsp; 58255 |
| &nbsp;&nbsp;&nbsp;Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663 | &nbsp;&nbsp;&nbsp;&nbsp; 14633 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp; 1469513 |
| &nbsp;&nbsp;&nbsp;Mizrahi Tefahot Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp; 9913 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2840 | &nbsp;&nbsp;&nbsp;&nbsp; 84409 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;11588 | &nbsp;&nbsp;&nbsp;&nbsp; 1650827 |
| &nbsp;&nbsp;&nbsp;National Australia Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3527 | &nbsp;&nbsp;&nbsp;&nbsp; 88194 |
| &nbsp;&nbsp;&nbsp;National Bank of Greece SA | &nbsp;&nbsp;&nbsp;&nbsp;20285 | &nbsp;&nbsp;&nbsp;&nbsp; 284504 |
| &nbsp;&nbsp;&nbsp;NatWest Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;55298 | &nbsp;&nbsp;&nbsp;&nbsp; 384864 |
| &nbsp;&nbsp;&nbsp;Nordea Bank Abp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3464 | &nbsp;&nbsp;&nbsp;&nbsp; 50602 |
| &nbsp;&nbsp;&nbsp;Northern Trust Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3012 | &nbsp;&nbsp;&nbsp;&nbsp; 391560 |
| &nbsp;&nbsp;&nbsp;Oversea-Chinese Banking Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3700 | &nbsp;&nbsp;&nbsp;&nbsp; 48074 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1507 | &nbsp;&nbsp;&nbsp;&nbsp; 286737 |
| &nbsp;&nbsp;&nbsp;Powszechna Kasa Oszczednosci Bank Polski SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966 | &nbsp;&nbsp;&nbsp;&nbsp; 21235 |
| &nbsp;&nbsp;&nbsp;Raiffeisen Bank International AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp; 4790 |
| &nbsp;&nbsp;&nbsp;Regions Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15283 | &nbsp;&nbsp;&nbsp;&nbsp; 387118 |
| &nbsp;&nbsp;&nbsp;Resona Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp; 23027 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3518 | &nbsp;&nbsp;&nbsp;&nbsp; 451404 |
| &nbsp;&nbsp;&nbsp;Santander Bank Polska SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;&nbsp; 5571 |
| &nbsp;&nbsp;&nbsp;Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1539 | &nbsp;&nbsp;&nbsp;&nbsp; 26946 |
| &nbsp;&nbsp;&nbsp;Skandinaviska Enskilda Banken AB, Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;&nbsp;&nbsp; 390 |
| &nbsp;&nbsp;&nbsp;Societe Generale SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;808 | &nbsp;&nbsp;&nbsp;&nbsp; 51600 |
| &nbsp;&nbsp;&nbsp;Standard Chartered PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2180 | &nbsp;&nbsp;&nbsp;&nbsp; 39169 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4266 | &nbsp;&nbsp;&nbsp;&nbsp; 476726 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp; 112480 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Trust Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp; 21098 |
| &nbsp;&nbsp;&nbsp;Svenska Handelsbanken AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1591 | &nbsp;&nbsp;&nbsp;&nbsp; 19454 |
| &nbsp;&nbsp;&nbsp;Svenska Handelsbanken AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp; 783 |
| &nbsp;&nbsp;&nbsp;Swedbank AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1134 | &nbsp;&nbsp;&nbsp;&nbsp; 30246 |
| &nbsp;&nbsp;&nbsp;UBS Group AG | &nbsp;&nbsp;&nbsp;&nbsp;16896 | &nbsp;&nbsp;&nbsp;&nbsp; 633197 |
| &nbsp;&nbsp;&nbsp;UniCredit SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9013 | &nbsp;&nbsp;&nbsp;&nbsp; 664760 |
| &nbsp;&nbsp;&nbsp;United Overseas Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp; 44596 |
| &nbsp;&nbsp;&nbsp;US Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;20831 | &nbsp;&nbsp;&nbsp;&nbsp; 936562 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;53803 | &nbsp;&nbsp;&nbsp;&nbsp; 4338136 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3944 | &nbsp;&nbsp;&nbsp;&nbsp; 85721 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;21815788 |
| **Beverages — 0.7%** | **Beverages — 0.7%** | **Beverages — 0.7%** |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev SA NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1122 | &nbsp;&nbsp;&nbsp;&nbsp; 65814 |
| &nbsp;&nbsp;&nbsp;Asahi Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp; 22906 |
| &nbsp;&nbsp;&nbsp;Budweiser Brewing Co. APAC, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp; 2420 |
| &nbsp;&nbsp;&nbsp;Carlsberg A/S, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107 | &nbsp;&nbsp;&nbsp;&nbsp; 13388 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Europacific Partners PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248 | &nbsp;&nbsp;&nbsp;&nbsp; 24036 |
| &nbsp;&nbsp;&nbsp;Coca-Cola HBC AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231 | &nbsp;&nbsp;&nbsp;&nbsp; 12038 |
| &nbsp;&nbsp;&nbsp;Constellation Brands, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;917 | &nbsp;&nbsp;&nbsp;&nbsp; 153176 |
| &nbsp;&nbsp;&nbsp;Davide Campari-Milano NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641 | &nbsp;&nbsp;&nbsp;&nbsp; 4433 |
| &nbsp;&nbsp;&nbsp;Diageo PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5901 | &nbsp;&nbsp;&nbsp;&nbsp; 144407 |
| &nbsp;&nbsp;&nbsp;Heineken Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp; 11185 |
| &nbsp;&nbsp;&nbsp;Heineken NV | &nbsp;&nbsp;&nbsp;&nbsp;12657 | &nbsp;&nbsp;&nbsp;&nbsp; 997514 |
| &nbsp;&nbsp;&nbsp;JDE Peet's NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp; 5357 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34822 | &nbsp;&nbsp;&nbsp;&nbsp; 1136938 |
| &nbsp;&nbsp;&nbsp;Kirin Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 14582 |
| &nbsp;&nbsp;&nbsp;Pernod Ricard SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5329 | &nbsp;&nbsp;&nbsp;&nbsp; 549520 |
| &nbsp;&nbsp;&nbsp;Suntory Beverage & Food, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 6058 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3163772 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Biotechnology — 0.5%** | **Biotechnology — 0.5%** | **Biotechnology — 0.5%** |
| &nbsp;&nbsp;&nbsp;Alnylam Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;$313792 |
| &nbsp;&nbsp;&nbsp;Argenx SE† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp; 6783 |
| &nbsp;&nbsp;&nbsp;Argenx SE† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp; 40700 |
| &nbsp;&nbsp;&nbsp;BioNTech SE ADR† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109 | &nbsp;&nbsp;&nbsp;&nbsp; 11718 |
| &nbsp;&nbsp;&nbsp;CSL, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555 | &nbsp;&nbsp;&nbsp;&nbsp; 96622 |
| &nbsp;&nbsp;&nbsp;Genmab A/S† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp;&nbsp;&nbsp; 18901 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1853 | &nbsp;&nbsp;&nbsp;&nbsp; 208073 |
| &nbsp;&nbsp;&nbsp;Insmed, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2504 | &nbsp;&nbsp;&nbsp;&nbsp; 268629 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984 | &nbsp;&nbsp;&nbsp;&nbsp; 536733 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1367 | &nbsp;&nbsp;&nbsp;&nbsp; 624541 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2126492 |
| **Building Materials — 1.2%** | **Building Materials — 1.2%** | **Building Materials — 1.2%** |
| &nbsp;&nbsp;&nbsp;AGC, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 3015 |
| &nbsp;&nbsp;&nbsp;Buzzi SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp; 4696 |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11793 | &nbsp;&nbsp;&nbsp;&nbsp; 809236 |
| &nbsp;&nbsp;&nbsp;Cie de Saint-Gobain SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519 | &nbsp;&nbsp;&nbsp;&nbsp; 59406 |
| &nbsp;&nbsp;&nbsp;Daikin Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 37052 |
| &nbsp;&nbsp;&nbsp;Eagle Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596 | &nbsp;&nbsp;&nbsp;&nbsp; 133677 |
| &nbsp;&nbsp;&nbsp;Fortune Brands Innovations, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3777 | &nbsp;&nbsp;&nbsp;&nbsp; 205997 |
| &nbsp;&nbsp;&nbsp;Geberit AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp;&nbsp;&nbsp; 31498 |
| &nbsp;&nbsp;&nbsp;Hayward Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2026 | &nbsp;&nbsp;&nbsp;&nbsp; 31160 |
| &nbsp;&nbsp;&nbsp;Heidelberg Materials AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146 | &nbsp;&nbsp;&nbsp;&nbsp; 33739 |
| &nbsp;&nbsp;&nbsp;Holcim AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;567 | &nbsp;&nbsp;&nbsp;&nbsp; 45360 |
| &nbsp;&nbsp;&nbsp;James Hardie Industries PLC CDI† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492 | &nbsp;&nbsp;&nbsp;&nbsp; 13061 |
| &nbsp;&nbsp;&nbsp;Kingspan Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3385 | &nbsp;&nbsp;&nbsp;&nbsp; 280644 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp; 284566 |
| &nbsp;&nbsp;&nbsp;Mohawk Industries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2149 | &nbsp;&nbsp;&nbsp;&nbsp; 246082 |
| &nbsp;&nbsp;&nbsp;Nibe Industrier AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1849 | &nbsp;&nbsp;&nbsp;&nbsp; 8522 |
| &nbsp;&nbsp;&nbsp;Sika AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184 | &nbsp;&nbsp;&nbsp;&nbsp; 43630 |
| &nbsp;&nbsp;&nbsp;Svenska Cellulosa AB SCA, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp;&nbsp;&nbsp; 7404 |
| &nbsp;&nbsp;&nbsp;Trane Technologies PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4009 | &nbsp;&nbsp;&nbsp;&nbsp; 1756263 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4355 | &nbsp;&nbsp;&nbsp;&nbsp; 1196188 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5231196 |
| **Chemicals — 0.6%** | **Chemicals — 0.6%** | **Chemicals — 0.6%** |
| &nbsp;&nbsp;&nbsp;Air Liquide SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4653 | &nbsp;&nbsp;&nbsp;&nbsp; 917568 |
| &nbsp;&nbsp;&nbsp;Akzo Nobel NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188 | &nbsp;&nbsp;&nbsp;&nbsp; 11817 |
| &nbsp;&nbsp;&nbsp;Asahi Kasei Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 10499 |
| &nbsp;&nbsp;&nbsp;Axalta Coating Systems, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8029 | &nbsp;&nbsp;&nbsp;&nbsp; 227381 |
| &nbsp;&nbsp;&nbsp;BASF SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006 | &nbsp;&nbsp;&nbsp;&nbsp; 49550 |
| &nbsp;&nbsp;&nbsp;Croda International PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp; 5002 |
| &nbsp;&nbsp;&nbsp;DSM-Firmenich AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286 | &nbsp;&nbsp;&nbsp;&nbsp; 27586 |
| &nbsp;&nbsp;&nbsp;EMS-Chemie Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp; 7910 |
| &nbsp;&nbsp;&nbsp;Givaudan SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp; 41994 |
| &nbsp;&nbsp;&nbsp;ICL Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814 | &nbsp;&nbsp;&nbsp;&nbsp; 5091 |
| &nbsp;&nbsp;&nbsp;Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;802 | &nbsp;&nbsp;&nbsp;&nbsp; 369129 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Chemical Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 8228 |
| &nbsp;&nbsp;&nbsp;Nippon Paint Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 9381 |
| &nbsp;&nbsp;&nbsp;Nippon Sanso Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 7127 |
| &nbsp;&nbsp;&nbsp;Nitto Denko Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp; 16663 |
| &nbsp;&nbsp;&nbsp;Novonesis (Novozymes), Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397 | &nbsp;&nbsp;&nbsp;&nbsp; 25845 |
| &nbsp;&nbsp;&nbsp;Shin-Etsu Chemical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;19300 | &nbsp;&nbsp;&nbsp;&nbsp; 562490 |
| &nbsp;&nbsp;&nbsp;Syensqo SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 | &nbsp;&nbsp;&nbsp;&nbsp; 6547 |
| &nbsp;&nbsp;&nbsp;Symrise AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp; 12702 |
| &nbsp;&nbsp;&nbsp;Toray Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp; 11702 |
| &nbsp;&nbsp;&nbsp;Yara International ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174 | &nbsp;&nbsp;&nbsp;&nbsp; 6464 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2340676 |
| **Commercial Services — 0.7%** | **Commercial Services — 0.7%** | **Commercial Services — 0.7%** |
| &nbsp;&nbsp;&nbsp;Adyen NV\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp;&nbsp;&nbsp; 56889 |
| &nbsp;&nbsp;&nbsp;Ashtead Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492 | &nbsp;&nbsp;&nbsp;&nbsp; 32995 |
| &nbsp;&nbsp;&nbsp;Atlas Arteria, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1191 | &nbsp;&nbsp;&nbsp;&nbsp; 3949 |
| &nbsp;&nbsp;&nbsp;Brambles, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1568 | &nbsp;&nbsp;&nbsp;&nbsp; 24094 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| &nbsp;&nbsp;&nbsp;Bright Horizons Family Solutions, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;959 | &nbsp;&nbsp;$108463 |
| &nbsp;&nbsp;&nbsp;Bureau Veritas SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354 | &nbsp;&nbsp;&nbsp;&nbsp; 10924 |
| &nbsp;&nbsp;&nbsp;Corpay, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp; 251979 |
| &nbsp;&nbsp;&nbsp;Dai Nippon Printing Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 7727 |
| &nbsp;&nbsp;&nbsp;Experian PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1054 | &nbsp;&nbsp;&nbsp;&nbsp; 55734 |
| &nbsp;&nbsp;&nbsp;Intertek Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181 | &nbsp;&nbsp;&nbsp;&nbsp; 11808 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496 | &nbsp;&nbsp;&nbsp;&nbsp; 255802 |
| &nbsp;&nbsp;&nbsp;Nexi SpA\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569 | &nbsp;&nbsp;&nbsp;&nbsp; 3253 |
| &nbsp;&nbsp;&nbsp;Quanta Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;958 | &nbsp;&nbsp;&nbsp;&nbsp; 389073 |
| &nbsp;&nbsp;&nbsp;Recruit Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp; 96042 |
| &nbsp;&nbsp;&nbsp;RELX PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2130 | &nbsp;&nbsp;&nbsp;&nbsp; 110719 |
| &nbsp;&nbsp;&nbsp;RELX PLC (XAMS) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9520 | &nbsp;&nbsp;&nbsp;&nbsp; 494974 |
| &nbsp;&nbsp;&nbsp;Rentokil Initial PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2730 | &nbsp;&nbsp;&nbsp;&nbsp; 13682 |
| &nbsp;&nbsp;&nbsp;Secom Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 17958 |
| &nbsp;&nbsp;&nbsp;Securitas AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597 | &nbsp;&nbsp;&nbsp;&nbsp; 8873 |
| &nbsp;&nbsp;&nbsp;SGS SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176 | &nbsp;&nbsp;&nbsp;&nbsp; 17941 |
| &nbsp;&nbsp;&nbsp;Toppan Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 10857 |
| &nbsp;&nbsp;&nbsp;TransUnion | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1805 | &nbsp;&nbsp;&nbsp;&nbsp; 171818 |
| &nbsp;&nbsp;&nbsp;Transurban Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3541 | &nbsp;&nbsp;&nbsp;&nbsp; 31449 |
| &nbsp;&nbsp;&nbsp;United Rentals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574 | &nbsp;&nbsp;&nbsp;&nbsp; 506808 |
| &nbsp;&nbsp;&nbsp;WillScot Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10694 | &nbsp;&nbsp;&nbsp;&nbsp; 313869 |
| &nbsp;&nbsp;&nbsp;Wise PLC, Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784 | &nbsp;&nbsp;&nbsp;&nbsp; 10509 |
| &nbsp;&nbsp;&nbsp;Wolters Kluwer NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266 | &nbsp;&nbsp;&nbsp;&nbsp; 41497 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3059686 |
| **Computers — 2.3%** | **Computers — 2.3%** | **Computers — 2.3%** |
| &nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40748 | &nbsp;&nbsp;&nbsp;&nbsp; 8458062 |
| &nbsp;&nbsp;&nbsp;Capgemini SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194 | &nbsp;&nbsp;&nbsp;&nbsp; 28980 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2859 | &nbsp;&nbsp;&nbsp;&nbsp; 205162 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646 | &nbsp;&nbsp;&nbsp;&nbsp; 293652 |
| &nbsp;&nbsp;&nbsp;Fujitsu, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp; 43833 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. | &nbsp;&nbsp;&nbsp;&nbsp;16912 | &nbsp;&nbsp;&nbsp;&nbsp; 349909 |
| &nbsp;&nbsp;&nbsp;NEC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 43757 |
| &nbsp;&nbsp;&nbsp;Nomura Research Institute, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 19957 |
| &nbsp;&nbsp;&nbsp;Obic Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 14377 |
| &nbsp;&nbsp;&nbsp;Otsuka Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 5704 |
| &nbsp;&nbsp;&nbsp;SCSK Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 6252 |
| &nbsp;&nbsp;&nbsp;Western Digital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4181 | &nbsp;&nbsp;&nbsp;&nbsp; 329003 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9798648 |
| **Cosmetics/Personal Care — 0.2%** | **Cosmetics/Personal Care — 0.2%** | **Cosmetics/Personal Care — 0.2%** |
| &nbsp;&nbsp;&nbsp;Beiersdorf AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112 | &nbsp;&nbsp;&nbsp;&nbsp; 13932 |
| &nbsp;&nbsp;&nbsp;Essity AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp;&nbsp;&nbsp; 641 |
| &nbsp;&nbsp;&nbsp;Essity AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685 | &nbsp;&nbsp;&nbsp;&nbsp; 16899 |
| &nbsp;&nbsp;&nbsp;Haleon PLC | &nbsp;&nbsp;&nbsp;&nbsp;10342 | &nbsp;&nbsp;&nbsp;&nbsp; 49101 |
| &nbsp;&nbsp;&nbsp;Kao Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8200 | &nbsp;&nbsp;&nbsp;&nbsp; 370305 |
| &nbsp;&nbsp;&nbsp;L'Oreal SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278 | &nbsp;&nbsp;&nbsp;&nbsp; 123523 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1748 | &nbsp;&nbsp;&nbsp;&nbsp; 263022 |
| &nbsp;&nbsp;&nbsp;Shiseido Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 6513 |
| &nbsp;&nbsp;&nbsp;Unicharm Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 10404 |
| &nbsp;&nbsp;&nbsp;Unilever PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2843 | &nbsp;&nbsp;&nbsp;&nbsp; 165503 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019843 |
| **Distribution/Wholesale — 0.2%** | **Distribution/Wholesale — 0.2%** | **Distribution/Wholesale — 0.2%** |
| &nbsp;&nbsp;&nbsp;Bunzl PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364 | &nbsp;&nbsp;&nbsp;&nbsp; 10835 |
| &nbsp;&nbsp;&nbsp;Copart, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3857 | &nbsp;&nbsp;&nbsp;&nbsp; 174838 |
| &nbsp;&nbsp;&nbsp;D'ieteren Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp; 4562 |
| &nbsp;&nbsp;&nbsp;ITOCHU Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;&nbsp; 447152 |
| &nbsp;&nbsp;&nbsp;Marubeni Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp; 39222 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp; 87183 |
| &nbsp;&nbsp;&nbsp;Mitsui & Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp; 61671 |
| &nbsp;&nbsp;&nbsp;SGH, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229 | &nbsp;&nbsp;&nbsp;&nbsp; 7544 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Distribution/Wholesale (continued)** | **Distribution/Wholesale (continued)** | **Distribution/Wholesale (continued)** |
| &nbsp;&nbsp;&nbsp;Sumitomo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;$35835 |
| &nbsp;&nbsp;&nbsp;Toyota Tsusho Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp; 18414 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;887256 |
| **Diversified Financial Services — 3.2%** | **Diversified Financial Services — 3.2%** | **Diversified Financial Services — 3.2%** |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp; 105260 |
| &nbsp;&nbsp;&nbsp;American Express Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5793 | &nbsp;&nbsp;&nbsp;&nbsp; 1733903 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2209 | &nbsp;&nbsp;&nbsp;&nbsp; 1144682 |
| &nbsp;&nbsp;&nbsp;Amundi SA\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp; 5196 |
| &nbsp;&nbsp;&nbsp;ASX, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217 | &nbsp;&nbsp;&nbsp;&nbsp; 9769 |
| &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3146 | &nbsp;&nbsp;&nbsp;&nbsp; 676390 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;18586 | &nbsp;&nbsp;&nbsp;&nbsp; 1816410 |
| &nbsp;&nbsp;&nbsp;CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7070 | &nbsp;&nbsp;&nbsp;&nbsp; 1967440 |
| &nbsp;&nbsp;&nbsp;Daiwa Securities Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 10514 |
| &nbsp;&nbsp;&nbsp;Deutsche Boerse AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1740 | &nbsp;&nbsp;&nbsp;&nbsp; 504563 |
| &nbsp;&nbsp;&nbsp;Hong Kong Exchanges & Clearing, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;20600 | &nbsp;&nbsp;&nbsp;&nbsp; 1120535 |
| &nbsp;&nbsp;&nbsp;Interactive Brokers Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3829 | &nbsp;&nbsp;&nbsp;&nbsp; 251029 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;659 | &nbsp;&nbsp;&nbsp;&nbsp; 121803 |
| &nbsp;&nbsp;&nbsp;Japan Exchange Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;43500 | &nbsp;&nbsp;&nbsp;&nbsp; 426923 |
| &nbsp;&nbsp;&nbsp;Julius Baer Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227 | &nbsp;&nbsp;&nbsp;&nbsp; 15432 |
| &nbsp;&nbsp;&nbsp;London Stock Exchange Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3476 | &nbsp;&nbsp;&nbsp;&nbsp; 425088 |
| &nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4927 | &nbsp;&nbsp;&nbsp;&nbsp; 2790998 |
| &nbsp;&nbsp;&nbsp;Mitsubishi HC Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 7407 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp; 21993 |
| &nbsp;&nbsp;&nbsp;Nordnet AB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204 | &nbsp;&nbsp;&nbsp;&nbsp; 5522 |
| &nbsp;&nbsp;&nbsp;ORIX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp; 29310 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639 | &nbsp;&nbsp;&nbsp;&nbsp; 106796 |
| &nbsp;&nbsp;&nbsp;SBI Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 11264 |
| &nbsp;&nbsp;&nbsp;Schroders PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1040 | &nbsp;&nbsp;&nbsp;&nbsp; 5370 |
| &nbsp;&nbsp;&nbsp;Singapore Exchange, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp; 11091 |
| &nbsp;&nbsp;&nbsp;Tokyo Century Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 2303 |
| &nbsp;&nbsp;&nbsp;Tradeweb Markets, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1062 | &nbsp;&nbsp;&nbsp;&nbsp; 147140 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;13474131 |
| **Electric — 1.8%** | **Electric — 1.8%** | **Electric — 1.8%** |
| &nbsp;&nbsp;&nbsp;A2A SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1751 | &nbsp;&nbsp;&nbsp;&nbsp; 4262 |
| &nbsp;&nbsp;&nbsp;Chubu Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 12238 |
| &nbsp;&nbsp;&nbsp;CLP Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp; 17363 |
| &nbsp;&nbsp;&nbsp;Dominion Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10763 | &nbsp;&nbsp;&nbsp;&nbsp; 629097 |
| &nbsp;&nbsp;&nbsp;E.ON SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2540 | &nbsp;&nbsp;&nbsp;&nbsp; 46248 |
| &nbsp;&nbsp;&nbsp;EDP Renovaveis SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282 | &nbsp;&nbsp;&nbsp;&nbsp; 3315 |
| &nbsp;&nbsp;&nbsp;EDP SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3194 | &nbsp;&nbsp;&nbsp;&nbsp; 13800 |
| &nbsp;&nbsp;&nbsp;Elia Group SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp; 5197 |
| &nbsp;&nbsp;&nbsp;Endesa SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356 | &nbsp;&nbsp;&nbsp;&nbsp; 10299 |
| &nbsp;&nbsp;&nbsp;Enel SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8900 | &nbsp;&nbsp;&nbsp;&nbsp; 78542 |
| &nbsp;&nbsp;&nbsp;Engie SA | &nbsp;&nbsp;&nbsp;&nbsp;18732 | &nbsp;&nbsp;&nbsp;&nbsp; 419416 |
| &nbsp;&nbsp;&nbsp;Entergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5425 | &nbsp;&nbsp;&nbsp;&nbsp; 490583 |
| &nbsp;&nbsp;&nbsp;Fortum Oyj | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493 | &nbsp;&nbsp;&nbsp;&nbsp; 9052 |
| &nbsp;&nbsp;&nbsp;Hera SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1047 | &nbsp;&nbsp;&nbsp;&nbsp; 4476 |
| &nbsp;&nbsp;&nbsp;Iberdrola SA | &nbsp;&nbsp;&nbsp;&nbsp;25443 | &nbsp;&nbsp;&nbsp;&nbsp; 445836 |
| &nbsp;&nbsp;&nbsp;Kansai Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp; 14495 |
| &nbsp;&nbsp;&nbsp;Meridian Energy, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1475 | &nbsp;&nbsp;&nbsp;&nbsp; 4953 |
| &nbsp;&nbsp;&nbsp;National Grid PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5603 | &nbsp;&nbsp;&nbsp;&nbsp; 78436 |
| &nbsp;&nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26834 | &nbsp;&nbsp;&nbsp;&nbsp; 1906824 |
| &nbsp;&nbsp;&nbsp;Origin Energy, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1976 | &nbsp;&nbsp;&nbsp;&nbsp; 14819 |
| &nbsp;&nbsp;&nbsp;Orsted A/S\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166 | &nbsp;&nbsp;&nbsp;&nbsp; 7824 |
| &nbsp;&nbsp;&nbsp;PG&E Corp. | &nbsp;&nbsp;&nbsp;&nbsp;28093 | &nbsp;&nbsp;&nbsp;&nbsp; 393864 |
| &nbsp;&nbsp;&nbsp;Power Assets Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 9879 |
| &nbsp;&nbsp;&nbsp;Public Service Enterprise Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1390 | &nbsp;&nbsp;&nbsp;&nbsp; 124808 |
| &nbsp;&nbsp;&nbsp;Redeia Corp. SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464 | &nbsp;&nbsp;&nbsp;&nbsp; 8975 |
| &nbsp;&nbsp;&nbsp;RWE AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777 | &nbsp;&nbsp;&nbsp;&nbsp; 31842 |
| &nbsp;&nbsp;&nbsp;Southern Co. | &nbsp;&nbsp;&nbsp;&nbsp;26049 | &nbsp;&nbsp;&nbsp;&nbsp; 2461110 |
| &nbsp;&nbsp;&nbsp;SSE PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1253 | &nbsp;&nbsp;&nbsp;&nbsp; 30588 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp;&nbsp;Terna - Rete Elettrica Nazionale | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1613 | &nbsp;&nbsp;$15558 |
| &nbsp;&nbsp;&nbsp;Tokyo Electric Power Co. Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp; 6482 |
| &nbsp;&nbsp;&nbsp;Verbund AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77 | &nbsp;&nbsp;&nbsp;&nbsp; 5742 |
| &nbsp;&nbsp;&nbsp;Vistra Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895 | &nbsp;&nbsp;&nbsp;&nbsp; 186643 |
| &nbsp;&nbsp;&nbsp;Xcel Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2774 | &nbsp;&nbsp;&nbsp;&nbsp; 203723 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7696289 |
| **Electrical Components & Equipment — 0.9%** | **Electrical Components & Equipment — 0.9%** | **Electrical Components & Equipment — 0.9%** |
| &nbsp;&nbsp;&nbsp;AMETEK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1253 | &nbsp;&nbsp;&nbsp;&nbsp; 231617 |
| &nbsp;&nbsp;&nbsp;Eaton Corp. PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4819 | &nbsp;&nbsp;&nbsp;&nbsp; 1853966 |
| &nbsp;&nbsp;&nbsp;Emerson Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4556 | &nbsp;&nbsp;&nbsp;&nbsp; 662943 |
| &nbsp;&nbsp;&nbsp;Fujikura, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 20640 |
| &nbsp;&nbsp;&nbsp;Legrand SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4628 | &nbsp;&nbsp;&nbsp;&nbsp; 686327 |
| &nbsp;&nbsp;&nbsp;Prysmian SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323 | &nbsp;&nbsp;&nbsp;&nbsp; 25943 |
| &nbsp;&nbsp;&nbsp;Schneider Electric SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619 | &nbsp;&nbsp;&nbsp;&nbsp; 161236 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3642672 |
| **Electronics — 0.4%** | **Electronics — 0.4%** | **Electronics — 0.4%** |
| &nbsp;&nbsp;&nbsp;ABB, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1827 | &nbsp;&nbsp;&nbsp;&nbsp; 120383 |
| &nbsp;&nbsp;&nbsp;Assa Abloy AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1209 | &nbsp;&nbsp;&nbsp;&nbsp; 39990 |
| &nbsp;&nbsp;&nbsp;Garmin, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp;&nbsp;&nbsp; 160789 |
| &nbsp;&nbsp;&nbsp;Halma PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436 | &nbsp;&nbsp;&nbsp;&nbsp; 18725 |
| &nbsp;&nbsp;&nbsp;Hoya Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp; 559629 |
| &nbsp;&nbsp;&nbsp;Jabil, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp; 267804 |
| &nbsp;&nbsp;&nbsp;Kyocera Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp; 20314 |
| &nbsp;&nbsp;&nbsp;Mettler-Toledo International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 | &nbsp;&nbsp;&nbsp;&nbsp; 101162 |
| &nbsp;&nbsp;&nbsp;Minebea Mitsumi, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 6358 |
| &nbsp;&nbsp;&nbsp;Murata Manufacturing Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp; 33080 |
| &nbsp;&nbsp;&nbsp;NIDEC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 21249 |
| &nbsp;&nbsp;&nbsp;Sartorius AG (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp;&nbsp;&nbsp; 5993 |
| &nbsp;&nbsp;&nbsp;SCREEN Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 7944 |
| &nbsp;&nbsp;&nbsp;Shimadzu Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 8912 |
| &nbsp;&nbsp;&nbsp;TD SYNNEX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3207 | &nbsp;&nbsp;&nbsp;&nbsp; 463059 |
| &nbsp;&nbsp;&nbsp;TDK Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp; 27092 |
| &nbsp;&nbsp;&nbsp;Yokogawa Electric Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 8015 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1870498 |
| **Energy-Alternate Sources — 0.0%** | **Energy-Alternate Sources — 0.0%** | **Energy-Alternate Sources — 0.0%** |
| &nbsp;&nbsp;&nbsp;Vestas Wind Systems A/S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1131 | &nbsp;&nbsp;&nbsp;&nbsp; 20750 |
| **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** |
| &nbsp;&nbsp;&nbsp;Ackermans & van Haaren NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp;&nbsp;&nbsp; 5900 |
| &nbsp;&nbsp;&nbsp;ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231 | &nbsp;&nbsp;&nbsp;&nbsp; 15923 |
| &nbsp;&nbsp;&nbsp;Aena SME SA\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;839 | &nbsp;&nbsp;&nbsp;&nbsp; 22591 |
| &nbsp;&nbsp;&nbsp;Aeroports de Paris SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp;&nbsp;&nbsp; 4978 |
| &nbsp;&nbsp;&nbsp;Auckland International Airport, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1712 | &nbsp;&nbsp;&nbsp;&nbsp; 7594 |
| &nbsp;&nbsp;&nbsp;Bouygues SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208 | &nbsp;&nbsp;&nbsp;&nbsp; 8581 |
| &nbsp;&nbsp;&nbsp;Cellnex Telecom SA\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;656 | &nbsp;&nbsp;&nbsp;&nbsp; 23207 |
| &nbsp;&nbsp;&nbsp;CK Infrastructure Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 3526 |
| &nbsp;&nbsp;&nbsp;Ferrovial SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522 | &nbsp;&nbsp;&nbsp;&nbsp; 26747 |
| &nbsp;&nbsp;&nbsp;Infrastrutture Wireless Italiane SpA\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362 | &nbsp;&nbsp;&nbsp;&nbsp; 4280 |
| &nbsp;&nbsp;&nbsp;Kajima Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 12576 |
| &nbsp;&nbsp;&nbsp;Keppel, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 9785 |
| &nbsp;&nbsp;&nbsp;Obayashi Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp; 11822 |
| &nbsp;&nbsp;&nbsp;Shimizu Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 7801 |
| &nbsp;&nbsp;&nbsp;Skanska AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376 | &nbsp;&nbsp;&nbsp;&nbsp; 8761 |
| &nbsp;&nbsp;&nbsp;Taisei Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 12024 |
| &nbsp;&nbsp;&nbsp;Vinci SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576 | &nbsp;&nbsp;&nbsp;&nbsp; 79931 |
| &nbsp;&nbsp;&nbsp;WSP Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1228 | &nbsp;&nbsp;&nbsp;&nbsp; 252850 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518877 |
| **Entertainment — 0.1%** | **Entertainment — 0.1%** | **Entertainment — 0.1%** |
| &nbsp;&nbsp;&nbsp;Aristocrat Leisure, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714 | &nbsp;&nbsp;&nbsp;&nbsp; 32138 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Entertainment (continued)** | **Entertainment (continued)** | **Entertainment (continued)** |
| &nbsp;&nbsp;&nbsp;Entain PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721 | &nbsp;&nbsp;$9731 |
| &nbsp;&nbsp;&nbsp;Evolution AB\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208 | &nbsp;&nbsp;&nbsp;&nbsp; 18537 |
| &nbsp;&nbsp;&nbsp;Flutter Entertainment PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708 | &nbsp;&nbsp;&nbsp;&nbsp; 214000 |
| &nbsp;&nbsp;&nbsp;Genting Singapore, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp; 2830 |
| &nbsp;&nbsp;&nbsp;Lottery Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2559 | &nbsp;&nbsp;&nbsp;&nbsp; 8913 |
| &nbsp;&nbsp;&nbsp;Oriental Land Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp; 26854 |
| &nbsp;&nbsp;&nbsp;Toho Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 6324 |
| &nbsp;&nbsp;&nbsp;Universal Music Group NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1085 | &nbsp;&nbsp;&nbsp;&nbsp; 31426 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350753 |
| **Food — 0.5%** | **Food — 0.5%** | **Food — 0.5%** |
| &nbsp;&nbsp;&nbsp;Aeon Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 35254 |
| &nbsp;&nbsp;&nbsp;Ajinomoto Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 29214 |
| &nbsp;&nbsp;&nbsp;Axfood AB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121 | &nbsp;&nbsp;&nbsp;&nbsp; 3610 |
| &nbsp;&nbsp;&nbsp;Chocoladefabriken Lindt & Spruengli AG (Participation Certificate) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp; 14749 |
| &nbsp;&nbsp;&nbsp;Coles Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1536 | &nbsp;&nbsp;&nbsp;&nbsp; 20473 |
| &nbsp;&nbsp;&nbsp;Colruyt Group NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp;Danone SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;738 | &nbsp;&nbsp;&nbsp;&nbsp; 60538 |
| &nbsp;&nbsp;&nbsp;Dino Polska SA\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp; 7016 |
| &nbsp;&nbsp;&nbsp;J Sainsbury PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1965 | &nbsp;&nbsp;&nbsp;&nbsp; 7873 |
| &nbsp;&nbsp;&nbsp;Jeronimo Martins SGPS SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311 | &nbsp;&nbsp;&nbsp;&nbsp; 7595 |
| &nbsp;&nbsp;&nbsp;Kerry Group PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp; 15743 |
| &nbsp;&nbsp;&nbsp;Kesko Oyj, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp;&nbsp; 2940 |
| &nbsp;&nbsp;&nbsp;Kesko Oyj, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304 | &nbsp;&nbsp;&nbsp;&nbsp; 6619 |
| &nbsp;&nbsp;&nbsp;Kikkoman Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 8780 |
| &nbsp;&nbsp;&nbsp;Kobe Bussan Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 5391 |
| &nbsp;&nbsp;&nbsp;Koninklijke Ahold Delhaize NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015 | &nbsp;&nbsp;&nbsp;&nbsp; 40078 |
| &nbsp;&nbsp;&nbsp;Lotus Bakeries NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp; 8491 |
| &nbsp;&nbsp;&nbsp;MEIJI Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 6092 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;11945 | &nbsp;&nbsp;&nbsp;&nbsp; 772722 |
| &nbsp;&nbsp;&nbsp;Mowi ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 9358 |
| &nbsp;&nbsp;&nbsp;Nestle SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9335 | &nbsp;&nbsp;&nbsp;&nbsp; 817136 |
| &nbsp;&nbsp;&nbsp;Nissin Foods Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 3808 |
| &nbsp;&nbsp;&nbsp;Orkla ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;843 | &nbsp;&nbsp;&nbsp;&nbsp; 8888 |
| &nbsp;&nbsp;&nbsp;Post Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2102 | &nbsp;&nbsp;&nbsp;&nbsp; 222413 |
| &nbsp;&nbsp;&nbsp;Salmar ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp;&nbsp;&nbsp; 3494 |
| &nbsp;&nbsp;&nbsp;Seven & i Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp; 35755 |
| &nbsp;&nbsp;&nbsp;Tesco PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7675 | &nbsp;&nbsp;&nbsp;&nbsp; 43118 |
| &nbsp;&nbsp;&nbsp;Toyo Suisan Kaisha, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 6409 |
| &nbsp;&nbsp;&nbsp;WH Group, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9184 | &nbsp;&nbsp;&nbsp;&nbsp; 9254 |
| &nbsp;&nbsp;&nbsp;Woolworths Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1401 | &nbsp;&nbsp;&nbsp;&nbsp; 28370 |
| &nbsp;&nbsp;&nbsp;Yakult Honsha Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 4838 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2246147 |
| **Food Service — 0.1%** | **Food Service — 0.1%** | **Food Service — 0.1%** |
| &nbsp;&nbsp;&nbsp;Compass Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;12546 | &nbsp;&nbsp;&nbsp;&nbsp; 441560 |
| **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** |
| &nbsp;&nbsp;&nbsp;Holmen AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112 | &nbsp;&nbsp;&nbsp;&nbsp; 4165 |
| &nbsp;&nbsp;&nbsp;International Paper Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2929 | &nbsp;&nbsp;&nbsp;&nbsp; 136901 |
| &nbsp;&nbsp;&nbsp;Mondi PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496 | &nbsp;&nbsp;&nbsp;&nbsp; 6731 |
| &nbsp;&nbsp;&nbsp;UPM-Kymmene Oyj | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601 | &nbsp;&nbsp;&nbsp;&nbsp; 15603 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163400 |
| **Gas — 0.0%** | **Gas — 0.0%** | **Gas — 0.0%** |
| &nbsp;&nbsp;&nbsp;Centrica PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5657 | &nbsp;&nbsp;&nbsp;&nbsp; 12297 |
| &nbsp;&nbsp;&nbsp;Hong Kong & China Gas Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;12530 | &nbsp;&nbsp;&nbsp;&nbsp; 11189 |
| &nbsp;&nbsp;&nbsp;Naturgy Energy Group SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143 | &nbsp;&nbsp;&nbsp;&nbsp; 4485 |
| &nbsp;&nbsp;&nbsp;Osaka Gas Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 12633 |
| &nbsp;&nbsp;&nbsp;Snam SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2460 | &nbsp;&nbsp;&nbsp;&nbsp; 14244 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54848 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Hand/Machine Tools — 0.0%** | **Hand/Machine Tools — 0.0%** | **Hand/Machine Tools — 0.0%** |
| &nbsp;&nbsp;&nbsp;Fuji Electric Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;$5025 |
| &nbsp;&nbsp;&nbsp;Makita Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 9354 |
| &nbsp;&nbsp;&nbsp;Schindler Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp; 12345 |
| &nbsp;&nbsp;&nbsp;Schindler Holding AG (Participation Certificate) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp;&nbsp;&nbsp; 17082 |
| &nbsp;&nbsp;&nbsp;Techtronic Industries Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 18019 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61825 |
| **Healthcare-Products — 1.2%** | **Healthcare-Products — 1.2%** | **Healthcare-Products — 1.2%** |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6134 | &nbsp;&nbsp;&nbsp;&nbsp; 774049 |
| &nbsp;&nbsp;&nbsp;Alcon AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp;&nbsp;&nbsp; 49958 |
| &nbsp;&nbsp;&nbsp;Align Technology, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1184 | &nbsp;&nbsp;&nbsp;&nbsp; 152748 |
| &nbsp;&nbsp;&nbsp;Cochlear, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 | &nbsp;&nbsp;&nbsp;&nbsp; 14124 |
| &nbsp;&nbsp;&nbsp;Coloplast A/S, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162 | &nbsp;&nbsp;&nbsp;&nbsp; 14945 |
| &nbsp;&nbsp;&nbsp;ConvaTec Group PLC\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1897 | &nbsp;&nbsp;&nbsp;&nbsp; 5847 |
| &nbsp;&nbsp;&nbsp;Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1180 | &nbsp;&nbsp;&nbsp;&nbsp; 232649 |
| &nbsp;&nbsp;&nbsp;DiaSorin SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp;&nbsp;&nbsp; 2347 |
| &nbsp;&nbsp;&nbsp;Edwards Lifesciences Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9980 | &nbsp;&nbsp;&nbsp;&nbsp; 791514 |
| &nbsp;&nbsp;&nbsp;EssilorLuxottica SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp; 98141 |
| &nbsp;&nbsp;&nbsp;Fisher & Paykel Healthcare Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631 | &nbsp;&nbsp;&nbsp;&nbsp; 13679 |
| &nbsp;&nbsp;&nbsp;FUJIFILM Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp; 29300 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639 | &nbsp;&nbsp;&nbsp;&nbsp; 307417 |
| &nbsp;&nbsp;&nbsp;Koninklijke Philips NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;908 | &nbsp;&nbsp;&nbsp;&nbsp; 23936 |
| &nbsp;&nbsp;&nbsp;Lifco AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261 | &nbsp;&nbsp;&nbsp;&nbsp; 9321 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp;12124 | &nbsp;&nbsp;&nbsp;&nbsp; 1094070 |
| &nbsp;&nbsp;&nbsp;Natera, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1932 | &nbsp;&nbsp;&nbsp;&nbsp; 258231 |
| &nbsp;&nbsp;&nbsp;Olympus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp; 15616 |
| &nbsp;&nbsp;&nbsp;Sartorius Stedim Biotech | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp; 6026 |
| &nbsp;&nbsp;&nbsp;Siemens Healthineers AG\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311 | &nbsp;&nbsp;&nbsp;&nbsp; 16787 |
| &nbsp;&nbsp;&nbsp;Smith & Nephew PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 15353 |
| &nbsp;&nbsp;&nbsp;Sonova Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57 | &nbsp;&nbsp;&nbsp;&nbsp; 15600 |
| &nbsp;&nbsp;&nbsp;Straumann Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128 | &nbsp;&nbsp;&nbsp;&nbsp; 15623 |
| &nbsp;&nbsp;&nbsp;Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2617 | &nbsp;&nbsp;&nbsp;&nbsp; 1027774 |
| &nbsp;&nbsp;&nbsp;Sysmex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp; 9855 |
| &nbsp;&nbsp;&nbsp;Terumo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp; 28871 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp;&nbsp;&nbsp; 203441 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5227222 |
| **Healthcare-Services — 0.6%** | **Healthcare-Services — 0.6%** | **Healthcare-Services — 0.6%** |
| &nbsp;&nbsp;&nbsp;BioMerieux | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp; 7178 |
| &nbsp;&nbsp;&nbsp;Cigna Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1207 | &nbsp;&nbsp;&nbsp;&nbsp; 322728 |
| &nbsp;&nbsp;&nbsp;Fresenius SE & Co. KGaA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472 | &nbsp;&nbsp;&nbsp;&nbsp; 22612 |
| &nbsp;&nbsp;&nbsp;HCA Healthcare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568 | &nbsp;&nbsp;&nbsp;&nbsp; 201066 |
| &nbsp;&nbsp;&nbsp;Humana, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742 | &nbsp;&nbsp;&nbsp;&nbsp; 185404 |
| &nbsp;&nbsp;&nbsp;IQVIA Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465 | &nbsp;&nbsp;&nbsp;&nbsp; 86425 |
| &nbsp;&nbsp;&nbsp;Labcorp Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1405 | &nbsp;&nbsp;&nbsp;&nbsp; 365412 |
| &nbsp;&nbsp;&nbsp;Lonza Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796 | &nbsp;&nbsp;&nbsp;&nbsp; 560556 |
| &nbsp;&nbsp;&nbsp;Oscar Health, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7130 | &nbsp;&nbsp;&nbsp;&nbsp; 100177 |
| &nbsp;&nbsp;&nbsp;Ramsay Health Care, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204 | &nbsp;&nbsp;&nbsp;&nbsp; 5083 |
| &nbsp;&nbsp;&nbsp;Sonic Healthcare, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523 | &nbsp;&nbsp;&nbsp;&nbsp; 9280 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2343 | &nbsp;&nbsp;&nbsp;&nbsp; 584719 |
| &nbsp;&nbsp;&nbsp;Wuxi Biologics Cayman, Inc.\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp; 16408 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2467048 |
| **Holding Companies-Diversified — 0.0%** | **Holding Companies-Diversified — 0.0%** | **Holding Companies-Diversified — 0.0%** |
| &nbsp;&nbsp;&nbsp;Jardine Matheson Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 10906 |
| **Home Builders — 0.0%** | **Home Builders — 0.0%** | **Home Builders — 0.0%** |
| &nbsp;&nbsp;&nbsp;Barratt Redrow PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1477 | &nbsp;&nbsp;&nbsp;&nbsp; 7297 |
| &nbsp;&nbsp;&nbsp;Berkeley Group Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115 | &nbsp;&nbsp;&nbsp;&nbsp; 5544 |
| &nbsp;&nbsp;&nbsp;Daiwa House Industry Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 23228 |
| &nbsp;&nbsp;&nbsp;Persimmon PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361 | &nbsp;&nbsp;&nbsp;&nbsp; 5459 |
| &nbsp;&nbsp;&nbsp;Sekisui Chemical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 6983 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Home Builders (continued)** | **Home Builders (continued)** | **Home Builders (continued)** |
| &nbsp;&nbsp;&nbsp;Sekisui House, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;$12680 |
| &nbsp;&nbsp;&nbsp;Taylor Wimpey PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3982 | &nbsp;&nbsp;&nbsp;&nbsp; 5377 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66568 |
| **Home Furnishings — 0.4%** | **Home Furnishings — 0.4%** | **Home Furnishings — 0.4%** |
| &nbsp;&nbsp;&nbsp;Hoshizaki Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 3444 |
| &nbsp;&nbsp;&nbsp;Howden Joinery Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595 | &nbsp;&nbsp;&nbsp;&nbsp; 6915 |
| &nbsp;&nbsp;&nbsp;Panasonic Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp; 23881 |
| &nbsp;&nbsp;&nbsp;Sony Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;68000 | &nbsp;&nbsp;&nbsp;&nbsp; 1660318 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1694558 |
| **Household Products/Wares — 0.0%** | **Household Products/Wares — 0.0%** | **Household Products/Wares — 0.0%** |
| &nbsp;&nbsp;&nbsp;Henkel AG & Co. KGaA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp;&nbsp;&nbsp; 7821 |
| &nbsp;&nbsp;&nbsp;Henkel AG & Co. KGaA (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp;&nbsp; 14268 |
| &nbsp;&nbsp;&nbsp;Reckitt Benckiser Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;783 | &nbsp;&nbsp;&nbsp;&nbsp; 58652 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80741 |
| **Insurance — 2.2%** | **Insurance — 2.2%** | **Insurance — 2.2%** |
| &nbsp;&nbsp;&nbsp;Admiral Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;&nbsp; 11917 |
| &nbsp;&nbsp;&nbsp;Ageas SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194 | &nbsp;&nbsp;&nbsp;&nbsp; 13228 |
| &nbsp;&nbsp;&nbsp;AIA Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;70800 | &nbsp;&nbsp;&nbsp;&nbsp; 662003 |
| &nbsp;&nbsp;&nbsp;Allianz SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443 | &nbsp;&nbsp;&nbsp;&nbsp; 175527 |
| &nbsp;&nbsp;&nbsp;Arch Capital Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1947 | &nbsp;&nbsp;&nbsp;&nbsp; 167559 |
| &nbsp;&nbsp;&nbsp;Arthur J. Gallagher & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5174 | &nbsp;&nbsp;&nbsp;&nbsp; 1486232 |
| &nbsp;&nbsp;&nbsp;Aviva PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3472 | &nbsp;&nbsp;&nbsp;&nbsp; 29740 |
| &nbsp;&nbsp;&nbsp;AXA SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2012 | &nbsp;&nbsp;&nbsp;&nbsp; 97997 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc., Class B† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1744 | &nbsp;&nbsp;&nbsp;&nbsp; 822959 |
| &nbsp;&nbsp;&nbsp;Chubb, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803 | &nbsp;&nbsp;&nbsp;&nbsp; 213630 |
| &nbsp;&nbsp;&nbsp;Dai-ichi Life Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp; 33519 |
| &nbsp;&nbsp;&nbsp;Generali | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1038 | &nbsp;&nbsp;&nbsp;&nbsp; 38759 |
| &nbsp;&nbsp;&nbsp;Gjensidige Forsikring ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216 | &nbsp;&nbsp;&nbsp;&nbsp; 5695 |
| &nbsp;&nbsp;&nbsp;Hannover Rueck SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp;&nbsp;&nbsp; 20673 |
| &nbsp;&nbsp;&nbsp;Hiscox, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp; 6655 |
| &nbsp;&nbsp;&nbsp;Insurance Australia Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2738 | &nbsp;&nbsp;&nbsp;&nbsp; 15432 |
| &nbsp;&nbsp;&nbsp;Intact Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1972 | &nbsp;&nbsp;&nbsp;&nbsp; 407607 |
| &nbsp;&nbsp;&nbsp;Japan Post Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp; 19531 |
| &nbsp;&nbsp;&nbsp;Japan Post Insurance Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 5141 |
| &nbsp;&nbsp;&nbsp;Kinsale Capital Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286 | &nbsp;&nbsp;&nbsp;&nbsp; 126037 |
| &nbsp;&nbsp;&nbsp;Legal & General Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6631 | &nbsp;&nbsp;&nbsp;&nbsp; 22489 |
| &nbsp;&nbsp;&nbsp;Loews Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4689 | &nbsp;&nbsp;&nbsp;&nbsp; 424542 |
| &nbsp;&nbsp;&nbsp;M&G PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2604 | &nbsp;&nbsp;&nbsp;&nbsp; 8996 |
| &nbsp;&nbsp;&nbsp;Medibank Private, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3105 | &nbsp;&nbsp;&nbsp;&nbsp; 10177 |
| &nbsp;&nbsp;&nbsp;MGIC Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10813 | &nbsp;&nbsp;&nbsp;&nbsp; 280057 |
| &nbsp;&nbsp;&nbsp;MS&AD Insurance Group Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp; 34419 |
| &nbsp;&nbsp;&nbsp;Muenchener Rueckversicherungs-Gesellschaft AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3314 | &nbsp;&nbsp;&nbsp;&nbsp; 2176882 |
| &nbsp;&nbsp;&nbsp;NN Group NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308 | &nbsp;&nbsp;&nbsp;&nbsp; 20794 |
| &nbsp;&nbsp;&nbsp;Phoenix Group Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845 | &nbsp;&nbsp;&nbsp;&nbsp; 7410 |
| &nbsp;&nbsp;&nbsp;Powszechny Zaklad Ubezpieczen SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646 | &nbsp;&nbsp;&nbsp;&nbsp; 10863 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878 | &nbsp;&nbsp;&nbsp;&nbsp; 212511 |
| &nbsp;&nbsp;&nbsp;Prudential PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2819 | &nbsp;&nbsp;&nbsp;&nbsp; 35881 |
| &nbsp;&nbsp;&nbsp;QBE Insurance Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1731 | &nbsp;&nbsp;&nbsp;&nbsp; 25808 |
| &nbsp;&nbsp;&nbsp;Sampo Oyj, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2898 | &nbsp;&nbsp;&nbsp;&nbsp; 31141 |
| &nbsp;&nbsp;&nbsp;Sompo Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 32621 |
| &nbsp;&nbsp;&nbsp;Storebrand ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489 | &nbsp;&nbsp;&nbsp;&nbsp; 6967 |
| &nbsp;&nbsp;&nbsp;Suncorp Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1238 | &nbsp;&nbsp;&nbsp;&nbsp; 16676 |
| &nbsp;&nbsp;&nbsp;Swiss Life Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 | &nbsp;&nbsp;&nbsp;&nbsp; 35404 |
| &nbsp;&nbsp;&nbsp;Swiss Re AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337 | &nbsp;&nbsp;&nbsp;&nbsp; 60679 |
| &nbsp;&nbsp;&nbsp;T&D Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 12324 |
| &nbsp;&nbsp;&nbsp;Talanx AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp; 9314 |
| &nbsp;&nbsp;&nbsp;Tokio Marine Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp; 89342 |
| &nbsp;&nbsp;&nbsp;Travelers Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4526 | &nbsp;&nbsp;&nbsp;&nbsp; 1177846 |
| &nbsp;&nbsp;&nbsp;Tryg A/S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341 | &nbsp;&nbsp;&nbsp;&nbsp; 8232 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| &nbsp;&nbsp;&nbsp;W.R. Berkley Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2839 | &nbsp;&nbsp;$195352 |
| &nbsp;&nbsp;&nbsp;Zurich Insurance Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp; 113067 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9419635 |
| **Internet — 6.5%** | **Internet — 6.5%** | **Internet — 6.5%** |
| &nbsp;&nbsp;&nbsp;Alibaba Group Holding, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;35400 | &nbsp;&nbsp;&nbsp;&nbsp; 521755 |
| &nbsp;&nbsp;&nbsp;Allegro.eu SA\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705 | &nbsp;&nbsp;&nbsp;&nbsp; 6963 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;11300 | &nbsp;&nbsp;&nbsp;&nbsp; 2168470 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5364 | &nbsp;&nbsp;&nbsp;&nbsp; 1034501 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;40714 | &nbsp;&nbsp;&nbsp;&nbsp; 9531555 |
| &nbsp;&nbsp;&nbsp;Angi, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1969 | &nbsp;&nbsp;&nbsp;&nbsp; 31937 |
| &nbsp;&nbsp;&nbsp;Auto Trader Group PLC\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006 | &nbsp;&nbsp;&nbsp;&nbsp; 11125 |
| &nbsp;&nbsp;&nbsp;Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp; 688008 |
| &nbsp;&nbsp;&nbsp;DoorDash, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1626 | &nbsp;&nbsp;&nbsp;&nbsp; 406907 |
| &nbsp;&nbsp;&nbsp;Expedia Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1064 | &nbsp;&nbsp;&nbsp;&nbsp; 191754 |
| &nbsp;&nbsp;&nbsp;IAC, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3795 | &nbsp;&nbsp;&nbsp;&nbsp; 149144 |
| &nbsp;&nbsp;&nbsp;LY Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp; 11409 |
| &nbsp;&nbsp;&nbsp;M3, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 6235 |
| &nbsp;&nbsp;&nbsp;MercadoLibre, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;&nbsp;&nbsp; 256380 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;10939 | &nbsp;&nbsp;&nbsp;&nbsp; 8460660 |
| &nbsp;&nbsp;&nbsp;MonotaRO Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 5379 |
| &nbsp;&nbsp;&nbsp;Netflix, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp;&nbsp;&nbsp; 742016 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1656 | &nbsp;&nbsp;&nbsp;&nbsp; 287482 |
| &nbsp;&nbsp;&nbsp;Prosus NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1444 | &nbsp;&nbsp;&nbsp;&nbsp; 82790 |
| &nbsp;&nbsp;&nbsp;Rakuten Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp; 8703 |
| &nbsp;&nbsp;&nbsp;Rightmove PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;894 | &nbsp;&nbsp;&nbsp;&nbsp; 9665 |
| &nbsp;&nbsp;&nbsp;Robinhood Markets, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2869 | &nbsp;&nbsp;&nbsp;&nbsp; 295650 |
| &nbsp;&nbsp;&nbsp;SEEK, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359 | &nbsp;&nbsp;&nbsp;&nbsp; 5592 |
| &nbsp;&nbsp;&nbsp;Shopify, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1402 | &nbsp;&nbsp;&nbsp;&nbsp; 171338 |
| &nbsp;&nbsp;&nbsp;Spotify Technology SA† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414 | &nbsp;&nbsp;&nbsp;&nbsp; 259388 |
| &nbsp;&nbsp;&nbsp;Tencent Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp; 2101911 |
| &nbsp;&nbsp;&nbsp;Trend Micro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 12239 |
| &nbsp;&nbsp;&nbsp;Uber Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3488 | &nbsp;&nbsp;&nbsp;&nbsp; 306072 |
| &nbsp;&nbsp;&nbsp;ZOZO, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 4957 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;27769985 |
| **Investment Companies — 0.0%** | **Investment Companies — 0.0%** | **Investment Companies — 0.0%** |
| &nbsp;&nbsp;&nbsp;EXOR NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp; 10155 |
| &nbsp;&nbsp;&nbsp;Groupe Bruxelles Lambert NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91 | &nbsp;&nbsp;&nbsp;&nbsp; 7643 |
| &nbsp;&nbsp;&nbsp;HAL Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 | &nbsp;&nbsp;&nbsp;&nbsp; 6114 |
| &nbsp;&nbsp;&nbsp;Industrivarden AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;&nbsp;&nbsp; 5231 |
| &nbsp;&nbsp;&nbsp;Industrivarden AB, Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184 | &nbsp;&nbsp;&nbsp;&nbsp; 6815 |
| &nbsp;&nbsp;&nbsp;Investment AB Latour, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164 | &nbsp;&nbsp;&nbsp;&nbsp; 4197 |
| &nbsp;&nbsp;&nbsp;Investor AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;652 | &nbsp;&nbsp;&nbsp;&nbsp; 18969 |
| &nbsp;&nbsp;&nbsp;Investor AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2083 | &nbsp;&nbsp;&nbsp;&nbsp; 60537 |
| &nbsp;&nbsp;&nbsp;L E Lundbergforetagen AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104 | &nbsp;&nbsp;&nbsp;&nbsp; 5085 |
| &nbsp;&nbsp;&nbsp;Sofina SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp; 4615 |
| &nbsp;&nbsp;&nbsp;Washington H. Soul Pattinson & Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286 | &nbsp;&nbsp;&nbsp;&nbsp; 7459 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136820 |
| **Iron/Steel — 0.0%** | **Iron/Steel — 0.0%** | **Iron/Steel — 0.0%** |
| &nbsp;&nbsp;&nbsp;ArcelorMittal SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483 | &nbsp;&nbsp;&nbsp;&nbsp; 15169 |
| &nbsp;&nbsp;&nbsp;BlueScope Steel, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498 | &nbsp;&nbsp;&nbsp;&nbsp; 7607 |
| &nbsp;&nbsp;&nbsp;Evraz PLC†(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;Fortescue, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1787 | &nbsp;&nbsp;&nbsp;&nbsp; 20408 |
| &nbsp;&nbsp;&nbsp;JFE Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 8121 |
| &nbsp;&nbsp;&nbsp;Nippon Steel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp; 23232 |
| &nbsp;&nbsp;&nbsp;SSAB AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262 | &nbsp;&nbsp;&nbsp;&nbsp; 1515 |
| &nbsp;&nbsp;&nbsp;SSAB AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638 | &nbsp;&nbsp;&nbsp;&nbsp; 3617 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79669 |
| **Leisure Time — 0.0%** | **Leisure Time — 0.0%** | **Leisure Time — 0.0%** |
| &nbsp;&nbsp;&nbsp;Amadeus IT Group SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493 | &nbsp;&nbsp;&nbsp;&nbsp; 39619 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Leisure Time (continued)** | **Leisure Time (continued)** | **Leisure Time (continued)** |
| &nbsp;&nbsp;&nbsp;Shimano, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;$10992 |
| &nbsp;&nbsp;&nbsp;Yamaha Motor Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 7251 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57862 |
| **Lodging — 0.3%** | **Lodging — 0.3%** | **Lodging — 0.3%** |
| &nbsp;&nbsp;&nbsp;Galaxy Entertainment Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp; 14675 |
| &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433 | &nbsp;&nbsp;&nbsp;&nbsp; 116079 |
| &nbsp;&nbsp;&nbsp;InterContinental Hotels Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177 | &nbsp;&nbsp;&nbsp;&nbsp; 20486 |
| &nbsp;&nbsp;&nbsp;Marriott International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4852 | &nbsp;&nbsp;&nbsp;&nbsp; 1280103 |
| &nbsp;&nbsp;&nbsp;Sands China, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp; 5821 |
| &nbsp;&nbsp;&nbsp;Whitbread PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186 | &nbsp;&nbsp;&nbsp;&nbsp; 7500 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1444664 |
| **Machinery-Construction & Mining — 0.1%** | **Machinery-Construction & Mining — 0.1%** | **Machinery-Construction & Mining — 0.1%** |
| &nbsp;&nbsp;&nbsp;Epiroc AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715 | &nbsp;&nbsp;&nbsp;&nbsp; 14575 |
| &nbsp;&nbsp;&nbsp;Epiroc AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441 | &nbsp;&nbsp;&nbsp;&nbsp; 7920 |
| &nbsp;&nbsp;&nbsp;Hitachi Construction Machinery Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 2911 |
| &nbsp;&nbsp;&nbsp;Hitachi, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5300 | &nbsp;&nbsp;&nbsp;&nbsp; 165080 |
| &nbsp;&nbsp;&nbsp;Komatsu, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 32261 |
| &nbsp;&nbsp;&nbsp;Metso Oyj | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790 | &nbsp;&nbsp;&nbsp;&nbsp; 9976 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Electric Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp; 53189 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Heavy Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3800 | &nbsp;&nbsp;&nbsp;&nbsp; 91472 |
| &nbsp;&nbsp;&nbsp;Sandvik AB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1118 | &nbsp;&nbsp;&nbsp;&nbsp; 27318 |
| &nbsp;&nbsp;&nbsp;Siemens Energy AG† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771 | &nbsp;&nbsp;&nbsp;&nbsp; 89746 |
| &nbsp;&nbsp;&nbsp;Weir Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298 | &nbsp;&nbsp;&nbsp;&nbsp; 10492 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504940 |
| **Machinery-Diversified — 0.9%** | **Machinery-Diversified — 0.9%** | **Machinery-Diversified — 0.9%** |
| &nbsp;&nbsp;&nbsp;ANDRITZ AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp; 5242 |
| &nbsp;&nbsp;&nbsp;Atlas Copco AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;59248 | &nbsp;&nbsp;&nbsp;&nbsp; 904222 |
| &nbsp;&nbsp;&nbsp;Atlas Copco AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1791 | &nbsp;&nbsp;&nbsp;&nbsp; 24269 |
| &nbsp;&nbsp;&nbsp;Beijer Ref AB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431 | &nbsp;&nbsp;&nbsp;&nbsp; 7238 |
| &nbsp;&nbsp;&nbsp;Daifuku Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 10281 |
| &nbsp;&nbsp;&nbsp;Deere & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1923 | &nbsp;&nbsp;&nbsp;&nbsp; 1008363 |
| &nbsp;&nbsp;&nbsp;Dover Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1940 | &nbsp;&nbsp;&nbsp;&nbsp; 351412 |
| &nbsp;&nbsp;&nbsp;FANUC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 31154 |
| &nbsp;&nbsp;&nbsp;Hexagon AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2418 | &nbsp;&nbsp;&nbsp;&nbsp; 26664 |
| &nbsp;&nbsp;&nbsp;Ingersoll Rand, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2203 | &nbsp;&nbsp;&nbsp;&nbsp; 186440 |
| &nbsp;&nbsp;&nbsp;Keyence Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp; 841910 |
| &nbsp;&nbsp;&nbsp;Kone Oyj, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407 | &nbsp;&nbsp;&nbsp;&nbsp; 25053 |
| &nbsp;&nbsp;&nbsp;Kubota Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp; 14565 |
| &nbsp;&nbsp;&nbsp;Middleby Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1698 | &nbsp;&nbsp;&nbsp;&nbsp; 246550 |
| &nbsp;&nbsp;&nbsp;Omron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 5198 |
| &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2978 | &nbsp;&nbsp;&nbsp;&nbsp; 255185 |
| &nbsp;&nbsp;&nbsp;SMC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 34947 |
| &nbsp;&nbsp;&nbsp;Spirax Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83 | &nbsp;&nbsp;&nbsp;&nbsp; 6955 |
| &nbsp;&nbsp;&nbsp;Wartsila OYJ Abp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp;&nbsp;&nbsp; 15076 |
| &nbsp;&nbsp;&nbsp;Yaskawa Electric Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 6330 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4007054 |
| **Media — 0.9%** | **Media — 0.9%** | **Media — 0.9%** |
| &nbsp;&nbsp;&nbsp;Bollore SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933 | &nbsp;&nbsp;&nbsp;&nbsp; 5393 |
| &nbsp;&nbsp;&nbsp;Informa PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1389 | &nbsp;&nbsp;&nbsp;&nbsp; 15926 |
| &nbsp;&nbsp;&nbsp;Pearson PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp;&nbsp;&nbsp; 10836 |
| &nbsp;&nbsp;&nbsp;Vend Marketplaces ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp; 2980 |
| &nbsp;&nbsp;&nbsp;Vend Marketplaces ASA, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;&nbsp;&nbsp; 4070 |
| &nbsp;&nbsp;&nbsp;Walt Disney Co. | &nbsp;&nbsp;&nbsp;&nbsp;30203 | &nbsp;&nbsp;&nbsp;&nbsp; 3597479 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3636684 |
| **Metal Fabricate/Hardware — 0.0%** | **Metal Fabricate/Hardware — 0.0%** | **Metal Fabricate/Hardware — 0.0%** |
| &nbsp;&nbsp;&nbsp;SKF AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407 | &nbsp;&nbsp;&nbsp;&nbsp; 9508 |
| &nbsp;&nbsp;&nbsp;Tenaris SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp;&nbsp;&nbsp; 7665 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17173 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Mining — 0.1%** | **Mining — 0.1%** | **Mining — 0.1%** |
| &nbsp;&nbsp;&nbsp;Angl0d American PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1226 | &nbsp;&nbsp;$34778 |
| &nbsp;&nbsp;&nbsp;Antofagasta PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397 | &nbsp;&nbsp;&nbsp;&nbsp; 9841 |
| &nbsp;&nbsp;&nbsp;BHP Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5548 | &nbsp;&nbsp;&nbsp;&nbsp; 139943 |
| &nbsp;&nbsp;&nbsp;Boliden AB† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326 | &nbsp;&nbsp;&nbsp;&nbsp; 10020 |
| &nbsp;&nbsp;&nbsp;Fresnillo PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212 | &nbsp;&nbsp;&nbsp;&nbsp; 3920 |
| &nbsp;&nbsp;&nbsp;Glencore PLC | &nbsp;&nbsp;&nbsp;&nbsp;11213 | &nbsp;&nbsp;&nbsp;&nbsp; 45129 |
| &nbsp;&nbsp;&nbsp;KGHM Polska Miedz SA† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154 | &nbsp;&nbsp;&nbsp;&nbsp; 5252 |
| &nbsp;&nbsp;&nbsp;Norsk Hydro ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1475 | &nbsp;&nbsp;&nbsp;&nbsp; 8783 |
| &nbsp;&nbsp;&nbsp;Northern Star Resources, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1646 | &nbsp;&nbsp;&nbsp;&nbsp; 16470 |
| &nbsp;&nbsp;&nbsp;Rio Tinto PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1226 | &nbsp;&nbsp;&nbsp;&nbsp; 72917 |
| &nbsp;&nbsp;&nbsp;Rio Tinto, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427 | &nbsp;&nbsp;&nbsp;&nbsp; 30652 |
| &nbsp;&nbsp;&nbsp;South32, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5107 | &nbsp;&nbsp;&nbsp;&nbsp; 9649 |
| &nbsp;&nbsp;&nbsp;Sumitomo Metal Mining Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 6674 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394028 |
| **Miscellaneous Manufacturing — 0.8%** | **Miscellaneous Manufacturing — 0.8%** | **Miscellaneous Manufacturing — 0.8%** |
| &nbsp;&nbsp;&nbsp;3M Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5916 | &nbsp;&nbsp;&nbsp;&nbsp; 882785 |
| &nbsp;&nbsp;&nbsp;Alfa Laval AB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327 | &nbsp;&nbsp;&nbsp;&nbsp; 14247 |
| &nbsp;&nbsp;&nbsp;Carlisle Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768 | &nbsp;&nbsp;&nbsp;&nbsp; 272417 |
| &nbsp;&nbsp;&nbsp;Indutrade AB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302 | &nbsp;&nbsp;&nbsp;&nbsp; 7355 |
| &nbsp;&nbsp;&nbsp;ITT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1825 | &nbsp;&nbsp;&nbsp;&nbsp; 310177 |
| &nbsp;&nbsp;&nbsp;Orica, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543 | &nbsp;&nbsp;&nbsp;&nbsp; 7461 |
| &nbsp;&nbsp;&nbsp;Siemens AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7072 | &nbsp;&nbsp;&nbsp;&nbsp; 1815070 |
| &nbsp;&nbsp;&nbsp;Smiths Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383 | &nbsp;&nbsp;&nbsp;&nbsp; 11897 |
| &nbsp;&nbsp;&nbsp;Trelleborg AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239 | &nbsp;&nbsp;&nbsp;&nbsp; 8696 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3330105 |
| **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp;Canon, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 31366 |
| &nbsp;&nbsp;&nbsp;Ricoh Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp; 5294 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36660 |
| **Oil & Gas — 1.5%** | **Oil & Gas — 1.5%** | **Oil & Gas — 1.5%** |
| &nbsp;&nbsp;&nbsp;Aker BP ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346 | &nbsp;&nbsp;&nbsp;&nbsp; 8377 |
| &nbsp;&nbsp;&nbsp;BP PLC | &nbsp;&nbsp;&nbsp;&nbsp;18004 | &nbsp;&nbsp;&nbsp;&nbsp; 96237 |
| &nbsp;&nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3677 | &nbsp;&nbsp;&nbsp;&nbsp; 557580 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5693 | &nbsp;&nbsp;&nbsp;&nbsp; 542771 |
| &nbsp;&nbsp;&nbsp;Coterra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6230 | &nbsp;&nbsp;&nbsp;&nbsp; 151950 |
| &nbsp;&nbsp;&nbsp;DCC PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106 | &nbsp;&nbsp;&nbsp;&nbsp; 6663 |
| &nbsp;&nbsp;&nbsp;ENEOS Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;&nbsp; 16840 |
| &nbsp;&nbsp;&nbsp;Eni SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2364 | &nbsp;&nbsp;&nbsp;&nbsp; 40224 |
| &nbsp;&nbsp;&nbsp;EOG Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4877 | &nbsp;&nbsp;&nbsp;&nbsp; 585337 |
| &nbsp;&nbsp;&nbsp;Equinor ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;817 | &nbsp;&nbsp;&nbsp;&nbsp; 21155 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26760 | &nbsp;&nbsp;&nbsp;&nbsp; 2987486 |
| &nbsp;&nbsp;&nbsp;Galp Energia SGPS SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476 | &nbsp;&nbsp;&nbsp;&nbsp; 9080 |
| &nbsp;&nbsp;&nbsp;Idemitsu Kosan Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 6424 |
| &nbsp;&nbsp;&nbsp;Inpex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 14241 |
| &nbsp;&nbsp;&nbsp;Neste Oyj | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483 | &nbsp;&nbsp;&nbsp;&nbsp; 7626 |
| &nbsp;&nbsp;&nbsp;OMV AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162 | &nbsp;&nbsp;&nbsp;&nbsp; 8260 |
| &nbsp;&nbsp;&nbsp;Orlen SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657 | &nbsp;&nbsp;&nbsp;&nbsp; 14667 |
| &nbsp;&nbsp;&nbsp;Repsol SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1303 | &nbsp;&nbsp;&nbsp;&nbsp; 19747 |
| &nbsp;&nbsp;&nbsp;Santos, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3531 | &nbsp;&nbsp;&nbsp;&nbsp; 17859 |
| &nbsp;&nbsp;&nbsp;Shell PLC | &nbsp;&nbsp;&nbsp;&nbsp;35461 | &nbsp;&nbsp;&nbsp;&nbsp; 1269604 |
| &nbsp;&nbsp;&nbsp;TotalEnergies SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2341 | &nbsp;&nbsp;&nbsp;&nbsp; 138974 |
| &nbsp;&nbsp;&nbsp;Var Energi ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;917 | &nbsp;&nbsp;&nbsp;&nbsp; 3163 |
| &nbsp;&nbsp;&nbsp;Woodside Energy Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2177 | &nbsp;&nbsp;&nbsp;&nbsp; 37201 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6561466 |
| **Oil & Gas Services — 0.7%** | **Oil & Gas Services — 0.7%** | **Oil & Gas Services — 0.7%** |
| &nbsp;&nbsp;&nbsp;Baker Hughes Co. | &nbsp;&nbsp;&nbsp;&nbsp;63816 | &nbsp;&nbsp;&nbsp;&nbsp; 2874911 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Oil & Gas Services (continued)** | **Oil & Gas Services (continued)** | **Oil & Gas Services (continued)** |
| &nbsp;&nbsp;&nbsp;Flowco Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3325 | &nbsp;&nbsp;$62177 |
| &nbsp;&nbsp;&nbsp;TechnipFMC PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5191 | &nbsp;&nbsp;&nbsp;&nbsp; 188797 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3125885 |
| **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** |
| &nbsp;&nbsp;&nbsp;Graphic Packaging Holding Co. | &nbsp;&nbsp;&nbsp;&nbsp;12451 | &nbsp;&nbsp;&nbsp;&nbsp; 278404 |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898 | &nbsp;&nbsp;&nbsp;&nbsp; 173988 |
| &nbsp;&nbsp;&nbsp;Silgan Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4446 | &nbsp;&nbsp;&nbsp;&nbsp; 206872 |
| &nbsp;&nbsp;&nbsp;Smurfit WestRock PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5975 | &nbsp;&nbsp;&nbsp;&nbsp; 265171 |
| &nbsp;&nbsp;&nbsp;Stora Enso Oyj, Class R | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523 | &nbsp;&nbsp;&nbsp;&nbsp; 5392 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;929827 |
| **Pharmaceuticals — 3.0%** | **Pharmaceuticals — 3.0%** | **Pharmaceuticals — 3.0%** |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13954 | &nbsp;&nbsp;&nbsp;&nbsp; 2637585 |
| &nbsp;&nbsp;&nbsp;Astellas Pharma, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp; 20935 |
| &nbsp;&nbsp;&nbsp;AstraZeneca PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8108 | &nbsp;&nbsp;&nbsp;&nbsp; 1212555 |
| &nbsp;&nbsp;&nbsp;Bayer AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1052 | &nbsp;&nbsp;&nbsp;&nbsp; 32835 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp;26733 | &nbsp;&nbsp;&nbsp;&nbsp; 1157806 |
| &nbsp;&nbsp;&nbsp;Cencora, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1507 | &nbsp;&nbsp;&nbsp;&nbsp; 431123 |
| &nbsp;&nbsp;&nbsp;Chugai Pharmaceutical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp; 39045 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2970 | &nbsp;&nbsp;&nbsp;&nbsp; 184437 |
| &nbsp;&nbsp;&nbsp;Daiichi Sankyo Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp; 51804 |
| &nbsp;&nbsp;&nbsp;Eisai Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 8501 |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1234 | &nbsp;&nbsp;&nbsp;&nbsp; 913246 |
| &nbsp;&nbsp;&nbsp;Galderma Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;&nbsp;&nbsp; 22133 |
| &nbsp;&nbsp;&nbsp;GSK PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4652 | &nbsp;&nbsp;&nbsp;&nbsp; 87117 |
| &nbsp;&nbsp;&nbsp;Henry Schein, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6141 | &nbsp;&nbsp;&nbsp;&nbsp; 415439 |
| &nbsp;&nbsp;&nbsp;Hikma Pharmaceuticals PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174 | &nbsp;&nbsp;&nbsp;&nbsp; 4513 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;16096 | &nbsp;&nbsp;&nbsp;&nbsp; 2651655 |
| &nbsp;&nbsp;&nbsp;Kyowa Kirin Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 5166 |
| &nbsp;&nbsp;&nbsp;McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;&nbsp;&nbsp; 287819 |
| &nbsp;&nbsp;&nbsp;Merck & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2629 | &nbsp;&nbsp;&nbsp;&nbsp; 205378 |
| &nbsp;&nbsp;&nbsp;Merck KGaA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147 | &nbsp;&nbsp;&nbsp;&nbsp; 18504 |
| &nbsp;&nbsp;&nbsp;Neurocrine Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1661 | &nbsp;&nbsp;&nbsp;&nbsp; 212990 |
| &nbsp;&nbsp;&nbsp;Novartis AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6783 | &nbsp;&nbsp;&nbsp;&nbsp; 786569 |
| &nbsp;&nbsp;&nbsp;Novo Nordisk A/S, Class B | &nbsp;&nbsp;&nbsp;&nbsp;13362 | &nbsp;&nbsp;&nbsp;&nbsp; 642487 |
| &nbsp;&nbsp;&nbsp;Ono Pharmaceutical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 4484 |
| &nbsp;&nbsp;&nbsp;Orion Oyj, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp; 3818 |
| &nbsp;&nbsp;&nbsp;Orion Oyj, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121 | &nbsp;&nbsp;&nbsp;&nbsp; 9707 |
| &nbsp;&nbsp;&nbsp;Otsuka Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 24214 |
| &nbsp;&nbsp;&nbsp;Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp;&nbsp;&nbsp; 6327 |
| &nbsp;&nbsp;&nbsp;Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792 | &nbsp;&nbsp;&nbsp;&nbsp; 250690 |
| &nbsp;&nbsp;&nbsp;Roche Holding AG (BR) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp;&nbsp;&nbsp; 12091 |
| &nbsp;&nbsp;&nbsp;Sandoz Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp; 27328 |
| &nbsp;&nbsp;&nbsp;Sanofi SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4481 | &nbsp;&nbsp;&nbsp;&nbsp; 403165 |
| &nbsp;&nbsp;&nbsp;Shionogi & Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 16883 |
| &nbsp;&nbsp;&nbsp;Sigma Healthcare, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6381 | &nbsp;&nbsp;&nbsp;&nbsp; 11851 |
| &nbsp;&nbsp;&nbsp;Takeda Pharmaceutical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp; 50133 |
| &nbsp;&nbsp;&nbsp;Teva Pharmaceutical Industries, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1311 | &nbsp;&nbsp;&nbsp;&nbsp; 21590 |
| &nbsp;&nbsp;&nbsp;UCB SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp;&nbsp; 29341 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;12901264 |
| **Pipelines — 0.2%** | **Pipelines — 0.2%** | **Pipelines — 0.2%** |
| &nbsp;&nbsp;&nbsp;APA Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1495 | &nbsp;&nbsp;&nbsp;&nbsp; 8061 |
| &nbsp;&nbsp;&nbsp;Cheniere Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;717 | &nbsp;&nbsp;&nbsp;&nbsp; 169126 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8491 | &nbsp;&nbsp;&nbsp;&nbsp; 238257 |
| &nbsp;&nbsp;&nbsp;Williams Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7147 | &nbsp;&nbsp;&nbsp;&nbsp; 428463 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;843907 |
| **Private Equity — 0.5%** | **Private Equity — 0.5%** | **Private Equity — 0.5%** |
| &nbsp;&nbsp;&nbsp;3i Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;13034 | &nbsp;&nbsp;&nbsp;&nbsp; 714526 |
| &nbsp;&nbsp;&nbsp;Blackstone, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7869 | &nbsp;&nbsp;&nbsp;&nbsp; 1361022 |
| &nbsp;&nbsp;&nbsp;CapitaLand Investment, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp; 4496 |
| &nbsp;&nbsp;&nbsp;CVC Capital Partners PLC\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893 | &nbsp;&nbsp;&nbsp;&nbsp; 17233 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Private Equity (continued)** | **Private Equity (continued)** | **Private Equity (continued)** |
| &nbsp;&nbsp;&nbsp;EQT AB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805 | &nbsp;&nbsp;$27030 |
| &nbsp;&nbsp;&nbsp;Intermediate Capital Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328 | &nbsp;&nbsp;&nbsp;&nbsp; 9435 |
| &nbsp;&nbsp;&nbsp;Partners Group Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp;&nbsp;&nbsp; 35259 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2169001 |
| **Real Estate — 0.2%** | **Real Estate — 0.2%** | **Real Estate — 0.2%** |
| &nbsp;&nbsp;&nbsp;Azrieli Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp;&nbsp;&nbsp; 4049 |
| &nbsp;&nbsp;&nbsp;Castellum AB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479 | &nbsp;&nbsp;&nbsp;&nbsp; 5466 |
| &nbsp;&nbsp;&nbsp;CBRE Group, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682 | &nbsp;&nbsp;&nbsp;&nbsp; 106215 |
| &nbsp;&nbsp;&nbsp;CK Asset Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp; 9185 |
| &nbsp;&nbsp;&nbsp;Daito Trust Construction Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 10292 |
| &nbsp;&nbsp;&nbsp;Fastighets AB Balder, Class B† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;802 | &nbsp;&nbsp;&nbsp;&nbsp; 5432 |
| &nbsp;&nbsp;&nbsp;Henderson Land Development Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp; 7006 |
| &nbsp;&nbsp;&nbsp;Hulic Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 6710 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Estate Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 28209 |
| &nbsp;&nbsp;&nbsp;Mitsui Fudosan Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;45200 | &nbsp;&nbsp;&nbsp;&nbsp; 407190 |
| &nbsp;&nbsp;&nbsp;REA Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57 | &nbsp;&nbsp;&nbsp;&nbsp; 8772 |
| &nbsp;&nbsp;&nbsp;Sagax AB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp; 509 |
| &nbsp;&nbsp;&nbsp;Sagax AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242 | &nbsp;&nbsp;&nbsp;&nbsp; 5132 |
| &nbsp;&nbsp;&nbsp;Sino Land Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp; 4611 |
| &nbsp;&nbsp;&nbsp;Sumitomo Realty & Development Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 18375 |
| &nbsp;&nbsp;&nbsp;Sun Hung Kai Properties, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp; 23822 |
| &nbsp;&nbsp;&nbsp;Swire Pacific, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 4525 |
| &nbsp;&nbsp;&nbsp;Swire Properties, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp; 3763 |
| &nbsp;&nbsp;&nbsp;Vonovia SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;944 | &nbsp;&nbsp;&nbsp;&nbsp; 29388 |
| &nbsp;&nbsp;&nbsp;Wharf Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 2847 |
| &nbsp;&nbsp;&nbsp;Wharf Real Estate Investment Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp; 6357 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697855 |
| **REITS — 0.9%** | **REITS — 0.9%** | **REITS — 0.9%** |
| &nbsp;&nbsp;&nbsp;American Homes 4 Rent, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8352 | &nbsp;&nbsp;&nbsp;&nbsp; 289731 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4086 | &nbsp;&nbsp;&nbsp;&nbsp; 851482 |
| &nbsp;&nbsp;&nbsp;Apple Hospitality REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4803 | &nbsp;&nbsp;&nbsp;&nbsp; 56435 |
| &nbsp;&nbsp;&nbsp;CapitaLand Ascendas REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3872 | &nbsp;&nbsp;&nbsp;&nbsp; 8320 |
| &nbsp;&nbsp;&nbsp;CapitaLand Integrated Commercial Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5127 | &nbsp;&nbsp;&nbsp;&nbsp; 8687 |
| &nbsp;&nbsp;&nbsp;CBL & Associates Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5513 | &nbsp;&nbsp;&nbsp;&nbsp; 149182 |
| &nbsp;&nbsp;&nbsp;Dexus | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1213 | &nbsp;&nbsp;&nbsp;&nbsp; 5511 |
| &nbsp;&nbsp;&nbsp;EastGroup Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614 | &nbsp;&nbsp;&nbsp;&nbsp; 100229 |
| &nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183 | &nbsp;&nbsp;&nbsp;&nbsp; 143686 |
| &nbsp;&nbsp;&nbsp;Goodman Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2203 | &nbsp;&nbsp;&nbsp;&nbsp; 49806 |
| &nbsp;&nbsp;&nbsp;GPT Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2158 | &nbsp;&nbsp;&nbsp;&nbsp; 7073 |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12687 | &nbsp;&nbsp;&nbsp;&nbsp; 199440 |
| &nbsp;&nbsp;&nbsp;Japan Real Estate Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp; 6520 |
| &nbsp;&nbsp;&nbsp;Lamar Advertising Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1690 | &nbsp;&nbsp;&nbsp;&nbsp; 206603 |
| &nbsp;&nbsp;&nbsp;Land Securities Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;793 | &nbsp;&nbsp;&nbsp;&nbsp; 6048 |
| &nbsp;&nbsp;&nbsp;Link REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp; 16218 |
| &nbsp;&nbsp;&nbsp;Mapletree Pan Asia Commercial Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp; 1689 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartment Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1968 | &nbsp;&nbsp;&nbsp;&nbsp; 280302 |
| &nbsp;&nbsp;&nbsp;Mirvac Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4448 | &nbsp;&nbsp;&nbsp;&nbsp; 6432 |
| &nbsp;&nbsp;&nbsp;Nippon Building Fund, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp; 9198 |
| &nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3594 | &nbsp;&nbsp;&nbsp;&nbsp; 383767 |
| &nbsp;&nbsp;&nbsp;Public Storage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820 | &nbsp;&nbsp;&nbsp;&nbsp; 222991 |
| &nbsp;&nbsp;&nbsp;Rayonier, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5987 | &nbsp;&nbsp;&nbsp;&nbsp; 139557 |
| &nbsp;&nbsp;&nbsp;Regency Centers Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4203 | &nbsp;&nbsp;&nbsp;&nbsp; 300094 |
| &nbsp;&nbsp;&nbsp;SBA Communications Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;881 | &nbsp;&nbsp;&nbsp;&nbsp; 197978 |
| &nbsp;&nbsp;&nbsp;Scentre Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5953 | &nbsp;&nbsp;&nbsp;&nbsp; 14346 |
| &nbsp;&nbsp;&nbsp;Segro PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1421 | &nbsp;&nbsp;&nbsp;&nbsp; 12150 |
| &nbsp;&nbsp;&nbsp;Stockland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2688 | &nbsp;&nbsp;&nbsp;&nbsp; 9587 |
| &nbsp;&nbsp;&nbsp;Vicinity, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4085 | &nbsp;&nbsp;&nbsp;&nbsp; 6484 |
| &nbsp;&nbsp;&nbsp;Warehouses De Pauw CVA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;&nbsp;&nbsp; 2529 |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6104 | &nbsp;&nbsp;&nbsp;&nbsp; 152905 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3844980 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Retail — 3.1%** | **Retail — 3.1%** | **Retail — 3.1%** |
| &nbsp;&nbsp;&nbsp;Alimentation Couche-Tard, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7297 | &nbsp;&nbsp;$379174 |
| &nbsp;&nbsp;&nbsp;Associated British Foods PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338 | &nbsp;&nbsp;&nbsp;&nbsp; 9811 |
| &nbsp;&nbsp;&nbsp;AutoZone, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136 | &nbsp;&nbsp;&nbsp;&nbsp; 512500 |
| &nbsp;&nbsp;&nbsp;Bath & Body Works, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3425 | &nbsp;&nbsp;&nbsp;&nbsp; 99188 |
| &nbsp;&nbsp;&nbsp;Best Buy Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2279 | &nbsp;&nbsp;&nbsp;&nbsp; 148272 |
| &nbsp;&nbsp;&nbsp;Carvana Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536 | &nbsp;&nbsp;&nbsp;&nbsp; 209131 |
| &nbsp;&nbsp;&nbsp;Casey's General Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305 | &nbsp;&nbsp;&nbsp;&nbsp; 158640 |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;25980 | &nbsp;&nbsp;&nbsp;&nbsp; 1114022 |
| &nbsp;&nbsp;&nbsp;Cie Financiere Richemont SA, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612 | &nbsp;&nbsp;&nbsp;&nbsp; 100512 |
| &nbsp;&nbsp;&nbsp;CK Hutchison Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp; 19643 |
| &nbsp;&nbsp;&nbsp;Fast Retailing Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 61512 |
| &nbsp;&nbsp;&nbsp;H & M Hennes & Mauritz AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589 | &nbsp;&nbsp;&nbsp;&nbsp; 7963 |
| &nbsp;&nbsp;&nbsp;Home Depot, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638 | &nbsp;&nbsp;&nbsp;&nbsp; 234471 |
| &nbsp;&nbsp;&nbsp;Industria de Diseno Textil SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1271 | &nbsp;&nbsp;&nbsp;&nbsp; 60789 |
| &nbsp;&nbsp;&nbsp;Jardine Cycle & Carriage, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 2029 |
| &nbsp;&nbsp;&nbsp;JD Sports Fashion PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2823 | &nbsp;&nbsp;&nbsp;&nbsp; 3186 |
| &nbsp;&nbsp;&nbsp;Kingfisher PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1959 | &nbsp;&nbsp;&nbsp;&nbsp; 6998 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11611 | &nbsp;&nbsp;&nbsp;&nbsp; 2595871 |
| &nbsp;&nbsp;&nbsp;MatsukiyoCocokara & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 8231 |
| &nbsp;&nbsp;&nbsp;McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8807 | &nbsp;&nbsp;&nbsp;&nbsp; 2642717 |
| &nbsp;&nbsp;&nbsp;McDonald's Holdings Co. Japan, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 4005 |
| &nbsp;&nbsp;&nbsp;Moncler SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242 | &nbsp;&nbsp;&nbsp;&nbsp; 12963 |
| &nbsp;&nbsp;&nbsp;Murphy USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354 | &nbsp;&nbsp;&nbsp;&nbsp; 128318 |
| &nbsp;&nbsp;&nbsp;Next PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132 | &nbsp;&nbsp;&nbsp;&nbsp; 21460 |
| &nbsp;&nbsp;&nbsp;Nitori Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 8584 |
| &nbsp;&nbsp;&nbsp;Pan Pacific International Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp; 20169 |
| &nbsp;&nbsp;&nbsp;Pandora A/S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88 | &nbsp;&nbsp;&nbsp;&nbsp; 14605 |
| &nbsp;&nbsp;&nbsp;Reece, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp; 3409 |
| &nbsp;&nbsp;&nbsp;Ross Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6461 | &nbsp;&nbsp;&nbsp;&nbsp; 882185 |
| &nbsp;&nbsp;&nbsp;TJX Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2566 | &nbsp;&nbsp;&nbsp;&nbsp; 319544 |
| &nbsp;&nbsp;&nbsp;Tokyo Gas Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 13393 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394 | &nbsp;&nbsp;&nbsp;&nbsp; 202914 |
| &nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13953 | &nbsp;&nbsp;&nbsp;&nbsp; 1367115 |
| &nbsp;&nbsp;&nbsp;Wesfarmers, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1302 | &nbsp;&nbsp;&nbsp;&nbsp; 71750 |
| &nbsp;&nbsp;&nbsp;Yum China Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24174 | &nbsp;&nbsp;&nbsp;&nbsp; 1128442 |
| &nbsp;&nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3945 | &nbsp;&nbsp;&nbsp;&nbsp; 568672 |
| &nbsp;&nbsp;&nbsp;Zensho Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 5302 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;13147490 |
| **Semiconductors — 6.1%** | **Semiconductors — 6.1%** | **Semiconductors — 6.1%** |
| &nbsp;&nbsp;&nbsp;Advantest Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp; 61771 |
| &nbsp;&nbsp;&nbsp;Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2605 | &nbsp;&nbsp;&nbsp;&nbsp; 585161 |
| &nbsp;&nbsp;&nbsp;ASM International NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp; 24393 |
| &nbsp;&nbsp;&nbsp;ASML Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1650 | &nbsp;&nbsp;&nbsp;&nbsp; 1154455 |
| &nbsp;&nbsp;&nbsp;ASML Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511 | &nbsp;&nbsp;&nbsp;&nbsp; 354997 |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12112 | &nbsp;&nbsp;&nbsp;&nbsp; 3557294 |
| &nbsp;&nbsp;&nbsp;Disco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 151028 |
| &nbsp;&nbsp;&nbsp;Infineon Technologies AG | &nbsp;&nbsp;&nbsp;&nbsp;11506 | &nbsp;&nbsp;&nbsp;&nbsp; 454780 |
| &nbsp;&nbsp;&nbsp;Lasertec Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 10292 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;79022 | &nbsp;&nbsp;&nbsp;&nbsp; 14055643 |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7181 | &nbsp;&nbsp;&nbsp;&nbsp; 1535082 |
| &nbsp;&nbsp;&nbsp;ON Semiconductor Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2654 | &nbsp;&nbsp;&nbsp;&nbsp; 149579 |
| &nbsp;&nbsp;&nbsp;Renesas Electronics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp; 22273 |
| &nbsp;&nbsp;&nbsp;SK Hynix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2218 | &nbsp;&nbsp;&nbsp;&nbsp; 437427 |
| &nbsp;&nbsp;&nbsp;STMicroelectronics NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734 | &nbsp;&nbsp;&nbsp;&nbsp; 18809 |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co., Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;12928 | &nbsp;&nbsp;&nbsp;&nbsp; 3123663 |
| &nbsp;&nbsp;&nbsp;Teradyne, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1286 | &nbsp;&nbsp;&nbsp;&nbsp; 138155 |
| &nbsp;&nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2101 | &nbsp;&nbsp;&nbsp;&nbsp; 380407 |
| &nbsp;&nbsp;&nbsp;Tokyo Electron, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 90617 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;26305826 |
| **Shipbuilding — 0.0%** | **Shipbuilding — 0.0%** | **Shipbuilding — 0.0%** |
| &nbsp;&nbsp;&nbsp;Kongsberg Gruppen ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485 | &nbsp;&nbsp;&nbsp;&nbsp; 14531 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Software — 5.5%** | **Software — 5.5%** | **Software — 5.5%** |
| &nbsp;&nbsp;&nbsp;AppLovin Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254 | &nbsp;&nbsp;$99238 |
| &nbsp;&nbsp;&nbsp;Atlassian Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp;&nbsp;&nbsp; 187944 |
| &nbsp;&nbsp;&nbsp;Capcom Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 10281 |
| &nbsp;&nbsp;&nbsp;Dassault Systemes SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769 | &nbsp;&nbsp;&nbsp;&nbsp; 25353 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17487 | &nbsp;&nbsp;&nbsp;&nbsp; 1388643 |
| &nbsp;&nbsp;&nbsp;Figma, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695 | &nbsp;&nbsp;&nbsp;&nbsp; 80273 |
| &nbsp;&nbsp;&nbsp;HubSpot, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421 | &nbsp;&nbsp;&nbsp;&nbsp; 218773 |
| &nbsp;&nbsp;&nbsp;Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1879 | &nbsp;&nbsp;&nbsp;&nbsp; 1475259 |
| &nbsp;&nbsp;&nbsp;Konami Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 13607 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;29037 | &nbsp;&nbsp;&nbsp;&nbsp; 15491239 |
| &nbsp;&nbsp;&nbsp;Nexon Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 9198 |
| &nbsp;&nbsp;&nbsp;Nice, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp;&nbsp;&nbsp; 11457 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7485 | &nbsp;&nbsp;&nbsp;&nbsp; 1899468 |
| &nbsp;&nbsp;&nbsp;Pro Medicus, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp;&nbsp;&nbsp; 13032 |
| &nbsp;&nbsp;&nbsp;Sage Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1114 | &nbsp;&nbsp;&nbsp;&nbsp; 17949 |
| &nbsp;&nbsp;&nbsp;Salesforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3799 | &nbsp;&nbsp;&nbsp;&nbsp; 981396 |
| &nbsp;&nbsp;&nbsp;SAP SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1179 | &nbsp;&nbsp;&nbsp;&nbsp; 337445 |
| &nbsp;&nbsp;&nbsp;ServiceNow, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp; 179193 |
| &nbsp;&nbsp;&nbsp;Snowflake, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1639 | &nbsp;&nbsp;&nbsp;&nbsp; 366316 |
| &nbsp;&nbsp;&nbsp;Square Enix Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 6810 |
| &nbsp;&nbsp;&nbsp;Synopsys, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;&nbsp;&nbsp; 262890 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1334 | &nbsp;&nbsp;&nbsp;&nbsp; 297122 |
| &nbsp;&nbsp;&nbsp;TIS, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 9621 |
| &nbsp;&nbsp;&nbsp;Twilio, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1094 | &nbsp;&nbsp;&nbsp;&nbsp; 141126 |
| &nbsp;&nbsp;&nbsp;WiseTech Global, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196 | &nbsp;&nbsp;&nbsp;&nbsp; 15037 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;23538670 |
| **Telecommunications — 0.6%** | **Telecommunications — 0.6%** | **Telecommunications — 0.6%** |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25724 | &nbsp;&nbsp;&nbsp;&nbsp; 705095 |
| &nbsp;&nbsp;&nbsp;BT Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7107 | &nbsp;&nbsp;&nbsp;&nbsp; 19438 |
| &nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1603 | &nbsp;&nbsp;&nbsp;&nbsp; 109132 |
| &nbsp;&nbsp;&nbsp;Deutsche Telekom AG | &nbsp;&nbsp;&nbsp;&nbsp;13898 | &nbsp;&nbsp;&nbsp;&nbsp; 499285 |
| &nbsp;&nbsp;&nbsp;Elisa Oyj | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp; 8246 |
| &nbsp;&nbsp;&nbsp;HKT Trust & HKT, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp; 6298 |
| &nbsp;&nbsp;&nbsp;KDDI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp; 54391 |
| &nbsp;&nbsp;&nbsp;Koninklijke KPN NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4442 | &nbsp;&nbsp;&nbsp;&nbsp; 19871 |
| &nbsp;&nbsp;&nbsp;Nokia Oyj | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5788 | &nbsp;&nbsp;&nbsp;&nbsp; 23700 |
| &nbsp;&nbsp;&nbsp;NTT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31500 | &nbsp;&nbsp;&nbsp;&nbsp; 31897 |
| &nbsp;&nbsp;&nbsp;Orange SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002 | &nbsp;&nbsp;&nbsp;&nbsp; 30489 |
| &nbsp;&nbsp;&nbsp;Singapore Telecommunications, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;&nbsp; 25531 |
| &nbsp;&nbsp;&nbsp;Singapore Telecommunications, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp; 2689 |
| &nbsp;&nbsp;&nbsp;SoftBank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32300 | &nbsp;&nbsp;&nbsp;&nbsp; 46822 |
| &nbsp;&nbsp;&nbsp;SoftBank Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 86147 |
| &nbsp;&nbsp;&nbsp;Swisscom AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp;&nbsp;&nbsp; 21583 |
| &nbsp;&nbsp;&nbsp;Tele2 AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622 | &nbsp;&nbsp;&nbsp;&nbsp; 9614 |
| &nbsp;&nbsp;&nbsp;Telecom Italia SpA† | &nbsp;&nbsp;&nbsp;&nbsp;14230 | &nbsp;&nbsp;&nbsp;&nbsp; 6556 |
| &nbsp;&nbsp;&nbsp;Telefonaktiebolaget LM Ericsson, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63 | &nbsp;&nbsp;&nbsp;&nbsp; 460 |
| &nbsp;&nbsp;&nbsp;Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2953 | &nbsp;&nbsp;&nbsp;&nbsp; 21520 |
| &nbsp;&nbsp;&nbsp;Telefonica SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5168 | &nbsp;&nbsp;&nbsp;&nbsp; 26681 |
| &nbsp;&nbsp;&nbsp;Telekom Austria AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp; 1327 |
| &nbsp;&nbsp;&nbsp;Telenor ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711 | &nbsp;&nbsp;&nbsp;&nbsp; 10914 |
| &nbsp;&nbsp;&nbsp;Telia Co. AB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2655 | &nbsp;&nbsp;&nbsp;&nbsp; 9387 |
| &nbsp;&nbsp;&nbsp;Telstra Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;126340 | &nbsp;&nbsp;&nbsp;&nbsp; 403526 |
| &nbsp;&nbsp;&nbsp;TPG Telecom, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;802 | &nbsp;&nbsp;&nbsp;&nbsp; 2855 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6370 | &nbsp;&nbsp;&nbsp;&nbsp; 272381 |
| &nbsp;&nbsp;&nbsp;Vodafone Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;22815 | &nbsp;&nbsp;&nbsp;&nbsp; 24713 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2480548 |
| **Toys/Games/Hobbies — 0.0%** | **Toys/Games/Hobbies — 0.0%** | **Toys/Games/Hobbies — 0.0%** |
| &nbsp;&nbsp;&nbsp;Bandai Namco Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp; 26037 |
| &nbsp;&nbsp;&nbsp;Nintendo Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp; 109397 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135434 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Transportation — 0.4%** | **Transportation — 0.4%** | **Transportation — 0.4%** |
| &nbsp;&nbsp;&nbsp;AP Moller-Maersk A/S, Series A | &nbsp;&nbsp; 3 | &nbsp;&nbsp;$5908 |
| &nbsp;&nbsp;&nbsp;AP Moller-Maersk A/S, Series B | &nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; 7947 |
| &nbsp;&nbsp;&nbsp;Central Japan Railway Co. | &nbsp;&nbsp; 1200 | &nbsp;&nbsp;&nbsp;&nbsp; 27939 |
| &nbsp;&nbsp;&nbsp;CSX Corp. | &nbsp;&nbsp; 16017 | &nbsp;&nbsp;&nbsp;&nbsp; 569244 |
| &nbsp;&nbsp;&nbsp;Deutsche Post AG | &nbsp;&nbsp; 1086 | &nbsp;&nbsp;&nbsp;&nbsp; 48892 |
| &nbsp;&nbsp;&nbsp;DSV A/S | &nbsp;&nbsp; 218 | &nbsp;&nbsp;&nbsp;&nbsp; 48811 |
| &nbsp;&nbsp;&nbsp;East Japan Railway Co. | &nbsp;&nbsp; 1300 | &nbsp;&nbsp;&nbsp;&nbsp; 27741 |
| &nbsp;&nbsp;&nbsp;FedEx Corp. | &nbsp;&nbsp; 1350 | &nbsp;&nbsp;&nbsp;&nbsp; 301712 |
| &nbsp;&nbsp;&nbsp;Hankyu Hanshin Holdings, Inc. | &nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp; 7830 |
| &nbsp;&nbsp;&nbsp;JB Hunt Transport Services, Inc. | &nbsp;&nbsp; 1529 | &nbsp;&nbsp;&nbsp;&nbsp; 220253 |
| &nbsp;&nbsp;&nbsp;Kawasaki Kisen Kaisha, Ltd. | &nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp; 5683 |
| &nbsp;&nbsp;&nbsp;Kuehne & Nagel International AG | &nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp; 11667 |
| &nbsp;&nbsp;&nbsp;Mitsui OSK Lines, Ltd. | &nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp; 13488 |
| &nbsp;&nbsp;&nbsp;MTR Corp., Ltd. | &nbsp;&nbsp; 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 7197 |
| &nbsp;&nbsp;&nbsp;Nippon Yusen KK | &nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 17576 |
| &nbsp;&nbsp;&nbsp;Poste Italiane SpA\* | &nbsp;&nbsp; 518 | &nbsp;&nbsp;&nbsp;&nbsp; 11211 |
| &nbsp;&nbsp;&nbsp;SG Holdings Co., Ltd. | &nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp; 4460 |
| &nbsp;&nbsp;&nbsp;Tokyu Corp. | &nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp; 6788 |
| &nbsp;&nbsp;&nbsp;Union Pacific Corp. | &nbsp;&nbsp; 1135 | &nbsp;&nbsp;&nbsp;&nbsp; 251936 |
| &nbsp;&nbsp;&nbsp;West Japan Railway Co. | &nbsp;&nbsp; 500 | &nbsp;&nbsp;&nbsp;&nbsp; 11011 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1607294 |
| **Water — 0.0%** | **Water — 0.0%** | **Water — 0.0%** |
| &nbsp;&nbsp;&nbsp;Severn Trent PLC | &nbsp;&nbsp; 304 | &nbsp;&nbsp;&nbsp;&nbsp; 10635 |
| &nbsp;&nbsp;&nbsp;United Utilities Group PLC | &nbsp;&nbsp; 782 | &nbsp;&nbsp;&nbsp;&nbsp; 11644 |
| &nbsp;&nbsp;&nbsp;Veolia Environnement SA | &nbsp;&nbsp; 727 | &nbsp;&nbsp;&nbsp;&nbsp; 24641 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46920 |
| **Total Common Stocks<br> (cost $212,410,131)** |  | &nbsp;&nbsp;&nbsp;&nbsp;253994962 |
| **PREFERRED STOCKS — 0.0%** | **PREFERRED STOCKS — 0.0%** | **PREFERRED STOCKS — 0.0%** |
| **Telecommunications — 0.0%** | **Telecommunications — 0.0%** | **Telecommunications — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Telecom Italia SpA (RSP)†<br> (cost $1,932) | &nbsp;&nbsp; 6795 | &nbsp;&nbsp;&nbsp;&nbsp; 3506 |
| **CORPORATE BONDS & NOTES — 15.4%** | **CORPORATE BONDS & NOTES — 15.4%** | **CORPORATE BONDS & NOTES — 15.4%** |
| **Advertising — 0.1%** | **Advertising — 0.1%** | **Advertising — 0.1%** |
| &nbsp;&nbsp;&nbsp;Clear Channel Outdoor Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 08/15/2027\* | $150000 | &nbsp;&nbsp;&nbsp;&nbsp; 149796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.13%, 02/15/2031\* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 79890 |
| &nbsp;&nbsp;&nbsp;Lamar Media Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 01/15/2029 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 142398 |
| &nbsp;&nbsp;&nbsp;Outfront Media Capital LLC/Outfront Media Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 02/15/2031\* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 94497 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466581 |
| **Aerospace/Defense — 0.5%** | **Aerospace/Defense — 0.5%** | **Aerospace/Defense — 0.5%** |
| &nbsp;&nbsp;&nbsp;Boeing Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 08/01/2059 | &nbsp;&nbsp; 565000 | &nbsp;&nbsp;&nbsp;&nbsp; 388449 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 01/15/2028 | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 94440 |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40%, 06/15/2028 | &nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 79937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40%, 06/15/2028 | &nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp;&nbsp; 264790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 01/15/2027 | &nbsp;&nbsp; 390000 | &nbsp;&nbsp;&nbsp;&nbsp; 394809 |
| &nbsp;&nbsp;&nbsp;RTX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 11/16/2028 | &nbsp;&nbsp; 765000 | &nbsp;&nbsp;&nbsp;&nbsp; 759603 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1982028 |
| **Agriculture — 0.4%** | **Agriculture — 0.4%** | **Agriculture — 0.4%** |
| &nbsp;&nbsp;&nbsp;Altria Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 02/04/2032 | &nbsp;&nbsp; 645000 | &nbsp;&nbsp;&nbsp;&nbsp; 555436 |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.22%, 09/06/2026 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98578 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Agriculture (continued)** | **Agriculture (continued)** | **Agriculture (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.83%, 02/20/2031 | $482000 | &nbsp;&nbsp;$504778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.08%, 08/02/2043 | &nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 16507 |
| &nbsp;&nbsp;&nbsp;Bunge, Ltd. Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.63%, 08/17/2025 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 124806 |
| &nbsp;&nbsp;&nbsp;Japan Tobacco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 06/15/2035\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 155989 |
| &nbsp;&nbsp;&nbsp;JBS USA Holding LUX SARL/JBS USA Food Co./JBS LUX Co. SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 04/20/2035\* | &nbsp;&nbsp; 29000 | &nbsp;&nbsp;&nbsp;&nbsp; 29923 |
| &nbsp;&nbsp;&nbsp;Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 08/21/2042 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp; 144763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 02/15/2033 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 179593 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1810373 |
| **Airlines — 0.0%** | **Airlines — 0.0%** | **Airlines — 0.0%** |
| &nbsp;&nbsp;&nbsp;American Airlines, Inc./AAdvantage Loyalty IP, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 04/20/2029\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 149947 |
| **Auto Manufacturers — 0.4%** | **Auto Manufacturers — 0.4%** | **Auto Manufacturers — 0.4%** |
| &nbsp;&nbsp;&nbsp;Allison Transmission, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 10/01/2027\* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 19799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 06/01/2029\* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 110702 |
| &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.11%, 05/03/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 391309 |
| &nbsp;&nbsp;&nbsp;General Motors Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 04/01/2049 | &nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 75548 |
| &nbsp;&nbsp;&nbsp;General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 03/01/2026 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 04/04/2034 | &nbsp;&nbsp; 235000 | &nbsp;&nbsp;&nbsp;&nbsp; 238852 |
| &nbsp;&nbsp;&nbsp;Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 11/01/2027\* | &nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp;&nbsp; 265687 |
| &nbsp;&nbsp;&nbsp;Volkswagen Group of America Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 08/15/2029\* | &nbsp;&nbsp; 360000 | &nbsp;&nbsp;&nbsp;&nbsp; 360549 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1562541 |
| **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** |
| &nbsp;&nbsp;&nbsp;Adient Global Holdings, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 04/15/2028\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204723 |
| &nbsp;&nbsp;&nbsp;Clarios Global LP/Clarios US Finance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 02/15/2030\* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51552 |
| &nbsp;&nbsp;&nbsp;Goodyear Tire & Rubber Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 04/30/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 94969 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351244 |
| **Banks — 5.2%** | **Banks — 5.2%** | **Banks — 5.2%** |
| &nbsp;&nbsp;&nbsp;ABN AMRO Bank NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.54%, 06/16/2027\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 389231 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.66%, 03/11/2027 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 245527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.73%, 07/22/2027 | &nbsp;&nbsp; 865000 | &nbsp;&nbsp;&nbsp;&nbsp; 841226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55%, 02/04/2028 | &nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 252621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.59%, 04/29/2031 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp; 146260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.57%, 04/27/2033 | &nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp;&nbsp; 260892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.16%, 01/24/2031 | &nbsp;&nbsp; 320000 | &nbsp;&nbsp;&nbsp;&nbsp; 327390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 04/25/2029 | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 30559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.51%, 01/24/2036 | &nbsp;&nbsp; 171000 | &nbsp;&nbsp;&nbsp;&nbsp; 175228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.82%, 09/15/2029 | &nbsp;&nbsp; 725000 | &nbsp;&nbsp;&nbsp;&nbsp; 753197 |
| &nbsp;&nbsp;&nbsp;BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.79%, 01/13/2033\* | &nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp;&nbsp; 300922 |
| &nbsp;&nbsp;&nbsp;BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.65%, 10/06/2026\* | &nbsp;&nbsp; 430000 | &nbsp;&nbsp;&nbsp;&nbsp; 427399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 01/14/2031\* | &nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp; 595858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.71%, 10/19/2029\* | &nbsp;&nbsp; 610000 | &nbsp;&nbsp;&nbsp;&nbsp; 645258 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;CaixaBank SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.84%, 09/13/2034\* | $335000 | &nbsp;&nbsp;$368283 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.12%, 01/28/2027 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 245562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 10/21/2026 | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 44310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.52%, 10/27/2028 | &nbsp;&nbsp; 410000 | &nbsp;&nbsp;&nbsp;&nbsp; 401062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.54%, 09/19/2030 | &nbsp;&nbsp; 615000 | &nbsp;&nbsp;&nbsp;&nbsp; 612504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 05/07/2031 | &nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp; 312944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.17%, 02/13/2030 | &nbsp;&nbsp; 655000 | &nbsp;&nbsp;&nbsp;&nbsp; 666919 |
| &nbsp;&nbsp;&nbsp;Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 09/11/2028\* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 254883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.86%, 01/09/2036\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 258539 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.82%, 11/20/2029 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 159657 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank AG/New York NY |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 08/04/2031 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 250414 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Bank USA FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, (SOFR+0.77%), 03/18/2027 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp; 160324 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.54%, 09/10/2027 | &nbsp;&nbsp; 505000 | &nbsp;&nbsp;&nbsp;&nbsp; 488027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.95%, 10/21/2027 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 02/24/2033 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 292196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.62%, 03/15/2028 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 137930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.69%, 10/23/2030 | &nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 459647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.94%, 04/23/2028 | &nbsp;&nbsp; 285000 | &nbsp;&nbsp;&nbsp;&nbsp; 286716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.22%, 04/23/2031 | &nbsp;&nbsp; 625000 | &nbsp;&nbsp;&nbsp;&nbsp; 639083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.33%, 07/23/2035 | &nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 262656 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.01%, 09/22/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 189504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.24%, 05/13/2031 | &nbsp;&nbsp; 785000 | &nbsp;&nbsp;&nbsp;&nbsp; 799367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.29%, 11/19/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204195 |
| &nbsp;&nbsp;&nbsp;ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.73%, 04/01/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196095 |
| &nbsp;&nbsp;&nbsp;Intesa Sanpaolo SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.20%, 11/28/2033\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 224974 |
| &nbsp;&nbsp;&nbsp;KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.79%, 06/01/2033 | &nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp; 303709 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.59%, 05/04/2027 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 136842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.48%, 09/16/2036 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 42619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 10/18/2030 | &nbsp;&nbsp; 490000 | &nbsp;&nbsp;&nbsp;&nbsp; 490979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.04%, 07/19/2030 | &nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp; 193275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.17%, 01/16/2030 | &nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 224423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.23%, 01/15/2031 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 174143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.32%, 07/19/2035 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 70881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.42%, 07/21/2034 | &nbsp;&nbsp; 56000 | &nbsp;&nbsp;&nbsp;&nbsp; 57350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 07/20/2029 | &nbsp;&nbsp; 335000 | &nbsp;&nbsp;&nbsp;&nbsp; 343861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.66%, 04/17/2036 | &nbsp;&nbsp; 77000 | &nbsp;&nbsp;&nbsp;&nbsp; 79416 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 05/26/2028 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 254479 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Private Bank, N.A. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.73%, 07/18/2031 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 301352 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.81%, 10/21/2032 | &nbsp;&nbsp; 360000 | &nbsp;&nbsp;&nbsp;&nbsp; 359731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.68%, 01/22/2035 | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 46690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 10/20/2034 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 134045 |
| &nbsp;&nbsp;&nbsp;Santander UK Group Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.53%, 08/21/2026 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.53%, 01/10/2029 | &nbsp;&nbsp; 410000 | &nbsp;&nbsp;&nbsp;&nbsp; 426896 |
| &nbsp;&nbsp;&nbsp;Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.49%, 12/14/2026\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.79%, 06/09/2027\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 389816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 01/19/2028\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 388496 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10%, 04/13/2033\* | $200000 | &nbsp;&nbsp;$208435 |
| &nbsp;&nbsp;&nbsp;Standard Chartered PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 02/08/2028\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205830 |
| &nbsp;&nbsp;&nbsp;Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.27%, 03/02/2027 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 244798 |
| &nbsp;&nbsp;&nbsp;UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.31%, 02/02/2027\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 245834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.43%, 02/08/2030\* | &nbsp;&nbsp; 215000 | &nbsp;&nbsp;&nbsp;&nbsp; 220428 |
| &nbsp;&nbsp;&nbsp;US Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 02/12/2031 | &nbsp;&nbsp; 395000 | &nbsp;&nbsp;&nbsp;&nbsp; 401260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 01/23/2030 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 112988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.68%, 01/23/2035 | &nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 67357 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.97%, 04/23/2029 | &nbsp;&nbsp; 530000 | &nbsp;&nbsp;&nbsp;&nbsp; 536219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 04/23/2031 | &nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp; 316335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.21%, 12/03/2035 | &nbsp;&nbsp; 264000 | &nbsp;&nbsp;&nbsp;&nbsp; 264716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.24%, 01/24/2031 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp; 276430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.56%, 07/25/2034 | &nbsp;&nbsp; 294000 | &nbsp;&nbsp;&nbsp;&nbsp; 303383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.57%, 07/25/2029 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 514843 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;22139162 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 02/01/2036 | &nbsp;&nbsp; 360000 | &nbsp;&nbsp;&nbsp;&nbsp; 349077 |
| **Biotechnology — 0.2%** | **Biotechnology — 0.2%** | **Biotechnology — 0.2%** |
| &nbsp;&nbsp;&nbsp;Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 03/02/2033 | &nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 214207 |
| &nbsp;&nbsp;&nbsp;Biogen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 05/01/2030 | &nbsp;&nbsp; 880000 | &nbsp;&nbsp;&nbsp;&nbsp; 789474 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003681 |
| **Building Materials — 0.2%** | **Building Materials — 0.2%** | **Building Materials — 0.2%** |
| &nbsp;&nbsp;&nbsp;Builders FirstSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 02/01/2032\* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp;&nbsp;&nbsp; 170736 |
| &nbsp;&nbsp;&nbsp;EMRLD Borrower LP/Emerald Co.-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 12/15/2030\* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 147843 |
| &nbsp;&nbsp;&nbsp;Griffon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 03/01/2028 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 74671 |
| &nbsp;&nbsp;&nbsp;Knife River Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 05/01/2031\* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp;&nbsp;&nbsp; 110173 |
| &nbsp;&nbsp;&nbsp;Masterbrand, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 07/15/2032\* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 132111 |
| &nbsp;&nbsp;&nbsp;Quikrete Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 03/01/2032\* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51280 |
| &nbsp;&nbsp;&nbsp;Standard Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 01/15/2028\* | &nbsp;&nbsp; 158000 | &nbsp;&nbsp;&nbsp;&nbsp; 155829 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842643 |
| **Chemicals — 0.1%** | **Chemicals — 0.1%** | **Chemicals — 0.1%** |
| &nbsp;&nbsp;&nbsp;Chemours Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 11/15/2028\* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 73474 |
| &nbsp;&nbsp;&nbsp;Chevron Phillips Chemical Co. LLC/Chevron Phillips Chemical Co. LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 12/01/2026\* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 64091 |
| &nbsp;&nbsp;&nbsp;Element Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 09/01/2028\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96335 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233900 |
| **Commercial Services — 0.2%** | **Commercial Services — 0.2%** | **Commercial Services — 0.2%** |
| &nbsp;&nbsp;&nbsp;Avis Budget Car Rental LLC/Avis Budget Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 03/01/2029\* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 52657 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| &nbsp;&nbsp;&nbsp;Block, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 06/01/2031 | $55000 | &nbsp;&nbsp;$50405 |
| &nbsp;&nbsp;&nbsp;Boost Newco Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 01/15/2031\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 211462 |
| &nbsp;&nbsp;&nbsp;Brink's Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 06/15/2032\* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 133901 |
| &nbsp;&nbsp;&nbsp;Ford Foundation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.82%, 06/01/2070 | &nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 35704 |
| &nbsp;&nbsp;&nbsp;Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 08/15/2029 | &nbsp;&nbsp; 31000 | &nbsp;&nbsp;&nbsp;&nbsp; 29146 |
| &nbsp;&nbsp;&nbsp;Herc Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 07/15/2027\* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 89638 |
| &nbsp;&nbsp;&nbsp;Prime Security Services Borrower LLC/Prime Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 04/15/2026\* | &nbsp;&nbsp; 42000 | &nbsp;&nbsp;&nbsp;&nbsp; 42173 |
| &nbsp;&nbsp;&nbsp;Service Corp. International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 06/01/2029 | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 39636 |
| &nbsp;&nbsp;&nbsp;Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 08/15/2032\* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 41320 |
| &nbsp;&nbsp;&nbsp;United Rentals North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 01/15/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99384 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825426 |
| **Computers — 0.1%** | **Computers — 0.1%** | **Computers — 0.1%** |
| &nbsp;&nbsp;&nbsp;Accenture Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 10/04/2034 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 67740 |
| &nbsp;&nbsp;&nbsp;Leidos, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 02/15/2031 | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 35025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 03/15/2032 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 178386 |
| &nbsp;&nbsp;&nbsp;NCR Voyix Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/01/2028\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 147548 |
| &nbsp;&nbsp;&nbsp;Seagate Data Storage Technology Pte, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.63%, 12/01/2032\* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 84467 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513166 |
| **Cosmetics/Personal Care — 0.0%** | **Cosmetics/Personal Care — 0.0%** | **Cosmetics/Personal Care — 0.0%** |
| &nbsp;&nbsp;&nbsp;Edgewell Personal Care Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 06/01/2028\* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 124060 |
| **Diversified Financial Services — 0.3%** | **Diversified Financial Services — 0.3%** | **Diversified Financial Services — 0.3%** |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC/AerCap Global Aviation Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/29/2028 | &nbsp;&nbsp; 184000 | &nbsp;&nbsp;&nbsp;&nbsp; 175110 |
| &nbsp;&nbsp;&nbsp;American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92%, 07/20/2033 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.09%, 01/30/2031 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 173616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.67%, 04/25/2036 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51876 |
| &nbsp;&nbsp;&nbsp;Avolon Holdings Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 01/15/2030\* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 11/15/2029\* | &nbsp;&nbsp; 560000 | &nbsp;&nbsp;&nbsp;&nbsp; 576483 |
| &nbsp;&nbsp;&nbsp;OneMain Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 01/15/2028 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 112637 |
| &nbsp;&nbsp;&nbsp;Rocket Mtg. LLC/Rocket Mtg. Co.-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 03/01/2029\* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 127526 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1317788 |
| **Electric — 1.5%** | **Electric — 1.5%** | **Electric — 1.5%** |
| &nbsp;&nbsp;&nbsp;AES Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38%, 01/15/2026 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 147630 |
| &nbsp;&nbsp;&nbsp;Ameren Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 01/15/2031 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 132144 |
| &nbsp;&nbsp;&nbsp;Baltimore Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 09/15/2049 | &nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 53873 |
| &nbsp;&nbsp;&nbsp;Cleveland Electric Illuminating Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 04/01/2028\* | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 9678 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 06/01/2055 | $32000 | &nbsp;&nbsp;$33164 |
| &nbsp;&nbsp;&nbsp;Constellation Energy Generation LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 06/15/2042 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 9813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 10/01/2039 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 148838 |
| &nbsp;&nbsp;&nbsp;Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 10/01/2025 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99871 |
| &nbsp;&nbsp;&nbsp;Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 06/15/2054 | &nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 78186 |
| &nbsp;&nbsp;&nbsp;Duke Energy Florida LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 06/15/2030 | &nbsp;&nbsp; 380000 | &nbsp;&nbsp;&nbsp;&nbsp; 334687 |
| &nbsp;&nbsp;&nbsp;Duke Energy Indiana LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 04/01/2053 | &nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 14245 |
| &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 03/15/2035 | &nbsp;&nbsp; 66000 | &nbsp;&nbsp;&nbsp;&nbsp; 66086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 03/15/2055 | &nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp; 4888 |
| &nbsp;&nbsp;&nbsp;Edison International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 06/15/2029 | &nbsp;&nbsp; 215000 | &nbsp;&nbsp;&nbsp;&nbsp; 213632 |
| &nbsp;&nbsp;&nbsp;Emera US Finance LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.64%, 06/15/2031 | &nbsp;&nbsp; 510000 | &nbsp;&nbsp;&nbsp;&nbsp; 446820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 06/15/2046 | &nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 70188 |
| &nbsp;&nbsp;&nbsp;Entergy Arkansas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 06/01/2054 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 124491 |
| &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 01/15/2045 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 106821 |
| &nbsp;&nbsp;&nbsp;Entergy Mississippi LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 06/01/2051 | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 20807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 04/15/2055 | &nbsp;&nbsp; 17000 | &nbsp;&nbsp;&nbsp;&nbsp; 16983 |
| &nbsp;&nbsp;&nbsp;FirstEnergy Transmission LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.87%, 09/15/2028\* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp;&nbsp;&nbsp; 176091 |
| &nbsp;&nbsp;&nbsp;Florida Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 03/15/2055 | &nbsp;&nbsp; 137000 | &nbsp;&nbsp;&nbsp;&nbsp; 138277 |
| &nbsp;&nbsp;&nbsp;Fortis, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.06%, 10/04/2026 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 147089 |
| &nbsp;&nbsp;&nbsp;ITC Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 05/14/2030\* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 129585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 05/09/2034\* | &nbsp;&nbsp; 285000 | &nbsp;&nbsp;&nbsp;&nbsp; 292837 |
| &nbsp;&nbsp;&nbsp;Jersey Central Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 03/01/2032\* | &nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp;&nbsp; 254272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 01/15/2026\* | &nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 34908 |
| &nbsp;&nbsp;&nbsp;MidAmerican Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 05/01/2046 | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 37223 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.69%, 09/01/2027 | &nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp;&nbsp; 291423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 03/15/2035 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 356084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 08/15/2055 | &nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 35909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 08/15/2055 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 25802 |
| &nbsp;&nbsp;&nbsp;NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 02/15/2031\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 137311 |
| &nbsp;&nbsp;&nbsp;Ohio Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 10/01/2051 | &nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 39370 |
| &nbsp;&nbsp;&nbsp;Pacific Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 12/01/2046 | &nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 97827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 06/15/2043 | &nbsp;&nbsp; 72000 | &nbsp;&nbsp;&nbsp;&nbsp; 57941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 05/15/2029 | &nbsp;&nbsp; 285000 | &nbsp;&nbsp;&nbsp;&nbsp; 290493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 05/15/2034 | &nbsp;&nbsp; 315000 | &nbsp;&nbsp;&nbsp;&nbsp; 319664 |
| &nbsp;&nbsp;&nbsp;Public Service Co. of Oklahoma |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20%, 08/15/2031 | &nbsp;&nbsp; 395000 | &nbsp;&nbsp;&nbsp;&nbsp; 342081 |
| &nbsp;&nbsp;&nbsp;Puget Sound Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.69%, 06/15/2054 | &nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 34424 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 02/01/2045 | &nbsp;&nbsp; 156000 | &nbsp;&nbsp;&nbsp;&nbsp; 108689 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 03/01/2048 | $70000 | &nbsp;&nbsp;$52331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 03/01/2035 | &nbsp;&nbsp; 455000 | &nbsp;&nbsp;&nbsp;&nbsp; 453212 |
| &nbsp;&nbsp;&nbsp;Union Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 01/15/2054 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 111147 |
| &nbsp;&nbsp;&nbsp;Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 01/30/2027\* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 64095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 02/15/2027\* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 44948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 12/30/2034\* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 55991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 04/15/2034\* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 88222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 10/15/2031\* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 52920 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6403011 |
| **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp;Energizer Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 06/15/2028\* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 58288 |
| &nbsp;&nbsp;&nbsp;WESCO Distribution, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 03/15/2032\* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 118658 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176946 |
| **Electronics — 0.0%** | **Electronics — 0.0%** | **Electronics — 0.0%** |
| &nbsp;&nbsp;&nbsp;Coherent Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 12/15/2029\* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 48935 |
| &nbsp;&nbsp;&nbsp;Imola Merger Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 05/15/2029\* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 58214 |
| &nbsp;&nbsp;&nbsp;Sensata Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 02/15/2030\* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 76552 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183701 |
| **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** |
| &nbsp;&nbsp;&nbsp;Dycom Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 04/15/2029\* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 77543 |
| &nbsp;&nbsp;&nbsp;Weekley Homes LLC/Weekley Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 09/15/2028\* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 125092 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202635 |
| **Entertainment — 0.1%** | **Entertainment — 0.1%** | **Entertainment — 0.1%** |
| &nbsp;&nbsp;&nbsp;Boyne USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 05/15/2029\* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 135668 |
| &nbsp;&nbsp;&nbsp;Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 02/15/2032\* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50991 |
| &nbsp;&nbsp;&nbsp;Live Nation Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 10/15/2027\* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 137836 |
| &nbsp;&nbsp;&nbsp;Six Flags Entertainment Corp./Six Flags Theme Parks, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 05/01/2032\* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 61098 |
| &nbsp;&nbsp;&nbsp;Wynn Resorts Finance LLC/Wynn Resorts Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 10/01/2029\* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 124036 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509629 |
| **Environmental Control — 0.1%** | **Environmental Control — 0.1%** | **Environmental Control — 0.1%** |
| &nbsp;&nbsp;&nbsp;GFL Environmental, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 08/01/2028\* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 87228 |
| &nbsp;&nbsp;&nbsp;Madison IAQ LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 06/30/2028\* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp; 154830 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242058 |
| **Food — 0.2%** | **Food — 0.2%** | **Food — 0.2%** |
| &nbsp;&nbsp;&nbsp;JBS USA Holding LUX SARL/JBS USA Food Co./JBS LUX Co. SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 03/15/2034 | &nbsp;&nbsp; 49000 | &nbsp;&nbsp;&nbsp;&nbsp; 53337 |
| &nbsp;&nbsp;&nbsp;Lamb Weston Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 01/31/2030\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 95132 |
| &nbsp;&nbsp;&nbsp;Mars, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 03/01/2030\* | &nbsp;&nbsp; 215000 | &nbsp;&nbsp;&nbsp;&nbsp; 217135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 03/01/2035\* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 120574 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Food (continued)** | **Food (continued)** | **Food (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 05/01/2045\* | $27000 | &nbsp;&nbsp;$26814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 05/01/2055\* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 113476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 05/01/2065\* | &nbsp;&nbsp; 74000 | &nbsp;&nbsp;&nbsp;&nbsp; 73279 |
| &nbsp;&nbsp;&nbsp;Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 02/15/2032\* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 132428 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;832175 |
| **Gas — 0.1%** | **Gas — 0.1%** | **Gas — 0.1%** |
| &nbsp;&nbsp;&nbsp;Brooklyn Union Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.27%, 03/15/2048\* | &nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 50489 |
| &nbsp;&nbsp;&nbsp;Southern Co. Gas Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 09/30/2051 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 108325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40%, 06/01/2043 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 108824 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267638 |
| **Healthcare-Products — 0.3%** | **Healthcare-Products — 0.3%** | **Healthcare-Products — 0.3%** |
| &nbsp;&nbsp;&nbsp;Baxter International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.27%, 12/01/2028 | &nbsp;&nbsp; 305000 | &nbsp;&nbsp;&nbsp;&nbsp; 283740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.54%, 02/01/2032 | &nbsp;&nbsp; 521000 | &nbsp;&nbsp;&nbsp;&nbsp; 452824 |
| &nbsp;&nbsp;&nbsp;Hologic, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 02/15/2029\* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 137309 |
| &nbsp;&nbsp;&nbsp;Medline Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 04/01/2029\* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 109673 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 09/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 02/19/2035 | &nbsp;&nbsp; 196000 | &nbsp;&nbsp;&nbsp;&nbsp; 200634 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1384951 |
| **Healthcare-Services — 0.4%** | **Healthcare-Services — 0.4%** | **Healthcare-Services — 0.4%** |
| &nbsp;&nbsp;&nbsp;Acadia Healthcare Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 07/01/2028\* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49362 |
| &nbsp;&nbsp;&nbsp;Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 12/15/2029 | &nbsp;&nbsp; 124000 | &nbsp;&nbsp;&nbsp;&nbsp; 117910 |
| &nbsp;&nbsp;&nbsp;Charles River Laboratories International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 03/15/2029\* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 108331 |
| &nbsp;&nbsp;&nbsp;DaVita, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 02/15/2031\* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 54412 |
| &nbsp;&nbsp;&nbsp;Encompass Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 04/01/2031 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 47754 |
| &nbsp;&nbsp;&nbsp;HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 09/01/2030 | &nbsp;&nbsp; 685000 | &nbsp;&nbsp;&nbsp;&nbsp; 645731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 06/01/2028 | &nbsp;&nbsp; 335000 | &nbsp;&nbsp;&nbsp;&nbsp; 340703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 06/15/2047 | &nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 78654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 09/15/2054 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 57877 |
| &nbsp;&nbsp;&nbsp;IQVIA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 06/01/2032\* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 56400 |
| &nbsp;&nbsp;&nbsp;Molina Healthcare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 11/15/2030\* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 45149 |
| &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 11/01/2027 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 05/15/2031 | &nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 15434 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 08/15/2039 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 239762 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1907277 |
| **Home Furnishings — 0.0%** | **Home Furnishings — 0.0%** | **Home Furnishings — 0.0%** |
| &nbsp;&nbsp;&nbsp;Somnigroup International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 04/15/2029\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 94971 |
| **Household Products/Wares — 0.1%** | **Household Products/Wares — 0.1%** | **Household Products/Wares — 0.1%** |
| &nbsp;&nbsp;&nbsp;ACCO Brands Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 03/15/2029\* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 106331 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Household Products/Wares (continued)** | **Household Products/Wares (continued)** | **Household Products/Wares (continued)** |
| &nbsp;&nbsp;&nbsp;Central Garden & Pet Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 02/01/2028 | $145000 | &nbsp;&nbsp;$144375 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250706 |
| **Housewares — 0.1%** | **Housewares — 0.1%** | **Housewares — 0.1%** |
| &nbsp;&nbsp;&nbsp;Newell Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 09/15/2029 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 144357 |
| &nbsp;&nbsp;&nbsp;Scotts Miracle-Gro Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 10/15/2029 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp; 153309 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297666 |
| **Internet — 0.2%** | **Internet — 0.2%** | **Internet — 0.2%** |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 08/22/2047 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp; 222261 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 08/15/2052 | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 16817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 08/15/2054 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 140116 |
| &nbsp;&nbsp;&nbsp;Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 01/15/2030 | &nbsp;&nbsp; 560000 | &nbsp;&nbsp;&nbsp;&nbsp; 555144 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934338 |
| **Iron/Steel — 0.0%** | **Iron/Steel — 0.0%** | **Iron/Steel — 0.0%** |
| &nbsp;&nbsp;&nbsp;Cleveland-Cliffs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 03/01/2029\* | &nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 80112 |
| **Leisure Time — 0.1%** | **Leisure Time — 0.1%** | **Leisure Time — 0.1%** |
| &nbsp;&nbsp;&nbsp;Amer Sports Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 02/16/2031\* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 135188 |
| &nbsp;&nbsp;&nbsp;Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 08/01/2028\* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 116550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 05/01/2029\* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 40355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 02/15/2033\* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 61064 |
| &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 02/01/2033\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101650 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454807 |
| **Lodging — 0.1%** | **Lodging — 0.1%** | **Lodging — 0.1%** |
| &nbsp;&nbsp;&nbsp;Hilton Domestic Operating Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 03/15/2033\* | &nbsp;&nbsp; 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 95713 |
| &nbsp;&nbsp;&nbsp;Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 04/01/2027 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 169823 |
| &nbsp;&nbsp;&nbsp;MGM Resorts International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 04/15/2027 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 115402 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380938 |
| **Machinery-Diversified — 0.1%** | **Machinery-Diversified — 0.1%** | **Machinery-Diversified — 0.1%** |
| &nbsp;&nbsp;&nbsp;Chart Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 01/01/2030\* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 141417 |
| &nbsp;&nbsp;&nbsp;Esab Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 04/15/2029\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 102176 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243593 |
| **Media — 0.8%** | **Media — 0.8%** | **Media — 0.8%** |
| &nbsp;&nbsp;&nbsp;CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 08/15/2030\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 233905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/01/2028\* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 05/01/2027\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 148772 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC/Charter Communications Operating Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 01/15/2029 | &nbsp;&nbsp; 465000 | &nbsp;&nbsp;&nbsp;&nbsp; 427344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 04/01/2031 | &nbsp;&nbsp; 380000 | &nbsp;&nbsp;&nbsp;&nbsp; 336645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 06/01/2041 | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 28498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 05/01/2047 | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 33919 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| &nbsp;&nbsp;&nbsp;Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.95%, 01/15/2031 | $155000 | &nbsp;&nbsp;$135333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 08/15/2052 | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 16153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 01/15/2051 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 41504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.94%, 11/01/2056 | &nbsp;&nbsp; 536000 | &nbsp;&nbsp;&nbsp;&nbsp; 309656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 05/15/2035 | &nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 222664 |
| &nbsp;&nbsp;&nbsp;DISH DBS Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 07/01/2026 | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 35550 |
| &nbsp;&nbsp;&nbsp;DISH Network Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.75%, 11/15/2027\* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 15622 |
| &nbsp;&nbsp;&nbsp;Gray Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 08/15/2033\* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 39790 |
| &nbsp;&nbsp;&nbsp;iHeartCommunications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 08/15/2030\* | &nbsp;&nbsp; 120150 | &nbsp;&nbsp;&nbsp;&nbsp; 93548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.13%, 05/01/2029\* | &nbsp;&nbsp; 71250 | &nbsp;&nbsp;&nbsp;&nbsp; 59432 |
| &nbsp;&nbsp;&nbsp;News Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 05/15/2029\* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 114575 |
| &nbsp;&nbsp;&nbsp;Nexstar Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 07/15/2027\* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 114777 |
| &nbsp;&nbsp;&nbsp;Scripps Escrow II, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 01/15/2029\* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 150922 |
| &nbsp;&nbsp;&nbsp;Sirius XM Radio, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 07/15/2028\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 237947 |
| &nbsp;&nbsp;&nbsp;Time Warner Cable LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 09/15/2042 | &nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 51016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 09/01/2041 | &nbsp;&nbsp; 370000 | &nbsp;&nbsp;&nbsp;&nbsp; 332381 |
| &nbsp;&nbsp;&nbsp;Univision Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 05/01/2029\* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 111033 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3340050 |
| **Mining — 0.2%** | **Mining — 0.2%** | **Mining — 0.2%** |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 03/15/2043 | &nbsp;&nbsp; 165000 | &nbsp;&nbsp;&nbsp;&nbsp; 155468 |
| &nbsp;&nbsp;&nbsp;Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 09/23/2031\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 219990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 10/06/2030\* | &nbsp;&nbsp; 342000 | &nbsp;&nbsp;&nbsp;&nbsp; 365543 |
| &nbsp;&nbsp;&nbsp;Kaiser Aluminum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 03/01/2028\* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 73312 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814313 |
| **Miscellaneous Manufactur — 0.0%** | **Miscellaneous Manufactur — 0.0%** | **Miscellaneous Manufactur — 0.0%** |
| &nbsp;&nbsp;&nbsp;Hillenbrand, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 03/01/2031 | &nbsp;&nbsp; 165000 | &nbsp;&nbsp;&nbsp;&nbsp; 147981 |
| **Oil & Gas — 0.3%** | **Oil & Gas — 0.3%** | **Oil & Gas — 0.3%** |
| &nbsp;&nbsp;&nbsp;Baytex Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 04/30/2030\* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 111941 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 09/01/2025(2) | &nbsp;&nbsp; 66000 | &nbsp;&nbsp;&nbsp;&nbsp; 65904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 03/22/2030(2) | &nbsp;&nbsp; 58000 | &nbsp;&nbsp;&nbsp;&nbsp; 57055 |
| &nbsp;&nbsp;&nbsp;Civitas Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.63%, 11/01/2030\* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 137732 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 03/15/2054 | &nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 80826 |
| &nbsp;&nbsp;&nbsp;Coterra Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 02/15/2035 | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 236563 |
| &nbsp;&nbsp;&nbsp;EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 01/15/2029\* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 123498 |
| &nbsp;&nbsp;&nbsp;Hess Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 02/15/2041 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202426 |
| &nbsp;&nbsp;&nbsp;Permian Resources Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 07/01/2029\* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 60037 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| &nbsp;&nbsp;&nbsp;Petroleos Mexicanos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 03/13/2027 | $129000 | &nbsp;&nbsp;$129051 |
| &nbsp;&nbsp;&nbsp;Pioneer Natural Resources Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15%, 01/15/2031 | &nbsp;&nbsp; 295000 | &nbsp;&nbsp;&nbsp;&nbsp; 261048 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1466081 |
| **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** |
| &nbsp;&nbsp;&nbsp;Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 08/15/2026\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197500 |
| **Pharmaceuticals — 0.2%** | **Pharmaceuticals — 0.2%** | **Pharmaceuticals — 0.2%** |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 11/21/2039 | &nbsp;&nbsp; 470000 | &nbsp;&nbsp;&nbsp;&nbsp; 409996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 11/21/2049 | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 32627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 03/15/2034 | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 20252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 03/15/2055 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99293 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 03/15/2062 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 78110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 02/22/2034 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 142995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 02/22/2054 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 02/22/2064 | &nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 77274 |
| &nbsp;&nbsp;&nbsp;CVS Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.51%, 01/10/2032\* | &nbsp;&nbsp; 36775 | &nbsp;&nbsp;&nbsp;&nbsp; 39011 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;996284 |
| **Pipelines — 0.8%** | **Pipelines — 0.8%** | **Pipelines — 0.8%** |
| &nbsp;&nbsp;&nbsp;Buckeye Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 12/01/2026 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp; 157308 |
| &nbsp;&nbsp;&nbsp;Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 01/31/2032 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp; 242713 |
| &nbsp;&nbsp;&nbsp;Columbia Pipelines Operating Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.93%, 08/15/2030\* | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 47359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.04%, 11/15/2033\* | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 578138 |
| &nbsp;&nbsp;&nbsp;DT Midstream, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 06/15/2029\* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 134828 |
| &nbsp;&nbsp;&nbsp;Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 02/01/2043 | &nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 48396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 04/01/2044 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 125373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 09/01/2034 | &nbsp;&nbsp; 510000 | &nbsp;&nbsp;&nbsp;&nbsp; 515753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 05/01/2027\* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 225064 |
| &nbsp;&nbsp;&nbsp;Hess Midstream Operations LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 10/15/2030\* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 75326 |
| &nbsp;&nbsp;&nbsp;Kinetik Holdings LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 06/15/2030\* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 115093 |
| &nbsp;&nbsp;&nbsp;MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 06/01/2034 | &nbsp;&nbsp; 755000 | &nbsp;&nbsp;&nbsp;&nbsp; 755776 |
| &nbsp;&nbsp;&nbsp;Northern Natural Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 10/16/2051\* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 46092 |
| &nbsp;&nbsp;&nbsp;NuStar Logistics LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 04/28/2027 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 70355 |
| &nbsp;&nbsp;&nbsp;ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 01/15/2028\* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 91715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 09/01/2030\* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp;&nbsp;&nbsp; 112032 |
| &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 06/30/2026 | &nbsp;&nbsp; 71000 | &nbsp;&nbsp;&nbsp;&nbsp; 71339 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3412660 |
| **REITS — 0.3%** | **REITS — 0.3%** | **REITS — 0.3%** |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 04/15/2026 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 248496 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10%, 06/15/2030 | &nbsp;&nbsp; 385000 | &nbsp;&nbsp;&nbsp;&nbsp; 341676 |
| &nbsp;&nbsp;&nbsp;Iron Mountain, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 07/15/2030\* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 127755 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **REITS (continued)** | **REITS (continued)** | **REITS (continued)** |
| &nbsp;&nbsp;&nbsp;NNN REIT, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 04/15/2051 | $55000 | &nbsp;&nbsp;$37547 |
| &nbsp;&nbsp;&nbsp;RHP Hotel Properties LP/RHP Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 10/15/2027 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 113762 |
| &nbsp;&nbsp;&nbsp;UDR, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10%, 06/15/2033 | &nbsp;&nbsp; 305000 | &nbsp;&nbsp;&nbsp;&nbsp; 246474 |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 01/15/2030 | &nbsp;&nbsp; 295000 | &nbsp;&nbsp;&nbsp;&nbsp; 275913 |
| &nbsp;&nbsp;&nbsp;VICI Properties LP/VICI Note Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 02/01/2027\* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 40426 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1432049 |
| **Retail — 0.1%** | **Retail — 0.1%** | **Retail — 0.1%** |
| &nbsp;&nbsp;&nbsp;Asbury Automotive Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 03/01/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98337 |
| &nbsp;&nbsp;&nbsp;Bath & Body Works, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 11/01/2035 | &nbsp;&nbsp; 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 97753 |
| &nbsp;&nbsp;&nbsp;Group 1 Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 08/15/2028\* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 110880 |
| &nbsp;&nbsp;&nbsp;Lithia Motors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 12/15/2027\* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 123061 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430031 |
| **Semiconductors — 0.3%** | **Semiconductors — 0.3%** | **Semiconductors — 0.3%** |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.14%, 11/15/2035\* | &nbsp;&nbsp; 382000 | &nbsp;&nbsp;&nbsp;&nbsp; 320640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.47%, 04/15/2034\* | &nbsp;&nbsp; 189000 | &nbsp;&nbsp;&nbsp;&nbsp; 167980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 02/15/2032 | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 39467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 07/15/2035 | &nbsp;&nbsp; 21000 | &nbsp;&nbsp;&nbsp;&nbsp; 21099 |
| &nbsp;&nbsp;&nbsp;Entegris, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 05/01/2029\* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp; 150116 |
| &nbsp;&nbsp;&nbsp;Marvell Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 04/15/2031 | &nbsp;&nbsp; 360000 | &nbsp;&nbsp;&nbsp;&nbsp; 326497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 07/15/2035 | &nbsp;&nbsp; 52000 | &nbsp;&nbsp;&nbsp;&nbsp; 52451 |
| &nbsp;&nbsp;&nbsp;ON Semiconductor Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 09/01/2028\* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 57981 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1136231 |
| **Software — 0.1%** | **Software — 0.1%** | **Software — 0.1%** |
| &nbsp;&nbsp;&nbsp;Elastic NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 07/15/2029\* | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 109374 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 04/01/2040 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 90766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 09/27/2054 | &nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 234186 |
| &nbsp;&nbsp;&nbsp;SS&C Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 09/30/2027\* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 60013 |
| &nbsp;&nbsp;&nbsp;Synopsys, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 04/01/2035 | &nbsp;&nbsp; 46000 | &nbsp;&nbsp;&nbsp;&nbsp; 46163 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 06/12/2029 | &nbsp;&nbsp; 8000 | &nbsp;&nbsp;&nbsp;&nbsp; 8225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 06/12/2034 | &nbsp;&nbsp; 32000 | &nbsp;&nbsp;&nbsp;&nbsp; 33009 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581736 |
| **Telecommunications — 0.8%** | **Telecommunications — 0.8%** | **Telecommunications — 0.8%** |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 06/01/2031 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 271204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 09/15/2055 | &nbsp;&nbsp; 283000 | &nbsp;&nbsp;&nbsp;&nbsp; 189741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.05%, 08/15/2056 | &nbsp;&nbsp; 235000 | &nbsp;&nbsp;&nbsp;&nbsp; 238226 |
| &nbsp;&nbsp;&nbsp;CommScope LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.50%, 12/15/2031\* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 42123 |
| &nbsp;&nbsp;&nbsp;Crown Castle Towers LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.24%, 07/15/2048\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 245330 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| &nbsp;&nbsp;&nbsp;GCI LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 10/15/2028\* | $35000 | &nbsp;&nbsp;$33783 |
| &nbsp;&nbsp;&nbsp;Hughes Satellite Systems Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 08/01/2026 | &nbsp;&nbsp; 155000 | &nbsp;&nbsp;&nbsp;&nbsp; 117254 |
| &nbsp;&nbsp;&nbsp;Lumen Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 04/15/2029\* | &nbsp;&nbsp; 90985 | &nbsp;&nbsp;&nbsp;&nbsp; 88611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 04/15/2030\* | &nbsp;&nbsp; 90994 | &nbsp;&nbsp;&nbsp;&nbsp; 88630 |
| &nbsp;&nbsp;&nbsp;Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 03/15/2032 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 116492 |
| &nbsp;&nbsp;&nbsp;Sprint Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 03/15/2032 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 90592 |
| &nbsp;&nbsp;&nbsp;Sprint LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.63%, 03/01/2026 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 70529 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 04/15/2029 | &nbsp;&nbsp; 830000 | &nbsp;&nbsp;&nbsp;&nbsp; 796869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 05/15/2032 | &nbsp;&nbsp; 358000 | &nbsp;&nbsp;&nbsp;&nbsp; 363203 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.36%, 03/15/2032 | &nbsp;&nbsp; 715000 | &nbsp;&nbsp;&nbsp;&nbsp; 614694 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3367281 |
| **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** |
| &nbsp;&nbsp;&nbsp;Avolon Holdings Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 10/10/2030\* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 74722 |
| **Water — 0.0%** | **Water — 0.0%** | **Water — 0.0%** |
| &nbsp;&nbsp;&nbsp;American Water Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 03/01/2054 | &nbsp;&nbsp; 139000 | &nbsp;&nbsp;&nbsp;&nbsp; 133945 |
| **Total Corporate Bonds & Notes<br> (cost $66,665,570)** |  | &nbsp;&nbsp;&nbsp;&nbsp;66049633 |
| **ASSET BACKED SECURITIES — 5.5%** | **ASSET BACKED SECURITIES — 5.5%** | **ASSET BACKED SECURITIES — 5.5%** |
| **Auto Loan Receivables — 1.8%** | **Auto Loan Receivables — 1.8%** | **Auto Loan Receivables — 1.8%** |
| &nbsp;&nbsp;&nbsp;AmeriCredit Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class A3<br> 5.43%, 01/18/2029 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 251928 |
| &nbsp;&nbsp;&nbsp;Avis Budget Rental Car Funding AESOP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-3A, Class A<br> 5.23%, 12/20/2030\* | &nbsp;&nbsp; 232000 | &nbsp;&nbsp;&nbsp;&nbsp; 236568 |
| &nbsp;&nbsp;&nbsp;Bridgecrest Lending Auto Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1, Class C<br> 5.15%, 12/17/2029 | &nbsp;&nbsp; 410000 | &nbsp;&nbsp;&nbsp;&nbsp; 410876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-3, Class C<br> 5.70%, 07/16/2029 | &nbsp;&nbsp; 438000 | &nbsp;&nbsp;&nbsp;&nbsp; 442265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class D<br> 6.03%, 11/15/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 304320 |
| &nbsp;&nbsp;&nbsp;Consumer Portfolio Services Auto Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-B, Class C<br> 5.12%, 07/15/2031\* | &nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 220663 |
| &nbsp;&nbsp;&nbsp;Credit Acceptance Auto Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-3A, Class C<br> 5.39%, 01/16/2035\* | &nbsp;&nbsp; 404000 | &nbsp;&nbsp;&nbsp;&nbsp; 406641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1A, Class C<br> 5.71%, 07/16/2035\* | &nbsp;&nbsp; 543000 | &nbsp;&nbsp;&nbsp;&nbsp; 551653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2A, Class C<br> 6.70%, 10/16/2034\* | &nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp; 253236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class C<br> 6.71%, 07/17/2034\* | &nbsp;&nbsp; 632000 | &nbsp;&nbsp;&nbsp;&nbsp; 648812 |
| &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1, Class C<br> 4.99%, 09/15/2032 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 145317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class C<br> 5.43%, 11/17/2031 | &nbsp;&nbsp; 280000 | &nbsp;&nbsp;&nbsp;&nbsp; 282679 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |
| **Auto Loan Receivables (continued)** | **Auto Loan Receivables (continued)** | **Auto Loan Receivables (continued)** |
| &nbsp;&nbsp;&nbsp;DT Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-3A, Class D<br> 1.31%, 05/17/2027\* | $322510 | &nbsp;&nbsp;$318516 |
| &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2, Class A3<br> 5.61%, 04/20/2028\* | &nbsp;&nbsp; 134000 | &nbsp;&nbsp;&nbsp;&nbsp; 136064 |
| &nbsp;&nbsp;&nbsp;First Investors Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1A, Class C<br> 6.81%, 12/17/2029\* | &nbsp;&nbsp; 470000 | &nbsp;&nbsp;&nbsp;&nbsp; 484016 |
| &nbsp;&nbsp;&nbsp;GLS Auto Select Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-2A, Class C<br> 7.31%, 01/15/2030\* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 472407 |
| &nbsp;&nbsp;&nbsp;GM Financial Automobile Leasing Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2, Class A3<br> 5.39%, 07/20/2027 | &nbsp;&nbsp; 159000 | &nbsp;&nbsp;&nbsp;&nbsp; 160039 |
| &nbsp;&nbsp;&nbsp;Harley-Davidson Motorcycle Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-A, Class A3<br> 5.37%, 03/15/2029 | &nbsp;&nbsp; 356000 | &nbsp;&nbsp;&nbsp;&nbsp; 359196 |
| &nbsp;&nbsp;&nbsp;Merchants Fleet Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A<br> 5.82%, 04/20/2037\* | &nbsp;&nbsp; 290258 | &nbsp;&nbsp;&nbsp;&nbsp; 292055 |
| &nbsp;&nbsp;&nbsp;OneMain Direct Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1A, Class A<br> 0.87%, 07/14/2028\* | &nbsp;&nbsp; 21881 | &nbsp;&nbsp;&nbsp;&nbsp; 21764 |
| &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-3, Class C<br> 4.68%, 09/15/2031 | &nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 134657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1, Class C<br> 5.04%, 03/17/2031 | &nbsp;&nbsp; 446000 | &nbsp;&nbsp;&nbsp;&nbsp; 449664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-3, Class C<br> 5.64%, 08/15/2030 | &nbsp;&nbsp; 488000 | &nbsp;&nbsp;&nbsp;&nbsp; 496728 |
| &nbsp;&nbsp;&nbsp;SBNA Auto Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-B, Class A3<br> 5.56%, 11/22/2027\* | &nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 170861 |
| &nbsp;&nbsp;&nbsp;Veros Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class B<br> 6.60%, 06/15/2028\* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp; 161989 |
| &nbsp;&nbsp;&nbsp;Westlake Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class C<br> 5.65%, 02/15/2029\* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 131054 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7943968 |
| **Credit Card Receivables — 0.1%** | **Credit Card Receivables — 0.1%** | **Credit Card Receivables — 0.1%** |
| &nbsp;&nbsp;&nbsp;Mercury Financial Credit Card Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2A, Class A<br> 6.56%, 07/20/2029\* | &nbsp;&nbsp; 258000 | &nbsp;&nbsp;&nbsp;&nbsp; 259655 |
| **Home Equity — 0.0%** | **Home Equity — 0.0%** | **Home Equity — 0.0%** |
| &nbsp;&nbsp;&nbsp;Option One Mtg. Loan Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-3, Class M2<br> 5.32%, (TSFR1M+0.97%), 11/25/2034 | &nbsp;&nbsp; 11419 | &nbsp;&nbsp;&nbsp;&nbsp; 11964 |
| &nbsp;&nbsp;&nbsp;Renaissance Home Equity Loan Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-2, Class AV3<br> 5.21%, (TSFR1M+0.85%), 08/25/2035 | &nbsp;&nbsp; 102011 | &nbsp;&nbsp;&nbsp;&nbsp; 90481 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102445 |
| **Other Asset Backed Securities — 3.6%** | **Other Asset Backed Securities — 3.6%** | **Other Asset Backed Securities — 3.6%** |
| &nbsp;&nbsp;&nbsp;AMSR Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-SFR1, Class C<br> 4.29%, 07/17/2041\* | &nbsp;&nbsp; 199000 | &nbsp;&nbsp;&nbsp;&nbsp; 191015 |
| &nbsp;&nbsp;&nbsp;Business Jet Securities LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2, Class A<br> 5.36%, 09/15/2039\* | &nbsp;&nbsp; 608916 | &nbsp;&nbsp;&nbsp;&nbsp; 606732 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;CF Hippolyta Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1A, Class A1<br> 1.53%, 03/15/2061\* | $94245 | &nbsp;&nbsp;$77981 |
| &nbsp;&nbsp;&nbsp;Commonbond Student Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-AGS, Class A1<br> 2.54%, 01/25/2047\* | &nbsp;&nbsp; 19152 | &nbsp;&nbsp;&nbsp;&nbsp; 17449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-CGS, Class A1<br> 3.87%, 02/25/2046\* | &nbsp;&nbsp; 14549 | &nbsp;&nbsp;&nbsp;&nbsp; 14029 |
| &nbsp;&nbsp;&nbsp;Crossroads Asset Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-A, Class A2<br> 4.91%, 02/20/2032\* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp; 160083 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza Master Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-1A, Class A2II<br> 4.47%, 10/25/2045\* | &nbsp;&nbsp; 435925 | &nbsp;&nbsp;&nbsp;&nbsp; 435216 |
| &nbsp;&nbsp;&nbsp;Driven Brands Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-2A, Class A2<br> 3.98%, 10/20/2049\* | &nbsp;&nbsp; 183915 | &nbsp;&nbsp;&nbsp;&nbsp; 180963 |
| &nbsp;&nbsp;&nbsp;FirstKey Homes Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-SFR2, Class A<br> 4.25%, 07/17/2039\* | &nbsp;&nbsp; 944980 | &nbsp;&nbsp;&nbsp;&nbsp; 935940 |
| &nbsp;&nbsp;&nbsp;Foundation Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2A, Class A<br> 4.60%, 03/15/2050\* | &nbsp;&nbsp; 334477 | &nbsp;&nbsp;&nbsp;&nbsp; 332481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1A, Class A<br> 4.95%, 04/15/2050\* | &nbsp;&nbsp; 305877 | &nbsp;&nbsp;&nbsp;&nbsp; 307225 |
| &nbsp;&nbsp;&nbsp;Granite Park Equipment Leasing |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1A, Class A3<br> 6.46%, 09/20/2032\* | &nbsp;&nbsp; 93478 | &nbsp;&nbsp;&nbsp;&nbsp; 95117 |
| &nbsp;&nbsp;&nbsp;GreatAmerica Leasing Receivables Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1, Class A4<br> 4.58%, 01/15/2032\* | &nbsp;&nbsp; 142000 | &nbsp;&nbsp;&nbsp;&nbsp; 141733 |
| &nbsp;&nbsp;&nbsp;GreenSky Home Improvement Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2A, Class A3<br> 5.02%, 06/25/2060\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100521 |
| &nbsp;&nbsp;&nbsp;GSAMP Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-FM1, Class A2C<br> 4.79%, (TSFR1M+0.43%), 04/25/2036 | &nbsp;&nbsp; 128339 | &nbsp;&nbsp;&nbsp;&nbsp; 85061 |
| &nbsp;&nbsp;&nbsp;Hilton Grand Vacations Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-3A, Class A<br> 4.98%, 08/27/2040\* | &nbsp;&nbsp; 192171 | &nbsp;&nbsp;&nbsp;&nbsp; 192845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2A, Class A<br> 5.50%, 03/25/2038\* | &nbsp;&nbsp; 126561 | &nbsp;&nbsp;&nbsp;&nbsp; 128224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1B, Class C<br> 6.62%, 09/15/2039\* | &nbsp;&nbsp; 147180 | &nbsp;&nbsp;&nbsp;&nbsp; 148688 |
| &nbsp;&nbsp;&nbsp;HINNT LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-A, Class B<br> 5.84%, 03/15/2043\* | &nbsp;&nbsp; 112186 | &nbsp;&nbsp;&nbsp;&nbsp; 113287 |
| &nbsp;&nbsp;&nbsp;HPEFS Equipment Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-2A, Class C<br> 6.48%, 01/21/2031\* | &nbsp;&nbsp; 357000 | &nbsp;&nbsp;&nbsp;&nbsp; 359568 |
| &nbsp;&nbsp;&nbsp;Invitation Homes Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-SFR1, Class A<br> 4.00%, 09/17/2041\* | &nbsp;&nbsp; 320879 | &nbsp;&nbsp;&nbsp;&nbsp; 310943 |
| &nbsp;&nbsp;&nbsp;Lendmark Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2A, Class A<br> 2.00%, 04/20/2032\* | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 570148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2A, Class A<br> 4.47%, 02/21/2034\* | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 238234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2A, Class A<br> 4.78%, 10/20/2034\* | &nbsp;&nbsp; 675000 | &nbsp;&nbsp;&nbsp;&nbsp; 675422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1A, Class C<br> 5.68%, 09/20/2034\* | &nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 136324 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |
| **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;Mariner Finance Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-AA, Class A<br> 5.13%, 09/22/2036\* | $428000 | &nbsp;&nbsp;$431466 |
| &nbsp;&nbsp;&nbsp;MVW LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2A, Class A<br> 4.43%, 03/20/2042\* | &nbsp;&nbsp; 264845 | &nbsp;&nbsp;&nbsp;&nbsp; 262762 |
| &nbsp;&nbsp;&nbsp;Navient Private Education Refi Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-EA, Class A<br> 0.97%, 12/16/2069\* | &nbsp;&nbsp; 93814 | &nbsp;&nbsp;&nbsp;&nbsp; 83742 |
| &nbsp;&nbsp;&nbsp;NMEF Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-A, Class A2<br> 6.57%, 06/17/2030\* | &nbsp;&nbsp; 110060 | &nbsp;&nbsp;&nbsp;&nbsp; 110670 |
| &nbsp;&nbsp;&nbsp;Pagaya AI Technology in Housing Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1, Class A<br> 3.60%, 10/25/2040\* | &nbsp;&nbsp; 315000 | &nbsp;&nbsp;&nbsp;&nbsp; 303033 |
| &nbsp;&nbsp;&nbsp;PRET Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RPL2, Class A1<br> 4.08%, 06/25/2064\*(3) | &nbsp;&nbsp; 305447 | &nbsp;&nbsp;&nbsp;&nbsp; 289735 |
| &nbsp;&nbsp;&nbsp;Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-SFR3, Class A<br> 3.00%, 06/17/2041\* | &nbsp;&nbsp; 349252 | &nbsp;&nbsp;&nbsp;&nbsp; 327499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-SFR4, Class A<br> 3.10%, 07/17/2041\* | &nbsp;&nbsp; 704203 | &nbsp;&nbsp;&nbsp;&nbsp; 662326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SFR2, Class A<br> 3.31%, 04/17/2042\* | &nbsp;&nbsp; 395000 | &nbsp;&nbsp;&nbsp;&nbsp; 370039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SFR3, Class B<br> 3.39%, 07/17/2042\* | &nbsp;&nbsp; 280000 | &nbsp;&nbsp;&nbsp;&nbsp; 256682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-SFR3, Class B<br> 3.50%, 06/17/2041\* | &nbsp;&nbsp; 490000 | &nbsp;&nbsp;&nbsp;&nbsp; 463086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SFR1, Class C<br> 3.65%, 02/17/2042\* | &nbsp;&nbsp; 278125 | &nbsp;&nbsp;&nbsp;&nbsp; 259451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-SFR2, Class A<br> 4.50%, 10/17/2040\* | &nbsp;&nbsp; 699300 | &nbsp;&nbsp;&nbsp;&nbsp; 693712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-SFR2, Class B<br> 4.50%, 10/17/2040\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98332 |
| &nbsp;&nbsp;&nbsp;Progress Residential Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-SFR5, Class D<br> 3.38%, 08/09/2029\*(3) | &nbsp;&nbsp; 495000 | &nbsp;&nbsp;&nbsp;&nbsp; 453470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-SFR2, Class B<br> 3.40%, 04/17/2041\*(3) | &nbsp;&nbsp; 123000 | &nbsp;&nbsp;&nbsp;&nbsp; 116113 |
| &nbsp;&nbsp;&nbsp;Republic Finance Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-A, Class A<br> 5.91%, 08/20/2032\* | &nbsp;&nbsp; 359000 | &nbsp;&nbsp;&nbsp;&nbsp; 363079 |
| &nbsp;&nbsp;&nbsp;SCF Equipment Leasing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class C<br> 5.82%, 09/20/2032\* | &nbsp;&nbsp; 129000 | &nbsp;&nbsp;&nbsp;&nbsp; 132408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1A, Class B<br> 6.37%, 05/20/2032\* | &nbsp;&nbsp; 430000 | &nbsp;&nbsp;&nbsp;&nbsp; 440654 |
| &nbsp;&nbsp;&nbsp;SCF Equipment Trust LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1A, Class B<br> 5.23%, 09/20/2034\* | &nbsp;&nbsp; 267000 | &nbsp;&nbsp;&nbsp;&nbsp; 271363 |
| &nbsp;&nbsp;&nbsp;Sierra Timeshare Receivables Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2A, Class B<br> 4.93%, 04/20/2044\* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 140000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class C<br> 5.94%, 01/20/2043\* | &nbsp;&nbsp; 46130 | &nbsp;&nbsp;&nbsp;&nbsp; 46389 |
| &nbsp;&nbsp;&nbsp;SLM Private Credit Student Loan Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-BW, Class A5<br> 4.78%, (TSFR3M+0.46%), 12/15/2039 | &nbsp;&nbsp; 38192 | &nbsp;&nbsp;&nbsp;&nbsp; 37127 |
| &nbsp;&nbsp;&nbsp;SMB Private Education Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-D, Class A1A<br> 1.34%, 03/17/2053\* | &nbsp;&nbsp; 86014 | &nbsp;&nbsp;&nbsp;&nbsp; 79977 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;Subway Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2I<br> 6.03%, 07/30/2054\* | $774150 | &nbsp;&nbsp;$783846 |
| &nbsp;&nbsp;&nbsp;Tricon Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-SFR4, Class A<br> 4.30%, 11/17/2041\* | &nbsp;&nbsp; 368628 | &nbsp;&nbsp;&nbsp;&nbsp; 361390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-SFR4, Class B<br> 4.65%, 11/17/2041\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 196272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-SFR2, Class A<br> 4.75%, 06/17/2040\* | &nbsp;&nbsp; 259497 | &nbsp;&nbsp;&nbsp;&nbsp; 259357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-SFR2, Class B<br> 5.00%, 12/17/2040\* | &nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 219236 |
| &nbsp;&nbsp;&nbsp;Verdant Receivables LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 5.68%, 12/12/2031\* | &nbsp;&nbsp; 81849 | &nbsp;&nbsp;&nbsp;&nbsp; 82913 |
| &nbsp;&nbsp;&nbsp;Wingspire Equipment Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 4.99%, 09/20/2032\* | &nbsp;&nbsp; 304572 | &nbsp;&nbsp;&nbsp;&nbsp; 304237 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;15455595 |
| **Total Asset Backed Securities<br> (cost $23,423,853)** |  | &nbsp;&nbsp;&nbsp;&nbsp;23761663 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 2.5%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 2.5%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 2.5%** |
| **Commercial and Residential — 1.8%** | **Commercial and Residential — 1.8%** | **Commercial and Residential — 1.8%** |
| &nbsp;&nbsp;&nbsp;Arroyo Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-3, Class A1<br> 2.96%, 10/25/2048\*(3) | &nbsp;&nbsp; 23480 | &nbsp;&nbsp;&nbsp;&nbsp; 22239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-1, Class A1<br> 3.81%, 01/25/2049\*(3) | &nbsp;&nbsp; 12289 | &nbsp;&nbsp;&nbsp;&nbsp; 11912 |
| &nbsp;&nbsp;&nbsp;BAMLL Commercial Mtg. Securities Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-PARK, Class A<br> 4.09%, 08/10/2038\*(3) | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96737 |
| &nbsp;&nbsp;&nbsp;BANK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-BN28, Class AS<br> 2.14%, 03/15/2063 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 85967 |
| &nbsp;&nbsp;&nbsp;CCUBS Commercial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C1, Class C<br> 4.43%, 11/15/2050(3) | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 54360 |
| &nbsp;&nbsp;&nbsp;CD Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-CD1, Class C<br> 3.63%, 08/10/2049(3) | &nbsp;&nbsp; 205000 | &nbsp;&nbsp;&nbsp;&nbsp; 135787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-CD2, Class C<br> 3.97%, 11/10/2049(3) | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 76908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-CD7, Class C<br> 4.84%, 08/15/2051(3) | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 551836 |
| &nbsp;&nbsp;&nbsp;CIM Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-INV1, Class A2<br> 5.46%, (SOFR30A+1.11%), 02/25/2049\* | &nbsp;&nbsp; 3500 | &nbsp;&nbsp;&nbsp;&nbsp; 3402 |
| &nbsp;&nbsp;&nbsp;Citigroup Commercial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-GC29, Class C<br> 3.98%, 04/10/2048(3) | &nbsp;&nbsp; 117435 | &nbsp;&nbsp;&nbsp;&nbsp; 106408 |
| &nbsp;&nbsp;&nbsp;Citigroup Mtg. Loan Trust, Inc. VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-PS1, Class B1<br> 5.25%, 09/25/2042\*(3) | &nbsp;&nbsp; 80435 | &nbsp;&nbsp;&nbsp;&nbsp; 79771 |
| &nbsp;&nbsp;&nbsp;COMM Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-667M, Class A<br> 3.14%, 10/10/2036\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 93288 |
| &nbsp;&nbsp;&nbsp;Countrywide Alternative Loan Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-OA9, Class 1A1<br> 4.87%, (TSFR1M+0.51%), 07/20/2046 | &nbsp;&nbsp; 79411 | &nbsp;&nbsp;&nbsp;&nbsp; 61850 |
| &nbsp;&nbsp;&nbsp;CSAIL Commercial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-C20, Class AS<br> 3.08%, 03/15/2054(3) | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 304294 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** |
| **Commercial and Residential (continued)** | **Commercial and Residential (continued)** | **Commercial and Residential (continued)** |
| &nbsp;&nbsp;&nbsp;CSMC Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-1, Class B2<br> 3.89%, 01/25/2045\*(3) | $26781 | &nbsp;&nbsp;$25742 |
| &nbsp;&nbsp;&nbsp;GCAT Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1<br> 1.04%, 05/25/2066\*(3) | &nbsp;&nbsp; 72014 | &nbsp;&nbsp;&nbsp;&nbsp; 61251 |
| &nbsp;&nbsp;&nbsp;GS Mtg. Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-GPTX, Class A<br> 2.86%, 05/10/2034\* | &nbsp;&nbsp; 148495 | &nbsp;&nbsp;&nbsp;&nbsp; 130741 |
| &nbsp;&nbsp;&nbsp;GS Mtg.-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RPL3, Class A1<br> 4.10%, 07/25/2065\* | &nbsp;&nbsp; 143925 | &nbsp;&nbsp;&nbsp;&nbsp; 138438 |
| &nbsp;&nbsp;&nbsp;GS Mtg.-Backed Securities Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SL1, Class A1<br> 5.85%, 11/25/2067\*(3) | &nbsp;&nbsp; 573605 | &nbsp;&nbsp;&nbsp;&nbsp; 575651 |
| &nbsp;&nbsp;&nbsp;JPMBB Commercial Mtg. Securities Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-C12, Class C<br> 3.94%, 07/15/2045(3) | &nbsp;&nbsp; 221325 | &nbsp;&nbsp;&nbsp;&nbsp; 212472 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase Commercial Mtg. Securities Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-JP4, Class C<br> 3.37%, 12/15/2049(3) | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 52449 |
| &nbsp;&nbsp;&nbsp;JPMorgan Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1, Class A4<br> 2.50%, 06/25/2051\*(3) | &nbsp;&nbsp; 39875 | &nbsp;&nbsp;&nbsp;&nbsp; 36476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-4, Class A13<br> 3.50%, 10/25/2046\*(3) | &nbsp;&nbsp; 22564 | &nbsp;&nbsp;&nbsp;&nbsp; 20298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-3, Class B2<br> 3.79%, 08/25/2047\*(3) | &nbsp;&nbsp; 132152 | &nbsp;&nbsp;&nbsp;&nbsp; 122172 |
| &nbsp;&nbsp;&nbsp;LHOME Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RTL4, Class A1<br> 5.92%, 07/25/2039\* | &nbsp;&nbsp; 385000 | &nbsp;&nbsp;&nbsp;&nbsp; 385678 |
| &nbsp;&nbsp;&nbsp;MetLife Securitization Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-1A, Class A<br> 3.00%, 04/25/2055\*(3) | &nbsp;&nbsp; 63455 | &nbsp;&nbsp;&nbsp;&nbsp; 60648 |
| &nbsp;&nbsp;&nbsp;MHC Commercial Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-MHC, Class A<br> 5.26%, (TSFR1M+0.92%), 04/15/2038\* | &nbsp;&nbsp; 12339 | &nbsp;&nbsp;&nbsp;&nbsp; 12339 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-C21, Class B<br> 3.85%, 03/15/2048(3) | &nbsp;&nbsp; 192194 | &nbsp;&nbsp;&nbsp;&nbsp; 182008 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-HR8, Class AS<br> 2.30%, 07/15/2053 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 108675 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-MP, Class A<br> 4.28%, 07/11/2040\*(3) | &nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 216210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-L2, Class C<br> 4.97%, 03/15/2052(3) | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 171966 |
| &nbsp;&nbsp;&nbsp;MRCD Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-PARK, Class B<br> 2.72%, 12/15/2036\* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 121075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-PARK, Class C<br> 2.72%, 12/15/2036\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 114915 |
| &nbsp;&nbsp;&nbsp;New Residential Mtg. Loan Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-4A, Class B1A<br> 4.50%, 11/25/2056\*(3) | &nbsp;&nbsp; 55235 | &nbsp;&nbsp;&nbsp;&nbsp; 54087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-2A, Class B3<br> 5.28%, 08/25/2055\*(3) | &nbsp;&nbsp; 33275 | &nbsp;&nbsp;&nbsp;&nbsp; 32977 |
| &nbsp;&nbsp;&nbsp;OBX Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-EXP1, Class 2A1B<br> 5.38%, (TSFR1M+1.06%), 01/25/2059\* | &nbsp;&nbsp; 35262 | &nbsp;&nbsp;&nbsp;&nbsp; 35229 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Commercial and Residential (continued)** | **Commercial and Residential (continued)** | **Commercial and Residential (continued)** |
| &nbsp;&nbsp;&nbsp;PRPM LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RPL2, Class A1<br> 3.50%, 05/25/2054\* | $356682 | &nbsp;&nbsp;$344067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RCF3, Class A1<br> 4.00%, 05/25/2054\* | &nbsp;&nbsp; 148740 | &nbsp;&nbsp;&nbsp;&nbsp; 145784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RCF4, Class A1<br> 4.00%, 07/25/2054\* | &nbsp;&nbsp; 143363 | &nbsp;&nbsp;&nbsp;&nbsp; 140293 |
| &nbsp;&nbsp;&nbsp;SBALR Commercial Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-RR1, Class A3<br> 2.83%, 02/13/2053\* | &nbsp;&nbsp; 748030 | &nbsp;&nbsp;&nbsp;&nbsp; 648473 |
| &nbsp;&nbsp;&nbsp;SDR Commercial Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-DSNY, Class B<br> 6.08%, (TSFR1M+1.74%), 05/15/2039\* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 299251 |
| &nbsp;&nbsp;&nbsp;Sequoia Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-3, Class A4<br> 2.50%, 05/25/2051\*(3) | &nbsp;&nbsp; 66870 | &nbsp;&nbsp;&nbsp;&nbsp; 59318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-2, Class B1<br> 3.64%, 02/25/2043(3) | &nbsp;&nbsp; 7107 | &nbsp;&nbsp;&nbsp;&nbsp; 6941 |
| &nbsp;&nbsp;&nbsp;SG Commercial Mtg. Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C5, Class B<br> 3.93%, 10/10/2048 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 312348 |
| &nbsp;&nbsp;&nbsp;Towd Point Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-4, Class A2<br> 3.25%, 10/25/2059\*(3) | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 680149 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C41, Class A3<br> 3.21%, 11/15/2050 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 58548 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Mtg. Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-7, Class A1<br> 6.00%, 06/25/2037 | &nbsp;&nbsp; 6701 | &nbsp;&nbsp;&nbsp;&nbsp; 6186 |
| &nbsp;&nbsp;&nbsp;WFRBS Commercial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-C22, Class C<br> 3.62%, 09/15/2057(3) | &nbsp;&nbsp; 165000 | &nbsp;&nbsp;&nbsp;&nbsp; 132772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-C22, Class B<br> 4.37%, 09/15/2057(3) | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 158809 |
| &nbsp;&nbsp;&nbsp;WHARF Commercial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-DC, Class A<br> 5.35%, 07/15/2040\*(3) | &nbsp;&nbsp; 264000 | &nbsp;&nbsp;&nbsp;&nbsp; 268197 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7817392 |
| **U.S. Government Agency — 0.7%** | **U.S. Government Agency — 0.7%** | **U.S. Government Agency — 0.7%** |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. Multifamily Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-K70, Class B<br> 3.81%, 12/25/2049\*(3) | &nbsp;&nbsp; 420000 | &nbsp;&nbsp;&nbsp;&nbsp; 410016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-K62, Class B<br> 3.88%, 01/25/2050\*(3) | &nbsp;&nbsp; 580000 | &nbsp;&nbsp;&nbsp;&nbsp; 570778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-K66, Class C<br> 4.04%, 07/25/2027\*(3) | &nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp; 301364 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. Multifamily Structured Credit Risk FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-MN8, Class M2<br> 8.60%, (SOFR30A+4.25%), 05/25/2044\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 156854 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. Multifamily Structured Credit Risk Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-MN11, Class M1<br> 5.99%, (SOFR30A+1.65%), 07/25/2045\* | &nbsp;&nbsp; 204000 | &nbsp;&nbsp;&nbsp;&nbsp; 204000 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 4056, Class BI<br> 3.00%, 05/15/2027(4) | &nbsp;&nbsp; 2072 | &nbsp;&nbsp;&nbsp;&nbsp; 38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 4207, Class JI<br> 3.00%, 05/15/2028(4) | &nbsp;&nbsp; 18418 | &nbsp;&nbsp;&nbsp;&nbsp; 441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 4121, Class UI<br> 3.50%, 10/15/2042(4) | &nbsp;&nbsp; 114702 | &nbsp;&nbsp;&nbsp;&nbsp; 12794 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** |
| **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 4808, Class DL<br> 4.00%, 11/15/2045 | $30000 | &nbsp;&nbsp;$29729 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. REMIC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 4954, Class SY<br> 1.59%, (5.94%-SOFR30A), 02/25/2050(4)(5) | &nbsp;&nbsp; 105273 | &nbsp;&nbsp;&nbsp;&nbsp; 12074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 3994, Class SH<br> 2.15%, (6.49%-SOFR30A), 06/15/2041(4)(5) | &nbsp;&nbsp; 144981 | &nbsp;&nbsp;&nbsp;&nbsp; 5810 |
| &nbsp;&nbsp;&nbsp;Federal National Mtg. Assoc. REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-2, Class BI<br> 2.50%, 02/25/2028(4) | &nbsp;&nbsp; 30153 | &nbsp;&nbsp;&nbsp;&nbsp; 619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-10, Class YI<br> 3.00%, 02/25/2028(4) | &nbsp;&nbsp; 5307 | &nbsp;&nbsp;&nbsp;&nbsp; 109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-54, Class IO<br> 3.00%, 07/25/2032(4) | &nbsp;&nbsp; 69004 | &nbsp;&nbsp;&nbsp;&nbsp; 3767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-62, Class IA<br> 3.00%, 10/25/2040(4) | &nbsp;&nbsp; 8474 | &nbsp;&nbsp;&nbsp;&nbsp; 142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-92, Class A<br> 3.00%, 04/25/2042 | &nbsp;&nbsp; 4262 | &nbsp;&nbsp;&nbsp;&nbsp; 4197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1, Class JI<br> 3.00%, 01/25/2051(4) | &nbsp;&nbsp; 144598 | &nbsp;&nbsp;&nbsp;&nbsp; 25051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-4, Class LI<br> 3.50%, 02/25/2036(4) | &nbsp;&nbsp; 84204 | &nbsp;&nbsp;&nbsp;&nbsp; 6513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-66, Class C<br> 3.50%, 08/25/2045 | &nbsp;&nbsp; 3962 | &nbsp;&nbsp;&nbsp;&nbsp; 3943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-46, Class LB<br> 3.50%, 12/25/2052 | &nbsp;&nbsp; 50312 | &nbsp;&nbsp;&nbsp;&nbsp; 49548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-49, Class JA<br> 4.00%, 07/25/2053 | &nbsp;&nbsp; 33816 | &nbsp;&nbsp;&nbsp;&nbsp; 33553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-18, Class IA<br> 4.50%, 04/25/2045(4) | &nbsp;&nbsp; 91547 | &nbsp;&nbsp;&nbsp;&nbsp; 18794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2002-16, Class TM<br> 7.00%, 04/25/2032 | &nbsp;&nbsp; 15098 | &nbsp;&nbsp;&nbsp;&nbsp; 15560 |
| &nbsp;&nbsp;&nbsp;Federal National Mtg. Assoc. REMIC VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-38, Class AS<br> 2.05%, 06/25/2045(3)(4) | &nbsp;&nbsp; 48207 | &nbsp;&nbsp;&nbsp;&nbsp; 3156 |
| &nbsp;&nbsp;&nbsp;Federal National Mtg. Assoc. STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 421, Class C3<br> 4.00%, 07/25/2030(4) | &nbsp;&nbsp; 23277 | &nbsp;&nbsp;&nbsp;&nbsp; 1027 |
| &nbsp;&nbsp;&nbsp;Government National Mtg. Assoc. REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-185, Class LI<br> 2.00%, 12/20/2050(4) | &nbsp;&nbsp; 639164 | &nbsp;&nbsp;&nbsp;&nbsp; 78173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-191, Class IM<br> 2.50%, 12/20/2050(4) | &nbsp;&nbsp; 139894 | &nbsp;&nbsp;&nbsp;&nbsp; 20204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-51, Class AH<br> 2.60%, 05/16/2059 | &nbsp;&nbsp; 27526 | &nbsp;&nbsp;&nbsp;&nbsp; 22984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-190, Class AD<br> 2.60%, 03/16/2060 | &nbsp;&nbsp; 17923 | &nbsp;&nbsp;&nbsp;&nbsp; 15021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-146, Class MI<br> 3.00%, 10/20/2050(4) | &nbsp;&nbsp; 120517 | &nbsp;&nbsp;&nbsp;&nbsp; 19860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-167, Class IE<br> 3.00%, 11/20/2050(4) | &nbsp;&nbsp; 133290 | &nbsp;&nbsp;&nbsp;&nbsp; 22755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-167, Class IG<br> 3.00%, 11/20/2050(4) | &nbsp;&nbsp; 175796 | &nbsp;&nbsp;&nbsp;&nbsp; 29222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-181, Class MI<br> 3.00%, 12/20/2050(4) | &nbsp;&nbsp; 116090 | &nbsp;&nbsp;&nbsp;&nbsp; 19239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-15, Class IP<br> 3.00%, 01/20/2051(4) | &nbsp;&nbsp; 188580 | &nbsp;&nbsp;&nbsp;&nbsp; 31300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1, Class GC<br> 3.50%, 10/20/2051 | &nbsp;&nbsp; 797625 | &nbsp;&nbsp;&nbsp;&nbsp; 756889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-87, Class IO<br> 4.00%, 01/20/2046(4) | &nbsp;&nbsp; 14613 | &nbsp;&nbsp;&nbsp;&nbsp; 606 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** |
| &nbsp;&nbsp;&nbsp;Government National Mtg. Assoc. REMIC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-147, Class SE<br> 1.63%, (5.99%-TSFR1M), 10/20/2046(4)(5) | $70756 | &nbsp;&nbsp;$8200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-176, Class SC<br> 1.73%, (6.09%-TSFR1M), 11/20/2047(4)(5) | &nbsp;&nbsp; 82345 | &nbsp;&nbsp;&nbsp;&nbsp; 11089 |
| &nbsp;&nbsp;&nbsp;Government National Mtg. Assoc. REMIC VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-97, Class IO<br> 0.78%, 06/16/2045(3)(4) | &nbsp;&nbsp; 361815 | &nbsp;&nbsp;&nbsp;&nbsp; 4376 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2909795 |
| **Total Collateralized Mortgage Obligations<br> (cost $11,299,121)** |  | &nbsp;&nbsp;&nbsp;&nbsp;10727187 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 8.3%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 8.3%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 8.3%** |
| **U.S. Government — 7.5%** | **U.S. Government — 7.5%** | **U.S. Government — 7.5%** |
| &nbsp;&nbsp;&nbsp;United States Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.88%, 11/15/2051 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 273906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 11/15/2041 to 08/15/2051 | &nbsp;&nbsp;4494000 | &nbsp;&nbsp;&nbsp;&nbsp; 2898721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 02/15/2052 | &nbsp;&nbsp;1916000 | &nbsp;&nbsp;&nbsp;&nbsp; 1152893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 08/15/2052 | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp; 604264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 05/15/2043 | &nbsp;&nbsp;2660000 | &nbsp;&nbsp;&nbsp;&nbsp; 2349216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 08/15/2044 | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp; 769648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 02/15/2044 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 477617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 11/15/2044 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 483672 |
| &nbsp;&nbsp;&nbsp;United States Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.25%, 11/30/2026 | &nbsp;&nbsp;1655000 | &nbsp;&nbsp;&nbsp;&nbsp; 1594942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 09/15/2027 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 173072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 12/31/2028 | &nbsp;&nbsp;3150000 | &nbsp;&nbsp;&nbsp;&nbsp; 3134619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 05/31/2027 to 08/15/2034 | &nbsp;&nbsp;4850000 | &nbsp;&nbsp;&nbsp;&nbsp; 4801715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 04/30/2032 | &nbsp;&nbsp;1130000 | &nbsp;&nbsp;&nbsp;&nbsp; 1121746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 06/15/2026(6) | &nbsp;&nbsp;1045000 | &nbsp;&nbsp;&nbsp;&nbsp; 1044255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 01/31/2026(6) | &nbsp;&nbsp;5553000 | &nbsp;&nbsp;&nbsp;&nbsp; 5549660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 02/28/2031 to 11/15/2034 | &nbsp;&nbsp;2350000 | &nbsp;&nbsp;&nbsp;&nbsp; 2364000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 11/15/2026 to 02/15/2035 | &nbsp;&nbsp;3080000 | &nbsp;&nbsp;&nbsp;&nbsp; 3168321 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;31962267 |
| **U.S. Government Agency — 0.8%** | **U.S. Government Agency — 0.8%** | **U.S. Government Agency — 0.8%** |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.09%, 02/22/2036 | &nbsp;&nbsp; 890000 | &nbsp;&nbsp;&nbsp;&nbsp; 681454 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 11/01/2035 to 08/01/2050 | &nbsp;&nbsp; 171237 | &nbsp;&nbsp;&nbsp;&nbsp; 145001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 04/01/2035 | &nbsp;&nbsp; 11072 | &nbsp;&nbsp;&nbsp;&nbsp; 10577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 07/01/2042 to 02/01/2044 | &nbsp;&nbsp; 78004 | &nbsp;&nbsp;&nbsp;&nbsp; 72342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/01/2034 to 04/01/2035 | &nbsp;&nbsp; 21590 | &nbsp;&nbsp;&nbsp;&nbsp; 21757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 05/01/2031 | &nbsp;&nbsp; 2363 | &nbsp;&nbsp;&nbsp;&nbsp; 2420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 12/01/2030 to 02/01/2031 | &nbsp;&nbsp; 9991 | &nbsp;&nbsp;&nbsp;&nbsp; 10012 |
| &nbsp;&nbsp;&nbsp;Federal National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 02/01/2032 to 11/01/2035 | &nbsp;&nbsp; 78254 | &nbsp;&nbsp;&nbsp;&nbsp; 72370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 06/01/2027 to 03/01/2035 | &nbsp;&nbsp; 92345 | &nbsp;&nbsp;&nbsp;&nbsp; 87928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/01/2036 to 04/01/2043 | &nbsp;&nbsp; 81827 | &nbsp;&nbsp;&nbsp;&nbsp; 74106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 08/01/2031 to 05/01/2058 | &nbsp;&nbsp;1253322 | &nbsp;&nbsp;&nbsp;&nbsp; 1131096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 09/01/2038 to 07/01/2056 | &nbsp;&nbsp; 771432 | &nbsp;&nbsp;&nbsp;&nbsp; 719357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 03/01/2041 | &nbsp;&nbsp; 48765 | &nbsp;&nbsp;&nbsp;&nbsp; 48145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 08/01/2035 to 07/01/2047 | &nbsp;&nbsp; 196421 | &nbsp;&nbsp;&nbsp;&nbsp; 197661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 05/01/2031 | &nbsp;&nbsp; 1096 | &nbsp;&nbsp;&nbsp;&nbsp; 1120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 09/01/2025 to 11/01/2027 | &nbsp;&nbsp; 484 | &nbsp;&nbsp;&nbsp;&nbsp; 499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 05/01/2029 to 09/01/2029 | &nbsp;&nbsp; 2653 | &nbsp;&nbsp;&nbsp;&nbsp; 2788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 01/01/2031 | &nbsp;&nbsp; 1332 | &nbsp;&nbsp;&nbsp;&nbsp; 1340 |
| &nbsp;&nbsp;&nbsp;Government National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 02/15/2043 | &nbsp;&nbsp; 50510 | &nbsp;&nbsp;&nbsp;&nbsp; 45255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 09/15/2042 to 11/20/2047 | &nbsp;&nbsp; 169650 | &nbsp;&nbsp;&nbsp;&nbsp; 155842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 10/20/2044 | &nbsp;&nbsp; 41468 | &nbsp;&nbsp;&nbsp;&nbsp; 38676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 05/15/2039 to 10/20/2040 | &nbsp;&nbsp; 46437 | &nbsp;&nbsp;&nbsp;&nbsp; 45334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 07/20/2033 | &nbsp;&nbsp; 18679 | &nbsp;&nbsp;&nbsp;&nbsp; 19026 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** |
| **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 07/20/2033 | $13143 | &nbsp;&nbsp;$13486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 03/20/2027 to 04/20/2027 | &nbsp;&nbsp; 1212 | &nbsp;&nbsp;&nbsp;&nbsp; 1245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 09/15/2030 to 01/15/2032 | &nbsp;&nbsp; 10121 | &nbsp;&nbsp;&nbsp;&nbsp; 10443 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3609280 |
| **Total U.S. Government & Agency Obligations<br> (cost $38,730,964)** |  | &nbsp;&nbsp;&nbsp;&nbsp;35571547 |
| **FOREIGN GOVERNMENT OBLIGATIONS — 0.6%** | **FOREIGN GOVERNMENT OBLIGATIONS — 0.6%** | **FOREIGN GOVERNMENT OBLIGATIONS — 0.6%** |
| **Sovereign — 0.6%** | **Sovereign — 0.6%** | **Sovereign — 0.6%** |
| &nbsp;&nbsp;&nbsp;Arab Republic of Egypt |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.88%, 05/29/2050 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 166800 |
| &nbsp;&nbsp;&nbsp;Dominican Republic |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 02/22/2033\* | &nbsp;&nbsp; 396000 | &nbsp;&nbsp;&nbsp;&nbsp; 392891 |
| &nbsp;&nbsp;&nbsp;Federative Republic of Brazil |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 03/15/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200893 |
| &nbsp;&nbsp;&nbsp;Government of Bermuda |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 08/20/2030\* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 231104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 02/15/2029\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/15/2032\* | &nbsp;&nbsp; 305000 | &nbsp;&nbsp;&nbsp;&nbsp; 302173 |
| &nbsp;&nbsp;&nbsp;Kingdom of Morocco |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 12/15/2032\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 170168 |
| &nbsp;&nbsp;&nbsp;Republic of Paraguay |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 02/09/2036\* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 358102 |
| &nbsp;&nbsp;&nbsp;United Mexican States |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 05/07/2036 | &nbsp;&nbsp; 345000 | &nbsp;&nbsp;&nbsp;&nbsp; 338100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.34%, 05/04/2053 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 182700 |
| **Total Foreign Government Obligations<br> (cost $2,623,525)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2543841 |
| **UNAFFILIATED INVESTMENT COMPANIES — 4.3%** | **UNAFFILIATED INVESTMENT COMPANIES — 4.3%** | **UNAFFILIATED INVESTMENT COMPANIES — 4.3%** |
| &nbsp;&nbsp;&nbsp;JPMorgan Emerging Markets Equity Fund, Class R6 | &nbsp;&nbsp; 151334 | &nbsp;&nbsp;&nbsp;&nbsp; 5429881 |
| &nbsp;&nbsp;&nbsp;JPMorgan High Yield Fund | &nbsp;&nbsp;1990344 | &nbsp;&nbsp;&nbsp;&nbsp; 13016849 |
| **Total Unaffiliated Investment Companies<br> (cost $17,306,513)** |  | &nbsp;&nbsp;&nbsp;&nbsp;18446730 |
| **Total Long-Term Investment Securities<br> (cost $372,461,609)** |  | &nbsp;&nbsp;&nbsp;&nbsp;411099069 |
| **SHORT-TERM INVESTMENTS — 2.5%** | **SHORT-TERM INVESTMENTS — 2.5%** | **SHORT-TERM INVESTMENTS — 2.5%** |
| **Commercial Paper — 0.2%** | **Commercial Paper — 0.2%** | **Commercial Paper — 0.2%** |
| &nbsp;&nbsp;&nbsp;Australia & New Zealand Banking Group, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.39%, 11/25/2025\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 246489 |
| &nbsp;&nbsp;&nbsp;Credit Industriel et Commercial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 05/12/2026 | &nbsp;&nbsp; 186000 | &nbsp;&nbsp;&nbsp;&nbsp; 179679 |
| &nbsp;&nbsp;&nbsp;Crédit Industriel et Commercial Insititutional Certificate |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 11/21/2025 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 250077 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank AG/New York NY |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.41%, 07/08/2026 | &nbsp;&nbsp; 151000 | &nbsp;&nbsp;&nbsp;&nbsp; 150925 |
| &nbsp;&nbsp;&nbsp;Svenska Handelsbanken AB, Class A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.39%, 11/18/2025 | &nbsp;&nbsp; 201000 | &nbsp;&nbsp;&nbsp;&nbsp; 198344 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1025514 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Unaffiliated Investment Companies — 1.0%** | **Unaffiliated Investment Companies — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;JPMorgan Prime Money Market Fund, Class IM<br> 4.46%(7) | &nbsp;&nbsp;4296874 | &nbsp;&nbsp;$4297304 |
| **U.S. Government — 1.3%** | **U.S. Government — 1.3%** |  |
| &nbsp;&nbsp;&nbsp;United States Treasury Bills |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.23%, 08/26/2025 | $5500000 | &nbsp;&nbsp;&nbsp;&nbsp; 5483584 |
| **Total Short-Term Investments<br> (cost $10,807,127)** |  | &nbsp;&nbsp;&nbsp;&nbsp;10806402 |
| **TOTAL INVESTMENTS<br> (cost $383,268,736)(8)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98.4% | &nbsp;&nbsp;&nbsp;&nbsp;421905471 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6884089 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$428789560 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The SA JPMorgan Diversified Balanced Portfolio has no right to demand registration of these securities. At July 31, 2025, the aggregate value of these securities was $49,711,125 representing 11.6% of net assets. |
| † | &nbsp;&nbsp;Non-income producing security |
| (1) | &nbsp;&nbsp;Securities classified as Level 3 (see Note 2). |
| (2) | &nbsp;&nbsp;Perpetual maturity - maturity date reflects the next call date. |
| (3) | &nbsp;&nbsp;Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
| (4) | &nbsp;&nbsp;Interest Only |
| (5) | &nbsp;&nbsp;Inverse Floating Rate Security that pays interest that varies inversely to changes in the market interest rates. The interest rate shown is the current interest rate at July 31, 2025. |
| (6) | &nbsp;&nbsp;The security or a portion thereof was pledged as collateral to cover margin requirements for open futures contracts. |
| (7) | &nbsp;&nbsp;The rate shown is the 7-day yield as of July 31, 2025. |
| (8) | &nbsp;&nbsp;See Note 4 for cost of investments on a tax basis. |

---

---

| |
|:---|
| ADR—American Depositary Receipt |
| ASX—Australian Stock Exchange |
| BR—Bearer Shares |
| CDI—CHESS Depositary Interest |
| CVA—Certification Van Aandelen (Dutch Cert.) |
| FRS—Floating Rate Security |
| REMIC—Real Estate Mortgage Investment Conduit |
| RSP—Risparmio Shares-Savings Shares on the Italian Stock Exchange |
| SDR—Swedish Depositary Receipt |
| SOFR—Secured Overnight Financing Rate |
| SOFR30A—US 30 Day Average Secured Overnight Financing Rate |
| STRIPS—Separate Trading of Registered Interest and Principal |
| TSFR1M—Term Secured Overnight Financing Rate 1 Month |
| TSFR3M—Term Secured Overnight Financing Rate 3 Month |
| VRS—Variable Rate Security |
| XAMS—Euronext Amsterdam Stock Exchange |

---

The rates shown on FRS and/or VRS are the current interest rates at July 31, 2025 and unless noted otherwise, the dates shown are the original maturity dates.

#### Futures Contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number<br> of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Expiration<br> Month** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Basis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Value\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation** |
| 90 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;Australian 10 Year Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$6537178 | &nbsp;&nbsp;&nbsp;&nbsp;$6581258 | &nbsp;&nbsp;&nbsp;&nbsp;$44080 |
| 16 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;E-Mini Russell 1000 Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3330794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3569680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 238886 |
| 35 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;Euro-BTP | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4817087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4823393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6306 |
| 18 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;FTSE 100 Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2109227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2168928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59701 |
| 25 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;Long Gilt | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2984546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3042777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58231 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

#### Futures Contracts — (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number<br> of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Expiration<br> Month** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Basis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Value\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation** |
| &nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;S&P 500 E-Mini Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2523837 | &nbsp;&nbsp;&nbsp;&nbsp;$2549700 | &nbsp;&nbsp;&nbsp;&nbsp;$25863 |
| 359 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury 10 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39459719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39871437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 411718 |
| 31 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury 5 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3351315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3353327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2012 |
| 32 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury Long Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3575507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3654000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78493 |
| 23 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra 10 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2594201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2600797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6596 |
| 41 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4688197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4809812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121615 |
| 58 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;Dow Jones Real Estate Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2108747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2099022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9725 |
| 11 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;Japan 10 Year Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10112957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10068501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44456 |
| 24 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;Japanese Yen | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2097704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1999800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97904 |
| 27 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;Swiss Franc | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4189176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4177406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11770 |
| &nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;U.S. Treasury 2 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 621606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 620954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 652 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$1218008 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
| 16 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;Australian Dollar | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$1048585 | &nbsp;&nbsp;&nbsp;&nbsp;$1029839 | &nbsp;&nbsp;&nbsp;&nbsp;$(18746) |
| 37 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;British Pound | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3127264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3058049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (69215) |
| 22 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;Euro FX | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3166667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3151638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15029) |
| 17 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;Euro STOXX 50 Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1059019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1035981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (23038) |
| 67 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;MSCI EAFE Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8802584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8754890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (47694) |
| 37 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury 2 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7672468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7658423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14045) |
| 192 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;MSCI Emerging Markets Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11658822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11887681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(228859) |
| &nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;S&P/Toronto Stock Exchange 60 Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1142962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1170106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (27144) |
| &nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;SPI 200 Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1232094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1258419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (26325) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$(470095) |
|  |  | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) |  | &nbsp;&nbsp;&nbsp;&nbsp;$747913 |

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** |
| **Counterparty** | &nbsp;&nbsp;**Contract to<br> Deliver** | &nbsp;&nbsp;**Contract to<br> Deliver** | &nbsp;&nbsp;**In<br> Exchange For** | &nbsp;&nbsp;**In<br> Exchange For** | &nbsp;&nbsp;**Delivery<br> Date** | &nbsp;&nbsp;**Unrealized<br> Appreciation** | &nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
| Barclays Bank PLC | &nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;&nbsp;5786176 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612609 | &nbsp;&nbsp;10/29/2025 | &nbsp;&nbsp;$18241 | &nbsp;&nbsp;$— |
|  | &nbsp;&nbsp;SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450441 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355558 | &nbsp;&nbsp;10/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 6367 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;24608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| BNP Paribas SA | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651188 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770898 | &nbsp;&nbsp;10/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp;23542 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Citibank, N.A. | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171933 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145443 | &nbsp;&nbsp;10/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (5010) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364300 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;52782992 | &nbsp;&nbsp;10/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (10930) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15940) |
| HSBC Bank PLC | &nbsp;&nbsp;DKK | &nbsp;&nbsp;&nbsp;&nbsp;3026090 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480413 | &nbsp;&nbsp;10/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp;14729 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179533 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209158 | &nbsp;&nbsp;10/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 3112 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;1228149 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;&nbsp;1852843 | &nbsp;&nbsp;10/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (35495) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;2515190 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;3407701 | &nbsp;&nbsp;10/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (45186) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;2586389 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;1906500 | &nbsp;&nbsp;10/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (66529) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;17841 | &nbsp;&nbsp;&nbsp;&nbsp;(147210) |
| Morgan Stanley & Co. International PLC | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143588 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166682 | &nbsp;&nbsp;10/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 1888 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;HKD | &nbsp;&nbsp;13369572 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;1715802 | &nbsp;&nbsp;10/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 579 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;1468798 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;1153044 | &nbsp;&nbsp;10/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (34099) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34099) |
| Unrealized Appreciation (Depreciation) |  |  |  |  |  | &nbsp;&nbsp;$68458 | &nbsp;&nbsp;$(197249) |

---

---

| |
|:---|
| AUD—Australian Dollar |
| CAD—Canadian Dollar |
| CHF—Swiss Franc |
| DKK—Danish Krone |

---

---

| |
|:---|
| EUR—Euro Currency |
| GBP—British Pound |
| HKD—Hong Kong Dollar |
| JPY—Japanese Yen |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Diversified Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

SEK—Swedish Krona <br> SGD—Singapore Dollar

USD—United States Dollar

\* Calculated as a percentage of net assets

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Iron/Steel | &nbsp;&nbsp;$79669 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$79669 |
| &nbsp;&nbsp;&nbsp;Other Industries | &nbsp;&nbsp;&nbsp;&nbsp;253915293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;253915293 |
| Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3506 |
| Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;66049633 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;66049633 |
| Asset Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;23761663 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;23761663 |
| Collateralized Mortgage Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;10727187 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;10727187 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;35571547 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;35571547 |
| Foreign Government Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2543841 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2543841 |
| Unaffiliated Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;18446730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;18446730 |
| Short-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4297304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4297304 |
| &nbsp;&nbsp;&nbsp;Other Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6509098 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6509098 |
| **Total Investments at Value** | &nbsp;&nbsp;$276742502 | &nbsp;&nbsp;$145162969 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$421905471 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;$1218008 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1218008 |
| Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68458 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68458 |
| **Total Other Financial Instruments** | &nbsp;&nbsp;$1218008 | &nbsp;&nbsp;$68458 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1286466 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;$470095 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$470095 |
| Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197249 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197249 |
| **Total Other Financial Instruments** | &nbsp;&nbsp;$470095 | &nbsp;&nbsp;$197249 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$667344 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | &nbsp;&nbsp;Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

Level 3 investments in securities were not considered a significant portion of the Portfolio's net assets.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Emerging Markets Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 91.9%** | **COMMON STOCKS — 91.9%** | **COMMON STOCKS — 91.9%** |
| **Austria — 0.3%** | **Austria — 0.3%** | **Austria — 0.3%** |
| &nbsp;&nbsp;&nbsp;Raiffeisen Bank International AG | &nbsp;&nbsp;&nbsp;&nbsp;18409 | &nbsp;&nbsp;$534452 |
| **Bermuda — 1.5%** | **Bermuda — 1.5%** | **Bermuda — 1.5%** |
| &nbsp;&nbsp;&nbsp;Credicorp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6039 | &nbsp;&nbsp;&nbsp;&nbsp; 1431243 |
| &nbsp;&nbsp;&nbsp;Genpact, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;21010 | &nbsp;&nbsp;&nbsp;&nbsp; 925491 |
| &nbsp;&nbsp;&nbsp;Kunlun Energy Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;580000 | &nbsp;&nbsp;&nbsp;&nbsp; 559312 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2916046 |
| **Brazil — 5.8%** | **Brazil — 5.8%** | **Brazil — 5.8%** |
| &nbsp;&nbsp;&nbsp;AMBEV SA | &nbsp;&nbsp;&nbsp;&nbsp;327029 | &nbsp;&nbsp;&nbsp;&nbsp; 727698 |
| &nbsp;&nbsp;&nbsp;Cia de Saneamento Basico do Estado de Sao Paulo | &nbsp;&nbsp;&nbsp;&nbsp;36394 | &nbsp;&nbsp;&nbsp;&nbsp; 703956 |
| &nbsp;&nbsp;&nbsp;CPFL Energia SA | &nbsp;&nbsp;&nbsp;&nbsp;79739 | &nbsp;&nbsp;&nbsp;&nbsp; 539848 |
| &nbsp;&nbsp;&nbsp;Cury Construtora e Incorporadora SA | &nbsp;&nbsp;&nbsp;&nbsp;107203 | &nbsp;&nbsp;&nbsp;&nbsp; 563627 |
| &nbsp;&nbsp;&nbsp;Itau Unibanco Holding SA (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;305178 | &nbsp;&nbsp;&nbsp;&nbsp; 1916236 |
| &nbsp;&nbsp;&nbsp;Lojas Renner SA | &nbsp;&nbsp;&nbsp;&nbsp;285424 | &nbsp;&nbsp;&nbsp;&nbsp; 829325 |
| &nbsp;&nbsp;&nbsp;Marcopolo SA (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;401374 | &nbsp;&nbsp;&nbsp;&nbsp; 592074 |
| &nbsp;&nbsp;&nbsp;Petroleo Brasileiro SA (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;172176 | &nbsp;&nbsp;&nbsp;&nbsp; 1003621 |
| &nbsp;&nbsp;&nbsp;Porto Seguro SA | &nbsp;&nbsp;&nbsp;&nbsp;106180 | &nbsp;&nbsp;&nbsp;&nbsp; 983951 |
| &nbsp;&nbsp;&nbsp;Telefonica Brasil SA | &nbsp;&nbsp;&nbsp;&nbsp;193450 | &nbsp;&nbsp;&nbsp;&nbsp; 1087553 |
| &nbsp;&nbsp;&nbsp;TIM SA | &nbsp;&nbsp;&nbsp;&nbsp;170636 | &nbsp;&nbsp;&nbsp;&nbsp; 631099 |
| &nbsp;&nbsp;&nbsp;TOTVS SA | &nbsp;&nbsp;&nbsp;&nbsp;114481 | &nbsp;&nbsp;&nbsp;&nbsp; 891592 |
| &nbsp;&nbsp;&nbsp;XP, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;40023 | &nbsp;&nbsp;&nbsp;&nbsp; 645971 |
| &nbsp;&nbsp;&nbsp;YDUQS Participacoes SA | &nbsp;&nbsp;&nbsp;&nbsp;184481 | &nbsp;&nbsp;&nbsp;&nbsp; 426317 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11542868 |
| **Chile — 0.3%** | **Chile — 0.3%** | **Chile — 0.3%** |
| &nbsp;&nbsp;&nbsp;Banco de Chile | 4232948 | &nbsp;&nbsp;&nbsp;&nbsp; 583101 |
| **China — 24.0%** | **China — 24.0%** | **China — 24.0%** |
| &nbsp;&nbsp;&nbsp;AIMA Technology Group Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;108500 | &nbsp;&nbsp;&nbsp;&nbsp; 522822 |
| &nbsp;&nbsp;&nbsp;Alibaba Group Holding, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;397308 | &nbsp;&nbsp;&nbsp;&nbsp; 5855864 |
| &nbsp;&nbsp;&nbsp;Anhui Expressway Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;316000 | &nbsp;&nbsp;&nbsp;&nbsp; 493524 |
| &nbsp;&nbsp;&nbsp;Bank of Hangzhou Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;277200 | &nbsp;&nbsp;&nbsp;&nbsp; 618535 |
| &nbsp;&nbsp;&nbsp;BYD Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;78000 | &nbsp;&nbsp;&nbsp;&nbsp; 1146650 |
| &nbsp;&nbsp;&nbsp;China CITIC Bank Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;780000 | &nbsp;&nbsp;&nbsp;&nbsp; 726344 |
| &nbsp;&nbsp;&nbsp;China Galaxy Securities Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;893000 | &nbsp;&nbsp;&nbsp;&nbsp; 1208110 |
| &nbsp;&nbsp;&nbsp;China Hongqiao Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;342000 | &nbsp;&nbsp;&nbsp;&nbsp; 906191 |
| &nbsp;&nbsp;&nbsp;China Life Insurance Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp; 1246178 |
| &nbsp;&nbsp;&nbsp;China Pacific Insurance Group Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;307800 | &nbsp;&nbsp;&nbsp;&nbsp; 1241002 |
| &nbsp;&nbsp;&nbsp;China Zheshang Bank Co., Ltd., Class A | 1177300 | &nbsp;&nbsp;&nbsp;&nbsp; 554859 |
| &nbsp;&nbsp;&nbsp;Dongfang Electric Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;191200 | &nbsp;&nbsp;&nbsp;&nbsp; 451573 |
| &nbsp;&nbsp;&nbsp;Fuyao Glass Industry Group Co., Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;96400 | &nbsp;&nbsp;&nbsp;&nbsp; 696904 |
| &nbsp;&nbsp;&nbsp;Gree Electric Appliances, Inc. of Zhuhai, Class A | &nbsp;&nbsp;&nbsp;&nbsp;138800 | &nbsp;&nbsp;&nbsp;&nbsp; 880320 |
| &nbsp;&nbsp;&nbsp;Hello Group, Inc. ADR | &nbsp;&nbsp;&nbsp;&nbsp;65164 | &nbsp;&nbsp;&nbsp;&nbsp; 536300 |
| &nbsp;&nbsp;&nbsp;Inner Mongolia Yili Industrial Group Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;216500 | &nbsp;&nbsp;&nbsp;&nbsp; 825017 |
| &nbsp;&nbsp;&nbsp;JD.com, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;90750 | &nbsp;&nbsp;&nbsp;&nbsp; 1420787 |
| &nbsp;&nbsp;&nbsp;Meituan, Class B\*† | &nbsp;&nbsp;&nbsp;&nbsp;48970 | &nbsp;&nbsp;&nbsp;&nbsp; 758567 |
| &nbsp;&nbsp;&nbsp;NetEase, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;108900 | &nbsp;&nbsp;&nbsp;&nbsp; 2835562 |
| &nbsp;&nbsp;&nbsp;People's Insurance Co. Group of China, Ltd. | 1544000 | &nbsp;&nbsp;&nbsp;&nbsp; 1187995 |
| &nbsp;&nbsp;&nbsp;PICC Property & Casualty Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp; 1663185 |
| &nbsp;&nbsp;&nbsp;Qifu Technology, Inc. ADR | &nbsp;&nbsp;&nbsp;&nbsp;24320 | &nbsp;&nbsp;&nbsp;&nbsp; 834906 |
| &nbsp;&nbsp;&nbsp;Sany Heavy Industry Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;197500 | &nbsp;&nbsp;&nbsp;&nbsp; 547505 |
| &nbsp;&nbsp;&nbsp;SF Holding Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;96000 | &nbsp;&nbsp;&nbsp;&nbsp; 613939 |
| &nbsp;&nbsp;&nbsp;Shanghai Pudong Development Bank Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;432800 | &nbsp;&nbsp;&nbsp;&nbsp; 770783 |
| &nbsp;&nbsp;&nbsp;Tencent Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;177000 | &nbsp;&nbsp;&nbsp;&nbsp; 12401274 |
| &nbsp;&nbsp;&nbsp;Tongcheng Travel Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;228800 | &nbsp;&nbsp;&nbsp;&nbsp; 574186 |
| &nbsp;&nbsp;&nbsp;Tsingtao Brewery Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;136000 | &nbsp;&nbsp;&nbsp;&nbsp; 864510 |
| &nbsp;&nbsp;&nbsp;Weichai Power Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;382000 | &nbsp;&nbsp;&nbsp;&nbsp; 809743 |
| &nbsp;&nbsp;&nbsp;Xiaomi Corp., Class B\*† | &nbsp;&nbsp;&nbsp;&nbsp;252800 | &nbsp;&nbsp;&nbsp;&nbsp; 1711633 |
| &nbsp;&nbsp;&nbsp;Yutong Bus Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;165600 | &nbsp;&nbsp;&nbsp;&nbsp; 573726 |
| &nbsp;&nbsp;&nbsp;Zhejiang Expressway Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp; 599503 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **China (continued)** | **China (continued)** | **China (continued)** |
| &nbsp;&nbsp;&nbsp;Zhejiang Huayou Cobalt Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;113400 | &nbsp;&nbsp;$696522 |
| &nbsp;&nbsp;&nbsp;Zhuzhou CRRC Times Electric Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;131900 | &nbsp;&nbsp;&nbsp;&nbsp; 536001 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;47310520 |
| **Colombia — 0.8%** | **Colombia — 0.8%** | **Colombia — 0.8%** |
| &nbsp;&nbsp;&nbsp;Grupo Cibest SA | &nbsp;&nbsp;&nbsp;&nbsp;34082 | &nbsp;&nbsp;&nbsp;&nbsp; 1479840 |
| **Greece — 3.0%** | **Greece — 3.0%** | **Greece — 3.0%** |
| &nbsp;&nbsp;&nbsp;Eurobank Ergasias Services & Holdings SA | &nbsp;&nbsp;&nbsp;&nbsp;382534 | &nbsp;&nbsp;&nbsp;&nbsp; 1413541 |
| &nbsp;&nbsp;&nbsp;Hellenic Telecommunications Organization SA | &nbsp;&nbsp;&nbsp;&nbsp;32022 | &nbsp;&nbsp;&nbsp;&nbsp; 581042 |
| &nbsp;&nbsp;&nbsp;JUMBO SA | &nbsp;&nbsp;&nbsp;&nbsp;19690 | &nbsp;&nbsp;&nbsp;&nbsp; 666017 |
| &nbsp;&nbsp;&nbsp;Metlen Energy & Metals SA | &nbsp;&nbsp;&nbsp;&nbsp;20149 | &nbsp;&nbsp;&nbsp;&nbsp; 1112451 |
| &nbsp;&nbsp;&nbsp;National Bank of Greece SA | &nbsp;&nbsp;&nbsp;&nbsp;70503 | &nbsp;&nbsp;&nbsp;&nbsp; 988829 |
| &nbsp;&nbsp;&nbsp;OPAP SA | &nbsp;&nbsp;&nbsp;&nbsp;24605 | &nbsp;&nbsp;&nbsp;&nbsp; 552037 |
| &nbsp;&nbsp;&nbsp;Public Power Corp. S.A. | &nbsp;&nbsp;&nbsp;&nbsp;36424 | &nbsp;&nbsp;&nbsp;&nbsp; 592330 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5906247 |
| **Hong Kong — 4.3%** | **Hong Kong — 4.3%** | **Hong Kong — 4.3%** |
| &nbsp;&nbsp;&nbsp;AIA Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;200800 | &nbsp;&nbsp;&nbsp;&nbsp; 1877544 |
| &nbsp;&nbsp;&nbsp;Cathay Pacific Airways, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;385000 | &nbsp;&nbsp;&nbsp;&nbsp; 573822 |
| &nbsp;&nbsp;&nbsp;Geely Automobile Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;533000 | &nbsp;&nbsp;&nbsp;&nbsp; 1200438 |
| &nbsp;&nbsp;&nbsp;Lenovo Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;636000 | &nbsp;&nbsp;&nbsp;&nbsp; 819913 |
| &nbsp;&nbsp;&nbsp;Sinotruk Hong Kong, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;213000 | &nbsp;&nbsp;&nbsp;&nbsp; 649854 |
| &nbsp;&nbsp;&nbsp;SITC International Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp; 1053662 |
| &nbsp;&nbsp;&nbsp;TCL Electronics Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp; 556535 |
| &nbsp;&nbsp;&nbsp;United Laboratories International Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;390000 | &nbsp;&nbsp;&nbsp;&nbsp; 734293 |
| &nbsp;&nbsp;&nbsp;WH Group, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;963000 | &nbsp;&nbsp;&nbsp;&nbsp; 970361 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8436422 |
| **Hungary — 1.1%** | **Hungary — 1.1%** | **Hungary — 1.1%** |
| &nbsp;&nbsp;&nbsp;MOL Hungarian Oil & Gas PLC | &nbsp;&nbsp;&nbsp;&nbsp;67028 | &nbsp;&nbsp;&nbsp;&nbsp; 583291 |
| &nbsp;&nbsp;&nbsp;OTP Bank Nyrt | &nbsp;&nbsp;&nbsp;&nbsp;12612 | &nbsp;&nbsp;&nbsp;&nbsp; 1025552 |
| &nbsp;&nbsp;&nbsp;Richter Gedeon Nyrt | &nbsp;&nbsp;&nbsp;&nbsp;19275 | &nbsp;&nbsp;&nbsp;&nbsp; 578547 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2187390 |
| **India — 7.7%** | **India — 7.7%** | **India — 7.7%** |
| &nbsp;&nbsp;&nbsp;HDFC Bank, Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;65590 | &nbsp;&nbsp;&nbsp;&nbsp; 5035344 |
| &nbsp;&nbsp;&nbsp;ICICI Bank, Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;117386 | &nbsp;&nbsp;&nbsp;&nbsp; 3955908 |
| &nbsp;&nbsp;&nbsp;Infosys, Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;102860 | &nbsp;&nbsp;&nbsp;&nbsp; 1719819 |
| &nbsp;&nbsp;&nbsp;Reliance Industries, Ltd. GDR\* | &nbsp;&nbsp;&nbsp;&nbsp;19574 | &nbsp;&nbsp;&nbsp;&nbsp; 1233162 |
| &nbsp;&nbsp;&nbsp;State Bank of India GDR | &nbsp;&nbsp;&nbsp;&nbsp;26555 | &nbsp;&nbsp;&nbsp;&nbsp; 2435094 |
| &nbsp;&nbsp;&nbsp;Wipro, Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;316386 | &nbsp;&nbsp;&nbsp;&nbsp; 860570 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;15239897 |
| **Indonesia — 1.5%** | **Indonesia — 1.5%** | **Indonesia — 1.5%** |
| &nbsp;&nbsp;&nbsp;Astra International Tbk PT | 2350400 | &nbsp;&nbsp;&nbsp;&nbsp; 728474 |
| &nbsp;&nbsp;&nbsp;Bank Central Asia Tbk PT | 3202300 | &nbsp;&nbsp;&nbsp;&nbsp; 1610394 |
| &nbsp;&nbsp;&nbsp;Indofood Sukses Makmur Tbk PT | 1302900 | &nbsp;&nbsp;&nbsp;&nbsp; 675006 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3013874 |
| **Ireland — 0.3%** | **Ireland — 0.3%** | **Ireland — 0.3%** |
| &nbsp;&nbsp;&nbsp;PDD Holdings, Inc. ADR† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4671 | &nbsp;&nbsp;&nbsp;&nbsp; 529925 |
| **Kazakhstan — 0.2%** | **Kazakhstan — 0.2%** | **Kazakhstan — 0.2%** |
| &nbsp;&nbsp;&nbsp;Kaspi.KZ JSC ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5131 | &nbsp;&nbsp;&nbsp;&nbsp; 404836 |
| **Macau — 0.4%** | **Macau — 0.4%** | **Macau — 0.4%** |
| &nbsp;&nbsp;&nbsp;MGM China Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;373200 | &nbsp;&nbsp;&nbsp;&nbsp; 789187 |
| **Malaysia — 0.6%** | **Malaysia — 0.6%** | **Malaysia — 0.6%** |
| &nbsp;&nbsp;&nbsp;AMMB Holdings Bhd | &nbsp;&nbsp;&nbsp;&nbsp;426500 | &nbsp;&nbsp;&nbsp;&nbsp; 505000 |
| &nbsp;&nbsp;&nbsp;CIMB Group Holdings Bhd | &nbsp;&nbsp;&nbsp;&nbsp;465900 | &nbsp;&nbsp;&nbsp;&nbsp; 715509 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1220509 |
| **Mexico — 2.1%** | **Mexico — 2.1%** | **Mexico — 2.1%** |
| &nbsp;&nbsp;&nbsp;Arca Continental SAB de CV | &nbsp;&nbsp;&nbsp;&nbsp;55913 | &nbsp;&nbsp;&nbsp;&nbsp; 582930 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Emerging Markets Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Mexico (continued)** | **Mexico (continued)** | **Mexico (continued)** |
| &nbsp;&nbsp;&nbsp;Gentera SAB de CV | &nbsp;&nbsp;&nbsp;&nbsp;269517 | &nbsp;&nbsp;$611181 |
| &nbsp;&nbsp;&nbsp;Gruma SAB de CV, Class B | &nbsp;&nbsp;&nbsp;&nbsp;34337 | &nbsp;&nbsp;&nbsp;&nbsp; 591492 |
| &nbsp;&nbsp;&nbsp;Grupo Financiero Banorte SAB de CV, Class O | &nbsp;&nbsp;&nbsp;&nbsp;196751 | &nbsp;&nbsp;&nbsp;&nbsp; 1752247 |
| &nbsp;&nbsp;&nbsp;Regional SAB de CV | &nbsp;&nbsp;&nbsp;&nbsp;68192 | &nbsp;&nbsp;&nbsp;&nbsp; 527245 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4065095 |
| **Panama — 0.5%** | **Panama — 0.5%** | **Panama — 0.5%** |
| &nbsp;&nbsp;&nbsp;Copa Holdings SA, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9300 | &nbsp;&nbsp;&nbsp;&nbsp; 1029138 |
| **Philippines — 0.7%** | **Philippines — 0.7%** | **Philippines — 0.7%** |
| &nbsp;&nbsp;&nbsp;BDO Unibank, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;266202 | &nbsp;&nbsp;&nbsp;&nbsp; 651215 |
| &nbsp;&nbsp;&nbsp;International Container Terminal Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;95500 | &nbsp;&nbsp;&nbsp;&nbsp; 733451 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1384666 |
| **Poland — 0.8%** | **Poland — 0.8%** | **Poland — 0.8%** |
| &nbsp;&nbsp;&nbsp;Bank Polska Kasa Opieki SA | &nbsp;&nbsp;&nbsp;&nbsp;16057 | &nbsp;&nbsp;&nbsp;&nbsp; 877071 |
| &nbsp;&nbsp;&nbsp;Powszechny Zaklad Ubezpieczen SA | &nbsp;&nbsp;&nbsp;&nbsp;45657 | &nbsp;&nbsp;&nbsp;&nbsp; 767783 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1644854 |
| **Russia — 0.0%** | **Russia — 0.0%** | **Russia — 0.0%** |
| &nbsp;&nbsp;&nbsp;Gazprom PJSC ADR†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;430348 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;Magnitogorsk Iron & Steel Works PJSC†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;731991 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;Sberbank Of Russia PJSC†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;426432 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;Severstal PAO GDR†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;23993 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| **Saudi Arabia — 0.8%** | **Saudi Arabia — 0.8%** | **Saudi Arabia — 0.8%** |
| &nbsp;&nbsp;&nbsp;Arab National Bank | &nbsp;&nbsp;&nbsp;&nbsp;131254 | &nbsp;&nbsp;&nbsp;&nbsp; 760700 |
| &nbsp;&nbsp;&nbsp;United Electronics Co. | &nbsp;&nbsp;&nbsp;&nbsp;34761 | &nbsp;&nbsp;&nbsp;&nbsp; 831703 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1592403 |
| **Singapore — 0.3%** | **Singapore — 0.3%** | **Singapore — 0.3%** |
| &nbsp;&nbsp;&nbsp;Sea, Ltd. ADR† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4358 | &nbsp;&nbsp;&nbsp;&nbsp; 682681 |
| **South Africa — 0.7%** | **South Africa — 0.7%** | **South Africa — 0.7%** |
| &nbsp;&nbsp;&nbsp;Harmony Gold Mining Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;53641 | &nbsp;&nbsp;&nbsp;&nbsp; 712023 |
| &nbsp;&nbsp;&nbsp;Momentum Metropolitan Holdings | &nbsp;&nbsp;&nbsp;&nbsp;313079 | &nbsp;&nbsp;&nbsp;&nbsp; 592601 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1304624 |
| **South Korea — 12.3%** | **South Korea — 12.3%** | **South Korea — 12.3%** |
| &nbsp;&nbsp;&nbsp;DB Insurance Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8667 | &nbsp;&nbsp;&nbsp;&nbsp; 799954 |
| &nbsp;&nbsp;&nbsp;Hana Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17302 | &nbsp;&nbsp;&nbsp;&nbsp; 1065468 |
| &nbsp;&nbsp;&nbsp;HMM Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;43533 | &nbsp;&nbsp;&nbsp;&nbsp; 736118 |
| &nbsp;&nbsp;&nbsp;Hyundai Glovis Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6284 | &nbsp;&nbsp;&nbsp;&nbsp; 668366 |
| &nbsp;&nbsp;&nbsp;Hyundai Mobis Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4381 | &nbsp;&nbsp;&nbsp;&nbsp; 930346 |
| &nbsp;&nbsp;&nbsp;JB Financial Group Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;39166 | &nbsp;&nbsp;&nbsp;&nbsp; 652390 |
| &nbsp;&nbsp;&nbsp;Kangwon Land, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42121 | &nbsp;&nbsp;&nbsp;&nbsp; 567668 |
| &nbsp;&nbsp;&nbsp;Kia Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17387 | &nbsp;&nbsp;&nbsp;&nbsp; 1282586 |
| &nbsp;&nbsp;&nbsp;Korea Electric Power Corp. | &nbsp;&nbsp;&nbsp;&nbsp;34296 | &nbsp;&nbsp;&nbsp;&nbsp; 953354 |
| &nbsp;&nbsp;&nbsp;Korea Investment Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5970 | &nbsp;&nbsp;&nbsp;&nbsp; 615597 |
| &nbsp;&nbsp;&nbsp;Korea Shipbuilding & Offshore Engineering Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4661 | &nbsp;&nbsp;&nbsp;&nbsp; 1206590 |
| &nbsp;&nbsp;&nbsp;Krafton, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2916 | &nbsp;&nbsp;&nbsp;&nbsp; 690731 |
| &nbsp;&nbsp;&nbsp;LG Uplus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;55422 | &nbsp;&nbsp;&nbsp;&nbsp; 584672 |
| &nbsp;&nbsp;&nbsp;Samsung Electronics Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;146742 | &nbsp;&nbsp;&nbsp;&nbsp; 7555076 |
| &nbsp;&nbsp;&nbsp;Samsung Securities Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;12786 | &nbsp;&nbsp;&nbsp;&nbsp; 652761 |
| &nbsp;&nbsp;&nbsp;Shinhan Financial Group Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;23508 | &nbsp;&nbsp;&nbsp;&nbsp; 1152685 |
| &nbsp;&nbsp;&nbsp;SK Hynix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19190 | &nbsp;&nbsp;&nbsp;&nbsp; 3784587 |
| &nbsp;&nbsp;&nbsp;SOOP Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7570 | &nbsp;&nbsp;&nbsp;&nbsp; 433959 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;24332908 |
| **Taiwan — 16.5%** | **Taiwan — 16.5%** | **Taiwan — 16.5%** |
| &nbsp;&nbsp;&nbsp;Arcadyan Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp; 708183 |
| &nbsp;&nbsp;&nbsp;ASE Technology Holding Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;189000 | &nbsp;&nbsp;&nbsp;&nbsp; 965659 |
| &nbsp;&nbsp;&nbsp;Asustek Computer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp; 1020253 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Taiwan (continued)** | **Taiwan (continued)** |  |
| &nbsp;&nbsp;&nbsp;China Airlines, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;754000 | &nbsp;&nbsp;$520392 |
| &nbsp;&nbsp;&nbsp;Ennoconn Corp. | &nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp; 574118 |
| &nbsp;&nbsp;&nbsp;Eva Airways Corp. | &nbsp;&nbsp;&nbsp;&nbsp;397000 | &nbsp;&nbsp;&nbsp;&nbsp; 503441 |
| &nbsp;&nbsp;&nbsp;KGI Financial Holding Co., Ltd. | 1702000 | &nbsp;&nbsp;&nbsp;&nbsp; 866753 |
| &nbsp;&nbsp;&nbsp;Largan Precision Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp; 475417 |
| &nbsp;&nbsp;&nbsp;Novatek Microelectronics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;52000 | &nbsp;&nbsp;&nbsp;&nbsp; 827540 |
| &nbsp;&nbsp;&nbsp;Pixart Imaging, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;67000 | &nbsp;&nbsp;&nbsp;&nbsp; 439970 |
| &nbsp;&nbsp;&nbsp;Poya International Co, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;34340 | &nbsp;&nbsp;&nbsp;&nbsp; 532688 |
| &nbsp;&nbsp;&nbsp;Realtek Semiconductor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;81000 | &nbsp;&nbsp;&nbsp;&nbsp; 1560432 |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;592166 | &nbsp;&nbsp;&nbsp;&nbsp; 23014074 |
| &nbsp;&nbsp;&nbsp;Tripod Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;68000 | &nbsp;&nbsp;&nbsp;&nbsp; 637909 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;32646829 |
| **Thailand — 0.3%** | **Thailand — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;Krung Thai Bank PCL | &nbsp;&nbsp;&nbsp;&nbsp;828000 | &nbsp;&nbsp;&nbsp;&nbsp; 544737 |
| **Turkey — 1.6%** | **Turkey — 1.6%** |  |
| &nbsp;&nbsp;&nbsp;BIM Birlesik Magazalar AS | &nbsp;&nbsp;&nbsp;&nbsp;52112 | &nbsp;&nbsp;&nbsp;&nbsp; 681010 |
| &nbsp;&nbsp;&nbsp;Turk Hava Yollari AO | &nbsp;&nbsp;&nbsp;&nbsp;135310 | &nbsp;&nbsp;&nbsp;&nbsp; 959959 |
| &nbsp;&nbsp;&nbsp;Turkcell Iletisim Hizmetleri AS | &nbsp;&nbsp;&nbsp;&nbsp;200658 | &nbsp;&nbsp;&nbsp;&nbsp; 460930 |
| &nbsp;&nbsp;&nbsp;Turkiye Garanti Bankasi AS | &nbsp;&nbsp;&nbsp;&nbsp;315319 | &nbsp;&nbsp;&nbsp;&nbsp; 1109196 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3211095 |
| **United Arab Emirates — 3.1%** | **United Arab Emirates — 3.1%** |  |
| &nbsp;&nbsp;&nbsp;Abu Dhabi Commercial Bank PJSC | &nbsp;&nbsp;&nbsp;&nbsp;258039 | &nbsp;&nbsp;&nbsp;&nbsp; 1143702 |
| &nbsp;&nbsp;&nbsp;Abu Dhabi Islamic Bank PJSC | &nbsp;&nbsp;&nbsp;&nbsp;176551 | &nbsp;&nbsp;&nbsp;&nbsp; 1161289 |
| &nbsp;&nbsp;&nbsp;Dubai Islamic Bank PJSC | &nbsp;&nbsp;&nbsp;&nbsp;387292 | &nbsp;&nbsp;&nbsp;&nbsp; 1052306 |
| &nbsp;&nbsp;&nbsp;Emaar Properties PJSC | &nbsp;&nbsp;&nbsp;&nbsp;420054 | &nbsp;&nbsp;&nbsp;&nbsp; 1744007 |
| &nbsp;&nbsp;&nbsp;Emirates NBD Bank PJSC | &nbsp;&nbsp;&nbsp;&nbsp;144978 | &nbsp;&nbsp;&nbsp;&nbsp; 1055842 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6157146 |
| **United States — 0.4%** | **United States — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;Freshworks, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;58923 | &nbsp;&nbsp;&nbsp;&nbsp; 765410 |
| **TOTAL INVESTMENTS<br> (cost $149,147,548)(3)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91.9% | &nbsp;&nbsp;&nbsp;&nbsp;181456700 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 | &nbsp;&nbsp;&nbsp;&nbsp;16064080 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$197520780 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The SA JPMorgan Emerging Markets Portfolio has no right to demand registration of these securities. At July 31, 2025, the aggregate value of these securities was $5,370,627 representing 2.7% of net assets. |
| † | &nbsp;&nbsp;Non-income producing security |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Emerging Markets Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

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

(2) Denotes a restricted security that: (a) cannot be offered for public sale without first being registered, or being able to take advantage of an exemption from
registration, under the Securities Act of 1933, as amended (the "1933 Act"); (b) is subject to a contractual restriction on public sales; or (c) is otherwise subject to a restriction on sales by operation
of applicable law. Restricted securities are valued pursuant to Note 2. Certain restricted securities held by the Portfolio may not be sold except in exempt transactions or in a public offering registered
under the 1933 Act. The Portfolio has no right to demand registration of these securities. The risk of investing in certain restricted securities is greater than the risk of investing in the securities of widely held,
publicly traded companies. To the extent applicable, lack of a secondary market and resale restrictions may result in the inability of a Portfolio to sell a security at a fair price and may substantially delay the
sale of the security. In addition, certain restricted securities may exhibit greater price volatility than securities for which secondary markets exist. As of July 31, 2025, the Portfolio held the following restricted
securities:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition<br> Date** | **Shares or<br> Principal<br> Amount** | **Acquisition<br> Cost** | **Value** | **Value<br> Per Share** | **% of<br> Net Assets** |
| **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** |
| Gazprom PJSC ADR |  |  |  |  |  |  |
|  | 06/09/2021 | 374246 | $1432145 |  |  |  |
|  | 07/02/2021 | &nbsp;&nbsp;&nbsp;&nbsp;8678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33851 |  |  |  |
|  | 10/01/2021 | &nbsp;&nbsp;24410 | &nbsp;&nbsp;&nbsp;&nbsp;121716 |  |  |  |
|  | 02/17/2022 | &nbsp;&nbsp;23014 | &nbsp;&nbsp;&nbsp;&nbsp;100173 |  |  |  |
|  |  | 430348 | &nbsp;&nbsp;1687885 | $0 | $0.00 | 0.0% |
| Magnitogorsk Iron & Steel Works PJSC |  |  |  |  |  |  |
|  | 10/30/2020 | 139017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65335 |  |  |  |
|  | 02/10/2021 | 530190 | &nbsp;&nbsp;&nbsp;&nbsp;371377 |  |  |  |
|  | 07/02/2021 | &nbsp;&nbsp;16466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13394 |  |  |  |
|  | 10/01/2021 | &nbsp;&nbsp;46318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44362 |  |  |  |
|  |  | 731991 | &nbsp;&nbsp;&nbsp;&nbsp;494468 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00 | 0.0 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition<br> Date** | **Shares or<br> Principal<br> Amount** | **Acquisition<br> Cost** | **Value** | **Value<br> Per Share** | **% of<br> Net Assets** |
| **<u>Common Stocks (continued)</u>** | **<u>Common Stocks (continued)</u>** | **<u>Common Stocks (continued)</u>** | **<u>Common Stocks (continued)</u>** | **<u>Common Stocks (continued)</u>** | **<u>Common Stocks (continued)</u>** | **<u>Common Stocks (continued)</u>** |
| Sberbank Of Russia PJSC |  |  |  |  |  |  |
|  | 10/14/2020 | &nbsp;&nbsp;29436 | &nbsp;&nbsp;&nbsp;&nbsp;$78714 |  |  |  |
|  | 11/12/2020 | 225668 | &nbsp;&nbsp;&nbsp;&nbsp;743300 |  |  |  |
|  | 07/02/2021 | &nbsp;&nbsp;10140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42670 |  |  |  |
|  | 10/01/2021 | &nbsp;&nbsp;26632 | &nbsp;&nbsp;&nbsp;&nbsp;123362 |  |  |  |
|  | 11/24/2021 | 110652 | &nbsp;&nbsp;&nbsp;&nbsp;475845 |  |  |  |
|  | 02/17/2022 | &nbsp;&nbsp;23904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84946 |  |  |  |
|  |  | 426432 | &nbsp;&nbsp;1548837 | $0 | $0.00 | 0.0% |
| Severstal PAO GDR |  |  |  |  |  |  |
|  | 08/20/2019 | &nbsp;&nbsp;&nbsp;&nbsp;1308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18680 |  |  |  |
|  | 03/27/2020 | &nbsp;&nbsp;&nbsp;&nbsp;1319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13921 |  |  |  |
|  | 04/06/2020 | &nbsp;&nbsp;&nbsp;&nbsp;2134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24583 |  |  |  |
|  | 10/30/2020 | &nbsp;&nbsp;16522 | &nbsp;&nbsp;&nbsp;&nbsp;223848 |  |  |  |
|  | 07/02/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15231 |  |  |  |
|  | 10/01/2021 | &nbsp;&nbsp;&nbsp;&nbsp;1999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41360 |  |  |  |
|  |  | &nbsp;&nbsp;23993 | &nbsp;&nbsp;&nbsp;&nbsp;337623 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0.00 | 0.0 |
|  |  |  |  | $0 |  | 0.0%\*\* |

---

\*\* Amount represents the total value of the restricted securities divided by the net assets of the Portfolio and may not equal the sum of the individual percentages shown due to rounding.

(3) See Note 4 for cost of investments on a tax basis.

ADR—American Depositary Receipt <br> GDR—Global Depositary Receipt

#### Futures Contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number<br> of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Expiration<br> Month** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Basis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Value\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
| 243 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;IFSC Nifty 50 Index | &nbsp;&nbsp;August 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$12087995 | &nbsp;&nbsp;&nbsp;&nbsp;$12070539 | &nbsp;&nbsp;&nbsp;&nbsp;$(17456) |

---

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

---

| | |
|:---|:---|
| **Industry Allocation\*** |  |
| Banks | &nbsp;&nbsp;20.2% |
| Semiconductors | &nbsp;&nbsp;19.0 |
| Internet | &nbsp;&nbsp;11.8 |
| Insurance | &nbsp;&nbsp;&nbsp;&nbsp;5.2 |
| Computers | &nbsp;&nbsp;&nbsp;&nbsp;3.0 |
| Telecommunications | &nbsp;&nbsp;&nbsp;&nbsp;2.9 |
| Software | &nbsp;&nbsp;&nbsp;&nbsp;2.8 |
| Diversified Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;2.6 |
| Auto Manufacturers | &nbsp;&nbsp;&nbsp;&nbsp;2.5 |
| Airlines | &nbsp;&nbsp;&nbsp;&nbsp;1.9 |
| Food | &nbsp;&nbsp;&nbsp;&nbsp;1.8 |
| Retail | &nbsp;&nbsp;&nbsp;&nbsp;1.8 |
| Oil & Gas | &nbsp;&nbsp;&nbsp;&nbsp;1.7 |
| Electric | &nbsp;&nbsp;&nbsp;&nbsp;1.7 |
| Auto Parts & Equipment | &nbsp;&nbsp;&nbsp;&nbsp;1.6 |
| Transportation | &nbsp;&nbsp;&nbsp;&nbsp;1.5 |
| Mining | &nbsp;&nbsp;&nbsp;&nbsp;1.3 |
| Commercial Services | &nbsp;&nbsp;&nbsp;&nbsp;1.1 |
| Beverages | &nbsp;&nbsp;&nbsp;&nbsp;1.1 |
| Real Estate | &nbsp;&nbsp;&nbsp;&nbsp;0.9 |
| Home Furnishings | &nbsp;&nbsp;&nbsp;&nbsp;0.7 |
| Lodging | &nbsp;&nbsp;&nbsp;&nbsp;0.7 |
| Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;0.7 |
| Shipbuilding | &nbsp;&nbsp;&nbsp;&nbsp;0.6 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Emerging Markets Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | |
|:---|:---|
| **Industry Allocation\*(continued)** |  |
| Electronics | &nbsp;&nbsp;&nbsp;&nbsp;0.5% |
| Miscellaneous Manufacturing | &nbsp;&nbsp;&nbsp;&nbsp;0.5 |
| Water | &nbsp;&nbsp;&nbsp;&nbsp;0.4 |
| Engineering & Construction | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Machinery-Construction & Mining | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Leisure Time | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Electrical Components & Equipment | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
|  | &nbsp;&nbsp;91.9% |

---

\* Calculated as a percentage of net assets

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Russia | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$0 |
| &nbsp;&nbsp;&nbsp;Other Countries | &nbsp;&nbsp;&nbsp;&nbsp;181456700 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;181456700 |
| **Total Investments at Value** | &nbsp;&nbsp;$181456700 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$181456700 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;$17456 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$17456 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | &nbsp;&nbsp;Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

Level 3 investments in securities were not considered a significant portion of the Portfolio's net assets.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Equity-Income Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 98.1%** | **COMMON STOCKS — 98.1%** | **COMMON STOCKS — 98.1%** |
| **Aerospace/Defense — 3.5%** | **Aerospace/Defense — 3.5%** | **Aerospace/Defense — 3.5%** |
| &nbsp;&nbsp;&nbsp;General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47991 | &nbsp;&nbsp;$14954476 |
| &nbsp;&nbsp;&nbsp;RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87311 | &nbsp;&nbsp;&nbsp;&nbsp; 13757594 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;28712070 |
| **Agriculture — 2.2%** | **Agriculture — 2.2%** | **Agriculture — 2.2%** |
| &nbsp;&nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;113050 | &nbsp;&nbsp;&nbsp;&nbsp; 18545852 |
| **Apparel — 0.5%** | **Apparel — 0.5%** | **Apparel — 0.5%** |
| &nbsp;&nbsp;&nbsp;NIKE, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59449 | &nbsp;&nbsp;&nbsp;&nbsp; 4440246 |
| **Banks — 12.7%** | **Banks — 12.7%** | **Banks — 12.7%** |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;533666 | &nbsp;&nbsp;&nbsp;&nbsp; 25226392 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;136818 | &nbsp;&nbsp;&nbsp;&nbsp; 13880186 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40117 | &nbsp;&nbsp;&nbsp;&nbsp; 3758963 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16480 | &nbsp;&nbsp;&nbsp;&nbsp; 11924763 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93445 | &nbsp;&nbsp;&nbsp;&nbsp; 13312175 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35282 | &nbsp;&nbsp;&nbsp;&nbsp; 6713106 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;382853 | &nbsp;&nbsp;&nbsp;&nbsp; 30869437 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;105685022 |
| **Beverages — 1.7%** | **Beverages — 1.7%** | **Beverages — 1.7%** |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | &nbsp;&nbsp;&nbsp;&nbsp;126825 | &nbsp;&nbsp;&nbsp;&nbsp; 8610149 |
| &nbsp;&nbsp;&nbsp;PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42159 | &nbsp;&nbsp;&nbsp;&nbsp; 5814570 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14424719 |
| **Chemicals — 2.0%** | **Chemicals — 2.0%** | **Chemicals — 2.0%** |
| &nbsp;&nbsp;&nbsp;Air Products & Chemicals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57631 | &nbsp;&nbsp;&nbsp;&nbsp; 16590812 |
| **Computers — 2.8%** | **Computers — 2.8%** | **Computers — 2.8%** |
| &nbsp;&nbsp;&nbsp;Accenture PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10198 | &nbsp;&nbsp;&nbsp;&nbsp; 2723886 |
| &nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6864 | &nbsp;&nbsp;&nbsp;&nbsp; 1424760 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. | &nbsp;&nbsp;&nbsp;&nbsp;370150 | &nbsp;&nbsp;&nbsp;&nbsp; 7658403 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13884 | &nbsp;&nbsp;&nbsp;&nbsp; 3514735 |
| &nbsp;&nbsp;&nbsp;Seagate Technology Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52554 | &nbsp;&nbsp;&nbsp;&nbsp; 8251504 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;23573288 |
| **Cosmetics/Personal Care — 1.3%** | **Cosmetics/Personal Care — 1.3%** | **Cosmetics/Personal Care — 1.3%** |
| &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72952 | &nbsp;&nbsp;&nbsp;&nbsp; 10977087 |
| **Diversified Financial Services — 8.5%** | **Diversified Financial Services — 8.5%** | **Diversified Financial Services — 8.5%** |
| &nbsp;&nbsp;&nbsp;American Express Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48592 | &nbsp;&nbsp;&nbsp;&nbsp; 14544071 |
| &nbsp;&nbsp;&nbsp;Ares Management Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49069 | &nbsp;&nbsp;&nbsp;&nbsp; 9103772 |
| &nbsp;&nbsp;&nbsp;Blackrock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5576 | &nbsp;&nbsp;&nbsp;&nbsp; 6167112 |
| &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73720 | &nbsp;&nbsp;&nbsp;&nbsp; 15849800 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;193009 | &nbsp;&nbsp;&nbsp;&nbsp; 18862770 |
| &nbsp;&nbsp;&nbsp;CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20980 | &nbsp;&nbsp;&nbsp;&nbsp; 5838314 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;70365839 |
| **Electric — 4.6%** | **Electric — 4.6%** | **Electric — 4.6%** |
| &nbsp;&nbsp;&nbsp;CMS Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83718 | &nbsp;&nbsp;&nbsp;&nbsp; 6178388 |
| &nbsp;&nbsp;&nbsp;Dominion Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;167733 | &nbsp;&nbsp;&nbsp;&nbsp; 9803994 |
| &nbsp;&nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;121018 | &nbsp;&nbsp;&nbsp;&nbsp; 8599539 |
| &nbsp;&nbsp;&nbsp;Public Service Enterprise Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58831 | &nbsp;&nbsp;&nbsp;&nbsp; 5282436 |
| &nbsp;&nbsp;&nbsp;Xcel Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;107862 | &nbsp;&nbsp;&nbsp;&nbsp; 7921385 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;37785742 |
| **Electrical Components & Equipment — 2.2%** | **Electrical Components & Equipment — 2.2%** | **Electrical Components & Equipment — 2.2%** |
| &nbsp;&nbsp;&nbsp;Eaton Corp. PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47271 | &nbsp;&nbsp;&nbsp;&nbsp; 18186099 |
| **Electronics — 0.4%** | **Electronics — 0.4%** | **Electronics — 0.4%** |
| &nbsp;&nbsp;&nbsp;Honeywell International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12880 | &nbsp;&nbsp;&nbsp;&nbsp; 2863868 |
| **Environmental Control — 0.4%** | **Environmental Control — 0.4%** | **Environmental Control — 0.4%** |
| &nbsp;&nbsp;&nbsp;Republic Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13523 | &nbsp;&nbsp;&nbsp;&nbsp; 3119080 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Food — 1.2%** | **Food — 1.2%** | **Food — 1.2%** |
| &nbsp;&nbsp;&nbsp;Hershey Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15370 | &nbsp;&nbsp;$2860818 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;109899 | &nbsp;&nbsp;&nbsp;&nbsp; 7109366 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9970184 |
| **Healthcare-Products — 1.9%** | **Healthcare-Products — 1.9%** | **Healthcare-Products — 1.9%** |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80717 | &nbsp;&nbsp;&nbsp;&nbsp; 10185678 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57024 | &nbsp;&nbsp;&nbsp;&nbsp; 5145846 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;15331524 |
| **Healthcare-Services — 2.5%** | **Healthcare-Services — 2.5%** | **Healthcare-Services — 2.5%** |
| &nbsp;&nbsp;&nbsp;Cigna Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29435 | &nbsp;&nbsp;&nbsp;&nbsp; 7870330 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24093 | &nbsp;&nbsp;&nbsp;&nbsp; 4033409 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35874 | &nbsp;&nbsp;&nbsp;&nbsp; 8952716 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;20856455 |
| **Insurance — 3.4%** | **Insurance — 3.4%** | **Insurance — 3.4%** |
| &nbsp;&nbsp;&nbsp;Arthur J. Gallagher & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32723 | &nbsp;&nbsp;&nbsp;&nbsp; 9399682 |
| &nbsp;&nbsp;&nbsp;Chubb, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16144 | &nbsp;&nbsp;&nbsp;&nbsp; 4294950 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40200 | &nbsp;&nbsp;&nbsp;&nbsp; 9730008 |
| &nbsp;&nbsp;&nbsp;Travelers Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18039 | &nbsp;&nbsp;&nbsp;&nbsp; 4694469 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;28119109 |
| **Machinery-Diversified — 3.5%** | **Machinery-Diversified — 3.5%** | **Machinery-Diversified — 3.5%** |
| &nbsp;&nbsp;&nbsp;Deere & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31990 | &nbsp;&nbsp;&nbsp;&nbsp; 16774596 |
| &nbsp;&nbsp;&nbsp;Dover Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66581 | &nbsp;&nbsp;&nbsp;&nbsp; 12060483 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;28835079 |
| **Media — 1.5%** | **Media — 1.5%** | **Media — 1.5%** |
| &nbsp;&nbsp;&nbsp;Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;368897 | &nbsp;&nbsp;&nbsp;&nbsp; 12258447 |
| **Miscellaneous Manufacturing — 2.2%** | **Miscellaneous Manufacturing — 2.2%** | **Miscellaneous Manufacturing — 2.2%** |
| &nbsp;&nbsp;&nbsp;3M Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62275 | &nbsp;&nbsp;&nbsp;&nbsp; 9292675 |
| &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12382 | &nbsp;&nbsp;&nbsp;&nbsp; 9062386 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;18355061 |
| **Oil & Gas — 5.9%** | **Oil & Gas — 5.9%** | **Oil & Gas — 5.9%** |
| &nbsp;&nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;105865 | &nbsp;&nbsp;&nbsp;&nbsp; 16053369 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;177194 | &nbsp;&nbsp;&nbsp;&nbsp; 16893676 |
| &nbsp;&nbsp;&nbsp;EOG Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95521 | &nbsp;&nbsp;&nbsp;&nbsp; 11464430 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42857 | &nbsp;&nbsp;&nbsp;&nbsp; 4784555 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;49196030 |
| **Packaging & Containers — 0.5%** | **Packaging & Containers — 0.5%** | **Packaging & Containers — 0.5%** |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20814 | &nbsp;&nbsp;&nbsp;&nbsp; 4032713 |
| **Pharmaceuticals — 8.0%** | **Pharmaceuticals — 8.0%** | **Pharmaceuticals — 8.0%** |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52470 | &nbsp;&nbsp;&nbsp;&nbsp; 9917879 |
| &nbsp;&nbsp;&nbsp;Becton Dickinson & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33964 | &nbsp;&nbsp;&nbsp;&nbsp; 6054083 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp;203941 | &nbsp;&nbsp;&nbsp;&nbsp; 8832685 |
| &nbsp;&nbsp;&nbsp;Cencora, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18640 | &nbsp;&nbsp;&nbsp;&nbsp; 5332531 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;168894 | &nbsp;&nbsp;&nbsp;&nbsp; 10488317 |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5884 | &nbsp;&nbsp;&nbsp;&nbsp; 4354572 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83175 | &nbsp;&nbsp;&nbsp;&nbsp; 13702250 |
| &nbsp;&nbsp;&nbsp;Merck & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;101721 | &nbsp;&nbsp;&nbsp;&nbsp; 7946445 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;66628762 |
| **Private Equity — 1.1%** | **Private Equity — 1.1%** | **Private Equity — 1.1%** |
| &nbsp;&nbsp;&nbsp;Blackstone, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52523 | &nbsp;&nbsp;&nbsp;&nbsp; 9084378 |
| **REITS — 3.0%** | **REITS — 3.0%** | **REITS — 3.0%** |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20280 | &nbsp;&nbsp;&nbsp;&nbsp; 4226149 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18474 | &nbsp;&nbsp;&nbsp;&nbsp; 3441337 |
| &nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26014 | &nbsp;&nbsp;&nbsp;&nbsp; 4589910 |
| &nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53764 | &nbsp;&nbsp;&nbsp;&nbsp; 5740920 |
| &nbsp;&nbsp;&nbsp;Ventas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;105432 | &nbsp;&nbsp;&nbsp;&nbsp; 7082922 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;25081238 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Equity-Income Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Retail — 7.9%** | **Retail — 7.9%** | **Retail — 7.9%** |
| &nbsp;&nbsp;&nbsp;Home Depot, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32497 | &nbsp;&nbsp;$11942972 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60989 | &nbsp;&nbsp;&nbsp;&nbsp; 13635311 |
| &nbsp;&nbsp;&nbsp;McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45799 | &nbsp;&nbsp;&nbsp;&nbsp; 13742906 |
| &nbsp;&nbsp;&nbsp;TJX Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85285 | &nbsp;&nbsp;&nbsp;&nbsp; 10620541 |
| &nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;106273 | &nbsp;&nbsp;&nbsp;&nbsp; 10412629 |
| &nbsp;&nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34815 | &nbsp;&nbsp;&nbsp;&nbsp; 5018582 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;65372941 |
| **Semiconductors — 4.3%** | **Semiconductors — 4.3%** | **Semiconductors — 4.3%** |
| &nbsp;&nbsp;&nbsp;Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53026 | &nbsp;&nbsp;&nbsp;&nbsp; 11911230 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35458 | &nbsp;&nbsp;&nbsp;&nbsp; 3362837 |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41328 | &nbsp;&nbsp;&nbsp;&nbsp; 8834687 |
| &nbsp;&nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62866 | &nbsp;&nbsp;&nbsp;&nbsp; 11382518 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;35491272 |
| **Software — 3.2%** | **Software — 3.2%** | **Software — 3.2%** |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;112147 | &nbsp;&nbsp;&nbsp;&nbsp; 8905593 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33716 | &nbsp;&nbsp;&nbsp;&nbsp; 17987486 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;26893079 |
| **Telecommunications — 1.8%** | **Telecommunications — 1.8%** | **Telecommunications — 1.8%** |
| &nbsp;&nbsp;&nbsp;Corning, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;136227 | &nbsp;&nbsp;&nbsp;&nbsp; 8614996 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;141312 | &nbsp;&nbsp;&nbsp;&nbsp; 6042501 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14657497 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Transportation — 3.4%** | **Transportation — 3.4%** |  |
| &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55054 | &nbsp;&nbsp;$15305012 |
| &nbsp;&nbsp;&nbsp;Union Pacific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56655 | &nbsp;&nbsp;&nbsp;&nbsp; 12575710 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;27880722 |
| **Total Long-Term Investment Securities<br> (cost $611,981,154)** |  | &nbsp;&nbsp;&nbsp;&nbsp;813314215 |
| **SHORT-TERM INVESTMENTS — 1.8%** | **SHORT-TERM INVESTMENTS — 1.8%** |  |
| **Unaffiliated Investment Companies — 1.8%** | **Unaffiliated Investment Companies — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(1)<br> (cost $15,304,307) | 15304307 | &nbsp;&nbsp;&nbsp;&nbsp; 15304307 |
| **TOTAL INVESTMENTS<br> (cost $627,285,461)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.9% | &nbsp;&nbsp;&nbsp;&nbsp;828618522 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616540 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$829235062 |

---

(1) The rate shown is the 7-day yield as of July 31, 2025.

(2) See Note 4 for cost of investments on a tax basis.

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$813314215 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$813314215 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;15304307 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;15304307 |
| **Total Investments at Value** | &nbsp;&nbsp;$828618522 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$828618522 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Large Cap Core Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.0%** | **COMMON STOCKS — 99.0%** | **COMMON STOCKS — 99.0%** |
| **Aerospace/Defense — 2.7%** | **Aerospace/Defense — 2.7%** | **Aerospace/Defense — 2.7%** |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28974 | &nbsp;&nbsp;$5208656 |
| &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | &nbsp;&nbsp;&nbsp;&nbsp;18605 | &nbsp;&nbsp;&nbsp;&nbsp; 10727829 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;15936485 |
| **Auto Manufacturers — 1.2%** | **Auto Manufacturers — 1.2%** | **Auto Manufacturers — 1.2%** |
| &nbsp;&nbsp;&nbsp;Tesla, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;22672 | &nbsp;&nbsp;&nbsp;&nbsp; 6989097 |
| **Banks — 4.9%** | **Banks — 4.9%** | **Banks — 4.9%** |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;41318 | &nbsp;&nbsp;&nbsp;&nbsp; 5886162 |
| &nbsp;&nbsp;&nbsp;US Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;94815 | &nbsp;&nbsp;&nbsp;&nbsp; 4262883 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;231454 | &nbsp;&nbsp;&nbsp;&nbsp; 18662136 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;28811181 |
| **Biotechnology — 1.4%** | **Biotechnology — 1.4%** | **Biotechnology — 1.4%** |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6633 | &nbsp;&nbsp;&nbsp;&nbsp; 3618036 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9741 | &nbsp;&nbsp;&nbsp;&nbsp; 4450371 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8068407 |
| **Building Materials — 3.7%** | **Building Materials — 3.7%** | **Building Materials — 3.7%** |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | &nbsp;&nbsp;&nbsp;&nbsp;106369 | &nbsp;&nbsp;&nbsp;&nbsp; 7299041 |
| &nbsp;&nbsp;&nbsp;Trane Technologies PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8722 | &nbsp;&nbsp;&nbsp;&nbsp; 3820934 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | &nbsp;&nbsp;&nbsp;&nbsp;39280 | &nbsp;&nbsp;&nbsp;&nbsp; 10789037 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;21909012 |
| **Commercial Services — 0.8%** | **Commercial Services — 0.8%** | **Commercial Services — 0.8%** |
| &nbsp;&nbsp;&nbsp;United Rentals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5176 | &nbsp;&nbsp;&nbsp;&nbsp; 4570097 |
| **Computers — 5.7%** | **Computers — 5.7%** | **Computers — 5.7%** |
| &nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;160925 | &nbsp;&nbsp;&nbsp;&nbsp; 33403202 |
| **Diversified Financial Services — 6.6%** | **Diversified Financial Services — 6.6%** | **Diversified Financial Services — 6.6%** |
| &nbsp;&nbsp;&nbsp;American Express Co. | &nbsp;&nbsp;&nbsp;&nbsp;45198 | &nbsp;&nbsp;&nbsp;&nbsp; 13528213 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16583 | &nbsp;&nbsp;&nbsp;&nbsp; 8593145 |
| &nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;29623 | &nbsp;&nbsp;&nbsp;&nbsp; 16780541 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;38901899 |
| **Electric — 3.6%** | **Electric — 3.6%** | **Electric — 3.6%** |
| &nbsp;&nbsp;&nbsp;Entergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;35923 | &nbsp;&nbsp;&nbsp;&nbsp; 3248517 |
| &nbsp;&nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;121725 | &nbsp;&nbsp;&nbsp;&nbsp; 8649778 |
| &nbsp;&nbsp;&nbsp;PG&E Corp. | &nbsp;&nbsp;&nbsp;&nbsp;125993 | &nbsp;&nbsp;&nbsp;&nbsp; 1766422 |
| &nbsp;&nbsp;&nbsp;Southern Co. | &nbsp;&nbsp;&nbsp;&nbsp;77171 | &nbsp;&nbsp;&nbsp;&nbsp; 7291116 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;20955833 |
| **Electrical Components & Equipment — 1.6%** | **Electrical Components & Equipment — 1.6%** | **Electrical Components & Equipment — 1.6%** |
| &nbsp;&nbsp;&nbsp;Eaton Corp. PLC | &nbsp;&nbsp;&nbsp;&nbsp;23939 | &nbsp;&nbsp;&nbsp;&nbsp; 9209812 |
| **Food — 1.2%** | **Food — 1.2%** | **Food — 1.2%** |
| &nbsp;&nbsp;&nbsp;Mondelez International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;107733 | &nbsp;&nbsp;&nbsp;&nbsp; 6969248 |
| **Healthcare-Products — 4.1%** | **Healthcare-Products — 4.1%** | **Healthcare-Products — 4.1%** |
| &nbsp;&nbsp;&nbsp;Edwards Lifesciences Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;90058 | &nbsp;&nbsp;&nbsp;&nbsp; 7142500 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp;82868 | &nbsp;&nbsp;&nbsp;&nbsp; 7478008 |
| &nbsp;&nbsp;&nbsp;Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23614 | &nbsp;&nbsp;&nbsp;&nbsp; 9273926 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;23894434 |
| **Insurance — 2.8%** | **Insurance — 2.8%** | **Insurance — 2.8%** |
| &nbsp;&nbsp;&nbsp;Arthur J. Gallagher & Co. | &nbsp;&nbsp;&nbsp;&nbsp;34963 | &nbsp;&nbsp;&nbsp;&nbsp; 10043122 |
| &nbsp;&nbsp;&nbsp;Travelers Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24185 | &nbsp;&nbsp;&nbsp;&nbsp; 6293904 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;16337026 |
| **Internet — 12.0%** | **Internet — 12.0%** | **Internet — 12.0%** |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;101941 | &nbsp;&nbsp;&nbsp;&nbsp; 19562478 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;117937 | &nbsp;&nbsp;&nbsp;&nbsp; 27610231 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;29730 | &nbsp;&nbsp;&nbsp;&nbsp; 22994371 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;70167080 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Lodging — 0.8%** | **Lodging — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;Marriott International, Inc., Class A | &nbsp;&nbsp; 18408 | &nbsp;&nbsp;$4856583 |
| **Machinery-Diversified — 1.2%** | **Machinery-Diversified — 1.2%** |  |
| &nbsp;&nbsp;&nbsp;Deere & Co. | &nbsp;&nbsp; 13448 | &nbsp;&nbsp;&nbsp;&nbsp; 7051728 |
| **Media — 1.9%** | **Media — 1.9%** |  |
| &nbsp;&nbsp;&nbsp;Walt Disney Co. | &nbsp;&nbsp; 91715 | &nbsp;&nbsp;&nbsp;&nbsp; 10924174 |
| **Oil & Gas — 1.8%** | **Oil & Gas — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp; 95104 | &nbsp;&nbsp;&nbsp;&nbsp; 10617411 |
| **Oil & Gas Services — 2.6%** | **Oil & Gas Services — 2.6%** |  |
| &nbsp;&nbsp;&nbsp;Baker Hughes Co. | &nbsp;&nbsp; 344062 | &nbsp;&nbsp;&nbsp;&nbsp; 15499993 |
| **Pharmaceuticals — 2.4%** | **Pharmaceuticals — 2.4%** |  |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. | &nbsp;&nbsp; 48846 | &nbsp;&nbsp;&nbsp;&nbsp; 9232871 |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp; 6281 | &nbsp;&nbsp;&nbsp;&nbsp; 4648380 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;13881251 |
| **Private Equity — 1.4%** | **Private Equity — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;Blackstone, Inc. | &nbsp;&nbsp; 46628 | &nbsp;&nbsp;&nbsp;&nbsp; 8064779 |
| **REITS — 0.6%** | **REITS — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp; 32417 | &nbsp;&nbsp;&nbsp;&nbsp; 3461487 |
| **Retail — 6.8%** | **Retail — 6.8%** |  |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Inc.† | &nbsp;&nbsp; 107028 | &nbsp;&nbsp;&nbsp;&nbsp; 4589361 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. | &nbsp;&nbsp; 50094 | &nbsp;&nbsp;&nbsp;&nbsp; 11199516 |
| &nbsp;&nbsp;&nbsp;McDonald's Corp. | &nbsp;&nbsp; 40264 | &nbsp;&nbsp;&nbsp;&nbsp; 12082018 |
| &nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp; 125845 | &nbsp;&nbsp;&nbsp;&nbsp; 12330293 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;40201188 |
| **Semiconductors — 14.0%** | **Semiconductors — 14.0%** |  |
| &nbsp;&nbsp;&nbsp;ASML Holding NV | &nbsp;&nbsp; 4609 | &nbsp;&nbsp;&nbsp;&nbsp; 3201918 |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp; 60435 | &nbsp;&nbsp;&nbsp;&nbsp; 17749759 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp; 280211 | &nbsp;&nbsp;&nbsp;&nbsp; 49841131 |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors NV | &nbsp;&nbsp; 53718 | &nbsp;&nbsp;&nbsp;&nbsp; 11483297 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;82276105 |
| **Software — 12.3%** | **Software — 12.3%** |  |
| &nbsp;&nbsp;&nbsp;Intuit, Inc. | &nbsp;&nbsp; 9706 | &nbsp;&nbsp;&nbsp;&nbsp; 7620472 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp; 100152 | &nbsp;&nbsp;&nbsp;&nbsp; 53431092 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp; 43740 | &nbsp;&nbsp;&nbsp;&nbsp; 11099900 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;72151464 |
| **Transportation — 0.9%** | **Transportation — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;CSX Corp. | &nbsp;&nbsp; 144563 | &nbsp;&nbsp;&nbsp;&nbsp; 5137769 |
| **Total Long-Term Investment Securities<br> (cost $467,807,687)** |  | &nbsp;&nbsp;&nbsp;&nbsp;580246745 |
| **REPURCHASE AGREEMENTS — 0.9%** | **REPURCHASE AGREEMENTS — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;Agreement with Fixed Income Clearing Corp., bearing interest at 1.36% dated 07/31/2025, to be repurchased 08/01/2025 in the amount of $5,219,374 and collateralized by $5,392,200 of United States Treasury Bonds, bearing interest at 4.75% due 05/15/2055 and having an approximate value of $5,323,690<br> (cost $5,219,177) | $5219177 | &nbsp;&nbsp;&nbsp;&nbsp; 5219177 |
| **TOTAL INVESTMENTS<br> (cost $473,026,864)(1)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.9% | &nbsp;&nbsp;&nbsp;&nbsp;585465922 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;774440 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$586240362 |

---

† Non-income producing security

(1) See Note 4 for cost of investments on a tax basis.

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Large Cap Core Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$580246745 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$580246745 |
| Repurchase Agreements | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;5219177 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5219177 |
| **Total Investments at Value** | &nbsp;&nbsp;$580246745 | &nbsp;&nbsp;$5219177 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$585465922 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES — 30.3%** | **CORPORATE BONDS & NOTES — 30.3%** | **CORPORATE BONDS & NOTES — 30.3%** |
| **Aerospace/Defense — 0.9%** | **Aerospace/Defense — 0.9%** | **Aerospace/Defense — 0.9%** |
| &nbsp;&nbsp;&nbsp;Airbus SE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 04/10/2047\* | $150000 | &nbsp;&nbsp;$120729 |
| &nbsp;&nbsp;&nbsp;BAE Systems PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.90%, 02/15/2031\* | &nbsp;&nbsp; 479000 | &nbsp;&nbsp;&nbsp;&nbsp; 415468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 09/15/2050\* | &nbsp;&nbsp; 231000 | &nbsp;&nbsp;&nbsp;&nbsp; 150702 |
| &nbsp;&nbsp;&nbsp;Boeing Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20%, 02/04/2026 | &nbsp;&nbsp; 3216000 | &nbsp;&nbsp;&nbsp;&nbsp; 3173336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 02/01/2026 | &nbsp;&nbsp; 278000 | &nbsp;&nbsp;&nbsp;&nbsp; 275281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 03/01/2028 | &nbsp;&nbsp; 429000 | &nbsp;&nbsp;&nbsp;&nbsp; 414633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.04%, 05/01/2027 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 170985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 05/01/2030 | &nbsp;&nbsp; 1317000 | &nbsp;&nbsp;&nbsp;&nbsp; 1337903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.71%, 05/01/2040 | &nbsp;&nbsp; 1195000 | &nbsp;&nbsp;&nbsp;&nbsp; 1187161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.81%, 05/01/2050 | &nbsp;&nbsp; 1698000 | &nbsp;&nbsp;&nbsp;&nbsp; 1638721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.39%, 05/01/2031 | &nbsp;&nbsp; 235000 | &nbsp;&nbsp;&nbsp;&nbsp; 252824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.53%, 05/01/2034 | &nbsp;&nbsp; 2716000 | &nbsp;&nbsp;&nbsp;&nbsp; 2956117 |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 04/27/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 07/31/2033 | &nbsp;&nbsp; 445000 | &nbsp;&nbsp;&nbsp;&nbsp; 456725 |
| &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 04/15/2045 | &nbsp;&nbsp; 51000 | &nbsp;&nbsp;&nbsp;&nbsp; 40111 |
| &nbsp;&nbsp;&nbsp;RTX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 11/01/2046 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 171058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 05/15/2045 | &nbsp;&nbsp; 296000 | &nbsp;&nbsp;&nbsp;&nbsp; 241459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.35%, 04/15/2047 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 41605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 06/01/2042 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 198703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 02/27/2033 | &nbsp;&nbsp; 362000 | &nbsp;&nbsp;&nbsp;&nbsp; 369628 |
| &nbsp;&nbsp;&nbsp;TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 01/15/2029 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp;&nbsp;&nbsp; 2835371 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16644017 |
| **Agriculture — 0.8%** | **Agriculture — 0.8%** | **Agriculture — 0.8%** |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.39%, 08/15/2037 | &nbsp;&nbsp; 495000 | &nbsp;&nbsp;&nbsp;&nbsp; 442062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.54%, 08/15/2047 | &nbsp;&nbsp; 409000 | &nbsp;&nbsp;&nbsp;&nbsp; 331563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.74%, 03/16/2032 | &nbsp;&nbsp; 3067000 | &nbsp;&nbsp;&nbsp;&nbsp; 3036881 |
| &nbsp;&nbsp;&nbsp;BAT International Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 03/16/2028 | &nbsp;&nbsp; 2960000 | &nbsp;&nbsp;&nbsp;&nbsp; 2950404 |
| &nbsp;&nbsp;&nbsp;Bunge, Ltd. Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 05/14/2031 | &nbsp;&nbsp; 805000 | &nbsp;&nbsp;&nbsp;&nbsp; 726187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 09/17/2034 | &nbsp;&nbsp; 479000 | &nbsp;&nbsp;&nbsp;&nbsp; 462354 |
| &nbsp;&nbsp;&nbsp;Japan Tobacco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 06/15/2035\* | &nbsp;&nbsp; 3078000 | &nbsp;&nbsp;&nbsp;&nbsp; 3200890 |
| &nbsp;&nbsp;&nbsp;JBS USA Holding LUX SARL/JBS USA Food Co./JBS LUX Co. SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 04/20/2035\* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 180572 |
| &nbsp;&nbsp;&nbsp;Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 11/17/2027 | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp;&nbsp;&nbsp; 1167599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 02/15/2030 | &nbsp;&nbsp; 2052000 | &nbsp;&nbsp;&nbsp;&nbsp; 2101121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 11/17/2029 | &nbsp;&nbsp; 495000 | &nbsp;&nbsp;&nbsp;&nbsp; 516548 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15116181 |
| **Airlines — 0.2%** | **Airlines — 0.2%** | **Airlines — 0.2%** |
| &nbsp;&nbsp;&nbsp;Air Canada Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 07/15/2031\* | &nbsp;&nbsp; 137303 | &nbsp;&nbsp;&nbsp;&nbsp; 128150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 07/15/2031\* | &nbsp;&nbsp; 193763 | &nbsp;&nbsp;&nbsp;&nbsp; 180566 |
| &nbsp;&nbsp;&nbsp;American Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 04/15/2030 | &nbsp;&nbsp; 92137 | &nbsp;&nbsp;&nbsp;&nbsp; 87579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 04/01/2028 | &nbsp;&nbsp; 161216 | &nbsp;&nbsp;&nbsp;&nbsp; 158209 |
| &nbsp;&nbsp;&nbsp;British Airways Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 06/15/2034\* | &nbsp;&nbsp; 295799 | &nbsp;&nbsp;&nbsp;&nbsp; 274597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 03/20/2033\* | &nbsp;&nbsp; 170575 | &nbsp;&nbsp;&nbsp;&nbsp; 164767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 03/20/2033\* | &nbsp;&nbsp; 230246 | &nbsp;&nbsp;&nbsp;&nbsp; 220140 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Airlines (continued)** | **Airlines (continued)** | **Airlines (continued)** |
| &nbsp;&nbsp;&nbsp;Delta Air Lines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 12/10/2029 | $121979 | &nbsp;&nbsp;$114985 |
| &nbsp;&nbsp;&nbsp;United Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 11/01/2033 | &nbsp;&nbsp; 451106 | &nbsp;&nbsp;&nbsp;&nbsp; 403465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 04/07/2030 | &nbsp;&nbsp; 380410 | &nbsp;&nbsp;&nbsp;&nbsp; 354431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 09/01/2031 | &nbsp;&nbsp; 255789 | &nbsp;&nbsp;&nbsp;&nbsp; 241087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 07/07/2027 | &nbsp;&nbsp; 82257 | &nbsp;&nbsp;&nbsp;&nbsp; 81422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 09/01/2031 | &nbsp;&nbsp; 530626 | &nbsp;&nbsp;&nbsp;&nbsp; 492453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 10/11/2027 | &nbsp;&nbsp; 170283 | &nbsp;&nbsp;&nbsp;&nbsp; 169588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 02/25/2033 | &nbsp;&nbsp; 368247 | &nbsp;&nbsp;&nbsp;&nbsp; 351198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 02/25/2033 | &nbsp;&nbsp; 329380 | &nbsp;&nbsp;&nbsp;&nbsp; 308617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 09/01/2027 | &nbsp;&nbsp; 134876 | &nbsp;&nbsp;&nbsp;&nbsp; 133356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 08/15/2038 | &nbsp;&nbsp; 333076 | &nbsp;&nbsp;&nbsp;&nbsp; 337212 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4201822 |
| **Auto Manufacturers — 0.1%** | **Auto Manufacturers — 0.1%** | **Auto Manufacturers — 0.1%** |
| &nbsp;&nbsp;&nbsp;Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 06/15/2026\* | &nbsp;&nbsp; 380000 | &nbsp;&nbsp;&nbsp;&nbsp; 369607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.80%, 01/10/2028\* | &nbsp;&nbsp; 415000 | &nbsp;&nbsp;&nbsp;&nbsp; 388109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 10/15/2027\* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 247270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 02/10/2027\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 09/26/2029\* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 347095 |
| &nbsp;&nbsp;&nbsp;Stellantis Finance US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.69%, 09/15/2031\* | &nbsp;&nbsp; 398000 | &nbsp;&nbsp;&nbsp;&nbsp; 335607 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1882646 |
| **Banks — 8.5%** | **Banks — 8.5%** | **Banks — 8.5%** |
| &nbsp;&nbsp;&nbsp;ABN AMRO Bank NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.47%, 12/13/2029\* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 466532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.52%, 12/03/2035\* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 304146 |
| &nbsp;&nbsp;&nbsp;AIB Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.32%, 05/15/2031\* | &nbsp;&nbsp; 920000 | &nbsp;&nbsp;&nbsp;&nbsp; 935743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.61%, 09/13/2029\* | &nbsp;&nbsp; 495000 | &nbsp;&nbsp;&nbsp;&nbsp; 522404 |
| &nbsp;&nbsp;&nbsp;Australia & New Zealand Banking Group, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40%, 05/19/2026\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199453 |
| &nbsp;&nbsp;&nbsp;Banco Nacional de Panama |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 08/11/2030\* | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 510874 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.72%, 09/14/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 193466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.59%, 08/08/2028 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1030481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.61%, 11/07/2028 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 637494 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.90%, 07/23/2031 | &nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp;&nbsp; 254805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.57%, 10/20/2032 | &nbsp;&nbsp; 3990000 | &nbsp;&nbsp;&nbsp;&nbsp; 3516385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.71%, 04/24/2028 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 986574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 04/27/2028 | &nbsp;&nbsp; 705000 | &nbsp;&nbsp;&nbsp;&nbsp; 703516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.29%, 04/25/2034 | &nbsp;&nbsp; 5455000 | &nbsp;&nbsp;&nbsp;&nbsp; 5557171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.47%, 01/23/2035 | &nbsp;&nbsp; 2490000 | &nbsp;&nbsp;&nbsp;&nbsp; 2555386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.51%, 01/24/2036 | &nbsp;&nbsp; 980000 | &nbsp;&nbsp;&nbsp;&nbsp; 1004228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 03/15/2028(1) | &nbsp;&nbsp; 2572000 | &nbsp;&nbsp;&nbsp;&nbsp; 2582255 |
| &nbsp;&nbsp;&nbsp;Bank of Ireland Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.03%, 09/30/2027\* | &nbsp;&nbsp; 430000 | &nbsp;&nbsp;&nbsp;&nbsp; 416778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 03/20/2030\* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 283208 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.47%, 10/25/2034 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 440622 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 02/01/2030 | &nbsp;&nbsp; 187000 | &nbsp;&nbsp;&nbsp;&nbsp; 189674 |
| &nbsp;&nbsp;&nbsp;Banque Federative du Credit Mutuel SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.79%, 07/13/2028\* | &nbsp;&nbsp; 820000 | &nbsp;&nbsp;&nbsp;&nbsp; 849919 |
| &nbsp;&nbsp;&nbsp;Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.89%, 11/24/2032 | &nbsp;&nbsp; 2322000 | &nbsp;&nbsp;&nbsp;&nbsp; 2056231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.94%, 09/10/2030 | &nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 211484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.97%, 05/16/2029 | &nbsp;&nbsp; 1576000 | &nbsp;&nbsp;&nbsp;&nbsp; 1590672 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.37%, 02/25/2031 | $305000 | &nbsp;&nbsp;$311587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.79%, 02/25/2036 | &nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp;&nbsp; 296348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.22%, 05/09/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 212645 |
| &nbsp;&nbsp;&nbsp;BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 01/20/2033\* | &nbsp;&nbsp; 315000 | &nbsp;&nbsp;&nbsp;&nbsp; 281685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.18%, 01/09/2030\* | &nbsp;&nbsp; 910000 | &nbsp;&nbsp;&nbsp;&nbsp; 926912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.28%, 11/19/2030\* | &nbsp;&nbsp; 1095000 | &nbsp;&nbsp;&nbsp;&nbsp; 1115483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 05/20/2030\* | &nbsp;&nbsp; 851000 | &nbsp;&nbsp;&nbsp;&nbsp; 873919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.79%, 01/13/2033\* | &nbsp;&nbsp; 565000 | &nbsp;&nbsp;&nbsp;&nbsp; 586280 |
| &nbsp;&nbsp;&nbsp;BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.28%, 01/20/2032\* | &nbsp;&nbsp; 410000 | &nbsp;&nbsp;&nbsp;&nbsp; 355576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.39%, 05/28/2031\* | &nbsp;&nbsp; 765000 | &nbsp;&nbsp;&nbsp;&nbsp; 779117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.72%, 01/18/2030\* | &nbsp;&nbsp; 259000 | &nbsp;&nbsp;&nbsp;&nbsp; 266246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 01/14/2031\* | &nbsp;&nbsp; 355000 | &nbsp;&nbsp;&nbsp;&nbsp; 367877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.94%, 05/30/2035\* | &nbsp;&nbsp; 715000 | &nbsp;&nbsp;&nbsp;&nbsp; 733533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.98%, 01/18/2027\* | &nbsp;&nbsp; 285000 | &nbsp;&nbsp;&nbsp;&nbsp; 286537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.03%, 05/28/2036\* | &nbsp;&nbsp; 950000 | &nbsp;&nbsp;&nbsp;&nbsp; 980462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.29%, 01/14/2036\* | &nbsp;&nbsp; 465000 | &nbsp;&nbsp;&nbsp;&nbsp; 488960 |
| &nbsp;&nbsp;&nbsp;CaixaBank SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.58%, 07/03/2036\* | &nbsp;&nbsp; 2255000 | &nbsp;&nbsp;&nbsp;&nbsp; 2267734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.84%, 09/13/2034\* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 280335 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.56%, 05/01/2032 | &nbsp;&nbsp; 910000 | &nbsp;&nbsp;&nbsp;&nbsp; 805665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.06%, 01/25/2033 | &nbsp;&nbsp; 342000 | &nbsp;&nbsp;&nbsp;&nbsp; 306341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.52%, 10/27/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.67%, 07/24/2028 | &nbsp;&nbsp; 1380000 | &nbsp;&nbsp;&nbsp;&nbsp; 1357259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.89%, 01/10/2028 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 791815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 09/29/2027 | &nbsp;&nbsp; 53000 | &nbsp;&nbsp;&nbsp;&nbsp; 52851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.54%, 09/19/2030 | &nbsp;&nbsp; 648000 | &nbsp;&nbsp;&nbsp;&nbsp; 645370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 06/11/2035 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 714236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 08/15/2030(1) | &nbsp;&nbsp; 1475000 | &nbsp;&nbsp;&nbsp;&nbsp; 1487537 |
| &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 07/21/2026 | &nbsp;&nbsp; 485000 | &nbsp;&nbsp;&nbsp;&nbsp; 480819 |
| &nbsp;&nbsp;&nbsp;Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.22%, 05/27/2031\* | &nbsp;&nbsp; 530000 | &nbsp;&nbsp;&nbsp;&nbsp; 538659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.23%, 01/09/2029\* | &nbsp;&nbsp; 745000 | &nbsp;&nbsp;&nbsp;&nbsp; 754792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.34%, 01/10/2030\* | &nbsp;&nbsp; 665000 | &nbsp;&nbsp;&nbsp;&nbsp; 679159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.86%, 01/09/2036\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 413663 |
| &nbsp;&nbsp;&nbsp;Danske Bank A/S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.61%, 10/02/2030\* | &nbsp;&nbsp; 303000 | &nbsp;&nbsp;&nbsp;&nbsp; 302076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.02%, 03/04/2031\* | &nbsp;&nbsp; 465000 | &nbsp;&nbsp;&nbsp;&nbsp; 469543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.71%, 03/01/2030\* | &nbsp;&nbsp; 580000 | &nbsp;&nbsp;&nbsp;&nbsp; 600229 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.31%, 11/16/2027 | &nbsp;&nbsp; 2867000 | &nbsp;&nbsp;&nbsp;&nbsp; 2782151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 09/11/2030 | &nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 262175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 05/09/2031 | &nbsp;&nbsp; 710000 | &nbsp;&nbsp;&nbsp;&nbsp; 721819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.37%, 01/10/2029 | &nbsp;&nbsp; 435000 | &nbsp;&nbsp;&nbsp;&nbsp; 442246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 09/11/2035 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp; 269387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.41%, 05/10/2029 | &nbsp;&nbsp; 440000 | &nbsp;&nbsp;&nbsp;&nbsp; 453809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.72%, 01/18/2029 | &nbsp;&nbsp; 2978000 | &nbsp;&nbsp;&nbsp;&nbsp; 3118681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.82%, 11/20/2029 | &nbsp;&nbsp; 390000 | &nbsp;&nbsp;&nbsp;&nbsp; 415108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.15%, 07/13/2027 | &nbsp;&nbsp; 545000 | &nbsp;&nbsp;&nbsp;&nbsp; 557098 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank AG/New York NY |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 08/04/2031 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 375621 |
| &nbsp;&nbsp;&nbsp;DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.61%, 03/30/2028\* | &nbsp;&nbsp; 675000 | &nbsp;&nbsp;&nbsp;&nbsp; 643447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 11/05/2030\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 404740 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.95%, 10/21/2027 | &nbsp;&nbsp; 506000 | &nbsp;&nbsp;&nbsp;&nbsp; 490005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.99%, 01/27/2032 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1084517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 07/21/2032 | &nbsp;&nbsp; 365000 | &nbsp;&nbsp;&nbsp;&nbsp; 318849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.64%, 02/24/2028 | &nbsp;&nbsp; 599000 | &nbsp;&nbsp;&nbsp;&nbsp; 581373 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.69%, 06/05/2028 | $1308000 | &nbsp;&nbsp;$1288519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.41%, 04/23/2039 | &nbsp;&nbsp; 530000 | &nbsp;&nbsp;&nbsp;&nbsp; 477692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.69%, 10/23/2030 | &nbsp;&nbsp; 630000 | &nbsp;&nbsp;&nbsp;&nbsp; 629516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 07/23/2030 | &nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 264183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.22%, 04/23/2031 | &nbsp;&nbsp; 373000 | &nbsp;&nbsp;&nbsp;&nbsp; 381405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.33%, 07/23/2035 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 555618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.48%, 10/24/2029 | &nbsp;&nbsp; 530000 | &nbsp;&nbsp;&nbsp;&nbsp; 560317 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.01%, 09/22/2028 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 568511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.21%, 08/17/2029 | &nbsp;&nbsp; 415000 | &nbsp;&nbsp;&nbsp;&nbsp; 386361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.36%, 08/18/2031 | &nbsp;&nbsp; 580000 | &nbsp;&nbsp;&nbsp;&nbsp; 516079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 03/09/2026(1) | &nbsp;&nbsp; 1271000 | &nbsp;&nbsp;&nbsp;&nbsp; 1257242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 03/09/2031(1) | &nbsp;&nbsp; 3212000 | &nbsp;&nbsp;&nbsp;&nbsp; 2950973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.29%, 11/19/2030 | &nbsp;&nbsp; 415000 | &nbsp;&nbsp;&nbsp;&nbsp; 423706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.33%, 03/09/2044 | &nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 245575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.11%, 11/03/2033 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 694060 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.27%, 01/15/2031 | &nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp; 316462 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55%, 11/08/2032 | &nbsp;&nbsp; 3529000 | &nbsp;&nbsp;&nbsp;&nbsp; 3102592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.96%, 05/13/2031 | &nbsp;&nbsp; 1708000 | &nbsp;&nbsp;&nbsp;&nbsp; 1582372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.51%, 01/23/2029 | &nbsp;&nbsp; 3928000 | &nbsp;&nbsp;&nbsp;&nbsp; 3842368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.01%, 04/23/2029 | &nbsp;&nbsp; 5046000 | &nbsp;&nbsp;&nbsp;&nbsp; 4989998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.77%, 04/22/2035 | &nbsp;&nbsp; 1763000 | &nbsp;&nbsp;&nbsp;&nbsp; 1849002 |
| &nbsp;&nbsp;&nbsp;KBC Group NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.93%, 10/16/2030\* | &nbsp;&nbsp; 360000 | &nbsp;&nbsp;&nbsp;&nbsp; 362624 |
| &nbsp;&nbsp;&nbsp;KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.79%, 06/01/2033 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 107768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.12%, 04/04/2031 | &nbsp;&nbsp; 470000 | &nbsp;&nbsp;&nbsp;&nbsp; 475048 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.63%, 05/11/2027 | &nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 449228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 01/11/2027 | &nbsp;&nbsp; 1106000 | &nbsp;&nbsp;&nbsp;&nbsp; 1094179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.58%, 12/10/2025 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.46%, 01/05/2028 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 480190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.68%, 01/05/2035 | &nbsp;&nbsp; 515000 | &nbsp;&nbsp;&nbsp;&nbsp; 528720 |
| &nbsp;&nbsp;&nbsp;Macquarie Bank, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.05%, 03/03/2036\* | &nbsp;&nbsp; 340000 | &nbsp;&nbsp;&nbsp;&nbsp; 301571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 03/08/2027\*(1) | &nbsp;&nbsp; 4363000 | &nbsp;&nbsp;&nbsp;&nbsp; 4406032 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.05%, 07/17/2030 | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp;&nbsp;&nbsp; 4252910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.16%, 04/24/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204200 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.87%, 09/13/2030 | &nbsp;&nbsp; 337000 | &nbsp;&nbsp;&nbsp;&nbsp; 314433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.71%, 07/08/2031 | &nbsp;&nbsp; 605000 | &nbsp;&nbsp;&nbsp;&nbsp; 603707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.32%, 07/08/2036 | &nbsp;&nbsp; 1265000 | &nbsp;&nbsp;&nbsp;&nbsp; 1271619 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.51%, 10/20/2032 | &nbsp;&nbsp; 3649000 | &nbsp;&nbsp;&nbsp;&nbsp; 3194300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 01/22/2031 | &nbsp;&nbsp; 272000 | &nbsp;&nbsp;&nbsp;&nbsp; 250668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 07/27/2026 | &nbsp;&nbsp; 73000 | &nbsp;&nbsp;&nbsp;&nbsp; 72086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.22%, 04/22/2042 | &nbsp;&nbsp; 705000 | &nbsp;&nbsp;&nbsp;&nbsp; 535220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.77%, 01/24/2029 | &nbsp;&nbsp; 278000 | &nbsp;&nbsp;&nbsp;&nbsp; 273371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 01/27/2045 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 234297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.35%, 09/08/2026 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 74805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.43%, 01/23/2030 | &nbsp;&nbsp; 457000 | &nbsp;&nbsp;&nbsp;&nbsp; 455577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.46%, 04/22/2039 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 277435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.04%, 07/19/2030 | &nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 213620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.16%, 04/20/2029 | &nbsp;&nbsp; 765000 | &nbsp;&nbsp;&nbsp;&nbsp; 777334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.32%, 07/19/2035 | &nbsp;&nbsp; 285000 | &nbsp;&nbsp;&nbsp;&nbsp; 288587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.42%, 07/21/2034 | &nbsp;&nbsp; 1632000 | &nbsp;&nbsp;&nbsp;&nbsp; 1671348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 07/20/2029 | &nbsp;&nbsp; 688000 | &nbsp;&nbsp;&nbsp;&nbsp; 706198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.47%, 01/18/2035 | &nbsp;&nbsp; 264000 | &nbsp;&nbsp;&nbsp;&nbsp; 270434 |
| &nbsp;&nbsp;&nbsp;NatWest Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 05/08/2030 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 248242 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.89%, 05/18/2029 | $400000 | &nbsp;&nbsp;$403410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.08%, 01/27/2030 | &nbsp;&nbsp; 355000 | &nbsp;&nbsp;&nbsp;&nbsp; 359805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.12%, 05/23/2031 | &nbsp;&nbsp; 405000 | &nbsp;&nbsp;&nbsp;&nbsp; 411128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.78%, 03/01/2035 | &nbsp;&nbsp; 495000 | &nbsp;&nbsp;&nbsp;&nbsp; 513828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.02%, 03/02/2034 | &nbsp;&nbsp; 416000 | &nbsp;&nbsp;&nbsp;&nbsp; 439819 |
| &nbsp;&nbsp;&nbsp;NatWest Markets PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.41%, 05/17/2029\* | &nbsp;&nbsp; 815000 | &nbsp;&nbsp;&nbsp;&nbsp; 839766 |
| &nbsp;&nbsp;&nbsp;Northern Trust Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 05/08/2032 | &nbsp;&nbsp; 105000 | &nbsp;&nbsp;&nbsp;&nbsp; 101677 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.81%, 10/21/2032 | &nbsp;&nbsp; 390000 | &nbsp;&nbsp;&nbsp;&nbsp; 389709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 05/13/2031 | &nbsp;&nbsp; 520000 | &nbsp;&nbsp;&nbsp;&nbsp; 525703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.07%, 01/24/2034 | &nbsp;&nbsp; 606000 | &nbsp;&nbsp;&nbsp;&nbsp; 607848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.37%, 07/21/2036 | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 90933 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 10/18/2030 | &nbsp;&nbsp; 625000 | &nbsp;&nbsp;&nbsp;&nbsp; 625071 |
| &nbsp;&nbsp;&nbsp;Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.17%, 01/09/2030 | &nbsp;&nbsp; 570000 | &nbsp;&nbsp;&nbsp;&nbsp; 593850 |
| &nbsp;&nbsp;&nbsp;Santander UK Group Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.67%, 06/14/2027 | &nbsp;&nbsp; 465000 | &nbsp;&nbsp;&nbsp;&nbsp; 452712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.86%, 09/11/2030 | &nbsp;&nbsp; 410000 | &nbsp;&nbsp;&nbsp;&nbsp; 410437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.69%, 04/15/2031 | &nbsp;&nbsp; 680000 | &nbsp;&nbsp;&nbsp;&nbsp; 703755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.53%, 01/10/2029 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 832968 |
| &nbsp;&nbsp;&nbsp;Skandinaviska Enskilda Banken AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 03/05/2029\* | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 668010 |
| &nbsp;&nbsp;&nbsp;Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.79%, 06/09/2027\* | &nbsp;&nbsp; 420000 | &nbsp;&nbsp;&nbsp;&nbsp; 409307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.89%, 06/09/2032\* | &nbsp;&nbsp; 980000 | &nbsp;&nbsp;&nbsp;&nbsp; 867766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 01/22/2030\* | &nbsp;&nbsp; 352000 | &nbsp;&nbsp;&nbsp;&nbsp; 326265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.34%, 01/21/2033\* | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 623448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 02/19/2027\* | &nbsp;&nbsp; 466000 | &nbsp;&nbsp;&nbsp;&nbsp; 469488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.51%, 05/22/2031\* | &nbsp;&nbsp; 1734000 | &nbsp;&nbsp;&nbsp;&nbsp; 1768503 |
| &nbsp;&nbsp;&nbsp;Standard Chartered PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.46%, 01/14/2027\* | &nbsp;&nbsp; 430000 | &nbsp;&nbsp;&nbsp;&nbsp; 423575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.69%, 05/14/2028\* | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 244127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.77%, 11/16/2028\* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 277236 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13%, 07/08/2030 | &nbsp;&nbsp; 4943000 | &nbsp;&nbsp;&nbsp;&nbsp; 4395597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.04%, 07/16/2029 | &nbsp;&nbsp; 1142000 | &nbsp;&nbsp;&nbsp;&nbsp; 1079839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.24%, 04/15/2030 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 307800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.71%, 01/13/2030 | &nbsp;&nbsp; 330000 | &nbsp;&nbsp;&nbsp;&nbsp; 344850 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 01/30/2032 | &nbsp;&nbsp; 445000 | &nbsp;&nbsp;&nbsp;&nbsp; 456629 |
| &nbsp;&nbsp;&nbsp;Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.71%, 01/24/2035 | &nbsp;&nbsp; 308000 | &nbsp;&nbsp;&nbsp;&nbsp; 318693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.16%, 10/30/2029 | &nbsp;&nbsp; 680000 | &nbsp;&nbsp;&nbsp;&nbsp; 734016 |
| &nbsp;&nbsp;&nbsp;UBS AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 02/15/2028 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 268559 |
| &nbsp;&nbsp;&nbsp;UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.87%, 01/12/2029\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 245980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 09/24/2025\* | &nbsp;&nbsp; 1627000 | &nbsp;&nbsp;&nbsp;&nbsp; 1625440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 02/10/2031\*(1) | &nbsp;&nbsp; 3708000 | &nbsp;&nbsp;&nbsp;&nbsp; 3323311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.30%, 09/22/2034\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 214493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.54%, 08/12/2033\* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 283121 |
| &nbsp;&nbsp;&nbsp;UniCredit SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.98%, 06/03/2027\* | &nbsp;&nbsp; 330000 | &nbsp;&nbsp;&nbsp;&nbsp; 322848 |
| &nbsp;&nbsp;&nbsp;US Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.08%, 05/15/2031 | &nbsp;&nbsp; 510000 | &nbsp;&nbsp;&nbsp;&nbsp; 519149 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.57%, 02/11/2031 | &nbsp;&nbsp; 6334000 | &nbsp;&nbsp;&nbsp;&nbsp; 5807382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 01/23/2030 | &nbsp;&nbsp; 410000 | &nbsp;&nbsp;&nbsp;&nbsp; 418733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.21%, 12/03/2035 | &nbsp;&nbsp; 1280000 | &nbsp;&nbsp;&nbsp;&nbsp; 1283471 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.39%, 04/24/2034 | $536000 | &nbsp;&nbsp;$548413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.56%, 07/25/2034 | &nbsp;&nbsp; 485000 | &nbsp;&nbsp;&nbsp;&nbsp; 500479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.57%, 07/25/2029 | &nbsp;&nbsp; 899000 | &nbsp;&nbsp;&nbsp;&nbsp; 925688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.61%, 04/23/2036 | &nbsp;&nbsp; 1835000 | &nbsp;&nbsp;&nbsp;&nbsp; 1889965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.30%, 10/23/2029 | &nbsp;&nbsp; 1090000 | &nbsp;&nbsp;&nbsp;&nbsp; 1146977 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155747182 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 02/01/2036 | &nbsp;&nbsp; 498000 | &nbsp;&nbsp;&nbsp;&nbsp; 482890 |
| &nbsp;&nbsp;&nbsp;Constellation Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 05/01/2030 | &nbsp;&nbsp; 754000 | &nbsp;&nbsp;&nbsp;&nbsp; 758028 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 07/15/2046 | &nbsp;&nbsp; 166000 | &nbsp;&nbsp;&nbsp;&nbsp; 131612 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1372530 |
| **Biotechnology — 0.2%** | **Biotechnology — 0.2%** | **Biotechnology — 0.2%** |
| &nbsp;&nbsp;&nbsp;Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 03/02/2043 | &nbsp;&nbsp; 146000 | &nbsp;&nbsp;&nbsp;&nbsp; 144221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 03/02/2053 | &nbsp;&nbsp; 1045000 | &nbsp;&nbsp;&nbsp;&nbsp; 1010499 |
| &nbsp;&nbsp;&nbsp;Baxalta, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 06/23/2045 | &nbsp;&nbsp; 14000 | &nbsp;&nbsp;&nbsp;&nbsp; 13015 |
| &nbsp;&nbsp;&nbsp;Biogen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 05/15/2035 | &nbsp;&nbsp; 360000 | &nbsp;&nbsp;&nbsp;&nbsp; 369286 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 10/01/2040 | &nbsp;&nbsp; 1240000 | &nbsp;&nbsp;&nbsp;&nbsp; 883685 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 09/15/2030 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 781464 |
| &nbsp;&nbsp;&nbsp;Royalty Pharma PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15%, 09/02/2031 | &nbsp;&nbsp; 287000 | &nbsp;&nbsp;&nbsp;&nbsp; 245885 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3448055 |
| **Building Materials — 0.3%** | **Building Materials — 0.3%** | **Building Materials — 0.3%** |
| &nbsp;&nbsp;&nbsp;CRH America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 05/18/2045\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 184301 |
| &nbsp;&nbsp;&nbsp;Masco Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 10/01/2030 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 148917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 08/15/2032 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 265687 |
| &nbsp;&nbsp;&nbsp;Standard Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 07/15/2030\* | &nbsp;&nbsp; 3257000 | &nbsp;&nbsp;&nbsp;&nbsp; 3083529 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 06/01/2030 | &nbsp;&nbsp; 1177000 | &nbsp;&nbsp;&nbsp;&nbsp; 1120186 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4802620 |
| **Chemicals — 0.1%** | **Chemicals — 0.1%** | **Chemicals — 0.1%** |
| &nbsp;&nbsp;&nbsp;DowDuPont, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.42%, 11/15/2048 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 499779 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.32%, 11/15/2038 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp; 184671 |
| &nbsp;&nbsp;&nbsp;EIDP, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 05/15/2032 | &nbsp;&nbsp; 690000 | &nbsp;&nbsp;&nbsp;&nbsp; 701802 |
| &nbsp;&nbsp;&nbsp;International Flavors & Fragrances, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 11/01/2030\* | &nbsp;&nbsp; 1254000 | &nbsp;&nbsp;&nbsp;&nbsp; 1106411 |
| &nbsp;&nbsp;&nbsp;Nutrien, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 04/01/2029 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 74095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 04/01/2049 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 97297 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2664055 |
| **Commercial Services — 0.8%** | **Commercial Services — 0.8%** | **Commercial Services — 0.8%** |
| &nbsp;&nbsp;&nbsp;Ashtead Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 05/30/2033\* | &nbsp;&nbsp; 2790000 | &nbsp;&nbsp;&nbsp;&nbsp; 2819871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 04/15/2034\* | &nbsp;&nbsp; 718000 | &nbsp;&nbsp;&nbsp;&nbsp; 737235 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| &nbsp;&nbsp;&nbsp;Element Fleet Management Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.04%, 03/25/2030\* | $720000 | &nbsp;&nbsp;$726195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.27%, 06/26/2026\* | &nbsp;&nbsp; 355000 | &nbsp;&nbsp;&nbsp;&nbsp; 359521 |
| &nbsp;&nbsp;&nbsp;ERAC USA Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 02/15/2045\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 171955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 10/15/2037\* | &nbsp;&nbsp; 719000 | &nbsp;&nbsp;&nbsp;&nbsp; 824833 |
| &nbsp;&nbsp;&nbsp;Ford Foundation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.82%, 06/01/2070 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 96125 |
| &nbsp;&nbsp;&nbsp;Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 05/15/2030 | &nbsp;&nbsp; 2887000 | &nbsp;&nbsp;&nbsp;&nbsp; 2634284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 11/15/2031 | &nbsp;&nbsp; 1048000 | &nbsp;&nbsp;&nbsp;&nbsp; 920047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 08/15/2029 | &nbsp;&nbsp; 169000 | &nbsp;&nbsp;&nbsp;&nbsp; 171339 |
| &nbsp;&nbsp;&nbsp;Pepperdine University |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 12/01/2059 | &nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp;&nbsp; 182496 |
| &nbsp;&nbsp;&nbsp;Quanta Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.35%, 01/15/2032 | &nbsp;&nbsp; 560000 | &nbsp;&nbsp;&nbsp;&nbsp; 483211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 10/01/2030 | &nbsp;&nbsp; 710000 | &nbsp;&nbsp;&nbsp;&nbsp; 652652 |
| &nbsp;&nbsp;&nbsp;Toll Road Investors Partnership II LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zero Coupon, 02/15/2026\* | &nbsp;&nbsp; 939000 | &nbsp;&nbsp;&nbsp;&nbsp; 906295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zero Coupon, 02/15/2029\* | &nbsp;&nbsp; 2723000 | &nbsp;&nbsp;&nbsp;&nbsp; 2066442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zero Coupon, 02/15/2031\* | &nbsp;&nbsp; 939000 | &nbsp;&nbsp;&nbsp;&nbsp; 633791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zero Coupon, 02/15/2043\* | &nbsp;&nbsp; 1484091 | &nbsp;&nbsp;&nbsp;&nbsp; 492555 |
| &nbsp;&nbsp;&nbsp;University of Southern California |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.23%, 10/01/2120 | &nbsp;&nbsp; 280000 | &nbsp;&nbsp;&nbsp;&nbsp; 158636 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 04/01/2033 | &nbsp;&nbsp; 395000 | &nbsp;&nbsp;&nbsp;&nbsp; 413468 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15450951 |
| **Computers — 0.4%** | **Computers — 0.4%** | **Computers — 0.4%** |
| &nbsp;&nbsp;&nbsp;Accenture Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 10/04/2034 | &nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 251605 |
| &nbsp;&nbsp;&nbsp;Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 08/05/2051 | &nbsp;&nbsp; 890000 | &nbsp;&nbsp;&nbsp;&nbsp; 554882 |
| &nbsp;&nbsp;&nbsp;CGI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 09/14/2031 | &nbsp;&nbsp; 776000 | &nbsp;&nbsp;&nbsp;&nbsp; 672638 |
| &nbsp;&nbsp;&nbsp;Dell International LLC/EMC Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 10/01/2029 | &nbsp;&nbsp; 3767000 | &nbsp;&nbsp;&nbsp;&nbsp; 3866381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 04/01/2032 | &nbsp;&nbsp; 1015000 | &nbsp;&nbsp;&nbsp;&nbsp; 1035598 |
| &nbsp;&nbsp;&nbsp;Leidos, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 02/15/2031 | &nbsp;&nbsp; 235000 | &nbsp;&nbsp;&nbsp;&nbsp; 205775 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6586879 |
| **Cosmetics/Personal Care — 0.1%** | **Cosmetics/Personal Care — 0.1%** | **Cosmetics/Personal Care — 0.1%** |
| &nbsp;&nbsp;&nbsp;Haleon US Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 03/24/2032 | &nbsp;&nbsp; 1762000 | &nbsp;&nbsp;&nbsp;&nbsp; 1648127 |
| **Diversified Financial Services — 2.4%** | **Diversified Financial Services — 2.4%** | **Diversified Financial Services — 2.4%** |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC /AerCap Global Aviation Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10%, 01/15/2027 | &nbsp;&nbsp; 610000 | &nbsp;&nbsp;&nbsp;&nbsp; 621580 |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC/AerCap Global Aviation Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 10/29/2026 | &nbsp;&nbsp; 835000 | &nbsp;&nbsp;&nbsp;&nbsp; 812873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/29/2028 | &nbsp;&nbsp; 1255000 | &nbsp;&nbsp;&nbsp;&nbsp; 1194362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 01/30/2032 | &nbsp;&nbsp; 1477000 | &nbsp;&nbsp;&nbsp;&nbsp; 1336233 |
| &nbsp;&nbsp;&nbsp;Aircastle, Ltd./Aircastle Ireland DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 03/15/2030\* | &nbsp;&nbsp; 370000 | &nbsp;&nbsp;&nbsp;&nbsp; 373649 |
| &nbsp;&nbsp;&nbsp;American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92%, 07/20/2033 | &nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp; 245790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.44%, 01/30/2036 | &nbsp;&nbsp; 445000 | &nbsp;&nbsp;&nbsp;&nbsp; 453772 |
| &nbsp;&nbsp;&nbsp;Aviation Capital Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 04/10/2030\* | &nbsp;&nbsp; 355000 | &nbsp;&nbsp;&nbsp;&nbsp; 357524 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| &nbsp;&nbsp;&nbsp;Avolon Holdings Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13%, 02/21/2026\* | $1762000 | &nbsp;&nbsp;$1734338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.53%, 11/18/2027\* | &nbsp;&nbsp; 3265000 | &nbsp;&nbsp;&nbsp;&nbsp; 3111237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 02/21/2028\* | &nbsp;&nbsp; 257000 | &nbsp;&nbsp;&nbsp;&nbsp; 243768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 04/15/2026\* | &nbsp;&nbsp; 1194000 | &nbsp;&nbsp;&nbsp;&nbsp; 1189011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 05/01/2026\* | &nbsp;&nbsp; 614000 | &nbsp;&nbsp;&nbsp;&nbsp; 610805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 01/15/2028\* | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 125562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 01/15/2030\* | &nbsp;&nbsp; 195000 | &nbsp;&nbsp;&nbsp;&nbsp; 196479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 01/15/2026\* | &nbsp;&nbsp; 1270000 | &nbsp;&nbsp;&nbsp;&nbsp; 1272781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 03/01/2029\* | &nbsp;&nbsp; 414000 | &nbsp;&nbsp;&nbsp;&nbsp; 424875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 11/15/2029\* | &nbsp;&nbsp; 235000 | &nbsp;&nbsp;&nbsp;&nbsp; 241917 |
| &nbsp;&nbsp;&nbsp;Blackstone Holdings Finance Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 07/15/2045\* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 92180 |
| &nbsp;&nbsp;&nbsp;Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.62%, 11/02/2032 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 415066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.82%, 02/01/2034 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;&nbsp;&nbsp; 1344701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.05%, 02/01/2035 | &nbsp;&nbsp; 1689000 | &nbsp;&nbsp;&nbsp;&nbsp; 1759620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 06/08/2034 | &nbsp;&nbsp; 2029000 | &nbsp;&nbsp;&nbsp;&nbsp; 2165780 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 06/01/2027(1) | &nbsp;&nbsp; 3313000 | &nbsp;&nbsp;&nbsp;&nbsp; 3289550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 05/19/2034 | &nbsp;&nbsp; 2505000 | &nbsp;&nbsp;&nbsp;&nbsp; 2655140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.14%, 08/24/2034 | &nbsp;&nbsp; 1643000 | &nbsp;&nbsp;&nbsp;&nbsp; 1773059 |
| &nbsp;&nbsp;&nbsp;Discover Financial Services |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.70%, 11/29/2032 | &nbsp;&nbsp; 4075000 | &nbsp;&nbsp;&nbsp;&nbsp; 4453865 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 06/15/2031 | &nbsp;&nbsp; 1023000 | &nbsp;&nbsp;&nbsp;&nbsp; 1056543 |
| &nbsp;&nbsp;&nbsp;Jane Street Group/JSG Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 05/01/2033\* | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp;&nbsp;&nbsp; 3172481 |
| &nbsp;&nbsp;&nbsp;LPL Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 03/15/2029\* | &nbsp;&nbsp; 2138000 | &nbsp;&nbsp;&nbsp;&nbsp; 2072661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 05/20/2034 | &nbsp;&nbsp; 1976000 | &nbsp;&nbsp;&nbsp;&nbsp; 2041877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 11/17/2028 | &nbsp;&nbsp; 689000 | &nbsp;&nbsp;&nbsp;&nbsp; 731590 |
| &nbsp;&nbsp;&nbsp;LSEGA Financing PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 04/06/2028\* | &nbsp;&nbsp; 925000 | &nbsp;&nbsp;&nbsp;&nbsp; 867646 |
| &nbsp;&nbsp;&nbsp;Macquarie Airfinance Holdings, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 03/17/2030\* | &nbsp;&nbsp; 285000 | &nbsp;&nbsp;&nbsp;&nbsp; 284760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 03/27/2028\* | &nbsp;&nbsp; 595000 | &nbsp;&nbsp;&nbsp;&nbsp; 600551 |
| &nbsp;&nbsp;&nbsp;Nasdaq, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 02/15/2034 | &nbsp;&nbsp; 162000 | &nbsp;&nbsp;&nbsp;&nbsp; 168076 |
| &nbsp;&nbsp;&nbsp;Nomura Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.68%, 07/16/2030 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 316292 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43807994 |
| **Electric — 2.4%** | **Electric — 2.4%** | **Electric — 2.4%** |
| &nbsp;&nbsp;&nbsp;AEP Transmission Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 09/15/2049 | &nbsp;&nbsp; 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 63191 |
| &nbsp;&nbsp;&nbsp;AES Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 03/15/2032 | &nbsp;&nbsp; 510000 | &nbsp;&nbsp;&nbsp;&nbsp; 517688 |
| &nbsp;&nbsp;&nbsp;Alabama Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 03/01/2045 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 38680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10%, 01/15/2042 | &nbsp;&nbsp; 63000 | &nbsp;&nbsp;&nbsp;&nbsp; 52198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 02/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 104991 |
| &nbsp;&nbsp;&nbsp;Ameren Illinois Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 03/15/2050 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 267977 |
| &nbsp;&nbsp;&nbsp;American Electric Power Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 11/01/2032 | &nbsp;&nbsp; 1608000 | &nbsp;&nbsp;&nbsp;&nbsp; 1702838 |
| &nbsp;&nbsp;&nbsp;Baltimore Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 09/15/2049 | &nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 154884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 06/01/2054 | &nbsp;&nbsp; 330000 | &nbsp;&nbsp;&nbsp;&nbsp; 327181 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 04/01/2036 | &nbsp;&nbsp; 176000 | &nbsp;&nbsp;&nbsp;&nbsp; 188020 |
| &nbsp;&nbsp;&nbsp;Brazos Securitization LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.41%, 09/01/2052\* | &nbsp;&nbsp; 1837000 | &nbsp;&nbsp;&nbsp;&nbsp; 1744511 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp;&nbsp;Calpine Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 03/01/2031\* | $2005000 | &nbsp;&nbsp;$1885017 |
| &nbsp;&nbsp;&nbsp;Cleveland Electric Illuminating Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 04/01/2028\* | &nbsp;&nbsp; 286000 | &nbsp;&nbsp;&nbsp;&nbsp; 276802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 12/15/2036 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 103027 |
| &nbsp;&nbsp;&nbsp;CMS Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 02/15/2027 | &nbsp;&nbsp; 116000 | &nbsp;&nbsp;&nbsp;&nbsp; 113069 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 06/15/2046 | &nbsp;&nbsp; 121000 | &nbsp;&nbsp;&nbsp;&nbsp; 91122 |
| &nbsp;&nbsp;&nbsp;Constellation Energy Generation LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 10/01/2041 | &nbsp;&nbsp; 950000 | &nbsp;&nbsp;&nbsp;&nbsp; 951587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 03/01/2033 | &nbsp;&nbsp; 109000 | &nbsp;&nbsp;&nbsp;&nbsp; 115093 |
| &nbsp;&nbsp;&nbsp;Consumers 2023 Securitization Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 03/01/2028 | &nbsp;&nbsp; 840737 | &nbsp;&nbsp;&nbsp;&nbsp; 846487 |
| &nbsp;&nbsp;&nbsp;Delmarva Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 05/15/2045 | &nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp; 154000 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 03/15/2045 | &nbsp;&nbsp; 111000 | &nbsp;&nbsp;&nbsp;&nbsp; 85766 |
| &nbsp;&nbsp;&nbsp;DTE Electric Securitization Funding II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.09%, 09/01/2038 | &nbsp;&nbsp; 380000 | &nbsp;&nbsp;&nbsp;&nbsp; 400104 |
| &nbsp;&nbsp;&nbsp;Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 09/01/2046 | &nbsp;&nbsp; 705000 | &nbsp;&nbsp;&nbsp;&nbsp; 521733 |
| &nbsp;&nbsp;&nbsp;Duke Energy Indiana LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.12%, 10/15/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 105926 |
| &nbsp;&nbsp;&nbsp;Duke Energy Progress LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 08/15/2051 | &nbsp;&nbsp; 320000 | &nbsp;&nbsp;&nbsp;&nbsp; 197691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 12/01/2044 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp; 146906 |
| &nbsp;&nbsp;&nbsp;Duquesne Light Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.53%, 10/01/2030\* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 307740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.62%, 08/01/2027\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 386997 |
| &nbsp;&nbsp;&nbsp;Electricite de France SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 04/22/2034\* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 391549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.90%, 05/23/2053\* | &nbsp;&nbsp; 983000 | &nbsp;&nbsp;&nbsp;&nbsp; 1053926 |
| &nbsp;&nbsp;&nbsp;Emera US Finance LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 06/15/2046 | &nbsp;&nbsp; 320000 | &nbsp;&nbsp;&nbsp;&nbsp; 264238 |
| &nbsp;&nbsp;&nbsp;Empire District Bondco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.94%, 01/01/2035 | &nbsp;&nbsp; 802097 | &nbsp;&nbsp;&nbsp;&nbsp; 806126 |
| &nbsp;&nbsp;&nbsp;Enel Finance International NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 04/06/2028\* | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp;&nbsp;&nbsp; 3115501 |
| &nbsp;&nbsp;&nbsp;Entergy Arkansas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 06/15/2051 | &nbsp;&nbsp; 590000 | &nbsp;&nbsp;&nbsp;&nbsp; 346435 |
| &nbsp;&nbsp;&nbsp;Entergy Louisiana LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 03/15/2051 | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 149578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.05%, 06/01/2031 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 133468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 03/15/2055 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 149604 |
| &nbsp;&nbsp;&nbsp;Entergy Mississippi LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 06/01/2054 | &nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 209686 |
| &nbsp;&nbsp;&nbsp;Evergy Metro, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 03/15/2048 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 79196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 04/01/2034 | &nbsp;&nbsp; 211000 | &nbsp;&nbsp;&nbsp;&nbsp; 215615 |
| &nbsp;&nbsp;&nbsp;Evergy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 09/15/2029 | &nbsp;&nbsp; 239000 | &nbsp;&nbsp;&nbsp;&nbsp; 223677 |
| &nbsp;&nbsp;&nbsp;Fells Point Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.05%, 01/31/2027\* | &nbsp;&nbsp; 1215000 | &nbsp;&nbsp;&nbsp;&nbsp; 1187437 |
| &nbsp;&nbsp;&nbsp;FirstEnergy Pennsylvania Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 03/15/2028\* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 72557 |
| &nbsp;&nbsp;&nbsp;Fortis, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.06%, 10/04/2026 | &nbsp;&nbsp; 127000 | &nbsp;&nbsp;&nbsp;&nbsp; 124535 |
| &nbsp;&nbsp;&nbsp;ITC Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 05/14/2030\* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 194378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 09/22/2027\* | &nbsp;&nbsp; 585000 | &nbsp;&nbsp;&nbsp;&nbsp; 588809 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp;&nbsp;Jersey Central Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 03/01/2032\* | $2876000 | &nbsp;&nbsp;$2521676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 01/15/2026\* | &nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp; 244358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 01/15/2035 | &nbsp;&nbsp; 155000 | &nbsp;&nbsp;&nbsp;&nbsp; 154361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.15%, 06/01/2037 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 106769 |
| &nbsp;&nbsp;&nbsp;Massachusetts Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 08/15/2046\* | &nbsp;&nbsp; 241000 | &nbsp;&nbsp;&nbsp;&nbsp; 190231 |
| &nbsp;&nbsp;&nbsp;Nevada Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 09/15/2040 | &nbsp;&nbsp; 96000 | &nbsp;&nbsp;&nbsp;&nbsp; 94391 |
| &nbsp;&nbsp;&nbsp;New England Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 12/05/2047\* | &nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 105850 |
| &nbsp;&nbsp;&nbsp;New York State Electric & Gas Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 12/01/2026\* | &nbsp;&nbsp; 113000 | &nbsp;&nbsp;&nbsp;&nbsp; 111231 |
| &nbsp;&nbsp;&nbsp;Niagara Mohawk Power Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.96%, 06/27/2030\* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 396644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 07/03/2055\* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 39990 |
| &nbsp;&nbsp;&nbsp;NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 12/02/2027\* | &nbsp;&nbsp; 395000 | &nbsp;&nbsp;&nbsp;&nbsp; 374278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 06/15/2029\* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 295057 |
| &nbsp;&nbsp;&nbsp;OGE Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 05/15/2029 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 144261 |
| &nbsp;&nbsp;&nbsp;Ohio Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 10/01/2051 | &nbsp;&nbsp; 335000 | &nbsp;&nbsp;&nbsp;&nbsp; 202905 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 09/15/2049 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 279463 |
| &nbsp;&nbsp;&nbsp;Pacific Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 03/01/2026 | &nbsp;&nbsp; 1185000 | &nbsp;&nbsp;&nbsp;&nbsp; 1171743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 06/15/2028 | &nbsp;&nbsp; 1428000 | &nbsp;&nbsp;&nbsp;&nbsp; 1359513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 08/01/2040 | &nbsp;&nbsp; 3970000 | &nbsp;&nbsp;&nbsp;&nbsp; 2903675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 08/15/2042 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 54329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 03/15/2045 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 100017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 04/15/2042 | &nbsp;&nbsp; 420000 | &nbsp;&nbsp;&nbsp;&nbsp; 338376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 05/15/2034 | &nbsp;&nbsp; 683000 | &nbsp;&nbsp;&nbsp;&nbsp; 693112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.90%, 10/01/2054 | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 37492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.40%, 06/15/2033 | &nbsp;&nbsp; 355000 | &nbsp;&nbsp;&nbsp;&nbsp; 374558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 01/15/2053 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 25950 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 08/15/2035 | &nbsp;&nbsp; 1285000 | &nbsp;&nbsp;&nbsp;&nbsp; 1309939 |
| &nbsp;&nbsp;&nbsp;Pepco Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.45%, 08/15/2032 | &nbsp;&nbsp; 119000 | &nbsp;&nbsp;&nbsp;&nbsp; 135426 |
| &nbsp;&nbsp;&nbsp;PG&E Recovery Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.23%, 06/01/2042 | &nbsp;&nbsp; 345000 | &nbsp;&nbsp;&nbsp;&nbsp; 338933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.53%, 06/01/2051 | &nbsp;&nbsp; 410000 | &nbsp;&nbsp;&nbsp;&nbsp; 404969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.54%, 07/15/2049 | &nbsp;&nbsp; 420000 | &nbsp;&nbsp;&nbsp;&nbsp; 412586 |
| &nbsp;&nbsp;&nbsp;PG&E Wildfire Recovery Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.26%, 06/01/2038 | &nbsp;&nbsp; 305000 | &nbsp;&nbsp;&nbsp;&nbsp; 286898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 06/01/2054 | &nbsp;&nbsp; 385000 | &nbsp;&nbsp;&nbsp;&nbsp; 355810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.21%, 12/01/2049 | &nbsp;&nbsp; 205000 | &nbsp;&nbsp;&nbsp;&nbsp; 195203 |
| &nbsp;&nbsp;&nbsp;PPL Electric Utilities Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 06/15/2044 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp; 225805 |
| &nbsp;&nbsp;&nbsp;Progress Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 10/30/2031 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 167815 |
| &nbsp;&nbsp;&nbsp;Public Service Co. of Colorado |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 06/15/2046 | &nbsp;&nbsp; 53000 | &nbsp;&nbsp;&nbsp;&nbsp; 37795 |
| &nbsp;&nbsp;&nbsp;Public Service Co. of Oklahoma |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 01/15/2035 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 109754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 11/15/2037 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 484441 |
| &nbsp;&nbsp;&nbsp;Public Service Electric & Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 03/01/2051 | &nbsp;&nbsp; 675000 | &nbsp;&nbsp;&nbsp;&nbsp; 440535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 12/01/2036 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 104191 |
| &nbsp;&nbsp;&nbsp;Puget Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.73%, 03/15/2035 | &nbsp;&nbsp; 205000 | &nbsp;&nbsp;&nbsp;&nbsp; 205458 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 08/15/2051 | $445000 | &nbsp;&nbsp;$280571 |
| &nbsp;&nbsp;&nbsp;SCE Recovery Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 06/15/2042 | &nbsp;&nbsp; 364989 | &nbsp;&nbsp;&nbsp;&nbsp; 356531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.11%, 12/14/2049 | &nbsp;&nbsp; 165000 | &nbsp;&nbsp;&nbsp;&nbsp; 155571 |
| &nbsp;&nbsp;&nbsp;Sigeco Securitization I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.03%, 11/15/2038 | &nbsp;&nbsp; 341473 | &nbsp;&nbsp;&nbsp;&nbsp; 344342 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 03/15/2042 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 272280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 01/15/2036 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 97310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 04/15/2054 | &nbsp;&nbsp; 660000 | &nbsp;&nbsp;&nbsp;&nbsp; 605854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 12/01/2053 | &nbsp;&nbsp; 447000 | &nbsp;&nbsp;&nbsp;&nbsp; 418074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.90%, 03/01/2055 | &nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 240036 |
| &nbsp;&nbsp;&nbsp;Southern Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 06/15/2033 | &nbsp;&nbsp; 696000 | &nbsp;&nbsp;&nbsp;&nbsp; 707857 |
| &nbsp;&nbsp;&nbsp;Southwestern Electric Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 04/01/2045 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 82695 |
| &nbsp;&nbsp;&nbsp;Southwestern Public Service Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 08/15/2041 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 86749 |
| &nbsp;&nbsp;&nbsp;Virginia Electric & Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 02/15/2044 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp; 153015 |
| &nbsp;&nbsp;&nbsp;Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 12/30/2034\* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp;&nbsp;&nbsp; 157794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 04/15/2034\* | &nbsp;&nbsp; 318000 | &nbsp;&nbsp;&nbsp;&nbsp; 330053 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42982061 |
| **Electronics — 0.2%** | **Electronics — 0.2%** | **Electronics — 0.2%** |
| &nbsp;&nbsp;&nbsp;Arrow Electronics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 02/15/2032 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp;&nbsp;&nbsp; 2280048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 04/10/2034 | &nbsp;&nbsp; 1627000 | &nbsp;&nbsp;&nbsp;&nbsp; 1673086 |
| &nbsp;&nbsp;&nbsp;Honeywell International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 03/01/2054 | &nbsp;&nbsp; 440000 | &nbsp;&nbsp;&nbsp;&nbsp; 414039 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4367173 |
| **Entertainment — 0.0%** | **Entertainment — 0.0%** | **Entertainment — 0.0%** |
| &nbsp;&nbsp;&nbsp;WMG Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 02/15/2031\* | &nbsp;&nbsp; 820000 | &nbsp;&nbsp;&nbsp;&nbsp; 749181 |
| **Food — 0.5%** | **Food — 0.5%** | **Food — 0.5%** |
| &nbsp;&nbsp;&nbsp;Bimbo Bakeries USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 05/17/2051\* | &nbsp;&nbsp; 445000 | &nbsp;&nbsp;&nbsp;&nbsp; 326099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 01/09/2036\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198103 |
| &nbsp;&nbsp;&nbsp;Conagra Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 11/01/2038 | &nbsp;&nbsp; 105000 | &nbsp;&nbsp;&nbsp;&nbsp; 98854 |
| &nbsp;&nbsp;&nbsp;JBS USA Holding LUX SARL/JBS USA Food Co./JBS LUX Co. SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 12/01/2031 | &nbsp;&nbsp; 490000 | &nbsp;&nbsp;&nbsp;&nbsp; 455797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 03/15/2034 | &nbsp;&nbsp; 520000 | &nbsp;&nbsp;&nbsp;&nbsp; 566029 |
| &nbsp;&nbsp;&nbsp;JBS USA Holding Lux SARL/JBS USA Foods Group Holdings, Inc./JBS USA Food Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 01/15/2036\* | &nbsp;&nbsp; 610000 | &nbsp;&nbsp;&nbsp;&nbsp; 607517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 04/15/2066\* | &nbsp;&nbsp; 685000 | &nbsp;&nbsp;&nbsp;&nbsp; 675143 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Foods Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 10/01/2039 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 349693 |
| &nbsp;&nbsp;&nbsp;Kroger Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 09/15/2034 | &nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp; 187948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 04/15/2042 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 364865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 09/15/2054 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 132109 |
| &nbsp;&nbsp;&nbsp;Mars, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 05/01/2045\* | &nbsp;&nbsp; 745000 | &nbsp;&nbsp;&nbsp;&nbsp; 739882 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 09/04/2050 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 146939 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Food (continued)** | **Food (continued)** | **Food (continued)** |
| &nbsp;&nbsp;&nbsp;Performance Food Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 09/15/2032\* | $2170000 | &nbsp;&nbsp;$2203607 |
| &nbsp;&nbsp;&nbsp;Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 09/15/2031\* | &nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp; 249565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 04/15/2030\* | &nbsp;&nbsp; 681000 | &nbsp;&nbsp;&nbsp;&nbsp; 650493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 12/15/2029\* | &nbsp;&nbsp; 801000 | &nbsp;&nbsp;&nbsp;&nbsp; 794057 |
| &nbsp;&nbsp;&nbsp;The Campbell's Company |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 04/24/2050 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 92912 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 03/15/2034 | &nbsp;&nbsp; 340000 | &nbsp;&nbsp;&nbsp;&nbsp; 351281 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9190893 |
| **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** |
| &nbsp;&nbsp;&nbsp;Pabrik Kertas Tjiwi Kimia Tbk PT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 04/30/2029(2)(3) | &nbsp;&nbsp; 258200 | &nbsp;&nbsp;&nbsp;&nbsp; 64550 |
| &nbsp;&nbsp;&nbsp;Pindo Deli Pulp & Paper Mills PT FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.51%, (3 ML+3.00%), 04/28/2027\*†(2)(4) | &nbsp;&nbsp; 941586 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64550 |
| **Gas — 0.4%** | **Gas — 0.4%** | **Gas — 0.4%** |
| &nbsp;&nbsp;&nbsp;APA Infrastructure, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 07/15/2027\* | &nbsp;&nbsp; 285000 | &nbsp;&nbsp;&nbsp;&nbsp; 283130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 09/16/2034\* | &nbsp;&nbsp; 910000 | &nbsp;&nbsp;&nbsp;&nbsp; 899514 |
| &nbsp;&nbsp;&nbsp;Atmos Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 10/15/2044 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp; 222880 |
| &nbsp;&nbsp;&nbsp;Boston Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 08/01/2027\* | &nbsp;&nbsp; 3510000 | &nbsp;&nbsp;&nbsp;&nbsp; 3414676 |
| &nbsp;&nbsp;&nbsp;Brooklyn Union Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.27%, 03/15/2048\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 194189 |
| &nbsp;&nbsp;&nbsp;NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.70%, 02/15/2031 | &nbsp;&nbsp; 360000 | &nbsp;&nbsp;&nbsp;&nbsp; 306938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 05/01/2030 | &nbsp;&nbsp; 1413000 | &nbsp;&nbsp;&nbsp;&nbsp; 1352900 |
| &nbsp;&nbsp;&nbsp;Southern Co. Gas Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 09/30/2051 | &nbsp;&nbsp; 295000 | &nbsp;&nbsp;&nbsp;&nbsp; 187976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 10/01/2046 | &nbsp;&nbsp; 71000 | &nbsp;&nbsp;&nbsp;&nbsp; 54574 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6916777 |
| **Healthcare-Products — 0.3%** | **Healthcare-Products — 0.3%** | **Healthcare-Products — 0.3%** |
| &nbsp;&nbsp;&nbsp;Alcon Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 05/27/2030\* | &nbsp;&nbsp; 989000 | &nbsp;&nbsp;&nbsp;&nbsp; 907249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 09/23/2026\* | &nbsp;&nbsp; 716000 | &nbsp;&nbsp;&nbsp;&nbsp; 700322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 09/23/2029\* | &nbsp;&nbsp; 1307000 | &nbsp;&nbsp;&nbsp;&nbsp; 1231700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 12/06/2032\* | &nbsp;&nbsp; 707000 | &nbsp;&nbsp;&nbsp;&nbsp; 726154 |
| &nbsp;&nbsp;&nbsp;Boston Scientific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 03/01/2039 | &nbsp;&nbsp; 98000 | &nbsp;&nbsp;&nbsp;&nbsp; 91641 |
| &nbsp;&nbsp;&nbsp;DH Europe Finance II SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 11/15/2039 | &nbsp;&nbsp; 202000 | &nbsp;&nbsp;&nbsp;&nbsp; 160980 |
| &nbsp;&nbsp;&nbsp;Medline Borrower LP/Medline Co.-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 04/01/2029\* | &nbsp;&nbsp; 1534000 | &nbsp;&nbsp;&nbsp;&nbsp; 1564132 |
| &nbsp;&nbsp;&nbsp;Solventum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 03/23/2034 | &nbsp;&nbsp; 543000 | &nbsp;&nbsp;&nbsp;&nbsp; 556938 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5939116 |
| **Healthcare-Services — 1.3%** | **Healthcare-Services — 1.3%** | **Healthcare-Services — 1.3%** |
| &nbsp;&nbsp;&nbsp;Adventist Health System |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.43%, 03/01/2032 | &nbsp;&nbsp; 2427000 | &nbsp;&nbsp;&nbsp;&nbsp; 2446438 |
| &nbsp;&nbsp;&nbsp;Children's Hospital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.93%, 07/15/2050 | &nbsp;&nbsp; 340000 | &nbsp;&nbsp;&nbsp;&nbsp; 215223 |
| &nbsp;&nbsp;&nbsp;Children's Hospital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.59%, 02/01/2050 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp; 161473 |
| &nbsp;&nbsp;&nbsp;CommonSpirit Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.78%, 10/01/2030 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 250750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.91%, 10/01/2050 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 200978 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Healthcare-Services (continued)** | **Healthcare-Services (continued)** | **Healthcare-Services (continued)** |
| &nbsp;&nbsp;&nbsp;Cottage Health Obligated Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 11/01/2049 | $320000 | &nbsp;&nbsp;$220341 |
| &nbsp;&nbsp;&nbsp;Elevance Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 08/15/2044 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp; 154480 |
| &nbsp;&nbsp;&nbsp;Hackensack Meridian Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.68%, 09/01/2041 | &nbsp;&nbsp; 760000 | &nbsp;&nbsp;&nbsp;&nbsp; 529067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 09/01/2050 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 249511 |
| &nbsp;&nbsp;&nbsp;Hartford HealthCare Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.45%, 07/01/2054 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 482987 |
| &nbsp;&nbsp;&nbsp;HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 07/15/2051 | &nbsp;&nbsp; 137000 | &nbsp;&nbsp;&nbsp;&nbsp; 90086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 03/15/2032 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 156460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 06/15/2039 | &nbsp;&nbsp; 335000 | &nbsp;&nbsp;&nbsp;&nbsp; 314073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 09/15/2034 | &nbsp;&nbsp; 355000 | &nbsp;&nbsp;&nbsp;&nbsp; 356438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 06/15/2047 | &nbsp;&nbsp; 390000 | &nbsp;&nbsp;&nbsp;&nbsp; 360882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 03/01/2035 | &nbsp;&nbsp; 405000 | &nbsp;&nbsp;&nbsp;&nbsp; 414757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 09/15/2054 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 192923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10%, 04/01/2064 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 484489 |
| &nbsp;&nbsp;&nbsp;Humana, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 03/01/2033 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp;&nbsp;&nbsp; 2171533 |
| &nbsp;&nbsp;&nbsp;Icon Investments Six DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 05/08/2034 | &nbsp;&nbsp; 1524000 | &nbsp;&nbsp;&nbsp;&nbsp; 1559686 |
| &nbsp;&nbsp;&nbsp;Marin General Hospital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.24%, 08/01/2045 | &nbsp;&nbsp; 1226000 | &nbsp;&nbsp;&nbsp;&nbsp; 1347893 |
| &nbsp;&nbsp;&nbsp;Memorial Health Services |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.45%, 11/01/2049 | &nbsp;&nbsp; 620000 | &nbsp;&nbsp;&nbsp;&nbsp; 435908 |
| &nbsp;&nbsp;&nbsp;MyMichigan Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.41%, 06/01/2050 | &nbsp;&nbsp; 155000 | &nbsp;&nbsp;&nbsp;&nbsp; 106457 |
| &nbsp;&nbsp;&nbsp;Northwell Healthcare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.98%, 11/01/2046 | &nbsp;&nbsp; 594000 | &nbsp;&nbsp;&nbsp;&nbsp; 455166 |
| &nbsp;&nbsp;&nbsp;NYU Langone Hospitals |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 07/01/2055 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp; 179937 |
| &nbsp;&nbsp;&nbsp;Piedmont Healthcare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.86%, 01/01/2052 | &nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 284462 |
| &nbsp;&nbsp;&nbsp;Texas Health Resources |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.33%, 11/15/2050 | &nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 120943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.33%, 11/15/2055 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 322187 |
| &nbsp;&nbsp;&nbsp;Toledo Hospital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.33%, 11/15/2028 | &nbsp;&nbsp; 3425000 | &nbsp;&nbsp;&nbsp;&nbsp; 3426506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 11/15/2038 | &nbsp;&nbsp; 1296000 | &nbsp;&nbsp;&nbsp;&nbsp; 1282118 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 05/15/2051 | &nbsp;&nbsp; 345000 | &nbsp;&nbsp;&nbsp;&nbsp; 225145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 08/15/2039 | &nbsp;&nbsp; 420000 | &nbsp;&nbsp;&nbsp;&nbsp; 335666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 07/15/2034 | &nbsp;&nbsp; 3146000 | &nbsp;&nbsp;&nbsp;&nbsp; 3155067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 02/15/2053 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 246697 |
| &nbsp;&nbsp;&nbsp;Yale-New Haven Health Services Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 07/01/2050 | &nbsp;&nbsp; 390000 | &nbsp;&nbsp;&nbsp;&nbsp; 220243 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23156970 |
| **Insurance — 1.0%** | **Insurance — 1.0%** | **Insurance — 1.0%** |
| &nbsp;&nbsp;&nbsp;AIA Group, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 09/16/2040\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 191302 |
| &nbsp;&nbsp;&nbsp;Aon North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 03/01/2034 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 664889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 03/01/2054 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 487053 |
| &nbsp;&nbsp;&nbsp;Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 11/12/2026\* | &nbsp;&nbsp; 1125000 | &nbsp;&nbsp;&nbsp;&nbsp; 1101481 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 03/15/2052 | &nbsp;&nbsp; 410000 | &nbsp;&nbsp;&nbsp;&nbsp; 312732 |
| &nbsp;&nbsp;&nbsp;Brown & Brown, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 03/15/2031 | &nbsp;&nbsp; 910000 | &nbsp;&nbsp;&nbsp;&nbsp; 798714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 03/17/2052 | &nbsp;&nbsp; 628000 | &nbsp;&nbsp;&nbsp;&nbsp; 537215 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 06/23/2035 | $968000 | &nbsp;&nbsp;$978543 |
| &nbsp;&nbsp;&nbsp;F&G Annuities & Life, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 06/04/2029 | &nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 216340 |
| &nbsp;&nbsp;&nbsp;F&G Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 06/30/2026\* | &nbsp;&nbsp; 380000 | &nbsp;&nbsp;&nbsp;&nbsp; 370040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 06/10/2027\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 408449 |
| &nbsp;&nbsp;&nbsp;Fairfax Financial Holdings, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 03/03/2031 | &nbsp;&nbsp; 551000 | &nbsp;&nbsp;&nbsp;&nbsp; 509198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 04/17/2028 | &nbsp;&nbsp; 2552000 | &nbsp;&nbsp;&nbsp;&nbsp; 2566426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 08/16/2032 | &nbsp;&nbsp; 1822000 | &nbsp;&nbsp;&nbsp;&nbsp; 1862932 |
| &nbsp;&nbsp;&nbsp;Guardian Life Insurance Co. of America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 01/24/2077\* | &nbsp;&nbsp; 63000 | &nbsp;&nbsp;&nbsp;&nbsp; 51955 |
| &nbsp;&nbsp;&nbsp;Hanover Insurance Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 09/01/2030 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 222157 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 04/15/2043 | &nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 218349 |
| &nbsp;&nbsp;&nbsp;HUB International, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 06/15/2030\* | &nbsp;&nbsp; 2009000 | &nbsp;&nbsp;&nbsp;&nbsp; 2094254 |
| &nbsp;&nbsp;&nbsp;New York Life Insurance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 05/15/2069\* | &nbsp;&nbsp; 305000 | &nbsp;&nbsp;&nbsp;&nbsp; 235825 |
| &nbsp;&nbsp;&nbsp;Pacific Life Insurance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 10/24/2067\* | &nbsp;&nbsp; 249000 | &nbsp;&nbsp;&nbsp;&nbsp; 195927 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.11%, 02/15/2028\* | &nbsp;&nbsp; 321000 | &nbsp;&nbsp;&nbsp;&nbsp; 317319 |
| &nbsp;&nbsp;&nbsp;Sammons Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 04/15/2034\* | &nbsp;&nbsp; 2862000 | &nbsp;&nbsp;&nbsp;&nbsp; 3071793 |
| &nbsp;&nbsp;&nbsp;Teachers Insurance & Annuity Association of America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.27%, 05/15/2047\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 161679 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17574572 |
| **Internet — 0.1%** | **Internet — 0.1%** | **Internet — 0.1%** |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 04/13/2052 | &nbsp;&nbsp; 655000 | &nbsp;&nbsp;&nbsp;&nbsp; 514660 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 08/15/2054 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 241579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 05/15/2053 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp;&nbsp;&nbsp; 520725 |
| &nbsp;&nbsp;&nbsp;Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 09/15/2034 | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 235735 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1512699 |
| **Lodging — 0.2%** | **Lodging — 0.2%** | **Lodging — 0.2%** |
| &nbsp;&nbsp;&nbsp;Hilton Domestic Operating Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 03/15/2033\* | &nbsp;&nbsp; 2184000 | &nbsp;&nbsp;&nbsp;&nbsp; 2200389 |
| &nbsp;&nbsp;&nbsp;Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 10/15/2032 | &nbsp;&nbsp; 1699000 | &nbsp;&nbsp;&nbsp;&nbsp; 1543527 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3743916 |
| **Machinery-Diversified — 0.6%** | **Machinery-Diversified — 0.6%** | **Machinery-Diversified — 0.6%** |
| &nbsp;&nbsp;&nbsp;CNH Industrial NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 11/15/2027 | &nbsp;&nbsp; 713000 | &nbsp;&nbsp;&nbsp;&nbsp; 704644 |
| &nbsp;&nbsp;&nbsp;nVent Finance SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 04/15/2028 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 223676 |
| &nbsp;&nbsp;&nbsp;Regal Rexnord Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.05%, 04/15/2028 | &nbsp;&nbsp; 829000 | &nbsp;&nbsp;&nbsp;&nbsp; 853998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.30%, 02/15/2030 | &nbsp;&nbsp; 2533000 | &nbsp;&nbsp;&nbsp;&nbsp; 2651526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.40%, 04/15/2033 | &nbsp;&nbsp; 1964000 | &nbsp;&nbsp;&nbsp;&nbsp; 2076063 |
| &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 09/15/2028 | &nbsp;&nbsp; 3564000 | &nbsp;&nbsp;&nbsp;&nbsp; 3582674 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10092581 |
| **Media — 0.7%** | **Media — 0.7%** | **Media — 0.7%** |
| &nbsp;&nbsp;&nbsp;CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 08/15/2030\* | &nbsp;&nbsp; 3485000 | &nbsp;&nbsp;&nbsp;&nbsp; 3260636 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC/Charter Communications Operating Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 06/01/2041 | $260000 | &nbsp;&nbsp;$185240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 03/01/2042 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 193481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 04/01/2051 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp;&nbsp;&nbsp; 338907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 03/01/2050 | &nbsp;&nbsp; 510000 | &nbsp;&nbsp;&nbsp;&nbsp; 395446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 04/01/2053 | &nbsp;&nbsp; 4380000 | &nbsp;&nbsp;&nbsp;&nbsp; 3611370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 10/23/2035 | &nbsp;&nbsp; 471000 | &nbsp;&nbsp;&nbsp;&nbsp; 486922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.83%, 10/23/2055 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 174335 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 07/15/2036 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 250107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 11/01/2039 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 428236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 03/01/2038 | &nbsp;&nbsp; 273000 | &nbsp;&nbsp;&nbsp;&nbsp; 235061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 08/15/2034 | &nbsp;&nbsp; 630000 | &nbsp;&nbsp;&nbsp;&nbsp; 592038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 05/15/2053 | &nbsp;&nbsp; 360000 | &nbsp;&nbsp;&nbsp;&nbsp; 330411 |
| &nbsp;&nbsp;&nbsp;Cox Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 10/01/2050\* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 144194 |
| &nbsp;&nbsp;&nbsp;Time Warner Cable LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 09/15/2042 | &nbsp;&nbsp; 2789000 | &nbsp;&nbsp;&nbsp;&nbsp; 2188958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 09/01/2041 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 628829 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13444171 |
| **Metal Fabricate/Hardware — 0.0%** | **Metal Fabricate/Hardware — 0.0%** | **Metal Fabricate/Hardware — 0.0%** |
| &nbsp;&nbsp;&nbsp;Precision Castparts Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 06/15/2045 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 84072 |
| **Mining — 0.8%** | **Mining — 0.8%** | **Mining — 0.8%** |
| &nbsp;&nbsp;&nbsp;Anglo American Capital PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 03/17/2031\* | &nbsp;&nbsp; 1551000 | &nbsp;&nbsp;&nbsp;&nbsp; 1407261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 03/16/2029\* | &nbsp;&nbsp; 1901000 | &nbsp;&nbsp;&nbsp;&nbsp; 1854781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 03/16/2052\* | &nbsp;&nbsp; 2499000 | &nbsp;&nbsp;&nbsp;&nbsp; 2087554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 04/05/2034\* | &nbsp;&nbsp; 755000 | &nbsp;&nbsp;&nbsp;&nbsp; 780119 |
| &nbsp;&nbsp;&nbsp;BHP Billiton Finance USA, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 02/21/2032 | &nbsp;&nbsp; 345000 | &nbsp;&nbsp;&nbsp;&nbsp; 353465 |
| &nbsp;&nbsp;&nbsp;Corp. Nacional del Cobre de Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.44%, 01/26/2036\* | &nbsp;&nbsp; 339000 | &nbsp;&nbsp;&nbsp;&nbsp; 355268 |
| &nbsp;&nbsp;&nbsp;FMG Resources August 2006 Pty, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 04/01/2031\* | &nbsp;&nbsp; 2313000 | &nbsp;&nbsp;&nbsp;&nbsp; 2167051 |
| &nbsp;&nbsp;&nbsp;Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 09/01/2030\* | &nbsp;&nbsp; 1260000 | &nbsp;&nbsp;&nbsp;&nbsp; 1133750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.85%, 04/27/2031\* | &nbsp;&nbsp; 2121000 | &nbsp;&nbsp;&nbsp;&nbsp; 1908771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 04/04/2034\* | &nbsp;&nbsp; 390000 | &nbsp;&nbsp;&nbsp;&nbsp; 397631 |
| &nbsp;&nbsp;&nbsp;Novelis Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 08/15/2031\* | &nbsp;&nbsp; 2014000 | &nbsp;&nbsp;&nbsp;&nbsp; 1806515 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14252166 |
| **Miscellaneous Manufacturing — 0.0%** | **Miscellaneous Manufacturing — 0.0%** | **Miscellaneous Manufacturing — 0.0%** |
| &nbsp;&nbsp;&nbsp;Eaton Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 03/15/2037 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 311181 |
| **Oil & Gas — 0.9%** | **Oil & Gas — 0.9%** | **Oil & Gas — 0.9%** |
| &nbsp;&nbsp;&nbsp;Aker BP ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 10/01/2054\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 136346 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.77%, 11/10/2050 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 271546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.94%, 06/04/2051 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 310224 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 01/15/2055 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 471683 |
| &nbsp;&nbsp;&nbsp;Coterra Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 02/15/2035 | &nbsp;&nbsp; 410000 | &nbsp;&nbsp;&nbsp;&nbsp; 404128 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 09/15/2054 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 403099 |
| &nbsp;&nbsp;&nbsp;Eni SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 05/09/2029\* | &nbsp;&nbsp; 1407000 | &nbsp;&nbsp;&nbsp;&nbsp; 1399221 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 05/15/2034\* | $3097000 | &nbsp;&nbsp;$3124613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 05/15/2054\* | &nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp;&nbsp; 279634 |
| &nbsp;&nbsp;&nbsp;Eni USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.30%, 11/15/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 211883 |
| &nbsp;&nbsp;&nbsp;EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 05/15/2031\* | &nbsp;&nbsp; 807000 | &nbsp;&nbsp;&nbsp;&nbsp; 748471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 10/01/2027 | &nbsp;&nbsp; 1076000 | &nbsp;&nbsp;&nbsp;&nbsp; 1061051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/15/2029 | &nbsp;&nbsp; 697000 | &nbsp;&nbsp;&nbsp;&nbsp; 701260 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 08/16/2039 | &nbsp;&nbsp; 410000 | &nbsp;&nbsp;&nbsp;&nbsp; 317707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 08/16/2049 | &nbsp;&nbsp; 510000 | &nbsp;&nbsp;&nbsp;&nbsp; 339464 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 09/15/2044 | &nbsp;&nbsp; 2160000 | &nbsp;&nbsp;&nbsp;&nbsp; 1802482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 12/15/2045 | &nbsp;&nbsp; 974000 | &nbsp;&nbsp;&nbsp;&nbsp; 932583 |
| &nbsp;&nbsp;&nbsp;Santos Finance, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 09/19/2033\* | &nbsp;&nbsp; 1618000 | &nbsp;&nbsp;&nbsp;&nbsp; 1759834 |
| &nbsp;&nbsp;&nbsp;Suncor Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 06/15/2026 | &nbsp;&nbsp; 144000 | &nbsp;&nbsp;&nbsp;&nbsp; 148272 |
| &nbsp;&nbsp;&nbsp;Tengizchevroil Finance Co. International, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 08/15/2030 | &nbsp;&nbsp; 1714000 | &nbsp;&nbsp;&nbsp;&nbsp; 1553452 |
| &nbsp;&nbsp;&nbsp;TotalEnergies Capital International SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.99%, 06/29/2041 | &nbsp;&nbsp; 760000 | &nbsp;&nbsp;&nbsp;&nbsp; 560647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.46%, 07/12/2049 | &nbsp;&nbsp; 385000 | &nbsp;&nbsp;&nbsp;&nbsp; 271503 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17209103 |
| **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** |
| &nbsp;&nbsp;&nbsp;Halliburton Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 11/15/2035 | &nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 81666 |
| **Packaging & Containers — 0.0%** | **Packaging & Containers — 0.0%** | **Packaging & Containers — 0.0%** |
| &nbsp;&nbsp;&nbsp;Graphic Packaging International LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.51%, 04/15/2026\* | &nbsp;&nbsp; 545000 | &nbsp;&nbsp;&nbsp;&nbsp; 530999 |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 12/15/2049 | &nbsp;&nbsp; 385000 | &nbsp;&nbsp;&nbsp;&nbsp; 294770 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825769 |
| **Pharmaceuticals — 0.3%** | **Pharmaceuticals — 0.3%** | **Pharmaceuticals — 0.3%** |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 11/21/2039 | &nbsp;&nbsp; 1184000 | &nbsp;&nbsp;&nbsp;&nbsp; 1032841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40%, 11/06/2042 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 240794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 05/14/2035 | &nbsp;&nbsp; 420000 | &nbsp;&nbsp;&nbsp;&nbsp; 403535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 03/15/2034 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 116452 |
| &nbsp;&nbsp;&nbsp;AstraZeneca PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 09/18/2042 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 92689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45%, 09/15/2037 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 156323 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 06/15/2039 | &nbsp;&nbsp; 241000 | &nbsp;&nbsp;&nbsp;&nbsp; 212666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 02/20/2048 | &nbsp;&nbsp; 121000 | &nbsp;&nbsp;&nbsp;&nbsp; 103022 |
| &nbsp;&nbsp;&nbsp;Cencora, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 02/15/2035 | &nbsp;&nbsp; 780000 | &nbsp;&nbsp;&nbsp;&nbsp; 782026 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 03/25/2028 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 74499 |
| &nbsp;&nbsp;&nbsp;CVS Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 01/10/2036\* | &nbsp;&nbsp; 181292 | &nbsp;&nbsp;&nbsp;&nbsp; 172530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.51%, 01/10/2032\* | &nbsp;&nbsp; 137902 | &nbsp;&nbsp;&nbsp;&nbsp; 146287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.35%, 07/10/2031\* | &nbsp;&nbsp; 183576 | &nbsp;&nbsp;&nbsp;&nbsp; 198296 |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/09/2054 | &nbsp;&nbsp; 330000 | &nbsp;&nbsp;&nbsp;&nbsp; 304623 |
| &nbsp;&nbsp;&nbsp;Pfizer Investment Enterprises Pte., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 05/19/2053 | &nbsp;&nbsp; 795000 | &nbsp;&nbsp;&nbsp;&nbsp; 742336 |
| &nbsp;&nbsp;&nbsp;Takeda Pharmaceutical Co., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.03%, 07/09/2040 | &nbsp;&nbsp; 820000 | &nbsp;&nbsp;&nbsp;&nbsp; 609681 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.18%, 07/09/2050 | $693000 | &nbsp;&nbsp;$451971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 07/05/2044 | &nbsp;&nbsp; 292000 | &nbsp;&nbsp;&nbsp;&nbsp; 288909 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6129480 |
| **Pipelines — 1.8%** | **Pipelines — 1.8%** | **Pipelines — 1.8%** |
| &nbsp;&nbsp;&nbsp;Cameron LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 01/15/2039\* | &nbsp;&nbsp; 479000 | &nbsp;&nbsp;&nbsp;&nbsp; 401699 |
| &nbsp;&nbsp;&nbsp;Cheniere Corpus Christi Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.74%, 12/31/2039 | &nbsp;&nbsp; 1036000 | &nbsp;&nbsp;&nbsp;&nbsp; 852121 |
| &nbsp;&nbsp;&nbsp;Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 10/30/2035\* | &nbsp;&nbsp; 3257000 | &nbsp;&nbsp;&nbsp;&nbsp; 3273420 |
| &nbsp;&nbsp;&nbsp;Cheniere Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 04/15/2034 | &nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 264474 |
| &nbsp;&nbsp;&nbsp;Columbia Pipelines Holding Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 10/01/2031\* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp;&nbsp;&nbsp; 165703 |
| &nbsp;&nbsp;&nbsp;Columbia Pipelines Operating Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.44%, 02/15/2035\* | &nbsp;&nbsp; 1130000 | &nbsp;&nbsp;&nbsp;&nbsp; 1128522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.96%, 02/15/2055\* | &nbsp;&nbsp; 765000 | &nbsp;&nbsp;&nbsp;&nbsp; 734449 |
| &nbsp;&nbsp;&nbsp;Eastern Energy Gas Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.20%, 01/15/2055 | &nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 236952 |
| &nbsp;&nbsp;&nbsp;Eastern Gas Transmission & Storage, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 11/15/2049 | &nbsp;&nbsp; 423000 | &nbsp;&nbsp;&nbsp;&nbsp; 304654 |
| &nbsp;&nbsp;&nbsp;Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 12/01/2026 | &nbsp;&nbsp; 1450000 | &nbsp;&nbsp;&nbsp;&nbsp; 1444915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 04/05/2034 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 818661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 03/08/2033 | &nbsp;&nbsp; 972000 | &nbsp;&nbsp;&nbsp;&nbsp; 1006853 |
| &nbsp;&nbsp;&nbsp;Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 09/15/2029 | &nbsp;&nbsp; 189000 | &nbsp;&nbsp;&nbsp;&nbsp; 185355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 01/15/2043 | &nbsp;&nbsp; 567000 | &nbsp;&nbsp;&nbsp;&nbsp; 485215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 02/15/2028 | &nbsp;&nbsp; 676000 | &nbsp;&nbsp;&nbsp;&nbsp; 692703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.05%, 06/01/2041 | &nbsp;&nbsp; 677000 | &nbsp;&nbsp;&nbsp;&nbsp; 675881 |
| &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 02/15/2035 | &nbsp;&nbsp; 365000 | &nbsp;&nbsp;&nbsp;&nbsp; 361775 |
| &nbsp;&nbsp;&nbsp;Flex Intermediate Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.32%, 12/30/2039\* | &nbsp;&nbsp; 280000 | &nbsp;&nbsp;&nbsp;&nbsp; 219875 |
| &nbsp;&nbsp;&nbsp;Galaxy Pipeline Assets Bidco, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.94%, 09/30/2040\* | &nbsp;&nbsp; 441620 | &nbsp;&nbsp;&nbsp;&nbsp; 365464 |
| &nbsp;&nbsp;&nbsp;Gray Oak Pipeline LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 10/15/2025\* | &nbsp;&nbsp; 1345000 | &nbsp;&nbsp;&nbsp;&nbsp; 1337710 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 09/01/2044 | &nbsp;&nbsp; 1611000 | &nbsp;&nbsp;&nbsp;&nbsp; 1493173 |
| &nbsp;&nbsp;&nbsp;MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 03/14/2052 | &nbsp;&nbsp; 3197000 | &nbsp;&nbsp;&nbsp;&nbsp; 2638977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 04/01/2035 | &nbsp;&nbsp; 395000 | &nbsp;&nbsp;&nbsp;&nbsp; 390591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 06/01/2034 | &nbsp;&nbsp; 620000 | &nbsp;&nbsp;&nbsp;&nbsp; 620637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 04/01/2055 | &nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 198926 |
| &nbsp;&nbsp;&nbsp;NGPL PipeCo LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 07/15/2031\* | &nbsp;&nbsp; 410000 | &nbsp;&nbsp;&nbsp;&nbsp; 363697 |
| &nbsp;&nbsp;&nbsp;ONEOK Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.65%, 10/01/2036 | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 258878 |
| &nbsp;&nbsp;&nbsp;Plains All American Pipeline LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 06/15/2035 | &nbsp;&nbsp; 465000 | &nbsp;&nbsp;&nbsp;&nbsp; 477216 |
| &nbsp;&nbsp;&nbsp;Plains All American Pipeline LP/PAA Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 12/15/2029 | &nbsp;&nbsp; 4937000 | &nbsp;&nbsp;&nbsp;&nbsp; 4711940 |
| &nbsp;&nbsp;&nbsp;South Bow USA Infrastructure Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.91%, 09/01/2027\* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 130439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.03%, 10/01/2029\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 149868 |
| &nbsp;&nbsp;&nbsp;Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 02/01/2033 | &nbsp;&nbsp; 507000 | &nbsp;&nbsp;&nbsp;&nbsp; 474001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 04/15/2052 | &nbsp;&nbsp; 836000 | &nbsp;&nbsp;&nbsp;&nbsp; 693111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 03/15/2033 | &nbsp;&nbsp; 2375000 | &nbsp;&nbsp;&nbsp;&nbsp; 2497693 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| &nbsp;&nbsp;&nbsp;Venture Global Calcasieu Pass LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 01/15/2030\* | $2624000 | &nbsp;&nbsp;$2694872 |
| &nbsp;&nbsp;&nbsp;Williams Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 03/15/2035 | &nbsp;&nbsp; 315000 | &nbsp;&nbsp;&nbsp;&nbsp; 321970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 03/15/2055 | &nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 84875 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33157265 |
| **Private Equity — 0.0%** | **Private Equity — 0.0%** | **Private Equity — 0.0%** |
| &nbsp;&nbsp;&nbsp;Brookfield Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 09/20/2047 | &nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 30232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 03/29/2029 | &nbsp;&nbsp; 197000 | &nbsp;&nbsp;&nbsp;&nbsp; 198762 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228994 |
| **Real Estate — 0.1%** | **Real Estate — 0.1%** | **Real Estate — 0.1%** |
| &nbsp;&nbsp;&nbsp;CBRE Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 08/15/2034 | &nbsp;&nbsp; 1483000 | &nbsp;&nbsp;&nbsp;&nbsp; 1562582 |
| &nbsp;&nbsp;&nbsp;Ontario Teachers' Cadillac Fairview Properties Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 03/20/2027\* | &nbsp;&nbsp; 243000 | &nbsp;&nbsp;&nbsp;&nbsp; 239650 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1802232 |
| **REITS — 1.4%** | **REITS — 1.4%** | **REITS — 1.4%** |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 02/01/2050 | &nbsp;&nbsp; 334000 | &nbsp;&nbsp;&nbsp;&nbsp; 248379 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.88%, 10/15/2030 | &nbsp;&nbsp; 545000 | &nbsp;&nbsp;&nbsp;&nbsp; 473077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10%, 06/15/2030 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 266241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 10/15/2049 | &nbsp;&nbsp; 615000 | &nbsp;&nbsp;&nbsp;&nbsp; 446210 |
| &nbsp;&nbsp;&nbsp;Boston Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55%, 04/01/2032 | &nbsp;&nbsp; 3765000 | &nbsp;&nbsp;&nbsp;&nbsp; 3187767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 01/15/2035 | &nbsp;&nbsp; 1501000 | &nbsp;&nbsp;&nbsp;&nbsp; 1509845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 01/15/2034 | &nbsp;&nbsp; 1676000 | &nbsp;&nbsp;&nbsp;&nbsp; 1793906 |
| &nbsp;&nbsp;&nbsp;Brixmor Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 04/01/2028 | &nbsp;&nbsp; 380000 | &nbsp;&nbsp;&nbsp;&nbsp; 358418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 08/16/2031 | &nbsp;&nbsp; 215000 | &nbsp;&nbsp;&nbsp;&nbsp; 187809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 02/15/2035 | &nbsp;&nbsp; 2909000 | &nbsp;&nbsp;&nbsp;&nbsp; 2985741 |
| &nbsp;&nbsp;&nbsp;COPT Defense Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 01/15/2029 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 159790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 04/15/2031 | &nbsp;&nbsp; 624000 | &nbsp;&nbsp;&nbsp;&nbsp; 552877 |
| &nbsp;&nbsp;&nbsp;Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 03/01/2027 | &nbsp;&nbsp; 71000 | &nbsp;&nbsp;&nbsp;&nbsp; 70401 |
| &nbsp;&nbsp;&nbsp;DOC DR LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 11/01/2031 | &nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp;&nbsp; 232499 |
| &nbsp;&nbsp;&nbsp;Equinix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15%, 07/15/2030 | &nbsp;&nbsp; 2406000 | &nbsp;&nbsp;&nbsp;&nbsp; 2140147 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 03/15/2032 | &nbsp;&nbsp; 365000 | &nbsp;&nbsp;&nbsp;&nbsp; 318740 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 06/15/2029 | &nbsp;&nbsp; 415000 | &nbsp;&nbsp;&nbsp;&nbsp; 407014 |
| &nbsp;&nbsp;&nbsp;Goodman US Finance Six LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 10/07/2034\* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp;&nbsp;&nbsp; 183552 |
| &nbsp;&nbsp;&nbsp;Goodman US Finance Three LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 03/15/2028\* | &nbsp;&nbsp; 215000 | &nbsp;&nbsp;&nbsp;&nbsp; 210017 |
| &nbsp;&nbsp;&nbsp;Healthpeak OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13%, 12/01/2028 | &nbsp;&nbsp; 679000 | &nbsp;&nbsp;&nbsp;&nbsp; 628575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 07/15/2029 | &nbsp;&nbsp; 356000 | &nbsp;&nbsp;&nbsp;&nbsp; 342234 |
| &nbsp;&nbsp;&nbsp;Iron Mountain, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 02/15/2031\* | &nbsp;&nbsp; 3295000 | &nbsp;&nbsp;&nbsp;&nbsp; 3116118 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartments LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.70%, 02/15/2031 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 256749 |
| &nbsp;&nbsp;&nbsp;NNN REIT, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 06/15/2034 | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 244695 |
| &nbsp;&nbsp;&nbsp;Regency Centers LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 03/15/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 397599 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **REITS (continued)** | **REITS (continued)** | **REITS (continued)** |
| &nbsp;&nbsp;&nbsp;Safehold GL Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 06/15/2031 | $1200000 | &nbsp;&nbsp;$1070845 |
| &nbsp;&nbsp;&nbsp;SBA Communications Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 02/01/2029 | &nbsp;&nbsp; 2080000 | &nbsp;&nbsp;&nbsp;&nbsp; 1938631 |
| &nbsp;&nbsp;&nbsp;UDR, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10%, 08/01/2032 | &nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp; 258159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 08/15/2031 | &nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 49925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 01/15/2030 | &nbsp;&nbsp; 370000 | &nbsp;&nbsp;&nbsp;&nbsp; 349966 |
| &nbsp;&nbsp;&nbsp;Welltower OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 03/15/2041 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 274328 |
| &nbsp;&nbsp;&nbsp;WP Carey, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.40%, 02/01/2031 | &nbsp;&nbsp; 395000 | &nbsp;&nbsp;&nbsp;&nbsp; 348011 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25008265 |
| **Retail — 0.4%** | **Retail — 0.4%** | **Retail — 0.4%** |
| &nbsp;&nbsp;&nbsp;1011778 BC ULC/New Red Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 06/15/2029\* | &nbsp;&nbsp; 1534000 | &nbsp;&nbsp;&nbsp;&nbsp; 1567860 |
| &nbsp;&nbsp;&nbsp;AutoZone, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.65%, 01/15/2031 | &nbsp;&nbsp; 340000 | &nbsp;&nbsp;&nbsp;&nbsp; 290101 |
| &nbsp;&nbsp;&nbsp;Dick's Sporting Goods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 01/15/2032 | &nbsp;&nbsp; 2038000 | &nbsp;&nbsp;&nbsp;&nbsp; 1829705 |
| &nbsp;&nbsp;&nbsp;McDonald's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 12/09/2035 | &nbsp;&nbsp; 155000 | &nbsp;&nbsp;&nbsp;&nbsp; 150723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.30%, 10/15/2037 | &nbsp;&nbsp; 102000 | &nbsp;&nbsp;&nbsp;&nbsp; 110944 |
| &nbsp;&nbsp;&nbsp;Penske Automotive Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 06/15/2029 | &nbsp;&nbsp; 3167000 | &nbsp;&nbsp;&nbsp;&nbsp; 2997820 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6947153 |
| **Savings & Loans — 0.1%** | **Savings & Loans — 0.1%** | **Savings & Loans — 0.1%** |
| &nbsp;&nbsp;&nbsp;Nationwide Building Society |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.97%, 02/16/2028\* | &nbsp;&nbsp; 950000 | &nbsp;&nbsp;&nbsp;&nbsp; 925918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.54%, 07/14/2036\* | &nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 232452 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1158370 |
| **Semiconductors — 0.4%** | **Semiconductors — 0.4%** | **Semiconductors — 0.4%** |
| &nbsp;&nbsp;&nbsp;Analog Devices, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 10/01/2041 | &nbsp;&nbsp; 473000 | &nbsp;&nbsp;&nbsp;&nbsp; 342044 |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.14%, 11/15/2035\* | &nbsp;&nbsp; 2538000 | &nbsp;&nbsp;&nbsp;&nbsp; 2130329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.19%, 11/15/2036\* | &nbsp;&nbsp; 710000 | &nbsp;&nbsp;&nbsp;&nbsp; 585920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.93%, 05/15/2037\* | &nbsp;&nbsp; 1552000 | &nbsp;&nbsp;&nbsp;&nbsp; 1499802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 07/12/2029 | &nbsp;&nbsp; 930000 | &nbsp;&nbsp;&nbsp;&nbsp; 949204 |
| &nbsp;&nbsp;&nbsp;Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.05%, 08/12/2051 | &nbsp;&nbsp; 165000 | &nbsp;&nbsp;&nbsp;&nbsp; 95388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 11/15/2049 | &nbsp;&nbsp; 165000 | &nbsp;&nbsp;&nbsp;&nbsp; 100707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.73%, 12/08/2047 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 88966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 02/10/2053 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 180065 |
| &nbsp;&nbsp;&nbsp;KLA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 03/01/2050 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 242351 |
| &nbsp;&nbsp;&nbsp;Marvell Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 07/15/2035 | &nbsp;&nbsp; 385000 | &nbsp;&nbsp;&nbsp;&nbsp; 388338 |
| &nbsp;&nbsp;&nbsp;NXP BV/NXP Funding LLC/NXP USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 05/11/2031 | &nbsp;&nbsp; 725000 | &nbsp;&nbsp;&nbsp;&nbsp; 640062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 05/11/2041 | &nbsp;&nbsp; 745000 | &nbsp;&nbsp;&nbsp;&nbsp; 546326 |
| &nbsp;&nbsp;&nbsp;Texas Instruments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 05/18/2063 | &nbsp;&nbsp; 427000 | &nbsp;&nbsp;&nbsp;&nbsp; 386650 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8176152 |
| **Software — 0.5%** | **Software — 0.5%** | **Software — 0.5%** |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 09/10/2034 | &nbsp;&nbsp; 622000 | &nbsp;&nbsp;&nbsp;&nbsp; 612503 |
| &nbsp;&nbsp;&nbsp;Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 07/01/2029 | &nbsp;&nbsp; 1675000 | &nbsp;&nbsp;&nbsp;&nbsp; 1607179 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40%, 07/01/2049 | $175000 | &nbsp;&nbsp;$139777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 03/02/2033 | &nbsp;&nbsp; 1191000 | &nbsp;&nbsp;&nbsp;&nbsp; 1224190 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.04%, 03/17/2062 | &nbsp;&nbsp; 91000 | &nbsp;&nbsp;&nbsp;&nbsp; 57668 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 04/01/2050 | &nbsp;&nbsp; 1095000 | &nbsp;&nbsp;&nbsp;&nbsp; 751903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 11/15/2037 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 169685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 07/15/2036 | &nbsp;&nbsp; 54000 | &nbsp;&nbsp;&nbsp;&nbsp; 47071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 05/15/2035 | &nbsp;&nbsp; 46000 | &nbsp;&nbsp;&nbsp;&nbsp; 41244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 07/08/2034 | &nbsp;&nbsp; 81000 | &nbsp;&nbsp;&nbsp;&nbsp; 76142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 05/15/2055 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 153606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 02/06/2033 | &nbsp;&nbsp; 510000 | &nbsp;&nbsp;&nbsp;&nbsp; 508300 |
| &nbsp;&nbsp;&nbsp;Roper Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 02/15/2032 | &nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 253924 |
| &nbsp;&nbsp;&nbsp;SS&C Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 09/30/2027\* | &nbsp;&nbsp; 2616000 | &nbsp;&nbsp;&nbsp;&nbsp; 2616569 |
| &nbsp;&nbsp;&nbsp;Synopsys, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 04/01/2055 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 443738 |
| &nbsp;&nbsp;&nbsp;VMware LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.40%, 08/15/2026 | &nbsp;&nbsp; 859000 | &nbsp;&nbsp;&nbsp;&nbsp; 832212 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9535711 |
| **Telecommunications — 0.9%** | **Telecommunications — 0.9%** | **Telecommunications — 0.9%** |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 02/01/2032 | &nbsp;&nbsp; 765000 | &nbsp;&nbsp;&nbsp;&nbsp; 656537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 06/01/2041 | &nbsp;&nbsp; 304000 | &nbsp;&nbsp;&nbsp;&nbsp; 237737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 09/15/2055 | &nbsp;&nbsp; 1393000 | &nbsp;&nbsp;&nbsp;&nbsp; 933956 |
| &nbsp;&nbsp;&nbsp;Corning, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 11/15/2049 | &nbsp;&nbsp; 355000 | &nbsp;&nbsp;&nbsp;&nbsp; 267951 |
| &nbsp;&nbsp;&nbsp;NBN Co., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 05/05/2031\* | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp;&nbsp;&nbsp; 944780 |
| &nbsp;&nbsp;&nbsp;NTT Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.17%, 07/16/2032\* | &nbsp;&nbsp; 630000 | &nbsp;&nbsp;&nbsp;&nbsp; 635439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 07/16/2035\* | &nbsp;&nbsp; 825000 | &nbsp;&nbsp;&nbsp;&nbsp; 837786 |
| &nbsp;&nbsp;&nbsp;Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 03/15/2042 | &nbsp;&nbsp; 3354000 | &nbsp;&nbsp;&nbsp;&nbsp; 2873548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 03/15/2052 | &nbsp;&nbsp; 3354000 | &nbsp;&nbsp;&nbsp;&nbsp; 2720654 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55%, 02/15/2031 | &nbsp;&nbsp; 4081000 | &nbsp;&nbsp;&nbsp;&nbsp; 3645678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 10/15/2052 | &nbsp;&nbsp; 720000 | &nbsp;&nbsp;&nbsp;&nbsp; 480256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 04/15/2040 | &nbsp;&nbsp; 317000 | &nbsp;&nbsp;&nbsp;&nbsp; 280059 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 11/20/2040 | &nbsp;&nbsp; 495000 | &nbsp;&nbsp;&nbsp;&nbsp; 347065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.78%, 02/15/2035 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 48464 |
| &nbsp;&nbsp;&nbsp;Vodafone Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 02/10/2053 | &nbsp;&nbsp; 847000 | &nbsp;&nbsp;&nbsp;&nbsp; 800499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 11/30/2032 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 322548 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16032957 |
| **Transportation — 0.1%** | **Transportation — 0.1%** | **Transportation — 0.1%** |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 02/15/2050 | &nbsp;&nbsp; 193000 | &nbsp;&nbsp;&nbsp;&nbsp; 139914 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 05/01/2048 | &nbsp;&nbsp; 382000 | &nbsp;&nbsp;&nbsp;&nbsp; 335299 |
| &nbsp;&nbsp;&nbsp;CSX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35%, 09/15/2049 | &nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 58970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 11/15/2048 | &nbsp;&nbsp; 345000 | &nbsp;&nbsp;&nbsp;&nbsp; 303412 |
| &nbsp;&nbsp;&nbsp;Union Pacific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10%, 09/15/2067 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 73774 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;911369 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Water — 0.0%** | **Water — 0.0%** | **Water — 0.0%** |
| &nbsp;&nbsp;&nbsp;American Water Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 05/01/2030 | $500000 | &nbsp;&nbsp;$463536 |
| **Total Corporate Bonds & Notes<br> (cost $582,850,021)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555423160 |
| **ASSET BACKED SECURITIES — 9.3%** | **ASSET BACKED SECURITIES — 9.3%** | **ASSET BACKED SECURITIES — 9.3%** |
| **Auto Loan Receivables — 2.7%** | **Auto Loan Receivables — 2.7%** | **Auto Loan Receivables — 2.7%** |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2, Class B<br> 6.10%, 12/13/2027\* | &nbsp;&nbsp; 1432000 | &nbsp;&nbsp;&nbsp;&nbsp; 1434202 |
| &nbsp;&nbsp;&nbsp;AmeriCredit Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class A2A<br> 5.75%, 02/18/2028 | &nbsp;&nbsp; 501629 | &nbsp;&nbsp;&nbsp;&nbsp; 502417 |
| &nbsp;&nbsp;&nbsp;ARI Fleet Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-B, Class A2<br> 6.05%, 07/15/2032\* | &nbsp;&nbsp; 243140 | &nbsp;&nbsp;&nbsp;&nbsp; 244923 |
| &nbsp;&nbsp;&nbsp;Avis Budget Rental Car Funding AESOP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A<br> 5.36%, 06/20/2030\* | &nbsp;&nbsp; 1034000 | &nbsp;&nbsp;&nbsp;&nbsp; 1058062 |
| &nbsp;&nbsp;&nbsp;Bridgecrest Lending Auto Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class C<br> 5.65%, 04/16/2029 | &nbsp;&nbsp; 901000 | &nbsp;&nbsp;&nbsp;&nbsp; 905676 |
| &nbsp;&nbsp;&nbsp;Carvana Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-N1, Class C<br> 5.92%, 07/10/2029\* | &nbsp;&nbsp; 1130000 | &nbsp;&nbsp;&nbsp;&nbsp; 1137798 |
| &nbsp;&nbsp;&nbsp;Chesapeake Funding II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1A, Class A1<br> 5.65%, 05/15/2035\* | &nbsp;&nbsp; 283559 | &nbsp;&nbsp;&nbsp;&nbsp; 285040 |
| &nbsp;&nbsp;&nbsp;Citizens Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class A3<br> 5.11%, 04/17/2028\* | &nbsp;&nbsp; 787000 | &nbsp;&nbsp;&nbsp;&nbsp; 790156 |
| &nbsp;&nbsp;&nbsp;Consumer Portfolio Services Auto Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-B, Class C<br> 5.12%, 07/15/2031\* | &nbsp;&nbsp; 1365000 | &nbsp;&nbsp;&nbsp;&nbsp; 1369111 |
| &nbsp;&nbsp;&nbsp;Credit Acceptance Auto Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-3A, Class C<br> 5.39%, 01/16/2035\* | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp;&nbsp;&nbsp; 1811767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-3A, Class A<br> 6.39%, 08/15/2033\* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1007293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class C<br> 6.71%, 07/17/2034\* | &nbsp;&nbsp; 1490000 | &nbsp;&nbsp;&nbsp;&nbsp; 1529635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-3A, Class C<br> 8.45%, 02/15/2033\* | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp;&nbsp;&nbsp; 1620913 |
| &nbsp;&nbsp;&nbsp;DT Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-2A, Class C<br> 5.79%, 02/15/2029\* | &nbsp;&nbsp; 1494000 | &nbsp;&nbsp;&nbsp;&nbsp; 1499572 |
| &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-4, Class A2<br> 4.69%, 07/20/2027\* | &nbsp;&nbsp; 669000 | &nbsp;&nbsp;&nbsp;&nbsp; 669567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-3, Class A2<br> 6.40%, 03/20/2030\* | &nbsp;&nbsp; 739236 | &nbsp;&nbsp;&nbsp;&nbsp; 749355 |
| &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-2A, Class D<br> 4.56%, 07/17/2028 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp;&nbsp;&nbsp; 2093284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2<br> 4.70%, 09/15/2027 | &nbsp;&nbsp; 997958 | &nbsp;&nbsp;&nbsp;&nbsp; 997738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-4A, Class D<br> 5.98%, 12/15/2028 | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp;&nbsp;&nbsp; 1709797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-3A, Class C<br> 6.21%, 06/15/2028 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1005314 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Auto Loan Receivables (continued)** | **Auto Loan Receivables (continued)** | **Auto Loan Receivables (continued)** |
| &nbsp;&nbsp;&nbsp;FHF Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 5.69%, 02/15/2030\* | $1180341 | &nbsp;&nbsp;$1190381 |
| &nbsp;&nbsp;&nbsp;Flagship Credit Auto Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-4, Class C<br> 7.71%, 10/16/2028\* | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp;&nbsp;&nbsp; 1723683 |
| &nbsp;&nbsp;&nbsp;GLS Auto Receivables Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-3A, Class D<br> 1.48%, 07/15/2027\* | &nbsp;&nbsp; 1546921 | &nbsp;&nbsp;&nbsp;&nbsp; 1528183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2A, Class A2<br> 4.75%, 03/15/2028\* | &nbsp;&nbsp; 307000 | &nbsp;&nbsp;&nbsp;&nbsp; 307136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2A, Class D<br> 5.59%, 01/15/2031\* | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp;&nbsp;&nbsp; 2132811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-3A, Class C<br> 6.01%, 05/15/2029\* | &nbsp;&nbsp; 758000 | &nbsp;&nbsp;&nbsp;&nbsp; 763746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2A, Class C<br> 6.03%, 02/15/2030\* | &nbsp;&nbsp; 1955000 | &nbsp;&nbsp;&nbsp;&nbsp; 1990949 |
| &nbsp;&nbsp;&nbsp;GLS Auto Select Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-2A, Class A2<br> 6.37%, 06/15/2028\* | &nbsp;&nbsp; 287036 | &nbsp;&nbsp;&nbsp;&nbsp; 288934 |
| &nbsp;&nbsp;&nbsp;Hyundai Auto Lease Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-B, Class A2A<br> 4.58%, 09/15/2027\* | &nbsp;&nbsp; 1099000 | &nbsp;&nbsp;&nbsp;&nbsp; 1100434 |
| &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1, Class A3<br> 4.74%, 01/16/2029 | &nbsp;&nbsp; 1376000 | &nbsp;&nbsp;&nbsp;&nbsp; 1378398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-6, Class D<br> 5.69%, 02/18/2031 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp;&nbsp;&nbsp; 2216461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-3, Class D<br> 5.97%, 10/15/2031 | &nbsp;&nbsp; 1955000 | &nbsp;&nbsp;&nbsp;&nbsp; 1998235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2, Class D<br> 6.28%, 08/15/2031 | &nbsp;&nbsp; 1456000 | &nbsp;&nbsp;&nbsp;&nbsp; 1500551 |
| &nbsp;&nbsp;&nbsp;Stellantis Financial Underwritten Enhanced Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-AA, Class A3<br> 4.47%, 07/20/2028\* | &nbsp;&nbsp; 1223000 | &nbsp;&nbsp;&nbsp;&nbsp; 1223914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-AA, Class A2<br> 4.63%, 07/20/2027\* | &nbsp;&nbsp; 1873368 | &nbsp;&nbsp;&nbsp;&nbsp; 1874964 |
| &nbsp;&nbsp;&nbsp;US Auto Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1A, Class B<br> 5.13%, 12/15/2025\* | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp;&nbsp;&nbsp; 930690 |
| &nbsp;&nbsp;&nbsp;Westlake Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1A, Class C<br> 5.74%, 08/15/2028\* | &nbsp;&nbsp; 1315000 | &nbsp;&nbsp;&nbsp;&nbsp; 1323163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-4A, Class C<br> 6.64%, 11/15/2028\* | &nbsp;&nbsp; 1013000 | &nbsp;&nbsp;&nbsp;&nbsp; 1035705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-3A, Class D<br> 6.68%, 04/17/2028\* | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp;&nbsp;&nbsp; 1777306 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48707264 |
| **Credit Card Receivables — 0.3%** | **Credit Card Receivables — 0.3%** | **Credit Card Receivables — 0.3%** |
| &nbsp;&nbsp;&nbsp;Continental Finance Credit Card ABS Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-A, Class A<br> 6.19%, 10/15/2030\* | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp;&nbsp;&nbsp; 1704019 |
| &nbsp;&nbsp;&nbsp;Mercury Financial Credit Card Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2A, Class A<br> 6.56%, 07/20/2029\* | &nbsp;&nbsp; 1580000 | &nbsp;&nbsp;&nbsp;&nbsp; 1590136 |
| &nbsp;&nbsp;&nbsp;Perimeter Master Note Business Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1A, Class A<br> 5.58%, 12/16/2030\* | &nbsp;&nbsp; 1850000 | &nbsp;&nbsp;&nbsp;&nbsp; 1839130 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5133285 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |
| **Other Asset Backed Securities — 6.3%** | **Other Asset Backed Securities — 6.3%** | **Other Asset Backed Securities — 6.3%** |
| &nbsp;&nbsp;&nbsp;Academic Loan Funding Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-1A, Class A<br> 5.26%, (SOFR30A+0.91%), 12/26/2044\* | $86188 | &nbsp;&nbsp;$83957 |
| &nbsp;&nbsp;&nbsp;Accelerated LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1H, Class B<br> 1.90%, 10/20/2040\* | &nbsp;&nbsp; 381170 | &nbsp;&nbsp;&nbsp;&nbsp; 354166 |
| &nbsp;&nbsp;&nbsp;Affirm Asset Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-X1, Class A<br> 5.08%, 04/15/2030\* | &nbsp;&nbsp; 484259 | &nbsp;&nbsp;&nbsp;&nbsp; 484508 |
| &nbsp;&nbsp;&nbsp;American Homes 4 Rent Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-SFR2, Class E<br> 6.07%, 10/17/2052\* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 498730 |
| &nbsp;&nbsp;&nbsp;AMSR Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-SFR3, Class E2<br> 4.00%, 10/17/2039\* | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp;&nbsp;&nbsp; 1675853 |
| &nbsp;&nbsp;&nbsp;Arbor Realty Commercial Real Estate Notes, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL4, Class A<br> 5.81%, (TSFR1M+1.46%), 11/15/2036\* | &nbsp;&nbsp; 3107627 | &nbsp;&nbsp;&nbsp;&nbsp; 3107666 |
| &nbsp;&nbsp;&nbsp;AREIT, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CRE10, Class AS<br> 5.89%, (TSFR1M+1.54%), 01/17/2030\* | &nbsp;&nbsp; 2314123 | &nbsp;&nbsp;&nbsp;&nbsp; 2308337 |
| &nbsp;&nbsp;&nbsp;Bain Capital Credit CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-6A, Class BR<br> 5.88%, (TSFR3M+1.55%), 10/21/2034\* | &nbsp;&nbsp; 1972783 | &nbsp;&nbsp;&nbsp;&nbsp; 1973584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-6A, Class CR<br> 6.13%, (TSFR3M+1.80%), 10/21/2034\* | &nbsp;&nbsp; 1562236 | &nbsp;&nbsp;&nbsp;&nbsp; 1554512 |
| &nbsp;&nbsp;&nbsp;Bastion Funding I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1A, Class A2<br> 7.12%, 04/25/2038\* | &nbsp;&nbsp; 713781 | &nbsp;&nbsp;&nbsp;&nbsp; 715383 |
| &nbsp;&nbsp;&nbsp;BG Beta I, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.28%, 07/16/2054 | &nbsp;&nbsp; 980000 | &nbsp;&nbsp;&nbsp;&nbsp; 993574 |
| &nbsp;&nbsp;&nbsp;Black Diamond CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2R<br> 6.17%, (TSFR3M+1.85%), 11/22/2034\* | &nbsp;&nbsp; 3583333 | &nbsp;&nbsp;&nbsp;&nbsp; 3583724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-2A, Class A2R<br> 6.52%, (TSFR3M+2.20%), 07/23/2032\* | &nbsp;&nbsp; 2724119 | &nbsp;&nbsp;&nbsp;&nbsp; 2726925 |
| &nbsp;&nbsp;&nbsp;Bridge Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-SFR1, Class E1<br> 6.30%, 11/17/2037\* | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1495755 |
| &nbsp;&nbsp;&nbsp;Business Jet Securities LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A<br> 6.20%, 05/15/2039\* | &nbsp;&nbsp; 486080 | &nbsp;&nbsp;&nbsp;&nbsp; 494939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class B<br> 6.92%, 05/15/2039\* | &nbsp;&nbsp; 81013 | &nbsp;&nbsp;&nbsp;&nbsp; 82619 |
| &nbsp;&nbsp;&nbsp;BXG Receivables Note Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-A, Class C<br> 5.35%, 09/28/2037\* | &nbsp;&nbsp; 894200 | &nbsp;&nbsp;&nbsp;&nbsp; 874713 |
| &nbsp;&nbsp;&nbsp;Cars Net Lease Mtg. Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-1A, Class A3<br> 3.10%, 12/15/2050\* | &nbsp;&nbsp; 366406 | &nbsp;&nbsp;&nbsp;&nbsp; 344137 |
| &nbsp;&nbsp;&nbsp;CFIN Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-RTL1, Class AA<br> 4.75%, 02/16/2026\*(5) | &nbsp;&nbsp; 337147 | &nbsp;&nbsp;&nbsp;&nbsp; 334251 |
| &nbsp;&nbsp;&nbsp;Columbia Cent CLO 31, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-31A, Class CR<br> 6.18%, (TSFR3M+1.85%), 04/20/2034\* | &nbsp;&nbsp; 1417722 | &nbsp;&nbsp;&nbsp;&nbsp; 1408877 |
| &nbsp;&nbsp;&nbsp;Corevest American Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-3, Class A<br> 2.71%, 10/15/2052\* | &nbsp;&nbsp; 95267 | &nbsp;&nbsp;&nbsp;&nbsp; 94623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-3, Class B<br> 3.16%, 10/15/2052\* | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp;&nbsp;&nbsp; 1794340 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;DataBank Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 2.06%, 02/27/2051\* | $1250000 | &nbsp;&nbsp;$1225330 |
| &nbsp;&nbsp;&nbsp;Diversified ABS Phase VI LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series VI, Class A<br> 7.50%, 11/28/2039 | &nbsp;&nbsp; 633273 | &nbsp;&nbsp;&nbsp;&nbsp; 627827 |
| &nbsp;&nbsp;&nbsp;Diversified ABS Phase VIII LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A1<br> 7.08%, 05/30/2044\* | &nbsp;&nbsp; 1596925 | &nbsp;&nbsp;&nbsp;&nbsp; 1607147 |
| &nbsp;&nbsp;&nbsp;DLLST LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 5.33%, 01/20/2026\* | &nbsp;&nbsp; 54915 | &nbsp;&nbsp;&nbsp;&nbsp; 54926 |
| &nbsp;&nbsp;&nbsp;DP Lion Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1A, Class A<br> 8.24%, 11/30/2043 | &nbsp;&nbsp; 605303 | &nbsp;&nbsp;&nbsp;&nbsp; 618839 |
| &nbsp;&nbsp;&nbsp;Dryden 55 CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-55A, Class B<br> 6.13%, (TSFR3M+1.81%), 04/15/2031\* | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp;&nbsp;&nbsp; 5507156 |
| &nbsp;&nbsp;&nbsp;Dryden 86 CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-86A, Class CR2<br> 6.22%, (TSFR3M+1.90%), 07/17/2034\* | &nbsp;&nbsp; 4596611 | &nbsp;&nbsp;&nbsp;&nbsp; 4597213 |
| &nbsp;&nbsp;&nbsp;FirstKey Homes Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-SFR1, Class D<br> 2.24%, 08/17/2037\* | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1492541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-SFR2, Class E<br> 2.67%, 10/19/2037\* | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1484464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-SFR1, Class D<br> 5.20%, 05/19/2039\* | &nbsp;&nbsp; 880000 | &nbsp;&nbsp;&nbsp;&nbsp; 875287 |
| &nbsp;&nbsp;&nbsp;FMC GMSR Issuer Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-GT1, Class A<br> 3.62%, 07/25/2026\*(6) | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp;&nbsp;&nbsp; 2088062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-GT2, Class A<br> 3.85%, 10/25/2026\*(6) | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp;&nbsp;&nbsp; 1657220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-GT1, Class A<br> 4.45%, 01/25/2026\*(6) | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1946320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-SAT1, Class A<br> 6.50%, 03/26/2027\*(6) | &nbsp;&nbsp; 2160000 | &nbsp;&nbsp;&nbsp;&nbsp; 2166764 |
| &nbsp;&nbsp;&nbsp;Foundation Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-2A, Class D<br> 9.10%, 06/15/2049\* | &nbsp;&nbsp; 1130096 | &nbsp;&nbsp;&nbsp;&nbsp; 1200873 |
| &nbsp;&nbsp;&nbsp;FW Energy Asset Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.15%, 08/25/2044 | &nbsp;&nbsp; 1197011 | &nbsp;&nbsp;&nbsp;&nbsp; 1209338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.11%, 08/25/2044 | &nbsp;&nbsp; 453670 | &nbsp;&nbsp;&nbsp;&nbsp; 458391 |
| &nbsp;&nbsp;&nbsp;GoodGreen Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-2A, Class A<br> 2.76%, 04/15/2055\* | &nbsp;&nbsp; 461473 | &nbsp;&nbsp;&nbsp;&nbsp; 391763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-2A, Class A<br> 3.26%, 10/15/2053\* | &nbsp;&nbsp; 333151 | &nbsp;&nbsp;&nbsp;&nbsp; 295431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-1A, Class A<br> 3.74%, 10/15/2052\* | &nbsp;&nbsp; 69847 | &nbsp;&nbsp;&nbsp;&nbsp; 63829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017, Class R1<br> 5.00%, 10/20/2051 | &nbsp;&nbsp; 27998 | &nbsp;&nbsp;&nbsp;&nbsp; 27485 |
| &nbsp;&nbsp;&nbsp;GoodGreen, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1A, Class A<br> 5.90%, 01/17/2061\* | &nbsp;&nbsp; 988228 | &nbsp;&nbsp;&nbsp;&nbsp; 966267 |
| &nbsp;&nbsp;&nbsp;Grene Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.00%, 01/17/2061(7) | &nbsp;&nbsp; 53681 | &nbsp;&nbsp;&nbsp;&nbsp; 44163 |
| &nbsp;&nbsp;&nbsp;Harbourview CLO VII-R, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 7RA, Class B<br> 6.29%, (TSFR3M+1.96%), 07/18/2031\* | &nbsp;&nbsp; 2863456 | &nbsp;&nbsp;&nbsp;&nbsp; 2864332 |
| &nbsp;&nbsp;&nbsp;HERO Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-3A, Class A1<br> 3.08%, 09/20/2042\* | &nbsp;&nbsp; 58744 | &nbsp;&nbsp;&nbsp;&nbsp; 55164 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |
| **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-3A, Class A2<br> 3.95%, 09/20/2048\* | $221375 | &nbsp;&nbsp;$207017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-1A, Class A2<br> 4.46%, 09/20/2047\* | &nbsp;&nbsp; 183946 | &nbsp;&nbsp;&nbsp;&nbsp; 175749 |
| &nbsp;&nbsp;&nbsp;Identity Digital Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.79%, 03/20/2065(2) | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;Jonah Energy ABS I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1, Class A1<br> 7.20%, 12/10/2037\* | &nbsp;&nbsp; 534991 | &nbsp;&nbsp;&nbsp;&nbsp; 536194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1, Class A2<br> 7.80%, 11/10/2037 | &nbsp;&nbsp; 840990 | &nbsp;&nbsp;&nbsp;&nbsp; 842756 |
| &nbsp;&nbsp;&nbsp;Jonah Energy ABS II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A1<br> 6.50%, 08/10/2039\* | &nbsp;&nbsp; 1386815 | &nbsp;&nbsp;&nbsp;&nbsp; 1386953 |
| &nbsp;&nbsp;&nbsp;KKR Static CLO I, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1A, Class BR2<br> 5.78%, (TSFR3M+1.45%), 07/20/2031\* | &nbsp;&nbsp; 2063550 | &nbsp;&nbsp;&nbsp;&nbsp; 2056949 |
| &nbsp;&nbsp;&nbsp;Kubota Credit Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-2A, Class A2<br> 5.61%, 07/15/2026\* | &nbsp;&nbsp; 44550 | &nbsp;&nbsp;&nbsp;&nbsp; 44569 |
| &nbsp;&nbsp;&nbsp;Madison Park Funding XXIII, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-23A, Class CR<br> 6.58%, (TSFR3M+2.26%), 07/27/2031\* | &nbsp;&nbsp; 3200273 | &nbsp;&nbsp;&nbsp;&nbsp; 3205902 |
| &nbsp;&nbsp;&nbsp;MAN US CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1A, Class B<br> 7.33%, (TSFR3M+3.00%), 07/20/2035\* | &nbsp;&nbsp; 1900921 | &nbsp;&nbsp;&nbsp;&nbsp; 1906842 |
| &nbsp;&nbsp;&nbsp;MNR ABS Issuer I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.95%, 12/15/2038 | &nbsp;&nbsp; 676991 | &nbsp;&nbsp;&nbsp;&nbsp; 688795 |
| &nbsp;&nbsp;&nbsp;MVW LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1WA, Class A<br> 1.14%, 01/22/2041\* | &nbsp;&nbsp; 236292 | &nbsp;&nbsp;&nbsp;&nbsp; 226337 |
| &nbsp;&nbsp;&nbsp;Neuberger Berman Loan Advisers CLO 44, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-44A, Class CR<br> 6.02%, (TSFR3M+1.70%), 10/16/2035\* | &nbsp;&nbsp; 820473 | &nbsp;&nbsp;&nbsp;&nbsp; 821618 |
| &nbsp;&nbsp;&nbsp;Northwoods Capital, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-14BA, Class BR<br> 6.16%, (TSFR3M+1.85%), 11/13/2031\* | &nbsp;&nbsp; 1940049 | &nbsp;&nbsp;&nbsp;&nbsp; 1941106 |
| &nbsp;&nbsp;&nbsp;NRZ Excess Spread-Collateralized Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FHT1, Class A<br> 3.10%, 07/25/2026\* | &nbsp;&nbsp; 1038182 | &nbsp;&nbsp;&nbsp;&nbsp; 1013548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-PLS1, Class A<br> 3.84%, 12/25/2025\* | &nbsp;&nbsp; 451588 | &nbsp;&nbsp;&nbsp;&nbsp; 447642 |
| &nbsp;&nbsp;&nbsp;Octane Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1A, Class C<br> 2.23%, 11/20/2028\* | &nbsp;&nbsp; 475200 | &nbsp;&nbsp;&nbsp;&nbsp; 471497 |
| &nbsp;&nbsp;&nbsp;OneMain Financial Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2A, Class B<br> 2.21%, 09/14/2035\* | &nbsp;&nbsp; 1585000 | &nbsp;&nbsp;&nbsp;&nbsp; 1504437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-3A, Class A<br> 5.94%, 05/15/2034\* | &nbsp;&nbsp; 946901 | &nbsp;&nbsp;&nbsp;&nbsp; 951390 |
| &nbsp;&nbsp;&nbsp;Oportun Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-B, Class A<br> 1.47%, 05/08/2031\* | &nbsp;&nbsp; 364968 | &nbsp;&nbsp;&nbsp;&nbsp; 356133 |
| &nbsp;&nbsp;&nbsp;P4 SFR Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019, Class A<br> 7.25%, 10/11/2026 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1080200 |
| &nbsp;&nbsp;&nbsp;Palmer Square Loan Funding, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1A, Class B<br> 5.92%, (TSFR3M+1.60%), 02/15/2033\* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1982800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2A, Class B<br> 5.99%, (TSFR3M+1.70%), 07/15/2033\* | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4500599 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;PFP, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-12, Class B<br> 6.39%, (TSFR1M+2.04%), 12/18/2042\* | $1328500 | &nbsp;&nbsp;$1330160 |
| &nbsp;&nbsp;&nbsp;PRET LLC VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-RN4, Class A1<br> 5.49%, 10/25/2051\*(6) | &nbsp;&nbsp; 1964775 | &nbsp;&nbsp;&nbsp;&nbsp; 1964535 |
| &nbsp;&nbsp;&nbsp;PRET Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RPL2, Class A1<br> 4.08%, 06/25/2064\*(6) | &nbsp;&nbsp; 1298519 | &nbsp;&nbsp;&nbsp;&nbsp; 1231723 |
| &nbsp;&nbsp;&nbsp;Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-SFR6, Class E1<br> 2.43%, 07/17/2038\* | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp;&nbsp;&nbsp; 1747877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-SFR1, Class E1<br> 3.93%, 02/17/2041\* | &nbsp;&nbsp; 2050000 | &nbsp;&nbsp;&nbsp;&nbsp; 1936977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-SFR2, Class E1<br> 4.55%, 04/17/2027\* | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1465772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-SFR3, Class E1<br> 5.20%, 04/17/2039\* | &nbsp;&nbsp; 1615000 | &nbsp;&nbsp;&nbsp;&nbsp; 1594736 |
| &nbsp;&nbsp;&nbsp;Reach ABS Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2A, Class B<br> 5.12%, 08/18/2032\* | &nbsp;&nbsp; 1040000 | &nbsp;&nbsp;&nbsp;&nbsp; 1040525 |
| &nbsp;&nbsp;&nbsp;Renew Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-1A, Class A<br> 3.67%, 09/20/2052\* | &nbsp;&nbsp; 94947 | &nbsp;&nbsp;&nbsp;&nbsp; 88055 |
| &nbsp;&nbsp;&nbsp;Rockford Tower CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-1A, Class BRR<br> 5.88%, (TSFR3M+1.55%), 01/20/2036\* | &nbsp;&nbsp; 1891996 | &nbsp;&nbsp;&nbsp;&nbsp; 1887518 |
| &nbsp;&nbsp;&nbsp;RT Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1, Class A<br> 7.85%, 10/15/2043 | &nbsp;&nbsp; 823875 | &nbsp;&nbsp;&nbsp;&nbsp; 834750 |
| &nbsp;&nbsp;&nbsp;SCF Equipment Leasing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1A, Class C<br> 6.77%, 08/22/2033\* | &nbsp;&nbsp; 1526000 | &nbsp;&nbsp;&nbsp;&nbsp; 1574842 |
| &nbsp;&nbsp;&nbsp;Store Master Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A1<br> 5.69%, 05/20/2054\* | &nbsp;&nbsp; 249767 | &nbsp;&nbsp;&nbsp;&nbsp; 251794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 5.70%, 05/20/2054\* | &nbsp;&nbsp; 521800 | &nbsp;&nbsp;&nbsp;&nbsp; 532128 |
| &nbsp;&nbsp;&nbsp;Theorem Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-2A, Class A<br> 6.06%, 12/15/2028\* | &nbsp;&nbsp; 10413 | &nbsp;&nbsp;&nbsp;&nbsp; 10414 |
| &nbsp;&nbsp;&nbsp;Tricon American Homes Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-SFR1, Class D<br> 3.20%, 03/17/2038\* | &nbsp;&nbsp; 1657000 | &nbsp;&nbsp;&nbsp;&nbsp; 1635193 |
| &nbsp;&nbsp;&nbsp;Venture 43 CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-43A, Class BR<br> 6.17%, (TSFR3M+1.85%), 04/15/2034\* | &nbsp;&nbsp; 3258603 | &nbsp;&nbsp;&nbsp;&nbsp; 3259623 |
| &nbsp;&nbsp;&nbsp;VM DEBT LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-1, Class TR<br> 7.46%, 07/18/2027 | &nbsp;&nbsp; 1999176 | &nbsp;&nbsp;&nbsp;&nbsp; 1901037 |
| &nbsp;&nbsp;&nbsp;VOLT C LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NPL9, Class A1<br> 5.99%, 05/25/2051\*(5) | &nbsp;&nbsp; 307832 | &nbsp;&nbsp;&nbsp;&nbsp; 307473 |
| &nbsp;&nbsp;&nbsp;VOLT CI LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NP10, Class A1<br> 5.99%, 05/25/2051\*(5) | &nbsp;&nbsp; 150236 | &nbsp;&nbsp;&nbsp;&nbsp; 150029 |
| &nbsp;&nbsp;&nbsp;VOLT XCIV LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NPL3, Class A1<br> 6.24%, 02/27/2051\*(5) | &nbsp;&nbsp; 67519 | &nbsp;&nbsp;&nbsp;&nbsp; 67476 |
| &nbsp;&nbsp;&nbsp;VOLT XCIX LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NPL8, Class A1<br> 6.12%, 04/25/2051\*(5) | &nbsp;&nbsp; 33821 | &nbsp;&nbsp;&nbsp;&nbsp; 33797 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |
| **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;VOLT XCV LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NPL4, Class A1<br> 6.24%, 03/27/2051\*(5) | $165659 | &nbsp;&nbsp;$165574 |
| &nbsp;&nbsp;&nbsp;VOLT XCVI LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NPL5, Class A1<br> 6.12%, 03/27/2051\*(5) | &nbsp;&nbsp; 18016 | &nbsp;&nbsp;&nbsp;&nbsp; 18007 |
| &nbsp;&nbsp;&nbsp;VOLT XCVII LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NPL6, Class A1<br> 6.24%, 04/25/2051\*(5) | &nbsp;&nbsp; 139440 | &nbsp;&nbsp;&nbsp;&nbsp; 139326 |
| &nbsp;&nbsp;&nbsp;Voya, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-4A, Class A2R3<br> 6.03%, (TSFR3M+1.71%), 10/15/2030\* | &nbsp;&nbsp; 1058177 | &nbsp;&nbsp;&nbsp;&nbsp; 1058973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-4A, Class BR3<br> 6.53%, (TSFR3M+2.21%), 10/15/2030\* | &nbsp;&nbsp; 446999 | &nbsp;&nbsp;&nbsp;&nbsp; 447434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-4A, Class C1R3<br> 7.88%, (TSFR3M+3.56%), 10/15/2030\* | &nbsp;&nbsp; 631645 | &nbsp;&nbsp;&nbsp;&nbsp; 633024 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116169110 |
| **Total Asset Backed Securities<br> (cost $171,165,696)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170009659 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 11.3%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 11.3%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 11.3%** |
| **Commercial and Residential — 7.7%** | **Commercial and Residential — 7.7%** | **Commercial and Residential — 7.7%** |
| &nbsp;&nbsp;&nbsp;Acrec FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-FL3, Class AS<br> 5.99%, (TSFR1M+1.64%), 08/18/2042\* | &nbsp;&nbsp; 2224000 | &nbsp;&nbsp;&nbsp;&nbsp; 2205932 |
| &nbsp;&nbsp;&nbsp;ACREC, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL1, Class C<br> 6.61%, (TSFR1M+2.26%), 10/16/2036\* | &nbsp;&nbsp; 1389000 | &nbsp;&nbsp;&nbsp;&nbsp; 1389565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL1, Class D<br> 7.11%, (TSFR1M+2.76%), 10/16/2036\* | &nbsp;&nbsp; 1675500 | &nbsp;&nbsp;&nbsp;&nbsp; 1666431 |
| &nbsp;&nbsp;&nbsp;Anchor Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RTL1, Class A1<br> 5.72%, 05/25/2040\*(5) | &nbsp;&nbsp; 955000 | &nbsp;&nbsp;&nbsp;&nbsp; 953462 |
| &nbsp;&nbsp;&nbsp;Angel Oak Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-9, Class A1<br> 5.14%, 09/25/2069\*(5) | &nbsp;&nbsp; 1512730 | &nbsp;&nbsp;&nbsp;&nbsp; 1499974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-10, Class A1<br> 5.35%, 10/25/2069\*(5) | &nbsp;&nbsp; 2675230 | &nbsp;&nbsp;&nbsp;&nbsp; 2660426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-12, Class A1<br> 5.65%, 10/25/2069\*(5) | &nbsp;&nbsp; 2414210 | &nbsp;&nbsp;&nbsp;&nbsp; 2411411 |
| &nbsp;&nbsp;&nbsp;Arbor Realty Commercial Real Estate Notes, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL3, Class C<br> 6.31%, (TSFR1M+1.96%), 08/15/2034\* | &nbsp;&nbsp; 951500 | &nbsp;&nbsp;&nbsp;&nbsp; 939630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL3, Class D<br> 6.66%, (TSFR1M+2.31%), 08/15/2034\* | &nbsp;&nbsp; 527000 | &nbsp;&nbsp;&nbsp;&nbsp; 516472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL4, Class C<br> 6.76%, (TSFR1M+2.41%), 11/15/2036\* | &nbsp;&nbsp; 1850500 | &nbsp;&nbsp;&nbsp;&nbsp; 1848227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-FL1, Class D<br> 7.34%, (SOFR30A+3.00%), 01/15/2037\* | &nbsp;&nbsp; 5065500 | &nbsp;&nbsp;&nbsp;&nbsp; 5052840 |
| &nbsp;&nbsp;&nbsp;ARDN 2025-ARCP Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-ARCP, Class B<br> 6.34%, (TSFR1M+2.00%), 06/15/2035\* | &nbsp;&nbsp; 3177000 | &nbsp;&nbsp;&nbsp;&nbsp; 3178347 |
| &nbsp;&nbsp;&nbsp;AREIT Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-CRE6, Class B<br> 6.20%, (SOFR30A+1.85%), 01/20/2037\* | &nbsp;&nbsp; 614000 | &nbsp;&nbsp;&nbsp;&nbsp; 610930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-CRE6, Class C<br> 6.50%, (SOFR30A+2.15%), 01/20/2037\* | &nbsp;&nbsp; 1264000 | &nbsp;&nbsp;&nbsp;&nbsp; 1248201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-CRE6, Class D<br> 7.20%, (SOFR30A+2.85%), 01/20/2037\* | &nbsp;&nbsp; 537000 | &nbsp;&nbsp;&nbsp;&nbsp; 524918 |
| &nbsp;&nbsp;&nbsp;BANK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-BNK46, Class A4<br> 5.75%, 08/15/2056 | &nbsp;&nbsp; 2563434 | &nbsp;&nbsp;&nbsp;&nbsp; 2672397 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Commercial and Residential (continued)** | **Commercial and Residential (continued)** | **Commercial and Residential (continued)** |
| &nbsp;&nbsp;&nbsp;BANK VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-BNK46, Class AS<br> 6.39%, 08/15/2056(6) | $1486048 | &nbsp;&nbsp;$1576433 |
| &nbsp;&nbsp;&nbsp;Barclays Commercial Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-C5, Class A4<br> 3.06%, 11/15/2052 | &nbsp;&nbsp; 1315000 | &nbsp;&nbsp;&nbsp;&nbsp; 1228739 |
| &nbsp;&nbsp;&nbsp;BDS LLC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-FL13, Class A<br> 5.93%, (TSFR1M+1.58%), 09/19/2039\* | &nbsp;&nbsp; 712500 | &nbsp;&nbsp;&nbsp;&nbsp; 716061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-FL14, Class B<br> 6.04%, (TSFR1M+1.69%), 10/21/2042\* | &nbsp;&nbsp; 1425617 | &nbsp;&nbsp;&nbsp;&nbsp; 1404245 |
| &nbsp;&nbsp;&nbsp;Bear Stearns ARM Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-5, Class 2A1<br> 4.75%, 08/25/2033(6) | &nbsp;&nbsp; 56489 | &nbsp;&nbsp;&nbsp;&nbsp; 51989 |
| &nbsp;&nbsp;&nbsp;BMD2 Re-Remic Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-FRR1, Class 5A1<br> 3.43%, 05/25/2052\*(6) | &nbsp;&nbsp; 1843000 | &nbsp;&nbsp;&nbsp;&nbsp; 1709153 |
| &nbsp;&nbsp;&nbsp;BSPRT Issuer, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL7, Class C<br> 6.76%, (TSFR1M+2.41%), 12/15/2038\* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 446635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL7, Class D<br> 7.21%, (TSFR1M+2.86%), 12/15/2038\* | &nbsp;&nbsp; 513000 | &nbsp;&nbsp;&nbsp;&nbsp; 504034 |
| &nbsp;&nbsp;&nbsp;BX Commercial Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-BCAT, Class B<br> 5.90%, (TSFR1M+1.55%), 08/15/2042\* | &nbsp;&nbsp; 968000 | &nbsp;&nbsp;&nbsp;&nbsp; 968000 |
| &nbsp;&nbsp;&nbsp;BXMT, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL4, Class AS<br> 5.76%, (TSFR1M+1.41%), 05/15/2038\* | &nbsp;&nbsp; 2281000 | &nbsp;&nbsp;&nbsp;&nbsp; 2259924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL4, Class B<br> 6.01%, (TSFR1M+1.66%), 05/15/2038\* | &nbsp;&nbsp; 4995500 | &nbsp;&nbsp;&nbsp;&nbsp; 4901072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-FL2, Class B<br> 6.11%, (TSFR1M+1.76%), 02/15/2038\* | &nbsp;&nbsp; 875000 | &nbsp;&nbsp;&nbsp;&nbsp; 864797 |
| &nbsp;&nbsp;&nbsp;Cantor Commercial Real Estate Lending |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-CF2, Class A5<br> 2.87%, 11/15/2052 | &nbsp;&nbsp; 3173122 | &nbsp;&nbsp;&nbsp;&nbsp; 2940864 |
| &nbsp;&nbsp;&nbsp;Citigroup Commercial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-P6, Class A5<br> 3.72%, 12/10/2049(6) | &nbsp;&nbsp; 843000 | &nbsp;&nbsp;&nbsp;&nbsp; 818651 |
| &nbsp;&nbsp;&nbsp;COLT Mtg. Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-5, Class A1<br> 5.12%, 08/25/2069\*(5) | &nbsp;&nbsp; 1782047 | &nbsp;&nbsp;&nbsp;&nbsp; 1770123 |
| &nbsp;&nbsp;&nbsp;COMM Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-COR2, Class A3<br> 3.51%, 09/10/2050 | &nbsp;&nbsp; 5110000 | &nbsp;&nbsp;&nbsp;&nbsp; 4965230 |
| &nbsp;&nbsp;&nbsp;COMM Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-HOME, Class A<br> 3.82%, 04/10/2033\*(6) | &nbsp;&nbsp; 1790000 | &nbsp;&nbsp;&nbsp;&nbsp; 1740355 |
| &nbsp;&nbsp;&nbsp;DBWF Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-LCM, Class A1<br> 3.00%, 06/10/2034\* | &nbsp;&nbsp; 147067 | &nbsp;&nbsp;&nbsp;&nbsp; 144115 |
| &nbsp;&nbsp;&nbsp;DBWF Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-LCM, Class A2<br> 3.42%, 06/10/2034\*(6) | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 957342 |
| &nbsp;&nbsp;&nbsp;Deephaven Residential Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class A1<br> 5.74%, 07/25/2069\*(5) | &nbsp;&nbsp; 3358299 | &nbsp;&nbsp;&nbsp;&nbsp; 3366940 |
| &nbsp;&nbsp;&nbsp;DSLA Mtg. Loan Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-AR3, Class 2A2A<br> 5.21%, (TSFR1M+0.85%), 07/19/2044 | &nbsp;&nbsp; 319560 | &nbsp;&nbsp;&nbsp;&nbsp; 303974 |
| &nbsp;&nbsp;&nbsp;ELM Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-ELM, Class C10<br> 6.19%, 06/10/2039\*(6) | &nbsp;&nbsp; 433675 | &nbsp;&nbsp;&nbsp;&nbsp; 435760 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** |
| **Commercial and Residential (continued)** | **Commercial and Residential (continued)** | **Commercial and Residential (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-ELM, Class C15<br> 6.19%, 06/10/2039\*(6) | $591167 | &nbsp;&nbsp;$594360 |
| &nbsp;&nbsp;&nbsp;GS Mtg.-Backed Securities Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SL1, Class A1<br> 5.85%, 11/25/2067\*(6) | &nbsp;&nbsp; 1953579 | &nbsp;&nbsp;&nbsp;&nbsp; 1960549 |
| &nbsp;&nbsp;&nbsp;GSR Mtg. Loan Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-7F, Class 3A1<br> 4.97%, (TSFR1M+0.61%), 09/25/2035 | &nbsp;&nbsp; 1987 | &nbsp;&nbsp;&nbsp;&nbsp; 1985 |
| &nbsp;&nbsp;&nbsp;ILPT Commercial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-LPF2, Class A<br> 5.29%, 07/13/2042\*(6) | &nbsp;&nbsp; 2218000 | &nbsp;&nbsp;&nbsp;&nbsp; 2239014 |
| &nbsp;&nbsp;&nbsp;IndyMac INDX Mtg. Loan Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-AR1, Class 1A1<br> 4.25%, 03/25/2035(6) | &nbsp;&nbsp; 40528 | &nbsp;&nbsp;&nbsp;&nbsp; 38672 |
| &nbsp;&nbsp;&nbsp;JPMorgan Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-A1, Class 1A1<br> 5.04%, 10/25/2033(6) | &nbsp;&nbsp; 73945 | &nbsp;&nbsp;&nbsp;&nbsp; 70350 |
| &nbsp;&nbsp;&nbsp;LFT CRE, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL1, Class C<br> 6.41%, (TSFR1M+2.06%), 06/15/2039\* | &nbsp;&nbsp; 2150000 | &nbsp;&nbsp;&nbsp;&nbsp; 2116576 |
| &nbsp;&nbsp;&nbsp;LoanCore Issuer LLC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CRE8, Class AS<br> 5.93%, (TSFR1M+1.59%), 08/17/2042\* | &nbsp;&nbsp; 4351500 | &nbsp;&nbsp;&nbsp;&nbsp; 4329756 |
| &nbsp;&nbsp;&nbsp;LoanCore Issuer, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-CRE5, Class AS<br> 6.21%, (TSFR1M+1.86%), 07/15/2036\* | &nbsp;&nbsp; 3077500 | &nbsp;&nbsp;&nbsp;&nbsp; 3076619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-CRE5, Class B<br> 6.46%, (TSFR1M+2.11%), 07/15/2036\* | &nbsp;&nbsp; 1115000 | &nbsp;&nbsp;&nbsp;&nbsp; 1112240 |
| &nbsp;&nbsp;&nbsp;Merrill Lynch Mtg. Investors Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-F, Class A1<br> 5.11%, (TSFR1M+0.75%), 10/25/2028 | &nbsp;&nbsp; 38300 | &nbsp;&nbsp;&nbsp;&nbsp; 37286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-G, Class A2<br> 5.38%, (TSFR6M+1.11%), 01/25/2029 | &nbsp;&nbsp; 120918 | &nbsp;&nbsp;&nbsp;&nbsp; 118604 |
| &nbsp;&nbsp;&nbsp;MF1 LLC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-FL19, Class A<br> 5.84%, (TSFR1M+1.49%), 05/18/2042\* | &nbsp;&nbsp; 2337221 | &nbsp;&nbsp;&nbsp;&nbsp; 2350366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-FL17, Class AS<br> 5.92%, (TSFR1M+1.57%), 02/18/2040\* | &nbsp;&nbsp; 2216049 | &nbsp;&nbsp;&nbsp;&nbsp; 2210511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-FL17, Class B<br> 6.14%, (TSFR1M+1.79%), 02/18/2040\* | &nbsp;&nbsp; 1401955 | &nbsp;&nbsp;&nbsp;&nbsp; 1398449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-FL16, Class AS<br> 6.29%, (TSFR1M+1.94%), 11/18/2039\* | &nbsp;&nbsp; 2541544 | &nbsp;&nbsp;&nbsp;&nbsp; 2543128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-FL14, Class AS<br> 6.59%, (TSFR1M+2.24%), 03/19/2039\* | &nbsp;&nbsp; 2090344 | &nbsp;&nbsp;&nbsp;&nbsp; 2095571 |
| &nbsp;&nbsp;&nbsp;MF1 Multifamily Housing Mtg. Loan Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL5, Class C<br> 6.16%, (TSFR1M+1.81%), 07/15/2036\* | &nbsp;&nbsp; 1348500 | &nbsp;&nbsp;&nbsp;&nbsp; 1333618 |
| &nbsp;&nbsp;&nbsp;MF1, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-FL15, Class AS<br> 6.39%, (TSFR1M+2.04%), 08/18/2041\* | &nbsp;&nbsp; 2321000 | &nbsp;&nbsp;&nbsp;&nbsp; 2322452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-FL8, Class C<br> 6.55%, (TSFR1M+2.20%), 02/19/2037\* | &nbsp;&nbsp; 1327832 | &nbsp;&nbsp;&nbsp;&nbsp; 1321296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-FL4, Class AS<br> 6.56%, (TSFR1M+2.21%), 12/15/2035\* | &nbsp;&nbsp; 1334500 | &nbsp;&nbsp;&nbsp;&nbsp; 1334501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-FL8, Class D<br> 7.00%, (TSFR1M+2.65%), 02/19/2037\* | &nbsp;&nbsp; 767466 | &nbsp;&nbsp;&nbsp;&nbsp; 758449 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Residential Mtg. Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM4, Class A1<br> 5.59%, 06/25/2070\*(5) | &nbsp;&nbsp; 1724912 | &nbsp;&nbsp;&nbsp;&nbsp; 1726458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-NQM1, Class A1<br> 6.15%, 12/25/2068\*(5) | &nbsp;&nbsp; 1339591 | &nbsp;&nbsp;&nbsp;&nbsp; 1345663 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Commercial and Residential (continued)** | **Commercial and Residential (continued)** | **Commercial and Residential (continued)** |
| &nbsp;&nbsp;&nbsp;MRCD Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-PARK, Class A<br> 2.72%, 12/15/2036\* | $1920000 | &nbsp;&nbsp;$1689600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-PARK, Class D<br> 2.72%, 12/15/2036\* | &nbsp;&nbsp; 1242000 | &nbsp;&nbsp;&nbsp;&nbsp; 902437 |
| &nbsp;&nbsp;&nbsp;MSWF Commercial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-2, Class A5<br> 6.01%, 12/15/2056(6) | &nbsp;&nbsp; 1808281 | &nbsp;&nbsp;&nbsp;&nbsp; 1926577 |
| &nbsp;&nbsp;&nbsp;New Residential Mtg. Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RTL2, Class A1<br> 5.44%, 09/25/2039\*(5) | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1195293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RTL1, Class A1<br> 6.66%, 03/25/2039\*(5) | &nbsp;&nbsp; 1585000 | &nbsp;&nbsp;&nbsp;&nbsp; 1595018 |
| &nbsp;&nbsp;&nbsp;New Residential Mtg. Loan Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM4, Class A1<br> 5.35%, 07/25/2065\*(6) | &nbsp;&nbsp; 4555197 | &nbsp;&nbsp;&nbsp;&nbsp; 4547844 |
| &nbsp;&nbsp;&nbsp;OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-NQM15, Class A1<br> 5.32%, 10/25/2064\*(5) | &nbsp;&nbsp; 1013625 | &nbsp;&nbsp;&nbsp;&nbsp; 1008599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-NQM9, Class A1<br> 6.03%, 01/25/2064\*(5) | &nbsp;&nbsp; 1417045 | &nbsp;&nbsp;&nbsp;&nbsp; 1426005 |
| &nbsp;&nbsp;&nbsp;PFP, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-11, Class A<br> 6.17%, (TSFR1M+1.83%), 09/17/2039\* | &nbsp;&nbsp; 2667893 | &nbsp;&nbsp;&nbsp;&nbsp; 2671228 |
| &nbsp;&nbsp;&nbsp;PRPM LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-RCF2, Class A1<br> 4.00%, 11/25/2053\*(5) | &nbsp;&nbsp; 413143 | &nbsp;&nbsp;&nbsp;&nbsp; 404622 |
| &nbsp;&nbsp;&nbsp;Ready Capital Mtg. Financing LLC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL7, Class C<br> 6.67%, (TSFR1M+2.31%), 11/25/2036\* | &nbsp;&nbsp; 720000 | &nbsp;&nbsp;&nbsp;&nbsp; 716342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL7, Class D<br> 7.42%, (TSFR1M+3.06%), 11/25/2036\* | &nbsp;&nbsp; 845000 | &nbsp;&nbsp;&nbsp;&nbsp; 840726 |
| &nbsp;&nbsp;&nbsp;ROCK Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CNTR, Class A<br> 5.39%, 11/13/2041\* | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 661978 |
| &nbsp;&nbsp;&nbsp;Sequoia Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-9, Class A1<br> 5.15%, (TSFR1M+0.79%), 10/20/2034 | &nbsp;&nbsp; 215408 | &nbsp;&nbsp;&nbsp;&nbsp; 196821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-1, Class 1A<br> 5.23%, (TSFR1M+0.87%), 04/20/2033 | &nbsp;&nbsp; 184437 | &nbsp;&nbsp;&nbsp;&nbsp; 172976 |
| &nbsp;&nbsp;&nbsp;SLG Office Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-OVA, Class A<br> 2.59%, 07/15/2041\* | &nbsp;&nbsp; 2010000 | &nbsp;&nbsp;&nbsp;&nbsp; 1757017 |
| &nbsp;&nbsp;&nbsp;Starwood Commercial Mtg., Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-FL3, Class B<br> 6.29%, (SOFR30A+1.95%), 11/15/2038\* | &nbsp;&nbsp; 759000 | &nbsp;&nbsp;&nbsp;&nbsp; 751410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-FL3, Class C<br> 6.54%, (SOFR30A+2.20%), 11/15/2038\* | &nbsp;&nbsp; 1436000 | &nbsp;&nbsp;&nbsp;&nbsp; 1421640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL2, Class C<br> 6.56%, (TSFR1M+2.21%), 04/18/2038\* | &nbsp;&nbsp; 1072500 | &nbsp;&nbsp;&nbsp;&nbsp; 1059700 |
| &nbsp;&nbsp;&nbsp;Structured Asset Mtg. Investments II Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-AR5, Class A3<br> 4.97%, (TSFR1M+0.61%), 07/19/2035 | &nbsp;&nbsp; 108265 | &nbsp;&nbsp;&nbsp;&nbsp; 105829 |
| &nbsp;&nbsp;&nbsp;Thornburg Mtg. Securities Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-4, Class 3A<br> 5.58%, 12/25/2044(6) | &nbsp;&nbsp; 31014 | &nbsp;&nbsp;&nbsp;&nbsp; 29926 |
| &nbsp;&nbsp;&nbsp;Toorak Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RRTL1, Class A1<br> 5.52%, 02/25/2040\*(5) | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp;&nbsp;&nbsp; 1395826 |
| &nbsp;&nbsp;&nbsp;Towd Point Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-R1, Class A1<br> 2.92%, 11/30/2060\*(6) | &nbsp;&nbsp; 2505309 | &nbsp;&nbsp;&nbsp;&nbsp; 2201260 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** |
| **Commercial and Residential (continued)** | **Commercial and Residential (continued)** | **Commercial and Residential (continued)** |
| &nbsp;&nbsp;&nbsp;UBS Commercial Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-C8, Class A4<br> 3.98%, 02/15/2051 | $2736930 | &nbsp;&nbsp;$2676142 |
| &nbsp;&nbsp;&nbsp;Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class A1<br> 5.71%, 01/25/2069\*(5) | &nbsp;&nbsp; 722923 | &nbsp;&nbsp;&nbsp;&nbsp; 722964 |
| &nbsp;&nbsp;&nbsp;Verus Securitization Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-8, Class A1<br> 5.36%, 10/25/2069\*(6) | &nbsp;&nbsp; 600567 | &nbsp;&nbsp;&nbsp;&nbsp; 599242 |
| &nbsp;&nbsp;&nbsp;WaMu Mtg. Pass-Through Certs. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-AR6, Class 2A1A<br> 4.93%, (TSFR1M+0.57%), 04/25/2045 | &nbsp;&nbsp; 12646 | &nbsp;&nbsp;&nbsp;&nbsp; 12827 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C34, Class A4<br> 3.10%, 06/15/2049 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1080471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C42, Class A4<br> 3.59%, 12/15/2050 | &nbsp;&nbsp; 1910000 | &nbsp;&nbsp;&nbsp;&nbsp; 1851326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-LC25, Class A4<br> 3.64%, 12/15/2059 | &nbsp;&nbsp; 5195581 | &nbsp;&nbsp;&nbsp;&nbsp; 5103165 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140614883 |
| **U.S. Government Agency — 3.6%** | **U.S. Government Agency — 3.6%** | **U.S. Government Agency — 3.6%** |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. Multifamily Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-K59, Class B<br> 3.57%, 11/25/2049\*(6) | &nbsp;&nbsp; 690000 | &nbsp;&nbsp;&nbsp;&nbsp; 677345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-W5FX, Class BFX<br> 3.66%, 04/25/2028\*(6) | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1885904 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. Multifamily Structured Pass Through Certs. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K146, Class A2<br> 2.92%, 06/25/2032 | &nbsp;&nbsp; 2225000 | &nbsp;&nbsp;&nbsp;&nbsp; 2019531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K065, Class A2<br> 3.24%, 04/25/2027 | &nbsp;&nbsp; 776000 | &nbsp;&nbsp;&nbsp;&nbsp; 762028 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. Multifamily Structured Pass Through Certs. VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K097, Class X1<br> 1.08%, 07/25/2029(6)(8) | &nbsp;&nbsp; 1874115 | &nbsp;&nbsp;&nbsp;&nbsp; 67924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K098, Class X1<br> 1.14%, 08/25/2029(6)(8) | &nbsp;&nbsp; 3257462 | &nbsp;&nbsp;&nbsp;&nbsp; 126312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K110, Class XAM<br> 1.84%, 04/25/2030(6)(8) | &nbsp;&nbsp; 914237 | &nbsp;&nbsp;&nbsp;&nbsp; 69073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series W5FX, Class AFX<br> 3.21%, 04/25/2028(6) | &nbsp;&nbsp; 719000 | &nbsp;&nbsp;&nbsp;&nbsp; 700097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K070, Class A2<br> 3.30%, 11/25/2027(6) | &nbsp;&nbsp; 681000 | &nbsp;&nbsp;&nbsp;&nbsp; 666985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K-150, Class A2<br> 3.71%, 09/25/2032(6) | &nbsp;&nbsp; 1895000 | &nbsp;&nbsp;&nbsp;&nbsp; 1800427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K077, Class AM<br> 3.85%, 05/25/2028(6) | &nbsp;&nbsp; 2745000 | &nbsp;&nbsp;&nbsp;&nbsp; 2710083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K081, Class A2<br> 3.90%, 08/25/2028(6) | &nbsp;&nbsp; 1255000 | &nbsp;&nbsp;&nbsp;&nbsp; 1242999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K-160, Class A2<br> 4.50%, 08/25/2033(6) | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1985896 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 3382, Class OA<br> Zero Coupon, 11/15/2037(9) | &nbsp;&nbsp; 206563 | &nbsp;&nbsp;&nbsp;&nbsp; 171178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 3582, Class MO<br> Zero Coupon, 10/15/2039(9) | &nbsp;&nbsp; 208233 | &nbsp;&nbsp;&nbsp;&nbsp; 185982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 4371, Class GZ<br> 2.00%, 05/15/2042 | &nbsp;&nbsp; 1351269 | &nbsp;&nbsp;&nbsp;&nbsp; 1208088 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 5190, Class EC<br> 2.00%, 12/25/2051 | $1632314 | &nbsp;&nbsp;$1448795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 4474, Class HJ<br> 3.00%, 07/15/2039 | &nbsp;&nbsp; 52766 | &nbsp;&nbsp;&nbsp;&nbsp; 50286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 4623, Class WI<br> 4.00%, 08/15/2044(8) | &nbsp;&nbsp; 23797 | &nbsp;&nbsp;&nbsp;&nbsp; 2117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 4471, Class PI<br> 4.50%, 12/15/2040(8) | &nbsp;&nbsp; 9810 | &nbsp;&nbsp;&nbsp;&nbsp; 907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2691, Class ZU<br> 5.50%, 09/15/2033 | &nbsp;&nbsp; 689166 | &nbsp;&nbsp;&nbsp;&nbsp; 708907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 3845, Class AI<br> 5.50%, 02/15/2036(8) | &nbsp;&nbsp; 24881 | &nbsp;&nbsp;&nbsp;&nbsp; 3953 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. REMIC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 4077, Class MF<br> 4.95%, (SOFR30A+0.61%), 07/15/2042 | &nbsp;&nbsp; 97900 | &nbsp;&nbsp;&nbsp;&nbsp; 96667 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. SCRT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-4, Class MV<br> 3.00%, 02/25/2059 | &nbsp;&nbsp; 186756 | &nbsp;&nbsp;&nbsp;&nbsp; 159948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1, Class MT<br> 3.00%, 10/25/2062 | &nbsp;&nbsp; 1762524 | &nbsp;&nbsp;&nbsp;&nbsp; 1463901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1, Class MTU<br> 3.25%, 11/25/2061 | &nbsp;&nbsp; 2183499 | &nbsp;&nbsp;&nbsp;&nbsp; 1863054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-1, Class M60C<br> 3.50%, 05/25/2057 | &nbsp;&nbsp; 1852331 | &nbsp;&nbsp;&nbsp;&nbsp; 1705326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-1, Class MT<br> 3.50%, 07/25/2058 | &nbsp;&nbsp; 1036785 | &nbsp;&nbsp;&nbsp;&nbsp; 912263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-2, Class MA<br> 3.50%, 08/26/2058 | &nbsp;&nbsp; 1863297 | &nbsp;&nbsp;&nbsp;&nbsp; 1779073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-3, Class MB<br> 3.50%, 10/25/2058 | &nbsp;&nbsp; 788583 | &nbsp;&nbsp;&nbsp;&nbsp; 638487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-3, Class MV<br> 3.50%, 10/25/2058 | &nbsp;&nbsp; 176341 | &nbsp;&nbsp;&nbsp;&nbsp; 164057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2, Class MT<br> 3.50%, 05/25/2064 | &nbsp;&nbsp; 2090891 | &nbsp;&nbsp;&nbsp;&nbsp; 1786788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-2, Class M55D<br> 4.00%, 11/25/2057 | &nbsp;&nbsp; 1363738 | &nbsp;&nbsp;&nbsp;&nbsp; 1273663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-4, Class M55D<br> 4.00%, 02/25/2059 | &nbsp;&nbsp; 735927 | &nbsp;&nbsp;&nbsp;&nbsp; 683016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-2, Class M5TU<br> 4.00%, 04/25/2062 | &nbsp;&nbsp; 2223973 | &nbsp;&nbsp;&nbsp;&nbsp; 2061018 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 08/15/2042 | &nbsp;&nbsp; 359197 | &nbsp;&nbsp;&nbsp;&nbsp; 325374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 01/15/2044 | &nbsp;&nbsp; 141457 | &nbsp;&nbsp;&nbsp;&nbsp; 126322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 07/15/2042 | &nbsp;&nbsp; 742095 | &nbsp;&nbsp;&nbsp;&nbsp; 691564 |
| &nbsp;&nbsp;&nbsp;Federal National Mtg. Assoc. Grantor Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-T1, Class A<br> 2.90%, 06/25/2027 | &nbsp;&nbsp; 1507622 | &nbsp;&nbsp;&nbsp;&nbsp; 1463896 |
| &nbsp;&nbsp;&nbsp;Federal National Mtg. Assoc. REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2008-11, Class DO<br> Zero Coupon, 03/25/2038(9) | &nbsp;&nbsp; 296760 | &nbsp;&nbsp;&nbsp;&nbsp; 258645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-M50, Class A2<br> 1.20%, 10/25/2030 | &nbsp;&nbsp; 328565 | &nbsp;&nbsp;&nbsp;&nbsp; 310780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-M38, Class 2A1<br> 1.59%, 11/25/2028 | &nbsp;&nbsp; 249496 | &nbsp;&nbsp;&nbsp;&nbsp; 231388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-19, Class AD<br> 2.00%, 04/25/2046 | &nbsp;&nbsp; 79243 | &nbsp;&nbsp;&nbsp;&nbsp; 73229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-1, Class YI<br> 3.00%, 02/25/2033(8) | &nbsp;&nbsp; 87666 | &nbsp;&nbsp;&nbsp;&nbsp; 6227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-64, Class KI<br> 3.00%, 02/25/2033(8) | &nbsp;&nbsp; 19022 | &nbsp;&nbsp;&nbsp;&nbsp; 1106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-38, Class NA<br> 3.00%, 01/25/2046 | &nbsp;&nbsp; 223194 | &nbsp;&nbsp;&nbsp;&nbsp; 209220 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** |
| **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-43, Class AH<br> 3.25%, 05/25/2040 | $37627 | &nbsp;&nbsp;$35648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-10, Class KM<br> 3.50%, 09/25/2043 | &nbsp;&nbsp; 79142 | &nbsp;&nbsp;&nbsp;&nbsp; 76978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-35, Class CA<br> 3.50%, 06/25/2044 | &nbsp;&nbsp; 50773 | &nbsp;&nbsp;&nbsp;&nbsp; 49573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-7, Class CA<br> 3.50%, 11/25/2057 | &nbsp;&nbsp; 618043 | &nbsp;&nbsp;&nbsp;&nbsp; 592734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-113, Class GB<br> 4.00%, 10/25/2040 | &nbsp;&nbsp; 52442 | &nbsp;&nbsp;&nbsp;&nbsp; 51641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-40, Class IQ<br> 4.00%, 07/25/2046(8) | &nbsp;&nbsp; 144980 | &nbsp;&nbsp;&nbsp;&nbsp; 26673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-47, Class MB<br> 5.00%, 09/25/2039 | &nbsp;&nbsp; 513571 | &nbsp;&nbsp;&nbsp;&nbsp; 522977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-93, Class PZ<br> 5.50%, 10/25/2035 | &nbsp;&nbsp; 1245766 | &nbsp;&nbsp;&nbsp;&nbsp; 1292096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2002-56, Class ZQ<br> 6.00%, 09/25/2032 | &nbsp;&nbsp; 110834 | &nbsp;&nbsp;&nbsp;&nbsp; 114096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-109, Class GE<br> 6.00%, 12/25/2035 | &nbsp;&nbsp; 1210376 | &nbsp;&nbsp;&nbsp;&nbsp; 1229387 |
| &nbsp;&nbsp;&nbsp;Federal National Mtg. Assoc. REMIC VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-M3, Class A2<br> 1.71%, 11/25/2031(6) | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp;&nbsp;&nbsp; 2030677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-M50, Class X1<br> 1.82%, 10/25/2030(6)(8) | &nbsp;&nbsp; 5100774 | &nbsp;&nbsp;&nbsp;&nbsp; 203658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-M3, Class X1<br> 1.90%, 11/25/2033(6)(8) | &nbsp;&nbsp; 4324866 | &nbsp;&nbsp;&nbsp;&nbsp; 281247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-M38, Class X2<br> 1.97%, 11/25/2028(6)(8) | &nbsp;&nbsp; 1969336 | &nbsp;&nbsp;&nbsp;&nbsp; 84458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-M1S, Class A2<br> 2.08%, 04/25/2032(6) | &nbsp;&nbsp; 2470000 | &nbsp;&nbsp;&nbsp;&nbsp; 2129237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-M3, Class A2<br> 2.46%, 12/25/2026(6) | &nbsp;&nbsp; 218037 | &nbsp;&nbsp;&nbsp;&nbsp; 212408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-M5, Class A2<br> 3.01%, 04/25/2029(6) | &nbsp;&nbsp; 568548 | &nbsp;&nbsp;&nbsp;&nbsp; 546248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-M8, Class A2<br> 3.06%, 05/25/2027(6) | &nbsp;&nbsp; 823230 | &nbsp;&nbsp;&nbsp;&nbsp; 804971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-M12, Class A2<br> 3.06%, 06/25/2027(6) | &nbsp;&nbsp; 730659 | &nbsp;&nbsp;&nbsp;&nbsp; 713384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-M4, Class A2<br> 3.06%, 03/25/2028(6) | &nbsp;&nbsp; 597895 | &nbsp;&nbsp;&nbsp;&nbsp; 579703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-M3, Class A2<br> 3.06%, 02/25/2030(6) | &nbsp;&nbsp; 407886 | &nbsp;&nbsp;&nbsp;&nbsp; 387915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-M10, Class A2<br> 3.09%, 04/25/2027(6) | &nbsp;&nbsp; 723755 | &nbsp;&nbsp;&nbsp;&nbsp; 709185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-M10, Class A2<br> 3.35%, 07/25/2028(6) | &nbsp;&nbsp; 1467800 | &nbsp;&nbsp;&nbsp;&nbsp; 1432434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-M2S, Class A2<br> 3.76%, 08/25/2032(6) | &nbsp;&nbsp; 1650000 | &nbsp;&nbsp;&nbsp;&nbsp; 1567126 |
| &nbsp;&nbsp;&nbsp;Government National Mtg. Assoc. REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-157, Class OP<br> Zero Coupon, 12/20/2040(9) | &nbsp;&nbsp; 64466 | &nbsp;&nbsp;&nbsp;&nbsp; 54874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-77, Class PA<br> 1.00%, 08/20/2050 | &nbsp;&nbsp; 1019127 | &nbsp;&nbsp;&nbsp;&nbsp; 773671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-123, Class MA<br> 4.00%, 07/20/2041 | &nbsp;&nbsp; 76088 | &nbsp;&nbsp;&nbsp;&nbsp; 73560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-12, Class KN<br> 4.50%, 09/20/2041 | &nbsp;&nbsp; 50047 | &nbsp;&nbsp;&nbsp;&nbsp; 49990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-55, Class Z<br> 4.75%, 07/20/2035 | &nbsp;&nbsp; 1002379 | &nbsp;&nbsp;&nbsp;&nbsp; 995847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-92, Class ZC<br> 5.00%, 10/20/2039 | &nbsp;&nbsp; 464657 | &nbsp;&nbsp;&nbsp;&nbsp; 465023 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-105, Class B<br> 5.00%, 08/20/2040 | $448884 | &nbsp;&nbsp;$450160 |
| &nbsp;&nbsp;&nbsp;Government National Mtg. Assoc. REMIC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-H15, Class FJ<br> 4.88%, (TSFR1M+0.55%), 06/20/2065 | &nbsp;&nbsp; 170845 | &nbsp;&nbsp;&nbsp;&nbsp; 170974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-H16, Class FG<br> 4.88%, (TSFR1M+0.55%), 07/20/2065 | &nbsp;&nbsp; 406115 | &nbsp;&nbsp;&nbsp;&nbsp; 406411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-H16, Class FL<br> 4.88%, (TSFR1M+0.55%), 07/20/2065 | &nbsp;&nbsp; 682647 | &nbsp;&nbsp;&nbsp;&nbsp; 683149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-H06, Class FA<br> 4.89%, (TSFR1M+0.56%), 02/20/2061 | &nbsp;&nbsp; 181410 | &nbsp;&nbsp;&nbsp;&nbsp; 181598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-H05, Class FC<br> 4.92%, (TSFR1M+0.59%), 02/20/2065 | &nbsp;&nbsp; 1018599 | &nbsp;&nbsp;&nbsp;&nbsp; 1019798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-H06, Class FA<br> 4.92%, (TSFR1M+0.59%), 02/20/2065 | &nbsp;&nbsp; 515933 | &nbsp;&nbsp;&nbsp;&nbsp; 516625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-H07, Class ES<br> 4.92%, (TSFR1M+0.58%), 02/20/2065 | &nbsp;&nbsp; 275949 | &nbsp;&nbsp;&nbsp;&nbsp; 276310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-H08, Class FC<br> 4.92%, (TSFR1M+0.59%), 03/20/2065 | &nbsp;&nbsp; 1290780 | &nbsp;&nbsp;&nbsp;&nbsp; 1292351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-H12, Class FA<br> 4.92%, (TSFR1M+0.59%), 05/20/2065 | &nbsp;&nbsp; 474531 | &nbsp;&nbsp;&nbsp;&nbsp; 475064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-H18, Class EA<br> 4.94%, (TSFR1M+0.61%), 07/20/2063 | &nbsp;&nbsp; 29040 | &nbsp;&nbsp;&nbsp;&nbsp; 29103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-H23, Class FB<br> 4.96%, (TSFR1M+0.63%), 09/20/2065 | &nbsp;&nbsp; 289183 | &nbsp;&nbsp;&nbsp;&nbsp; 289658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-H26, Class FG<br> 4.96%, (TSFR1M+0.63%), 10/20/2065 | &nbsp;&nbsp; 227682 | &nbsp;&nbsp;&nbsp;&nbsp; 228085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-H08, Class FB<br> 5.04%, (TSFR1M+0.71%), 03/20/2062 | &nbsp;&nbsp; 98468 | &nbsp;&nbsp;&nbsp;&nbsp; 98776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-H09, Class TA<br> 5.04%, (TSFR1M+0.71%), 04/20/2064 | &nbsp;&nbsp; 49344 | &nbsp;&nbsp;&nbsp;&nbsp; 49544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-H29, Class FL<br> 5.04%, (TSFR1M+0.71%), 11/20/2065 | &nbsp;&nbsp; 716811 | &nbsp;&nbsp;&nbsp;&nbsp; 718516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-H30, Class FE<br> 5.04%, (TSFR1M+0.71%), 11/20/2065 | &nbsp;&nbsp; 954257 | &nbsp;&nbsp;&nbsp;&nbsp; 956557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-H32, Class FH<br> 5.10%, (TSFR1M+0.77%), 12/20/2065 | &nbsp;&nbsp; 236920 | &nbsp;&nbsp;&nbsp;&nbsp; 237677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-H26, Class FC<br> 5.44%, (TSFR1M+1.11%), 12/20/2066 | &nbsp;&nbsp; 153990 | &nbsp;&nbsp;&nbsp;&nbsp; 154740 |
| &nbsp;&nbsp;&nbsp;Government National Mtg. Assoc. REMIC VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-137, Class W<br> 5.23%, 10/20/2040(6) | &nbsp;&nbsp; 476524 | &nbsp;&nbsp;&nbsp;&nbsp; 490387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-137, Class WA<br> 5.55%, 01/20/2038(6) | &nbsp;&nbsp; 14877 | &nbsp;&nbsp;&nbsp;&nbsp; 15290 |
| &nbsp;&nbsp;&nbsp;Seasoned Loans Structured Transaction Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1, Class A1<br> 3.00%, 05/25/2035 | &nbsp;&nbsp; 2169752 | &nbsp;&nbsp;&nbsp;&nbsp; 1983728 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65591749 |
| **Total Collateralized Mortgage Obligations<br> (cost $212,596,968)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206206632 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 46.9%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 46.9%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 46.9%** |
| **U.S. Government — 28.0%** | **U.S. Government — 28.0%** | **U.S. Government — 28.0%** |
| &nbsp;&nbsp;&nbsp;United States Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13%, 05/15/2040 | &nbsp;&nbsp; 515000 | &nbsp;&nbsp;&nbsp;&nbsp; 317952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38%, 11/15/2040(10) | &nbsp;&nbsp;17380000 | &nbsp;&nbsp;&nbsp;&nbsp; 11009823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.63%, 11/15/2050 | &nbsp;&nbsp; 2825000 | &nbsp;&nbsp;&nbsp;&nbsp; 1466903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 08/15/2041 | &nbsp;&nbsp; 6050000 | &nbsp;&nbsp;&nbsp;&nbsp; 3983783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.88%, 02/15/2041 to 11/15/2051 | &nbsp;&nbsp;16502800 | &nbsp;&nbsp;&nbsp;&nbsp; 10264187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 08/15/2051 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp;&nbsp;&nbsp; 1363313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 05/15/2041 to 02/15/2052 | &nbsp;&nbsp;12220000 | &nbsp;&nbsp;&nbsp;&nbsp; 7730749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 02/15/2042 to 11/15/2049 | &nbsp;&nbsp;14100000 | &nbsp;&nbsp;&nbsp;&nbsp; 9919701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 08/15/2042 | &nbsp;&nbsp; 4100000 | &nbsp;&nbsp;&nbsp;&nbsp; 3105109 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** |
| **U.S. Government (continued)** | **U.S. Government (continued)** | **U.S. Government (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 05/15/2043 to 05/15/2052 | $6954000 | &nbsp;&nbsp;$5140626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 11/15/2044 to 08/15/2052 | &nbsp;&nbsp; 7503000 | &nbsp;&nbsp;&nbsp;&nbsp; 5393582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 02/15/2043 | &nbsp;&nbsp; 4020000 | &nbsp;&nbsp;&nbsp;&nbsp; 3197941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 05/15/2044 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2845664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 02/15/2039 | &nbsp;&nbsp; 351200 | &nbsp;&nbsp;&nbsp;&nbsp; 314091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 08/15/2043 to 02/15/2053 | &nbsp;&nbsp;13698000 | &nbsp;&nbsp;&nbsp;&nbsp; 11269070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 11/15/2043 | &nbsp;&nbsp; 9944000 | &nbsp;&nbsp;&nbsp;&nbsp; 8587188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 08/15/2040 to 05/15/2043 | &nbsp;&nbsp; 7900000 | &nbsp;&nbsp;&nbsp;&nbsp; 7175299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 11/15/2040 to 08/15/2054 | &nbsp;&nbsp;23108000 | &nbsp;&nbsp;&nbsp;&nbsp; 20802082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 02/15/2038 to 08/15/2043 | &nbsp;&nbsp;20860000 | &nbsp;&nbsp;&nbsp;&nbsp; 19679363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 02/15/2044 to 11/15/2054 | &nbsp;&nbsp;27760000 | &nbsp;&nbsp;&nbsp;&nbsp; 26509437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 11/15/2044 | &nbsp;&nbsp; 2785000 | &nbsp;&nbsp;&nbsp;&nbsp; 2694052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 11/15/2043 to 11/15/2053 | &nbsp;&nbsp; 8650000 | &nbsp;&nbsp;&nbsp;&nbsp; 8524937 |
| &nbsp;&nbsp;&nbsp;United States Treasury Bonds TIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 01/15/2028(11) | &nbsp;&nbsp; 1795201 | &nbsp;&nbsp;&nbsp;&nbsp; 1815257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 01/15/2029(11) | &nbsp;&nbsp; 5704256 | &nbsp;&nbsp;&nbsp;&nbsp; 5929662 |
| &nbsp;&nbsp;&nbsp;United States Treasury Bonds STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zero Coupon, 11/15/2029 to 02/15/2041 | &nbsp;&nbsp;56343724 | &nbsp;&nbsp;&nbsp;&nbsp; 40352081 |
| &nbsp;&nbsp;&nbsp;United States Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.63%, 12/31/2027 to 08/15/2030 | &nbsp;&nbsp;12705000 | &nbsp;&nbsp;&nbsp;&nbsp; 11705794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.25%, 08/15/2031 | &nbsp;&nbsp; 490000 | &nbsp;&nbsp;&nbsp;&nbsp; 416672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 02/15/2030 | &nbsp;&nbsp; 660000 | &nbsp;&nbsp;&nbsp;&nbsp; 594000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.63%, 05/15/2031 | &nbsp;&nbsp;18145000 | &nbsp;&nbsp;&nbsp;&nbsp; 15903100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.88%, 02/28/2029 | &nbsp;&nbsp; 3105000 | &nbsp;&nbsp;&nbsp;&nbsp; 2896747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 05/31/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 383594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 04/30/2029 to 05/15/2032 | &nbsp;&nbsp;29385000 | &nbsp;&nbsp;&nbsp;&nbsp; 27712070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 08/31/2029 | &nbsp;&nbsp; 2235000 | &nbsp;&nbsp;&nbsp;&nbsp; 2168561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 06/30/2029 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6832109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 02/15/2033 | &nbsp;&nbsp; 5300000 | &nbsp;&nbsp;&nbsp;&nbsp; 5066055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 04/15/2028 to 05/31/2030 | &nbsp;&nbsp;27600000 | &nbsp;&nbsp;&nbsp;&nbsp; 27459312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 04/30/2032 to 02/15/2034 | &nbsp;&nbsp;28631300 | &nbsp;&nbsp;&nbsp;&nbsp; 28202091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 07/31/2028 | &nbsp;&nbsp;65500000 | &nbsp;&nbsp;&nbsp;&nbsp; 65942637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 06/30/2029 to 11/15/2034 | &nbsp;&nbsp;84965000 | &nbsp;&nbsp;&nbsp;&nbsp; 85443531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 11/15/2033 | &nbsp;&nbsp;11525000 | &nbsp;&nbsp;&nbsp;&nbsp; 11729389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 10/31/2030 | &nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 218753 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512066267 |
| **U.S. Government Agency — 18.9%** | **U.S. Government Agency — 18.9%** | **U.S. Government Agency — 18.9%** |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 05/01/2037 to 03/01/2052 | &nbsp;&nbsp;17731675 | &nbsp;&nbsp;&nbsp;&nbsp; 14025329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 08/01/2036 to 07/01/2053 | &nbsp;&nbsp;11208282 | &nbsp;&nbsp;&nbsp;&nbsp; 9275259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 10/01/2037 to 10/01/2053 | &nbsp;&nbsp;18641974 | &nbsp;&nbsp;&nbsp;&nbsp; 16144312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 11/01/2037 to 05/01/2055 | &nbsp;&nbsp; 7039666 | &nbsp;&nbsp;&nbsp;&nbsp; 6387611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 08/01/2032 | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp;&nbsp;&nbsp; 2084164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 08/01/2037 to 03/01/2055 | &nbsp;&nbsp; 2878510 | &nbsp;&nbsp;&nbsp;&nbsp; 2701165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 07/01/2040 to 11/01/2052 | &nbsp;&nbsp; 3012117 | &nbsp;&nbsp;&nbsp;&nbsp; 2909647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 11/01/2035 to 02/01/2055 | &nbsp;&nbsp; 4573554 | &nbsp;&nbsp;&nbsp;&nbsp; 4463664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 06/01/2026 to 09/01/2053 | &nbsp;&nbsp; 3638621 | &nbsp;&nbsp;&nbsp;&nbsp; 3632424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 03/01/2054 | &nbsp;&nbsp; 340283 | &nbsp;&nbsp;&nbsp;&nbsp; 345038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 07/01/2054 to 09/01/2054 | &nbsp;&nbsp; 846706 | &nbsp;&nbsp;&nbsp;&nbsp; 877868 |
| &nbsp;&nbsp;&nbsp;Federal National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 02/01/2042 | &nbsp;&nbsp; 63508 | &nbsp;&nbsp;&nbsp;&nbsp; 51683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.93%, 11/01/2031 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp;&nbsp;&nbsp; 2239343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 01/01/2032 to 03/01/2052 | &nbsp;&nbsp;17895707 | &nbsp;&nbsp;&nbsp;&nbsp; 14738538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.42%, 10/01/2029 | &nbsp;&nbsp; 1836811 | &nbsp;&nbsp;&nbsp;&nbsp; 1700095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 11/01/2031 to 03/01/2062 | &nbsp;&nbsp;49227251 | &nbsp;&nbsp;&nbsp;&nbsp; 40888311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.83%, 05/01/2027 | &nbsp;&nbsp; 2352407 | &nbsp;&nbsp;&nbsp;&nbsp; 2293514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.92%, 02/01/2030 to 05/01/2030 | &nbsp;&nbsp; 3426353 | &nbsp;&nbsp;&nbsp;&nbsp; 3225878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.94%, 05/01/2030 | &nbsp;&nbsp; 1615988 | &nbsp;&nbsp;&nbsp;&nbsp; 1520746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.97%, 06/01/2030 | &nbsp;&nbsp; 1727610 | &nbsp;&nbsp;&nbsp;&nbsp; 1628355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 11/01/2028 to 06/01/2062 | &nbsp;&nbsp;30420991 | &nbsp;&nbsp;&nbsp;&nbsp; 26270629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.03%, 04/01/2030 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1887443 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.12%, 06/01/2035 | $1997274 | &nbsp;&nbsp;$1768902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.16%, 02/01/2032 | &nbsp;&nbsp; 2552038 | &nbsp;&nbsp;&nbsp;&nbsp; 2373948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 04/01/2038 to 06/01/2062 | &nbsp;&nbsp;14209315 | &nbsp;&nbsp;&nbsp;&nbsp; 12732758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.54%, 06/01/2032 | &nbsp;&nbsp; 2723000 | &nbsp;&nbsp;&nbsp;&nbsp; 2560190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.76%, 12/01/2035 | &nbsp;&nbsp; 1675310 | &nbsp;&nbsp;&nbsp;&nbsp; 1568882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.77%, 12/01/2025 | &nbsp;&nbsp; 680561 | &nbsp;&nbsp;&nbsp;&nbsp; 677138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.81%, 12/01/2028 | &nbsp;&nbsp; 920000 | &nbsp;&nbsp;&nbsp;&nbsp; 905990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.89%, 09/01/2032 | &nbsp;&nbsp; 2314000 | &nbsp;&nbsp;&nbsp;&nbsp; 2210128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 02/01/2033 | &nbsp;&nbsp; 2150000 | &nbsp;&nbsp;&nbsp;&nbsp; 2050449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.92%, 09/01/2032 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1922585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 01/01/2027 | &nbsp;&nbsp; 116559 | &nbsp;&nbsp;&nbsp;&nbsp; 115941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 01/01/2035 to 02/01/2055 | &nbsp;&nbsp; 7183302 | &nbsp;&nbsp;&nbsp;&nbsp; 6885518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.17%, 05/01/2033 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1455779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.22%, 10/01/2032 | &nbsp;&nbsp; 1664000 | &nbsp;&nbsp;&nbsp;&nbsp; 1624832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.31%, 06/01/2030 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2000273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.33%, 01/01/2033 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1963783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 03/01/2034 to 09/01/2052 | &nbsp;&nbsp; 5020257 | &nbsp;&nbsp;&nbsp;&nbsp; 4894341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.52%, 10/01/2033 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 794219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 09/01/2033 | &nbsp;&nbsp; 1982567 | &nbsp;&nbsp;&nbsp;&nbsp; 1975145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.59%, 04/01/2033 | &nbsp;&nbsp; 2083000 | &nbsp;&nbsp;&nbsp;&nbsp; 2069380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.74%, 02/01/2033 | &nbsp;&nbsp; 1915000 | &nbsp;&nbsp;&nbsp;&nbsp; 1919881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 12/01/2032 | &nbsp;&nbsp; 1266925 | &nbsp;&nbsp;&nbsp;&nbsp; 1285789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 03/01/2034 to 01/01/2054 | &nbsp;&nbsp; 8264612 | &nbsp;&nbsp;&nbsp;&nbsp; 8113361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.08%, 02/01/2030 | &nbsp;&nbsp; 1594132 | &nbsp;&nbsp;&nbsp;&nbsp; 1635812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.29%, 12/01/2032 | &nbsp;&nbsp; 1489375 | &nbsp;&nbsp;&nbsp;&nbsp; 1532769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 11/01/2025 to 05/01/2058 | &nbsp;&nbsp; 2471998 | &nbsp;&nbsp;&nbsp;&nbsp; 2502110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.54%, 03/01/2038 | &nbsp;&nbsp; 617799 | &nbsp;&nbsp;&nbsp;&nbsp; 635370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 02/01/2033 to 04/01/2055 | &nbsp;&nbsp; 5893690 | &nbsp;&nbsp;&nbsp;&nbsp; 5982512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 02/01/2053 | &nbsp;&nbsp; 491770 | &nbsp;&nbsp;&nbsp;&nbsp; 511627 |
| &nbsp;&nbsp;&nbsp;Federal National Mtg. Assoc. VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.51%, 11/01/2032(6) | &nbsp;&nbsp; 5401227 | &nbsp;&nbsp;&nbsp;&nbsp; 4430716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 03/01/2032(6) | &nbsp;&nbsp; 3087613 | &nbsp;&nbsp;&nbsp;&nbsp; 2627139 |
| &nbsp;&nbsp;&nbsp;Government National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 01/20/2052 to 03/20/2052 | &nbsp;&nbsp; 6673151 | &nbsp;&nbsp;&nbsp;&nbsp; 5388540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 08/20/2051 to 04/20/2052 | &nbsp;&nbsp;17059876 | &nbsp;&nbsp;&nbsp;&nbsp; 14354304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 11/20/2044 to 10/20/2052 | &nbsp;&nbsp;15282031 | &nbsp;&nbsp;&nbsp;&nbsp; 13394569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 10/20/2033 to 02/20/2052 | &nbsp;&nbsp; 7002982 | &nbsp;&nbsp;&nbsp;&nbsp; 6347213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, August 30 TBA | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp;&nbsp;&nbsp; 1617123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, September 30 TBA | &nbsp;&nbsp; 875000 | &nbsp;&nbsp;&nbsp;&nbsp; 783914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 12/20/2042 to 10/20/2052 | &nbsp;&nbsp; 9641852 | &nbsp;&nbsp;&nbsp;&nbsp; 8959200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 01/20/2045 to 06/20/2045 | &nbsp;&nbsp; 2604050 | &nbsp;&nbsp;&nbsp;&nbsp; 2457746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 04/15/2039 to 01/20/2053 | &nbsp;&nbsp; 9747549 | &nbsp;&nbsp;&nbsp;&nbsp; 9349327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 05/20/2052 to 06/20/2063 | &nbsp;&nbsp; 8472157 | &nbsp;&nbsp;&nbsp;&nbsp; 8261942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 12/15/2036 to 04/20/2055 | &nbsp;&nbsp; 6304962 | &nbsp;&nbsp;&nbsp;&nbsp; 6306604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 12/15/2032 | &nbsp;&nbsp; 3407 | &nbsp;&nbsp;&nbsp;&nbsp; 3405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, August 30 TBA | &nbsp;&nbsp; 675000 | &nbsp;&nbsp;&nbsp;&nbsp; 692821 |
| &nbsp;&nbsp;&nbsp;Government National Mtg. Assoc. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, (1 Yr USTYCR+1.65%), 04/20/2072 | &nbsp;&nbsp; 1982212 | &nbsp;&nbsp;&nbsp;&nbsp; 2063558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, (1 Yr USTYCR+1.64%), 05/20/2072 | &nbsp;&nbsp; 1828118 | &nbsp;&nbsp;&nbsp;&nbsp; 1903922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.67%, (1 Yr USTYCR+1.70%), 03/20/2072 | &nbsp;&nbsp; 1870413 | &nbsp;&nbsp;&nbsp;&nbsp; 1951394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.79%, (1 Yr USTYCR+1.83%), 08/20/2071 | &nbsp;&nbsp; 1953594 | &nbsp;&nbsp;&nbsp;&nbsp; 2044076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.79%, (1 Yr USTYCR+1.78%), 09/20/2071 | &nbsp;&nbsp; 1951302 | &nbsp;&nbsp;&nbsp;&nbsp; 2039426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.81%, 04/20/2072 to 07/20/2072 | &nbsp;&nbsp; 3850766 | &nbsp;&nbsp;&nbsp;&nbsp; 4037220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.97%, (1 Yr USTYCR+1.97%), 03/20/2072 | &nbsp;&nbsp; 1676276 | &nbsp;&nbsp;&nbsp;&nbsp; 1760370 |
| &nbsp;&nbsp;&nbsp;Resolution Funding Corp. STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zero Coupon, 01/15/2030 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 831180 |
| &nbsp;&nbsp;&nbsp;Small Business Administration |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-20D, Class 1<br> 2.08%, 04/01/2033 | &nbsp;&nbsp; 297895 | &nbsp;&nbsp;&nbsp;&nbsp; 274919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-20H, Class 1<br> 2.37%, 08/01/2032 | &nbsp;&nbsp; 142282 | &nbsp;&nbsp;&nbsp;&nbsp; 134134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-20F, Class 1<br> 2.45%, 06/01/2033 | &nbsp;&nbsp; 356677 | &nbsp;&nbsp;&nbsp;&nbsp; 332489 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** |
| **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-20G, Class 1<br> 3.15%, 07/01/2033 | $461386 | &nbsp;&nbsp;$439426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-20H, Class 1<br> 3.16%, 08/01/2033 | &nbsp;&nbsp; 538419 | &nbsp;&nbsp;&nbsp;&nbsp; 513721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-20I, Class 1<br> 3.62%, 09/01/2033 | &nbsp;&nbsp; 223028 | &nbsp;&nbsp;&nbsp;&nbsp; 215825 |
| &nbsp;&nbsp;&nbsp;Tennessee Valley Authority |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 09/15/2065 | &nbsp;&nbsp; 405000 | &nbsp;&nbsp;&nbsp;&nbsp; 322875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 09/15/2060 | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 205657 |
| &nbsp;&nbsp;&nbsp;Uniform Mtg. Backed Securities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, August 15 TBA | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2269285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, August 30 TBA | &nbsp;&nbsp; 1175000 | &nbsp;&nbsp;&nbsp;&nbsp; 918950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, September 30 TBA | &nbsp;&nbsp; 1175000 | &nbsp;&nbsp;&nbsp;&nbsp; 919455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, September 30 TBA | &nbsp;&nbsp; 1650000 | &nbsp;&nbsp;&nbsp;&nbsp; 1352367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, August 30 TBA | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51571 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345516811 |
| **Total U.S. Government & Agency Obligations<br> (cost $917,358,882)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;857583078 |
| **FOREIGN GOVERNMENT OBLIGATIONS — 0.3%** | **FOREIGN GOVERNMENT OBLIGATIONS — 0.3%** | **FOREIGN GOVERNMENT OBLIGATIONS — 0.3%** |
| **Sovereign — 0.3%** | **Sovereign — 0.3%** | **Sovereign — 0.3%** |
| &nbsp;&nbsp;&nbsp;Eagle Funding Luxco Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 08/17/2030\* | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp;&nbsp;&nbsp; 1707650 |
| &nbsp;&nbsp;&nbsp;Republic of Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55%, 01/27/2032 | &nbsp;&nbsp; 256000 | &nbsp;&nbsp;&nbsp;&nbsp; 224658 |
| &nbsp;&nbsp;&nbsp;Republic of Peru |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 11/18/2050 | &nbsp;&nbsp; 54000 | &nbsp;&nbsp;&nbsp;&nbsp; 51032 |
| &nbsp;&nbsp;&nbsp;Republic of Poland |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 03/18/2054 | &nbsp;&nbsp; 368000 | &nbsp;&nbsp;&nbsp;&nbsp; 344013 |
| &nbsp;&nbsp;&nbsp;United Mexican States |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.66%, 05/24/2031 | &nbsp;&nbsp; 541000 | &nbsp;&nbsp;&nbsp;&nbsp; 465974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.77%, 05/24/2061 | &nbsp;&nbsp; 398000 | &nbsp;&nbsp;&nbsp;&nbsp; 232631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40%, 02/12/2052 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 279400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 02/10/2048 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 297000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 03/08/2044 | &nbsp;&nbsp; 1080000 | &nbsp;&nbsp;&nbsp;&nbsp; 851040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 07/02/2032 | &nbsp;&nbsp; 771000 | &nbsp;&nbsp;&nbsp;&nbsp; 775626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 05/13/2030 | &nbsp;&nbsp; 347000 | &nbsp;&nbsp;&nbsp;&nbsp; 358451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.34%, 05/04/2053 | &nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 191835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 05/13/2037 | &nbsp;&nbsp; 513000 | &nbsp;&nbsp;&nbsp;&nbsp; 529416 |
| **Total Foreign Government Obligations<br> (cost $7,099,838)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6308726 |
| **MUNICIPAL SECURITIES — 0.7%** | **MUNICIPAL SECURITIES — 0.7%** | **MUNICIPAL SECURITIES — 0.7%** |
| &nbsp;&nbsp;&nbsp;Berks County Municipal Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 06/30/2039 | &nbsp;&nbsp; 2206000 | &nbsp;&nbsp;&nbsp;&nbsp; 1930256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 06/30/2044(5) | &nbsp;&nbsp; 1160000 | &nbsp;&nbsp;&nbsp;&nbsp; 658054 |
| &nbsp;&nbsp;&nbsp;Escambia County Health Facilities Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.61%, 08/15/2040 | &nbsp;&nbsp; 655000 | &nbsp;&nbsp;&nbsp;&nbsp; 521786 |
| &nbsp;&nbsp;&nbsp;Florida State Board of Administration Finance Corp.<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15%, 07/01/2030 | &nbsp;&nbsp; 2674000 | &nbsp;&nbsp;&nbsp;&nbsp; 2382172 |
| &nbsp;&nbsp;&nbsp;Oklahoma Development Finance Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 08/15/2028 | &nbsp;&nbsp; 1578000 | &nbsp;&nbsp;&nbsp;&nbsp; 1532774 |
| &nbsp;&nbsp;&nbsp;Regents of the University of California Medical Center<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.71%, 05/15/2120 | &nbsp;&nbsp; 740000 | &nbsp;&nbsp;&nbsp;&nbsp; 457435 |
| &nbsp;&nbsp;&nbsp;School District of Philadelphia<br> General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.62%, 06/01/2030 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1310502 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;State of California<br> General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.30%, 10/01/2039 | $360000 | &nbsp;&nbsp;$413251 |
| &nbsp;&nbsp;&nbsp;Texas Natural Gas Securitization Finance Corp.<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.17%, 04/01/2041 | &nbsp;&nbsp; 445000 | &nbsp;&nbsp;&nbsp;&nbsp; 450814 |
| &nbsp;&nbsp;&nbsp;Village of Bridgeview, Illinois<br> General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.06%, 12/01/2025 | &nbsp;&nbsp; 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 94811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.14%, 12/01/2036 | &nbsp;&nbsp; 3955000 | &nbsp;&nbsp;&nbsp;&nbsp; 3614646 |
| **Total Municipal Securities<br> (cost $14,534,220)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13366501 |
| **UNAFFILIATED INVESTMENT COMPANIES — 0.4%** | **UNAFFILIATED INVESTMENT COMPANIES — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional US Government Money Market Fund, Trust Class 4.19%(12)<br> (cost $6,626,872) | &nbsp;&nbsp; 6626872 | &nbsp;&nbsp;&nbsp;&nbsp; 6626872 |
| **Total Long-Term Investment Securities<br> (cost $1,912,232,497)** |  | &nbsp;&nbsp;&nbsp;&nbsp;1815524628 |
| **SHORT-TERM INVESTMENTS — 1.0%** | **SHORT-TERM INVESTMENTS — 1.0%** |  |
| **U.S. Government Agency — 1.0%** | **U.S. Government Agency — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Bank Disc. Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.18%, 08/01/2025<br> (cost $19,037,000) | &nbsp;&nbsp;19037000 | &nbsp;&nbsp;&nbsp;&nbsp; 19034758 |
| **REPURCHASE AGREEMENTS — 0.0%** | **REPURCHASE AGREEMENTS — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;Agreement with Fixed Income Clearing Corp., bearing interest at 1.36% dated 07/31/2025, to be repurchased 08/01/2025 in the amount of $438,623 and collateralized by $445,300 of United States Treasury Notes, bearing interest at 3.88% due 05/31/2027 and having an approximate value of $447,547<br> (cost $438,607) | &nbsp;&nbsp; 438607 | &nbsp;&nbsp;&nbsp;&nbsp; 438607 |
| **TOTAL INVESTMENTS<br> (cost $1,931,708,104)(13)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.2% | &nbsp;&nbsp;&nbsp;&nbsp;1834997993 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4545247) |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$1830452746 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The SA JPMorgan MFS Core Bond Portfolio has no right to demand registration of these securities. At July 31, 2025, the aggregate value of these securities was $433,151,683 representing 23.7% of net assets. |
| † | &nbsp;&nbsp;Non-income producing security |
| (1) | &nbsp;&nbsp;Perpetual maturity - maturity date reflects the next call date. |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

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

(3) Denotes a restricted security that: (a) cannot be offered for public sale without first being registered, or being able to take advantage of an exemption from
registration, under the Securities Act of 1933, as amended (the "1933 Act"); (b) is subject to a contractual restriction on public sales; or (c) is otherwise subject to a restriction on sales by operation
of applicable law. Restricted securities are valued pursuant to Note 2. Certain restricted securities held by the Portfolio may not be sold except in exempt transactions or in a public offering registered
under the 1933 Act. The Portfolio has no right to demand registration of these securities. The risk of investing in certain restricted securities is greater than the risk of investing in the securities of widely held,
publicly traded companies. To the extent applicable, lack of a secondary market and resale restrictions may result in the inability of a Portfolio to sell a security at a fair price and may substantially delay the
sale of the security. In addition, certain restricted securities may exhibit greater price volatility than securities for which secondary markets exist. As of July 31, 2025, the Portfolio held the following restricted
securities:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition<br> Date** | **Shares or<br> Principal<br> Amount** | **Acquisition<br> Cost** | **Value** | **Value<br> Per Share** | **% of<br> Net Assets** |
| **<u>Corporate Bonds & Notes</u>** | **<u>Corporate Bonds & Notes</u>** | **<u>Corporate Bonds & Notes</u>** | **<u>Corporate Bonds & Notes</u>** | **<u>Corporate Bonds & Notes</u>** | **<u>Corporate Bonds & Notes</u>** | **<u>Corporate Bonds & Notes</u>** |
| Pabrik Kertas Tjiwi Kimia Tbk PT 2.00%, 04/30/2029 | 12/02/2004 | $258200 | $36535 | $64550 | $25.00 | 0.0% |

---

(4) Security in default of interest.

(5) "Step-up" security where the rate increases ("steps-up") at a predetermined rate. The rate reflected is as of July 31, 2025.

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

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

(8) Interest Only

(9) Principal Only

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

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

(12) The rate shown is the 7-day yield as of July 31, 2025.

(13) See Note 4 for cost of investments on a tax basis.

---

| |
|:---|
| 1 Yr USTYCR—1 Year US Treasury Yield Curve Rate |
| 3 ML—3 Month USD LIBOR |
| BR—Bearer Shares |
| DAC—Designated Activity Company |
| FRS—Floating Rate Security |
| REMIC—Real Estate Mortgage Investment Conduit |
| SCRT—Structured Credit Risk Transfer |
| SOFR30A—US 30 Day Average Secured Overnight Financing Rate |
| STRIPS—Separate Trading of Registered Interest and Principal |
| TBA—Securities purchased on a forward commitment basis with an approximate principal amount and no definite maturity date. The actual principal amount and maturity date will be determined upon settlement date. |
| TIPS—Treasury Inflation Protected Securities |
| TSFR1M—Term Secured Overnight Financing Rate 1 Month |
| TSFR3M—Term Secured Overnight Financing Rate 3 Month |
| TSFR6M—Term Secured Overnight Financing Rate 6 Month |
| VRS—Variable Rate Security |

---

The rates shown on FRS and/or VRS are the current interest rates at July 31, 2025 and unless noted otherwise, the dates shown are the original maturity dates.

#### Futures Contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number<br> of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Expiration<br> Month** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Basis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Value\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation** |
| 127 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury 10 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$13943378 | &nbsp;&nbsp;&nbsp;&nbsp;$14104938 | &nbsp;&nbsp;&nbsp;&nbsp;$161560 |
| 289 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury 5 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31115503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31261672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146169 |
| 100 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury Long Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11112990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11418750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 305760 |
| 291 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra 10 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32567643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32905734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 338091 |
| 335 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38244503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39299687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1055184 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$2006764 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
| 454 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury 2 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$94086362 | &nbsp;&nbsp;&nbsp;&nbsp;$93970907 | &nbsp;&nbsp;&nbsp;&nbsp;$(115455) |
| 93 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;U.S. Treasury Long Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10418405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10619437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (201032) |
| 74 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8435627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8681125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (245498) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$(561985) |
|  |  | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) |  | &nbsp;&nbsp;&nbsp;&nbsp;$1444779 |

---

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

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Corporate Bonds & Notes: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Forest Products & Paper | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$64550 | &nbsp;&nbsp;$64550 |
| &nbsp;&nbsp;&nbsp;Other Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555358610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555358610 |
| Asset Backed Securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other Asset Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114169110 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116169110 |
| &nbsp;&nbsp;&nbsp;Other Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53840549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53840549 |
| Collateralized Mortgage Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206206632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206206632 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;857583078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;857583078 |
| Foreign Government Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6308726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6308726 |
| Municipal Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13366501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13366501 |
| Unaffiliated Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;6626872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6626872 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19034758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19034758 |
| Repurchase Agreements | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438607 |
| **Total Investments at Value** | &nbsp;&nbsp;$6626872 | &nbsp;&nbsp;$1826306571 | &nbsp;&nbsp;$2064550 | &nbsp;&nbsp;$1834997993 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;$2006764 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$2006764 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;$561985 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$561985 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | &nbsp;&nbsp;Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

Level 3 investments in securities were not considered a significant portion of the Portfolio's net assets.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Mid-Cap Growth Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.4%** | **COMMON STOCKS — 99.4%** | **COMMON STOCKS — 99.4%** |
| **Advertising — 0.8%** | **Advertising — 0.8%** | **Advertising — 0.8%** |
| &nbsp;&nbsp;&nbsp;Trade Desk, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;68508 | &nbsp;&nbsp;$5957456 |
| **Aerospace/Defense — 5.3%** | **Aerospace/Defense — 5.3%** | **Aerospace/Defense — 5.3%** |
| &nbsp;&nbsp;&nbsp;HEICO Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;50080 | &nbsp;&nbsp;&nbsp;&nbsp; 12925147 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;104914 | &nbsp;&nbsp;&nbsp;&nbsp; 18860390 |
| &nbsp;&nbsp;&nbsp;Rocket Lab Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;137053 | &nbsp;&nbsp;&nbsp;&nbsp; 6293474 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;38079011 |
| **Apparel — 1.1%** | **Apparel — 1.1%** | **Apparel — 1.1%** |
| &nbsp;&nbsp;&nbsp;On Holding AG, Class A† | &nbsp;&nbsp;&nbsp;&nbsp;155500 | &nbsp;&nbsp;&nbsp;&nbsp; 7552635 |
| **Biotechnology — 4.8%** | **Biotechnology — 4.8%** | **Biotechnology — 4.8%** |
| &nbsp;&nbsp;&nbsp;Alnylam Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;39863 | &nbsp;&nbsp;&nbsp;&nbsp; 15635863 |
| &nbsp;&nbsp;&nbsp;Insmed, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;90595 | &nbsp;&nbsp;&nbsp;&nbsp; 9719031 |
| &nbsp;&nbsp;&nbsp;Nuvalent, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;36143 | &nbsp;&nbsp;&nbsp;&nbsp; 2831804 |
| &nbsp;&nbsp;&nbsp;Revolution Medicines, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;40814 | &nbsp;&nbsp;&nbsp;&nbsp; 1521138 |
| &nbsp;&nbsp;&nbsp;Ultragenyx Pharmaceutical, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;92037 | &nbsp;&nbsp;&nbsp;&nbsp; 2514451 |
| &nbsp;&nbsp;&nbsp;Viking Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;60910 | &nbsp;&nbsp;&nbsp;&nbsp; 1983839 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;34206126 |
| **Building Materials — 1.7%** | **Building Materials — 1.7%** | **Building Materials — 1.7%** |
| &nbsp;&nbsp;&nbsp;Eagle Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18824 | &nbsp;&nbsp;&nbsp;&nbsp; 4222035 |
| &nbsp;&nbsp;&nbsp;James Hardie Industries PLC† | &nbsp;&nbsp;&nbsp;&nbsp;159020 | &nbsp;&nbsp;&nbsp;&nbsp; 4124979 |
| &nbsp;&nbsp;&nbsp;Trane Technologies PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8166 | &nbsp;&nbsp;&nbsp;&nbsp; 3577361 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11924375 |
| **Commercial Services — 2.8%** | **Commercial Services — 2.8%** | **Commercial Services — 2.8%** |
| &nbsp;&nbsp;&nbsp;Bright Horizons Family Solutions, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;43462 | &nbsp;&nbsp;&nbsp;&nbsp; 4915552 |
| &nbsp;&nbsp;&nbsp;Quanta Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36398 | &nbsp;&nbsp;&nbsp;&nbsp; 14782320 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;19697872 |
| **Computers — 2.9%** | **Computers — 2.9%** | **Computers — 2.9%** |
| &nbsp;&nbsp;&nbsp;CyberArk Software, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;12488 | &nbsp;&nbsp;&nbsp;&nbsp; 5138438 |
| &nbsp;&nbsp;&nbsp;Gartner, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;24809 | &nbsp;&nbsp;&nbsp;&nbsp; 8401568 |
| &nbsp;&nbsp;&nbsp;Okta, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;41649 | &nbsp;&nbsp;&nbsp;&nbsp; 4073272 |
| &nbsp;&nbsp;&nbsp;Rubrik, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;30856 | &nbsp;&nbsp;&nbsp;&nbsp; 2929777 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;20543055 |
| **Distribution/Wholesale — 0.5%** | **Distribution/Wholesale — 0.5%** | **Distribution/Wholesale — 0.5%** |
| &nbsp;&nbsp;&nbsp;Copart, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;77016 | &nbsp;&nbsp;&nbsp;&nbsp; 3491135 |
| **Diversified Financial Services — 8.3%** | **Diversified Financial Services — 8.3%** | **Diversified Financial Services — 8.3%** |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | &nbsp;&nbsp;&nbsp;&nbsp;70480 | &nbsp;&nbsp;&nbsp;&nbsp; 3904592 |
| &nbsp;&nbsp;&nbsp;Ares Management Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;69432 | &nbsp;&nbsp;&nbsp;&nbsp; 12881719 |
| &nbsp;&nbsp;&nbsp;Coinbase Global, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;13870 | &nbsp;&nbsp;&nbsp;&nbsp; 5239531 |
| &nbsp;&nbsp;&nbsp;Interactive Brokers Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;84604 | &nbsp;&nbsp;&nbsp;&nbsp; 5546638 |
| &nbsp;&nbsp;&nbsp;Jefferies Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;81504 | &nbsp;&nbsp;&nbsp;&nbsp; 4699521 |
| &nbsp;&nbsp;&nbsp;LPL Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22460 | &nbsp;&nbsp;&nbsp;&nbsp; 8888096 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30322 | &nbsp;&nbsp;&nbsp;&nbsp; 5067716 |
| &nbsp;&nbsp;&nbsp;Rocket Cos., Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;286842 | &nbsp;&nbsp;&nbsp;&nbsp; 4236656 |
| &nbsp;&nbsp;&nbsp;TPG, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;48858 | &nbsp;&nbsp;&nbsp;&nbsp; 2788326 |
| &nbsp;&nbsp;&nbsp;Tradeweb Markets, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;44196 | &nbsp;&nbsp;&nbsp;&nbsp; 6123356 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;59376151 |
| **Electric — 3.3%** | **Electric — 3.3%** | **Electric — 3.3%** |
| &nbsp;&nbsp;&nbsp;Vistra Corp. | &nbsp;&nbsp;&nbsp;&nbsp;112374 | &nbsp;&nbsp;&nbsp;&nbsp; 23434474 |
| **Electrical Components & Equipment — 0.6%** | **Electrical Components & Equipment — 0.6%** | **Electrical Components & Equipment — 0.6%** |
| &nbsp;&nbsp;&nbsp;AMETEK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22781 | &nbsp;&nbsp;&nbsp;&nbsp; 4211068 |
| **Electronics — 1.1%** | **Electronics — 1.1%** | **Electronics — 1.1%** |
| &nbsp;&nbsp;&nbsp;Garmin, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;15168 | &nbsp;&nbsp;&nbsp;&nbsp; 3318152 |
| &nbsp;&nbsp;&nbsp;Mettler-Toledo International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3408 | &nbsp;&nbsp;&nbsp;&nbsp; 4204381 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7522533 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Engineering & Construction — 1.5%** | **Engineering & Construction — 1.5%** | **Engineering & Construction — 1.5%** |
| &nbsp;&nbsp;&nbsp;Comfort Systems USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14877 | &nbsp;&nbsp;$10462994 |
| **Entertainment — 2.6%** | **Entertainment — 2.6%** | **Entertainment — 2.6%** |
| &nbsp;&nbsp;&nbsp;Flutter Entertainment PLC† | &nbsp;&nbsp;&nbsp;&nbsp;61276 | &nbsp;&nbsp;&nbsp;&nbsp; 18521284 |
| **Food — 0.9%** | **Food — 0.9%** | **Food — 0.9%** |
| &nbsp;&nbsp;&nbsp;Performance Food Group Co.† | &nbsp;&nbsp;&nbsp;&nbsp;60991 | &nbsp;&nbsp;&nbsp;&nbsp; 6123496 |
| **Hand/Machine Tools — 0.4%** | **Hand/Machine Tools — 0.4%** | **Hand/Machine Tools — 0.4%** |
| &nbsp;&nbsp;&nbsp;MSA Safety, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18031 | &nbsp;&nbsp;&nbsp;&nbsp; 3207174 |
| **Healthcare-Products — 3.1%** | **Healthcare-Products — 3.1%** | **Healthcare-Products — 3.1%** |
| &nbsp;&nbsp;&nbsp;Agilent Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30497 | &nbsp;&nbsp;&nbsp;&nbsp; 3501361 |
| &nbsp;&nbsp;&nbsp;Cooper Cos., Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;45541 | &nbsp;&nbsp;&nbsp;&nbsp; 3219293 |
| &nbsp;&nbsp;&nbsp;Edwards Lifesciences Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;40152 | &nbsp;&nbsp;&nbsp;&nbsp; 3184455 |
| &nbsp;&nbsp;&nbsp;Natera, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;53393 | &nbsp;&nbsp;&nbsp;&nbsp; 7136508 |
| &nbsp;&nbsp;&nbsp;Penumbra, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;20195 | &nbsp;&nbsp;&nbsp;&nbsp; 5094593 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;22136210 |
| **Healthcare-Services — 0.4%** | **Healthcare-Services — 0.4%** | **Healthcare-Services — 0.4%** |
| &nbsp;&nbsp;&nbsp;IQVIA Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;15365 | &nbsp;&nbsp;&nbsp;&nbsp; 2855739 |
| **Home Builders — 0.4%** | **Home Builders — 0.4%** | **Home Builders — 0.4%** |
| &nbsp;&nbsp;&nbsp;Thor Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34217 | &nbsp;&nbsp;&nbsp;&nbsp; 3113405 |
| **Home Furnishings — 0.7%** | **Home Furnishings — 0.7%** | **Home Furnishings — 0.7%** |
| &nbsp;&nbsp;&nbsp;Somnigroup International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;64331 | &nbsp;&nbsp;&nbsp;&nbsp; 4656278 |
| **Insurance — 0.6%** | **Insurance — 0.6%** | **Insurance — 0.6%** |
| &nbsp;&nbsp;&nbsp;Arthur J. Gallagher & Co. | &nbsp;&nbsp;&nbsp;&nbsp;14680 | &nbsp;&nbsp;&nbsp;&nbsp; 4216830 |
| **Internet — 5.2%** | **Internet — 5.2%** | **Internet — 5.2%** |
| &nbsp;&nbsp;&nbsp;Coupang, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;161214 | &nbsp;&nbsp;&nbsp;&nbsp; 4744528 |
| &nbsp;&nbsp;&nbsp;DoorDash, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;28576 | &nbsp;&nbsp;&nbsp;&nbsp; 7151144 |
| &nbsp;&nbsp;&nbsp;GoDaddy, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;34380 | &nbsp;&nbsp;&nbsp;&nbsp; 5555120 |
| &nbsp;&nbsp;&nbsp;Reddit, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;56984 | &nbsp;&nbsp;&nbsp;&nbsp; 9151061 |
| &nbsp;&nbsp;&nbsp;Robinhood Markets, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;100578 | &nbsp;&nbsp;&nbsp;&nbsp; 10364563 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;36966416 |
| **Leisure Time — 4.1%** | **Leisure Time — 4.1%** | **Leisure Time — 4.1%** |
| &nbsp;&nbsp;&nbsp;Planet Fitness, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;55429 | &nbsp;&nbsp;&nbsp;&nbsp; 6052293 |
| &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;72913 | &nbsp;&nbsp;&nbsp;&nbsp; 23176855 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;29229148 |
| **Lodging — 2.9%** | **Lodging — 2.9%** | **Lodging — 2.9%** |
| &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;77620 | &nbsp;&nbsp;&nbsp;&nbsp; 20808369 |
| **Machinery-Construction & Mining — 1.6%** | **Machinery-Construction & Mining — 1.6%** | **Machinery-Construction & Mining — 1.6%** |
| &nbsp;&nbsp;&nbsp;Vertiv Holdings Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;79313 | &nbsp;&nbsp;&nbsp;&nbsp; 11547973 |
| **Machinery-Diversified — 1.3%** | **Machinery-Diversified — 1.3%** | **Machinery-Diversified — 1.3%** |
| &nbsp;&nbsp;&nbsp;Esab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;47923 | &nbsp;&nbsp;&nbsp;&nbsp; 6429829 |
| &nbsp;&nbsp;&nbsp;Ingersoll Rand, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;37081 | &nbsp;&nbsp;&nbsp;&nbsp; 3138165 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9567994 |
| **Media — 0.6%** | **Media — 0.6%** | **Media — 0.6%** |
| &nbsp;&nbsp;&nbsp;FactSet Research Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10743 | &nbsp;&nbsp;&nbsp;&nbsp; 4328355 |
| **Miscellaneous Manufacturing — 3.9%** | **Miscellaneous Manufacturing — 3.9%** | **Miscellaneous Manufacturing — 3.9%** |
| &nbsp;&nbsp;&nbsp;Axon Enterprise, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;16038 | &nbsp;&nbsp;&nbsp;&nbsp; 12116549 |
| &nbsp;&nbsp;&nbsp;Carlisle Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13750 | &nbsp;&nbsp;&nbsp;&nbsp; 4877262 |
| &nbsp;&nbsp;&nbsp;ITT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;38683 | &nbsp;&nbsp;&nbsp;&nbsp; 6574563 |
| &nbsp;&nbsp;&nbsp;Teledyne Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7993 | &nbsp;&nbsp;&nbsp;&nbsp; 4404303 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;27972677 |
| **Oil & Gas — 0.6%** | **Oil & Gas — 0.6%** | **Oil & Gas — 0.6%** |
| &nbsp;&nbsp;&nbsp;EOG Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35823 | &nbsp;&nbsp;&nbsp;&nbsp; 4299476 |
| **Oil & Gas Services — 0.5%** | **Oil & Gas Services — 0.5%** | **Oil & Gas Services — 0.5%** |
| &nbsp;&nbsp;&nbsp;TechnipFMC PLC | &nbsp;&nbsp;&nbsp;&nbsp;105314 | &nbsp;&nbsp;&nbsp;&nbsp; 3830270 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Mid-Cap Growth Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Pharmaceuticals — 3.9%** | **Pharmaceuticals — 3.9%** | **Pharmaceuticals — 3.9%** |
| &nbsp;&nbsp;&nbsp;Alkermes PLC† | &nbsp;&nbsp;&nbsp;&nbsp;73529 | &nbsp;&nbsp;$1947783 |
| &nbsp;&nbsp;&nbsp;Dexcom, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;104234 | &nbsp;&nbsp;&nbsp;&nbsp; 8418980 |
| &nbsp;&nbsp;&nbsp;McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12399 | &nbsp;&nbsp;&nbsp;&nbsp; 8599203 |
| &nbsp;&nbsp;&nbsp;Neurocrine Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;62264 | &nbsp;&nbsp;&nbsp;&nbsp; 7984113 |
| &nbsp;&nbsp;&nbsp;Rhythm Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14296 | &nbsp;&nbsp;&nbsp;&nbsp; 1218448 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;28168527 |
| **Pipelines — 2.0%** | **Pipelines — 2.0%** | **Pipelines — 2.0%** |
| &nbsp;&nbsp;&nbsp;Cheniere Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31663 | &nbsp;&nbsp;&nbsp;&nbsp; 7468668 |
| &nbsp;&nbsp;&nbsp;Williams Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;117143 | &nbsp;&nbsp;&nbsp;&nbsp; 7022723 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14491391 |
| **Real Estate — 1.1%** | **Real Estate — 1.1%** | **Real Estate — 1.1%** |
| &nbsp;&nbsp;&nbsp;CBRE Group, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;49873 | &nbsp;&nbsp;&nbsp;&nbsp; 7767221 |
| **REITS — 0.4%** | **REITS — 0.4%** | **REITS — 0.4%** |
| &nbsp;&nbsp;&nbsp;Crown Castle, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29844 | &nbsp;&nbsp;&nbsp;&nbsp; 3136306 |
| **Retail — 7.3%** | **Retail — 7.3%** | **Retail — 7.3%** |
| &nbsp;&nbsp;&nbsp;AutoZone, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1597 | &nbsp;&nbsp;&nbsp;&nbsp; 6018103 |
| &nbsp;&nbsp;&nbsp;Burlington Stores, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;30163 | &nbsp;&nbsp;&nbsp;&nbsp; 8233293 |
| &nbsp;&nbsp;&nbsp;Carvana Co.† | &nbsp;&nbsp;&nbsp;&nbsp;36443 | &nbsp;&nbsp;&nbsp;&nbsp; 14218965 |
| &nbsp;&nbsp;&nbsp;Casey's General Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12218 | &nbsp;&nbsp;&nbsp;&nbsp; 6354948 |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;69101 | &nbsp;&nbsp;&nbsp;&nbsp; 2963051 |
| &nbsp;&nbsp;&nbsp;Floor & Decor Holdings, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;29789 | &nbsp;&nbsp;&nbsp;&nbsp; 2283029 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;17044 | &nbsp;&nbsp;&nbsp;&nbsp; 8777830 |
| &nbsp;&nbsp;&nbsp;Wingstop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8828 | &nbsp;&nbsp;&nbsp;&nbsp; 3331158 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;52180377 |
| **Semiconductors — 2.4%** | **Semiconductors — 2.4%** | **Semiconductors — 2.4%** |
| &nbsp;&nbsp;&nbsp;Monolithic Power Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7895 | &nbsp;&nbsp;&nbsp;&nbsp; 5615240 |
| &nbsp;&nbsp;&nbsp;ON Semiconductor Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;66004 | &nbsp;&nbsp;&nbsp;&nbsp; 3719985 |
| &nbsp;&nbsp;&nbsp;Rambus, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;43318 | &nbsp;&nbsp;&nbsp;&nbsp; 3202500 |
| &nbsp;&nbsp;&nbsp;Teradyne, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46347 | &nbsp;&nbsp;&nbsp;&nbsp; 4979058 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;17516783 |
| **Software — 17.2%** | **Software — 17.2%** | **Software — 17.2%** |
| &nbsp;&nbsp;&nbsp;AppLovin Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8524 | &nbsp;&nbsp;&nbsp;&nbsp; 3330327 |
| &nbsp;&nbsp;&nbsp;Atlassian Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;19860 | &nbsp;&nbsp;&nbsp;&nbsp; 3808751 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Software (continued)** | **Software (continued)** |  |
| &nbsp;&nbsp;&nbsp;Cloudflare, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;66328 | &nbsp;&nbsp;$13774999 |
| &nbsp;&nbsp;&nbsp;Confluent, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;183249 | &nbsp;&nbsp;&nbsp;&nbsp; 3248088 |
| &nbsp;&nbsp;&nbsp;Datadog, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;61361 | &nbsp;&nbsp;&nbsp;&nbsp; 8589313 |
| &nbsp;&nbsp;&nbsp;Fair Isaac Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1705 | &nbsp;&nbsp;&nbsp;&nbsp; 2449608 |
| &nbsp;&nbsp;&nbsp;Figma, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;13514 | &nbsp;&nbsp;&nbsp;&nbsp; 1560867 |
| &nbsp;&nbsp;&nbsp;HubSpot, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;17781 | &nbsp;&nbsp;&nbsp;&nbsp; 9239897 |
| &nbsp;&nbsp;&nbsp;Monday.com, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;15599 | &nbsp;&nbsp;&nbsp;&nbsp; 4091462 |
| &nbsp;&nbsp;&nbsp;MongoDB, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;19926 | &nbsp;&nbsp;&nbsp;&nbsp; 4740196 |
| &nbsp;&nbsp;&nbsp;MSCI, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12759 | &nbsp;&nbsp;&nbsp;&nbsp; 7162392 |
| &nbsp;&nbsp;&nbsp;Nutanix, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;90680 | &nbsp;&nbsp;&nbsp;&nbsp; 6816415 |
| &nbsp;&nbsp;&nbsp;ROBLOX Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;128404 | &nbsp;&nbsp;&nbsp;&nbsp; 17692787 |
| &nbsp;&nbsp;&nbsp;Snowflake, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;28464 | &nbsp;&nbsp;&nbsp;&nbsp; 6361704 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;44171 | &nbsp;&nbsp;&nbsp;&nbsp; 9838207 |
| &nbsp;&nbsp;&nbsp;Twilio, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;45190 | &nbsp;&nbsp;&nbsp;&nbsp; 5829510 |
| &nbsp;&nbsp;&nbsp;Tyler Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5893 | &nbsp;&nbsp;&nbsp;&nbsp; 3444812 |
| &nbsp;&nbsp;&nbsp;Veeva Systems, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;38747 | &nbsp;&nbsp;&nbsp;&nbsp; 11011897 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;122991232 |
| **Telecommunications — 0.6%** | **Telecommunications — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;Ciena Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;47259 | &nbsp;&nbsp;&nbsp;&nbsp; 4387525 |
| **Total Long-Term Investment Securities<br> (cost $583,844,284)** |  | &nbsp;&nbsp;&nbsp;&nbsp;710479341 |
| **SHORT-TERM INVESTMENTS — 0.5%** | **SHORT-TERM INVESTMENTS — 0.5%** |  |
| **Unaffiliated Investment Companies — 0.5%** | **Unaffiliated Investment Companies — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(1)<br> (cost $3,480,347) | 3480347 | &nbsp;&nbsp;&nbsp;&nbsp; 3480347 |
| **TOTAL INVESTMENTS<br> (cost $587,324,631)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.9% | &nbsp;&nbsp;&nbsp;&nbsp;713959688 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;788231 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$714747919 |

---

† Non-income producing security

(1) The rate shown is the 7-day yield as of July 31, 2025.

(2) See Note 4 for cost of investments on a tax basis.

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$710479341 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$710479341 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3480347 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3480347 |
| **Total Investments at Value** | &nbsp;&nbsp;$713959688 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$713959688 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Ultra-Short Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES — 72.6%** | **CORPORATE BONDS & NOTES — 72.6%** | **CORPORATE BONDS & NOTES — 72.6%** |
| **Advertising — 0.7%** | **Advertising — 0.7%** | **Advertising — 0.7%** |
| &nbsp;&nbsp;&nbsp;Omnicom Group, Inc./Omnicom Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 04/15/2026 | $2546000 | &nbsp;&nbsp;$2527254 |
| **Agriculture — 1.0%** | **Agriculture — 1.0%** | **Agriculture — 1.0%** |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 08/11/2026 | &nbsp;&nbsp; 1384000 | &nbsp;&nbsp;&nbsp;&nbsp; 1357476 |
| &nbsp;&nbsp;&nbsp;Bunge, Ltd. Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.63%, 08/17/2025 | &nbsp;&nbsp; 1797000 | &nbsp;&nbsp;&nbsp;&nbsp; 1794213 |
| &nbsp;&nbsp;&nbsp;Imperial Brands Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 06/30/2028\* | &nbsp;&nbsp; 421000 | &nbsp;&nbsp;&nbsp;&nbsp; 420056 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3571745 |
| **Auto Manufacturers — 7.2%** | **Auto Manufacturers — 7.2%** | **Auto Manufacturers — 7.2%** |
| &nbsp;&nbsp;&nbsp;American Honda Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00%, 09/10/2025 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 497986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 10/03/2025 | &nbsp;&nbsp; 665000 | &nbsp;&nbsp;&nbsp;&nbsp; 666202 |
| &nbsp;&nbsp;&nbsp;American Honda Finance Corp. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.96%, (SOFR+0.62%), 12/11/2026 | &nbsp;&nbsp; 1904000 | &nbsp;&nbsp;&nbsp;&nbsp; 1906367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, (SOFR+0.87%), 07/09/2027 | &nbsp;&nbsp; 463000 | &nbsp;&nbsp;&nbsp;&nbsp; 464546 |
| &nbsp;&nbsp;&nbsp;BMW US Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 08/11/2025\* | &nbsp;&nbsp; 332000 | &nbsp;&nbsp;&nbsp;&nbsp; 332073 |
| &nbsp;&nbsp;&nbsp;BMW US Capital LLC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.89%, (SOFR+0.55%), 04/02/2026\* | &nbsp;&nbsp; 2014000 | &nbsp;&nbsp;&nbsp;&nbsp; 2015517 |
| &nbsp;&nbsp;&nbsp;Daimler Truck Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.60%, 08/08/2025\* | &nbsp;&nbsp; 2625000 | &nbsp;&nbsp;&nbsp;&nbsp; 2625428 |
| &nbsp;&nbsp;&nbsp;General Motors Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 04/15/2028 | &nbsp;&nbsp; 432000 | &nbsp;&nbsp;&nbsp;&nbsp; 438924 |
| &nbsp;&nbsp;&nbsp;General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 06/10/2026 | &nbsp;&nbsp; 1402000 | &nbsp;&nbsp;&nbsp;&nbsp; 1364914 |
| &nbsp;&nbsp;&nbsp;Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 09/27/2026\* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 68442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 03/25/2027\* | &nbsp;&nbsp; 2986000 | &nbsp;&nbsp;&nbsp;&nbsp; 2995233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 01/08/2027\* | &nbsp;&nbsp; 391000 | &nbsp;&nbsp;&nbsp;&nbsp; 394302 |
| &nbsp;&nbsp;&nbsp;Mercedes-Benz Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 11/13/2026\* | &nbsp;&nbsp; 689000 | &nbsp;&nbsp;&nbsp;&nbsp; 692192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 07/31/2026\* | &nbsp;&nbsp; 2640000 | &nbsp;&nbsp;&nbsp;&nbsp; 2650668 |
| &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.79%, (SOFR+0.45%), 05/15/2026 | &nbsp;&nbsp; 2212000 | &nbsp;&nbsp;&nbsp;&nbsp; 2213935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.23%, (SOFR+0.89%), 05/18/2026 | &nbsp;&nbsp; 3030000 | &nbsp;&nbsp;&nbsp;&nbsp; 3043347 |
| &nbsp;&nbsp;&nbsp;Volkswagen Group of America Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 03/25/2027\* | &nbsp;&nbsp; 227000 | &nbsp;&nbsp;&nbsp;&nbsp; 227354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 03/22/2027\* | &nbsp;&nbsp; 1888000 | &nbsp;&nbsp;&nbsp;&nbsp; 1901613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 11/16/2026\* | &nbsp;&nbsp; 390000 | &nbsp;&nbsp;&nbsp;&nbsp; 395378 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;24894421 |
| **Banks — 23.5%** | **Banks — 23.5%** | **Banks — 23.5%** |
| &nbsp;&nbsp;&nbsp;ABN AMRO Bank NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.99%, 12/03/2028\* | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 806956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.34%, 09/18/2027\* | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2036194 |
| &nbsp;&nbsp;&nbsp;ABN AMRO Bank NV FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.09%, (SOFR+0.75%), 07/07/2028\* | &nbsp;&nbsp; 899000 | &nbsp;&nbsp;&nbsp;&nbsp; 900996 |
| &nbsp;&nbsp;&nbsp;Banco Bilbao Vizcaya Argentaria SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.86%, 09/14/2026 | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp;&nbsp;&nbsp; 3604075 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.57%, 09/10/2027 | &nbsp;&nbsp; 998000 | &nbsp;&nbsp;&nbsp;&nbsp; 997789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.59%, 12/11/2026 | &nbsp;&nbsp; 1666000 | &nbsp;&nbsp;&nbsp;&nbsp; 1667458 |
| &nbsp;&nbsp;&nbsp;Banque Federative du Credit Mutuel SA FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.32%, (SOFR+0.99%), 10/16/2028\* | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp;&nbsp;&nbsp; 1805958 |
| &nbsp;&nbsp;&nbsp;Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.84%, 09/10/2028 | &nbsp;&nbsp; 457000 | &nbsp;&nbsp;&nbsp;&nbsp; 459320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.33%, 11/02/2026 | &nbsp;&nbsp; 2248000 | &nbsp;&nbsp;&nbsp;&nbsp; 2261273 |
| &nbsp;&nbsp;&nbsp;BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.32%, 01/13/2027\* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 492356 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.68%, 06/30/2027\* | $3300000 | &nbsp;&nbsp;$3211475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.79%, 05/09/2029\* | &nbsp;&nbsp; 1075000 | &nbsp;&nbsp;&nbsp;&nbsp; 1078692 |
| &nbsp;&nbsp;&nbsp;CaixaBank SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 07/03/2029\* | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 748721 |
| &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.51%, 09/11/2027 | &nbsp;&nbsp; 1408000 | &nbsp;&nbsp;&nbsp;&nbsp; 1407158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.24%, 06/28/2027 | &nbsp;&nbsp; 835000 | &nbsp;&nbsp;&nbsp;&nbsp; 847388 |
| &nbsp;&nbsp;&nbsp;Citibank, N.A. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 11/19/2027 | &nbsp;&nbsp; 1458000 | &nbsp;&nbsp;&nbsp;&nbsp; 1463803 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.64%, 05/07/2028 | &nbsp;&nbsp; 1052000 | &nbsp;&nbsp;&nbsp;&nbsp; 1052594 |
| &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00%, 09/24/2026\* | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp;&nbsp;&nbsp; 2386310 |
| &nbsp;&nbsp;&nbsp;Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 09/11/2028\* | &nbsp;&nbsp; 449000 | &nbsp;&nbsp;&nbsp;&nbsp; 448776 |
| &nbsp;&nbsp;&nbsp;Danske Bank A/S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.26%, 09/22/2026\* | &nbsp;&nbsp; 2674000 | &nbsp;&nbsp;&nbsp;&nbsp; 2678697 |
| &nbsp;&nbsp;&nbsp;DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13%, 09/16/2026\* | &nbsp;&nbsp; 1389000 | &nbsp;&nbsp;&nbsp;&nbsp; 1382435 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Bank USA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.28%, 03/18/2027 | &nbsp;&nbsp; 2497000 | &nbsp;&nbsp;&nbsp;&nbsp; 2506026 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.09%, 12/09/2026 | &nbsp;&nbsp; 1658000 | &nbsp;&nbsp;&nbsp;&nbsp; 1636423 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 05/25/2026 | &nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp; 572482 |
| &nbsp;&nbsp;&nbsp;HSBC USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 06/03/2028 | &nbsp;&nbsp; 602000 | &nbsp;&nbsp;&nbsp;&nbsp; 604823 |
| &nbsp;&nbsp;&nbsp;ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.73%, 04/01/2027 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 490219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 03/29/2027 | &nbsp;&nbsp; 365000 | &nbsp;&nbsp;&nbsp;&nbsp; 361896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.86%, 03/25/2029 | &nbsp;&nbsp; 528000 | &nbsp;&nbsp;&nbsp;&nbsp; 532488 |
| &nbsp;&nbsp;&nbsp;KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 04/06/2027 | &nbsp;&nbsp; 1765000 | &nbsp;&nbsp;&nbsp;&nbsp; 1698442 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 01/11/2027 | &nbsp;&nbsp; 2583000 | &nbsp;&nbsp;&nbsp;&nbsp; 2555590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.82%, 06/13/2029 | &nbsp;&nbsp; 486000 | &nbsp;&nbsp;&nbsp;&nbsp; 488740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.09%, 11/26/2028 | &nbsp;&nbsp; 390000 | &nbsp;&nbsp;&nbsp;&nbsp; 394169 |
| &nbsp;&nbsp;&nbsp;Macquarie Bank, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.33%, 06/12/2028\* | &nbsp;&nbsp; 444000 | &nbsp;&nbsp;&nbsp;&nbsp; 443889 |
| &nbsp;&nbsp;&nbsp;Macquarie Group, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.34%, 01/12/2027\* | &nbsp;&nbsp; 81000 | &nbsp;&nbsp;&nbsp;&nbsp; 79783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.11%, 08/09/2026\* | &nbsp;&nbsp; 2175000 | &nbsp;&nbsp;&nbsp;&nbsp; 2175308 |
| &nbsp;&nbsp;&nbsp;Manufacturers & Traders Trust Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.76%, 07/06/2028 | &nbsp;&nbsp; 535000 | &nbsp;&nbsp;&nbsp;&nbsp; 537148 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.99%, 12/10/2026 | &nbsp;&nbsp; 1977000 | &nbsp;&nbsp;&nbsp;&nbsp; 1950625 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Bank, N.A. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.97%, 07/14/2028 | &nbsp;&nbsp; 452000 | &nbsp;&nbsp;&nbsp;&nbsp; 456512 |
| &nbsp;&nbsp;&nbsp;National Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 03/05/2027 | &nbsp;&nbsp; 2866000 | &nbsp;&nbsp;&nbsp;&nbsp; 2862159 |
| &nbsp;&nbsp;&nbsp;NatWest Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 03/02/2027 | &nbsp;&nbsp; 1205000 | &nbsp;&nbsp;&nbsp;&nbsp; 1212879 |
| &nbsp;&nbsp;&nbsp;NatWest Group PLC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.44%, (SOFR+1.10%), 05/23/2029 | &nbsp;&nbsp; 539000 | &nbsp;&nbsp;&nbsp;&nbsp; 540430 |
| &nbsp;&nbsp;&nbsp;NatWest Markets PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.60%, 09/29/2026\* | &nbsp;&nbsp; 660000 | &nbsp;&nbsp;&nbsp;&nbsp; 638363 |
| &nbsp;&nbsp;&nbsp;Nordea Bank Abp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 09/22/2027\* | &nbsp;&nbsp; 3046000 | &nbsp;&nbsp;&nbsp;&nbsp; 3100915 |
| &nbsp;&nbsp;&nbsp;PNC Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.78%, 01/15/2027 | &nbsp;&nbsp; 1304000 | &nbsp;&nbsp;&nbsp;&nbsp; 1304526 |
| &nbsp;&nbsp;&nbsp;Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.24%, 10/05/2026 | &nbsp;&nbsp; 195000 | &nbsp;&nbsp;&nbsp;&nbsp; 191763 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Ultra-Short Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;Santander UK Group Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.53%, 08/21/2026 | $1900000 | &nbsp;&nbsp;$1896433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.67%, 06/14/2027 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1459663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.83%, 11/21/2026 | &nbsp;&nbsp; 496000 | &nbsp;&nbsp;&nbsp;&nbsp; 498877 |
| &nbsp;&nbsp;&nbsp;Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.49%, 12/14/2026\* | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2468430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 02/19/2027\* | &nbsp;&nbsp; 1075000 | &nbsp;&nbsp;&nbsp;&nbsp; 1082943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 04/13/2029\* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1015975 |
| &nbsp;&nbsp;&nbsp;Standard Chartered PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 04/12/2026\* | &nbsp;&nbsp; 2140000 | &nbsp;&nbsp;&nbsp;&nbsp; 2129683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 01/21/2029\* | &nbsp;&nbsp; 667000 | &nbsp;&nbsp;&nbsp;&nbsp; 680790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.17%, 01/09/2027\* | &nbsp;&nbsp; 618000 | &nbsp;&nbsp;&nbsp;&nbsp; 621593 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.53%, 07/17/2026 | &nbsp;&nbsp; 1055000 | &nbsp;&nbsp;&nbsp;&nbsp; 1065591 |
| &nbsp;&nbsp;&nbsp;Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.27%, 03/02/2027 | &nbsp;&nbsp; 2799000 | &nbsp;&nbsp;&nbsp;&nbsp; 2740642 |
| &nbsp;&nbsp;&nbsp;UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.31%, 02/02/2027\* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 491646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.36%, 01/30/2027\* | &nbsp;&nbsp; 2481000 | &nbsp;&nbsp;&nbsp;&nbsp; 2440189 |
| &nbsp;&nbsp;&nbsp;US Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.73%, 05/15/2028 | &nbsp;&nbsp; 696000 | &nbsp;&nbsp;&nbsp;&nbsp; 698924 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 01/24/2028 | &nbsp;&nbsp; 1443000 | &nbsp;&nbsp;&nbsp;&nbsp; 1450376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.97%, 04/23/2029 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1517307 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;81333084 |
| **Beverages — 1.2%** | **Beverages — 1.2%** | **Beverages — 1.2%** |
| &nbsp;&nbsp;&nbsp;Constellation Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 12/06/2026 | &nbsp;&nbsp; 1203000 | &nbsp;&nbsp;&nbsp;&nbsp; 1190457 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 11/15/2025 | &nbsp;&nbsp; 815000 | &nbsp;&nbsp;&nbsp;&nbsp; 811888 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 07/15/2026 | &nbsp;&nbsp; 1745000 | &nbsp;&nbsp;&nbsp;&nbsp; 1719008 |
| &nbsp;&nbsp;&nbsp;Pernod Ricard SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 06/08/2026\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 395236 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4116589 |
| **Chemicals — 1.3%** | **Chemicals — 1.3%** | **Chemicals — 1.3%** |
| &nbsp;&nbsp;&nbsp;International Flavors & Fragrances, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.23%, 10/01/2025\* | &nbsp;&nbsp; 911000 | &nbsp;&nbsp;&nbsp;&nbsp; 904831 |
| &nbsp;&nbsp;&nbsp;Nutrien, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 03/12/2027 | &nbsp;&nbsp; 2676000 | &nbsp;&nbsp;&nbsp;&nbsp; 2672508 |
| &nbsp;&nbsp;&nbsp;Westlake Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 08/15/2026 | &nbsp;&nbsp; 838000 | &nbsp;&nbsp;&nbsp;&nbsp; 828310 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4405649 |
| **Commercial Services — 0.9%** | **Commercial Services — 0.9%** | **Commercial Services — 0.9%** |
| &nbsp;&nbsp;&nbsp;Element Fleet Management Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.64%, 03/13/2027\* | &nbsp;&nbsp; 549000 | &nbsp;&nbsp;&nbsp;&nbsp; 556544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.27%, 06/26/2026\* | &nbsp;&nbsp; 1132000 | &nbsp;&nbsp;&nbsp;&nbsp; 1146391 |
| &nbsp;&nbsp;&nbsp;Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.20%, 03/01/2026 | &nbsp;&nbsp; 1593000 | &nbsp;&nbsp;&nbsp;&nbsp; 1560012 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3262947 |
| **Computers — 0.2%** | **Computers — 0.2%** | **Computers — 0.2%** |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 09/25/2026 | &nbsp;&nbsp; 545000 | &nbsp;&nbsp;&nbsp;&nbsp; 544371 |
| **Diversified Financial Services — 2.4%** | **Diversified Financial Services — 2.4%** | **Diversified Financial Services — 2.4%** |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC /AerCap Global Aviation Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 04/01/2028 | &nbsp;&nbsp; 1608000 | &nbsp;&nbsp;&nbsp;&nbsp; 1619458 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| &nbsp;&nbsp;&nbsp;American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.34%, 10/30/2026 | $1440000 | &nbsp;&nbsp;$1445679 |
| &nbsp;&nbsp;&nbsp;Aviation Capital Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.95%, 01/30/2026\* | &nbsp;&nbsp; 1387000 | &nbsp;&nbsp;&nbsp;&nbsp; 1367555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 04/14/2027\* | &nbsp;&nbsp; 318000 | &nbsp;&nbsp;&nbsp;&nbsp; 318156 |
| &nbsp;&nbsp;&nbsp;Avolon Holdings Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 04/15/2026\* | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1095380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 01/15/2028\* | &nbsp;&nbsp; 613000 | &nbsp;&nbsp;&nbsp;&nbsp; 615647 |
| &nbsp;&nbsp;&nbsp;Jefferies Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.03%, 03/16/2026 | &nbsp;&nbsp; 1655000 | &nbsp;&nbsp;&nbsp;&nbsp; 1656471 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8118346 |
| **Electric — 6.8%** | **Electric — 6.8%** | **Electric — 6.8%** |
| &nbsp;&nbsp;&nbsp;AES Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38%, 01/15/2026 | &nbsp;&nbsp; 921000 | &nbsp;&nbsp;&nbsp;&nbsp; 906516 |
| &nbsp;&nbsp;&nbsp;Ameren Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 12/01/2026 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1013500 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.45%, 06/01/2026 | &nbsp;&nbsp; 138000 | &nbsp;&nbsp;&nbsp;&nbsp; 134441 |
| &nbsp;&nbsp;&nbsp;CMS Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 05/15/2026 | &nbsp;&nbsp; 1733000 | &nbsp;&nbsp;&nbsp;&nbsp; 1713549 |
| &nbsp;&nbsp;&nbsp;Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 10/01/2025 | &nbsp;&nbsp; 1832000 | &nbsp;&nbsp;&nbsp;&nbsp; 1829646 |
| &nbsp;&nbsp;&nbsp;DTE Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 05/14/2027 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 249956 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 07/01/2027 | &nbsp;&nbsp; 322000 | &nbsp;&nbsp;&nbsp;&nbsp; 324876 |
| &nbsp;&nbsp;&nbsp;Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 09/01/2026 | &nbsp;&nbsp; 1260000 | &nbsp;&nbsp;&nbsp;&nbsp; 1234292 |
| &nbsp;&nbsp;&nbsp;Emera US Finance LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 06/15/2026 | &nbsp;&nbsp; 847000 | &nbsp;&nbsp;&nbsp;&nbsp; 837985 |
| &nbsp;&nbsp;&nbsp;Entergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.90%, 09/15/2025 | &nbsp;&nbsp; 1885000 | &nbsp;&nbsp;&nbsp;&nbsp; 1876371 |
| &nbsp;&nbsp;&nbsp;Eversource Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 05/15/2026 | &nbsp;&nbsp; 1685000 | &nbsp;&nbsp;&nbsp;&nbsp; 1685299 |
| &nbsp;&nbsp;&nbsp;Exelon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 04/15/2026 | &nbsp;&nbsp; 2222000 | &nbsp;&nbsp;&nbsp;&nbsp; 2202605 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance Corp. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92%, (SOFR+0.58%), 11/22/2026 | &nbsp;&nbsp; 2258000 | &nbsp;&nbsp;&nbsp;&nbsp; 2259178 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.69%, 09/01/2027 | &nbsp;&nbsp; 489000 | &nbsp;&nbsp;&nbsp;&nbsp; 491314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 09/01/2025 | &nbsp;&nbsp; 2590000 | &nbsp;&nbsp;&nbsp;&nbsp; 2591611 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 03/20/2027\* | &nbsp;&nbsp; 672000 | &nbsp;&nbsp;&nbsp;&nbsp; 674111 |
| &nbsp;&nbsp;&nbsp;Public Service Enterprise Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.80%, 08/15/2025 | &nbsp;&nbsp; 1819000 | &nbsp;&nbsp;&nbsp;&nbsp; 1816273 |
| &nbsp;&nbsp;&nbsp;Sierra Pacific Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 05/01/2026 | &nbsp;&nbsp; 79000 | &nbsp;&nbsp;&nbsp;&nbsp; 77809 |
| &nbsp;&nbsp;&nbsp;Southwestern Electric Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 10/01/2026 | &nbsp;&nbsp; 1734000 | &nbsp;&nbsp;&nbsp;&nbsp; 1695965 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;23615297 |
| **Electronics — 0.2%** | **Electronics — 0.2%** | **Electronics — 0.2%** |
| &nbsp;&nbsp;&nbsp;TD SYNNEX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 08/09/2026 | &nbsp;&nbsp; 872000 | &nbsp;&nbsp;&nbsp;&nbsp; 844315 |
| **Food — 0.2%** | **Food — 0.2%** | **Food — 0.2%** |
| &nbsp;&nbsp;&nbsp;Conagra Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 10/01/2026 | &nbsp;&nbsp; 835000 | &nbsp;&nbsp;&nbsp;&nbsp; 840401 |
| **Forest Products & Paper — 0.8%** | **Forest Products & Paper — 0.8%** | **Forest Products & Paper — 0.8%** |
| &nbsp;&nbsp;&nbsp;Georgia-Pacific LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 09/30/2025\* | &nbsp;&nbsp; 2833000 | &nbsp;&nbsp;&nbsp;&nbsp; 2819918 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Ultra-Short Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Gas — 0.5%** | **Gas — 0.5%** | **Gas — 0.5%** |
| &nbsp;&nbsp;&nbsp;NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.95%, 08/15/2025 | $1874000 | &nbsp;&nbsp;$1871546 |
| **Healthcare-Products — 0.7%** | **Healthcare-Products — 0.7%** | **Healthcare-Products — 0.7%** |
| &nbsp;&nbsp;&nbsp;Baxter International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.92%, 02/01/2027 | &nbsp;&nbsp; 879000 | &nbsp;&nbsp;&nbsp;&nbsp; 845942 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 02/19/2027 | &nbsp;&nbsp; 1636000 | &nbsp;&nbsp;&nbsp;&nbsp; 1643366 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2489308 |
| **Healthcare-Services — 1.7%** | **Healthcare-Services — 1.7%** | **Healthcare-Services — 1.7%** |
| &nbsp;&nbsp;&nbsp;Cigna Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.25%, 03/15/2026 | &nbsp;&nbsp; 411000 | &nbsp;&nbsp;&nbsp;&nbsp; 402516 |
| &nbsp;&nbsp;&nbsp;HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 03/15/2027 | &nbsp;&nbsp; 912000 | &nbsp;&nbsp;&nbsp;&nbsp; 891460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 02/15/2027 | &nbsp;&nbsp; 177000 | &nbsp;&nbsp;&nbsp;&nbsp; 176589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 03/01/2028 | &nbsp;&nbsp; 216000 | &nbsp;&nbsp;&nbsp;&nbsp; 218328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 06/15/2026 | &nbsp;&nbsp; 533000 | &nbsp;&nbsp;&nbsp;&nbsp; 533732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 02/15/2026 | &nbsp;&nbsp; 405000 | &nbsp;&nbsp;&nbsp;&nbsp; 405321 |
| &nbsp;&nbsp;&nbsp;Laboratory Corp. of America Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.55%, 06/01/2026 | &nbsp;&nbsp; 1760000 | &nbsp;&nbsp;&nbsp;&nbsp; 1717176 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.45%, 06/01/2026 | &nbsp;&nbsp; 1648000 | &nbsp;&nbsp;&nbsp;&nbsp; 1633521 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5978643 |
| **Insurance — 9.5%** | **Insurance — 9.5%** | **Insurance — 9.5%** |
| &nbsp;&nbsp;&nbsp;Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.86%, 08/27/2026\* | &nbsp;&nbsp; 2911000 | &nbsp;&nbsp;&nbsp;&nbsp; 2920833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 01/07/2027\* | &nbsp;&nbsp; 702000 | &nbsp;&nbsp;&nbsp;&nbsp; 705113 |
| &nbsp;&nbsp;&nbsp;Athene Global Funding FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.01%, (SOFR+0.68%), 08/10/2026\* | &nbsp;&nbsp; 754000 | &nbsp;&nbsp;&nbsp;&nbsp; 754153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.08%, (SOFR+0.75%), 07/16/2026\* | &nbsp;&nbsp; 497000 | &nbsp;&nbsp;&nbsp;&nbsp; 497729 |
| &nbsp;&nbsp;&nbsp;CNA Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 03/01/2026 | &nbsp;&nbsp; 2697000 | &nbsp;&nbsp;&nbsp;&nbsp; 2693198 |
| &nbsp;&nbsp;&nbsp;CNO Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 09/09/2029\* | &nbsp;&nbsp; 257000 | &nbsp;&nbsp;&nbsp;&nbsp; 259022 |
| &nbsp;&nbsp;&nbsp;Equitable Financial Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.70%, 11/12/2026\* | &nbsp;&nbsp; 1546000 | &nbsp;&nbsp;&nbsp;&nbsp; 1490419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 04/01/2027\* | &nbsp;&nbsp; 1680000 | &nbsp;&nbsp;&nbsp;&nbsp; 1685058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 11/19/2027\* | &nbsp;&nbsp; 896000 | &nbsp;&nbsp;&nbsp;&nbsp; 903410 |
| &nbsp;&nbsp;&nbsp;F&G Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 04/11/2027\* | &nbsp;&nbsp; 129000 | &nbsp;&nbsp;&nbsp;&nbsp; 123950 |
| &nbsp;&nbsp;&nbsp;Jackson National Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 01/13/2027\* | &nbsp;&nbsp; 923000 | &nbsp;&nbsp;&nbsp;&nbsp; 926599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 07/02/2027\* | &nbsp;&nbsp; 740000 | &nbsp;&nbsp;&nbsp;&nbsp; 752797 |
| &nbsp;&nbsp;&nbsp;Jackson National Life Global Funding FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.23%, (SOFR+0.89%), 06/09/2027\* | &nbsp;&nbsp; 2859000 | &nbsp;&nbsp;&nbsp;&nbsp; 2867569 |
| &nbsp;&nbsp;&nbsp;MassMutual Global Funding II FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, (SOFR+0.68%), 08/01/2028\* | &nbsp;&nbsp; 2680000 | &nbsp;&nbsp;&nbsp;&nbsp; 2685119 |
| &nbsp;&nbsp;&nbsp;Mutual of Omaha Cos. Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.51%, 06/09/2028\* | &nbsp;&nbsp; 933000 | &nbsp;&nbsp;&nbsp;&nbsp; 932139 |
| &nbsp;&nbsp;&nbsp;New York Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40%, 12/13/2027\* | &nbsp;&nbsp; 1351000 | &nbsp;&nbsp;&nbsp;&nbsp; 1351676 |
| &nbsp;&nbsp;&nbsp;New York Life Global Funding FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, (SOFR+0.41%), 02/05/2027\* | &nbsp;&nbsp; 3005000 | &nbsp;&nbsp;&nbsp;&nbsp; 3005035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.89%, (SOFR+0.55%), 06/11/2027\* | &nbsp;&nbsp; 2064000 | &nbsp;&nbsp;&nbsp;&nbsp; 2071137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.01%, (SOFR+0.67%), 04/02/2027\* | &nbsp;&nbsp; 206000 | &nbsp;&nbsp;&nbsp;&nbsp; 206837 |
| &nbsp;&nbsp;&nbsp;Pacific Life Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 05/01/2028\* | &nbsp;&nbsp; 496000 | &nbsp;&nbsp;&nbsp;&nbsp; 498640 |
| &nbsp;&nbsp;&nbsp;Pacific Life Global Funding II FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.08%, (SOFR+0.75%), 07/10/2028\* | &nbsp;&nbsp; 1475000 | &nbsp;&nbsp;&nbsp;&nbsp; 1482744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, (SOFR+1.05%), 07/28/2026\* | &nbsp;&nbsp; 3266000 | &nbsp;&nbsp;&nbsp;&nbsp; 3288839 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| &nbsp;&nbsp;&nbsp;Western-Southern Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 07/16/2028\* | $615000 | &nbsp;&nbsp;$615554 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;32717570 |
| **Internet — 0.5%** | **Internet — 0.5%** | **Internet — 0.5%** |
| &nbsp;&nbsp;&nbsp;eBay, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.40%, 05/10/2026 | &nbsp;&nbsp; 1739000 | &nbsp;&nbsp;&nbsp;&nbsp; 1698384 |
| **Iron/Steel — 0.1%** | **Iron/Steel — 0.1%** | **Iron/Steel — 0.1%** |
| &nbsp;&nbsp;&nbsp;POSCO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 01/23/2027\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 400961 |
| **Lodging — 0.5%** | **Lodging — 0.5%** | **Lodging — 0.5%** |
| &nbsp;&nbsp;&nbsp;Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 06/15/2026 | &nbsp;&nbsp; 1701000 | &nbsp;&nbsp;&nbsp;&nbsp; 1680586 |
| **Machinery-Construction & Mining — 0.6%** | **Machinery-Construction & Mining — 0.6%** | **Machinery-Construction & Mining — 0.6%** |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.87%, (SOFR+0.53%), 07/07/2027 | &nbsp;&nbsp; 2156000 | &nbsp;&nbsp;&nbsp;&nbsp; 2156886 |
| **Machinery-Diversified — 0.1%** | **Machinery-Diversified — 0.1%** | **Machinery-Diversified — 0.1%** |
| &nbsp;&nbsp;&nbsp;CNH Industrial Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.88%, 01/15/2026 | &nbsp;&nbsp; 204000 | &nbsp;&nbsp;&nbsp;&nbsp; 201175 |
| **Media — 0.2%** | **Media — 0.2%** | **Media — 0.2%** |
| &nbsp;&nbsp;&nbsp;Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 10/15/2025 | &nbsp;&nbsp; 311000 | &nbsp;&nbsp;&nbsp;&nbsp; 310480 |
| &nbsp;&nbsp;&nbsp;Cox Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35%, 09/15/2026\* | &nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 216643 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527123 |
| **Mining — 0.8%** | **Mining — 0.8%** | **Mining — 0.8%** |
| &nbsp;&nbsp;&nbsp;Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.63%, 04/27/2026\* | &nbsp;&nbsp; 570000 | &nbsp;&nbsp;&nbsp;&nbsp; 557187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 03/27/2027\* | &nbsp;&nbsp; 1534000 | &nbsp;&nbsp;&nbsp;&nbsp; 1518663 |
| &nbsp;&nbsp;&nbsp;Glencore Funding LLC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, (SOFR+0.75%), 10/01/2026\* | &nbsp;&nbsp; 463000 | &nbsp;&nbsp;&nbsp;&nbsp; 463484 |
| &nbsp;&nbsp;&nbsp;Rio Tinto Finance USA PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 03/12/2027 | &nbsp;&nbsp; 199000 | &nbsp;&nbsp;&nbsp;&nbsp; 199546 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2738880 |
| **Miscellaneous Manufacturing — 0.0%** | **Miscellaneous Manufacturing — 0.0%** | **Miscellaneous Manufacturing — 0.0%** |
| &nbsp;&nbsp;&nbsp;Teledyne Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.60%, 04/01/2026 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 122449 |
| **Oil & Gas — 0.8%** | **Oil & Gas — 0.8%** | **Oil & Gas — 0.8%** |
| &nbsp;&nbsp;&nbsp;Woodside Finance, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 09/15/2026\* | &nbsp;&nbsp; 2615000 | &nbsp;&nbsp;&nbsp;&nbsp; 2584240 |
| **Packaging & Containers — 0.7%** | **Packaging & Containers — 0.7%** | **Packaging & Containers — 0.7%** |
| &nbsp;&nbsp;&nbsp;Amcor Finance USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 04/28/2026 | &nbsp;&nbsp; 1357000 | &nbsp;&nbsp;&nbsp;&nbsp; 1345098 |
| &nbsp;&nbsp;&nbsp;Amcor Flexibles North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 03/17/2028\* | &nbsp;&nbsp; 337000 | &nbsp;&nbsp;&nbsp;&nbsp; 338906 |
| &nbsp;&nbsp;&nbsp;Sonoco Products Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 09/01/2026 | &nbsp;&nbsp; 841000 | &nbsp;&nbsp;&nbsp;&nbsp; 839299 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2523303 |
| **Pharmaceuticals — 0.9%** | **Pharmaceuticals — 0.9%** | **Pharmaceuticals — 0.9%** |
| &nbsp;&nbsp;&nbsp;Cardinal Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 11/15/2026 | &nbsp;&nbsp; 422000 | &nbsp;&nbsp;&nbsp;&nbsp; 422603 |
| &nbsp;&nbsp;&nbsp;Evernorth Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 02/25/2026 | &nbsp;&nbsp; 1637000 | &nbsp;&nbsp;&nbsp;&nbsp; 1632873 |
| &nbsp;&nbsp;&nbsp;Mead Johnson Nutrition Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 11/15/2025 | &nbsp;&nbsp; 1081000 | &nbsp;&nbsp;&nbsp;&nbsp; 1079417 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3134893 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Ultra-Short Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Pipelines — 1.4%** | **Pipelines — 1.4%** | **Pipelines — 1.4%** |
| &nbsp;&nbsp;&nbsp;ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 09/24/2027 | $940000 | &nbsp;&nbsp;$935737 |
| &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 03/15/2027 | &nbsp;&nbsp; 322000 | &nbsp;&nbsp;&nbsp;&nbsp; 323154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 06/30/2026 | &nbsp;&nbsp; 277000 | &nbsp;&nbsp;&nbsp;&nbsp; 278320 |
| &nbsp;&nbsp;&nbsp;Williams Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 03/02/2026 | &nbsp;&nbsp; 3221000 | &nbsp;&nbsp;&nbsp;&nbsp; 3235730 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4772941 |
| **REITS — 1.2%** | **REITS — 1.2%** | **REITS — 1.2%** |
| &nbsp;&nbsp;&nbsp;American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 01/15/2027 | &nbsp;&nbsp; 863000 | &nbsp;&nbsp;&nbsp;&nbsp; 845024 |
| &nbsp;&nbsp;&nbsp;Boston Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 02/01/2026 | &nbsp;&nbsp; 286000 | &nbsp;&nbsp;&nbsp;&nbsp; 284461 |
| &nbsp;&nbsp;&nbsp;Brixmor Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 06/15/2026 | &nbsp;&nbsp; 1691000 | &nbsp;&nbsp;&nbsp;&nbsp; 1684611 |
| &nbsp;&nbsp;&nbsp;Equinix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.45%, 05/15/2026 | &nbsp;&nbsp; 592000 | &nbsp;&nbsp;&nbsp;&nbsp; 576903 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 04/15/2026 | &nbsp;&nbsp; 195000 | &nbsp;&nbsp;&nbsp;&nbsp; 193216 |
| &nbsp;&nbsp;&nbsp;Scentre Group Trust 1/Scentre Group Trust 2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 01/28/2026\* | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 497219 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4081434 |
| **Retail — 1.4%** | **Retail — 1.4%** | **Retail — 1.4%** |
| &nbsp;&nbsp;&nbsp;AutoZone, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 07/15/2026 | &nbsp;&nbsp; 1711000 | &nbsp;&nbsp;&nbsp;&nbsp; 1720031 |
| &nbsp;&nbsp;&nbsp;Darden Restaurants, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.35%, 10/15/2027 | &nbsp;&nbsp; 382000 | &nbsp;&nbsp;&nbsp;&nbsp; 380863 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 04/15/2026 | &nbsp;&nbsp; 2637000 | &nbsp;&nbsp;&nbsp;&nbsp; 2597522 |
| &nbsp;&nbsp;&nbsp;Starbucks Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 08/15/2025 | &nbsp;&nbsp; 218000 | &nbsp;&nbsp;&nbsp;&nbsp; 217911 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4916327 |
| **Semiconductors — 0.6%** | **Semiconductors — 0.6%** | **Semiconductors — 0.6%** |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.21%, 09/24/2026 | &nbsp;&nbsp; 515000 | &nbsp;&nbsp;&nbsp;&nbsp; 514960 |
| &nbsp;&nbsp;&nbsp;NXP BV/NXP Funding LLC/NXP USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 06/18/2026 | &nbsp;&nbsp; 1725000 | &nbsp;&nbsp;&nbsp;&nbsp; 1714502 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2229462 |
| **Software — 0.9%** | **Software — 0.9%** | **Software — 0.9%** |
| &nbsp;&nbsp;&nbsp;Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.65%, 03/25/2026 | &nbsp;&nbsp; 1725000 | &nbsp;&nbsp;&nbsp;&nbsp; 1692907 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 03/28/2026 | &nbsp;&nbsp; 625000 | &nbsp;&nbsp;&nbsp;&nbsp; 626294 |
| &nbsp;&nbsp;&nbsp;VMware LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.40%, 08/15/2026 | &nbsp;&nbsp; 824000 | &nbsp;&nbsp;&nbsp;&nbsp; 798283 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3117484 |
| **Telecommunications — 1.4%** | **Telecommunications — 1.4%** | **Telecommunications — 1.4%** |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.70%, 03/25/2026 | &nbsp;&nbsp; 1724000 | &nbsp;&nbsp;&nbsp;&nbsp; 1692661 |
| &nbsp;&nbsp;&nbsp;NBN Co., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 10/01/2027\* | &nbsp;&nbsp; 552000 | &nbsp;&nbsp;&nbsp;&nbsp; 545855 |
| &nbsp;&nbsp;&nbsp;NTT Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.57%, 07/16/2027\* | &nbsp;&nbsp; 296000 | &nbsp;&nbsp;&nbsp;&nbsp; 296215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.62%, 07/16/2028\* | &nbsp;&nbsp; 402000 | &nbsp;&nbsp;&nbsp;&nbsp; 402710 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 02/15/2026 | &nbsp;&nbsp; 1741000 | &nbsp;&nbsp;&nbsp;&nbsp; 1716011 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4653452 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Transportation — 1.1%** | **Transportation — 1.1%** | **Transportation — 1.1%** |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 02/01/2026 | $2583000 | &nbsp;&nbsp;$2568980 |
| &nbsp;&nbsp;&nbsp;FedEx Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 04/01/2026 | &nbsp;&nbsp; 1215000 | &nbsp;&nbsp;&nbsp;&nbsp; 1203962 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3772942 |
| **Trucking & Leasing — 0.6%** | **Trucking & Leasing — 0.6%** | **Trucking & Leasing — 0.6%** |
| &nbsp;&nbsp;&nbsp;Penske Truck Leasing Co. LP/PTL Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.20%, 11/15/2025\* | &nbsp;&nbsp; 1991000 | &nbsp;&nbsp;&nbsp;&nbsp; 1970506 |
| **Total Corporate Bonds & Notes<br> (cost $250,717,787)** |  | &nbsp;&nbsp;&nbsp;&nbsp;251234832 |
| **ASSET BACKED SECURITIES — 13.2%** | **ASSET BACKED SECURITIES — 13.2%** | **ASSET BACKED SECURITIES — 13.2%** |
| **Auto Loan Receivables — 3.7%** | **Auto Loan Receivables — 3.7%** | **Auto Loan Receivables — 3.7%** |
| &nbsp;&nbsp;&nbsp;BofA Auto Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 5.57%, 12/15/2026\* | &nbsp;&nbsp; 283428 | &nbsp;&nbsp;&nbsp;&nbsp; 283674 |
| &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-C, Class A3<br> 4.48%, 12/15/2026 | &nbsp;&nbsp; 711497 | &nbsp;&nbsp;&nbsp;&nbsp; 711231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-C, Class A3<br> 5.53%, 09/15/2028 | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp;&nbsp;&nbsp; 3430094 |
| &nbsp;&nbsp;&nbsp;GM Financial Automobile Leasing Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2, Class A2A<br> 5.43%, 09/21/2026 | &nbsp;&nbsp; 481765 | &nbsp;&nbsp;&nbsp;&nbsp; 482643 |
| &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-2, Class A3<br> 4.47%, 02/16/2028 | &nbsp;&nbsp; 2878541 | &nbsp;&nbsp;&nbsp;&nbsp; 2881999 |
| &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-A, Class A2A<br> 5.29%, 04/15/2027 | &nbsp;&nbsp; 383418 | &nbsp;&nbsp;&nbsp;&nbsp; 383911 |
| &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-A, Class A2A<br> 5.44%, 02/16/2027 | &nbsp;&nbsp; 1141039 | &nbsp;&nbsp;&nbsp;&nbsp; 1143378 |
| &nbsp;&nbsp;&nbsp;Nissan Auto Receivables Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-B, Class A3<br> 4.46%, 05/17/2027 | &nbsp;&nbsp; 567846 | &nbsp;&nbsp;&nbsp;&nbsp; 567482 |
| &nbsp;&nbsp;&nbsp;Porsche Financial Auto Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1A, Class A3<br> 4.81%, 09/22/2028\* | &nbsp;&nbsp; 469838 | &nbsp;&nbsp;&nbsp;&nbsp; 470378 |
| &nbsp;&nbsp;&nbsp;SBNA Auto Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-C, Class A2<br> 4.94%, 11/20/2026\* | &nbsp;&nbsp; 656305 | &nbsp;&nbsp;&nbsp;&nbsp; 656570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-A, Class A3<br> 5.39%, 11/20/2026\* | &nbsp;&nbsp; 1150294 | &nbsp;&nbsp;&nbsp;&nbsp; 1152498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-B, Class A2<br> 5.67%, 11/20/2026\* | &nbsp;&nbsp; 140436 | &nbsp;&nbsp;&nbsp;&nbsp; 140526 |
| &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-B, Class A2A<br> 5.48%, 09/15/2027 | &nbsp;&nbsp; 614812 | &nbsp;&nbsp;&nbsp;&nbsp; 615512 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;12919896 |
| **Credit Card Receivables — 1.2%** | **Credit Card Receivables — 1.2%** | **Credit Card Receivables — 1.2%** |
| &nbsp;&nbsp;&nbsp;American Express Credit Account Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-3, Class A<br> 3.75%, 08/15/2027 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp;&nbsp;&nbsp; 2099146 |
| &nbsp;&nbsp;&nbsp;Discover Card Execution Note Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-A4, Class A<br> 5.03%, 10/15/2027 | &nbsp;&nbsp; 2039000 | &nbsp;&nbsp;&nbsp;&nbsp; 2041091 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4140237 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Ultra-Short Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |
| **Other Asset Backed Securities — 8.3%** | **Other Asset Backed Securities — 8.3%** | **Other Asset Backed Securities — 8.3%** |
| &nbsp;&nbsp;&nbsp;Apidos CLO XXIII FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-23A, Class ARR<br> 5.37%, (TSFR3M+1.05%), 04/15/2033\* | $1677458 | &nbsp;&nbsp;$1674989 |
| &nbsp;&nbsp;&nbsp;Apidos CLO XXXI FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-31A, Class A1R<br> 5.68%, (TSFR3M+1.36%), 04/15/2031\* | &nbsp;&nbsp; 1890041 | &nbsp;&nbsp;&nbsp;&nbsp; 1894292 |
| &nbsp;&nbsp;&nbsp;Ares XXXVII CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-4A, Class A1RR<br> 5.40%, (TSFR3M+1.08%), 10/15/2030\* | &nbsp;&nbsp; 438119 | &nbsp;&nbsp;&nbsp;&nbsp; 437952 |
| &nbsp;&nbsp;&nbsp;Bain Capital Credit CLO FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-2A, Class AR3<br> 5.24%, (TSFR3M+0.92%), 10/17/2032\* | &nbsp;&nbsp; 1535546 | &nbsp;&nbsp;&nbsp;&nbsp; 1536429 |
| &nbsp;&nbsp;&nbsp;Barings CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-4A, Class A1R<br> 5.47%, (TSFR3M+1.15%), 10/15/2030\* | &nbsp;&nbsp; 1799937 | &nbsp;&nbsp;&nbsp;&nbsp; 1801279 |
| &nbsp;&nbsp;&nbsp;Benefit Street Partners CLO VIII, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-8A, Class A1AR<br> 5.69%, (TSFR3M+1.36%), 01/20/2031\* | &nbsp;&nbsp; 77958 | &nbsp;&nbsp;&nbsp;&nbsp; 77958 |
| &nbsp;&nbsp;&nbsp;Buttermilk Park CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-1A, Class A1R<br> 5.40%, (TSFR3M+1.08%), 10/15/2031\* | &nbsp;&nbsp; 1119185 | &nbsp;&nbsp;&nbsp;&nbsp; 1119155 |
| &nbsp;&nbsp;&nbsp;CarVal CLO II, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-1A, Class AR2<br> 5.35%, (TSFR3M+1.02%), 04/20/2032\* | &nbsp;&nbsp; 1498158 | &nbsp;&nbsp;&nbsp;&nbsp; 1498398 |
| &nbsp;&nbsp;&nbsp;CIFC Funding, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-1A, Class AR3<br> 5.33%, (TSFR3M+1.00%), 10/21/2031\* | &nbsp;&nbsp; 1593595 | &nbsp;&nbsp;&nbsp;&nbsp; 1590616 |
| &nbsp;&nbsp;&nbsp;Dewolf Park CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-1A, Class AR<br> 5.50%, (TSFR3M+1.18%), 10/15/2030\* | &nbsp;&nbsp; 876579 | &nbsp;&nbsp;&nbsp;&nbsp; 876957 |
| &nbsp;&nbsp;&nbsp;Dryden CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-64A, Class A<br> 5.56%, (TSFR3M+1.23%), 04/18/2031\* | &nbsp;&nbsp; 977094 | &nbsp;&nbsp;&nbsp;&nbsp; 979228 |
| &nbsp;&nbsp;&nbsp;Dryden XXVI Senior Loan Fund FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-26A, Class AR<br> 5.48%, (TSFR3M+1.16%), 04/15/2029\* | &nbsp;&nbsp; 346301 | &nbsp;&nbsp;&nbsp;&nbsp; 346953 |
| &nbsp;&nbsp;&nbsp;Galaxy XXVI CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-26A, Class AR<br> 5.50%, (TSFR3M+1.17%), 11/22/2031\* | &nbsp;&nbsp; 882203 | &nbsp;&nbsp;&nbsp;&nbsp; 882807 |
| &nbsp;&nbsp;&nbsp;Jamestown CLO XVII, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-17A, Class AR<br> 5.48%, (TSFR3M+1.20%), 01/25/2035\* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1000904 |
| &nbsp;&nbsp;&nbsp;John Deere Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-C, Class A3<br> 5.09%, 06/15/2027 | &nbsp;&nbsp; 784353 | &nbsp;&nbsp;&nbsp;&nbsp; 786036 |
| &nbsp;&nbsp;&nbsp;KKR Static CLO I LTD FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1A, Class AR2<br> 5.31%, (TSFR3M+0.98%), 07/20/2031\* | &nbsp;&nbsp; 1122560 | &nbsp;&nbsp;&nbsp;&nbsp; 1121416 |
| &nbsp;&nbsp;&nbsp;Palmer Square Loan Funding, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1A, Class A1<br> 5.12%, (TSFR3M+0.80%), 02/15/2033\* | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp;&nbsp;&nbsp; 1694681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A1<br> 5.37%, (TSFR3M+1.05%), 10/15/2032\* | &nbsp;&nbsp; 555584 | &nbsp;&nbsp;&nbsp;&nbsp; 555186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-3A, Class A1<br> 5.39%, (TSFR3M+1.08%), 08/08/2032\* | &nbsp;&nbsp; 2640468 | &nbsp;&nbsp;&nbsp;&nbsp; 2643636 |
| &nbsp;&nbsp;&nbsp;Rad CLO 10, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-10A, Class A<br> 5.75%, (TSFR3M+1.43%), 04/23/2034\* | &nbsp;&nbsp; 3250000 | &nbsp;&nbsp;&nbsp;&nbsp; 3254875 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** |  |
| &nbsp;&nbsp;&nbsp;SCF Equipment Leasing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 5.88%, 11/20/2029\* | $292944 | &nbsp;&nbsp;$294422 |
| &nbsp;&nbsp;&nbsp;Symphony CLO XX, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-20A, Class AR2<br> 5.42%, (TSFR3M+1.10%), 01/16/2032\* | &nbsp;&nbsp; 1812131 | &nbsp;&nbsp;&nbsp;&nbsp; 1812519 |
| &nbsp;&nbsp;&nbsp;Wind River CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-4A, Class AR<br> 5.56%, (TSFR3M+1.23%), 01/20/2035\* | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 700071 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;28580759 |
| **Total Asset Backed Securities<br> (cost $45,602,979)** |  | &nbsp;&nbsp;&nbsp;&nbsp;45640892 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 6.6%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 6.6%** |  |
| **U.S. Government — 6.6%** | **U.S. Government — 6.6%** |  |
| &nbsp;&nbsp;&nbsp;United States Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 09/30/2026 | &nbsp;&nbsp;16000000 | &nbsp;&nbsp;&nbsp;&nbsp; 15881875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 02/28/2027 | &nbsp;&nbsp; 6700000 | &nbsp;&nbsp;&nbsp;&nbsp; 6709422 |
| **Total U.S. Government & Agency Obligations<br> (cost $22,623,418)** |  | &nbsp;&nbsp;&nbsp;&nbsp;22591297 |
| **Total Long-Term Investment Securities<br> (cost $318,944,184)** |  | &nbsp;&nbsp;&nbsp;&nbsp;319467021 |
| **SHORT-TERM INVESTMENTS — 7.1%** | **SHORT-TERM INVESTMENTS — 7.1%** |  |
| **Oil & Gas Services — 1.4%** | **Oil & Gas Services — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;Chevron Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.26%, 12/15/2025 | &nbsp;&nbsp; 4846000 | &nbsp;&nbsp;&nbsp;&nbsp; 4767069 |
| **Unaffiliated Investment Companies — 5.7%** | **Unaffiliated Investment Companies — 5.7%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(1) | &nbsp;&nbsp;19899884 | &nbsp;&nbsp;&nbsp;&nbsp; 19899884 |
| **Total Short-Term Investments<br> (cost $24,667,896)** |  | &nbsp;&nbsp;&nbsp;&nbsp;24666953 |
| **TOTAL INVESTMENTS<br> (cost $343,612,080)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.5% | &nbsp;&nbsp;&nbsp;&nbsp;344133974 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1775672 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$345909646 |

---

\* Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The SA JPMorgan Ultra-Short Bond Portfolio has no right to demand registration of these securities. At July 31, 2025, the aggregate value of these securities was $130,274,428 representing 37.7% of net assets.

(1) The rate shown is the 7-day yield as of July 31, 2025.

(2) See Note 4 for cost of investments on a tax basis.

---

| |
|:---|
| CLO—Collateralized Loan Obligation |
| DAC—Designated Activity Company |
| FRS—Floating Rate Security |
| SOFR—Secured Overnight Financing Rate |
| TSFR3M—Term Secured Overnight Financing Rate 3 Month |

---

The rates shown on FRS and/or VRS are the current interest rates at July 31, 2025 and unless noted otherwise, the dates shown are the original maturity dates.

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA JPMorgan Ultra-Short Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp;$— | &nbsp;&nbsp;$251234832 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$251234832 |
| Asset Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;45640892 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;45640892 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;22591297 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;22591297 |
| Short-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Oil & Gas Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4767069 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4767069 |
| &nbsp;&nbsp;&nbsp;Other Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;19899884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;19899884 |
| **Total Investments at Value** | &nbsp;&nbsp;$19899884 | &nbsp;&nbsp;$324234090 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$344133974 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Large Cap Growth Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.5%** | **COMMON STOCKS — 99.5%** | **COMMON STOCKS — 99.5%** |
| **Advertising — 0.1%** | **Advertising — 0.1%** | **Advertising — 0.1%** |
| &nbsp;&nbsp;&nbsp;Trade Desk, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;11330 | &nbsp;&nbsp;$985257 |
| **Aerospace/Defense — 1.4%** | **Aerospace/Defense — 1.4%** | **Aerospace/Defense — 1.4%** |
| &nbsp;&nbsp;&nbsp;General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;11048 | &nbsp;&nbsp;&nbsp;&nbsp; 2994892 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10276 | &nbsp;&nbsp;&nbsp;&nbsp; 1847317 |
| &nbsp;&nbsp;&nbsp;RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;19243 | &nbsp;&nbsp;&nbsp;&nbsp; 3032119 |
| &nbsp;&nbsp;&nbsp;TransDigm Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1416 | &nbsp;&nbsp;&nbsp;&nbsp; 2277579 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10151907 |
| **Agriculture — 0.6%** | **Agriculture — 0.6%** | **Agriculture — 0.6%** |
| &nbsp;&nbsp;&nbsp;Altria Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19724 | &nbsp;&nbsp;&nbsp;&nbsp; 1221705 |
| &nbsp;&nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21260 | &nbsp;&nbsp;&nbsp;&nbsp; 3487703 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4709408 |
| **Airlines — 0.2%** | **Airlines — 0.2%** | **Airlines — 0.2%** |
| &nbsp;&nbsp;&nbsp;Delta Air Lines, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16448 | &nbsp;&nbsp;&nbsp;&nbsp; 875198 |
| &nbsp;&nbsp;&nbsp;United Airlines Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8363 | &nbsp;&nbsp;&nbsp;&nbsp; 738537 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1613735 |
| **Apparel — 0.2%** | **Apparel — 0.2%** | **Apparel — 0.2%** |
| &nbsp;&nbsp;&nbsp;Deckers Outdoor Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3775 | &nbsp;&nbsp;&nbsp;&nbsp; 400792 |
| &nbsp;&nbsp;&nbsp;Ralph Lauren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1048 | &nbsp;&nbsp;&nbsp;&nbsp; 313090 |
| &nbsp;&nbsp;&nbsp;Tapestry, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5233 | &nbsp;&nbsp;&nbsp;&nbsp; 565321 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1279203 |
| **Auto Manufacturers — 3.2%** | **Auto Manufacturers — 3.2%** | **Auto Manufacturers — 3.2%** |
| &nbsp;&nbsp;&nbsp;Cummins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3484 | &nbsp;&nbsp;&nbsp;&nbsp; 1280788 |
| &nbsp;&nbsp;&nbsp;PACCAR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7350 | &nbsp;&nbsp;&nbsp;&nbsp; 725886 |
| &nbsp;&nbsp;&nbsp;Tesla, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;70954 | &nbsp;&nbsp;&nbsp;&nbsp; 21872990 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;23879664 |
| **Banks — 2.0%** | **Banks — 2.0%** | **Banks — 2.0%** |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9721 | &nbsp;&nbsp;&nbsp;&nbsp; 986195 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;40110 | &nbsp;&nbsp;&nbsp;&nbsp; 11882186 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;13997 | &nbsp;&nbsp;&nbsp;&nbsp; 1994013 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14862394 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| &nbsp;&nbsp;&nbsp;Monster Beverage Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7725 | &nbsp;&nbsp;&nbsp;&nbsp; 453844 |
| **Biotechnology — 0.7%** | **Biotechnology — 0.7%** | **Biotechnology — 0.7%** |
| &nbsp;&nbsp;&nbsp;Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5886 | &nbsp;&nbsp;&nbsp;&nbsp; 1736959 |
| &nbsp;&nbsp;&nbsp;Incyte Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2531 | &nbsp;&nbsp;&nbsp;&nbsp; 189547 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6489 | &nbsp;&nbsp;&nbsp;&nbsp; 2964629 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4891135 |
| **Building Materials — 0.7%** | **Building Materials — 0.7%** | **Building Materials — 0.7%** |
| &nbsp;&nbsp;&nbsp;Builders FirstSource, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1385 | &nbsp;&nbsp;&nbsp;&nbsp; 176075 |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9608 | &nbsp;&nbsp;&nbsp;&nbsp; 659301 |
| &nbsp;&nbsp;&nbsp;Lennox International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807 | &nbsp;&nbsp;&nbsp;&nbsp; 491463 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;794 | &nbsp;&nbsp;&nbsp;&nbsp; 456455 |
| &nbsp;&nbsp;&nbsp;Masco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2282 | &nbsp;&nbsp;&nbsp;&nbsp; 155473 |
| &nbsp;&nbsp;&nbsp;Trane Technologies PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5630 | &nbsp;&nbsp;&nbsp;&nbsp; 2466390 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2069 | &nbsp;&nbsp;&nbsp;&nbsp; 568292 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4973449 |
| **Chemicals — 0.3%** | **Chemicals — 0.3%** | **Chemicals — 0.3%** |
| &nbsp;&nbsp;&nbsp;Ecolab, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3162 | &nbsp;&nbsp;&nbsp;&nbsp; 827685 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3340 | &nbsp;&nbsp;&nbsp;&nbsp; 1105139 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1932824 |
| **Commercial Services — 1.7%** | **Commercial Services — 1.7%** | **Commercial Services — 1.7%** |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5818 | &nbsp;&nbsp;&nbsp;&nbsp; 1800671 |
| &nbsp;&nbsp;&nbsp;Block, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5328 | &nbsp;&nbsp;&nbsp;&nbsp; 411641 |
| &nbsp;&nbsp;&nbsp;Cintas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8737 | &nbsp;&nbsp;&nbsp;&nbsp; 1944419 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| &nbsp;&nbsp;&nbsp;Corpay, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1764 | &nbsp;&nbsp;$569860 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1044869 |
| &nbsp;&nbsp;&nbsp;PayPal Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;16587 | &nbsp;&nbsp;&nbsp;&nbsp; 1140522 |
| &nbsp;&nbsp;&nbsp;Quanta Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3764 | &nbsp;&nbsp;&nbsp;&nbsp; 1528673 |
| &nbsp;&nbsp;&nbsp;Rollins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4278 | &nbsp;&nbsp;&nbsp;&nbsp; 245001 |
| &nbsp;&nbsp;&nbsp;S&P Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3714 | &nbsp;&nbsp;&nbsp;&nbsp; 2046786 |
| &nbsp;&nbsp;&nbsp;United Rentals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1655 | &nbsp;&nbsp;&nbsp;&nbsp; 1461266 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1562 | &nbsp;&nbsp;&nbsp;&nbsp; 435345 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;12629053 |
| **Computers — 6.6%** | **Computers — 6.6%** | **Computers — 6.6%** |
| &nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;173965 | &nbsp;&nbsp;&nbsp;&nbsp; 36109915 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6292 | &nbsp;&nbsp;&nbsp;&nbsp; 2860154 |
| &nbsp;&nbsp;&nbsp;Dell Technologies, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3487 | &nbsp;&nbsp;&nbsp;&nbsp; 462690 |
| &nbsp;&nbsp;&nbsp;Fortinet, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;16172 | &nbsp;&nbsp;&nbsp;&nbsp; 1615583 |
| &nbsp;&nbsp;&nbsp;Gartner, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1964 | &nbsp;&nbsp;&nbsp;&nbsp; 665109 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23533 | &nbsp;&nbsp;&nbsp;&nbsp; 5957379 |
| &nbsp;&nbsp;&nbsp;Leidos Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1655 | &nbsp;&nbsp;&nbsp;&nbsp; 264221 |
| &nbsp;&nbsp;&nbsp;NetApp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2509 | &nbsp;&nbsp;&nbsp;&nbsp; 261262 |
| &nbsp;&nbsp;&nbsp;Super Micro Computer, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12850 | &nbsp;&nbsp;&nbsp;&nbsp; 757764 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;48954077 |
| **Cosmetics/Personal Care — 0.1%** | **Cosmetics/Personal Care — 0.1%** | **Cosmetics/Personal Care — 0.1%** |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9139 | &nbsp;&nbsp;&nbsp;&nbsp; 766305 |
| **Distribution/Wholesale — 0.4%** | **Distribution/Wholesale — 0.4%** | **Distribution/Wholesale — 0.4%** |
| &nbsp;&nbsp;&nbsp;Copart, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;22109 | &nbsp;&nbsp;&nbsp;&nbsp; 1002201 |
| &nbsp;&nbsp;&nbsp;Fastenal Co. | &nbsp;&nbsp;&nbsp;&nbsp;16646 | &nbsp;&nbsp;&nbsp;&nbsp; 767880 |
| &nbsp;&nbsp;&nbsp;WW Grainger, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1102 | &nbsp;&nbsp;&nbsp;&nbsp; 1145573 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2915654 |
| **Diversified Financial Services — 5.1%** | **Diversified Financial Services — 5.1%** | **Diversified Financial Services — 5.1%** |
| &nbsp;&nbsp;&nbsp;American Express Co. | &nbsp;&nbsp;&nbsp;&nbsp;14014 | &nbsp;&nbsp;&nbsp;&nbsp; 4194530 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2424 | &nbsp;&nbsp;&nbsp;&nbsp; 1256093 |
| &nbsp;&nbsp;&nbsp;Apollo Global Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11493 | &nbsp;&nbsp;&nbsp;&nbsp; 1670163 |
| &nbsp;&nbsp;&nbsp;Coinbase Global, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2637 | &nbsp;&nbsp;&nbsp;&nbsp; 996153 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7593 | &nbsp;&nbsp;&nbsp;&nbsp; 1403414 |
| &nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;20539 | &nbsp;&nbsp;&nbsp;&nbsp; 11634727 |
| &nbsp;&nbsp;&nbsp;Nasdaq, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4219 | &nbsp;&nbsp;&nbsp;&nbsp; 405952 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2860 | &nbsp;&nbsp;&nbsp;&nbsp; 477992 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9551 | &nbsp;&nbsp;&nbsp;&nbsp; 665418 |
| &nbsp;&nbsp;&nbsp;Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;43323 | &nbsp;&nbsp;&nbsp;&nbsp; 14966797 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;37671239 |
| **Electric — 1.2%** | **Electric — 1.2%** | **Electric — 1.2%** |
| &nbsp;&nbsp;&nbsp;Constellation Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7911 | &nbsp;&nbsp;&nbsp;&nbsp; 2751762 |
| &nbsp;&nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34804 | &nbsp;&nbsp;&nbsp;&nbsp; 2473172 |
| &nbsp;&nbsp;&nbsp;NRG Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4969 | &nbsp;&nbsp;&nbsp;&nbsp; 830817 |
| &nbsp;&nbsp;&nbsp;PPL Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9474 | &nbsp;&nbsp;&nbsp;&nbsp; 338127 |
| &nbsp;&nbsp;&nbsp;Public Service Enterprise Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5896 | &nbsp;&nbsp;&nbsp;&nbsp; 529402 |
| &nbsp;&nbsp;&nbsp;Vistra Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8638 | &nbsp;&nbsp;&nbsp;&nbsp; 1801369 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8724649 |
| **Electrical Components & Equipment — 0.8%** | **Electrical Components & Equipment — 0.8%** | **Electrical Components & Equipment — 0.8%** |
| &nbsp;&nbsp;&nbsp;AMETEK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2732 | &nbsp;&nbsp;&nbsp;&nbsp; 505010 |
| &nbsp;&nbsp;&nbsp;Eaton Corp. PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9904 | &nbsp;&nbsp;&nbsp;&nbsp; 3810267 |
| &nbsp;&nbsp;&nbsp;Emerson Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9737 | &nbsp;&nbsp;&nbsp;&nbsp; 1416831 |
| &nbsp;&nbsp;&nbsp;Generac Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970 | &nbsp;&nbsp;&nbsp;&nbsp; 188849 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5920957 |
| **Electronics — 0.7%** | **Electronics — 0.7%** | **Electronics — 0.7%** |
| &nbsp;&nbsp;&nbsp;Allegion PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1210 | &nbsp;&nbsp;&nbsp;&nbsp; 200763 |
| &nbsp;&nbsp;&nbsp;Amphenol Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;30581 | &nbsp;&nbsp;&nbsp;&nbsp; 3257182 |
| &nbsp;&nbsp;&nbsp;Garmin, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3930 | &nbsp;&nbsp;&nbsp;&nbsp; 859727 |
| &nbsp;&nbsp;&nbsp;Hubbell, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1355 | &nbsp;&nbsp;&nbsp;&nbsp; 592785 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Large Cap Growth Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Electronics (continued)** | **Electronics (continued)** | **Electronics (continued)** |
| &nbsp;&nbsp;&nbsp;Mettler-Toledo International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208 | &nbsp;&nbsp;$256606 |
| &nbsp;&nbsp;&nbsp;Trimble, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2553 | &nbsp;&nbsp;&nbsp;&nbsp; 214171 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5381234 |
| **Energy-Alternate Sources — 0.0%** | **Energy-Alternate Sources — 0.0%** | **Energy-Alternate Sources — 0.0%** |
| &nbsp;&nbsp;&nbsp;First Solar, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1490 | &nbsp;&nbsp;&nbsp;&nbsp; 260348 |
| **Entertainment — 0.1%** | **Entertainment — 0.1%** | **Entertainment — 0.1%** |
| &nbsp;&nbsp;&nbsp;Live Nation Entertainment, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3973 | &nbsp;&nbsp;&nbsp;&nbsp; 586812 |
| &nbsp;&nbsp;&nbsp;TKO Group Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1749 | &nbsp;&nbsp;&nbsp;&nbsp; 293850 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880662 |
| **Environmental Control — 0.4%** | **Environmental Control — 0.4%** | **Environmental Control — 0.4%** |
| &nbsp;&nbsp;&nbsp;Pentair PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2606 | &nbsp;&nbsp;&nbsp;&nbsp; 266333 |
| &nbsp;&nbsp;&nbsp;Republic Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5151 | &nbsp;&nbsp;&nbsp;&nbsp; 1188078 |
| &nbsp;&nbsp;&nbsp;Veralto Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2908 | &nbsp;&nbsp;&nbsp;&nbsp; 304846 |
| &nbsp;&nbsp;&nbsp;Waste Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4899 | &nbsp;&nbsp;&nbsp;&nbsp; 1122655 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2881912 |
| **Healthcare-Products — 1.6%** | **Healthcare-Products — 1.6%** | **Healthcare-Products — 1.6%** |
| &nbsp;&nbsp;&nbsp;Boston Scientific Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;37452 | &nbsp;&nbsp;&nbsp;&nbsp; 3929464 |
| &nbsp;&nbsp;&nbsp;Insulet Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1764 | &nbsp;&nbsp;&nbsp;&nbsp; 508738 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9075 | &nbsp;&nbsp;&nbsp;&nbsp; 4365892 |
| &nbsp;&nbsp;&nbsp;ResMed, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3692 | &nbsp;&nbsp;&nbsp;&nbsp; 1004002 |
| &nbsp;&nbsp;&nbsp;Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4640 | &nbsp;&nbsp;&nbsp;&nbsp; 1822267 |
| &nbsp;&nbsp;&nbsp;Waters Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;717 | &nbsp;&nbsp;&nbsp;&nbsp; 207041 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11837404 |
| **Healthcare-Services — 0.1%** | **Healthcare-Services — 0.1%** | **Healthcare-Services — 0.1%** |
| &nbsp;&nbsp;&nbsp;DaVita, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002 | &nbsp;&nbsp;&nbsp;&nbsp; 140651 |
| &nbsp;&nbsp;&nbsp;HCA Healthcare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2601 | &nbsp;&nbsp;&nbsp;&nbsp; 920728 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1061379 |
| **Home Builders — 0.1%** | **Home Builders — 0.1%** | **Home Builders — 0.1%** |
| &nbsp;&nbsp;&nbsp;NVR, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;&nbsp;&nbsp; 332178 |
| &nbsp;&nbsp;&nbsp;PulteGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5110 | &nbsp;&nbsp;&nbsp;&nbsp; 577021 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909199 |
| **Insurance — 2.8%** | **Insurance — 2.8%** | **Insurance — 2.8%** |
| &nbsp;&nbsp;&nbsp;Aon PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2777 | &nbsp;&nbsp;&nbsp;&nbsp; 987807 |
| &nbsp;&nbsp;&nbsp;Arch Capital Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9605 | &nbsp;&nbsp;&nbsp;&nbsp; 826606 |
| &nbsp;&nbsp;&nbsp;Arthur J. Gallagher & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2934 | &nbsp;&nbsp;&nbsp;&nbsp; 842792 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc., Class B† | &nbsp;&nbsp;&nbsp;&nbsp;22751 | &nbsp;&nbsp;&nbsp;&nbsp; 10735742 |
| &nbsp;&nbsp;&nbsp;Brown & Brown, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7143 | &nbsp;&nbsp;&nbsp;&nbsp; 652656 |
| &nbsp;&nbsp;&nbsp;Cincinnati Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2027 | &nbsp;&nbsp;&nbsp;&nbsp; 299003 |
| &nbsp;&nbsp;&nbsp;Erie Indemnity Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp;&nbsp;&nbsp; 233337 |
| &nbsp;&nbsp;&nbsp;Hartford Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3982 | &nbsp;&nbsp;&nbsp;&nbsp; 495321 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5467 | &nbsp;&nbsp;&nbsp;&nbsp; 1089026 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;14831 | &nbsp;&nbsp;&nbsp;&nbsp; 3589695 |
| &nbsp;&nbsp;&nbsp;W.R. Berkley Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4015 | &nbsp;&nbsp;&nbsp;&nbsp; 276272 |
| &nbsp;&nbsp;&nbsp;Willis Towers Watson PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1186 | &nbsp;&nbsp;&nbsp;&nbsp; 374551 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;20402808 |
| **Internet — 21.2%** | **Internet — 21.2%** | **Internet — 21.2%** |
| &nbsp;&nbsp;&nbsp;Airbnb, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;10987 | &nbsp;&nbsp;&nbsp;&nbsp; 1454789 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;147366 | &nbsp;&nbsp;&nbsp;&nbsp; 28279535 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;118874 | &nbsp;&nbsp;&nbsp;&nbsp; 22926040 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;138761 | &nbsp;&nbsp;&nbsp;&nbsp; 32485338 |
| &nbsp;&nbsp;&nbsp;Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824 | &nbsp;&nbsp;&nbsp;&nbsp; 4535345 |
| &nbsp;&nbsp;&nbsp;DoorDash, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8633 | &nbsp;&nbsp;&nbsp;&nbsp; 2160408 |
| &nbsp;&nbsp;&nbsp;eBay, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7803 | &nbsp;&nbsp;&nbsp;&nbsp; 715925 |
| &nbsp;&nbsp;&nbsp;Expedia Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3112 | &nbsp;&nbsp;&nbsp;&nbsp; 560845 |
| &nbsp;&nbsp;&nbsp;F5, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697 | &nbsp;&nbsp;&nbsp;&nbsp; 218454 |
| &nbsp;&nbsp;&nbsp;Gen Digital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8261 | &nbsp;&nbsp;&nbsp;&nbsp; 243617 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| &nbsp;&nbsp;&nbsp;GoDaddy, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3575 | &nbsp;&nbsp;$577649 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;54975 | &nbsp;&nbsp;&nbsp;&nbsp; 42519864 |
| &nbsp;&nbsp;&nbsp;Netflix, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10776 | &nbsp;&nbsp;&nbsp;&nbsp; 12493694 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;16740 | &nbsp;&nbsp;&nbsp;&nbsp; 2906064 |
| &nbsp;&nbsp;&nbsp;Uber Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;52950 | &nbsp;&nbsp;&nbsp;&nbsp; 4646362 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;156723929 |
| **Leisure Time — 0.4%** | **Leisure Time — 0.4%** | **Leisure Time — 0.4%** |
| &nbsp;&nbsp;&nbsp;Carnival Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;26727 | &nbsp;&nbsp;&nbsp;&nbsp; 795663 |
| &nbsp;&nbsp;&nbsp;Norwegian Cruise Line Holdings, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;11548 | &nbsp;&nbsp;&nbsp;&nbsp; 295167 |
| &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6294 | &nbsp;&nbsp;&nbsp;&nbsp; 2000673 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3091503 |
| **Lodging — 0.5%** | **Lodging — 0.5%** | **Lodging — 0.5%** |
| &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6046 | &nbsp;&nbsp;&nbsp;&nbsp; 1620812 |
| &nbsp;&nbsp;&nbsp;Las Vegas Sands Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8524 | &nbsp;&nbsp;&nbsp;&nbsp; 446658 |
| &nbsp;&nbsp;&nbsp;Marriott International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5787 | &nbsp;&nbsp;&nbsp;&nbsp; 1526784 |
| &nbsp;&nbsp;&nbsp;Wynn Resorts, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2148 | &nbsp;&nbsp;&nbsp;&nbsp; 234196 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3828450 |
| **Machinery-Construction & Mining — 1.3%** | **Machinery-Construction & Mining — 1.3%** | **Machinery-Construction & Mining — 1.3%** |
| &nbsp;&nbsp;&nbsp;Caterpillar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11909 | &nbsp;&nbsp;&nbsp;&nbsp; 5216380 |
| &nbsp;&nbsp;&nbsp;GE Vernova, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6911 | &nbsp;&nbsp;&nbsp;&nbsp; 4563264 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9779644 |
| **Machinery-Diversified — 0.5%** | **Machinery-Diversified — 0.5%** | **Machinery-Diversified — 0.5%** |
| &nbsp;&nbsp;&nbsp;Deere & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2827 | &nbsp;&nbsp;&nbsp;&nbsp; 1482394 |
| &nbsp;&nbsp;&nbsp;Dover Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1502 | &nbsp;&nbsp;&nbsp;&nbsp; 272072 |
| &nbsp;&nbsp;&nbsp;Ingersoll Rand, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10318 | &nbsp;&nbsp;&nbsp;&nbsp; 873213 |
| &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4382 | &nbsp;&nbsp;&nbsp;&nbsp; 841563 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3469242 |
| **Media — 0.0%** | **Media — 0.0%** | **Media — 0.0%** |
| &nbsp;&nbsp;&nbsp;FactSet Research Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449 | &nbsp;&nbsp;&nbsp;&nbsp; 180902 |
| **Miscellaneous Manufacturing — 0.6%** | **Miscellaneous Manufacturing — 0.6%** | **Miscellaneous Manufacturing — 0.6%** |
| &nbsp;&nbsp;&nbsp;Axon Enterprise, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1872 | &nbsp;&nbsp;&nbsp;&nbsp; 1414277 |
| &nbsp;&nbsp;&nbsp;Illinois Tool Works, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2788 | &nbsp;&nbsp;&nbsp;&nbsp; 713644 |
| &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3223 | &nbsp;&nbsp;&nbsp;&nbsp; 2358914 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4486835 |
| **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp;Zebra Technologies Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607 | &nbsp;&nbsp;&nbsp;&nbsp; 205785 |
| **Oil & Gas — 0.1%** | **Oil & Gas — 0.1%** | **Oil & Gas — 0.1%** |
| &nbsp;&nbsp;&nbsp;Texas Pacific Land Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472 | &nbsp;&nbsp;&nbsp;&nbsp; 456957 |
| **Packaging & Containers — 0.0%** | **Packaging & Containers — 0.0%** | **Packaging & Containers — 0.0%** |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1171 | &nbsp;&nbsp;&nbsp;&nbsp; 226881 |
| **Pharmaceuticals — 2.5%** | **Pharmaceuticals — 2.5%** | **Pharmaceuticals — 2.5%** |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18769 | &nbsp;&nbsp;&nbsp;&nbsp; 3547717 |
| &nbsp;&nbsp;&nbsp;Dexcom, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4165 | &nbsp;&nbsp;&nbsp;&nbsp; 336407 |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;19918 | &nbsp;&nbsp;&nbsp;&nbsp; 14740714 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;18624838 |
| **Pipelines — 0.4%** | **Pipelines — 0.4%** | **Pipelines — 0.4%** |
| &nbsp;&nbsp;&nbsp;ONEOK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8855 | &nbsp;&nbsp;&nbsp;&nbsp; 727084 |
| &nbsp;&nbsp;&nbsp;Targa Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5468 | &nbsp;&nbsp;&nbsp;&nbsp; 909930 |
| &nbsp;&nbsp;&nbsp;Williams Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15922 | &nbsp;&nbsp;&nbsp;&nbsp; 954524 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2591538 |
| **Private Equity — 0.1%** | **Private Equity — 0.1%** | **Private Equity — 0.1%** |
| &nbsp;&nbsp;&nbsp;KKR & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7491 | &nbsp;&nbsp;&nbsp;&nbsp; 1098031 |
| **Real Estate — 0.2%** | **Real Estate — 0.2%** | **Real Estate — 0.2%** |
| &nbsp;&nbsp;&nbsp;CBRE Group, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7452 | &nbsp;&nbsp;&nbsp;&nbsp; 1160574 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Large Cap Growth Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **REITS — 0.9%** | **REITS — 0.9%** | **REITS — 0.9%** |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1532 | &nbsp;&nbsp;$285381 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1429 | &nbsp;&nbsp;&nbsp;&nbsp; 156047 |
| &nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170 | &nbsp;&nbsp;&nbsp;&nbsp; 918649 |
| &nbsp;&nbsp;&nbsp;Essex Property Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810 | &nbsp;&nbsp;&nbsp;&nbsp; 210746 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2360 | &nbsp;&nbsp;&nbsp;&nbsp; 317089 |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11567 | &nbsp;&nbsp;&nbsp;&nbsp; 181833 |
| &nbsp;&nbsp;&nbsp;Iron Mountain, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7491 | &nbsp;&nbsp;&nbsp;&nbsp; 729324 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartment Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1259 | &nbsp;&nbsp;&nbsp;&nbsp; 179319 |
| &nbsp;&nbsp;&nbsp;Public Storage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3987 | &nbsp;&nbsp;&nbsp;&nbsp; 1084225 |
| &nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7785 | &nbsp;&nbsp;&nbsp;&nbsp; 1275105 |
| &nbsp;&nbsp;&nbsp;UDR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3558 | &nbsp;&nbsp;&nbsp;&nbsp; 139794 |
| &nbsp;&nbsp;&nbsp;Welltower, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8504 | &nbsp;&nbsp;&nbsp;&nbsp; 1403755 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6881267 |
| **Retail — 4.2%** | **Retail — 4.2%** | **Retail — 4.2%** |
| &nbsp;&nbsp;&nbsp;AutoZone, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426 | &nbsp;&nbsp;&nbsp;&nbsp; 1605330 |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;34298 | &nbsp;&nbsp;&nbsp;&nbsp; 1470698 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11234 | &nbsp;&nbsp;&nbsp;&nbsp; 10555916 |
| &nbsp;&nbsp;&nbsp;Darden Restaurants, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1214 | &nbsp;&nbsp;&nbsp;&nbsp; 244827 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381 | &nbsp;&nbsp;&nbsp;&nbsp; 176483 |
| &nbsp;&nbsp;&nbsp;Home Depot, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11073 | &nbsp;&nbsp;&nbsp;&nbsp; 4069438 |
| &nbsp;&nbsp;&nbsp;Lululemon Athletica, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1261 | &nbsp;&nbsp;&nbsp;&nbsp; 252868 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;21537 | &nbsp;&nbsp;&nbsp;&nbsp; 2117518 |
| &nbsp;&nbsp;&nbsp;TJX Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16593 | &nbsp;&nbsp;&nbsp;&nbsp; 2066326 |
| &nbsp;&nbsp;&nbsp;Tractor Supply Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7203 | &nbsp;&nbsp;&nbsp;&nbsp; 410211 |
| &nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;73296 | &nbsp;&nbsp;&nbsp;&nbsp; 7181542 |
| &nbsp;&nbsp;&nbsp;Williams-Sonoma, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3110 | &nbsp;&nbsp;&nbsp;&nbsp; 581726 |
| &nbsp;&nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2853 | &nbsp;&nbsp;&nbsp;&nbsp; 411260 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;31144143 |
| **Semiconductors — 20.4%** | **Semiconductors — 20.4%** | **Semiconductors — 20.4%** |
| &nbsp;&nbsp;&nbsp;Applied Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8686 | &nbsp;&nbsp;&nbsp;&nbsp; 1564001 |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;119056 | &nbsp;&nbsp;&nbsp;&nbsp; 34966747 |
| &nbsp;&nbsp;&nbsp;KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3341 | &nbsp;&nbsp;&nbsp;&nbsp; 2936839 |
| &nbsp;&nbsp;&nbsp;Monolithic Power Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1226 | &nbsp;&nbsp;&nbsp;&nbsp; 871981 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;617509 | &nbsp;&nbsp;&nbsp;&nbsp;109836326 |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2570 | &nbsp;&nbsp;&nbsp;&nbsp; 549389 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;150725283 |
| **Software — 13.9%** | **Software — 13.9%** | **Software — 13.9%** |
| &nbsp;&nbsp;&nbsp;Adobe, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4557 | &nbsp;&nbsp;&nbsp;&nbsp; 1629993 |
| &nbsp;&nbsp;&nbsp;Autodesk, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5446 | &nbsp;&nbsp;&nbsp;&nbsp; 1650737 |
| &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1352 | &nbsp;&nbsp;&nbsp;&nbsp; 334634 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3821 | &nbsp;&nbsp;&nbsp;&nbsp; 1393022 |
| &nbsp;&nbsp;&nbsp;Datadog, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8108 | &nbsp;&nbsp;&nbsp;&nbsp; 1134958 |
| &nbsp;&nbsp;&nbsp;Dayforce, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4176 | &nbsp;&nbsp;&nbsp;&nbsp; 240830 |
| &nbsp;&nbsp;&nbsp;Electronic Arts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2350 | &nbsp;&nbsp;&nbsp;&nbsp; 358352 |
| &nbsp;&nbsp;&nbsp;Fair Isaac Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614 | &nbsp;&nbsp;&nbsp;&nbsp; 882146 |
| &nbsp;&nbsp;&nbsp;Fiserv, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13958 | &nbsp;&nbsp;&nbsp;&nbsp; 1939325 |
| &nbsp;&nbsp;&nbsp;Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7079 | &nbsp;&nbsp;&nbsp;&nbsp; 5557935 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Software (continued)** | **Software (continued)** |  |
| &nbsp;&nbsp;&nbsp;Jack Henry & Associates, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;766 | &nbsp;&nbsp;$130078 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;97862 | &nbsp;&nbsp;&nbsp;&nbsp; 52209377 |
| &nbsp;&nbsp;&nbsp;MSCI, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1960 | &nbsp;&nbsp;&nbsp;&nbsp; 1100266 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;41183 | &nbsp;&nbsp;&nbsp;&nbsp; 10451010 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;53860 | &nbsp;&nbsp;&nbsp;&nbsp; 8528731 |
| &nbsp;&nbsp;&nbsp;Paychex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3804 | &nbsp;&nbsp;&nbsp;&nbsp; 549031 |
| &nbsp;&nbsp;&nbsp;Paycom Software, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1237 | &nbsp;&nbsp;&nbsp;&nbsp; 286415 |
| &nbsp;&nbsp;&nbsp;PTC, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1378 | &nbsp;&nbsp;&nbsp;&nbsp; 296008 |
| &nbsp;&nbsp;&nbsp;Salesforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24295 | &nbsp;&nbsp;&nbsp;&nbsp; 6276127 |
| &nbsp;&nbsp;&nbsp;ServiceNow, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5241 | &nbsp;&nbsp;&nbsp;&nbsp; 4942892 |
| &nbsp;&nbsp;&nbsp;Synopsys, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2411 | &nbsp;&nbsp;&nbsp;&nbsp; 1527296 |
| &nbsp;&nbsp;&nbsp;Tyler Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1084 | &nbsp;&nbsp;&nbsp;&nbsp; 633663 |
| &nbsp;&nbsp;&nbsp;Workday, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2550 | &nbsp;&nbsp;&nbsp;&nbsp; 584919 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;102637745 |
| **Telecommunications — 0.9%** | **Telecommunications — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;Arista Networks, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;26030 | &nbsp;&nbsp;&nbsp;&nbsp; 3207417 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4249 | &nbsp;&nbsp;&nbsp;&nbsp; 1865226 |
| &nbsp;&nbsp;&nbsp;T-Mobile US, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6434 | &nbsp;&nbsp;&nbsp;&nbsp; 1533930 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6606573 |
| **Transportation — 0.2%** | **Transportation — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;CSX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;21950 | &nbsp;&nbsp;&nbsp;&nbsp; 780103 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2138 | &nbsp;&nbsp;&nbsp;&nbsp; 319096 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1099199 |
| **Total Common Stocks<br> (cost $501,414,020)** |  | &nbsp;&nbsp;&nbsp;&nbsp;735949019 |
| **UNAFFILIATED INVESTMENT COMPANIES — 0.0%** | **UNAFFILIATED INVESTMENT COMPANIES — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;SPDR Portfolio S&P 500 Growth ETF<br> (cost $812) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp; 986 |
| **Total Long-Term Investment Securities<br> (cost $501,414,832)** |  | &nbsp;&nbsp;&nbsp;&nbsp;735950005 |
| **SHORT-TERM INVESTMENTS — 0.5%** | **SHORT-TERM INVESTMENTS — 0.5%** |  |
| **Unaffiliated Investment Companies — 0.5%** | **Unaffiliated Investment Companies — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(1)<br> (cost $4,043,193) | 4043193 | &nbsp;&nbsp;&nbsp;&nbsp; 4043193 |
| **TOTAL INVESTMENTS<br> (cost $505,458,025)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;&nbsp;&nbsp;739993198 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.0) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(156294) |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$739836904 |

---

† Non-income producing security

(1) The rate shown is the 7-day yield as of July 31, 2025.

(2) See Note 4 for cost of investments on a tax basis.

ETF—Exchange Traded Fund

#### Futures Contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number<br> of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Expiration<br> Month** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Basis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Value\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation** |
| 16 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;E-Mini Russell 1000 Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$3564509 | &nbsp;&nbsp;&nbsp;&nbsp;$3569679 | &nbsp;&nbsp;&nbsp;&nbsp;$5170 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Large Cap Growth Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

#### Futures Contracts — (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Numberof<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**ExpirationMonth** | &nbsp;&nbsp;&nbsp;&nbsp;**NotionalBasis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**NotionalValue\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
| 2 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;S&P 500 E-Mini Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$642439 | &nbsp;&nbsp;&nbsp;&nbsp;$637425 | &nbsp;&nbsp;&nbsp;&nbsp;$(5014) |
|  |  | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) |  | &nbsp;&nbsp;&nbsp;&nbsp;$156 |

---

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

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$735949019 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$735949019 |
| Unaffiliated Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;986 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;986 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4043193 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4043193 |
| **Total Investments at Value** | &nbsp;&nbsp;$739993198 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$739993198 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;$5170 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$5170 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;$5014 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$5014 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | &nbsp;&nbsp;Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Large Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.7%** | **COMMON STOCKS — 99.7%** | **COMMON STOCKS — 99.7%** |
| **Advertising — 0.1%** | **Advertising — 0.1%** | **Advertising — 0.1%** |
| &nbsp;&nbsp;&nbsp;Interpublic Group of Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24032 | &nbsp;&nbsp;$591187 |
| &nbsp;&nbsp;&nbsp;Omnicom Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12677 | &nbsp;&nbsp;&nbsp;&nbsp; 913378 |
| &nbsp;&nbsp;&nbsp;Trade Desk, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;28636 | &nbsp;&nbsp;&nbsp;&nbsp; 2490187 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3994752 |
| **Aerospace/Defense — 2.1%** | **Aerospace/Defense — 2.1%** | **Aerospace/Defense — 2.1%** |
| &nbsp;&nbsp;&nbsp;Boeing Co.† | &nbsp;&nbsp;&nbsp;&nbsp;47484 | &nbsp;&nbsp;&nbsp;&nbsp; 10533851 |
| &nbsp;&nbsp;&nbsp;General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16024 | &nbsp;&nbsp;&nbsp;&nbsp; 4993239 |
| &nbsp;&nbsp;&nbsp;General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;67232 | &nbsp;&nbsp;&nbsp;&nbsp; 18225250 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25586 | &nbsp;&nbsp;&nbsp;&nbsp; 4599595 |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11763 | &nbsp;&nbsp;&nbsp;&nbsp; 3232708 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13054 | &nbsp;&nbsp;&nbsp;&nbsp; 5495473 |
| &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8579 | &nbsp;&nbsp;&nbsp;&nbsp; 4946737 |
| &nbsp;&nbsp;&nbsp;RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;84228 | &nbsp;&nbsp;&nbsp;&nbsp; 13271806 |
| &nbsp;&nbsp;&nbsp;TransDigm Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3554 | &nbsp;&nbsp;&nbsp;&nbsp; 5716467 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71015126 |
| **Agriculture — 0.7%** | **Agriculture — 0.7%** | **Agriculture — 0.7%** |
| &nbsp;&nbsp;&nbsp;Altria Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;105963 | &nbsp;&nbsp;&nbsp;&nbsp; 6563348 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | &nbsp;&nbsp;&nbsp;&nbsp;30871 | &nbsp;&nbsp;&nbsp;&nbsp; 1672591 |
| &nbsp;&nbsp;&nbsp;Bunge Global SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8611 | &nbsp;&nbsp;&nbsp;&nbsp; 686813 |
| &nbsp;&nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;98134 | &nbsp;&nbsp;&nbsp;&nbsp; 16098883 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25021635 |
| **Airlines — 0.2%** | **Airlines — 0.2%** | **Airlines — 0.2%** |
| &nbsp;&nbsp;&nbsp;Delta Air Lines, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;41393 | &nbsp;&nbsp;&nbsp;&nbsp; 2202522 |
| &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | &nbsp;&nbsp;&nbsp;&nbsp;35164 | &nbsp;&nbsp;&nbsp;&nbsp; 1087622 |
| &nbsp;&nbsp;&nbsp;United Airlines Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;20091 | &nbsp;&nbsp;&nbsp;&nbsp; 1774236 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5064380 |
| **Apparel — 0.3%** | **Apparel — 0.3%** | **Apparel — 0.3%** |
| &nbsp;&nbsp;&nbsp;Deckers Outdoor Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9791 | &nbsp;&nbsp;&nbsp;&nbsp; 1039510 |
| &nbsp;&nbsp;&nbsp;NIKE, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;74785 | &nbsp;&nbsp;&nbsp;&nbsp; 5585692 |
| &nbsp;&nbsp;&nbsp;Ralph Lauren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2574 | &nbsp;&nbsp;&nbsp;&nbsp; 768982 |
| &nbsp;&nbsp;&nbsp;Tapestry, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13355 | &nbsp;&nbsp;&nbsp;&nbsp; 1442741 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8836925 |
| **Auto Manufacturers — 2.0%** | **Auto Manufacturers — 2.0%** | **Auto Manufacturers — 2.0%** |
| &nbsp;&nbsp;&nbsp;Cummins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8590 | &nbsp;&nbsp;&nbsp;&nbsp; 3157856 |
| &nbsp;&nbsp;&nbsp;Ford Motor Co. | &nbsp;&nbsp;&nbsp;&nbsp;242053 | &nbsp;&nbsp;&nbsp;&nbsp; 2679527 |
| &nbsp;&nbsp;&nbsp;General Motors Co. | &nbsp;&nbsp;&nbsp;&nbsp;59779 | &nbsp;&nbsp;&nbsp;&nbsp; 3188612 |
| &nbsp;&nbsp;&nbsp;PACCAR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32824 | &nbsp;&nbsp;&nbsp;&nbsp; 3241698 |
| &nbsp;&nbsp;&nbsp;Tesla, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;176672 | &nbsp;&nbsp;&nbsp;&nbsp; 54462677 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66730370 |
| **Auto Parts & Equipment — 0.0%** | **Auto Parts & Equipment — 0.0%** | **Auto Parts & Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp;Aptiv PLC† | &nbsp;&nbsp;&nbsp;&nbsp;13353 | &nbsp;&nbsp;&nbsp;&nbsp; 916550 |
| **Banks — 4.5%** | **Banks — 4.5%** | **Banks — 4.5%** |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;413130 | &nbsp;&nbsp;&nbsp;&nbsp; 19528655 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;45192 | &nbsp;&nbsp;&nbsp;&nbsp; 4584728 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;117658 | &nbsp;&nbsp;&nbsp;&nbsp; 11024555 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28200 | &nbsp;&nbsp;&nbsp;&nbsp; 1345704 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;40823 | &nbsp;&nbsp;&nbsp;&nbsp; 1697012 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19345 | &nbsp;&nbsp;&nbsp;&nbsp; 13997848 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;93783 | &nbsp;&nbsp;&nbsp;&nbsp; 1540855 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;175213 | &nbsp;&nbsp;&nbsp;&nbsp; 51905099 |
| &nbsp;&nbsp;&nbsp;KeyCorp | &nbsp;&nbsp;&nbsp;&nbsp;64260 | &nbsp;&nbsp;&nbsp;&nbsp; 1151539 |
| &nbsp;&nbsp;&nbsp;M&T Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10155 | &nbsp;&nbsp;&nbsp;&nbsp; 1916248 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;77617 | &nbsp;&nbsp;&nbsp;&nbsp; 11057318 |
| &nbsp;&nbsp;&nbsp;Northern Trust Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11849 | &nbsp;&nbsp;&nbsp;&nbsp; 1540370 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24984 | &nbsp;&nbsp;&nbsp;&nbsp; 4753706 |
| &nbsp;&nbsp;&nbsp;Regions Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;54745 | &nbsp;&nbsp;&nbsp;&nbsp; 1386691 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17656 | &nbsp;&nbsp;&nbsp;&nbsp; 1973058 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;Truist Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;82549 | &nbsp;&nbsp;$3608217 |
| &nbsp;&nbsp;&nbsp;US Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;98424 | &nbsp;&nbsp;&nbsp;&nbsp; 4425143 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;205166 | &nbsp;&nbsp;&nbsp;&nbsp; 16542535 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153979281 |
| **Beverages — 1.1%** | **Beverages — 1.1%** | **Beverages — 1.1%** |
| &nbsp;&nbsp;&nbsp;Brown-Forman Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;11750 | &nbsp;&nbsp;&nbsp;&nbsp; 338988 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | &nbsp;&nbsp;&nbsp;&nbsp;244219 | &nbsp;&nbsp;&nbsp;&nbsp; 16580028 |
| &nbsp;&nbsp;&nbsp;Constellation Brands, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9406 | &nbsp;&nbsp;&nbsp;&nbsp; 1571178 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;84571 | &nbsp;&nbsp;&nbsp;&nbsp; 2761243 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage Co., Class B | &nbsp;&nbsp;&nbsp;&nbsp;11107 | &nbsp;&nbsp;&nbsp;&nbsp; 541133 |
| &nbsp;&nbsp;&nbsp;Monster Beverage Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;45171 | &nbsp;&nbsp;&nbsp;&nbsp; 2653796 |
| &nbsp;&nbsp;&nbsp;PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;86331 | &nbsp;&nbsp;&nbsp;&nbsp; 11906772 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36353138 |
| **Biotechnology — 1.0%** | **Biotechnology — 1.0%** | **Biotechnology — 1.0%** |
| &nbsp;&nbsp;&nbsp;Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33901 | &nbsp;&nbsp;&nbsp;&nbsp; 10004185 |
| &nbsp;&nbsp;&nbsp;Biogen, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9443 | &nbsp;&nbsp;&nbsp;&nbsp; 1208704 |
| &nbsp;&nbsp;&nbsp;Corteva, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42841 | &nbsp;&nbsp;&nbsp;&nbsp; 3090121 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;78426 | &nbsp;&nbsp;&nbsp;&nbsp; 8806456 |
| &nbsp;&nbsp;&nbsp;Incyte Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;10363 | &nbsp;&nbsp;&nbsp;&nbsp; 776085 |
| &nbsp;&nbsp;&nbsp;Moderna, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;21846 | &nbsp;&nbsp;&nbsp;&nbsp; 645768 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6595 | &nbsp;&nbsp;&nbsp;&nbsp; 3597309 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;16129 | &nbsp;&nbsp;&nbsp;&nbsp; 7368856 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35497484 |
| **Building Materials — 0.6%** | **Building Materials — 0.6%** | **Building Materials — 0.6%** |
| &nbsp;&nbsp;&nbsp;Builders FirstSource, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6560 | &nbsp;&nbsp;&nbsp;&nbsp; 833973 |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | &nbsp;&nbsp;&nbsp;&nbsp;50728 | &nbsp;&nbsp;&nbsp;&nbsp; 3480955 |
| &nbsp;&nbsp;&nbsp;Johnson Controls International PLC | &nbsp;&nbsp;&nbsp;&nbsp;41632 | &nbsp;&nbsp;&nbsp;&nbsp; 4371360 |
| &nbsp;&nbsp;&nbsp;Lennox International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2066 | &nbsp;&nbsp;&nbsp;&nbsp; 1258194 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3763 | &nbsp;&nbsp;&nbsp;&nbsp; 2163274 |
| &nbsp;&nbsp;&nbsp;Masco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13675 | &nbsp;&nbsp;&nbsp;&nbsp; 931678 |
| &nbsp;&nbsp;&nbsp;Mohawk Industries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3380 | &nbsp;&nbsp;&nbsp;&nbsp; 387044 |
| &nbsp;&nbsp;&nbsp;Trane Technologies PLC | &nbsp;&nbsp;&nbsp;&nbsp;14017 | &nbsp;&nbsp;&nbsp;&nbsp; 6140567 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8145 | &nbsp;&nbsp;&nbsp;&nbsp; 2237187 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21804232 |
| **Chemicals — 1.1%** | **Chemicals — 1.1%** | **Chemicals — 1.1%** |
| &nbsp;&nbsp;&nbsp;Air Products & Chemicals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14009 | &nbsp;&nbsp;&nbsp;&nbsp; 4032911 |
| &nbsp;&nbsp;&nbsp;Albemarle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7585 | &nbsp;&nbsp;&nbsp;&nbsp; 514642 |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10252 | &nbsp;&nbsp;&nbsp;&nbsp; 951693 |
| &nbsp;&nbsp;&nbsp;Dow, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;45405 | &nbsp;&nbsp;&nbsp;&nbsp; 1057482 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25605 | &nbsp;&nbsp;&nbsp;&nbsp; 1841000 |
| &nbsp;&nbsp;&nbsp;Eastman Chemical Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7430 | &nbsp;&nbsp;&nbsp;&nbsp; 539492 |
| &nbsp;&nbsp;&nbsp;Ecolab, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15891 | &nbsp;&nbsp;&nbsp;&nbsp; 4159628 |
| &nbsp;&nbsp;&nbsp;International Flavors & Fragrances, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16494 | &nbsp;&nbsp;&nbsp;&nbsp; 1171569 |
| &nbsp;&nbsp;&nbsp;Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;29669 | &nbsp;&nbsp;&nbsp;&nbsp; 13655454 |
| &nbsp;&nbsp;&nbsp;LyondellBasell Industries NV, Class A | &nbsp;&nbsp;&nbsp;&nbsp;16722 | &nbsp;&nbsp;&nbsp;&nbsp; 968705 |
| &nbsp;&nbsp;&nbsp;Mosaic Co. | &nbsp;&nbsp;&nbsp;&nbsp;20491 | &nbsp;&nbsp;&nbsp;&nbsp; 737881 |
| &nbsp;&nbsp;&nbsp;PPG Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14050 | &nbsp;&nbsp;&nbsp;&nbsp; 1482275 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | &nbsp;&nbsp;&nbsp;&nbsp;14653 | &nbsp;&nbsp;&nbsp;&nbsp; 4848385 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35961117 |
| **Commercial Services — 1.5%** | **Commercial Services — 1.5%** | **Commercial Services — 1.5%** |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25592 | &nbsp;&nbsp;&nbsp;&nbsp; 7920724 |
| &nbsp;&nbsp;&nbsp;Block, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;35498 | &nbsp;&nbsp;&nbsp;&nbsp; 2742575 |
| &nbsp;&nbsp;&nbsp;Cintas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;21663 | &nbsp;&nbsp;&nbsp;&nbsp; 4821101 |
| &nbsp;&nbsp;&nbsp;Corpay, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4498 | &nbsp;&nbsp;&nbsp;&nbsp; 1453079 |
| &nbsp;&nbsp;&nbsp;Equifax, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp; 1921840 |
| &nbsp;&nbsp;&nbsp;Global Payments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14760 | &nbsp;&nbsp;&nbsp;&nbsp; 1180062 |
| &nbsp;&nbsp;&nbsp;MarketAxess Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2433 | &nbsp;&nbsp;&nbsp;&nbsp; 499981 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9781 | &nbsp;&nbsp;&nbsp;&nbsp; 5044355 |
| &nbsp;&nbsp;&nbsp;PayPal Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;61130 | &nbsp;&nbsp;&nbsp;&nbsp; 4203299 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Large Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| &nbsp;&nbsp;&nbsp;Quanta Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9272 | &nbsp;&nbsp;$3765637 |
| &nbsp;&nbsp;&nbsp;Rollins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18118 | &nbsp;&nbsp;&nbsp;&nbsp; 1037618 |
| &nbsp;&nbsp;&nbsp;S&P Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19741 | &nbsp;&nbsp;&nbsp;&nbsp; 10879265 |
| &nbsp;&nbsp;&nbsp;United Rentals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4084 | &nbsp;&nbsp;&nbsp;&nbsp; 3605927 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8787 | &nbsp;&nbsp;&nbsp;&nbsp; 2449025 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51524488 |
| **Computers — 7.4%** | **Computers — 7.4%** | **Computers — 7.4%** |
| &nbsp;&nbsp;&nbsp;Accenture PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;39322 | &nbsp;&nbsp;&nbsp;&nbsp; 10502906 |
| &nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;941659 | &nbsp;&nbsp;&nbsp;&nbsp; 195460159 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;30579 | &nbsp;&nbsp;&nbsp;&nbsp; 2194349 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;15678 | &nbsp;&nbsp;&nbsp;&nbsp; 7126749 |
| &nbsp;&nbsp;&nbsp;Dell Technologies, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;18440 | &nbsp;&nbsp;&nbsp;&nbsp; 2446804 |
| &nbsp;&nbsp;&nbsp;EPAM Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3660 | &nbsp;&nbsp;&nbsp;&nbsp; 577219 |
| &nbsp;&nbsp;&nbsp;Fortinet, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;40065 | &nbsp;&nbsp;&nbsp;&nbsp; 4002494 |
| &nbsp;&nbsp;&nbsp;Gartner, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4956 | &nbsp;&nbsp;&nbsp;&nbsp; 1678349 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. | &nbsp;&nbsp;&nbsp;&nbsp;84728 | &nbsp;&nbsp;&nbsp;&nbsp; 1753022 |
| &nbsp;&nbsp;&nbsp;HP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;60498 | &nbsp;&nbsp;&nbsp;&nbsp; 1500350 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp;58596 | &nbsp;&nbsp;&nbsp;&nbsp; 14833577 |
| &nbsp;&nbsp;&nbsp;Leidos Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7823 | &nbsp;&nbsp;&nbsp;&nbsp; 1248942 |
| &nbsp;&nbsp;&nbsp;NetApp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13116 | &nbsp;&nbsp;&nbsp;&nbsp; 1365769 |
| &nbsp;&nbsp;&nbsp;Seagate Technology Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;12989 | &nbsp;&nbsp;&nbsp;&nbsp; 2039403 |
| &nbsp;&nbsp;&nbsp;Super Micro Computer, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;32488 | &nbsp;&nbsp;&nbsp;&nbsp; 1915817 |
| &nbsp;&nbsp;&nbsp;Western Digital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22438 | &nbsp;&nbsp;&nbsp;&nbsp; 1765646 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250411555 |
| **Cosmetics/Personal Care — 0.9%** | **Cosmetics/Personal Care — 0.9%** | **Cosmetics/Personal Care — 0.9%** |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | &nbsp;&nbsp;&nbsp;&nbsp;51202 | &nbsp;&nbsp;&nbsp;&nbsp; 4293288 |
| &nbsp;&nbsp;&nbsp;Estee Lauder Cos., Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;15107 | &nbsp;&nbsp;&nbsp;&nbsp; 1410087 |
| &nbsp;&nbsp;&nbsp;Kenvue, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;119148 | &nbsp;&nbsp;&nbsp;&nbsp; 2554533 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | &nbsp;&nbsp;&nbsp;&nbsp;147816 | &nbsp;&nbsp;&nbsp;&nbsp; 22241874 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30499782 |
| **Distribution/Wholesale — 0.3%** | **Distribution/Wholesale — 0.3%** | **Distribution/Wholesale — 0.3%** |
| &nbsp;&nbsp;&nbsp;Copart, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;56563 | &nbsp;&nbsp;&nbsp;&nbsp; 2564001 |
| &nbsp;&nbsp;&nbsp;Fastenal Co. | &nbsp;&nbsp;&nbsp;&nbsp;71855 | &nbsp;&nbsp;&nbsp;&nbsp; 3314671 |
| &nbsp;&nbsp;&nbsp;LKQ Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16770 | &nbsp;&nbsp;&nbsp;&nbsp; 494212 |
| &nbsp;&nbsp;&nbsp;Pool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2456 | &nbsp;&nbsp;&nbsp;&nbsp; 756792 |
| &nbsp;&nbsp;&nbsp;WW Grainger, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2768 | &nbsp;&nbsp;&nbsp;&nbsp; 2877446 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10007122 |
| **Diversified Financial Services — 4.2%** | **Diversified Financial Services — 4.2%** | **Diversified Financial Services — 4.2%** |
| &nbsp;&nbsp;&nbsp;American Express Co. | &nbsp;&nbsp;&nbsp;&nbsp;34806 | &nbsp;&nbsp;&nbsp;&nbsp; 10417784 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6012 | &nbsp;&nbsp;&nbsp;&nbsp; 3115358 |
| &nbsp;&nbsp;&nbsp;Apollo Global Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28163 | &nbsp;&nbsp;&nbsp;&nbsp; 4092647 |
| &nbsp;&nbsp;&nbsp;Blackrock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9182 | &nbsp;&nbsp;&nbsp;&nbsp; 10155384 |
| &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;40141 | &nbsp;&nbsp;&nbsp;&nbsp; 8630315 |
| &nbsp;&nbsp;&nbsp;Cboe Global Markets, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6754 | &nbsp;&nbsp;&nbsp;&nbsp; 1627984 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;107681 | &nbsp;&nbsp;&nbsp;&nbsp; 10523664 |
| &nbsp;&nbsp;&nbsp;CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22881 | &nbsp;&nbsp;&nbsp;&nbsp; 6367324 |
| &nbsp;&nbsp;&nbsp;Coinbase Global, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;13284 | &nbsp;&nbsp;&nbsp;&nbsp; 5018164 |
| &nbsp;&nbsp;&nbsp;Franklin Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19998 | &nbsp;&nbsp;&nbsp;&nbsp; 479952 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35961 | &nbsp;&nbsp;&nbsp;&nbsp; 6646671 |
| &nbsp;&nbsp;&nbsp;Invesco, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;28901 | &nbsp;&nbsp;&nbsp;&nbsp; 607210 |
| &nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;51140 | &nbsp;&nbsp;&nbsp;&nbsp; 28969276 |
| &nbsp;&nbsp;&nbsp;Nasdaq, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25549 | &nbsp;&nbsp;&nbsp;&nbsp; 2458325 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11229 | &nbsp;&nbsp;&nbsp;&nbsp; 1876703 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp;23570 | &nbsp;&nbsp;&nbsp;&nbsp; 1642122 |
| &nbsp;&nbsp;&nbsp;T. Rowe Price Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13404 | &nbsp;&nbsp;&nbsp;&nbsp; 1359836 |
| &nbsp;&nbsp;&nbsp;Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;107872 | &nbsp;&nbsp;&nbsp;&nbsp; 37266540 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141255259 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Electric — 2.3%** | **Electric — 2.3%** | **Electric — 2.3%** |
| &nbsp;&nbsp;&nbsp;AES Corp. | &nbsp;&nbsp;&nbsp;&nbsp;45869 | &nbsp;&nbsp;$603177 |
| &nbsp;&nbsp;&nbsp;Alliant Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16554 | &nbsp;&nbsp;&nbsp;&nbsp; 1076176 |
| &nbsp;&nbsp;&nbsp;Ameren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17412 | &nbsp;&nbsp;&nbsp;&nbsp; 1760876 |
| &nbsp;&nbsp;&nbsp;American Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33461 | &nbsp;&nbsp;&nbsp;&nbsp; 3785778 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42044 | &nbsp;&nbsp;&nbsp;&nbsp; 1632148 |
| &nbsp;&nbsp;&nbsp;CMS Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;19276 | &nbsp;&nbsp;&nbsp;&nbsp; 1422569 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22133 | &nbsp;&nbsp;&nbsp;&nbsp; 2290765 |
| &nbsp;&nbsp;&nbsp;Constellation Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;19860 | &nbsp;&nbsp;&nbsp;&nbsp; 6908102 |
| &nbsp;&nbsp;&nbsp;Dominion Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;54190 | &nbsp;&nbsp;&nbsp;&nbsp; 3167405 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp;13369 | &nbsp;&nbsp;&nbsp;&nbsp; 1850403 |
| &nbsp;&nbsp;&nbsp;Duke Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;49214 | &nbsp;&nbsp;&nbsp;&nbsp; 5986391 |
| &nbsp;&nbsp;&nbsp;Edison International | &nbsp;&nbsp;&nbsp;&nbsp;24976 | &nbsp;&nbsp;&nbsp;&nbsp; 1301749 |
| &nbsp;&nbsp;&nbsp;Entergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;27663 | &nbsp;&nbsp;&nbsp;&nbsp; 2501565 |
| &nbsp;&nbsp;&nbsp;Evergy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14836 | &nbsp;&nbsp;&nbsp;&nbsp; 1050389 |
| &nbsp;&nbsp;&nbsp;Eversource Energy | &nbsp;&nbsp;&nbsp;&nbsp;23662 | &nbsp;&nbsp;&nbsp;&nbsp; 1564058 |
| &nbsp;&nbsp;&nbsp;Exelon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;64848 | &nbsp;&nbsp;&nbsp;&nbsp; 2914269 |
| &nbsp;&nbsp;&nbsp;FirstEnergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;33089 | &nbsp;&nbsp;&nbsp;&nbsp; 1413231 |
| &nbsp;&nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;129790 | &nbsp;&nbsp;&nbsp;&nbsp; 9222877 |
| &nbsp;&nbsp;&nbsp;NRG Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12428 | &nbsp;&nbsp;&nbsp;&nbsp; 2077962 |
| &nbsp;&nbsp;&nbsp;PG&E Corp. | &nbsp;&nbsp;&nbsp;&nbsp;134143 | &nbsp;&nbsp;&nbsp;&nbsp; 1880685 |
| &nbsp;&nbsp;&nbsp;Pinnacle West Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7335 | &nbsp;&nbsp;&nbsp;&nbsp; 664698 |
| &nbsp;&nbsp;&nbsp;PPL Corp. | &nbsp;&nbsp;&nbsp;&nbsp;44839 | &nbsp;&nbsp;&nbsp;&nbsp; 1600304 |
| &nbsp;&nbsp;&nbsp;Public Service Enterprise Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30967 | &nbsp;&nbsp;&nbsp;&nbsp; 2780527 |
| &nbsp;&nbsp;&nbsp;Sempra | &nbsp;&nbsp;&nbsp;&nbsp;40861 | &nbsp;&nbsp;&nbsp;&nbsp; 3337526 |
| &nbsp;&nbsp;&nbsp;Southern Co. | &nbsp;&nbsp;&nbsp;&nbsp;69577 | &nbsp;&nbsp;&nbsp;&nbsp; 6573635 |
| &nbsp;&nbsp;&nbsp;Vistra Corp. | &nbsp;&nbsp;&nbsp;&nbsp;21409 | &nbsp;&nbsp;&nbsp;&nbsp; 4464633 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20494 | &nbsp;&nbsp;&nbsp;&nbsp; 2235486 |
| &nbsp;&nbsp;&nbsp;Xcel Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;37045 | &nbsp;&nbsp;&nbsp;&nbsp; 2720585 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78787969 |
| **Electrical Components & Equipment — 0.5%** | **Electrical Components & Equipment — 0.5%** | **Electrical Components & Equipment — 0.5%** |
| &nbsp;&nbsp;&nbsp;AMETEK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14354 | &nbsp;&nbsp;&nbsp;&nbsp; 2653337 |
| &nbsp;&nbsp;&nbsp;Eaton Corp. PLC | &nbsp;&nbsp;&nbsp;&nbsp;24647 | &nbsp;&nbsp;&nbsp;&nbsp; 9482194 |
| &nbsp;&nbsp;&nbsp;Emerson Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;35622 | &nbsp;&nbsp;&nbsp;&nbsp; 5183357 |
| &nbsp;&nbsp;&nbsp;Generac Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3846 | &nbsp;&nbsp;&nbsp;&nbsp; 748778 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18067666 |
| **Electronics — 1.0%** | **Electronics — 1.0%** | **Electronics — 1.0%** |
| &nbsp;&nbsp;&nbsp;Allegion PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5609 | &nbsp;&nbsp;&nbsp;&nbsp; 930645 |
| &nbsp;&nbsp;&nbsp;Amphenol Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;76089 | &nbsp;&nbsp;&nbsp;&nbsp; 8104239 |
| &nbsp;&nbsp;&nbsp;Fortive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22011 | &nbsp;&nbsp;&nbsp;&nbsp; 1054987 |
| &nbsp;&nbsp;&nbsp;Garmin, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9470 | &nbsp;&nbsp;&nbsp;&nbsp; 2071657 |
| &nbsp;&nbsp;&nbsp;Honeywell International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40653 | &nbsp;&nbsp;&nbsp;&nbsp; 9039195 |
| &nbsp;&nbsp;&nbsp;Hubbell, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3463 | &nbsp;&nbsp;&nbsp;&nbsp; 1514993 |
| &nbsp;&nbsp;&nbsp;Jabil, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6605 | &nbsp;&nbsp;&nbsp;&nbsp; 1474038 |
| &nbsp;&nbsp;&nbsp;Keysight Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10537 | &nbsp;&nbsp;&nbsp;&nbsp; 1727120 |
| &nbsp;&nbsp;&nbsp;Mettler-Toledo International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1268 | &nbsp;&nbsp;&nbsp;&nbsp; 1564306 |
| &nbsp;&nbsp;&nbsp;TE Connectivity PLC | &nbsp;&nbsp;&nbsp;&nbsp;18649 | &nbsp;&nbsp;&nbsp;&nbsp; 3837032 |
| &nbsp;&nbsp;&nbsp;Trimble, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14485 | &nbsp;&nbsp;&nbsp;&nbsp; 1215147 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32533359 |
| **Energy-Alternate Sources — 0.0%** | **Energy-Alternate Sources — 0.0%** | **Energy-Alternate Sources — 0.0%** |
| &nbsp;&nbsp;&nbsp;Enphase Energy, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8546 | &nbsp;&nbsp;&nbsp;&nbsp; 276549 |
| &nbsp;&nbsp;&nbsp;First Solar, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6907 | &nbsp;&nbsp;&nbsp;&nbsp; 1206860 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1483409 |
| **Engineering & Construction — 0.0%** | **Engineering & Construction — 0.0%** | **Engineering & Construction — 0.0%** |
| &nbsp;&nbsp;&nbsp;Jacobs Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7174 | &nbsp;&nbsp;&nbsp;&nbsp; 1017775 |
| **Entertainment — 0.1%** | **Entertainment — 0.1%** | **Entertainment — 0.1%** |
| &nbsp;&nbsp;&nbsp;Caesars Entertainment, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13708 | &nbsp;&nbsp;&nbsp;&nbsp; 365730 |
| &nbsp;&nbsp;&nbsp;Live Nation Entertainment, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10116 | &nbsp;&nbsp;&nbsp;&nbsp; 1494133 |
| &nbsp;&nbsp;&nbsp;TKO Group Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4296 | &nbsp;&nbsp;&nbsp;&nbsp; 721771 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2581634 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Large Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Environmental Control — 0.3%** | **Environmental Control — 0.3%** | **Environmental Control — 0.3%** |
| &nbsp;&nbsp;&nbsp;Pentair PLC | &nbsp;&nbsp;&nbsp;&nbsp;10660 | &nbsp;&nbsp;$1089452 |
| &nbsp;&nbsp;&nbsp;Republic Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12678 | &nbsp;&nbsp;&nbsp;&nbsp; 2924181 |
| &nbsp;&nbsp;&nbsp;Veralto Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15955 | &nbsp;&nbsp;&nbsp;&nbsp; 1672562 |
| &nbsp;&nbsp;&nbsp;Waste Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23113 | &nbsp;&nbsp;&nbsp;&nbsp; 5296575 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10982770 |
| **Food — 0.6%** | **Food — 0.6%** | **Food — 0.6%** |
| &nbsp;&nbsp;&nbsp;The Campbell's Company | &nbsp;&nbsp;&nbsp;&nbsp;12692 | &nbsp;&nbsp;&nbsp;&nbsp; 405129 |
| &nbsp;&nbsp;&nbsp;Conagra Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30792 | &nbsp;&nbsp;&nbsp;&nbsp; 562262 |
| &nbsp;&nbsp;&nbsp;General Mills, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33616 | &nbsp;&nbsp;&nbsp;&nbsp; 1646512 |
| &nbsp;&nbsp;&nbsp;Hershey Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9531 | &nbsp;&nbsp;&nbsp;&nbsp; 1774005 |
| &nbsp;&nbsp;&nbsp;Hormel Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp;18772 | &nbsp;&nbsp;&nbsp;&nbsp; 527305 |
| &nbsp;&nbsp;&nbsp;J.M. Smucker Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6865 | &nbsp;&nbsp;&nbsp;&nbsp; 736889 |
| &nbsp;&nbsp;&nbsp;Kellanova | &nbsp;&nbsp;&nbsp;&nbsp;17345 | &nbsp;&nbsp;&nbsp;&nbsp; 1384651 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Co. | &nbsp;&nbsp;&nbsp;&nbsp;52728 | &nbsp;&nbsp;&nbsp;&nbsp; 1447911 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | &nbsp;&nbsp;&nbsp;&nbsp;39331 | &nbsp;&nbsp;&nbsp;&nbsp; 2757103 |
| &nbsp;&nbsp;&nbsp;Lamb Weston Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9202 | &nbsp;&nbsp;&nbsp;&nbsp; 525158 |
| &nbsp;&nbsp;&nbsp;McCormick & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16290 | &nbsp;&nbsp;&nbsp;&nbsp; 1150563 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;82003 | &nbsp;&nbsp;&nbsp;&nbsp; 5304774 |
| &nbsp;&nbsp;&nbsp;Sysco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;30231 | &nbsp;&nbsp;&nbsp;&nbsp; 2406388 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;18463 | &nbsp;&nbsp;&nbsp;&nbsp; 965615 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21594265 |
| **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** |
| &nbsp;&nbsp;&nbsp;International Paper Co. | &nbsp;&nbsp;&nbsp;&nbsp;34014 | &nbsp;&nbsp;&nbsp;&nbsp; 1589814 |
| **Gas — 0.1%** | **Gas — 0.1%** | **Gas — 0.1%** |
| &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10240 | &nbsp;&nbsp;&nbsp;&nbsp; 1596621 |
| &nbsp;&nbsp;&nbsp;NiSource, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30317 | &nbsp;&nbsp;&nbsp;&nbsp; 1286956 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2883577 |
| **Hand/Machine Tools — 0.1%** | **Hand/Machine Tools — 0.1%** | **Hand/Machine Tools — 0.1%** |
| &nbsp;&nbsp;&nbsp;Snap-on, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3380 | &nbsp;&nbsp;&nbsp;&nbsp; 1085622 |
| &nbsp;&nbsp;&nbsp;Stanley Black & Decker, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9946 | &nbsp;&nbsp;&nbsp;&nbsp; 672847 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1758469 |
| **Healthcare-Products — 2.7%** | **Healthcare-Products — 2.7%** | **Healthcare-Products — 2.7%** |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;109531 | &nbsp;&nbsp;&nbsp;&nbsp; 13821717 |
| &nbsp;&nbsp;&nbsp;Agilent Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17556 | &nbsp;&nbsp;&nbsp;&nbsp; 2015604 |
| &nbsp;&nbsp;&nbsp;Align Technology, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4001 | &nbsp;&nbsp;&nbsp;&nbsp; 516169 |
| &nbsp;&nbsp;&nbsp;Baxter International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32938 | &nbsp;&nbsp;&nbsp;&nbsp; 716731 |
| &nbsp;&nbsp;&nbsp;Bio-Techne Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10199 | &nbsp;&nbsp;&nbsp;&nbsp; 558191 |
| &nbsp;&nbsp;&nbsp;Boston Scientific Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;93163 | &nbsp;&nbsp;&nbsp;&nbsp; 9774662 |
| &nbsp;&nbsp;&nbsp;Cooper Cos., Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12876 | &nbsp;&nbsp;&nbsp;&nbsp; 910204 |
| &nbsp;&nbsp;&nbsp;Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp;40264 | &nbsp;&nbsp;&nbsp;&nbsp; 7938450 |
| &nbsp;&nbsp;&nbsp;Edwards Lifesciences Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;36710 | &nbsp;&nbsp;&nbsp;&nbsp; 2911470 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28171 | &nbsp;&nbsp;&nbsp;&nbsp; 2009156 |
| &nbsp;&nbsp;&nbsp;Hologic, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14475 | &nbsp;&nbsp;&nbsp;&nbsp; 967220 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5095 | &nbsp;&nbsp;&nbsp;&nbsp; 2722309 |
| &nbsp;&nbsp;&nbsp;Insulet Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4525 | &nbsp;&nbsp;&nbsp;&nbsp; 1305010 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;22597 | &nbsp;&nbsp;&nbsp;&nbsp; 10871191 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp;80474 | &nbsp;&nbsp;&nbsp;&nbsp; 7261974 |
| &nbsp;&nbsp;&nbsp;ResMed, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9100 | &nbsp;&nbsp;&nbsp;&nbsp; 2474654 |
| &nbsp;&nbsp;&nbsp;Revvity, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6809 | &nbsp;&nbsp;&nbsp;&nbsp; 598511 |
| &nbsp;&nbsp;&nbsp;Solventum Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8916 | &nbsp;&nbsp;&nbsp;&nbsp; 636246 |
| &nbsp;&nbsp;&nbsp;STERIS PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6339 | &nbsp;&nbsp;&nbsp;&nbsp; 1435720 |
| &nbsp;&nbsp;&nbsp;Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;21640 | &nbsp;&nbsp;&nbsp;&nbsp; 8498677 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23738 | &nbsp;&nbsp;&nbsp;&nbsp; 11101788 |
| &nbsp;&nbsp;&nbsp;Waters Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3831 | &nbsp;&nbsp;&nbsp;&nbsp; 1106240 |
| &nbsp;&nbsp;&nbsp;West Pharmaceutical Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4673 | &nbsp;&nbsp;&nbsp;&nbsp; 1118062 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12843 | &nbsp;&nbsp;&nbsp;&nbsp; 1177061 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92447017 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Healthcare-Services — 1.1%** | **Healthcare-Services — 1.1%** | **Healthcare-Services — 1.1%** |
| &nbsp;&nbsp;&nbsp;Centene Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;31991 | &nbsp;&nbsp;$834005 |
| &nbsp;&nbsp;&nbsp;Charles River Laboratories International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3299 | &nbsp;&nbsp;&nbsp;&nbsp; 559642 |
| &nbsp;&nbsp;&nbsp;Cigna Group | &nbsp;&nbsp;&nbsp;&nbsp;16804 | &nbsp;&nbsp;&nbsp;&nbsp; 4493054 |
| &nbsp;&nbsp;&nbsp;DaVita, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2840 | &nbsp;&nbsp;&nbsp;&nbsp; 398651 |
| &nbsp;&nbsp;&nbsp;Elevance Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14143 | &nbsp;&nbsp;&nbsp;&nbsp; 4003600 |
| &nbsp;&nbsp;&nbsp;HCA Healthcare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11016 | &nbsp;&nbsp;&nbsp;&nbsp; 3899554 |
| &nbsp;&nbsp;&nbsp;Humana, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7783 | &nbsp;&nbsp;&nbsp;&nbsp; 1944738 |
| &nbsp;&nbsp;&nbsp;IQVIA Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10172 | &nbsp;&nbsp;&nbsp;&nbsp; 1890568 |
| &nbsp;&nbsp;&nbsp;Labcorp Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5381 | &nbsp;&nbsp;&nbsp;&nbsp; 1399490 |
| &nbsp;&nbsp;&nbsp;Molina Healthcare, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3242 | &nbsp;&nbsp;&nbsp;&nbsp; 511815 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7161 | &nbsp;&nbsp;&nbsp;&nbsp; 1198823 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;57192 | &nbsp;&nbsp;&nbsp;&nbsp; 14272836 |
| &nbsp;&nbsp;&nbsp;Universal Health Services, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3788 | &nbsp;&nbsp;&nbsp;&nbsp; 630513 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36037289 |
| **Home Builders — 0.2%** | **Home Builders — 0.2%** | **Home Builders — 0.2%** |
| &nbsp;&nbsp;&nbsp;D.R. Horton, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17505 | &nbsp;&nbsp;&nbsp;&nbsp; 2500414 |
| &nbsp;&nbsp;&nbsp;Lennar Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;14165 | &nbsp;&nbsp;&nbsp;&nbsp; 1589030 |
| &nbsp;&nbsp;&nbsp;NVR, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184 | &nbsp;&nbsp;&nbsp;&nbsp; 1389106 |
| &nbsp;&nbsp;&nbsp;PulteGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12218 | &nbsp;&nbsp;&nbsp;&nbsp; 1379657 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6858207 |
| **Household Products/Wares — 0.2%** | **Household Products/Wares — 0.2%** | **Household Products/Wares — 0.2%** |
| &nbsp;&nbsp;&nbsp;Avery Dennison Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4610 | &nbsp;&nbsp;&nbsp;&nbsp; 773420 |
| &nbsp;&nbsp;&nbsp;Church & Dwight Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15868 | &nbsp;&nbsp;&nbsp;&nbsp; 1487942 |
| &nbsp;&nbsp;&nbsp;Clorox Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7948 | &nbsp;&nbsp;&nbsp;&nbsp; 997951 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;20599 | &nbsp;&nbsp;&nbsp;&nbsp; 2567047 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5826360 |
| **Insurance — 3.5%** | **Insurance — 3.5%** | **Insurance — 3.5%** |
| &nbsp;&nbsp;&nbsp;Aflac, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30977 | &nbsp;&nbsp;&nbsp;&nbsp; 3077875 |
| &nbsp;&nbsp;&nbsp;Allstate Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16578 | &nbsp;&nbsp;&nbsp;&nbsp; 3369478 |
| &nbsp;&nbsp;&nbsp;American International Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;38277 | &nbsp;&nbsp;&nbsp;&nbsp; 2971444 |
| &nbsp;&nbsp;&nbsp;Aon PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;13669 | &nbsp;&nbsp;&nbsp;&nbsp; 4862200 |
| &nbsp;&nbsp;&nbsp;Arch Capital Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;23076 | &nbsp;&nbsp;&nbsp;&nbsp; 1985921 |
| &nbsp;&nbsp;&nbsp;Arthur J. Gallagher & Co. | &nbsp;&nbsp;&nbsp;&nbsp;16078 | &nbsp;&nbsp;&nbsp;&nbsp; 4618405 |
| &nbsp;&nbsp;&nbsp;Assurant, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3309 | &nbsp;&nbsp;&nbsp;&nbsp; 619776 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc., Class B† | &nbsp;&nbsp;&nbsp;&nbsp;115611 | &nbsp;&nbsp;&nbsp;&nbsp; 54554519 |
| &nbsp;&nbsp;&nbsp;Brown & Brown, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18031 | &nbsp;&nbsp;&nbsp;&nbsp; 1647492 |
| &nbsp;&nbsp;&nbsp;Chubb, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;23328 | &nbsp;&nbsp;&nbsp;&nbsp; 6206181 |
| &nbsp;&nbsp;&nbsp;Cincinnati Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10090 | &nbsp;&nbsp;&nbsp;&nbsp; 1488376 |
| &nbsp;&nbsp;&nbsp;Erie Indemnity Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1610 | &nbsp;&nbsp;&nbsp;&nbsp; 573546 |
| &nbsp;&nbsp;&nbsp;Everest Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2773 | &nbsp;&nbsp;&nbsp;&nbsp; 931173 |
| &nbsp;&nbsp;&nbsp;Globe Life, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5416 | &nbsp;&nbsp;&nbsp;&nbsp; 760786 |
| &nbsp;&nbsp;&nbsp;Hartford Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17775 | &nbsp;&nbsp;&nbsp;&nbsp; 2211032 |
| &nbsp;&nbsp;&nbsp;Loews Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11398 | &nbsp;&nbsp;&nbsp;&nbsp; 1031975 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31262 | &nbsp;&nbsp;&nbsp;&nbsp; 6227390 |
| &nbsp;&nbsp;&nbsp;MetLife, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36088 | &nbsp;&nbsp;&nbsp;&nbsp; 2740884 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12307 | &nbsp;&nbsp;&nbsp;&nbsp; 957854 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36960 | &nbsp;&nbsp;&nbsp;&nbsp; 8945798 |
| &nbsp;&nbsp;&nbsp;Prudential Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21857 | &nbsp;&nbsp;&nbsp;&nbsp; 2263948 |
| &nbsp;&nbsp;&nbsp;Travelers Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14244 | &nbsp;&nbsp;&nbsp;&nbsp; 3706859 |
| &nbsp;&nbsp;&nbsp;W.R. Berkley Corp. | &nbsp;&nbsp;&nbsp;&nbsp;19370 | &nbsp;&nbsp;&nbsp;&nbsp; 1332850 |
| &nbsp;&nbsp;&nbsp;Willis Towers Watson PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6108 | &nbsp;&nbsp;&nbsp;&nbsp; 1928967 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119014729 |
| **Internet — 13.4%** | **Internet — 13.4%** | **Internet — 13.4%** |
| &nbsp;&nbsp;&nbsp;Airbnb, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;27193 | &nbsp;&nbsp;&nbsp;&nbsp; 3600625 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;366933 | &nbsp;&nbsp;&nbsp;&nbsp; 70414443 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;295989 | &nbsp;&nbsp;&nbsp;&nbsp; 57084438 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;595703 | &nbsp;&nbsp;&nbsp;&nbsp; 139460029 |
| &nbsp;&nbsp;&nbsp;Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2051 | &nbsp;&nbsp;&nbsp;&nbsp; 11288827 |
| &nbsp;&nbsp;&nbsp;CDW Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8031 | &nbsp;&nbsp;&nbsp;&nbsp; 1400446 |
| &nbsp;&nbsp;&nbsp;DoorDash, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;21467 | &nbsp;&nbsp;&nbsp;&nbsp; 5372117 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Large Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| &nbsp;&nbsp;&nbsp;eBay, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28361 | &nbsp;&nbsp;$2602122 |
| &nbsp;&nbsp;&nbsp;Expedia Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7418 | &nbsp;&nbsp;&nbsp;&nbsp; 1336872 |
| &nbsp;&nbsp;&nbsp;F5, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3719 | &nbsp;&nbsp;&nbsp;&nbsp; 1165609 |
| &nbsp;&nbsp;&nbsp;Gen Digital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34987 | &nbsp;&nbsp;&nbsp;&nbsp; 1031767 |
| &nbsp;&nbsp;&nbsp;GoDaddy, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9111 | &nbsp;&nbsp;&nbsp;&nbsp; 1472155 |
| &nbsp;&nbsp;&nbsp;Match Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16199 | &nbsp;&nbsp;&nbsp;&nbsp; 555140 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;136884 | &nbsp;&nbsp;&nbsp;&nbsp; 105871561 |
| &nbsp;&nbsp;&nbsp;Netflix, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;26831 | &nbsp;&nbsp;&nbsp;&nbsp; 31107861 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;41712 | &nbsp;&nbsp;&nbsp;&nbsp; 7241203 |
| &nbsp;&nbsp;&nbsp;Uber Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;131359 | &nbsp;&nbsp;&nbsp;&nbsp; 11526752 |
| &nbsp;&nbsp;&nbsp;VeriSign, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4893 | &nbsp;&nbsp;&nbsp;&nbsp; 1315581 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453847548 |
| **Iron/Steel — 0.1%** | **Iron/Steel — 0.1%** | **Iron/Steel — 0.1%** |
| &nbsp;&nbsp;&nbsp;Nucor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;14349 | &nbsp;&nbsp;&nbsp;&nbsp; 2052911 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8348 | &nbsp;&nbsp;&nbsp;&nbsp; 1064871 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3117782 |
| **Leisure Time — 0.2%** | **Leisure Time — 0.2%** | **Leisure Time — 0.2%** |
| &nbsp;&nbsp;&nbsp;Carnival Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;67594 | &nbsp;&nbsp;&nbsp;&nbsp; 2012273 |
| &nbsp;&nbsp;&nbsp;Norwegian Cruise Line Holdings, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;28366 | &nbsp;&nbsp;&nbsp;&nbsp; 725035 |
| &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;15679 | &nbsp;&nbsp;&nbsp;&nbsp; 4983884 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7721192 |
| **Lodging — 0.3%** | **Lodging — 0.3%** | **Lodging — 0.3%** |
| &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15121 | &nbsp;&nbsp;&nbsp;&nbsp; 4053638 |
| &nbsp;&nbsp;&nbsp;Las Vegas Sands Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22169 | &nbsp;&nbsp;&nbsp;&nbsp; 1161656 |
| &nbsp;&nbsp;&nbsp;Marriott International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;14393 | &nbsp;&nbsp;&nbsp;&nbsp; 3797305 |
| &nbsp;&nbsp;&nbsp;MGM Resorts International† | &nbsp;&nbsp;&nbsp;&nbsp;11362 | &nbsp;&nbsp;&nbsp;&nbsp; 414145 |
| &nbsp;&nbsp;&nbsp;Wynn Resorts, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5779 | &nbsp;&nbsp;&nbsp;&nbsp; 630084 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10056828 |
| **Machinery-Construction & Mining — 0.7%** | **Machinery-Construction & Mining — 0.7%** | **Machinery-Construction & Mining — 0.7%** |
| &nbsp;&nbsp;&nbsp;Caterpillar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29652 | &nbsp;&nbsp;&nbsp;&nbsp; 12988169 |
| &nbsp;&nbsp;&nbsp;GE Vernova, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17208 | &nbsp;&nbsp;&nbsp;&nbsp; 11362270 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24350439 |
| **Machinery-Diversified — 0.7%** | **Machinery-Diversified — 0.7%** | **Machinery-Diversified — 0.7%** |
| &nbsp;&nbsp;&nbsp;Deere & Co. | &nbsp;&nbsp;&nbsp;&nbsp;15914 | &nbsp;&nbsp;&nbsp;&nbsp; 8344824 |
| &nbsp;&nbsp;&nbsp;Dover Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8853 | &nbsp;&nbsp;&nbsp;&nbsp; 1603632 |
| &nbsp;&nbsp;&nbsp;IDEX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4885 | &nbsp;&nbsp;&nbsp;&nbsp; 798746 |
| &nbsp;&nbsp;&nbsp;Ingersoll Rand, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24815 | &nbsp;&nbsp;&nbsp;&nbsp; 2100093 |
| &nbsp;&nbsp;&nbsp;Nordson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3499 | &nbsp;&nbsp;&nbsp;&nbsp; 749521 |
| &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;24569 | &nbsp;&nbsp;&nbsp;&nbsp; 2105318 |
| &nbsp;&nbsp;&nbsp;Rockwell Automation, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7008 | &nbsp;&nbsp;&nbsp;&nbsp; 2464784 |
| &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10513 | &nbsp;&nbsp;&nbsp;&nbsp; 2019022 |
| &nbsp;&nbsp;&nbsp;Xylem, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14895 | &nbsp;&nbsp;&nbsp;&nbsp; 2154115 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22340055 |
| **Media — 0.8%** | **Media — 0.8%** | **Media — 0.8%** |
| &nbsp;&nbsp;&nbsp;Charter Communications, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5980 | &nbsp;&nbsp;&nbsp;&nbsp; 1610773 |
| &nbsp;&nbsp;&nbsp;Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;234766 | &nbsp;&nbsp;&nbsp;&nbsp; 7801274 |
| &nbsp;&nbsp;&nbsp;FactSet Research Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2455 | &nbsp;&nbsp;&nbsp;&nbsp; 989120 |
| &nbsp;&nbsp;&nbsp;Fox Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;14054 | &nbsp;&nbsp;&nbsp;&nbsp; 783651 |
| &nbsp;&nbsp;&nbsp;Fox Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8511 | &nbsp;&nbsp;&nbsp;&nbsp; 435253 |
| &nbsp;&nbsp;&nbsp;News Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;24389 | &nbsp;&nbsp;&nbsp;&nbsp; 715085 |
| &nbsp;&nbsp;&nbsp;News Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7208 | &nbsp;&nbsp;&nbsp;&nbsp; 240891 |
| &nbsp;&nbsp;&nbsp;Paramount Global, Class B | &nbsp;&nbsp;&nbsp;&nbsp;38380 | &nbsp;&nbsp;&nbsp;&nbsp; 482437 |
| &nbsp;&nbsp;&nbsp;Walt Disney Co. | &nbsp;&nbsp;&nbsp;&nbsp;113267 | &nbsp;&nbsp;&nbsp;&nbsp; 13491232 |
| &nbsp;&nbsp;&nbsp;Warner Bros. Discovery, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;144013 | &nbsp;&nbsp;&nbsp;&nbsp; 1896651 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28446367 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mining — 0.2%** | **Mining — 0.2%** | **Mining — 0.2%** |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;90477 | &nbsp;&nbsp;$3640795 |
| &nbsp;&nbsp;&nbsp;Newmont Corp. | &nbsp;&nbsp;&nbsp;&nbsp;69801 | &nbsp;&nbsp;&nbsp;&nbsp; 4334642 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7975437 |
| **Miscellaneous Manufacturing — 0.6%** | **Miscellaneous Manufacturing — 0.6%** | **Miscellaneous Manufacturing — 0.6%** |
| &nbsp;&nbsp;&nbsp;3M Co. | &nbsp;&nbsp;&nbsp;&nbsp;33677 | &nbsp;&nbsp;&nbsp;&nbsp; 5025282 |
| &nbsp;&nbsp;&nbsp;A.O. Smith Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7618 | &nbsp;&nbsp;&nbsp;&nbsp; 539278 |
| &nbsp;&nbsp;&nbsp;Axon Enterprise, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4674 | &nbsp;&nbsp;&nbsp;&nbsp; 3531160 |
| &nbsp;&nbsp;&nbsp;Illinois Tool Works, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16835 | &nbsp;&nbsp;&nbsp;&nbsp; 4309255 |
| &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8022 | &nbsp;&nbsp;&nbsp;&nbsp; 5871302 |
| &nbsp;&nbsp;&nbsp;Teledyne Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3007 | &nbsp;&nbsp;&nbsp;&nbsp; 1656917 |
| &nbsp;&nbsp;&nbsp;Textron, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11778 | &nbsp;&nbsp;&nbsp;&nbsp; 915975 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21849169 |
| **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp;Zebra Technologies Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3315 | &nbsp;&nbsp;&nbsp;&nbsp; 1123851 |
| **Oil & Gas — 2.4%** | **Oil & Gas — 2.4%** | **Oil & Gas — 2.4%** |
| &nbsp;&nbsp;&nbsp;APA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23865 | &nbsp;&nbsp;&nbsp;&nbsp; 460356 |
| &nbsp;&nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;120911 | &nbsp;&nbsp;&nbsp;&nbsp; 18334944 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;80073 | &nbsp;&nbsp;&nbsp;&nbsp; 7634160 |
| &nbsp;&nbsp;&nbsp;Coterra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47510 | &nbsp;&nbsp;&nbsp;&nbsp; 1158769 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;39603 | &nbsp;&nbsp;&nbsp;&nbsp; 1315612 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12055 | &nbsp;&nbsp;&nbsp;&nbsp; 1792096 |
| &nbsp;&nbsp;&nbsp;EOG Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34561 | &nbsp;&nbsp;&nbsp;&nbsp; 4148011 |
| &nbsp;&nbsp;&nbsp;EQT Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36603 | &nbsp;&nbsp;&nbsp;&nbsp; 1967411 |
| &nbsp;&nbsp;&nbsp;Expand Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13567 | &nbsp;&nbsp;&nbsp;&nbsp; 1421550 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;271732 | &nbsp;&nbsp;&nbsp;&nbsp; 30336160 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;19129 | &nbsp;&nbsp;&nbsp;&nbsp; 3255565 |
| &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;43584 | &nbsp;&nbsp;&nbsp;&nbsp; 1915081 |
| &nbsp;&nbsp;&nbsp;Phillips 66 | &nbsp;&nbsp;&nbsp;&nbsp;25844 | &nbsp;&nbsp;&nbsp;&nbsp; 3193802 |
| &nbsp;&nbsp;&nbsp;Texas Pacific Land Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1216 | &nbsp;&nbsp;&nbsp;&nbsp; 1177246 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;19674 | &nbsp;&nbsp;&nbsp;&nbsp; 2701437 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80812200 |
| **Oil & Gas Services — 0.2%** | **Oil & Gas Services — 0.2%** | **Oil & Gas Services — 0.2%** |
| &nbsp;&nbsp;&nbsp;Baker Hughes Co. | &nbsp;&nbsp;&nbsp;&nbsp;61641 | &nbsp;&nbsp;&nbsp;&nbsp; 2776927 |
| &nbsp;&nbsp;&nbsp;Halliburton Co. | &nbsp;&nbsp;&nbsp;&nbsp;56001 | &nbsp;&nbsp;&nbsp;&nbsp; 1254423 |
| &nbsp;&nbsp;&nbsp;Schlumberger NV | &nbsp;&nbsp;&nbsp;&nbsp;93424 | &nbsp;&nbsp;&nbsp;&nbsp; 3157731 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7189081 |
| **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** |
| &nbsp;&nbsp;&nbsp;Amcor PLC | &nbsp;&nbsp;&nbsp;&nbsp;147365 | &nbsp;&nbsp;&nbsp;&nbsp; 1377863 |
| &nbsp;&nbsp;&nbsp;Ball Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17460 | &nbsp;&nbsp;&nbsp;&nbsp; 999759 |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5753 | &nbsp;&nbsp;&nbsp;&nbsp; 1114644 |
| &nbsp;&nbsp;&nbsp;Smurfit WestRock PLC | &nbsp;&nbsp;&nbsp;&nbsp;31897 | &nbsp;&nbsp;&nbsp;&nbsp; 1415589 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4907855 |
| **Pharmaceuticals — 4.0%** | **Pharmaceuticals — 4.0%** | **Pharmaceuticals — 4.0%** |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;111366 | &nbsp;&nbsp;&nbsp;&nbsp; 21050401 |
| &nbsp;&nbsp;&nbsp;Becton Dickinson & Co. | &nbsp;&nbsp;&nbsp;&nbsp;17960 | &nbsp;&nbsp;&nbsp;&nbsp; 3201370 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp;128786 | &nbsp;&nbsp;&nbsp;&nbsp; 5577722 |
| &nbsp;&nbsp;&nbsp;Cardinal Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14982 | &nbsp;&nbsp;&nbsp;&nbsp; 2325506 |
| &nbsp;&nbsp;&nbsp;Cencora, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10782 | &nbsp;&nbsp;&nbsp;&nbsp; 3084515 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;79663 | &nbsp;&nbsp;&nbsp;&nbsp; 4947072 |
| &nbsp;&nbsp;&nbsp;Dexcom, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;25204 | &nbsp;&nbsp;&nbsp;&nbsp; 2035727 |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;49594 | &nbsp;&nbsp;&nbsp;&nbsp; 36703032 |
| &nbsp;&nbsp;&nbsp;Henry Schein, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8045 | &nbsp;&nbsp;&nbsp;&nbsp; 544244 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;151696 | &nbsp;&nbsp;&nbsp;&nbsp; 24990399 |
| &nbsp;&nbsp;&nbsp;McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7947 | &nbsp;&nbsp;&nbsp;&nbsp; 5511562 |
| &nbsp;&nbsp;&nbsp;Merck & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;158118 | &nbsp;&nbsp;&nbsp;&nbsp; 12352178 |
| &nbsp;&nbsp;&nbsp;Pfizer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;357313 | &nbsp;&nbsp;&nbsp;&nbsp; 8321820 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Large Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| &nbsp;&nbsp;&nbsp;Viatris, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;77000 | &nbsp;&nbsp;$672980 |
| &nbsp;&nbsp;&nbsp;Zoetis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28242 | &nbsp;&nbsp;&nbsp;&nbsp; 4117401 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135435929 |
| **Pipelines — 0.4%** | **Pipelines — 0.4%** | **Pipelines — 0.4%** |
| &nbsp;&nbsp;&nbsp;Kinder Morgan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;120985 | &nbsp;&nbsp;&nbsp;&nbsp; 3394839 |
| &nbsp;&nbsp;&nbsp;ONEOK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40024 | &nbsp;&nbsp;&nbsp;&nbsp; 3286371 |
| &nbsp;&nbsp;&nbsp;Targa Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13441 | &nbsp;&nbsp;&nbsp;&nbsp; 2236717 |
| &nbsp;&nbsp;&nbsp;Williams Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;76859 | &nbsp;&nbsp;&nbsp;&nbsp; 4607697 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13525624 |
| **Private Equity — 0.4%** | **Private Equity — 0.4%** | **Private Equity — 0.4%** |
| &nbsp;&nbsp;&nbsp;Blackstone, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;45970 | &nbsp;&nbsp;&nbsp;&nbsp; 7950971 |
| &nbsp;&nbsp;&nbsp;KKR & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42844 | &nbsp;&nbsp;&nbsp;&nbsp; 6280074 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14231045 |
| **Real Estate — 0.2%** | **Real Estate — 0.2%** | **Real Estate — 0.2%** |
| &nbsp;&nbsp;&nbsp;CBRE Group, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;18355 | &nbsp;&nbsp;&nbsp;&nbsp; 2858608 |
| &nbsp;&nbsp;&nbsp;CoStar Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;26089 | &nbsp;&nbsp;&nbsp;&nbsp; 2483412 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5342020 |
| **REITS — 1.8%** | **REITS — 1.8%** | **REITS — 1.8%** |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9939 | &nbsp;&nbsp;&nbsp;&nbsp; 759638 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;29690 | &nbsp;&nbsp;&nbsp;&nbsp; 6187099 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8658 | &nbsp;&nbsp;&nbsp;&nbsp; 1612812 |
| &nbsp;&nbsp;&nbsp;BXP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9388 | &nbsp;&nbsp;&nbsp;&nbsp; 614257 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6883 | &nbsp;&nbsp;&nbsp;&nbsp; 751624 |
| &nbsp;&nbsp;&nbsp;Crown Castle, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27140 | &nbsp;&nbsp;&nbsp;&nbsp; 2852143 |
| &nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19843 | &nbsp;&nbsp;&nbsp;&nbsp; 3501099 |
| &nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6149 | &nbsp;&nbsp;&nbsp;&nbsp; 4828010 |
| &nbsp;&nbsp;&nbsp;Equity Residential | &nbsp;&nbsp;&nbsp;&nbsp;22046 | &nbsp;&nbsp;&nbsp;&nbsp; 1393307 |
| &nbsp;&nbsp;&nbsp;Essex Property Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4146 | &nbsp;&nbsp;&nbsp;&nbsp; 1078706 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12997 | &nbsp;&nbsp;&nbsp;&nbsp; 1746277 |
| &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4975 | &nbsp;&nbsp;&nbsp;&nbsp; 458496 |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;45130 | &nbsp;&nbsp;&nbsp;&nbsp; 764502 |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;45095 | &nbsp;&nbsp;&nbsp;&nbsp; 708893 |
| &nbsp;&nbsp;&nbsp;Invitation Homes, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36754 | &nbsp;&nbsp;&nbsp;&nbsp; 1126510 |
| &nbsp;&nbsp;&nbsp;Iron Mountain, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18950 | &nbsp;&nbsp;&nbsp;&nbsp; 1844972 |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;43834 | &nbsp;&nbsp;&nbsp;&nbsp; 930596 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartment Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7542 | &nbsp;&nbsp;&nbsp;&nbsp; 1074207 |
| &nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;58892 | &nbsp;&nbsp;&nbsp;&nbsp; 6288488 |
| &nbsp;&nbsp;&nbsp;Public Storage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9811 | &nbsp;&nbsp;&nbsp;&nbsp; 2668003 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | &nbsp;&nbsp;&nbsp;&nbsp;56461 | &nbsp;&nbsp;&nbsp;&nbsp; 3169156 |
| &nbsp;&nbsp;&nbsp;Regency Centers Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10531 | &nbsp;&nbsp;&nbsp;&nbsp; 751913 |
| &nbsp;&nbsp;&nbsp;SBA Communications Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6937 | &nbsp;&nbsp;&nbsp;&nbsp; 1558883 |
| &nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19167 | &nbsp;&nbsp;&nbsp;&nbsp; 3139363 |
| &nbsp;&nbsp;&nbsp;UDR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19423 | &nbsp;&nbsp;&nbsp;&nbsp; 763130 |
| &nbsp;&nbsp;&nbsp;Ventas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28200 | &nbsp;&nbsp;&nbsp;&nbsp; 1894476 |
| &nbsp;&nbsp;&nbsp;VICI Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;64951 | &nbsp;&nbsp;&nbsp;&nbsp; 2117403 |
| &nbsp;&nbsp;&nbsp;Welltower, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39303 | &nbsp;&nbsp;&nbsp;&nbsp; 6487746 |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser Co. | &nbsp;&nbsp;&nbsp;&nbsp;46807 | &nbsp;&nbsp;&nbsp;&nbsp; 1172515 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62244224 |
| **Retail — 4.4%** | **Retail — 4.4%** | **Retail — 4.4%** |
| &nbsp;&nbsp;&nbsp;AutoZone, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1055 | &nbsp;&nbsp;&nbsp;&nbsp; 3975641 |
| &nbsp;&nbsp;&nbsp;Best Buy Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12551 | &nbsp;&nbsp;&nbsp;&nbsp; 816568 |
| &nbsp;&nbsp;&nbsp;CarMax, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9922 | &nbsp;&nbsp;&nbsp;&nbsp; 561684 |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;85640 | &nbsp;&nbsp;&nbsp;&nbsp; 3672243 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp;27973 | &nbsp;&nbsp;&nbsp;&nbsp; 26284550 |
| &nbsp;&nbsp;&nbsp;Darden Restaurants, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7558 | &nbsp;&nbsp;&nbsp;&nbsp; 1524222 |
| &nbsp;&nbsp;&nbsp;Dollar General Corp. | &nbsp;&nbsp;&nbsp;&nbsp;14187 | &nbsp;&nbsp;&nbsp;&nbsp; 1488216 |
| &nbsp;&nbsp;&nbsp;Dollar Tree, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12023 | &nbsp;&nbsp;&nbsp;&nbsp; 1365212 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2228 | &nbsp;&nbsp;&nbsp;&nbsp; 1032032 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| &nbsp;&nbsp;&nbsp;Genuine Parts Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8970 | &nbsp;&nbsp;$1156054 |
| &nbsp;&nbsp;&nbsp;Home Depot, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;62664 | &nbsp;&nbsp;&nbsp;&nbsp; 23029647 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35092 | &nbsp;&nbsp;&nbsp;&nbsp; 7845518 |
| &nbsp;&nbsp;&nbsp;Lululemon Athletica, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6820 | &nbsp;&nbsp;&nbsp;&nbsp; 1367615 |
| &nbsp;&nbsp;&nbsp;McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;45081 | &nbsp;&nbsp;&nbsp;&nbsp; 13527456 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;53477 | &nbsp;&nbsp;&nbsp;&nbsp; 5257859 |
| &nbsp;&nbsp;&nbsp;Ross Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20532 | &nbsp;&nbsp;&nbsp;&nbsp; 2803439 |
| &nbsp;&nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;&nbsp;&nbsp;72169 | &nbsp;&nbsp;&nbsp;&nbsp; 6434588 |
| &nbsp;&nbsp;&nbsp;Target Corp. | &nbsp;&nbsp;&nbsp;&nbsp;28540 | &nbsp;&nbsp;&nbsp;&nbsp; 2868270 |
| &nbsp;&nbsp;&nbsp;TJX Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;70136 | &nbsp;&nbsp;&nbsp;&nbsp; 8734036 |
| &nbsp;&nbsp;&nbsp;Tractor Supply Co. | &nbsp;&nbsp;&nbsp;&nbsp;32731 | &nbsp;&nbsp;&nbsp;&nbsp; 1864030 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2779 | &nbsp;&nbsp;&nbsp;&nbsp; 1431213 |
| &nbsp;&nbsp;&nbsp;Walgreens Boots Alliance, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46270 | &nbsp;&nbsp;&nbsp;&nbsp; 538583 |
| &nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;272393 | &nbsp;&nbsp;&nbsp;&nbsp; 26689066 |
| &nbsp;&nbsp;&nbsp;Williams-Sonoma, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7942 | &nbsp;&nbsp;&nbsp;&nbsp; 1485551 |
| &nbsp;&nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17304 | &nbsp;&nbsp;&nbsp;&nbsp; 2494371 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148247664 |
| **Semiconductors — 13.4%** | **Semiconductors — 13.4%** | **Semiconductors — 13.4%** |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;102225 | &nbsp;&nbsp;&nbsp;&nbsp; 18023290 |
| &nbsp;&nbsp;&nbsp;Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31107 | &nbsp;&nbsp;&nbsp;&nbsp; 6987566 |
| &nbsp;&nbsp;&nbsp;Applied Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51222 | &nbsp;&nbsp;&nbsp;&nbsp; 9223033 |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;296444 | &nbsp;&nbsp;&nbsp;&nbsp; 87065603 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;274821 | &nbsp;&nbsp;&nbsp;&nbsp; 5441456 |
| &nbsp;&nbsp;&nbsp;KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8337 | &nbsp;&nbsp;&nbsp;&nbsp; 7328473 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;80645 | &nbsp;&nbsp;&nbsp;&nbsp; 7648372 |
| &nbsp;&nbsp;&nbsp;Microchip Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33190 | &nbsp;&nbsp;&nbsp;&nbsp; 2243312 |
| &nbsp;&nbsp;&nbsp;Micron Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;70028 | &nbsp;&nbsp;&nbsp;&nbsp; 7642856 |
| &nbsp;&nbsp;&nbsp;Monolithic Power Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2942 | &nbsp;&nbsp;&nbsp;&nbsp; 2092468 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | 1537561 | &nbsp;&nbsp;&nbsp;&nbsp; 273485975 |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp;15935 | &nbsp;&nbsp;&nbsp;&nbsp; 3406425 |
| &nbsp;&nbsp;&nbsp;ON Semiconductor Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;25551 | &nbsp;&nbsp;&nbsp;&nbsp; 1440054 |
| &nbsp;&nbsp;&nbsp;QUALCOMM, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;69174 | &nbsp;&nbsp;&nbsp;&nbsp; 10151976 |
| &nbsp;&nbsp;&nbsp;Skyworks Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9003 | &nbsp;&nbsp;&nbsp;&nbsp; 617066 |
| &nbsp;&nbsp;&nbsp;Teradyne, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10507 | &nbsp;&nbsp;&nbsp;&nbsp; 1128767 |
| &nbsp;&nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;57190 | &nbsp;&nbsp;&nbsp;&nbsp; 10354821 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454281513 |
| **Shipbuilding — 0.0%** | **Shipbuilding — 0.0%** | **Shipbuilding — 0.0%** |
| &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2525 | &nbsp;&nbsp;&nbsp;&nbsp; 704121 |
| **Software — 11.9%** | **Software — 11.9%** | **Software — 11.9%** |
| &nbsp;&nbsp;&nbsp;Adobe, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;26815 | &nbsp;&nbsp;&nbsp;&nbsp; 9591457 |
| &nbsp;&nbsp;&nbsp;Akamai Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9692 | &nbsp;&nbsp;&nbsp;&nbsp; 739597 |
| &nbsp;&nbsp;&nbsp;Autodesk, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13544 | &nbsp;&nbsp;&nbsp;&nbsp; 4105322 |
| &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7549 | &nbsp;&nbsp;&nbsp;&nbsp; 1868453 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;17366 | &nbsp;&nbsp;&nbsp;&nbsp; 6331123 |
| &nbsp;&nbsp;&nbsp;Datadog, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;20416 | &nbsp;&nbsp;&nbsp;&nbsp; 2857832 |
| &nbsp;&nbsp;&nbsp;Dayforce, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10258 | &nbsp;&nbsp;&nbsp;&nbsp; 591579 |
| &nbsp;&nbsp;&nbsp;Electronic Arts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14644 | &nbsp;&nbsp;&nbsp;&nbsp; 2233064 |
| &nbsp;&nbsp;&nbsp;Fair Isaac Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1509 | &nbsp;&nbsp;&nbsp;&nbsp; 2168010 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32933 | &nbsp;&nbsp;&nbsp;&nbsp; 2615210 |
| &nbsp;&nbsp;&nbsp;Fiserv, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;34983 | &nbsp;&nbsp;&nbsp;&nbsp; 4860538 |
| &nbsp;&nbsp;&nbsp;Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17626 | &nbsp;&nbsp;&nbsp;&nbsp; 13838701 |
| &nbsp;&nbsp;&nbsp;Jack Henry & Associates, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4704 | &nbsp;&nbsp;&nbsp;&nbsp; 798810 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;468599 | &nbsp;&nbsp;&nbsp;&nbsp; 249997566 |
| &nbsp;&nbsp;&nbsp;MSCI, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4821 | &nbsp;&nbsp;&nbsp;&nbsp; 2706317 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;102543 | &nbsp;&nbsp;&nbsp;&nbsp; 26022337 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;134109 | &nbsp;&nbsp;&nbsp;&nbsp; 21236160 |
| &nbsp;&nbsp;&nbsp;Paychex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19977 | &nbsp;&nbsp;&nbsp;&nbsp; 2883280 |
| &nbsp;&nbsp;&nbsp;Paycom Software, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3038 | &nbsp;&nbsp;&nbsp;&nbsp; 703419 |
| &nbsp;&nbsp;&nbsp;PTC, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7258 | &nbsp;&nbsp;&nbsp;&nbsp; 1559091 |
| &nbsp;&nbsp;&nbsp;Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6735 | &nbsp;&nbsp;&nbsp;&nbsp; 3706944 |
| &nbsp;&nbsp;&nbsp;Salesforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;60492 | &nbsp;&nbsp;&nbsp;&nbsp; 15626898 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Large Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp;ServiceNow, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13051 | &nbsp;&nbsp;$12308659 |
| &nbsp;&nbsp;&nbsp;Synopsys, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;11724 | &nbsp;&nbsp;&nbsp;&nbsp; 7426802 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10589 | &nbsp;&nbsp;&nbsp;&nbsp; 2358488 |
| &nbsp;&nbsp;&nbsp;Tyler Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2762 | &nbsp;&nbsp;&nbsp;&nbsp; 1614555 |
| &nbsp;&nbsp;&nbsp;Workday, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;13806 | &nbsp;&nbsp;&nbsp;&nbsp; 3166820 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403917032 |
| **Telecommunications — 1.9%** | **Telecommunications — 1.9%** | **Telecommunications — 1.9%** |
| &nbsp;&nbsp;&nbsp;Arista Networks, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;64760 | &nbsp;&nbsp;&nbsp;&nbsp; 7979727 |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;453661 | &nbsp;&nbsp;&nbsp;&nbsp; 12434848 |
| &nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;250819 | &nbsp;&nbsp;&nbsp;&nbsp; 17075758 |
| &nbsp;&nbsp;&nbsp;Corning, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47901 | &nbsp;&nbsp;&nbsp;&nbsp; 3029259 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10547 | &nbsp;&nbsp;&nbsp;&nbsp; 4629922 |
| &nbsp;&nbsp;&nbsp;T-Mobile US, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30066 | &nbsp;&nbsp;&nbsp;&nbsp; 7168035 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;266935 | &nbsp;&nbsp;&nbsp;&nbsp; 11414141 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63731690 |
| **Toys/Games/Hobbies — 0.0%** | **Toys/Games/Hobbies — 0.0%** | **Toys/Games/Hobbies — 0.0%** |
| &nbsp;&nbsp;&nbsp;Hasbro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8460 | &nbsp;&nbsp;&nbsp;&nbsp; 635854 |
| **Transportation — 0.8%** | **Transportation — 0.8%** | **Transportation — 0.8%** |
| &nbsp;&nbsp;&nbsp;C.H. Robinson Worldwide, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7658 | &nbsp;&nbsp;&nbsp;&nbsp; 883121 |
| &nbsp;&nbsp;&nbsp;CSX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;117697 | &nbsp;&nbsp;&nbsp;&nbsp; 4182951 |
| &nbsp;&nbsp;&nbsp;Expeditors International of Washington, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8149 | &nbsp;&nbsp;&nbsp;&nbsp; 947240 |
| &nbsp;&nbsp;&nbsp;FedEx Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13855 | &nbsp;&nbsp;&nbsp;&nbsp; 3096454 |
| &nbsp;&nbsp;&nbsp;JB Hunt Transport Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5125 | &nbsp;&nbsp;&nbsp;&nbsp; 738256 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | &nbsp;&nbsp;&nbsp;&nbsp;14243 | &nbsp;&nbsp;&nbsp;&nbsp; 3959554 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11500 | &nbsp;&nbsp;&nbsp;&nbsp; 1716375 |
| &nbsp;&nbsp;&nbsp;Union Pacific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;37640 | &nbsp;&nbsp;&nbsp;&nbsp; 8354951 |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;46172 | &nbsp;&nbsp;&nbsp;&nbsp; 3978179 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27857081 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Water — 0.1%** | **Water — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;American Water Works Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12573 | &nbsp;&nbsp;$1763237 |
| **Total Common Stocks<br> (cost $1,388,782,606)** |  | &nbsp;&nbsp;&nbsp;&nbsp;3387992343 |
| **UNAFFILIATED INVESTMENT COMPANIES — 0.0%** | **UNAFFILIATED INVESTMENT COMPANIES — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;iShares Core S&P 500 ETF<br> (cost $1,490,775) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2703 | &nbsp;&nbsp;&nbsp;&nbsp; 1716135 |
| **Total Long-Term Investment Securities<br> (cost $1,390,273,381)** |  | &nbsp;&nbsp;&nbsp;&nbsp;3389708478 |
| **SHORT-TERM INVESTMENTS — 0.3%** | **SHORT-TERM INVESTMENTS — 0.3%** |  |
| **Unaffiliated Investment Companies — 0.3%** | **Unaffiliated Investment Companies — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(1)<br> (cost $9,521,501) | 9521501 | &nbsp;&nbsp;&nbsp;&nbsp; 9521501 |
| **TOTAL INVESTMENTS<br> (cost $1,399,794,882)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;&nbsp;&nbsp;3399229979 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51777 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$3399281756 |

---

† Non-income producing security

(1) The rate shown is the 7-day yield as of July 31, 2025.

(2) See Note 4 for cost of investments on a tax basis.

ETF—Exchange Traded Fund

#### Futures Contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number<br> of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Expiration<br> Month** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Basis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Value\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
| 35 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;S&P 500 E-Mini Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$11242688 | &nbsp;&nbsp;&nbsp;&nbsp;$11154938 | &nbsp;&nbsp;&nbsp;&nbsp;$(87750) |

---

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

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$3387992343 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$3387992343 |
| Unaffiliated Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1716135 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1716135 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9521501 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9521501 |
| **Total Investments at Value** | &nbsp;&nbsp;$3399229979 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$3399229979 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;$87750 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$87750 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | &nbsp;&nbsp;Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Large Cap Value Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.0%** | **COMMON STOCKS — 99.0%** | **COMMON STOCKS — 99.0%** |
| **Advertising — 0.1%** | **Advertising — 0.1%** | **Advertising — 0.1%** |
| &nbsp;&nbsp;&nbsp;Interpublic Group of Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9794 | &nbsp;&nbsp;$240932 |
| &nbsp;&nbsp;&nbsp;Omnicom Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5078 | &nbsp;&nbsp;&nbsp;&nbsp; 365870 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606802 |
| **Aerospace/Defense — 2.9%** | **Aerospace/Defense — 2.9%** | **Aerospace/Defense — 2.9%** |
| &nbsp;&nbsp;&nbsp;Boeing Co.† | &nbsp;&nbsp;&nbsp;&nbsp;19742 | &nbsp;&nbsp;&nbsp;&nbsp; 4379565 |
| &nbsp;&nbsp;&nbsp;General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6617 | &nbsp;&nbsp;&nbsp;&nbsp; 2061924 |
| &nbsp;&nbsp;&nbsp;General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;16461 | &nbsp;&nbsp;&nbsp;&nbsp; 4462248 |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4921 | &nbsp;&nbsp;&nbsp;&nbsp; 1352389 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5469 | &nbsp;&nbsp;&nbsp;&nbsp; 2302340 |
| &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3544 | &nbsp;&nbsp;&nbsp;&nbsp; 2043506 |
| &nbsp;&nbsp;&nbsp;RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15069 | &nbsp;&nbsp;&nbsp;&nbsp; 2374422 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;18976394 |
| **Agriculture — 0.8%** | **Agriculture — 0.8%** | **Agriculture — 0.8%** |
| &nbsp;&nbsp;&nbsp;Altria Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23847 | &nbsp;&nbsp;&nbsp;&nbsp; 1477083 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | &nbsp;&nbsp;&nbsp;&nbsp;12449 | &nbsp;&nbsp;&nbsp;&nbsp; 674487 |
| &nbsp;&nbsp;&nbsp;Bunge Global SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3510 | &nbsp;&nbsp;&nbsp;&nbsp; 279958 |
| &nbsp;&nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18770 | &nbsp;&nbsp;&nbsp;&nbsp; 3079218 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5510746 |
| **Airlines — 0.1%** | **Airlines — 0.1%** | **Airlines — 0.1%** |
| &nbsp;&nbsp;&nbsp;Southwest Airlines Co. | &nbsp;&nbsp;&nbsp;&nbsp;14801 | &nbsp;&nbsp;&nbsp;&nbsp; 457795 |
| **Apparel — 0.4%** | **Apparel — 0.4%** | **Apparel — 0.4%** |
| &nbsp;&nbsp;&nbsp;NIKE, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;30822 | &nbsp;&nbsp;&nbsp;&nbsp; 2302095 |
| **Auto Manufacturers — 0.5%** | **Auto Manufacturers — 0.5%** | **Auto Manufacturers — 0.5%** |
| &nbsp;&nbsp;&nbsp;Ford Motor Co. | &nbsp;&nbsp;&nbsp;&nbsp;101764 | &nbsp;&nbsp;&nbsp;&nbsp; 1126527 |
| &nbsp;&nbsp;&nbsp;General Motors Co. | &nbsp;&nbsp;&nbsp;&nbsp;25102 | &nbsp;&nbsp;&nbsp;&nbsp; 1338941 |
| &nbsp;&nbsp;&nbsp;PACCAR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6139 | &nbsp;&nbsp;&nbsp;&nbsp; 606288 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3071756 |
| **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** |
| &nbsp;&nbsp;&nbsp;Aptiv PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5660 | &nbsp;&nbsp;&nbsp;&nbsp; 388502 |
| **Banks — 7.4%** | **Banks — 7.4%** | **Banks — 7.4%** |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;171691 | &nbsp;&nbsp;&nbsp;&nbsp; 8115833 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8680 | &nbsp;&nbsp;&nbsp;&nbsp; 880586 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;48905 | &nbsp;&nbsp;&nbsp;&nbsp; 4582398 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11338 | &nbsp;&nbsp;&nbsp;&nbsp; 541049 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;17449 | &nbsp;&nbsp;&nbsp;&nbsp; 725355 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8030 | &nbsp;&nbsp;&nbsp;&nbsp; 5810428 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;37827 | &nbsp;&nbsp;&nbsp;&nbsp; 621498 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;31311 | &nbsp;&nbsp;&nbsp;&nbsp; 9275571 |
| &nbsp;&nbsp;&nbsp;KeyCorp | &nbsp;&nbsp;&nbsp;&nbsp;25798 | &nbsp;&nbsp;&nbsp;&nbsp; 462300 |
| &nbsp;&nbsp;&nbsp;M&T Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4191 | &nbsp;&nbsp;&nbsp;&nbsp; 790842 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;17796 | &nbsp;&nbsp;&nbsp;&nbsp; 2535218 |
| &nbsp;&nbsp;&nbsp;Northern Trust Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5093 | &nbsp;&nbsp;&nbsp;&nbsp; 662090 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10325 | &nbsp;&nbsp;&nbsp;&nbsp; 1964538 |
| &nbsp;&nbsp;&nbsp;Regions Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23621 | &nbsp;&nbsp;&nbsp;&nbsp; 598320 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7517 | &nbsp;&nbsp;&nbsp;&nbsp; 840025 |
| &nbsp;&nbsp;&nbsp;Truist Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;34450 | &nbsp;&nbsp;&nbsp;&nbsp; 1505809 |
| &nbsp;&nbsp;&nbsp;US Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;40682 | &nbsp;&nbsp;&nbsp;&nbsp; 1829063 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;85238 | &nbsp;&nbsp;&nbsp;&nbsp; 6872740 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;48613663 |
| **Beverages — 2.2%** | **Beverages — 2.2%** | **Beverages — 2.2%** |
| &nbsp;&nbsp;&nbsp;Brown-Forman Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4788 | &nbsp;&nbsp;&nbsp;&nbsp; 138134 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | &nbsp;&nbsp;&nbsp;&nbsp;101518 | &nbsp;&nbsp;&nbsp;&nbsp; 6892057 |
| &nbsp;&nbsp;&nbsp;Constellation Brands, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4049 | &nbsp;&nbsp;&nbsp;&nbsp; 676345 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35407 | &nbsp;&nbsp;&nbsp;&nbsp; 1156039 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage Co., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4527 | &nbsp;&nbsp;&nbsp;&nbsp; 220555 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Beverages (continued)** | **Beverages (continued)** | **Beverages (continued)** |
| &nbsp;&nbsp;&nbsp;Monster Beverage Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;10211 | &nbsp;&nbsp;$599896 |
| &nbsp;&nbsp;&nbsp;PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35921 | &nbsp;&nbsp;&nbsp;&nbsp; 4954224 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14637250 |
| **Biotechnology — 1.5%** | **Biotechnology — 1.5%** | **Biotechnology — 1.5%** |
| &nbsp;&nbsp;&nbsp;Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7985 | &nbsp;&nbsp;&nbsp;&nbsp; 2356374 |
| &nbsp;&nbsp;&nbsp;Biogen, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3801 | &nbsp;&nbsp;&nbsp;&nbsp; 486528 |
| &nbsp;&nbsp;&nbsp;Corteva, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17907 | &nbsp;&nbsp;&nbsp;&nbsp; 1291632 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32589 | &nbsp;&nbsp;&nbsp;&nbsp; 3659419 |
| &nbsp;&nbsp;&nbsp;Incyte Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1689 | &nbsp;&nbsp;&nbsp;&nbsp; 126489 |
| &nbsp;&nbsp;&nbsp;Moderna, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8904 | &nbsp;&nbsp;&nbsp;&nbsp; 263202 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2702 | &nbsp;&nbsp;&nbsp;&nbsp; 1473833 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9657477 |
| **Building Materials — 0.6%** | **Building Materials — 0.6%** | **Building Materials — 0.6%** |
| &nbsp;&nbsp;&nbsp;Builders FirstSource, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1451 | &nbsp;&nbsp;&nbsp;&nbsp; 184466 |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10952 | &nbsp;&nbsp;&nbsp;&nbsp; 751526 |
| &nbsp;&nbsp;&nbsp;Johnson Controls International PLC | &nbsp;&nbsp;&nbsp;&nbsp;17227 | &nbsp;&nbsp;&nbsp;&nbsp; 1808835 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp;&nbsp;&nbsp; 436909 |
| &nbsp;&nbsp;&nbsp;Masco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3288 | &nbsp;&nbsp;&nbsp;&nbsp; 224011 |
| &nbsp;&nbsp;&nbsp;Mohawk Industries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1378 | &nbsp;&nbsp;&nbsp;&nbsp; 157795 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1320 | &nbsp;&nbsp;&nbsp;&nbsp; 362564 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3926106 |
| **Chemicals — 2.0%** | **Chemicals — 2.0%** | **Chemicals — 2.0%** |
| &nbsp;&nbsp;&nbsp;Air Products & Chemicals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5802 | &nbsp;&nbsp;&nbsp;&nbsp; 1670280 |
| &nbsp;&nbsp;&nbsp;Albemarle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3091 | &nbsp;&nbsp;&nbsp;&nbsp; 209724 |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4230 | &nbsp;&nbsp;&nbsp;&nbsp; 392671 |
| &nbsp;&nbsp;&nbsp;Dow, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18296 | &nbsp;&nbsp;&nbsp;&nbsp; 426114 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10899 | &nbsp;&nbsp;&nbsp;&nbsp; 783638 |
| &nbsp;&nbsp;&nbsp;Eastman Chemical Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3028 | &nbsp;&nbsp;&nbsp;&nbsp; 219863 |
| &nbsp;&nbsp;&nbsp;Ecolab, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3354 | &nbsp;&nbsp;&nbsp;&nbsp; 877943 |
| &nbsp;&nbsp;&nbsp;International Flavors & Fragrances, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6642 | &nbsp;&nbsp;&nbsp;&nbsp; 471781 |
| &nbsp;&nbsp;&nbsp;Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;12350 | &nbsp;&nbsp;&nbsp;&nbsp; 5684211 |
| &nbsp;&nbsp;&nbsp;LyondellBasell Industries NV, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6703 | &nbsp;&nbsp;&nbsp;&nbsp; 388305 |
| &nbsp;&nbsp;&nbsp;Mosaic Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8351 | &nbsp;&nbsp;&nbsp;&nbsp; 300720 |
| &nbsp;&nbsp;&nbsp;PPG Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6047 | &nbsp;&nbsp;&nbsp;&nbsp; 637958 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2601 | &nbsp;&nbsp;&nbsp;&nbsp; 860619 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;12923827 |
| **Commercial Services — 1.3%** | **Commercial Services — 1.3%** | **Commercial Services — 1.3%** |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4560 | &nbsp;&nbsp;&nbsp;&nbsp; 1411320 |
| &nbsp;&nbsp;&nbsp;Block, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9081 | &nbsp;&nbsp;&nbsp;&nbsp; 701598 |
| &nbsp;&nbsp;&nbsp;Equifax, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3237 | &nbsp;&nbsp;&nbsp;&nbsp; 777625 |
| &nbsp;&nbsp;&nbsp;Global Payments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6434 | &nbsp;&nbsp;&nbsp;&nbsp; 514398 |
| &nbsp;&nbsp;&nbsp;MarketAxess Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991 | &nbsp;&nbsp;&nbsp;&nbsp; 203651 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1938 | &nbsp;&nbsp;&nbsp;&nbsp; 999485 |
| &nbsp;&nbsp;&nbsp;PayPal Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8498 | &nbsp;&nbsp;&nbsp;&nbsp; 584322 |
| &nbsp;&nbsp;&nbsp;Rollins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3101 | &nbsp;&nbsp;&nbsp;&nbsp; 177594 |
| &nbsp;&nbsp;&nbsp;S&P Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4363 | &nbsp;&nbsp;&nbsp;&nbsp; 2404449 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2060 | &nbsp;&nbsp;&nbsp;&nbsp; 574143 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8348585 |
| **Computers — 8.2%** | **Computers — 8.2%** | **Computers — 8.2%** |
| &nbsp;&nbsp;&nbsp;Accenture PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;16399 | &nbsp;&nbsp;&nbsp;&nbsp; 4380173 |
| &nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;211263 | &nbsp;&nbsp;&nbsp;&nbsp; 43851861 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;12927 | &nbsp;&nbsp;&nbsp;&nbsp; 927641 |
| &nbsp;&nbsp;&nbsp;Dell Technologies, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4120 | &nbsp;&nbsp;&nbsp;&nbsp; 546683 |
| &nbsp;&nbsp;&nbsp;EPAM Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1491 | &nbsp;&nbsp;&nbsp;&nbsp; 235146 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. | &nbsp;&nbsp;&nbsp;&nbsp;34184 | &nbsp;&nbsp;&nbsp;&nbsp; 707267 |
| &nbsp;&nbsp;&nbsp;HP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24410 | &nbsp;&nbsp;&nbsp;&nbsp; 605368 |
| &nbsp;&nbsp;&nbsp;Leidos Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1657 | &nbsp;&nbsp;&nbsp;&nbsp; 264540 |
| &nbsp;&nbsp;&nbsp;NetApp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2833 | &nbsp;&nbsp;&nbsp;&nbsp; 295000 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Large Cap Value Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Computers (continued)** | **Computers (continued)** | **Computers (continued)** |
| &nbsp;&nbsp;&nbsp;Seagate Technology Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5507 | &nbsp;&nbsp;$864654 |
| &nbsp;&nbsp;&nbsp;Western Digital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9030 | &nbsp;&nbsp;&nbsp;&nbsp; 710571 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;53388904 |
| **Cosmetics/Personal Care — 1.8%** | **Cosmetics/Personal Care — 1.8%** | **Cosmetics/Personal Care — 1.8%** |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | &nbsp;&nbsp;&nbsp;&nbsp;11879 | &nbsp;&nbsp;&nbsp;&nbsp; 996054 |
| &nbsp;&nbsp;&nbsp;Estee Lauder Cos., Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6066 | &nbsp;&nbsp;&nbsp;&nbsp; 566200 |
| &nbsp;&nbsp;&nbsp;Kenvue, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;50147 | &nbsp;&nbsp;&nbsp;&nbsp; 1075152 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | &nbsp;&nbsp;&nbsp;&nbsp;61445 | &nbsp;&nbsp;&nbsp;&nbsp; 9245629 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11883035 |
| **Distribution/Wholesale — 0.2%** | **Distribution/Wholesale — 0.2%** | **Distribution/Wholesale — 0.2%** |
| &nbsp;&nbsp;&nbsp;Fastenal Co. | &nbsp;&nbsp;&nbsp;&nbsp;12812 | &nbsp;&nbsp;&nbsp;&nbsp; 591018 |
| &nbsp;&nbsp;&nbsp;LKQ Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6835 | &nbsp;&nbsp;&nbsp;&nbsp; 201427 |
| &nbsp;&nbsp;&nbsp;Pool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp;&nbsp;&nbsp; 301977 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1094422 |
| **Diversified Financial Services — 3.0%** | **Diversified Financial Services — 3.0%** | **Diversified Financial Services — 3.0%** |
| &nbsp;&nbsp;&nbsp;Blackrock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3797 | &nbsp;&nbsp;&nbsp;&nbsp; 4199520 |
| &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16746 | &nbsp;&nbsp;&nbsp;&nbsp; 3600390 |
| &nbsp;&nbsp;&nbsp;Cboe Global Markets, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2724 | &nbsp;&nbsp;&nbsp;&nbsp; 656593 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;44743 | &nbsp;&nbsp;&nbsp;&nbsp; 4372733 |
| &nbsp;&nbsp;&nbsp;CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9468 | &nbsp;&nbsp;&nbsp;&nbsp; 2634755 |
| &nbsp;&nbsp;&nbsp;Coinbase Global, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2830 | &nbsp;&nbsp;&nbsp;&nbsp; 1069061 |
| &nbsp;&nbsp;&nbsp;Franklin Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8151 | &nbsp;&nbsp;&nbsp;&nbsp; 195624 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7180 | &nbsp;&nbsp;&nbsp;&nbsp; 1327079 |
| &nbsp;&nbsp;&nbsp;Invesco, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;11779 | &nbsp;&nbsp;&nbsp;&nbsp; 247477 |
| &nbsp;&nbsp;&nbsp;Nasdaq, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6343 | &nbsp;&nbsp;&nbsp;&nbsp; 610324 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1801 | &nbsp;&nbsp;&nbsp;&nbsp; 301001 |
| &nbsp;&nbsp;&nbsp;T. Rowe Price Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5789 | &nbsp;&nbsp;&nbsp;&nbsp; 587294 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;19801851 |
| **Electric — 3.6%** | **Electric — 3.6%** | **Electric — 3.6%** |
| &nbsp;&nbsp;&nbsp;AES Corp. | &nbsp;&nbsp;&nbsp;&nbsp;18695 | &nbsp;&nbsp;&nbsp;&nbsp; 245839 |
| &nbsp;&nbsp;&nbsp;Alliant Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6644 | &nbsp;&nbsp;&nbsp;&nbsp; 431927 |
| &nbsp;&nbsp;&nbsp;Ameren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7032 | &nbsp;&nbsp;&nbsp;&nbsp; 711146 |
| &nbsp;&nbsp;&nbsp;American Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14074 | &nbsp;&nbsp;&nbsp;&nbsp; 1592332 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16967 | &nbsp;&nbsp;&nbsp;&nbsp; 658659 |
| &nbsp;&nbsp;&nbsp;CMS Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7768 | &nbsp;&nbsp;&nbsp;&nbsp; 573278 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9407 | &nbsp;&nbsp;&nbsp;&nbsp; 973625 |
| &nbsp;&nbsp;&nbsp;Dominion Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22405 | &nbsp;&nbsp;&nbsp;&nbsp; 1309572 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5402 | &nbsp;&nbsp;&nbsp;&nbsp; 747691 |
| &nbsp;&nbsp;&nbsp;Duke Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;20406 | &nbsp;&nbsp;&nbsp;&nbsp; 2482186 |
| &nbsp;&nbsp;&nbsp;Edison International | &nbsp;&nbsp;&nbsp;&nbsp;10070 | &nbsp;&nbsp;&nbsp;&nbsp; 524848 |
| &nbsp;&nbsp;&nbsp;Entergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11653 | &nbsp;&nbsp;&nbsp;&nbsp; 1053781 |
| &nbsp;&nbsp;&nbsp;Evergy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6231 | &nbsp;&nbsp;&nbsp;&nbsp; 441155 |
| &nbsp;&nbsp;&nbsp;Eversource Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9544 | &nbsp;&nbsp;&nbsp;&nbsp; 630858 |
| &nbsp;&nbsp;&nbsp;Exelon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26285 | &nbsp;&nbsp;&nbsp;&nbsp; 1181248 |
| &nbsp;&nbsp;&nbsp;FirstEnergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13339 | &nbsp;&nbsp;&nbsp;&nbsp; 569709 |
| &nbsp;&nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17921 | &nbsp;&nbsp;&nbsp;&nbsp; 1273466 |
| &nbsp;&nbsp;&nbsp;PG&E Corp. | &nbsp;&nbsp;&nbsp;&nbsp;57313 | &nbsp;&nbsp;&nbsp;&nbsp; 803528 |
| &nbsp;&nbsp;&nbsp;Pinnacle West Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3197 | &nbsp;&nbsp;&nbsp;&nbsp; 289712 |
| &nbsp;&nbsp;&nbsp;PPL Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9317 | &nbsp;&nbsp;&nbsp;&nbsp; 332524 |
| &nbsp;&nbsp;&nbsp;Public Service Enterprise Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6863 | &nbsp;&nbsp;&nbsp;&nbsp; 616229 |
| &nbsp;&nbsp;&nbsp;Sempra | &nbsp;&nbsp;&nbsp;&nbsp;17027 | &nbsp;&nbsp;&nbsp;&nbsp; 1390765 |
| &nbsp;&nbsp;&nbsp;Southern Co. | &nbsp;&nbsp;&nbsp;&nbsp;28833 | &nbsp;&nbsp;&nbsp;&nbsp; 2724142 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8284 | &nbsp;&nbsp;&nbsp;&nbsp; 903619 |
| &nbsp;&nbsp;&nbsp;Xcel Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15187 | &nbsp;&nbsp;&nbsp;&nbsp; 1115333 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;23577172 |
| **Electrical Components & Equipment — 0.2%** | **Electrical Components & Equipment — 0.2%** | **Electrical Components & Equipment — 0.2%** |
| &nbsp;&nbsp;&nbsp;AMETEK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3188 | &nbsp;&nbsp;&nbsp;&nbsp; 589302 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Electrical Components & Equipment (continued)** | **Electrical Components & Equipment (continued)** | **Electrical Components & Equipment (continued)** |
| &nbsp;&nbsp;&nbsp;Emerson Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4692 | &nbsp;&nbsp;$682733 |
| &nbsp;&nbsp;&nbsp;Generac Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595 | &nbsp;&nbsp;&nbsp;&nbsp; 115840 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1387875 |
| **Electronics — 1.2%** | **Electronics — 1.2%** | **Electronics — 1.2%** |
| &nbsp;&nbsp;&nbsp;Allegion PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1075 | &nbsp;&nbsp;&nbsp;&nbsp; 178364 |
| &nbsp;&nbsp;&nbsp;Fortive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8884 | &nbsp;&nbsp;&nbsp;&nbsp; 425810 |
| &nbsp;&nbsp;&nbsp;Honeywell International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16824 | &nbsp;&nbsp;&nbsp;&nbsp; 3740816 |
| &nbsp;&nbsp;&nbsp;Jabil, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2842 | &nbsp;&nbsp;&nbsp;&nbsp; 634249 |
| &nbsp;&nbsp;&nbsp;Keysight Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4508 | &nbsp;&nbsp;&nbsp;&nbsp; 738906 |
| &nbsp;&nbsp;&nbsp;Mettler-Toledo International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319 | &nbsp;&nbsp;&nbsp;&nbsp; 393544 |
| &nbsp;&nbsp;&nbsp;TE Connectivity PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7760 | &nbsp;&nbsp;&nbsp;&nbsp; 1596620 |
| &nbsp;&nbsp;&nbsp;Trimble, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3604 | &nbsp;&nbsp;&nbsp;&nbsp; 302340 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8010649 |
| **Energy-Alternate Sources — 0.1%** | **Energy-Alternate Sources — 0.1%** | **Energy-Alternate Sources — 0.1%** |
| &nbsp;&nbsp;&nbsp;Enphase Energy, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3482 | &nbsp;&nbsp;&nbsp;&nbsp; 112677 |
| &nbsp;&nbsp;&nbsp;First Solar, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1323 | &nbsp;&nbsp;&nbsp;&nbsp; 231168 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343845 |
| **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** |
| &nbsp;&nbsp;&nbsp;Jacobs Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3172 | &nbsp;&nbsp;&nbsp;&nbsp; 450012 |
| **Entertainment — 0.0%** | **Entertainment — 0.0%** | **Entertainment — 0.0%** |
| &nbsp;&nbsp;&nbsp;Caesars Entertainment, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5586 | &nbsp;&nbsp;&nbsp;&nbsp; 149035 |
| **Environmental Control — 0.2%** | **Environmental Control — 0.2%** | **Environmental Control — 0.2%** |
| &nbsp;&nbsp;&nbsp;Pentair PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1523 | &nbsp;&nbsp;&nbsp;&nbsp; 155651 |
| &nbsp;&nbsp;&nbsp;Veralto Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3318 | &nbsp;&nbsp;&nbsp;&nbsp; 347826 |
| &nbsp;&nbsp;&nbsp;Waste Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4485 | &nbsp;&nbsp;&nbsp;&nbsp; 1027782 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1531259 |
| **Food — 1.4%** | **Food — 1.4%** | **Food — 1.4%** |
| &nbsp;&nbsp;&nbsp;The Campbell's Company | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5173 | &nbsp;&nbsp;&nbsp;&nbsp; 165122 |
| &nbsp;&nbsp;&nbsp;Conagra Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12550 | &nbsp;&nbsp;&nbsp;&nbsp; 229163 |
| &nbsp;&nbsp;&nbsp;General Mills, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14378 | &nbsp;&nbsp;&nbsp;&nbsp; 704235 |
| &nbsp;&nbsp;&nbsp;Hershey Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3846 | &nbsp;&nbsp;&nbsp;&nbsp; 715856 |
| &nbsp;&nbsp;&nbsp;Hormel Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7650 | &nbsp;&nbsp;&nbsp;&nbsp; 214889 |
| &nbsp;&nbsp;&nbsp;J.M. Smucker Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2798 | &nbsp;&nbsp;&nbsp;&nbsp; 300337 |
| &nbsp;&nbsp;&nbsp;Kellanova | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6993 | &nbsp;&nbsp;&nbsp;&nbsp; 558251 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz Co. | &nbsp;&nbsp;&nbsp;&nbsp;22659 | &nbsp;&nbsp;&nbsp;&nbsp; 622216 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | &nbsp;&nbsp;&nbsp;&nbsp;15994 | &nbsp;&nbsp;&nbsp;&nbsp; 1121179 |
| &nbsp;&nbsp;&nbsp;Lamb Weston Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3751 | &nbsp;&nbsp;&nbsp;&nbsp; 214070 |
| &nbsp;&nbsp;&nbsp;McCormick & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6554 | &nbsp;&nbsp;&nbsp;&nbsp; 462909 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;34009 | &nbsp;&nbsp;&nbsp;&nbsp; 2200042 |
| &nbsp;&nbsp;&nbsp;Sysco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12769 | &nbsp;&nbsp;&nbsp;&nbsp; 1016412 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7412 | &nbsp;&nbsp;&nbsp;&nbsp; 387648 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8912329 |
| **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** |
| &nbsp;&nbsp;&nbsp;International Paper Co. | &nbsp;&nbsp;&nbsp;&nbsp;13731 | &nbsp;&nbsp;&nbsp;&nbsp; 641787 |
| **Gas — 0.2%** | **Gas — 0.2%** | **Gas — 0.2%** |
| &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4132 | &nbsp;&nbsp;&nbsp;&nbsp; 644261 |
| &nbsp;&nbsp;&nbsp;NiSource, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12662 | &nbsp;&nbsp;&nbsp;&nbsp; 537502 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1181763 |
| **Hand/Machine Tools — 0.1%** | **Hand/Machine Tools — 0.1%** | **Hand/Machine Tools — 0.1%** |
| &nbsp;&nbsp;&nbsp;Snap-on, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1358 | &nbsp;&nbsp;&nbsp;&nbsp; 436176 |
| &nbsp;&nbsp;&nbsp;Stanley Black & Decker, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4054 | &nbsp;&nbsp;&nbsp;&nbsp; 274253 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710429 |
| **Healthcare-Products — 4.0%** | **Healthcare-Products — 4.0%** | **Healthcare-Products — 4.0%** |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;45577 | &nbsp;&nbsp;&nbsp;&nbsp; 5751362 |
| &nbsp;&nbsp;&nbsp;Agilent Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7445 | &nbsp;&nbsp;&nbsp;&nbsp; 854760 |
| &nbsp;&nbsp;&nbsp;Align Technology, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1745 | &nbsp;&nbsp;&nbsp;&nbsp; 225122 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Large Cap Value Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Healthcare-Products (continued)** | **Healthcare-Products (continued)** | **Healthcare-Products (continued)** |
| &nbsp;&nbsp;&nbsp;Baxter International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13217 | &nbsp;&nbsp;$287602 |
| &nbsp;&nbsp;&nbsp;Bio-Techne Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4156 | &nbsp;&nbsp;&nbsp;&nbsp; 227458 |
| &nbsp;&nbsp;&nbsp;Cooper Cos., Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5247 | &nbsp;&nbsp;&nbsp;&nbsp; 370910 |
| &nbsp;&nbsp;&nbsp;Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16691 | &nbsp;&nbsp;&nbsp;&nbsp; 3290797 |
| &nbsp;&nbsp;&nbsp;Edwards Lifesciences Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;15431 | &nbsp;&nbsp;&nbsp;&nbsp; 1223833 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11937 | &nbsp;&nbsp;&nbsp;&nbsp; 851347 |
| &nbsp;&nbsp;&nbsp;Hologic, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5800 | &nbsp;&nbsp;&nbsp;&nbsp; 387556 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp; 1122051 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp;33653 | &nbsp;&nbsp;&nbsp;&nbsp; 3036847 |
| &nbsp;&nbsp;&nbsp;Revvity, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3132 | &nbsp;&nbsp;&nbsp;&nbsp; 275303 |
| &nbsp;&nbsp;&nbsp;Solventum Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3634 | &nbsp;&nbsp;&nbsp;&nbsp; 259322 |
| &nbsp;&nbsp;&nbsp;STERIS PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2557 | &nbsp;&nbsp;&nbsp;&nbsp; 579135 |
| &nbsp;&nbsp;&nbsp;Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4259 | &nbsp;&nbsp;&nbsp;&nbsp; 1672637 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9888 | &nbsp;&nbsp;&nbsp;&nbsp; 4624420 |
| &nbsp;&nbsp;&nbsp;Waters Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;843 | &nbsp;&nbsp;&nbsp;&nbsp; 243425 |
| &nbsp;&nbsp;&nbsp;West Pharmaceutical Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1874 | &nbsp;&nbsp;&nbsp;&nbsp; 448373 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5166 | &nbsp;&nbsp;&nbsp;&nbsp; 473464 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;26205724 |
| **Healthcare-Services — 2.1%** | **Healthcare-Services — 2.1%** | **Healthcare-Services — 2.1%** |
| &nbsp;&nbsp;&nbsp;Centene Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;12934 | &nbsp;&nbsp;&nbsp;&nbsp; 337189 |
| &nbsp;&nbsp;&nbsp;Charles River Laboratories International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1339 | &nbsp;&nbsp;&nbsp;&nbsp; 227148 |
| &nbsp;&nbsp;&nbsp;Cigna Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6975 | &nbsp;&nbsp;&nbsp;&nbsp; 1864976 |
| &nbsp;&nbsp;&nbsp;Elevance Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5968 | &nbsp;&nbsp;&nbsp;&nbsp; 1689421 |
| &nbsp;&nbsp;&nbsp;HCA Healthcare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1848 | &nbsp;&nbsp;&nbsp;&nbsp; 654174 |
| &nbsp;&nbsp;&nbsp;Humana, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3145 | &nbsp;&nbsp;&nbsp;&nbsp; 785841 |
| &nbsp;&nbsp;&nbsp;IQVIA Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4342 | &nbsp;&nbsp;&nbsp;&nbsp; 807004 |
| &nbsp;&nbsp;&nbsp;Labcorp Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2167 | &nbsp;&nbsp;&nbsp;&nbsp; 563593 |
| &nbsp;&nbsp;&nbsp;Molina Healthcare, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1374 | &nbsp;&nbsp;&nbsp;&nbsp; 216913 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2993 | &nbsp;&nbsp;&nbsp;&nbsp; 501058 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23766 | &nbsp;&nbsp;&nbsp;&nbsp; 5931043 |
| &nbsp;&nbsp;&nbsp;Universal Health Services, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1561 | &nbsp;&nbsp;&nbsp;&nbsp; 259829 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;13838189 |
| **Home Builders — 0.3%** | **Home Builders — 0.3%** | **Home Builders — 0.3%** |
| &nbsp;&nbsp;&nbsp;D.R. Horton, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7218 | &nbsp;&nbsp;&nbsp;&nbsp; 1031019 |
| &nbsp;&nbsp;&nbsp;Lennar Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6083 | &nbsp;&nbsp;&nbsp;&nbsp; 682391 |
| &nbsp;&nbsp;&nbsp;NVR, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp;&nbsp;&nbsp; 218935 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1932345 |
| **Household Products/Wares — 0.4%** | **Household Products/Wares — 0.4%** | **Household Products/Wares — 0.4%** |
| &nbsp;&nbsp;&nbsp;Avery Dennison Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2078 | &nbsp;&nbsp;&nbsp;&nbsp; 348626 |
| &nbsp;&nbsp;&nbsp;Church & Dwight Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6404 | &nbsp;&nbsp;&nbsp;&nbsp; 600503 |
| &nbsp;&nbsp;&nbsp;Clorox Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3191 | &nbsp;&nbsp;&nbsp;&nbsp; 400662 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8782 | &nbsp;&nbsp;&nbsp;&nbsp; 1094413 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2444204 |
| **Insurance — 4.3%** | **Insurance — 4.3%** | **Insurance — 4.3%** |
| &nbsp;&nbsp;&nbsp;Aflac, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12704 | &nbsp;&nbsp;&nbsp;&nbsp; 1262270 |
| &nbsp;&nbsp;&nbsp;Allstate Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6905 | &nbsp;&nbsp;&nbsp;&nbsp; 1403441 |
| &nbsp;&nbsp;&nbsp;American International Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15600 | &nbsp;&nbsp;&nbsp;&nbsp; 1211028 |
| &nbsp;&nbsp;&nbsp;Aon PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2769 | &nbsp;&nbsp;&nbsp;&nbsp; 984961 |
| &nbsp;&nbsp;&nbsp;Arthur J. Gallagher & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3704 | &nbsp;&nbsp;&nbsp;&nbsp; 1063974 |
| &nbsp;&nbsp;&nbsp;Assurant, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1354 | &nbsp;&nbsp;&nbsp;&nbsp; 253604 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc., Class B† | &nbsp;&nbsp;&nbsp;&nbsp;24494 | &nbsp;&nbsp;&nbsp;&nbsp; 11558229 |
| &nbsp;&nbsp;&nbsp;Chubb, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9718 | &nbsp;&nbsp;&nbsp;&nbsp; 2585377 |
| &nbsp;&nbsp;&nbsp;Cincinnati Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1932 | &nbsp;&nbsp;&nbsp;&nbsp; 284989 |
| &nbsp;&nbsp;&nbsp;Everest Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1112 | &nbsp;&nbsp;&nbsp;&nbsp; 373410 |
| &nbsp;&nbsp;&nbsp;Globe Life, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2211 | &nbsp;&nbsp;&nbsp;&nbsp; 310579 |
| &nbsp;&nbsp;&nbsp;Hartford Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3354 | &nbsp;&nbsp;&nbsp;&nbsp; 417204 |
| &nbsp;&nbsp;&nbsp;Loews Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4574 | &nbsp;&nbsp;&nbsp;&nbsp; 414130 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7172 | &nbsp;&nbsp;&nbsp;&nbsp; 1428662 |
| &nbsp;&nbsp;&nbsp;MetLife, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14974 | &nbsp;&nbsp;&nbsp;&nbsp; 1137275 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| &nbsp;&nbsp;&nbsp;Principal Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5212 | &nbsp;&nbsp;$405650 |
| &nbsp;&nbsp;&nbsp;Prudential Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9248 | &nbsp;&nbsp;&nbsp;&nbsp; 957908 |
| &nbsp;&nbsp;&nbsp;Travelers Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5918 | &nbsp;&nbsp;&nbsp;&nbsp; 1540100 |
| &nbsp;&nbsp;&nbsp;W.R. Berkley Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3552 | &nbsp;&nbsp;&nbsp;&nbsp; 244413 |
| &nbsp;&nbsp;&nbsp;Willis Towers Watson PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1344 | &nbsp;&nbsp;&nbsp;&nbsp; 424449 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;28261653 |
| **Internet — 4.1%** | **Internet — 4.1%** | **Internet — 4.1%** |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;103930 | &nbsp;&nbsp;&nbsp;&nbsp; 24331052 |
| &nbsp;&nbsp;&nbsp;CDW Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3468 | &nbsp;&nbsp;&nbsp;&nbsp; 604750 |
| &nbsp;&nbsp;&nbsp;eBay, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3914 | &nbsp;&nbsp;&nbsp;&nbsp; 359109 |
| &nbsp;&nbsp;&nbsp;F5, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;819 | &nbsp;&nbsp;&nbsp;&nbsp; 256691 |
| &nbsp;&nbsp;&nbsp;Gen Digital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5989 | &nbsp;&nbsp;&nbsp;&nbsp; 176616 |
| &nbsp;&nbsp;&nbsp;Match Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6602 | &nbsp;&nbsp;&nbsp;&nbsp; 226251 |
| &nbsp;&nbsp;&nbsp;VeriSign, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2115 | &nbsp;&nbsp;&nbsp;&nbsp; 568660 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;26523129 |
| **Iron/Steel — 0.2%** | **Iron/Steel — 0.2%** | **Iron/Steel — 0.2%** |
| &nbsp;&nbsp;&nbsp;Nucor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6114 | &nbsp;&nbsp;&nbsp;&nbsp; 874730 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3526 | &nbsp;&nbsp;&nbsp;&nbsp; 449777 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1324507 |
| **Lodging — 0.0%** | **Lodging — 0.0%** | **Lodging — 0.0%** |
| &nbsp;&nbsp;&nbsp;MGM Resorts International† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5294 | &nbsp;&nbsp;&nbsp;&nbsp; 192966 |
| **Machinery-Diversified — 0.9%** | **Machinery-Diversified — 0.9%** | **Machinery-Diversified — 0.9%** |
| &nbsp;&nbsp;&nbsp;Deere & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3702 | &nbsp;&nbsp;&nbsp;&nbsp; 1941218 |
| &nbsp;&nbsp;&nbsp;Dover Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp; 353223 |
| &nbsp;&nbsp;&nbsp;IDEX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1956 | &nbsp;&nbsp;&nbsp;&nbsp; 319826 |
| &nbsp;&nbsp;&nbsp;Nordson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1426 | &nbsp;&nbsp;&nbsp;&nbsp; 305463 |
| &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10361 | &nbsp;&nbsp;&nbsp;&nbsp; 887834 |
| &nbsp;&nbsp;&nbsp;Rockwell Automation, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2952 | &nbsp;&nbsp;&nbsp;&nbsp; 1038248 |
| &nbsp;&nbsp;&nbsp;Xylem, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6336 | &nbsp;&nbsp;&nbsp;&nbsp; 916312 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5762124 |
| **Media — 1.8%** | **Media — 1.8%** | **Media — 1.8%** |
| &nbsp;&nbsp;&nbsp;Charter Communications, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2519 | &nbsp;&nbsp;&nbsp;&nbsp; 678518 |
| &nbsp;&nbsp;&nbsp;Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;97465 | &nbsp;&nbsp;&nbsp;&nbsp; 3238762 |
| &nbsp;&nbsp;&nbsp;FactSet Research Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp;&nbsp;&nbsp; 215551 |
| &nbsp;&nbsp;&nbsp;Fox Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5614 | &nbsp;&nbsp;&nbsp;&nbsp; 313037 |
| &nbsp;&nbsp;&nbsp;Fox Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3467 | &nbsp;&nbsp;&nbsp;&nbsp; 177302 |
| &nbsp;&nbsp;&nbsp;News Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9941 | &nbsp;&nbsp;&nbsp;&nbsp; 291470 |
| &nbsp;&nbsp;&nbsp;News Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2935 | &nbsp;&nbsp;&nbsp;&nbsp; 98088 |
| &nbsp;&nbsp;&nbsp;Paramount Global, Class B | &nbsp;&nbsp;&nbsp;&nbsp;15643 | &nbsp;&nbsp;&nbsp;&nbsp; 196632 |
| &nbsp;&nbsp;&nbsp;Walt Disney Co. | &nbsp;&nbsp;&nbsp;&nbsp;47072 | &nbsp;&nbsp;&nbsp;&nbsp; 5606746 |
| &nbsp;&nbsp;&nbsp;Warner Bros. Discovery, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;59534 | &nbsp;&nbsp;&nbsp;&nbsp; 784063 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11600169 |
| **Mining — 0.5%** | **Mining — 0.5%** | **Mining — 0.5%** |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;37468 | &nbsp;&nbsp;&nbsp;&nbsp; 1507712 |
| &nbsp;&nbsp;&nbsp;Newmont Corp. | &nbsp;&nbsp;&nbsp;&nbsp;29059 | &nbsp;&nbsp;&nbsp;&nbsp; 1804564 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3312276 |
| **Miscellaneous Manufacturing — 0.7%** | **Miscellaneous Manufacturing — 0.7%** | **Miscellaneous Manufacturing — 0.7%** |
| &nbsp;&nbsp;&nbsp;3M Co. | &nbsp;&nbsp;&nbsp;&nbsp;14133 | &nbsp;&nbsp;&nbsp;&nbsp; 2108926 |
| &nbsp;&nbsp;&nbsp;A.O. Smith Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3105 | &nbsp;&nbsp;&nbsp;&nbsp; 219803 |
| &nbsp;&nbsp;&nbsp;Illinois Tool Works, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4117 | &nbsp;&nbsp;&nbsp;&nbsp; 1053829 |
| &nbsp;&nbsp;&nbsp;Teledyne Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1212 | &nbsp;&nbsp;&nbsp;&nbsp; 667836 |
| &nbsp;&nbsp;&nbsp;Textron, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4716 | &nbsp;&nbsp;&nbsp;&nbsp; 366763 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4417157 |
| **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp;Zebra Technologies Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743 | &nbsp;&nbsp;&nbsp;&nbsp; 251892 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Large Cap Value Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Oil & Gas — 5.1%** | **Oil & Gas — 5.1%** | **Oil & Gas — 5.1%** |
| &nbsp;&nbsp;&nbsp;APA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9727 | &nbsp;&nbsp;$187634 |
| &nbsp;&nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;50225 | &nbsp;&nbsp;&nbsp;&nbsp; 7616119 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;32960 | &nbsp;&nbsp;&nbsp;&nbsp; 3142406 |
| &nbsp;&nbsp;&nbsp;Coterra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20093 | &nbsp;&nbsp;&nbsp;&nbsp; 490068 |
| &nbsp;&nbsp;&nbsp;Devon Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17089 | &nbsp;&nbsp;&nbsp;&nbsp; 567697 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4868 | &nbsp;&nbsp;&nbsp;&nbsp; 723677 |
| &nbsp;&nbsp;&nbsp;EOG Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14416 | &nbsp;&nbsp;&nbsp;&nbsp; 1730208 |
| &nbsp;&nbsp;&nbsp;EQT Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15576 | &nbsp;&nbsp;&nbsp;&nbsp; 837210 |
| &nbsp;&nbsp;&nbsp;Expand Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5693 | &nbsp;&nbsp;&nbsp;&nbsp; 596513 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;112883 | &nbsp;&nbsp;&nbsp;&nbsp; 12602258 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8021 | &nbsp;&nbsp;&nbsp;&nbsp; 1365094 |
| &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;18500 | &nbsp;&nbsp;&nbsp;&nbsp; 812890 |
| &nbsp;&nbsp;&nbsp;Phillips 66 | &nbsp;&nbsp;&nbsp;&nbsp;10750 | &nbsp;&nbsp;&nbsp;&nbsp; 1328485 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8137 | &nbsp;&nbsp;&nbsp;&nbsp; 1117291 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;33117550 |
| **Oil & Gas Services — 0.5%** | **Oil & Gas Services — 0.5%** | **Oil & Gas Services — 0.5%** |
| &nbsp;&nbsp;&nbsp;Baker Hughes Co. | &nbsp;&nbsp;&nbsp;&nbsp;25866 | &nbsp;&nbsp;&nbsp;&nbsp; 1165263 |
| &nbsp;&nbsp;&nbsp;Halliburton Co. | &nbsp;&nbsp;&nbsp;&nbsp;22512 | &nbsp;&nbsp;&nbsp;&nbsp; 504269 |
| &nbsp;&nbsp;&nbsp;Schlumberger NV | &nbsp;&nbsp;&nbsp;&nbsp;39172 | &nbsp;&nbsp;&nbsp;&nbsp; 1324014 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2993546 |
| **Packaging & Containers — 0.3%** | **Packaging & Containers — 0.3%** | **Packaging & Containers — 0.3%** |
| &nbsp;&nbsp;&nbsp;Amcor PLC | &nbsp;&nbsp;&nbsp;&nbsp;59865 | &nbsp;&nbsp;&nbsp;&nbsp; 559738 |
| &nbsp;&nbsp;&nbsp;Ball Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7243 | &nbsp;&nbsp;&nbsp;&nbsp; 414734 |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1172 | &nbsp;&nbsp;&nbsp;&nbsp; 227075 |
| &nbsp;&nbsp;&nbsp;Smurfit WestRock PLC | &nbsp;&nbsp;&nbsp;&nbsp;12865 | &nbsp;&nbsp;&nbsp;&nbsp; 570949 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1772496 |
| **Pharmaceuticals — 5.7%** | **Pharmaceuticals — 5.7%** | **Pharmaceuticals — 5.7%** |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26840 | &nbsp;&nbsp;&nbsp;&nbsp; 5073297 |
| &nbsp;&nbsp;&nbsp;Becton Dickinson & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7475 | &nbsp;&nbsp;&nbsp;&nbsp; 1332419 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp;53335 | &nbsp;&nbsp;&nbsp;&nbsp; 2309939 |
| &nbsp;&nbsp;&nbsp;Cardinal Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6191 | &nbsp;&nbsp;&nbsp;&nbsp; 960967 |
| &nbsp;&nbsp;&nbsp;Cencora, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4560 | &nbsp;&nbsp;&nbsp;&nbsp; 1304525 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32879 | &nbsp;&nbsp;&nbsp;&nbsp; 2041786 |
| &nbsp;&nbsp;&nbsp;Dexcom, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5782 | &nbsp;&nbsp;&nbsp;&nbsp; 467012 |
| &nbsp;&nbsp;&nbsp;Henry Schein, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3291 | &nbsp;&nbsp;&nbsp;&nbsp; 222636 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;63020 | &nbsp;&nbsp;&nbsp;&nbsp; 10381915 |
| &nbsp;&nbsp;&nbsp;McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3268 | &nbsp;&nbsp;&nbsp;&nbsp; 2266489 |
| &nbsp;&nbsp;&nbsp;Merck & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;65780 | &nbsp;&nbsp;&nbsp;&nbsp; 5138733 |
| &nbsp;&nbsp;&nbsp;Pfizer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;149031 | &nbsp;&nbsp;&nbsp;&nbsp; 3470932 |
| &nbsp;&nbsp;&nbsp;Viatris, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31382 | &nbsp;&nbsp;&nbsp;&nbsp; 274279 |
| &nbsp;&nbsp;&nbsp;Zoetis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11684 | &nbsp;&nbsp;&nbsp;&nbsp; 1703410 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;36948339 |
| **Pipelines — 0.4%** | **Pipelines — 0.4%** | **Pipelines — 0.4%** |
| &nbsp;&nbsp;&nbsp;Kinder Morgan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;50380 | &nbsp;&nbsp;&nbsp;&nbsp; 1413663 |
| &nbsp;&nbsp;&nbsp;ONEOK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7341 | &nbsp;&nbsp;&nbsp;&nbsp; 602770 |
| &nbsp;&nbsp;&nbsp;Williams Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15276 | &nbsp;&nbsp;&nbsp;&nbsp; 915796 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2932229 |
| **Private Equity — 0.7%** | **Private Equity — 0.7%** | **Private Equity — 0.7%** |
| &nbsp;&nbsp;&nbsp;Blackstone, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19102 | &nbsp;&nbsp;&nbsp;&nbsp; 3303882 |
| &nbsp;&nbsp;&nbsp;KKR & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9972 | &nbsp;&nbsp;&nbsp;&nbsp; 1461696 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4765578 |
| **Real Estate — 0.2%** | **Real Estate — 0.2%** | **Real Estate — 0.2%** |
| &nbsp;&nbsp;&nbsp;CoStar Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10998 | &nbsp;&nbsp;&nbsp;&nbsp; 1046900 |
| **REITS — 2.9%** | **REITS — 2.9%** | **REITS — 2.9%** |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4050 | &nbsp;&nbsp;&nbsp;&nbsp; 309542 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12270 | &nbsp;&nbsp;&nbsp;&nbsp; 2556945 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2157 | &nbsp;&nbsp;&nbsp;&nbsp; 401806 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **REITS (continued)** | **REITS (continued)** | **REITS (continued)** |
| &nbsp;&nbsp;&nbsp;BXP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3826 | &nbsp;&nbsp;$250335 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1374 | &nbsp;&nbsp;&nbsp;&nbsp; 150041 |
| &nbsp;&nbsp;&nbsp;Crown Castle, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11364 | &nbsp;&nbsp;&nbsp;&nbsp; 1194243 |
| &nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8355 | &nbsp;&nbsp;&nbsp;&nbsp; 1474156 |
| &nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1348 | &nbsp;&nbsp;&nbsp;&nbsp; 1058409 |
| &nbsp;&nbsp;&nbsp;Equity Residential | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8894 | &nbsp;&nbsp;&nbsp;&nbsp; 562101 |
| &nbsp;&nbsp;&nbsp;Essex Property Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878 | &nbsp;&nbsp;&nbsp;&nbsp; 228438 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3023 | &nbsp;&nbsp;&nbsp;&nbsp; 406170 |
| &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2027 | &nbsp;&nbsp;&nbsp;&nbsp; 186808 |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18030 | &nbsp;&nbsp;&nbsp;&nbsp; 305428 |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6800 | &nbsp;&nbsp;&nbsp;&nbsp; 106896 |
| &nbsp;&nbsp;&nbsp;Invitation Homes, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14795 | &nbsp;&nbsp;&nbsp;&nbsp; 453467 |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17568 | &nbsp;&nbsp;&nbsp;&nbsp; 372969 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartment Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1773 | &nbsp;&nbsp;&nbsp;&nbsp; 252528 |
| &nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24350 | &nbsp;&nbsp;&nbsp;&nbsp; 2600093 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23578 | &nbsp;&nbsp;&nbsp;&nbsp; 1323433 |
| &nbsp;&nbsp;&nbsp;Regency Centers Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4291 | &nbsp;&nbsp;&nbsp;&nbsp; 306378 |
| &nbsp;&nbsp;&nbsp;SBA Communications Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp; 629216 |
| &nbsp;&nbsp;&nbsp;UDR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4353 | &nbsp;&nbsp;&nbsp;&nbsp; 171029 |
| &nbsp;&nbsp;&nbsp;Ventas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11829 | &nbsp;&nbsp;&nbsp;&nbsp; 794672 |
| &nbsp;&nbsp;&nbsp;VICI Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28103 | &nbsp;&nbsp;&nbsp;&nbsp; 916158 |
| &nbsp;&nbsp;&nbsp;Welltower, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7486 | &nbsp;&nbsp;&nbsp;&nbsp; 1235714 |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser Co. | &nbsp;&nbsp;&nbsp;&nbsp;18840 | &nbsp;&nbsp;&nbsp;&nbsp; 471942 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;18718917 |
| **Retail — 4.5%** | **Retail — 4.5%** | **Retail — 4.5%** |
| &nbsp;&nbsp;&nbsp;Best Buy Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5025 | &nbsp;&nbsp;&nbsp;&nbsp; 326927 |
| &nbsp;&nbsp;&nbsp;CarMax, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4044 | &nbsp;&nbsp;&nbsp;&nbsp; 228931 |
| &nbsp;&nbsp;&nbsp;Darden Restaurants, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1727 | &nbsp;&nbsp;&nbsp;&nbsp; 348284 |
| &nbsp;&nbsp;&nbsp;Dollar General Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5726 | &nbsp;&nbsp;&nbsp;&nbsp; 600657 |
| &nbsp;&nbsp;&nbsp;Dollar Tree, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5224 | &nbsp;&nbsp;&nbsp;&nbsp; 593185 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526 | &nbsp;&nbsp;&nbsp;&nbsp; 243649 |
| &nbsp;&nbsp;&nbsp;Genuine Parts Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3607 | &nbsp;&nbsp;&nbsp;&nbsp; 464870 |
| &nbsp;&nbsp;&nbsp;Home Depot, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14561 | &nbsp;&nbsp;&nbsp;&nbsp; 5351313 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14651 | &nbsp;&nbsp;&nbsp;&nbsp; 3275524 |
| &nbsp;&nbsp;&nbsp;Lululemon Athletica, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1571 | &nbsp;&nbsp;&nbsp;&nbsp; 315033 |
| &nbsp;&nbsp;&nbsp;McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;18716 | &nbsp;&nbsp;&nbsp;&nbsp; 5616110 |
| &nbsp;&nbsp;&nbsp;Ross Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8589 | &nbsp;&nbsp;&nbsp;&nbsp; 1172742 |
| &nbsp;&nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;&nbsp;&nbsp;29824 | &nbsp;&nbsp;&nbsp;&nbsp; 2659108 |
| &nbsp;&nbsp;&nbsp;Target Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11980 | &nbsp;&nbsp;&nbsp;&nbsp; 1203990 |
| &nbsp;&nbsp;&nbsp;TJX Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12021 | &nbsp;&nbsp;&nbsp;&nbsp; 1496975 |
| &nbsp;&nbsp;&nbsp;Tractor Supply Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6461 | &nbsp;&nbsp;&nbsp;&nbsp; 367954 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1202 | &nbsp;&nbsp;&nbsp;&nbsp; 619042 |
| &nbsp;&nbsp;&nbsp;Walgreens Boots Alliance, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18858 | &nbsp;&nbsp;&nbsp;&nbsp; 219507 |
| &nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;37340 | &nbsp;&nbsp;&nbsp;&nbsp; 3658573 |
| &nbsp;&nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4285 | &nbsp;&nbsp;&nbsp;&nbsp; 617683 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;29380057 |
| **Semiconductors — 5.0%** | **Semiconductors — 5.0%** | **Semiconductors — 5.0%** |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;42463 | &nbsp;&nbsp;&nbsp;&nbsp; 7486651 |
| &nbsp;&nbsp;&nbsp;Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13020 | &nbsp;&nbsp;&nbsp;&nbsp; 2924683 |
| &nbsp;&nbsp;&nbsp;Applied Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12292 | &nbsp;&nbsp;&nbsp;&nbsp; 2213297 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;114262 | &nbsp;&nbsp;&nbsp;&nbsp; 2262388 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;33506 | &nbsp;&nbsp;&nbsp;&nbsp; 3177709 |
| &nbsp;&nbsp;&nbsp;Microchip Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14037 | &nbsp;&nbsp;&nbsp;&nbsp; 948761 |
| &nbsp;&nbsp;&nbsp;Micron Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;29277 | &nbsp;&nbsp;&nbsp;&nbsp; 3195292 |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3978 | &nbsp;&nbsp;&nbsp;&nbsp; 850377 |
| &nbsp;&nbsp;&nbsp;ON Semiconductor Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;10956 | &nbsp;&nbsp;&nbsp;&nbsp; 617480 |
| &nbsp;&nbsp;&nbsp;QUALCOMM, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28752 | &nbsp;&nbsp;&nbsp;&nbsp; 4219643 |
| &nbsp;&nbsp;&nbsp;Skyworks Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3920 | &nbsp;&nbsp;&nbsp;&nbsp; 268677 |
| &nbsp;&nbsp;&nbsp;Teradyne, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4206 | &nbsp;&nbsp;&nbsp;&nbsp; 451851 |
| &nbsp;&nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23798 | &nbsp;&nbsp;&nbsp;&nbsp; 4308866 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;32925675 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Large Cap Value Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Shipbuilding — 0.0%** | **Shipbuilding — 0.0%** | **Shipbuilding — 0.0%** |
| &nbsp;&nbsp;&nbsp;Huntington Ingalls Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1029 | &nbsp;&nbsp;$286947 |
| **Software — 9.4%** | **Software — 9.4%** | **Software — 9.4%** |
| &nbsp;&nbsp;&nbsp;Adobe, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6454 | &nbsp;&nbsp;&nbsp;&nbsp; 2308531 |
| &nbsp;&nbsp;&nbsp;Akamai Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3708 | &nbsp;&nbsp;&nbsp;&nbsp; 282958 |
| &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1777 | &nbsp;&nbsp;&nbsp;&nbsp; 439825 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3225 | &nbsp;&nbsp;&nbsp;&nbsp; 1175738 |
| &nbsp;&nbsp;&nbsp;Electronic Arts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3574 | &nbsp;&nbsp;&nbsp;&nbsp; 544999 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13852 | &nbsp;&nbsp;&nbsp;&nbsp; 1099987 |
| &nbsp;&nbsp;&nbsp;Jack Henry & Associates, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1115 | &nbsp;&nbsp;&nbsp;&nbsp; 189344 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;93429 | &nbsp;&nbsp;&nbsp;&nbsp; 49844372 |
| &nbsp;&nbsp;&nbsp;Paychex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4427 | &nbsp;&nbsp;&nbsp;&nbsp; 638949 |
| &nbsp;&nbsp;&nbsp;PTC, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1676 | &nbsp;&nbsp;&nbsp;&nbsp; 360022 |
| &nbsp;&nbsp;&nbsp;Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2796 | &nbsp;&nbsp;&nbsp;&nbsp; 1538918 |
| &nbsp;&nbsp;&nbsp;Synopsys, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2368 | &nbsp;&nbsp;&nbsp;&nbsp; 1500057 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4426 | &nbsp;&nbsp;&nbsp;&nbsp; 985803 |
| &nbsp;&nbsp;&nbsp;Workday, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3039 | &nbsp;&nbsp;&nbsp;&nbsp; 697086 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;61606589 |
| **Telecommunications — 3.0%** | **Telecommunications — 3.0%** | **Telecommunications — 3.0%** |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;188348 | &nbsp;&nbsp;&nbsp;&nbsp; 5162618 |
| &nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;104199 | &nbsp;&nbsp;&nbsp;&nbsp; 7093868 |
| &nbsp;&nbsp;&nbsp;Corning, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20138 | &nbsp;&nbsp;&nbsp;&nbsp; 1273527 |
| &nbsp;&nbsp;&nbsp;T-Mobile US, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5878 | &nbsp;&nbsp;&nbsp;&nbsp; 1401374 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;110397 | &nbsp;&nbsp;&nbsp;&nbsp; 4720576 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;19651963 |
| **Toys/Games/Hobbies — 0.0%** | **Toys/Games/Hobbies — 0.0%** | **Toys/Games/Hobbies — 0.0%** |
| &nbsp;&nbsp;&nbsp;Hasbro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3447 | &nbsp;&nbsp;&nbsp;&nbsp; 259077 |
| **Transportation — 1.6%** | **Transportation — 1.6%** | **Transportation — 1.6%** |
| &nbsp;&nbsp;&nbsp;C.H. Robinson Worldwide, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3121 | &nbsp;&nbsp;&nbsp;&nbsp; 359914 |
| &nbsp;&nbsp;&nbsp;CSX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26485 | &nbsp;&nbsp;&nbsp;&nbsp; 941277 |
| &nbsp;&nbsp;&nbsp;Expeditors International of Washington, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3625 | &nbsp;&nbsp;&nbsp;&nbsp; 421370 |
| &nbsp;&nbsp;&nbsp;FedEx Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5771 | &nbsp;&nbsp;&nbsp;&nbsp; 1289761 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Transportation (continued)** | **Transportation (continued)** |  |
| &nbsp;&nbsp;&nbsp;JB Hunt Transport Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2088 | &nbsp;&nbsp;$300776 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5897 | &nbsp;&nbsp;&nbsp;&nbsp; 1639366 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2628 | &nbsp;&nbsp;&nbsp;&nbsp; 392229 |
| &nbsp;&nbsp;&nbsp;Union Pacific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15631 | &nbsp;&nbsp;&nbsp;&nbsp; 3469613 |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;19266 | &nbsp;&nbsp;&nbsp;&nbsp; 1659958 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10474264 |
| **Water — 0.1%** | **Water — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;American Water Works Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5079 | &nbsp;&nbsp;&nbsp;&nbsp; 712279 |
| **Total Common Stocks<br> (cost $609,577,645)** |  | &nbsp;&nbsp;&nbsp;&nbsp;646144106 |
| **UNAFFILIATED INVESTMENT COMPANIES — 0.8%** | **UNAFFILIATED INVESTMENT COMPANIES — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;iShares S&P 500 Value ETF<br> (cost $4,950,260) | &nbsp;&nbsp;&nbsp;&nbsp;26062 | &nbsp;&nbsp;&nbsp;&nbsp; 5133693 |
| **Total Long-Term Investment Securities<br> (cost $614,527,905)** |  | &nbsp;&nbsp;&nbsp;&nbsp;651277799 |
| **SHORT-TERM INVESTMENTS — 0.2%** | **SHORT-TERM INVESTMENTS — 0.2%** |  |
| **Unaffiliated Investment Companies — 0.2%** | **Unaffiliated Investment Companies — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(1)<br> (cost $1,341,525) | 1341524 | &nbsp;&nbsp;&nbsp;&nbsp; 1341525 |
| **TOTAL INVESTMENTS<br> (cost $615,869,430)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;&nbsp;&nbsp;652619324 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149095 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$652768419 |

---

† Non-income producing security

(1) The rate shown is the 7-day yield as of July 31, 2025.

(2) See Note 4 for cost of investments on a tax basis.

ETF—Exchange Traded Fund

#### Futures Contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number<br> of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Expiration<br> Month** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Basis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Value\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation** |
| 17 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;Micro E-mini S&P 500 Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$539383 | &nbsp;&nbsp;&nbsp;&nbsp;$541812 | &nbsp;&nbsp;&nbsp;&nbsp;$2429 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
| 13.0 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;E-Mini Russell 1000 Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$1262861 | &nbsp;&nbsp;&nbsp;&nbsp;$1253915 | &nbsp;&nbsp;&nbsp;&nbsp;$(8946) |
|  |  | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) |  | &nbsp;&nbsp;&nbsp;&nbsp;$(6517) |

---

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

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Large Cap Value Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$646144106 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$646144106 |
| Unaffiliated Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5133693 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5133693 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1341525 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1341525 |
| **Total Investments at Value** | &nbsp;&nbsp;$652619324 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$652619324 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;$2429 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$2429 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;$8946 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$8946 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | &nbsp;&nbsp;Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA MFS Large Cap Growth Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.4%** | **COMMON STOCKS — 99.4%** | **COMMON STOCKS — 99.4%** |
| **Aerospace/Defense — 1.7%** | **Aerospace/Defense — 1.7%** | **Aerospace/Defense — 1.7%** |
| &nbsp;&nbsp;&nbsp;Curtiss-Wright Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8770 | &nbsp;&nbsp;$4299229 |
| &nbsp;&nbsp;&nbsp;General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;&nbsp; 10029960 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14329189 |
| **Apparel — 1.1%** | **Apparel — 1.1%** | **Apparel — 1.1%** |
| &nbsp;&nbsp;&nbsp;Tapestry, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52782 | &nbsp;&nbsp;&nbsp;&nbsp; 5702039 |
| &nbsp;&nbsp;&nbsp;VF Corp. | &nbsp;&nbsp;&nbsp;&nbsp;278097 | &nbsp;&nbsp;&nbsp;&nbsp; 3259297 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8961336 |
| **Applications Software — 0.1%** | **Applications Software — 0.1%** | **Applications Software — 0.1%** |
| &nbsp;&nbsp;&nbsp;Stripe, Inc., Class B(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;10760 | &nbsp;&nbsp;&nbsp;&nbsp; 381980 |
| **Auto Manufacturers — 1.7%** | **Auto Manufacturers — 1.7%** | **Auto Manufacturers — 1.7%** |
| &nbsp;&nbsp;&nbsp;Tesla, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;48262 | &nbsp;&nbsp;&nbsp;&nbsp; 14877727 |
| **Banks — 2.2%** | **Banks — 2.2%** | **Banks — 2.2%** |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;41782 | &nbsp;&nbsp;&nbsp;&nbsp; 3914974 |
| &nbsp;&nbsp;&nbsp;Northern Trust Corp. | &nbsp;&nbsp;&nbsp;&nbsp;74799 | &nbsp;&nbsp;&nbsp;&nbsp; 9723870 |
| &nbsp;&nbsp;&nbsp;Popular, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46169 | &nbsp;&nbsp;&nbsp;&nbsp; 5290044 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;18928888 |
| **Biotechnology — 0.5%** | **Biotechnology — 0.5%** | **Biotechnology — 0.5%** |
| &nbsp;&nbsp;&nbsp;Incyte Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;31774 | &nbsp;&nbsp;&nbsp;&nbsp; 2379555 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4588 | &nbsp;&nbsp;&nbsp;&nbsp; 2096120 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4475675 |
| **Building Materials — 1.2%** | **Building Materials — 1.2%** | **Building Materials — 1.2%** |
| &nbsp;&nbsp;&nbsp;Builders FirstSource, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;34150 | &nbsp;&nbsp;&nbsp;&nbsp; 4341490 |
| &nbsp;&nbsp;&nbsp;Trane Technologies PLC | &nbsp;&nbsp;&nbsp;&nbsp;13362 | &nbsp;&nbsp;&nbsp;&nbsp; 5853625 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10195115 |
| **Chemicals — 0.1%** | **Chemicals — 0.1%** | **Chemicals — 0.1%** |
| &nbsp;&nbsp;&nbsp;RPM International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10002 | &nbsp;&nbsp;&nbsp;&nbsp; 1174335 |
| **Commercial Services — 1.0%** | **Commercial Services — 1.0%** | **Commercial Services — 1.0%** |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31178 | &nbsp;&nbsp;&nbsp;&nbsp; 8689620 |
| **Computer Graphics — 0.0%** | **Computer Graphics — 0.0%** | **Computer Graphics — 0.0%** |
| &nbsp;&nbsp;&nbsp;Canva, Inc.†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp; 295644 |
| **Computers — 10.5%** | **Computers — 10.5%** | **Computers — 10.5%** |
| &nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;370940 | &nbsp;&nbsp;&nbsp;&nbsp; 76996016 |
| &nbsp;&nbsp;&nbsp;Leidos Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31307 | &nbsp;&nbsp;&nbsp;&nbsp; 4998162 |
| &nbsp;&nbsp;&nbsp;Okta, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;81896 | &nbsp;&nbsp;&nbsp;&nbsp; 8009429 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;90003607 |
| **Cosmetics/Personal Care — 0.6%** | **Cosmetics/Personal Care — 0.6%** | **Cosmetics/Personal Care — 0.6%** |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | &nbsp;&nbsp;&nbsp;&nbsp;59066 | &nbsp;&nbsp;&nbsp;&nbsp; 4952684 |
| **Diversified Financial Services — 3.9%** | **Diversified Financial Services — 3.9%** | **Diversified Financial Services — 3.9%** |
| &nbsp;&nbsp;&nbsp;American Express Co. | &nbsp;&nbsp;&nbsp;&nbsp;15448 | &nbsp;&nbsp;&nbsp;&nbsp; 4623741 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18810 | &nbsp;&nbsp;&nbsp;&nbsp; 9747154 |
| &nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;15550 | &nbsp;&nbsp;&nbsp;&nbsp; 8808608 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp;35537 | &nbsp;&nbsp;&nbsp;&nbsp; 2475863 |
| &nbsp;&nbsp;&nbsp;Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;23656 | &nbsp;&nbsp;&nbsp;&nbsp; 8172438 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;33827804 |
| **Electric — 0.3%** | **Electric — 0.3%** | **Electric — 0.3%** |
| &nbsp;&nbsp;&nbsp;NRG Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15815 | &nbsp;&nbsp;&nbsp;&nbsp; 2644268 |
| **Electronics — 0.7%** | **Electronics — 0.7%** | **Electronics — 0.7%** |
| &nbsp;&nbsp;&nbsp;Amphenol Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;57457 | &nbsp;&nbsp;&nbsp;&nbsp; 6119745 |
| **Entertainment — 0.2%** | **Entertainment — 0.2%** | **Entertainment — 0.2%** |
| &nbsp;&nbsp;&nbsp;DraftKings, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;38451 | &nbsp;&nbsp;&nbsp;&nbsp; 1731833 |
| **Entertainment Software — 0.1%** | **Entertainment Software — 0.1%** | **Entertainment Software — 0.1%** |
| &nbsp;&nbsp;&nbsp;Epic Games, Inc.(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1787 | &nbsp;&nbsp;&nbsp;&nbsp; 1087577 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Healthcare-Services — 1.4%** | **Healthcare-Services — 1.4%** | **Healthcare-Services — 1.4%** |
| &nbsp;&nbsp;&nbsp;Cigna Group | &nbsp;&nbsp;&nbsp;&nbsp;13044 | &nbsp;&nbsp;$3487705 |
| &nbsp;&nbsp;&nbsp;Humana, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11185 | &nbsp;&nbsp;&nbsp;&nbsp; 2794796 |
| &nbsp;&nbsp;&nbsp;IQVIA Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;30307 | &nbsp;&nbsp;&nbsp;&nbsp; 5632859 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11915360 |
| **Household Products/Wares — 0.5%** | **Household Products/Wares — 0.5%** | **Household Products/Wares — 0.5%** |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;32994 | &nbsp;&nbsp;&nbsp;&nbsp; 4111712 |
| **Insurance — 1.2%** | **Insurance — 1.2%** | **Insurance — 1.2%** |
| &nbsp;&nbsp;&nbsp;Equitable Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;194878 | &nbsp;&nbsp;&nbsp;&nbsp; 10006985 |
| **Internet — 19.3%** | **Internet — 19.3%** | **Internet — 19.3%** |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;82455 | &nbsp;&nbsp;&nbsp;&nbsp; 15823115 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;78206 | &nbsp;&nbsp;&nbsp;&nbsp; 15082809 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;244638 | &nbsp;&nbsp;&nbsp;&nbsp; 57272202 |
| &nbsp;&nbsp;&nbsp;Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2072 | &nbsp;&nbsp;&nbsp;&nbsp; 11404412 |
| &nbsp;&nbsp;&nbsp;Expedia Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20184 | &nbsp;&nbsp;&nbsp;&nbsp; 3637561 |
| &nbsp;&nbsp;&nbsp;GoDaddy, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;19632 | &nbsp;&nbsp;&nbsp;&nbsp; 3172139 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;50545 | &nbsp;&nbsp;&nbsp;&nbsp; 39093525 |
| &nbsp;&nbsp;&nbsp;Netflix, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4610 | &nbsp;&nbsp;&nbsp;&nbsp; 5344834 |
| &nbsp;&nbsp;&nbsp;Spotify Technology SA† | &nbsp;&nbsp;&nbsp;&nbsp;18808 | &nbsp;&nbsp;&nbsp;&nbsp; 11783964 |
| &nbsp;&nbsp;&nbsp;Uber Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;29299 | &nbsp;&nbsp;&nbsp;&nbsp; 2570987 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;165185548 |
| **Leisure Time — 1.0%** | **Leisure Time — 1.0%** | **Leisure Time — 1.0%** |
| &nbsp;&nbsp;&nbsp;Viking Holdings, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;151310 | &nbsp;&nbsp;&nbsp;&nbsp; 8884923 |
| **Machinery-Diversified — 0.7%** | **Machinery-Diversified — 0.7%** | **Machinery-Diversified — 0.7%** |
| &nbsp;&nbsp;&nbsp;Flowserve Corp. | &nbsp;&nbsp;&nbsp;&nbsp;31507 | &nbsp;&nbsp;&nbsp;&nbsp; 1765652 |
| &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;20956 | &nbsp;&nbsp;&nbsp;&nbsp; 4024600 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5790252 |
| **Pharmaceuticals — 3.0%** | **Pharmaceuticals — 3.0%** | **Pharmaceuticals — 3.0%** |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31735 | &nbsp;&nbsp;&nbsp;&nbsp; 5998550 |
| &nbsp;&nbsp;&nbsp;Dexcom, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10230 | &nbsp;&nbsp;&nbsp;&nbsp; 826277 |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;11432 | &nbsp;&nbsp;&nbsp;&nbsp; 8460480 |
| &nbsp;&nbsp;&nbsp;McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7619 | &nbsp;&nbsp;&nbsp;&nbsp; 5284081 |
| &nbsp;&nbsp;&nbsp;Pfizer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;232027 | &nbsp;&nbsp;&nbsp;&nbsp; 5403909 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;25973297 |
| **REITS — 0.6%** | **REITS — 0.6%** | **REITS — 0.6%** |
| &nbsp;&nbsp;&nbsp;Lamar Advertising Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;40755 | &nbsp;&nbsp;&nbsp;&nbsp; 4982299 |
| **Retail — 2.0%** | **Retail — 2.0%** | **Retail — 2.0%** |
| &nbsp;&nbsp;&nbsp;Carvana Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7320 | &nbsp;&nbsp;&nbsp;&nbsp; 2856044 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3572 | &nbsp;&nbsp;&nbsp;&nbsp; 3356394 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;108721 | &nbsp;&nbsp;&nbsp;&nbsp; 10689449 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;16901887 |
| **Semiconductors — 20.0%** | **Semiconductors — 20.0%** | **Semiconductors — 20.0%** |
| &nbsp;&nbsp;&nbsp;Applied Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9465 | &nbsp;&nbsp;&nbsp;&nbsp; 1704268 |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;90714 | &nbsp;&nbsp;&nbsp;&nbsp; 26642702 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;124743 | &nbsp;&nbsp;&nbsp;&nbsp; 11830626 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;688732 | &nbsp;&nbsp;&nbsp;&nbsp;122504761 |
| &nbsp;&nbsp;&nbsp;QUALCOMM, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;59690 | &nbsp;&nbsp;&nbsp;&nbsp; 8760104 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;171442461 |
| **Software — 22.6%** | **Software — 22.6%** | **Software — 22.6%** |
| &nbsp;&nbsp;&nbsp;AppLovin Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;22111 | &nbsp;&nbsp;&nbsp;&nbsp; 8638768 |
| &nbsp;&nbsp;&nbsp;Atlassian Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;37783 | &nbsp;&nbsp;&nbsp;&nbsp; 7246024 |
| &nbsp;&nbsp;&nbsp;Autodesk, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;29801 | &nbsp;&nbsp;&nbsp;&nbsp; 9032981 |
| &nbsp;&nbsp;&nbsp;Datadog, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;21763 | &nbsp;&nbsp;&nbsp;&nbsp; 3046385 |
| &nbsp;&nbsp;&nbsp;Dropbox, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;231800 | &nbsp;&nbsp;&nbsp;&nbsp; 6298006 |
| &nbsp;&nbsp;&nbsp;Guidewire Software, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;38948 | &nbsp;&nbsp;&nbsp;&nbsp; 8810817 |
| &nbsp;&nbsp;&nbsp;HubSpot, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3491 | &nbsp;&nbsp;&nbsp;&nbsp; 1814098 |
| &nbsp;&nbsp;&nbsp;Magic Leap, Inc., Class A(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2188 | &nbsp;&nbsp;&nbsp;&nbsp; 1050 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA MFS Large Cap Growth Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;200102 | &nbsp;&nbsp;$106754417 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;10792 | &nbsp;&nbsp;&nbsp;&nbsp; 1708913 |
| &nbsp;&nbsp;&nbsp;Pegasystems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;62233 | &nbsp;&nbsp;&nbsp;&nbsp; 3653699 |
| &nbsp;&nbsp;&nbsp;ROBLOX Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;56304 | &nbsp;&nbsp;&nbsp;&nbsp; 7758128 |
| &nbsp;&nbsp;&nbsp;Salesforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19583 | &nbsp;&nbsp;&nbsp;&nbsp; 5058876 |
| &nbsp;&nbsp;&nbsp;ServiceNow, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;15049 | &nbsp;&nbsp;&nbsp;&nbsp; 14193013 |
| &nbsp;&nbsp;&nbsp;Veeva Systems, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;36009 | &nbsp;&nbsp;&nbsp;&nbsp; 10233758 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;194248933 |
| **Telecommunications — 1.2%** | **Telecommunications — 1.2%** | **Telecommunications — 1.2%** |
| &nbsp;&nbsp;&nbsp;Arista Networks, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;85404 | &nbsp;&nbsp;&nbsp;&nbsp; 10523481 |
| **Total Common Stocks<br> (cost $559,626,478)** |  | &nbsp;&nbsp;&nbsp;&nbsp;852644165 |
| **CONVERTIBLE PREFERRED STOCKS — 0.2%** | **CONVERTIBLE PREFERRED STOCKS — 0.2%** | **CONVERTIBLE PREFERRED STOCKS — 0.2%** |
| **Automotive - Cars & Lt. Trucks — 0.0%** | **Automotive - Cars & Lt. Trucks — 0.0%** | **Automotive - Cars & Lt. Trucks — 0.0%** |
| &nbsp;&nbsp;&nbsp;Waymo LLC<br> Series A-2†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4915 | &nbsp;&nbsp;&nbsp;&nbsp; 362309 |
| **Computer Graphics — 0.0%** | **Computer Graphics — 0.0%** | **Computer Graphics — 0.0%** |
| &nbsp;&nbsp;&nbsp;Canva, Inc.<br> Series A †(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp; 34377 |
| &nbsp;&nbsp;&nbsp;Canva, Inc.<br> Series A-3†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp; 6876 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41253 |
| **Computer Software — 0.0%** | **Computer Software — 0.0%** | **Computer Software — 0.0%** |
| &nbsp;&nbsp;&nbsp;Formagrid, Inc.<br> Series F†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2702 | &nbsp;&nbsp;&nbsp;&nbsp; 148610 |
| **E-Commerce/Services — 0.0%** | **E-Commerce/Services — 0.0%** | **E-Commerce/Services — 0.0%** |
| &nbsp;&nbsp;&nbsp;Rappi, Inc.<br> Series E †(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9191 | &nbsp;&nbsp;&nbsp;&nbsp; 295736 |
| **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp;Sila Nanotechnologies, Inc.<br> Series F†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8833 | &nbsp;&nbsp;&nbsp;&nbsp; 146407 |
| **Industrial Automation/Robotics — 0.1%** | **Industrial Automation/Robotics — 0.1%** | **Industrial Automation/Robotics — 0.1%** |
| &nbsp;&nbsp;&nbsp;Nuro, Inc.<br> Series C †(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;47284 | &nbsp;&nbsp;&nbsp;&nbsp; 604999 |
| &nbsp;&nbsp;&nbsp;Nuro, Inc.<br> Series D †(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;10245 | &nbsp;&nbsp;&nbsp;&nbsp; 131904 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736903 |
| **Recycling — 0.1%** | **Recycling — 0.1%** | **Recycling — 0.1%** |
| &nbsp;&nbsp;&nbsp;Redwood Materials, Inc.<br> Series C†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9878 | &nbsp;&nbsp;&nbsp;&nbsp; 444510 |
| **Software — 0.0%** | **Software — 0.0%** | **Software — 0.0%** |
| &nbsp;&nbsp;&nbsp;Celonis SE<br> Series D†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;&nbsp; 12978 |
| **Total Convertible Preferred Stocks<br> (cost $3,261,134)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2188706 |
| **Total Long-Term Investment Securities<br> (cost $562,887,612)** |  | &nbsp;&nbsp;&nbsp;&nbsp;854832871 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **SHORT-TERM INVESTMENTS — 0.5%** | **SHORT-TERM INVESTMENTS — 0.5%** |  |
| **U.S. Government Agency — 0.5%** | **U.S. Government Agency — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Bank Disc. Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.18%, 08/01/2025<br> (cost $3,983,000) | $3983000 | &nbsp;&nbsp;$3982531 |
| **TOTAL INVESTMENTS<br> (cost $566,870,612)(3)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.1% | &nbsp;&nbsp;&nbsp;&nbsp;858815402 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(866193) |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$857949209 |

---

---

| | |
|:---|:---|
| ^ | &nbsp;&nbsp;Prior to April 28, 2025, the Portfolio was known as SA MFS Blue Chip Growth Portfolio. |
| † | &nbsp;&nbsp;Non-income producing security |
| (1) | &nbsp;&nbsp;Securities classified as Level 3 (see Note 2). |
| (2) | &nbsp;&nbsp;Denotes a restricted security that: (a) cannot be offered for public sale without first being registered, or being able to take advantage of an exemption from registration, under the Securities Act of 1933, as amended (the "1933 Act"); (b) is subject to a contractual restriction on public sales; or (c) is otherwise subject to a restriction on sales by operation of applicable law. Restricted securities are valued pursuant to Note 2. Certain restricted securities held by the Portfolio may not be sold except in exempt transactions or in a public offering registered under the 1933 Act. The Portfolio has no right to demand registration of these securities. The risk of investing in certain restricted securities is greater than the risk of investing in the securities of widely held, publicly traded companies. To the extent applicable, lack of a secondary market and resale restrictions may result in the inability of a Portfolio to sell a security at a fair price and may substantially delay the sale of the security. In addition, certain restricted securities may exhibit greater price volatility than securities for which secondary markets exist. As of July 31, 2025, the Portfolio held the following restricted securities: |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition<br> Date** | **Shares or<br> Principal<br> Amount** | **Acquisition<br> Cost** | **Value** | **Value<br> Per Share** | **% of<br> Net Assets** |
| **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** |
| Canva, Inc. |  |  |  |  |  |  |
|  | 12/17/2021 | &nbsp;&nbsp;&nbsp;&nbsp;125 | $213020 |  |  |  |
|  | 12/22/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;153375 |  |  |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;366395 | $295644 | $1704.16 | 0.0% |
| Epic Games, Inc. |  |  |  |  |  |  |
|  | 06/18/2020 | &nbsp;&nbsp;1331 | &nbsp;&nbsp;&nbsp;766241 |  |  |  |
|  | 03/29/2021 | &nbsp;&nbsp;&nbsp;&nbsp;456 | &nbsp;&nbsp;&nbsp;403873 |  |  |  |
|  |  | &nbsp;&nbsp;1787 | 1170114 | &nbsp;&nbsp;1087577 | &nbsp;&nbsp;&nbsp;&nbsp;654.79 | 0.2 |
| Magic Leap, Inc., Class A |  |  |  |  |  |  |
|  | 01/20/2016 | &nbsp;&nbsp;1263 | &nbsp;&nbsp;&nbsp;614197 |  |  |  |
|  | 10/12/2017 | &nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp;&nbsp;450306 |  |  |  |
|  |  | &nbsp;&nbsp;2188 | 1064503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050 | &nbsp;&nbsp;&nbsp;&nbsp;486.52 | 0.0 |
| Stripe, Inc., Class B | 12/17/2019 | 10760 | &nbsp;&nbsp;&nbsp;168824 | &nbsp;&nbsp;&nbsp;&nbsp;381980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.69 | 0.1 |
| **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** |
| Canva, Inc.<br> Series A | 12/17/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;42604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34377 | &nbsp;&nbsp;1704.16 | 0.0 |
| Canva, Inc.<br> Series A-3 | 12/17/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6876 | &nbsp;&nbsp;1704.16 | 0.0 |
| Celonis SE<br> Series D | 10/04/2022 | &nbsp;&nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;&nbsp;69150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12978 | &nbsp;&nbsp;&nbsp;&nbsp;369.79 | 0.0 |
| Formagrid, Inc.<br> Series F | 12/08/2021 | &nbsp;&nbsp;2702 | &nbsp;&nbsp;&nbsp;506043 | &nbsp;&nbsp;&nbsp;&nbsp;148610 | &nbsp;&nbsp;&nbsp;&nbsp;187.28 | 0.0 |
| Nuro, Inc. |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series C | 10/30/2020 | 31464 | &nbsp;&nbsp;&nbsp;410750 |  |  |  |
| &nbsp;&nbsp;&nbsp;Series C | 03/02/2021 | 15820 | &nbsp;&nbsp;&nbsp;206524 |  |  |  |
|  |  | 47284 | &nbsp;&nbsp;&nbsp;617274 | &nbsp;&nbsp;&nbsp;&nbsp;604999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.06 | 0.1 |
| Nuro, Inc.<br> Series D | 10/29/2021 | 10245 | &nbsp;&nbsp;&nbsp;213564 | &nbsp;&nbsp;&nbsp;&nbsp;131904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.85 | 0.0 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA MFS Large Cap Growth Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition<br> Date** | **Shares or<br> Principal<br> Amount** | **Acquisition<br> Cost** | **Value** | **Value<br> Per Share** | **% of<br> Net Assets** |
| **<u>Convertible Preferred Stocks (continued)</u>** | **<u>Convertible Preferred Stocks (continued)</u>** | **<u>Convertible Preferred Stocks (continued)</u>** | **<u>Convertible Preferred Stocks (continued)</u>** | **<u>Convertible Preferred Stocks (continued)</u>** | **<u>Convertible Preferred Stocks (continued)</u>** | **<u>Convertible Preferred Stocks (continued)</u>** |
| Rappi, Inc. |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series E | 09/08/2020 | &nbsp;&nbsp;3782 | $225960 |  |  |  |
| &nbsp;&nbsp;&nbsp;Series E | 09/24/2020 | &nbsp;&nbsp;5409 | &nbsp;&nbsp;&nbsp;323166 |  |  |  |
|  |  | &nbsp;&nbsp;9191 | &nbsp;&nbsp;&nbsp;549126 | $295736 | $59.75 | 0.0% |
| Redwood Materials, Inc.<br> Series C | 05/28/2021 | &nbsp;&nbsp;9878 | &nbsp;&nbsp;&nbsp;468252 | &nbsp;&nbsp;&nbsp;&nbsp;444510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47.40 | 0.1 |
| Sila Nanotechnologies, Inc.<br> Series F | 01/07/2021 | &nbsp;&nbsp;8833 | &nbsp;&nbsp;&nbsp;364563 | &nbsp;&nbsp;&nbsp;&nbsp;146407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41.27 | 0.0 |
| Waymo LLC<br> Series A-2 | 05/08/2020 | &nbsp;&nbsp;4915 | &nbsp;&nbsp;&nbsp;422037 | &nbsp;&nbsp;&nbsp;&nbsp;362309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85.87 | 0.0 |
|  |  |  |  | $3954957 |  | 0.5%\*\* |

---

\*\* Amount represents the total value of the restricted securities divided by the net assets of the Portfolio and may not equal the sum of the individual percentages shown due to rounding.

(3) See Note 4 for cost of investments on a tax basis.

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;United States | &nbsp;&nbsp;$811819334 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1766251 | &nbsp;&nbsp;$813585585 |
| &nbsp;&nbsp;&nbsp;Other Countries | &nbsp;&nbsp;&nbsp;&nbsp;39058580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;39058580 |
| Convertible Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2188706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2188706 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;3982531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3982531 |
| **Total Investments at Value** | &nbsp;&nbsp;$850877914 | &nbsp;&nbsp;$3982531 | &nbsp;&nbsp;$3954957 | &nbsp;&nbsp;$858815402 |

---

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

Level 3 investments in securities were not considered a significant portion of the Portfolio's net assets.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA MFS Massachusetts Investors Trust Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.4%** | **COMMON STOCKS — 99.4%** | **COMMON STOCKS — 99.4%** |
| **Aerospace/Defense — 2.7%** | **Aerospace/Defense — 2.7%** | **Aerospace/Defense — 2.7%** |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;50343 | &nbsp;&nbsp;$9050161 |
| &nbsp;&nbsp;&nbsp;RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;51250 | &nbsp;&nbsp;&nbsp;&nbsp; 8075463 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;17125624 |
| **Apparel — 0.6%** | **Apparel — 0.6%** | **Apparel — 0.6%** |
| &nbsp;&nbsp;&nbsp;LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7478 | &nbsp;&nbsp;&nbsp;&nbsp; 4030983 |
| **Banks — 5.5%** | **Banks — 5.5%** | **Banks — 5.5%** |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;154685 | &nbsp;&nbsp;&nbsp;&nbsp; 7311960 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13938 | &nbsp;&nbsp;&nbsp;&nbsp; 10085398 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;59738 | &nbsp;&nbsp;&nbsp;&nbsp; 17696785 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;35094143 |
| **Beverages — 0.7%** | **Beverages — 0.7%** | **Beverages — 0.7%** |
| &nbsp;&nbsp;&nbsp;Diageo PLC | &nbsp;&nbsp;&nbsp;&nbsp;187306 | &nbsp;&nbsp;&nbsp;&nbsp; 4583685 |
| **Biotechnology — 1.4%** | **Biotechnology — 1.4%** | **Biotechnology — 1.4%** |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;19556 | &nbsp;&nbsp;&nbsp;&nbsp; 8934550 |
| **Chemicals — 1.1%** | **Chemicals — 1.1%** | **Chemicals — 1.1%** |
| &nbsp;&nbsp;&nbsp;Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;15131 | &nbsp;&nbsp;&nbsp;&nbsp; 6964194 |
| **Commercial Services — 0.5%** | **Commercial Services — 0.5%** | **Commercial Services — 0.5%** |
| &nbsp;&nbsp;&nbsp;TransUnion | &nbsp;&nbsp;&nbsp;&nbsp;33460 | &nbsp;&nbsp;&nbsp;&nbsp; 3185057 |
| **Computers — 5.3%** | **Computers — 5.3%** | **Computers — 5.3%** |
| &nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;107214 | &nbsp;&nbsp;&nbsp;&nbsp; 22254410 |
| &nbsp;&nbsp;&nbsp;Check Point Software Technologies, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;45615 | &nbsp;&nbsp;&nbsp;&nbsp; 8493513 |
| &nbsp;&nbsp;&nbsp;EPAM Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;21311 | &nbsp;&nbsp;&nbsp;&nbsp; 3360958 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;34108881 |
| **Cosmetics/Personal Care — 3.1%** | **Cosmetics/Personal Care — 3.1%** | **Cosmetics/Personal Care — 3.1%** |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | &nbsp;&nbsp;&nbsp;&nbsp;61645 | &nbsp;&nbsp;&nbsp;&nbsp; 5168933 |
| &nbsp;&nbsp;&nbsp;Kenvue, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;239921 | &nbsp;&nbsp;&nbsp;&nbsp; 5143906 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | &nbsp;&nbsp;&nbsp;&nbsp;64214 | &nbsp;&nbsp;&nbsp;&nbsp; 9662281 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;19975120 |
| **Diversified Financial Services — 6.4%** | **Diversified Financial Services — 6.4%** | **Diversified Financial Services — 6.4%** |
| &nbsp;&nbsp;&nbsp;CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35531 | &nbsp;&nbsp;&nbsp;&nbsp; 9887567 |
| &nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;22178 | &nbsp;&nbsp;&nbsp;&nbsp; 12563171 |
| &nbsp;&nbsp;&nbsp;Nasdaq, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;58844 | &nbsp;&nbsp;&nbsp;&nbsp; 5661970 |
| &nbsp;&nbsp;&nbsp;Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;38632 | &nbsp;&nbsp;&nbsp;&nbsp; 13346197 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;41458905 |
| **Electric — 3.2%** | **Electric — 3.2%** | **Electric — 3.2%** |
| &nbsp;&nbsp;&nbsp;Alliant Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;84085 | &nbsp;&nbsp;&nbsp;&nbsp; 5466366 |
| &nbsp;&nbsp;&nbsp;Southern Co. | &nbsp;&nbsp;&nbsp;&nbsp;61437 | &nbsp;&nbsp;&nbsp;&nbsp; 5804568 |
| &nbsp;&nbsp;&nbsp;Xcel Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;126560 | &nbsp;&nbsp;&nbsp;&nbsp; 9294566 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;20565500 |
| **Electrical Components & Equipment — 4.1%** | **Electrical Components & Equipment — 4.1%** | **Electrical Components & Equipment — 4.1%** |
| &nbsp;&nbsp;&nbsp;AMETEK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22339 | &nbsp;&nbsp;&nbsp;&nbsp; 4129364 |
| &nbsp;&nbsp;&nbsp;Eaton Corp. PLC | &nbsp;&nbsp;&nbsp;&nbsp;33035 | &nbsp;&nbsp;&nbsp;&nbsp; 12709225 |
| &nbsp;&nbsp;&nbsp;Emerson Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;63303 | &nbsp;&nbsp;&nbsp;&nbsp; 9211220 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;26049809 |
| **Electronics — 4.5%** | **Electronics — 4.5%** | **Electronics — 4.5%** |
| &nbsp;&nbsp;&nbsp;Allegion PLC | &nbsp;&nbsp;&nbsp;&nbsp;44807 | &nbsp;&nbsp;&nbsp;&nbsp; 7434377 |
| &nbsp;&nbsp;&nbsp;Amphenol Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;43702 | &nbsp;&nbsp;&nbsp;&nbsp; 4654700 |
| &nbsp;&nbsp;&nbsp;Hubbell, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11920 | &nbsp;&nbsp;&nbsp;&nbsp; 5214762 |
| &nbsp;&nbsp;&nbsp;TE Connectivity PLC | &nbsp;&nbsp;&nbsp;&nbsp;57379 | &nbsp;&nbsp;&nbsp;&nbsp; 11805729 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;29109568 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Environmental Control — 1.2%** | **Environmental Control — 1.2%** | **Environmental Control — 1.2%** |
| &nbsp;&nbsp;&nbsp;Veralto Corp. | &nbsp;&nbsp;&nbsp;&nbsp;33650 | &nbsp;&nbsp;$3527529 |
| &nbsp;&nbsp;&nbsp;Waste Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19536 | &nbsp;&nbsp;&nbsp;&nbsp; 4476870 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8004399 |
| **Food Service — 1.1%** | **Food Service — 1.1%** | **Food Service — 1.1%** |
| &nbsp;&nbsp;&nbsp;Aramark | &nbsp;&nbsp;&nbsp;&nbsp;164547 | &nbsp;&nbsp;&nbsp;&nbsp; 7003120 |
| **Healthcare-Products — 5.2%** | **Healthcare-Products — 5.2%** | **Healthcare-Products — 5.2%** |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;48791 | &nbsp;&nbsp;&nbsp;&nbsp; 6156936 |
| &nbsp;&nbsp;&nbsp;Agilent Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;56247 | &nbsp;&nbsp;&nbsp;&nbsp; 6457718 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp;109222 | &nbsp;&nbsp;&nbsp;&nbsp; 9856193 |
| &nbsp;&nbsp;&nbsp;STERIS PLC | &nbsp;&nbsp;&nbsp;&nbsp;34519 | &nbsp;&nbsp;&nbsp;&nbsp; 7818209 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6188 | &nbsp;&nbsp;&nbsp;&nbsp; 2894004 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;33183060 |
| **Healthcare-Services — 1.5%** | **Healthcare-Services — 1.5%** | **Healthcare-Services — 1.5%** |
| &nbsp;&nbsp;&nbsp;Cigna Group | &nbsp;&nbsp;&nbsp;&nbsp;25835 | &nbsp;&nbsp;&nbsp;&nbsp; 6907762 |
| &nbsp;&nbsp;&nbsp;ICON PLC† | &nbsp;&nbsp;&nbsp;&nbsp;17688 | &nbsp;&nbsp;&nbsp;&nbsp; 2992633 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9900395 |
| **Insurance — 4.0%** | **Insurance — 4.0%** | **Insurance — 4.0%** |
| &nbsp;&nbsp;&nbsp;Aon PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;26259 | &nbsp;&nbsp;&nbsp;&nbsp; 9340589 |
| &nbsp;&nbsp;&nbsp;Chubb, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;31001 | &nbsp;&nbsp;&nbsp;&nbsp; 8247506 |
| &nbsp;&nbsp;&nbsp;Willis Towers Watson PLC | &nbsp;&nbsp;&nbsp;&nbsp;26653 | &nbsp;&nbsp;&nbsp;&nbsp; 8417284 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;26005379 |
| **Internet — 13.8%** | **Internet — 13.8%** | **Internet — 13.8%** |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;134877 | &nbsp;&nbsp;&nbsp;&nbsp; 25882896 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;153448 | &nbsp;&nbsp;&nbsp;&nbsp; 35923711 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;34840 | &nbsp;&nbsp;&nbsp;&nbsp; 26946650 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;88753257 |
| **Machinery-Diversified — 1.1%** | **Machinery-Diversified — 1.1%** | **Machinery-Diversified — 1.1%** |
| &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;36893 | &nbsp;&nbsp;&nbsp;&nbsp; 3161361 |
| &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;21705 | &nbsp;&nbsp;&nbsp;&nbsp; 4168446 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7329807 |
| **Oil & Gas — 2.7%** | **Oil & Gas — 2.7%** | **Oil & Gas — 2.7%** |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;98959 | &nbsp;&nbsp;&nbsp;&nbsp; 9434751 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;68784 | &nbsp;&nbsp;&nbsp;&nbsp; 7679046 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;17113797 |
| **Pharmaceuticals — 2.5%** | **Pharmaceuticals — 2.5%** | **Pharmaceuticals — 2.5%** |
| &nbsp;&nbsp;&nbsp;Becton Dickinson & Co. | &nbsp;&nbsp;&nbsp;&nbsp;31150 | &nbsp;&nbsp;&nbsp;&nbsp; 5552487 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;55321 | &nbsp;&nbsp;&nbsp;&nbsp; 9113582 |
| &nbsp;&nbsp;&nbsp;Zoetis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11097 | &nbsp;&nbsp;&nbsp;&nbsp; 1617832 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;16283901 |
| **REITS — 1.3%** | **REITS — 1.3%** | **REITS — 1.3%** |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;40511 | &nbsp;&nbsp;&nbsp;&nbsp; 8442087 |
| **Retail — 2.3%** | **Retail — 2.3%** | **Retail — 2.3%** |
| &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9034 | &nbsp;&nbsp;&nbsp;&nbsp; 8488708 |
| &nbsp;&nbsp;&nbsp;Home Depot, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16656 | &nbsp;&nbsp;&nbsp;&nbsp; 6121246 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14609954 |
| **Semiconductors — 10.5%** | **Semiconductors — 10.5%** | **Semiconductors — 10.5%** |
| &nbsp;&nbsp;&nbsp;Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31153 | &nbsp;&nbsp;&nbsp;&nbsp; 6997898 |
| &nbsp;&nbsp;&nbsp;ASML Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4096 | &nbsp;&nbsp;&nbsp;&nbsp; 2865846 |
| &nbsp;&nbsp;&nbsp;KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4234 | &nbsp;&nbsp;&nbsp;&nbsp; 3721813 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;79772 | &nbsp;&nbsp;&nbsp;&nbsp; 7565576 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;238426 | &nbsp;&nbsp;&nbsp;&nbsp; 42408833 |
| &nbsp;&nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23383 | &nbsp;&nbsp;&nbsp;&nbsp; 4233726 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;67793692 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA MFS Massachusetts Investors Trust Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |  |
| **Software — 12.6%** | **Software — 12.6%** |  |
| &nbsp;&nbsp;&nbsp;Fiserv, Inc.† | &nbsp;&nbsp; 60798 | &nbsp;&nbsp;$8447274 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp; 114156 | &nbsp;&nbsp;&nbsp;&nbsp; 60902226 |
| &nbsp;&nbsp;&nbsp;Salesforce, Inc. | &nbsp;&nbsp; 45747 | &nbsp;&nbsp;&nbsp;&nbsp; 11817823 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;81167323 |
| **Telecommunications — 0.5%** | **Telecommunications — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;Arista Networks, Inc.† | &nbsp;&nbsp; 25565 | &nbsp;&nbsp;&nbsp;&nbsp; 3150119 |
| **Total Long-Term Investment Securities<br> (cost $453,491,196)** |  | &nbsp;&nbsp;&nbsp;&nbsp;639926309 |
| **SHORT-TERM INVESTMENTS — 0.6%** | **SHORT-TERM INVESTMENTS — 0.6%** |  |
| **U.S. Government Agency — 0.6%** | **U.S. Government Agency — 0.6%** |  |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Bank Disc. Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.18%, 08/01/2025<br> (cost $3,548,000) | $3548000 | &nbsp;&nbsp;&nbsp;&nbsp; 3547582 |
| **TOTAL INVESTMENTS<br> (cost $457,039,196)(1)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;&nbsp;&nbsp;643473891 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159309 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$643633200 |

---

† Non-income producing security

(1) See Note 4 for cost of investments on a tax basis.

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$639926309 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$639926309 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;3547582 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3547582 |
| **Total Investments at Value** | &nbsp;&nbsp;$639926309 | &nbsp;&nbsp;$3547582 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$643473891 |

---

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

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA MFS Total Return Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 59.1%** | **COMMON STOCKS — 59.1%** | **COMMON STOCKS — 59.1%** |
| **Advertising — 1.2%** | **Advertising — 1.2%** | **Advertising — 1.2%** |
| &nbsp;&nbsp;&nbsp;Interpublic Group of Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10741 | &nbsp;&nbsp;$264229 |
| &nbsp;&nbsp;&nbsp;Omnicom Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73771 | &nbsp;&nbsp;&nbsp;&nbsp; 5315200 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5579429 |
| **Aerospace/Defense — 1.6%** | **Aerospace/Defense — 1.6%** | **Aerospace/Defense — 1.6%** |
| &nbsp;&nbsp;&nbsp;Boeing Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5452 | &nbsp;&nbsp;&nbsp;&nbsp; 1209472 |
| &nbsp;&nbsp;&nbsp;General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9032 | &nbsp;&nbsp;&nbsp;&nbsp; 2814462 |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13625 | &nbsp;&nbsp;&nbsp;&nbsp; 3744422 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7768356 |
| **Agriculture — 1.7%** | **Agriculture — 1.7%** | **Agriculture — 1.7%** |
| &nbsp;&nbsp;&nbsp;Altria Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19630 | &nbsp;&nbsp;&nbsp;&nbsp; 1215882 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16719 | &nbsp;&nbsp;&nbsp;&nbsp; 905836 |
| &nbsp;&nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37963 | &nbsp;&nbsp;&nbsp;&nbsp; 6227830 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8349548 |
| **Auto Parts & Equipment — 1.5%** | **Auto Parts & Equipment — 1.5%** | **Auto Parts & Equipment — 1.5%** |
| &nbsp;&nbsp;&nbsp;Aptiv PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59178 | &nbsp;&nbsp;&nbsp;&nbsp; 4061978 |
| &nbsp;&nbsp;&nbsp;Lear Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34647 | &nbsp;&nbsp;&nbsp;&nbsp; 3266865 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7328843 |
| **Banks — 8.0%** | **Banks — 8.0%** | **Banks — 8.0%** |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;167727 | &nbsp;&nbsp;&nbsp;&nbsp; 7928455 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11089 | &nbsp;&nbsp;&nbsp;&nbsp; 8023890 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20138 | &nbsp;&nbsp;&nbsp;&nbsp; 5965681 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22811 | &nbsp;&nbsp;&nbsp;&nbsp; 3249655 |
| &nbsp;&nbsp;&nbsp;Northern Trust Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56079 | &nbsp;&nbsp;&nbsp;&nbsp; 7290270 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18913 | &nbsp;&nbsp;&nbsp;&nbsp; 3598577 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27767 | &nbsp;&nbsp;&nbsp;&nbsp; 2238853 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;38295381 |
| **Beverages — 0.8%** | **Beverages — 0.8%** | **Beverages — 0.8%** |
| &nbsp;&nbsp;&nbsp;Constellation Brands, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12746 | &nbsp;&nbsp;&nbsp;&nbsp; 2129092 |
| &nbsp;&nbsp;&nbsp;Diageo PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64155 | &nbsp;&nbsp;&nbsp;&nbsp; 1569978 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3699070 |
| **Building Materials — 2.5%** | **Building Materials — 2.5%** | **Building Materials — 2.5%** |
| &nbsp;&nbsp;&nbsp;Johnson Controls International PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60742 | &nbsp;&nbsp;&nbsp;&nbsp; 6377910 |
| &nbsp;&nbsp;&nbsp;Masco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66840 | &nbsp;&nbsp;&nbsp;&nbsp; 4553809 |
| &nbsp;&nbsp;&nbsp;Mohawk Industries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11149 | &nbsp;&nbsp;&nbsp;&nbsp; 1276672 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;12208391 |
| **Chemicals — 1.7%** | **Chemicals — 1.7%** | **Chemicals — 1.7%** |
| &nbsp;&nbsp;&nbsp;Air Products & Chemicals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3724 | &nbsp;&nbsp;&nbsp;&nbsp; 1072065 |
| &nbsp;&nbsp;&nbsp;Axalta Coating Systems, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67851 | &nbsp;&nbsp;&nbsp;&nbsp; 1921540 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24837 | &nbsp;&nbsp;&nbsp;&nbsp; 1785780 |
| &nbsp;&nbsp;&nbsp;PPG Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31017 | &nbsp;&nbsp;&nbsp;&nbsp; 3272294 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8051679 |
| **Computers — 1.3%** | **Computers — 1.3%** | **Computers — 1.3%** |
| &nbsp;&nbsp;&nbsp;Accenture PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7380 | &nbsp;&nbsp;&nbsp;&nbsp; 1971198 |
| &nbsp;&nbsp;&nbsp;Amdocs, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18448 | &nbsp;&nbsp;&nbsp;&nbsp; 1574721 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27744 | &nbsp;&nbsp;&nbsp;&nbsp; 1990910 |
| &nbsp;&nbsp;&nbsp;Leidos Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5377 | &nbsp;&nbsp;&nbsp;&nbsp; 858438 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6395267 |
| **Cosmetics/Personal Care — 1.5%** | **Cosmetics/Personal Care — 1.5%** | **Cosmetics/Personal Care — 1.5%** |
| &nbsp;&nbsp;&nbsp;Kenvue, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;330933 | &nbsp;&nbsp;&nbsp;&nbsp; 7095203 |
| **Distribution/Wholesale — 0.5%** | **Distribution/Wholesale — 0.5%** | **Distribution/Wholesale — 0.5%** |
| &nbsp;&nbsp;&nbsp;LKQ Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86821 | &nbsp;&nbsp;&nbsp;&nbsp; 2558615 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Diversified Financial Services — 3.4%** | **Diversified Financial Services — 3.4%** | **Diversified Financial Services — 3.4%** |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;129365 | &nbsp;&nbsp;$12642841 |
| &nbsp;&nbsp;&nbsp;CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12400 | &nbsp;&nbsp;&nbsp;&nbsp; 3450672 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;16093513 |
| **Electric — 3.1%** | **Electric — 3.1%** | **Electric — 3.1%** |
| &nbsp;&nbsp;&nbsp;Duke Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31519 | &nbsp;&nbsp;&nbsp;&nbsp; 3833971 |
| &nbsp;&nbsp;&nbsp;Exelon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44026 | &nbsp;&nbsp;&nbsp;&nbsp; 1978528 |
| &nbsp;&nbsp;&nbsp;National Grid PLC | &nbsp;&nbsp;&nbsp;&nbsp;229753 | &nbsp;&nbsp;&nbsp;&nbsp; 3216287 |
| &nbsp;&nbsp;&nbsp;PG&E Corp. | &nbsp;&nbsp;&nbsp;&nbsp;302610 | &nbsp;&nbsp;&nbsp;&nbsp; 4242592 |
| &nbsp;&nbsp;&nbsp;Southern Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14670 | &nbsp;&nbsp;&nbsp;&nbsp; 1386022 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14657400 |
| **Electrical Components & Equipment — 0.6%** | **Electrical Components & Equipment — 0.6%** | **Electrical Components & Equipment — 0.6%** |
| &nbsp;&nbsp;&nbsp;Eaton Corp. PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7504 | &nbsp;&nbsp;&nbsp;&nbsp; 2886939 |
| **Electronics — 0.6%** | **Electronics — 0.6%** | **Electronics — 0.6%** |
| &nbsp;&nbsp;&nbsp;Honeywell International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13093 | &nbsp;&nbsp;&nbsp;&nbsp; 2911229 |
| **Food — 0.2%** | **Food — 0.2%** | **Food — 0.2%** |
| &nbsp;&nbsp;&nbsp;US Foods Holding Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10885 | &nbsp;&nbsp;&nbsp;&nbsp; 907047 |
| **Hand/Machine Tools — 0.3%** | **Hand/Machine Tools — 0.3%** | **Hand/Machine Tools — 0.3%** |
| &nbsp;&nbsp;&nbsp;Stanley Black & Decker, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23010 | &nbsp;&nbsp;&nbsp;&nbsp; 1556626 |
| **Healthcare-Products — 2.3%** | **Healthcare-Products — 2.3%** | **Healthcare-Products — 2.3%** |
| &nbsp;&nbsp;&nbsp;Agilent Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20224 | &nbsp;&nbsp;&nbsp;&nbsp; 2321918 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98730 | &nbsp;&nbsp;&nbsp;&nbsp; 8909395 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11231313 |
| **Healthcare-Services — 2.0%** | **Healthcare-Services — 2.0%** | **Healthcare-Services — 2.0%** |
| &nbsp;&nbsp;&nbsp;Cigna Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25021 | &nbsp;&nbsp;&nbsp;&nbsp; 6690115 |
| &nbsp;&nbsp;&nbsp;ICON PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16277 | &nbsp;&nbsp;&nbsp;&nbsp; 2753906 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9444021 |
| **Household Products/Wares — 0.6%** | **Household Products/Wares — 0.6%** | **Household Products/Wares — 0.6%** |
| &nbsp;&nbsp;&nbsp;Avery Dennison Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3870 | &nbsp;&nbsp;&nbsp;&nbsp; 649270 |
| &nbsp;&nbsp;&nbsp;Henkel AG & Co. KGaA (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30775 | &nbsp;&nbsp;&nbsp;&nbsp; 2373437 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3022707 |
| **Insurance — 4.0%** | **Insurance — 4.0%** | **Insurance — 4.0%** |
| &nbsp;&nbsp;&nbsp;Aon PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18467 | &nbsp;&nbsp;&nbsp;&nbsp; 6568897 |
| &nbsp;&nbsp;&nbsp;Chubb, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19459 | &nbsp;&nbsp;&nbsp;&nbsp; 5176872 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10584 | &nbsp;&nbsp;&nbsp;&nbsp; 823753 |
| &nbsp;&nbsp;&nbsp;Travelers Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5435 | &nbsp;&nbsp;&nbsp;&nbsp; 1414404 |
| &nbsp;&nbsp;&nbsp;Willis Towers Watson PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16790 | &nbsp;&nbsp;&nbsp;&nbsp; 5302450 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;19286376 |
| **Machinery-Diversified — 0.9%** | **Machinery-Diversified — 0.9%** | **Machinery-Diversified — 0.9%** |
| &nbsp;&nbsp;&nbsp;AGCO Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15822 | &nbsp;&nbsp;&nbsp;&nbsp; 1866522 |
| &nbsp;&nbsp;&nbsp;Regal Rexnord Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16231 | &nbsp;&nbsp;&nbsp;&nbsp; 2481395 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4347917 |
| **Media — 1.7%** | **Media — 1.7%** | **Media — 1.7%** |
| &nbsp;&nbsp;&nbsp;Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;200492 | &nbsp;&nbsp;&nbsp;&nbsp; 6662349 |
| &nbsp;&nbsp;&nbsp;Warner Bros. Discovery, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;110297 | &nbsp;&nbsp;&nbsp;&nbsp; 1452612 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8114961 |
| **Mining — 0.2%** | **Mining — 0.2%** | **Mining — 0.2%** |
| &nbsp;&nbsp;&nbsp;Glencore PLC | &nbsp;&nbsp;&nbsp;&nbsp;241990 | &nbsp;&nbsp;&nbsp;&nbsp; 973932 |
| **Oil & Gas — 4.1%** | **Oil & Gas — 4.1%** | **Oil & Gas — 4.1%** |
| &nbsp;&nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44711 | &nbsp;&nbsp;&nbsp;&nbsp; 6779976 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58078 | &nbsp;&nbsp;&nbsp;&nbsp; 5537157 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38780 | &nbsp;&nbsp;&nbsp;&nbsp; 4329399 |
| &nbsp;&nbsp;&nbsp;Suncor Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77781 | &nbsp;&nbsp;&nbsp;&nbsp; 3067791 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;19714323 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA MFS Total Return Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** |
| &nbsp;&nbsp;&nbsp;Smurfit WestRock PLC | &nbsp;&nbsp; 22597 | &nbsp;&nbsp;$1002855 |
| **Pharmaceuticals — 6.1%** | **Pharmaceuticals — 6.1%** | **Pharmaceuticals — 6.1%** |
| &nbsp;&nbsp;&nbsp;Becton Dickinson & Co. | &nbsp;&nbsp; 48260 | &nbsp;&nbsp;&nbsp;&nbsp; 8602345 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp; 49839 | &nbsp;&nbsp;&nbsp;&nbsp; 8210477 |
| &nbsp;&nbsp;&nbsp;McKesson Corp. | &nbsp;&nbsp; 3781 | &nbsp;&nbsp;&nbsp;&nbsp; 2622275 |
| &nbsp;&nbsp;&nbsp;Organon & Co. | &nbsp;&nbsp; 30279 | &nbsp;&nbsp;&nbsp;&nbsp; 293706 |
| &nbsp;&nbsp;&nbsp;Pfizer, Inc. | &nbsp;&nbsp; 308122 | &nbsp;&nbsp;&nbsp;&nbsp; 7176161 |
| &nbsp;&nbsp;&nbsp;Roche Holding AG | &nbsp;&nbsp; 8005 | &nbsp;&nbsp;&nbsp;&nbsp; 2533808 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;29438772 |
| **Retail — 0.5%** | **Retail — 0.5%** | **Retail — 0.5%** |
| &nbsp;&nbsp;&nbsp;Target Corp. | &nbsp;&nbsp; 19007 | &nbsp;&nbsp;&nbsp;&nbsp; 1910204 |
| &nbsp;&nbsp;&nbsp;Wendy's Co. | &nbsp;&nbsp; 45044 | &nbsp;&nbsp;&nbsp;&nbsp; 443683 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2353887 |
| **Semiconductors — 1.7%** | **Semiconductors — 1.7%** | **Semiconductors — 1.7%** |
| &nbsp;&nbsp;&nbsp;Intel Corp. | &nbsp;&nbsp; 116051 | &nbsp;&nbsp;&nbsp;&nbsp; 2297810 |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors NV | &nbsp;&nbsp; 17792 | &nbsp;&nbsp;&nbsp;&nbsp; 3803396 |
| &nbsp;&nbsp;&nbsp;Samsung Electronics Co., Ltd. (Preference Shares) | &nbsp;&nbsp; 44986 | &nbsp;&nbsp;&nbsp;&nbsp; 1868469 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7969675 |
| **Software — 3.4%** | **Software — 3.4%** | **Software — 3.4%** |
| &nbsp;&nbsp;&nbsp;Electronic Arts, Inc. | &nbsp;&nbsp; 16758 | &nbsp;&nbsp;&nbsp;&nbsp; 2555427 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services, Inc. | &nbsp;&nbsp; 29345 | &nbsp;&nbsp;&nbsp;&nbsp; 2330287 |
| &nbsp;&nbsp;&nbsp;Fiserv, Inc.† | &nbsp;&nbsp; 18813 | &nbsp;&nbsp;&nbsp;&nbsp; 2613878 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp; 16675 | &nbsp;&nbsp;&nbsp;&nbsp; 8896113 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;16395705 |
| **Transportation — 0.9%** | **Transportation — 0.9%** | **Transportation — 0.9%** |
| &nbsp;&nbsp;&nbsp;Union Pacific Corp. | &nbsp;&nbsp; 20175 | &nbsp;&nbsp;&nbsp;&nbsp; 4478245 |
| **Total Common Stocks<br> (cost $228,911,950)** |  | &nbsp;&nbsp;&nbsp;&nbsp;284117225 |
| **CONVERTIBLE PREFERRED STOCKS — 0.3%** | **CONVERTIBLE PREFERRED STOCKS — 0.3%** | **CONVERTIBLE PREFERRED STOCKS — 0.3%** |
| **Aerospace/Defense — 0.3%** | **Aerospace/Defense — 0.3%** | **Aerospace/Defense — 0.3%** |
| &nbsp;&nbsp;&nbsp;Boeing Co.<br> (cost $1,065,050) | &nbsp;&nbsp; 21301 | &nbsp;&nbsp;&nbsp;&nbsp; 1505980 |
| **CORPORATE BONDS & NOTES — 12.6%** | **CORPORATE BONDS & NOTES — 12.6%** | **CORPORATE BONDS & NOTES — 12.6%** |
| **Aerospace/Defense — 0.1%** | **Aerospace/Defense — 0.1%** | **Aerospace/Defense — 0.1%** |
| &nbsp;&nbsp;&nbsp;BAE Systems PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 04/15/2030\* | $224000 | &nbsp;&nbsp;&nbsp;&nbsp; 213540 |
| &nbsp;&nbsp;&nbsp;Boeing Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.81%, 05/01/2050 | &nbsp;&nbsp; 199000 | &nbsp;&nbsp;&nbsp;&nbsp; 192052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.86%, 05/01/2054 | &nbsp;&nbsp; 176000 | &nbsp;&nbsp;&nbsp;&nbsp; 193453 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599045 |
| **Agriculture — 0.4%** | **Agriculture — 0.4%** | **Agriculture — 0.4%** |
| &nbsp;&nbsp;&nbsp;BAT International Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 03/16/2028 | &nbsp;&nbsp; 1078000 | &nbsp;&nbsp;&nbsp;&nbsp; 1074505 |
| &nbsp;&nbsp;&nbsp;Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 11/17/2027 | &nbsp;&nbsp; 194000 | &nbsp;&nbsp;&nbsp;&nbsp; 196969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 02/15/2030 | &nbsp;&nbsp; 234000 | &nbsp;&nbsp;&nbsp;&nbsp; 239601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 11/17/2029 | &nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 88700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 11/17/2032 | &nbsp;&nbsp; 365000 | &nbsp;&nbsp;&nbsp;&nbsp; 383104 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1982879 |
| **Auto Manufacturers — 0.1%** | **Auto Manufacturers — 0.1%** | **Auto Manufacturers — 0.1%** |
| &nbsp;&nbsp;&nbsp;Stellantis Finance US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.69%, 09/15/2031\* | &nbsp;&nbsp; 783000 | &nbsp;&nbsp;&nbsp;&nbsp; 660253 |
| **Banks — 2.4%** | **Banks — 2.4%** | **Banks — 2.4%** |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.57%, 10/20/2032 | &nbsp;&nbsp; 632000 | &nbsp;&nbsp;&nbsp;&nbsp; 556981 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.44%, 11/02/2033 | $643000 | &nbsp;&nbsp;$730746 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.31%, 11/16/2027 | &nbsp;&nbsp; 188000 | &nbsp;&nbsp;&nbsp;&nbsp; 182436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.72%, 01/18/2029 | &nbsp;&nbsp; 485000 | &nbsp;&nbsp;&nbsp;&nbsp; 507911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.15%, 07/13/2027 | &nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp; 194217 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 07/21/2032 | &nbsp;&nbsp; 578000 | &nbsp;&nbsp;&nbsp;&nbsp; 504917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 02/07/2030 | &nbsp;&nbsp; 673000 | &nbsp;&nbsp;&nbsp;&nbsp; 621704 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 03/09/2026(1) | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 197835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 03/09/2031(1) | &nbsp;&nbsp; 237000 | &nbsp;&nbsp;&nbsp;&nbsp; 217740 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55%, 11/08/2032 | &nbsp;&nbsp; 1014000 | &nbsp;&nbsp;&nbsp;&nbsp; 891479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.96%, 05/13/2031 | &nbsp;&nbsp; 104000 | &nbsp;&nbsp;&nbsp;&nbsp; 96351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.96%, 01/25/2033 | &nbsp;&nbsp; 396000 | &nbsp;&nbsp;&nbsp;&nbsp; 355789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.11%, 04/22/2041 | &nbsp;&nbsp; 530000 | &nbsp;&nbsp;&nbsp;&nbsp; 405038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 01/23/2049 | &nbsp;&nbsp; 198000 | &nbsp;&nbsp;&nbsp;&nbsp; 155235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.77%, 04/22/2035 | &nbsp;&nbsp; 459000 | &nbsp;&nbsp;&nbsp;&nbsp; 481391 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.85%, 01/19/2033 | &nbsp;&nbsp; 678000 | &nbsp;&nbsp;&nbsp;&nbsp; 601243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.62%, 04/24/2036 | &nbsp;&nbsp; 652000 | &nbsp;&nbsp;&nbsp;&nbsp; 673474 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 01/22/2031 | &nbsp;&nbsp; 1271000 | &nbsp;&nbsp;&nbsp;&nbsp; 1171322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.94%, 01/21/2033 | &nbsp;&nbsp; 672000 | &nbsp;&nbsp;&nbsp;&nbsp; 600509 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.47%, 01/14/2029 | &nbsp;&nbsp; 1128000 | &nbsp;&nbsp;&nbsp;&nbsp; 1056865 |
| &nbsp;&nbsp;&nbsp;UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10%, 02/11/2032\* | &nbsp;&nbsp; 1372000 | &nbsp;&nbsp;&nbsp;&nbsp; 1188493 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11391676 |
| **Beverages — 0.3%** | **Beverages — 0.3%** | **Beverages — 0.3%** |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 04/15/2038 | &nbsp;&nbsp; 157000 | &nbsp;&nbsp;&nbsp;&nbsp; 145661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 11/15/2039 | &nbsp;&nbsp; 621000 | &nbsp;&nbsp;&nbsp;&nbsp; 778994 |
| &nbsp;&nbsp;&nbsp;Diageo Capital PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 10/24/2029 | &nbsp;&nbsp; 499000 | &nbsp;&nbsp;&nbsp;&nbsp; 461910 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 05/01/2030 | &nbsp;&nbsp; 61000 | &nbsp;&nbsp;&nbsp;&nbsp; 57277 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1443842 |
| **Building Materials — 0.2%** | **Building Materials — 0.2%** | **Building Materials — 0.2%** |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 03/15/2030 | &nbsp;&nbsp; 37000 | &nbsp;&nbsp;&nbsp;&nbsp; 33863 |
| &nbsp;&nbsp;&nbsp;Masco Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 02/15/2031 | &nbsp;&nbsp; 787000 | &nbsp;&nbsp;&nbsp;&nbsp; 675885 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 06/01/2030 | &nbsp;&nbsp; 83000 | &nbsp;&nbsp;&nbsp;&nbsp; 78994 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;788742 |
| **Chemicals — 0.0%** | **Chemicals — 0.0%** | **Chemicals — 0.0%** |
| &nbsp;&nbsp;&nbsp;RPM International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 01/15/2032 | &nbsp;&nbsp; 295000 | &nbsp;&nbsp;&nbsp;&nbsp; 261179 |
| **Commercial Services — 0.6%** | **Commercial Services — 0.6%** | **Commercial Services — 0.6%** |
| &nbsp;&nbsp;&nbsp;Ashtead Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 08/11/2032\* | &nbsp;&nbsp; 892000 | &nbsp;&nbsp;&nbsp;&nbsp; 903626 |
| &nbsp;&nbsp;&nbsp;ERAC USA Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 10/15/2037\* | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 275327 |
| &nbsp;&nbsp;&nbsp;Experian Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 02/01/2029\* | &nbsp;&nbsp; 336000 | &nbsp;&nbsp;&nbsp;&nbsp; 333733 |
| &nbsp;&nbsp;&nbsp;Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.20%, 03/01/2026 | &nbsp;&nbsp; 438000 | &nbsp;&nbsp;&nbsp;&nbsp; 429177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 11/15/2031 | &nbsp;&nbsp; 244000 | &nbsp;&nbsp;&nbsp;&nbsp; 214209 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA MFS Total Return Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 03/15/2029 | $398000 | &nbsp;&nbsp;$394863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 04/01/2033 | &nbsp;&nbsp; 320000 | &nbsp;&nbsp;&nbsp;&nbsp; 334962 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2885897 |
| **Cosmetics/Personal Care — 0.0%** | **Cosmetics/Personal Care — 0.0%** | **Cosmetics/Personal Care — 0.0%** |
| &nbsp;&nbsp;&nbsp;Kenvue, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 03/22/2033 | &nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 222421 |
| **Diversified Financial Services — 1.0%** | **Diversified Financial Services — 1.0%** | **Diversified Financial Services — 1.0%** |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC/AerCap Global Aviation Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 10/29/2026 | &nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 253110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 07/21/2027 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 147461 |
| &nbsp;&nbsp;&nbsp;Avolon Holdings Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.53%, 11/18/2027\* | &nbsp;&nbsp; 385000 | &nbsp;&nbsp;&nbsp;&nbsp; 366869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 02/15/2027\* | &nbsp;&nbsp; 464000 | &nbsp;&nbsp;&nbsp;&nbsp; 452389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 05/01/2026\* | &nbsp;&nbsp; 141000 | &nbsp;&nbsp;&nbsp;&nbsp; 140266 |
| &nbsp;&nbsp;&nbsp;Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.27%, 03/01/2030 | &nbsp;&nbsp; 962000 | &nbsp;&nbsp;&nbsp;&nbsp; 919011 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 05/19/2034 | &nbsp;&nbsp; 1033000 | &nbsp;&nbsp;&nbsp;&nbsp; 1094914 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10%, 06/15/2030 | &nbsp;&nbsp; 423000 | &nbsp;&nbsp;&nbsp;&nbsp; 378458 |
| &nbsp;&nbsp;&nbsp;LPL Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 05/15/2031\* | &nbsp;&nbsp; 887000 | &nbsp;&nbsp;&nbsp;&nbsp; 848084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 11/17/2028 | &nbsp;&nbsp; 82000 | &nbsp;&nbsp;&nbsp;&nbsp; 87069 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4687631 |
| **Electric — 1.2%** | **Electric — 1.2%** | **Electric — 1.2%** |
| &nbsp;&nbsp;&nbsp;American Electric Power Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 11/01/2032 | &nbsp;&nbsp; 264000 | &nbsp;&nbsp;&nbsp;&nbsp; 279571 |
| &nbsp;&nbsp;&nbsp;American Transmission Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 01/15/2032\* | &nbsp;&nbsp; 111000 | &nbsp;&nbsp;&nbsp;&nbsp; 97641 |
| &nbsp;&nbsp;&nbsp;Brazos Securitization LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.24%, 03/01/2043\* | &nbsp;&nbsp; 347000 | &nbsp;&nbsp;&nbsp;&nbsp; 341471 |
| &nbsp;&nbsp;&nbsp;Consumers 2023 Securitization Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 03/01/2028 | &nbsp;&nbsp; 183214 | &nbsp;&nbsp;&nbsp;&nbsp; 184467 |
| &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 01/15/2033 | &nbsp;&nbsp; 881000 | &nbsp;&nbsp;&nbsp;&nbsp; 892296 |
| &nbsp;&nbsp;&nbsp;Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 09/01/2026 | &nbsp;&nbsp; 61000 | &nbsp;&nbsp;&nbsp;&nbsp; 59760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 08/15/2032 | &nbsp;&nbsp; 628000 | &nbsp;&nbsp;&nbsp;&nbsp; 614764 |
| &nbsp;&nbsp;&nbsp;Electricite de France SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.90%, 05/23/2053\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 214430 |
| &nbsp;&nbsp;&nbsp;Empire District Bondco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.94%, 01/01/2035 | &nbsp;&nbsp; 240371 | &nbsp;&nbsp;&nbsp;&nbsp; 241578 |
| &nbsp;&nbsp;&nbsp;Exelon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 04/15/2030 | &nbsp;&nbsp; 333000 | &nbsp;&nbsp;&nbsp;&nbsp; 326679 |
| &nbsp;&nbsp;&nbsp;Georgia Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 01/30/2050 | &nbsp;&nbsp; 27000 | &nbsp;&nbsp;&nbsp;&nbsp; 20143 |
| &nbsp;&nbsp;&nbsp;Jersey Central Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 03/01/2032\* | &nbsp;&nbsp; 195000 | &nbsp;&nbsp;&nbsp;&nbsp; 170976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 01/15/2026\* | &nbsp;&nbsp; 276000 | &nbsp;&nbsp;&nbsp;&nbsp; 275277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 01/15/2035 | &nbsp;&nbsp; 154000 | &nbsp;&nbsp;&nbsp;&nbsp; 153365 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 03/15/2029 | &nbsp;&nbsp; 403000 | &nbsp;&nbsp;&nbsp;&nbsp; 420129 |
| &nbsp;&nbsp;&nbsp;Pacific Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10%, 08/01/2027 | &nbsp;&nbsp; 102000 | &nbsp;&nbsp;&nbsp;&nbsp; 96854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 02/01/2031 | &nbsp;&nbsp; 411000 | &nbsp;&nbsp;&nbsp;&nbsp; 358824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 06/15/2028 | &nbsp;&nbsp; 298000 | &nbsp;&nbsp;&nbsp;&nbsp; 283708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 08/01/2040 | &nbsp;&nbsp; 211000 | &nbsp;&nbsp;&nbsp;&nbsp; 154326 |
| &nbsp;&nbsp;&nbsp;Virginia Power Fuel Securitization LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.09%, 05/01/2029 | &nbsp;&nbsp; 203268 | &nbsp;&nbsp;&nbsp;&nbsp; 203985 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp;&nbsp;Xcel Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 06/01/2030 | $222000 | &nbsp;&nbsp;$210418 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5600662 |
| **Electronics — 0.1%** | **Electronics — 0.1%** | **Electronics — 0.1%** |
| &nbsp;&nbsp;&nbsp;Arrow Electronics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 02/15/2032 | &nbsp;&nbsp; 594000 | &nbsp;&nbsp;&nbsp;&nbsp; 520903 |
| **Environmental Control — 0.3%** | **Environmental Control — 0.3%** | **Environmental Control — 0.3%** |
| &nbsp;&nbsp;&nbsp;Republic Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.45%, 02/15/2031 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 144625 |
| &nbsp;&nbsp;&nbsp;Waste Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 02/15/2034 | &nbsp;&nbsp; 1226000 | &nbsp;&nbsp;&nbsp;&nbsp; 1238134 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1382759 |
| **Food — 0.1%** | **Food — 0.1%** | **Food — 0.1%** |
| &nbsp;&nbsp;&nbsp;Mars, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 03/01/2035\* | &nbsp;&nbsp; 489000 | &nbsp;&nbsp;&nbsp;&nbsp; 491341 |
| **Gas — 0.1%** | **Gas — 0.1%** | **Gas — 0.1%** |
| &nbsp;&nbsp;&nbsp;APA Infrastructure, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 07/15/2027\* | &nbsp;&nbsp; 62000 | &nbsp;&nbsp;&nbsp;&nbsp; 61593 |
| &nbsp;&nbsp;&nbsp;East Ohio Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 06/15/2030\* | &nbsp;&nbsp; 229000 | &nbsp;&nbsp;&nbsp;&nbsp; 202186 |
| &nbsp;&nbsp;&nbsp;NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 09/01/2029 | &nbsp;&nbsp; 253000 | &nbsp;&nbsp;&nbsp;&nbsp; 238384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 02/01/2045 | &nbsp;&nbsp; 89000 | &nbsp;&nbsp;&nbsp;&nbsp; 86131 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588294 |
| **Healthcare-Products — 0.1%** | **Healthcare-Products — 0.1%** | **Healthcare-Products — 0.1%** |
| &nbsp;&nbsp;&nbsp;Alcon Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 05/27/2030\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 183468 |
| &nbsp;&nbsp;&nbsp;Boston Scientific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 06/01/2030 | &nbsp;&nbsp; 312000 | &nbsp;&nbsp;&nbsp;&nbsp; 287707 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471175 |
| **Healthcare-Services — 0.4%** | **Healthcare-Services — 0.4%** | **Healthcare-Services — 0.4%** |
| &nbsp;&nbsp;&nbsp;Adventist Health System |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.43%, 03/01/2032 | &nbsp;&nbsp; 568000 | &nbsp;&nbsp;&nbsp;&nbsp; 572549 |
| &nbsp;&nbsp;&nbsp;Cigna Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 03/15/2040 | &nbsp;&nbsp; 102000 | &nbsp;&nbsp;&nbsp;&nbsp; 77187 |
| &nbsp;&nbsp;&nbsp;HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 06/15/2039 | &nbsp;&nbsp; 419000 | &nbsp;&nbsp;&nbsp;&nbsp; 392826 |
| &nbsp;&nbsp;&nbsp;Humana, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 03/01/2033 | &nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 268857 |
| &nbsp;&nbsp;&nbsp;Northwell Healthcare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.98%, 11/01/2046 | &nbsp;&nbsp; 33000 | &nbsp;&nbsp;&nbsp;&nbsp; 25287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.26%, 11/01/2047 | &nbsp;&nbsp; 238000 | &nbsp;&nbsp;&nbsp;&nbsp; 189526 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 04/15/2034 | &nbsp;&nbsp; 483000 | &nbsp;&nbsp;&nbsp;&nbsp; 479287 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2005519 |
| **Insurance — 1.0%** | **Insurance — 1.0%** | **Insurance — 1.0%** |
| &nbsp;&nbsp;&nbsp;AIA Group, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 04/07/2030\* | &nbsp;&nbsp; 586000 | &nbsp;&nbsp;&nbsp;&nbsp; 561065 |
| &nbsp;&nbsp;&nbsp;Aon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 12/15/2028 | &nbsp;&nbsp; 439000 | &nbsp;&nbsp;&nbsp;&nbsp; 440213 |
| &nbsp;&nbsp;&nbsp;Brown & Brown, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 03/17/2032 | &nbsp;&nbsp; 457000 | &nbsp;&nbsp;&nbsp;&nbsp; 434119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 06/23/2035 | &nbsp;&nbsp; 121000 | &nbsp;&nbsp;&nbsp;&nbsp; 122318 |
| &nbsp;&nbsp;&nbsp;Fairfax Financial Holdings, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 08/16/2032 | &nbsp;&nbsp; 920000 | &nbsp;&nbsp;&nbsp;&nbsp; 940668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 12/07/2033 | &nbsp;&nbsp; 26000 | &nbsp;&nbsp;&nbsp;&nbsp; 27058 |
| &nbsp;&nbsp;&nbsp;Liberty Mutual Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 10/15/2050\* | &nbsp;&nbsp; 228000 | &nbsp;&nbsp;&nbsp;&nbsp; 169306 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA MFS Total Return Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| &nbsp;&nbsp;&nbsp;Metropolitan Life Global Funding I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 03/21/2029\* | $1046000 | &nbsp;&nbsp;$1005978 |
| &nbsp;&nbsp;&nbsp;Sammons Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 04/08/2032\* | &nbsp;&nbsp; 141000 | &nbsp;&nbsp;&nbsp;&nbsp; 134935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 04/15/2034\* | &nbsp;&nbsp; 731000 | &nbsp;&nbsp;&nbsp;&nbsp; 784585 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4620245 |
| **Internet — 0.1%** | **Internet — 0.1%** | **Internet — 0.1%** |
| &nbsp;&nbsp;&nbsp;Booking Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 04/13/2030 | &nbsp;&nbsp; 302000 | &nbsp;&nbsp;&nbsp;&nbsp; 304318 |
| **Lodging — 0.2%** | **Lodging — 0.2%** | **Lodging — 0.2%** |
| &nbsp;&nbsp;&nbsp;Las Vegas Sands Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 08/08/2029 | &nbsp;&nbsp; 181000 | &nbsp;&nbsp;&nbsp;&nbsp; 172714 |
| &nbsp;&nbsp;&nbsp;Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 10/15/2033 | &nbsp;&nbsp; 339000 | &nbsp;&nbsp;&nbsp;&nbsp; 287815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.85%, 04/15/2031 | &nbsp;&nbsp; 6000 | &nbsp;&nbsp;&nbsp;&nbsp; 5439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 06/15/2030 | &nbsp;&nbsp; 418000 | &nbsp;&nbsp;&nbsp;&nbsp; 417367 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883335 |
| **Machinery-Diversified — 0.1%** | **Machinery-Diversified — 0.1%** | **Machinery-Diversified — 0.1%** |
| &nbsp;&nbsp;&nbsp;CNH Industrial Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.88%, 01/15/2026 | &nbsp;&nbsp; 94000 | &nbsp;&nbsp;&nbsp;&nbsp; 92699 |
| &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 09/15/2028 | &nbsp;&nbsp; 433000 | &nbsp;&nbsp;&nbsp;&nbsp; 435269 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527968 |
| **Media — 0.3%** | **Media — 0.3%** | **Media — 0.3%** |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC/Charter Communications Operating Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 06/01/2041 | &nbsp;&nbsp; 441000 | &nbsp;&nbsp;&nbsp;&nbsp; 314195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 04/01/2053 | &nbsp;&nbsp; 371000 | &nbsp;&nbsp;&nbsp;&nbsp; 305895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 05/01/2047 | &nbsp;&nbsp; 91000 | &nbsp;&nbsp;&nbsp;&nbsp; 77165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 10/23/2035 | &nbsp;&nbsp; 224000 | &nbsp;&nbsp;&nbsp;&nbsp; 231572 |
| &nbsp;&nbsp;&nbsp;Time Warner Cable Enterprises LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.38%, 07/15/2033 | &nbsp;&nbsp; 426000 | &nbsp;&nbsp;&nbsp;&nbsp; 491062 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1419889 |
| **Mining — 0.4%** | **Mining — 0.4%** | **Mining — 0.4%** |
| &nbsp;&nbsp;&nbsp;Anglo American Capital PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 09/10/2030\* | &nbsp;&nbsp; 1034000 | &nbsp;&nbsp;&nbsp;&nbsp; 932925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 03/16/2029\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 04/01/2030\* | &nbsp;&nbsp; 422000 | &nbsp;&nbsp;&nbsp;&nbsp; 438292 |
| &nbsp;&nbsp;&nbsp;Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 09/01/2030\* | &nbsp;&nbsp; 334000 | &nbsp;&nbsp;&nbsp;&nbsp; 300534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.85%, 04/27/2031\* | &nbsp;&nbsp; 139000 | &nbsp;&nbsp;&nbsp;&nbsp; 125092 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1991980 |
| **Oil & Gas — 0.7%** | **Oil & Gas — 0.7%** | **Oil & Gas — 0.7%** |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.72%, 01/12/2032 | &nbsp;&nbsp; 896000 | &nbsp;&nbsp;&nbsp;&nbsp; 797970 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 04/18/2034 | &nbsp;&nbsp; 282000 | &nbsp;&nbsp;&nbsp;&nbsp; 282667 |
| &nbsp;&nbsp;&nbsp;Eni SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 09/12/2028\* | &nbsp;&nbsp; 762000 | &nbsp;&nbsp;&nbsp;&nbsp; 766849 |
| &nbsp;&nbsp;&nbsp;EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 02/01/2034 | &nbsp;&nbsp; 669000 | &nbsp;&nbsp;&nbsp;&nbsp; 687938 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 09/15/2044 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 166897 |
| &nbsp;&nbsp;&nbsp;Phillips 66 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15%, 12/15/2030 | &nbsp;&nbsp; 592000 | &nbsp;&nbsp;&nbsp;&nbsp; 520189 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3222510 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 06/01/2033 | $535000 | &nbsp;&nbsp;$537868 |
| **Pipelines — 0.6%** | **Pipelines — 0.6%** | **Pipelines — 0.6%** |
| &nbsp;&nbsp;&nbsp;Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 04/05/2034 | &nbsp;&nbsp; 695000 | &nbsp;&nbsp;&nbsp;&nbsp; 711212 |
| &nbsp;&nbsp;&nbsp;Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 02/15/2033 | &nbsp;&nbsp; 487000 | &nbsp;&nbsp;&nbsp;&nbsp; 504285 |
| &nbsp;&nbsp;&nbsp;Plains All American Pipeline LP/PAA Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 09/15/2030 | &nbsp;&nbsp; 397000 | &nbsp;&nbsp;&nbsp;&nbsp; 378356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 09/15/2034 | &nbsp;&nbsp; 216000 | &nbsp;&nbsp;&nbsp;&nbsp; 219089 |
| &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 05/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99507 |
| &nbsp;&nbsp;&nbsp;Spectra Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 10/15/2026 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 172343 |
| &nbsp;&nbsp;&nbsp;Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 02/01/2033 | &nbsp;&nbsp; 162000 | &nbsp;&nbsp;&nbsp;&nbsp; 151456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 03/15/2033 | &nbsp;&nbsp; 496000 | &nbsp;&nbsp;&nbsp;&nbsp; 521623 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2757871 |
| **REITS — 0.6%** | **REITS — 0.6%** | **REITS — 0.6%** |
| &nbsp;&nbsp;&nbsp;Boston Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55%, 04/01/2032 | &nbsp;&nbsp; 259000 | &nbsp;&nbsp;&nbsp;&nbsp; 219291 |
| &nbsp;&nbsp;&nbsp;Brixmor Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 07/01/2030 | &nbsp;&nbsp; 355000 | &nbsp;&nbsp;&nbsp;&nbsp; 343901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 05/15/2029 | &nbsp;&nbsp; 39000 | &nbsp;&nbsp;&nbsp;&nbsp; 38306 |
| &nbsp;&nbsp;&nbsp;Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 09/01/2027 | &nbsp;&nbsp; 507000 | &nbsp;&nbsp;&nbsp;&nbsp; 497656 |
| &nbsp;&nbsp;&nbsp;Equinix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.80%, 07/15/2027 | &nbsp;&nbsp; 294000 | &nbsp;&nbsp;&nbsp;&nbsp; 279371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 05/15/2031 | &nbsp;&nbsp; 393000 | &nbsp;&nbsp;&nbsp;&nbsp; 348490 |
| &nbsp;&nbsp;&nbsp;GLP Capital LP/GLP Financing II, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 01/15/2029 | &nbsp;&nbsp; 308000 | &nbsp;&nbsp;&nbsp;&nbsp; 310831 |
| &nbsp;&nbsp;&nbsp;Public Storage Operating Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 08/01/2033 | &nbsp;&nbsp; 910000 | &nbsp;&nbsp;&nbsp;&nbsp; 929366 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 01/15/2031 | &nbsp;&nbsp; 97000 | &nbsp;&nbsp;&nbsp;&nbsp; 90670 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3057882 |
| **Retail — 0.2%** | **Retail — 0.2%** | **Retail — 0.2%** |
| &nbsp;&nbsp;&nbsp;Alimentation Couche-Tard, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.44%, 05/13/2041\* | &nbsp;&nbsp; 483000 | &nbsp;&nbsp;&nbsp;&nbsp; 361255 |
| &nbsp;&nbsp;&nbsp;Genuine Parts Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 02/01/2032 | &nbsp;&nbsp; 802000 | &nbsp;&nbsp;&nbsp;&nbsp; 700435 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1061690 |
| **Semiconductors — 0.1%** | **Semiconductors — 0.1%** | **Semiconductors — 0.1%** |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 11/15/2032 | &nbsp;&nbsp; 288000 | &nbsp;&nbsp;&nbsp;&nbsp; 278373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.93%, 05/15/2037\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 144955 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423328 |
| **Software — 0.1%** | **Software — 0.1%** | **Software — 0.1%** |
| &nbsp;&nbsp;&nbsp;Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 06/01/2030 | &nbsp;&nbsp; 136000 | &nbsp;&nbsp;&nbsp;&nbsp; 123996 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 02/06/2033 | &nbsp;&nbsp; 153000 | &nbsp;&nbsp;&nbsp;&nbsp; 152490 |
| &nbsp;&nbsp;&nbsp;Roper Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 06/30/2030 | &nbsp;&nbsp; 261000 | &nbsp;&nbsp;&nbsp;&nbsp; 231251 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507737 |
| **Telecommunications — 0.7%** | **Telecommunications — 0.7%** | **Telecommunications — 0.7%** |
| &nbsp;&nbsp;&nbsp;NTT Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 07/16/2035\* | &nbsp;&nbsp; 969000 | &nbsp;&nbsp;&nbsp;&nbsp; 984018 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA MFS Total Return Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| &nbsp;&nbsp;&nbsp;Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 03/15/2032 | $1117000 | &nbsp;&nbsp;$1040971 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.05%, 02/15/2028 | &nbsp;&nbsp; 399000 | &nbsp;&nbsp;&nbsp;&nbsp; 376596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 04/15/2050 | &nbsp;&nbsp; 473000 | &nbsp;&nbsp;&nbsp;&nbsp; 388486 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 03/22/2030 | &nbsp;&nbsp; 208000 | &nbsp;&nbsp;&nbsp;&nbsp; 196232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.81%, 03/15/2039 | &nbsp;&nbsp; 372000 | &nbsp;&nbsp;&nbsp;&nbsp; 347096 |
| &nbsp;&nbsp;&nbsp;Vodafone Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 02/10/2053 | &nbsp;&nbsp; 166000 | &nbsp;&nbsp;&nbsp;&nbsp; 156886 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3490285 |
| **Total Corporate Bonds & Notes<br> (cost $63,688,443)** |  | &nbsp;&nbsp;&nbsp;&nbsp;60791124 |
| **ASSET BACKED SECURITIES — 1.8%** | **ASSET BACKED SECURITIES — 1.8%** | **ASSET BACKED SECURITIES — 1.8%** |
| **Auto Loan Receivables — 0.5%** | **Auto Loan Receivables — 0.5%** | **Auto Loan Receivables — 0.5%** |
| &nbsp;&nbsp;&nbsp;AmeriCredit Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class A2A<br> 5.75%, 02/18/2028 | &nbsp;&nbsp; 73655 | &nbsp;&nbsp;&nbsp;&nbsp; 73771 |
| &nbsp;&nbsp;&nbsp;ARI Fleet Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-B, Class A2<br> 6.05%, 07/15/2032\* | &nbsp;&nbsp; 53647 | &nbsp;&nbsp;&nbsp;&nbsp; 54040 |
| &nbsp;&nbsp;&nbsp;Credit Acceptance Auto Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-3A, Class A<br> 6.39%, 08/15/2033\* | &nbsp;&nbsp; 124000 | &nbsp;&nbsp;&nbsp;&nbsp; 124904 |
| &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-4, Class A2<br> 4.69%, 07/20/2027\* | &nbsp;&nbsp; 148000 | &nbsp;&nbsp;&nbsp;&nbsp; 148126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1, Class A2<br> 5.51%, 01/22/2029\* | &nbsp;&nbsp; 305393 | &nbsp;&nbsp;&nbsp;&nbsp; 306205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-3, Class A2<br> 6.40%, 03/20/2030\* | &nbsp;&nbsp; 179155 | &nbsp;&nbsp;&nbsp;&nbsp; 181607 |
| &nbsp;&nbsp;&nbsp;GLS Auto Select Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1A, Class A2<br> 6.27%, 08/16/2027\* | &nbsp;&nbsp; 7136 | &nbsp;&nbsp;&nbsp;&nbsp; 7140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-2A, Class A2<br> 6.37%, 06/15/2028\* | &nbsp;&nbsp; 26600 | &nbsp;&nbsp;&nbsp;&nbsp; 26776 |
| &nbsp;&nbsp;&nbsp;Hyundai Auto Lease Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-B, Class A2A<br> 4.58%, 09/15/2027\* | &nbsp;&nbsp; 306000 | &nbsp;&nbsp;&nbsp;&nbsp; 306399 |
| &nbsp;&nbsp;&nbsp;Nissan Master Owner Trust Receivables FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-A, Class A<br> 5.01%, (SOFR30A+0.67%), 02/15/2028\* | &nbsp;&nbsp; 325724 | &nbsp;&nbsp;&nbsp;&nbsp; 326027 |
| &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1, Class A2<br> 4.76%, 08/16/2027 | &nbsp;&nbsp; 465419 | &nbsp;&nbsp;&nbsp;&nbsp; 465449 |
| &nbsp;&nbsp;&nbsp;SBNA Auto Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-C, Class A2<br> 4.94%, 11/20/2026\* | &nbsp;&nbsp; 19398 | &nbsp;&nbsp;&nbsp;&nbsp; 19406 |
| &nbsp;&nbsp;&nbsp;Stellantis Financial Underwritten Enhanced Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-AA, Class A2<br> 4.63%, 07/20/2027\* | &nbsp;&nbsp; 377496 | &nbsp;&nbsp;&nbsp;&nbsp; 377818 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2417668 |
| **Home Equity — 0.0%** | **Home Equity — 0.0%** | **Home Equity — 0.0%** |
| &nbsp;&nbsp;&nbsp;Bayview Financial Revolving Asset Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-E, Class M1<br> 6.07%, (TSFR1M+1.71%), 12/28/2040\* | &nbsp;&nbsp; 43436 | &nbsp;&nbsp;&nbsp;&nbsp; 95577 |
| &nbsp;&nbsp;&nbsp;GMACM Home Equity Loan Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-HE3, Class A3<br> 5.81%, 10/25/2036(2) | &nbsp;&nbsp; 10476 | &nbsp;&nbsp;&nbsp;&nbsp; 10337 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Home Equity (continued)** | **Home Equity (continued)** | **Home Equity (continued)** |
| &nbsp;&nbsp;&nbsp;Home Equity Loan Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-HS2, Class AI3<br> 3.50%, 12/25/2035(2) | $11437 | &nbsp;&nbsp;$259 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106173 |
| **Other Asset Backed Securities — 1.3%** | **Other Asset Backed Securities — 1.3%** | **Other Asset Backed Securities — 1.3%** |
| &nbsp;&nbsp;&nbsp;Affirm Asset Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-X1, Class A<br> 5.08%, 04/15/2030\* | &nbsp;&nbsp; 103593 | &nbsp;&nbsp;&nbsp;&nbsp; 103647 |
| &nbsp;&nbsp;&nbsp;Bain Capital Credit CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-4A, Class A1R<br> 6.08%, (TSFR3M+1.75%), 10/20/2036\* | &nbsp;&nbsp; 293336 | &nbsp;&nbsp;&nbsp;&nbsp; 293869 |
| &nbsp;&nbsp;&nbsp;Business Jet Securities LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A<br> 6.20%, 05/15/2039\* | &nbsp;&nbsp; 204154 | &nbsp;&nbsp;&nbsp;&nbsp; 207874 |
| &nbsp;&nbsp;&nbsp;Dryden 55 CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-55A, Class A1<br> 5.60%, (TSFR3M+1.28%), 04/15/2031\* | &nbsp;&nbsp; 312313 | &nbsp;&nbsp;&nbsp;&nbsp; 312475 |
| &nbsp;&nbsp;&nbsp;Dryden 86 CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-86A, Class BR2<br> 5.92%, (TSFR3M+1.60%), 07/17/2034\* | &nbsp;&nbsp; 1199001 | &nbsp;&nbsp;&nbsp;&nbsp; 1199600 |
| &nbsp;&nbsp;&nbsp;Dryden XXVI Senior Loan Fund FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-26A, Class AR<br> 5.48%, (TSFR3M+1.16%), 04/15/2029\* | &nbsp;&nbsp; 95117 | &nbsp;&nbsp;&nbsp;&nbsp; 95296 |
| &nbsp;&nbsp;&nbsp;Kubota Credit Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-2A, Class A2<br> 5.61%, 07/15/2026\* | &nbsp;&nbsp; 6712 | &nbsp;&nbsp;&nbsp;&nbsp; 6715 |
| &nbsp;&nbsp;&nbsp;Magnetite XIX, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-19A, Class B1RR<br> 5.77%, (TSFR3M+1.45%), 04/17/2034\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 249892 |
| &nbsp;&nbsp;&nbsp;Neuberger Berman CLO XX, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-20A, Class A1R3<br> 5.47%, (TSFR3M+1.15%), 04/15/2039\* | &nbsp;&nbsp; 385000 | &nbsp;&nbsp;&nbsp;&nbsp; 385056 |
| &nbsp;&nbsp;&nbsp;OneMain Financial Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-3A, Class A<br> 5.94%, 05/15/2034\* | &nbsp;&nbsp; 285837 | &nbsp;&nbsp;&nbsp;&nbsp; 287192 |
| &nbsp;&nbsp;&nbsp;Palmer Square Loan Funding, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-3A, Class A2<br> 5.96%, (TSFR3M+1.65%), 08/08/2032\* | &nbsp;&nbsp; 1108526 | &nbsp;&nbsp;&nbsp;&nbsp; 1109400 |
| &nbsp;&nbsp;&nbsp;Parallel, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1A, Class A2R<br> 6.13%, (TSFR3M+1.80%), 07/20/2036\* | &nbsp;&nbsp; 426070 | &nbsp;&nbsp;&nbsp;&nbsp; 426981 |
| &nbsp;&nbsp;&nbsp;Rockford Tower CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-1A, Class A2RR<br> 5.63%, (TSFR3M+1.30%), 01/20/2036\* | &nbsp;&nbsp; 1187485 | &nbsp;&nbsp;&nbsp;&nbsp; 1178527 |
| &nbsp;&nbsp;&nbsp;Voya, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-4A, Class A2R3<br> 6.03%, (TSFR3M+1.71%), 10/15/2030\* | &nbsp;&nbsp; 425864 | &nbsp;&nbsp;&nbsp;&nbsp; 426184 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6282708 |
| **Total Asset Backed Securities<br> (cost $8,760,319)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8806549 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 4.7%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 4.7%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 4.7%** |
| **Commercial and Residential — 4.4%** | **Commercial and Residential — 4.4%** | **Commercial and Residential — 4.4%** |
| &nbsp;&nbsp;&nbsp;Angel Oak Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-9, Class A1<br> 5.14%, 09/25/2069\* | &nbsp;&nbsp; 334626 | &nbsp;&nbsp;&nbsp;&nbsp; 331804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-10, Class A1<br> 5.35%, 10/25/2069\* | &nbsp;&nbsp; 588756 | &nbsp;&nbsp;&nbsp;&nbsp; 585498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-12, Class A1<br> 5.65%, 10/25/2069\* | &nbsp;&nbsp; 521633 | &nbsp;&nbsp;&nbsp;&nbsp; 521028 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA MFS Total Return Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** |
| **Commercial and Residential (continued)** | **Commercial and Residential (continued)** | **Commercial and Residential (continued)** |
| &nbsp;&nbsp;&nbsp;Arbor Realty Commercial Real Estate Notes, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL3, Class B<br> 6.06%, (TSFR1M+1.71%), 08/15/2034\* | $383500 | &nbsp;&nbsp;$382851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-FL1, Class B<br> 6.44%, (SOFR30A+2.10%), 01/15/2037\* | &nbsp;&nbsp; 1098000 | &nbsp;&nbsp;&nbsp;&nbsp; 1099372 |
| &nbsp;&nbsp;&nbsp;ARDN 2025-ARCP Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-ARCP, Class A<br> 6.09%, (TSFR1M+1.75%), 06/15/2035\* | &nbsp;&nbsp; 906000 | &nbsp;&nbsp;&nbsp;&nbsp; 906387 |
| &nbsp;&nbsp;&nbsp;AREIT Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-CRE6, Class B<br> 6.20%, (SOFR30A+1.85%), 01/20/2037\* | &nbsp;&nbsp; 668000 | &nbsp;&nbsp;&nbsp;&nbsp; 664660 |
| &nbsp;&nbsp;&nbsp;BANK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-BNK46, Class A4<br> 5.75%, 08/15/2056 | &nbsp;&nbsp; 426152 | &nbsp;&nbsp;&nbsp;&nbsp; 444266 |
| &nbsp;&nbsp;&nbsp;Benchmark Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-V3, Class A3<br> 6.36%, 07/15/2056(2) | &nbsp;&nbsp; 30512 | &nbsp;&nbsp;&nbsp;&nbsp; 31808 |
| &nbsp;&nbsp;&nbsp;BSPRT Issuer, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL6, Class AS<br> 5.76%, (TSFR1M+1.41%), 03/15/2036\* | &nbsp;&nbsp; 726850 | &nbsp;&nbsp;&nbsp;&nbsp; 726846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-FL8, Class B<br> 6.39%, (SOFR30A+2.05%), 02/15/2037\* | &nbsp;&nbsp; 392500 | &nbsp;&nbsp;&nbsp;&nbsp; 391017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL7, Class B<br> 6.51%, (TSFR1M+2.16%), 12/15/2038\* | &nbsp;&nbsp; 182000 | &nbsp;&nbsp;&nbsp;&nbsp; 181890 |
| &nbsp;&nbsp;&nbsp;BX Commercial Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-BCAT, Class A<br> 5.73%, (TSFR1M+1.38%), 08/15/2042\* | &nbsp;&nbsp; 587000 | &nbsp;&nbsp;&nbsp;&nbsp; 587000 |
| &nbsp;&nbsp;&nbsp;BXMT, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL4, Class AS<br> 5.76%, (TSFR1M+1.41%), 05/15/2038\* | &nbsp;&nbsp; 1187000 | &nbsp;&nbsp;&nbsp;&nbsp; 1176032 |
| &nbsp;&nbsp;&nbsp;COLT Mtg. Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-5, Class A1<br> 5.12%, 08/25/2069\* | &nbsp;&nbsp; 384243 | &nbsp;&nbsp;&nbsp;&nbsp; 381672 |
| &nbsp;&nbsp;&nbsp;Connecticut Avenue Securities Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-R02, Class 1A1<br> 5.35%, (SOFR30A+1.00%), 02/25/2045\* | &nbsp;&nbsp; 169640 | &nbsp;&nbsp;&nbsp;&nbsp; 169640 |
| &nbsp;&nbsp;&nbsp;Dwight Issuer LLC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-FL1, Class A<br> 5.96%, (TSFR1M+1.66%), 09/18/2042\* | &nbsp;&nbsp; 676000 | &nbsp;&nbsp;&nbsp;&nbsp; 677267 |
| &nbsp;&nbsp;&nbsp;ELM Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-ELM, Class B10<br> 6.00%, 06/10/2039\*(2) | &nbsp;&nbsp; 537460 | &nbsp;&nbsp;&nbsp;&nbsp; 540529 |
| &nbsp;&nbsp;&nbsp;Greystone CRE Notes LLC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-FL4, Class AS<br> 6.45%, (TSFR1M+2.14%), 01/15/2043\* | &nbsp;&nbsp; 125500 | &nbsp;&nbsp;&nbsp;&nbsp; 125491 |
| &nbsp;&nbsp;&nbsp;LoanCore Issuer, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-CRE5, Class AS<br> 6.21%, (TSFR1M+1.86%), 07/15/2036\* | &nbsp;&nbsp; 1249000 | &nbsp;&nbsp;&nbsp;&nbsp; 1248642 |
| &nbsp;&nbsp;&nbsp;MF1 LLC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-FL19, Class A<br> 5.84%, (TSFR1M+1.49%), 05/18/2042\* | &nbsp;&nbsp; 470808 | &nbsp;&nbsp;&nbsp;&nbsp; 473456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-FL16, Class A<br> 5.89%, (TSFR1M+1.54%), 11/18/2039\* | &nbsp;&nbsp; 1096998 | &nbsp;&nbsp;&nbsp;&nbsp; 1100425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-FL17, Class AS<br> 5.92%, (TSFR1M+1.57%), 02/18/2040\* | &nbsp;&nbsp; 951968 | &nbsp;&nbsp;&nbsp;&nbsp; 949589 |
| &nbsp;&nbsp;&nbsp;MF1 Multifamily Housing Mtg. Loan Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL5, Class AS<br> 5.66%, (TSFR1M+1.31%), 07/15/2036\* | &nbsp;&nbsp; 1168424 | &nbsp;&nbsp;&nbsp;&nbsp; 1165528 |
| &nbsp;&nbsp;&nbsp;MF1, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-FL4, Class A<br> 6.16%, (TSFR1M+1.81%), 12/15/2035\* | &nbsp;&nbsp; 51642 | &nbsp;&nbsp;&nbsp;&nbsp; 51642 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Commercial and Residential (continued)** | **Commercial and Residential (continued)** | **Commercial and Residential (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-FL8, Class B<br> 6.30%, (TSFR1M+1.95%), 02/19/2037\* | $486092 | &nbsp;&nbsp;$484185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-FL15, Class AS<br> 6.39%, (TSFR1M+2.04%), 08/18/2041\* | &nbsp;&nbsp; 541000 | &nbsp;&nbsp;&nbsp;&nbsp; 541339 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C34, Class A4<br> 3.54%, 11/15/2052 | &nbsp;&nbsp; 324355 | &nbsp;&nbsp;&nbsp;&nbsp; 317020 |
| &nbsp;&nbsp;&nbsp;MSWF Commercial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-2, Class A5<br> 6.01%, 12/15/2056(2) | &nbsp;&nbsp; 472097 | &nbsp;&nbsp;&nbsp;&nbsp; 502981 |
| &nbsp;&nbsp;&nbsp;OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-NQM15, Class A1<br> 5.32%, 10/25/2064\* | &nbsp;&nbsp; 222914 | &nbsp;&nbsp;&nbsp;&nbsp; 221809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM13, Class A1<br> 5.44%, 05/25/2065\* | &nbsp;&nbsp; 188618 | &nbsp;&nbsp;&nbsp;&nbsp; 188563 |
| &nbsp;&nbsp;&nbsp;OBX Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM1, Class A1<br> 5.55%, 12/25/2064\*(2) | &nbsp;&nbsp; 287770 | &nbsp;&nbsp;&nbsp;&nbsp; 287820 |
| &nbsp;&nbsp;&nbsp;PFP, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-12, Class AS<br> 6.09%, (TSFR1M+1.74%), 12/18/2042\* | &nbsp;&nbsp; 663000 | &nbsp;&nbsp;&nbsp;&nbsp; 663622 |
| &nbsp;&nbsp;&nbsp;PRM Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-PRM6, Class A<br> 4.48%, 07/05/2033\*(2) | &nbsp;&nbsp; 348143 | &nbsp;&nbsp;&nbsp;&nbsp; 344184 |
| &nbsp;&nbsp;&nbsp;Provident Funding Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2, Class A4<br> 5.50%, 06/25/2055\*(2) | &nbsp;&nbsp; 837619 | &nbsp;&nbsp;&nbsp;&nbsp; 833871 |
| &nbsp;&nbsp;&nbsp;Ready Capital Mtg. Financing LLC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL7, Class B<br> 6.27%, (TSFR1M+1.91%), 11/25/2036\* | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 238888 |
| &nbsp;&nbsp;&nbsp;STWD, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-FL3, Class AS<br> 6.14%, (SOFR30A+1.80%), 11/15/2038\* | &nbsp;&nbsp; 1128500 | &nbsp;&nbsp;&nbsp;&nbsp; 1123562 |
| &nbsp;&nbsp;&nbsp;TRTX Issuer, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL4, Class A<br> 5.66%, (TSFR1M+1.31%), 03/15/2038\* | &nbsp;&nbsp; 498977 | &nbsp;&nbsp;&nbsp;&nbsp; 498078 |
| &nbsp;&nbsp;&nbsp;Verus Securitization Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-8, Class A1<br> 5.36%, 10/25/2069\*(2) | &nbsp;&nbsp; 132171 | &nbsp;&nbsp;&nbsp;&nbsp; 131879 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;21292141 |
| **U.S. Government Agency — 0.3%** | **U.S. Government Agency — 0.3%** | **U.S. Government Agency — 0.3%** |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. Multifamily Structured Pass Through Certs. VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K071, Class XAM<br> 0.20%, 11/25/2027(2)(3) | &nbsp;&nbsp; 3192000 | &nbsp;&nbsp;&nbsp;&nbsp; 14514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K070, Class XAM<br> 0.25%, 12/25/2027(2)(3) | &nbsp;&nbsp; 1984000 | &nbsp;&nbsp;&nbsp;&nbsp; 12060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K069, Class XAM<br> 0.28%, 09/25/2027(2)(3) | &nbsp;&nbsp; 2042000 | &nbsp;&nbsp;&nbsp;&nbsp; 13652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K071, Class X1<br> 0.28%, 11/25/2027(2)(3) | &nbsp;&nbsp; 2148873 | &nbsp;&nbsp;&nbsp;&nbsp; 11215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K072, Class XAM<br> 0.29%, 12/25/2027(2)(3) | &nbsp;&nbsp; 2208000 | &nbsp;&nbsp;&nbsp;&nbsp; 16092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K154, Class X1<br> 0.29%, 11/25/2032(2)(3) | &nbsp;&nbsp; 1579822 | &nbsp;&nbsp;&nbsp;&nbsp; 23762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K070, Class X1<br> 0.32%, 11/25/2027(2)(3) | &nbsp;&nbsp; 1932437 | &nbsp;&nbsp;&nbsp;&nbsp; 12390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K127, Class X1<br> 0.32%, 01/25/2031(2)(3) | &nbsp;&nbsp; 1111439 | &nbsp;&nbsp;&nbsp;&nbsp; 15170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K068, Class XAM<br> 0.33%, 08/25/2027(2)(3) | &nbsp;&nbsp; 1898000 | &nbsp;&nbsp;&nbsp;&nbsp; 13040 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA MFS Total Return Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** |
| **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K134, Class XAM<br> 0.35%, 11/25/2031(2)(3) | $1708147 | &nbsp;&nbsp;$33321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K072, Class X1<br> 0.36%, 12/25/2027(2)(3) | &nbsp;&nbsp; 3295677 | &nbsp;&nbsp;&nbsp;&nbsp; 24766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K068, Class X1<br> 0.41%, 08/25/2027(2)(3) | &nbsp;&nbsp; 1211731 | &nbsp;&nbsp;&nbsp;&nbsp; 8746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K137, Class XAM<br> 0.50%, 12/25/2031(2)(3) | &nbsp;&nbsp; 1554125 | &nbsp;&nbsp;&nbsp;&nbsp; 41719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K128, Class X1<br> 0.51%, 03/25/2031(2)(3) | &nbsp;&nbsp; 896068 | &nbsp;&nbsp;&nbsp;&nbsp; 20705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K132, Class X1<br> 0.51%, 08/25/2031(2)(3) | &nbsp;&nbsp; 353348 | &nbsp;&nbsp;&nbsp;&nbsp; 8997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K133, Class XAM<br> 0.54%, 09/25/2031(2)(3) | &nbsp;&nbsp; 1156618 | &nbsp;&nbsp;&nbsp;&nbsp; 33310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K067, Class X1<br> 0.56%, 07/25/2027(2)(3) | &nbsp;&nbsp; 2216739 | &nbsp;&nbsp;&nbsp;&nbsp; 19963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K136, Class XAM<br> 0.57%, 12/25/2031(2)(3) | &nbsp;&nbsp; 2614411 | &nbsp;&nbsp;&nbsp;&nbsp; 78100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K066, Class XAM<br> 0.64%, 06/25/2027(2)(3) | &nbsp;&nbsp; 2696000 | &nbsp;&nbsp;&nbsp;&nbsp; 34399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K066, Class X1<br> 0.73%, 06/25/2027(2)(3) | &nbsp;&nbsp; 837481 | &nbsp;&nbsp;&nbsp;&nbsp; 8894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K128, Class XAM<br> 0.73%, 03/25/2031(2)(3) | &nbsp;&nbsp; 386416 | &nbsp;&nbsp;&nbsp;&nbsp; 14093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K125, Class XAM<br> 0.78%, 01/25/2031(2)(3) | &nbsp;&nbsp; 463094 | &nbsp;&nbsp;&nbsp;&nbsp; 17381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K132, Class XAM<br> 0.85%, 09/25/2031(2)(3) | &nbsp;&nbsp; 334404 | &nbsp;&nbsp;&nbsp;&nbsp; 14752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K124, Class XAM<br> 0.94%, 01/25/2031(2)(3) | &nbsp;&nbsp; 313326 | &nbsp;&nbsp;&nbsp;&nbsp; 13890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K131, Class XAM<br> 0.94%, 07/25/2031(2)(3) | &nbsp;&nbsp; 261462 | &nbsp;&nbsp;&nbsp;&nbsp; 12828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K097, Class X1<br> 1.08%, 07/25/2029(2)(3) | &nbsp;&nbsp; 159910 | &nbsp;&nbsp;&nbsp;&nbsp; 5796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K122, Class XAM<br> 1.08%, 11/25/2030(2)(3) | &nbsp;&nbsp; 283086 | &nbsp;&nbsp;&nbsp;&nbsp; 14157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K098, Class X1<br> 1.14%, 08/25/2029(2)(3) | &nbsp;&nbsp; 1011272 | &nbsp;&nbsp;&nbsp;&nbsp; 39213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K118, Class XAM<br> 1.17%, 09/25/2030(2)(3) | &nbsp;&nbsp; 160069 | &nbsp;&nbsp;&nbsp;&nbsp; 8361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K129, Class XAM<br> 1.21%, 05/25/2031(2)(3) | &nbsp;&nbsp; 173114 | &nbsp;&nbsp;&nbsp;&nbsp; 10377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K114, Class XAM<br> 1.34%, 06/25/2030(2)(3) | &nbsp;&nbsp; 272251 | &nbsp;&nbsp;&nbsp;&nbsp; 15560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K116, Class XAM<br> 1.60%, 08/25/2030(2)(3) | &nbsp;&nbsp; 246234 | &nbsp;&nbsp;&nbsp;&nbsp; 17237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K112, Class XAM<br> 1.67%, 05/25/2030(2)(3) | &nbsp;&nbsp; 267239 | &nbsp;&nbsp;&nbsp;&nbsp; 18831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K109, Class XAM<br> 1.80%, 04/25/2030(2)(3) | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 14668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K111, Class XAM<br> 1.80%, 05/25/2030(2)(3) | &nbsp;&nbsp; 678770 | &nbsp;&nbsp;&nbsp;&nbsp; 51027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K110, Class XAM<br> 1.84%, 04/25/2030(2)(3) | &nbsp;&nbsp; 547569 | &nbsp;&nbsp;&nbsp;&nbsp; 41370 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 4182, Class QI<br> 3.00%, 02/15/2033(3) | &nbsp;&nbsp; 28023 | &nbsp;&nbsp;&nbsp;&nbsp; 1365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 4474, Class HJ<br> 3.00%, 07/15/2039 | &nbsp;&nbsp; 16153 | &nbsp;&nbsp;&nbsp;&nbsp; 15394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 4096, Class DZ<br> 3.50%, 08/15/2042 | &nbsp;&nbsp; 79499 | &nbsp;&nbsp;&nbsp;&nbsp; 74607 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 4471, Class PI<br> 4.50%, 12/15/2040(3) | $3118 | &nbsp;&nbsp;$288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 3629, Class CZ<br> 5.00%, 01/15/2040 | &nbsp;&nbsp; 22104 | &nbsp;&nbsp;&nbsp;&nbsp; 22533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 3845, Class AI<br> 5.50%, 02/15/2036(3) | &nbsp;&nbsp; 7909 | &nbsp;&nbsp;&nbsp;&nbsp; 1257 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. SCRT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-4, Class MV<br> 3.00%, 02/25/2059 | &nbsp;&nbsp; 56839 | &nbsp;&nbsp;&nbsp;&nbsp; 48680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-3, Class MV<br> 3.50%, 10/25/2058 | &nbsp;&nbsp; 53669 | &nbsp;&nbsp;&nbsp;&nbsp; 49930 |
| &nbsp;&nbsp;&nbsp;Federal National Mtg. Assoc. REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-19, Class AD<br> 2.00%, 04/25/2046 | &nbsp;&nbsp; 23113 | &nbsp;&nbsp;&nbsp;&nbsp; 21358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-1, Class YI<br> 3.00%, 02/25/2033(3) | &nbsp;&nbsp; 28931 | &nbsp;&nbsp;&nbsp;&nbsp; 2055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-43, Class AH<br> 3.25%, 05/25/2040 | &nbsp;&nbsp; 11549 | &nbsp;&nbsp;&nbsp;&nbsp; 10941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-113, Class GB<br> 4.00%, 10/25/2040 | &nbsp;&nbsp; 15732 | &nbsp;&nbsp;&nbsp;&nbsp; 15492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-40, Class IQ<br> 4.00%, 07/25/2046(3) | &nbsp;&nbsp; 46183 | &nbsp;&nbsp;&nbsp;&nbsp; 8497 |
| &nbsp;&nbsp;&nbsp;Government National Mtg. Assoc. REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-123, Class MA<br> 4.00%, 07/20/2041 | &nbsp;&nbsp; 23484 | &nbsp;&nbsp;&nbsp;&nbsp; 22704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-12, Class KN<br> 4.50%, 09/20/2041 | &nbsp;&nbsp; 15469 | &nbsp;&nbsp;&nbsp;&nbsp; 15451 |
| &nbsp;&nbsp;&nbsp;Government National Mtg. Assoc. REMIC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-40, Class FX<br> 4.57%, (TSFR1M+0.21%), 09/20/2041 | &nbsp;&nbsp; 158697 | &nbsp;&nbsp;&nbsp;&nbsp; 154800 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219708 |
| **Total Collateralized Mortgage Obligations<br> (cost $22,667,577)** |  | &nbsp;&nbsp;&nbsp;&nbsp;22511849 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 20.4%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 20.4%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 20.4%** |
| **U.S. Government — 10.5%** | **U.S. Government — 10.5%** | **U.S. Government — 10.5%** |
| &nbsp;&nbsp;&nbsp;United States Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 08/15/2046 to 02/15/2052 | &nbsp;&nbsp;12800000 | &nbsp;&nbsp;&nbsp;&nbsp; 8131977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 02/15/2042 | &nbsp;&nbsp; 3950000 | &nbsp;&nbsp;&nbsp;&nbsp; 2844617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 02/15/2045 | &nbsp;&nbsp; 3429000 | &nbsp;&nbsp;&nbsp;&nbsp; 2385164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/15/2052 | &nbsp;&nbsp; 1674000 | &nbsp;&nbsp;&nbsp;&nbsp; 1442844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 02/15/2054 | &nbsp;&nbsp; 2850000 | &nbsp;&nbsp;&nbsp;&nbsp; 2562106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 11/15/2054 | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp;&nbsp;&nbsp; 1641719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 11/15/2053 | &nbsp;&nbsp; 1780000 | &nbsp;&nbsp;&nbsp;&nbsp; 1737655 |
| &nbsp;&nbsp;&nbsp;United States Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 12/31/2027 | &nbsp;&nbsp; 7800000 | &nbsp;&nbsp;&nbsp;&nbsp; 7794820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 06/30/2029 to 11/15/2034 | &nbsp;&nbsp;15180000 | &nbsp;&nbsp;&nbsp;&nbsp; 15270000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 04/15/2027(4) | &nbsp;&nbsp; 6800000 | &nbsp;&nbsp;&nbsp;&nbsp; 6856313 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;50667215 |
| **U.S. Government Agency — 9.9%** | **U.S. Government Agency — 9.9%** | **U.S. Government Agency — 9.9%** |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 12/01/2050 to 06/01/2051 | &nbsp;&nbsp; 737804 | &nbsp;&nbsp;&nbsp;&nbsp; 548897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 02/01/2042 to 05/01/2052 | &nbsp;&nbsp; 915063 | &nbsp;&nbsp;&nbsp;&nbsp; 740292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 08/01/2040 to 09/01/2052 | &nbsp;&nbsp; 4207207 | &nbsp;&nbsp;&nbsp;&nbsp; 3464080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 01/01/2038 to 07/01/2052 | &nbsp;&nbsp; 2875905 | &nbsp;&nbsp;&nbsp;&nbsp; 2511346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 11/01/2037 to 05/01/2052 | &nbsp;&nbsp; 891306 | &nbsp;&nbsp;&nbsp;&nbsp; 824702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 08/01/2037 to 05/01/2052 | &nbsp;&nbsp; 459660 | &nbsp;&nbsp;&nbsp;&nbsp; 436473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 04/01/2035 to 10/01/2052 | &nbsp;&nbsp; 786530 | &nbsp;&nbsp;&nbsp;&nbsp; 751675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 09/01/2033 to 06/01/2053 | &nbsp;&nbsp; 1385693 | &nbsp;&nbsp;&nbsp;&nbsp; 1359106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 12/01/2033 to 10/01/2053 | &nbsp;&nbsp; 529386 | &nbsp;&nbsp;&nbsp;&nbsp; 529567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 04/01/2034 to 02/01/2055 | &nbsp;&nbsp; 1379239 | &nbsp;&nbsp;&nbsp;&nbsp; 1404775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 05/01/2034 to 11/01/2054 | &nbsp;&nbsp; 204993 | &nbsp;&nbsp;&nbsp;&nbsp; 212360 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA MFS Total Return Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** |
| **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** |
| &nbsp;&nbsp;&nbsp;Federal National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 02/01/2042 to 04/01/2052 | $380643 | &nbsp;&nbsp;$284100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 02/01/2042 to 03/01/2052 | &nbsp;&nbsp; 2427960 | &nbsp;&nbsp;&nbsp;&nbsp; 1982840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 11/01/2031 to 06/01/2052 | &nbsp;&nbsp; 5487659 | &nbsp;&nbsp;&nbsp;&nbsp; 4592723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 11/01/2028 to 07/01/2052 | &nbsp;&nbsp; 2935046 | &nbsp;&nbsp;&nbsp;&nbsp; 2553971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 04/01/2038 to 12/01/2053 | &nbsp;&nbsp; 2331907 | &nbsp;&nbsp;&nbsp;&nbsp; 2147838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 09/01/2040 to 10/01/2050 | &nbsp;&nbsp; 1208966 | &nbsp;&nbsp;&nbsp;&nbsp; 1154069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 08/01/2033 to 09/01/2052 | &nbsp;&nbsp; 665179 | &nbsp;&nbsp;&nbsp;&nbsp; 652980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 03/01/2026 to 07/01/2053 | &nbsp;&nbsp; 393999 | &nbsp;&nbsp;&nbsp;&nbsp; 391542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 02/01/2033 to 11/01/2053 | &nbsp;&nbsp; 1788242 | &nbsp;&nbsp;&nbsp;&nbsp; 1794262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 04/01/2034 to 03/01/2054 | &nbsp;&nbsp; 740240 | &nbsp;&nbsp;&nbsp;&nbsp; 758331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 06/01/2031 to 01/01/2054 | &nbsp;&nbsp; 1020230 | &nbsp;&nbsp;&nbsp;&nbsp; 1053089 |
| &nbsp;&nbsp;&nbsp;Government National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 01/20/2052 to 04/20/2052 | &nbsp;&nbsp; 2017485 | &nbsp;&nbsp;&nbsp;&nbsp; 1629118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 08/20/2051 to 04/20/2052 | &nbsp;&nbsp; 1901763 | &nbsp;&nbsp;&nbsp;&nbsp; 1600153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 04/20/2045 to 11/20/2052 | &nbsp;&nbsp; 1929022 | &nbsp;&nbsp;&nbsp;&nbsp; 1696605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 12/15/2041 to 03/20/2048 | &nbsp;&nbsp; 666542 | &nbsp;&nbsp;&nbsp;&nbsp; 612192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, August 30 TBA | &nbsp;&nbsp; 625000 | &nbsp;&nbsp;&nbsp;&nbsp; 561501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, September 30 TBA | &nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp; 291168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 01/20/2041 to 10/20/2052 | &nbsp;&nbsp; 917662 | &nbsp;&nbsp;&nbsp;&nbsp; 856114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 07/20/2033 to 12/20/2052 | &nbsp;&nbsp; 2045269 | &nbsp;&nbsp;&nbsp;&nbsp; 1955832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/20/2033 to 10/20/2054 | &nbsp;&nbsp; 1624629 | &nbsp;&nbsp;&nbsp;&nbsp; 1590515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 11/15/2032 to 03/20/2055 | &nbsp;&nbsp; 1718220 | &nbsp;&nbsp;&nbsp;&nbsp; 1717711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 09/15/2032 to 01/15/2038 | &nbsp;&nbsp; 153353 | &nbsp;&nbsp;&nbsp;&nbsp; 157747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, August 30 TBA | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;&nbsp;&nbsp; 1317417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, August 30 TBA | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 256600 |
| &nbsp;&nbsp;&nbsp;Uniform Mtg. Backed Securities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, August 15 TBA | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1089257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, August 30 TBA | &nbsp;&nbsp; 1175000 | &nbsp;&nbsp;&nbsp;&nbsp; 918950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, September 30 TBA | &nbsp;&nbsp; 1175000 | &nbsp;&nbsp;&nbsp;&nbsp; 919455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, August 30 TBA | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 64174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, August 30 TBA | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 66992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, August 30 TBA | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 180497 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;47631016 |
| **Total U.S. Government & Agency Obligations<br> (cost $103,957,661)** |  | &nbsp;&nbsp;&nbsp;&nbsp;98298231 |
| **MUNICIPAL SECURITIES — 0.5%** | **MUNICIPAL SECURITIES — 0.5%** | **MUNICIPAL SECURITIES — 0.5%** |
| &nbsp;&nbsp;&nbsp;Florida State Board of Administration Finance Corp.<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15%, 07/01/2030 | &nbsp;&nbsp; 211000 | &nbsp;&nbsp;&nbsp;&nbsp; 187972 |
| &nbsp;&nbsp;&nbsp;Massachusetts Educational Financing Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.35%, 07/01/2049 | &nbsp;&nbsp; 625000 | &nbsp;&nbsp;&nbsp;&nbsp; 638423 |
| &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.41%, 01/01/2040 | &nbsp;&nbsp; 675000 | &nbsp;&nbsp;&nbsp;&nbsp; 800836 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| &nbsp;&nbsp;&nbsp;Rhode Island Student Loan Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.08%, 12/01/2042 | $520000 | &nbsp;&nbsp;$533994 |
| **Total Municipal Securities<br> (cost $2,058,617)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2161225 |
| **Total Long-Term Investment Securities<br> (cost $431,109,617)** |  | &nbsp;&nbsp;&nbsp;&nbsp;478192183 |
| **SHORT-TERM INVESTMENTS — 1.6%** | **SHORT-TERM INVESTMENTS — 1.6%** |  |
| **U.S. Government Agency — 1.6%** | **U.S. Government Agency — 1.6%** |  |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Bank Disc. Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.18%, 08/01/2025<br> (cost $7,797,000) | &nbsp;&nbsp; 7797000 | &nbsp;&nbsp;&nbsp;&nbsp; 7796082 |
| **TOTAL INVESTMENTS<br> (cost $438,906,617)(5)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101.0% | &nbsp;&nbsp;&nbsp;&nbsp;485988265 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.0) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4984751) |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$481003514 |

---

---

| | |
|:---|:---|
| † | &nbsp;&nbsp;Non-income producing security |
| \* | &nbsp;&nbsp;Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The SA MFS Total Return Portfolio has no right to demand registration of these securities. At July 31, 2025, the aggregate value of these securities was $42,578,688 representing 8.9% of net assets. |
| (1) | &nbsp;&nbsp;Perpetual maturity - maturity date reflects the next call date. |
| (2) | &nbsp;&nbsp;Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. |
| (3) | &nbsp;&nbsp;Interest Only |
| (4) | &nbsp;&nbsp;The security or a portion thereof was pledged as collateral to cover margin requirements for open futures contracts. |
| (5) | &nbsp;&nbsp;See Note 4 for cost of investments on a tax basis. |

---

---

| |
|:---|
| FRS—Floating Rate Security |
| REMIC—Real Estate Mortgage Investment Conduit |
| SCRT—Structured Credit Risk Transfer |
| SOFR30A—US 30 Day Average Secured Overnight Financing Rate |
| TBA—Securities purchased on a forward commitment basis with an approximate principal amount and no definite maturity date. The actual principal amount and maturity date will be determined upon settlement date. |
| TSFR1M—Term Secured Overnight Financing Rate 1 Month |
| TSFR3M—Term Secured Overnight Financing Rate 3 Month |
| VRS—Variable Rate Security |

---

The rates shown on FRS and/or VRS are the current interest rates at July 31, 2025 and unless noted otherwise, the dates shown are the original maturity dates.

#### Futures Contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number<br> of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Expiration<br> Month** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Basis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Value\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation** |
| 38 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury 5 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$4103278 | &nbsp;&nbsp;&nbsp;&nbsp;$4110531 | &nbsp;&nbsp;&nbsp;&nbsp;$7253 |
| 11 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1255790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1290438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34648 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$41901 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA MFS Total Return Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

#### Futures Contracts — (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Numberof<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**ExpirationMonth** | &nbsp;&nbsp;&nbsp;&nbsp;**NotionalBasis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**NotionalValue\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
| 73 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury 2 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$15124347 | &nbsp;&nbsp;&nbsp;&nbsp;$15109859 | &nbsp;&nbsp;&nbsp;&nbsp;$(14488) |
|  |  | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) |  | &nbsp;&nbsp;&nbsp;&nbsp;$27413 |

---

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

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$284117225 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$284117225 |
| Convertible Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1505980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1505980 |
| Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;60791124 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;60791124 |
| Asset Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8806549 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8806549 |
| Collateralized Mortgage Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;22511849 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;22511849 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;98298231 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;98298231 |
| Municipal Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2161225 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2161225 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7796082 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7796082 |
| **Total Investments at Value** | &nbsp;&nbsp;$285623205 | &nbsp;&nbsp;$200365060 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$485988265 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;$41901 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$41901 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;$14488 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$14488 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | &nbsp;&nbsp;Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Mid Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.1%** | **COMMON STOCKS — 99.1%** | **COMMON STOCKS — 99.1%** |
| **Aerospace/Defense — 1.1%** | **Aerospace/Defense — 1.1%** | **Aerospace/Defense — 1.1%** |
| &nbsp;&nbsp;&nbsp;AeroVironment, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5336 | &nbsp;&nbsp;$1428127 |
| &nbsp;&nbsp;&nbsp;Curtiss-Wright Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6318 | &nbsp;&nbsp;&nbsp;&nbsp; 3097210 |
| &nbsp;&nbsp;&nbsp;Hexcel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13480 | &nbsp;&nbsp;&nbsp;&nbsp; 807587 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5332924 |
| **Agriculture — 0.2%** | **Agriculture — 0.2%** | **Agriculture — 0.2%** |
| &nbsp;&nbsp;&nbsp;Darling Ingredients, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;26609 | &nbsp;&nbsp;&nbsp;&nbsp; 861599 |
| **Airlines — 0.5%** | **Airlines — 0.5%** | **Airlines — 0.5%** |
| &nbsp;&nbsp;&nbsp;Alaska Air Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;20423 | &nbsp;&nbsp;&nbsp;&nbsp; 1081602 |
| &nbsp;&nbsp;&nbsp;American Airlines Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;110766 | &nbsp;&nbsp;&nbsp;&nbsp; 1272701 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2354303 |
| **Apparel — 0.9%** | **Apparel — 0.9%** | **Apparel — 0.9%** |
| &nbsp;&nbsp;&nbsp;Capri Holdings, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;19740 | &nbsp;&nbsp;&nbsp;&nbsp; 359071 |
| &nbsp;&nbsp;&nbsp;Columbia Sportswear Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5139 | &nbsp;&nbsp;&nbsp;&nbsp; 290713 |
| &nbsp;&nbsp;&nbsp;Crocs, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9400 | &nbsp;&nbsp;&nbsp;&nbsp; 937462 |
| &nbsp;&nbsp;&nbsp;PVH Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8110 | &nbsp;&nbsp;&nbsp;&nbsp; 595436 |
| &nbsp;&nbsp;&nbsp;Skechers USA, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;21840 | &nbsp;&nbsp;&nbsp;&nbsp; 1381380 |
| &nbsp;&nbsp;&nbsp;Under Armour, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;31933 | &nbsp;&nbsp;&nbsp;&nbsp; 212035 |
| &nbsp;&nbsp;&nbsp;Under Armour, Inc., Class C† | &nbsp;&nbsp;&nbsp;&nbsp;16484 | &nbsp;&nbsp;&nbsp;&nbsp; 103849 |
| &nbsp;&nbsp;&nbsp;VF Corp. | &nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp; 656320 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4536266 |
| **Auto Parts & Equipment — 0.8%** | **Auto Parts & Equipment — 0.8%** | **Auto Parts & Equipment — 0.8%** |
| &nbsp;&nbsp;&nbsp;Autoliv, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11965 | &nbsp;&nbsp;&nbsp;&nbsp; 1334696 |
| &nbsp;&nbsp;&nbsp;Gentex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;37142 | &nbsp;&nbsp;&nbsp;&nbsp; 981292 |
| &nbsp;&nbsp;&nbsp;Goodyear Tire & Rubber Co.† | &nbsp;&nbsp;&nbsp;&nbsp;48024 | &nbsp;&nbsp;&nbsp;&nbsp; 493687 |
| &nbsp;&nbsp;&nbsp;Lear Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8962 | &nbsp;&nbsp;&nbsp;&nbsp; 845027 |
| &nbsp;&nbsp;&nbsp;Visteon Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4597 | &nbsp;&nbsp;&nbsp;&nbsp; 510956 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4165658 |
| **Banks — 6.4%** | **Banks — 6.4%** | **Banks — 6.4%** |
| &nbsp;&nbsp;&nbsp;Associated Banc-Corp. | &nbsp;&nbsp;&nbsp;&nbsp;27382 | &nbsp;&nbsp;&nbsp;&nbsp; 677431 |
| &nbsp;&nbsp;&nbsp;Bank OZK | &nbsp;&nbsp;&nbsp;&nbsp;17711 | &nbsp;&nbsp;&nbsp;&nbsp; 873152 |
| &nbsp;&nbsp;&nbsp;Cadence Bank | &nbsp;&nbsp;&nbsp;&nbsp;25108 | &nbsp;&nbsp;&nbsp;&nbsp; 875014 |
| &nbsp;&nbsp;&nbsp;Columbia Banking System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35231 | &nbsp;&nbsp;&nbsp;&nbsp; 838498 |
| &nbsp;&nbsp;&nbsp;Comerica, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22030 | &nbsp;&nbsp;&nbsp;&nbsp; 1488567 |
| &nbsp;&nbsp;&nbsp;Commerce Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20355 | &nbsp;&nbsp;&nbsp;&nbsp; 1245726 |
| &nbsp;&nbsp;&nbsp;Cullen/Frost Bankers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10825 | &nbsp;&nbsp;&nbsp;&nbsp; 1379213 |
| &nbsp;&nbsp;&nbsp;East West Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23105 | &nbsp;&nbsp;&nbsp;&nbsp; 2316276 |
| &nbsp;&nbsp;&nbsp;First Financial Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21583 | &nbsp;&nbsp;&nbsp;&nbsp; 747204 |
| &nbsp;&nbsp;&nbsp;First Horizon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;85032 | &nbsp;&nbsp;&nbsp;&nbsp; 1854548 |
| &nbsp;&nbsp;&nbsp;FNB Corp. | &nbsp;&nbsp;&nbsp;&nbsp;60472 | &nbsp;&nbsp;&nbsp;&nbsp; 926431 |
| &nbsp;&nbsp;&nbsp;Glacier Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19065 | &nbsp;&nbsp;&nbsp;&nbsp; 835619 |
| &nbsp;&nbsp;&nbsp;Hancock Whitney Corp. | &nbsp;&nbsp;&nbsp;&nbsp;14357 | &nbsp;&nbsp;&nbsp;&nbsp; 857400 |
| &nbsp;&nbsp;&nbsp;Home BancShares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30785 | &nbsp;&nbsp;&nbsp;&nbsp; 866906 |
| &nbsp;&nbsp;&nbsp;International Bancshares Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9047 | &nbsp;&nbsp;&nbsp;&nbsp; 616824 |
| &nbsp;&nbsp;&nbsp;Old National Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;53716 | &nbsp;&nbsp;&nbsp;&nbsp; 1133945 |
| &nbsp;&nbsp;&nbsp;Pinnacle Financial Partners, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12896 | &nbsp;&nbsp;&nbsp;&nbsp; 1133429 |
| &nbsp;&nbsp;&nbsp;Prosperity Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16042 | &nbsp;&nbsp;&nbsp;&nbsp; 1068718 |
| &nbsp;&nbsp;&nbsp;SouthState Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16545 | &nbsp;&nbsp;&nbsp;&nbsp; 1558043 |
| &nbsp;&nbsp;&nbsp;Synovus Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23388 | &nbsp;&nbsp;&nbsp;&nbsp; 1104849 |
| &nbsp;&nbsp;&nbsp;Texas Capital Bancshares, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7695 | &nbsp;&nbsp;&nbsp;&nbsp; 646149 |
| &nbsp;&nbsp;&nbsp;UMB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11963 | &nbsp;&nbsp;&nbsp;&nbsp; 1315810 |
| &nbsp;&nbsp;&nbsp;United Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23758 | &nbsp;&nbsp;&nbsp;&nbsp; 843884 |
| &nbsp;&nbsp;&nbsp;Valley National Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;80324 | &nbsp;&nbsp;&nbsp;&nbsp; 744604 |
| &nbsp;&nbsp;&nbsp;Webster Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;28202 | &nbsp;&nbsp;&nbsp;&nbsp; 1625845 |
| &nbsp;&nbsp;&nbsp;Western Alliance Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;18273 | &nbsp;&nbsp;&nbsp;&nbsp; 1417254 |
| &nbsp;&nbsp;&nbsp;Wintrust Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11205 | &nbsp;&nbsp;&nbsp;&nbsp; 1434016 |
| &nbsp;&nbsp;&nbsp;Zions Bancorp NA | &nbsp;&nbsp;&nbsp;&nbsp;24739 | &nbsp;&nbsp;&nbsp;&nbsp; 1326505 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;31751860 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Beverages — 0.5%** | **Beverages — 0.5%** | **Beverages — 0.5%** |
| &nbsp;&nbsp;&nbsp;Boston Beer Co., Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1383 | &nbsp;&nbsp;$286392 |
| &nbsp;&nbsp;&nbsp;Celsius Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;26356 | &nbsp;&nbsp;&nbsp;&nbsp; 1194981 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Consolidated, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9827 | &nbsp;&nbsp;&nbsp;&nbsp; 1098167 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2579540 |
| **Biotechnology — 2.4%** | **Biotechnology — 2.4%** | **Biotechnology — 2.4%** |
| &nbsp;&nbsp;&nbsp;BioMarin Pharmaceutical, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;32117 | &nbsp;&nbsp;&nbsp;&nbsp; 1857968 |
| &nbsp;&nbsp;&nbsp;Bio-Rad Laboratories, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3129 | &nbsp;&nbsp;&nbsp;&nbsp; 757062 |
| &nbsp;&nbsp;&nbsp;Cytokinetics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;19888 | &nbsp;&nbsp;&nbsp;&nbsp; 748584 |
| &nbsp;&nbsp;&nbsp;Exelixis, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;45716 | &nbsp;&nbsp;&nbsp;&nbsp; 1655834 |
| &nbsp;&nbsp;&nbsp;Halozyme Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;20731 | &nbsp;&nbsp;&nbsp;&nbsp; 1243238 |
| &nbsp;&nbsp;&nbsp;Illumina, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;26537 | &nbsp;&nbsp;&nbsp;&nbsp; 2725615 |
| &nbsp;&nbsp;&nbsp;Roivant Sciences, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;70761 | &nbsp;&nbsp;&nbsp;&nbsp; 803845 |
| &nbsp;&nbsp;&nbsp;Sarepta Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;16097 | &nbsp;&nbsp;&nbsp;&nbsp; 264313 |
| &nbsp;&nbsp;&nbsp;United Therapeutics Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7524 | &nbsp;&nbsp;&nbsp;&nbsp; 2066843 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;12123302 |
| **Building Materials — 2.1%** | **Building Materials — 2.1%** | **Building Materials — 2.1%** |
| &nbsp;&nbsp;&nbsp;AAON, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11369 | &nbsp;&nbsp;&nbsp;&nbsp; 949311 |
| &nbsp;&nbsp;&nbsp;Eagle Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5580 | &nbsp;&nbsp;&nbsp;&nbsp; 1251538 |
| &nbsp;&nbsp;&nbsp;Fortune Brands Innovations, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20160 | &nbsp;&nbsp;&nbsp;&nbsp; 1099526 |
| &nbsp;&nbsp;&nbsp;Knife River Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9497 | &nbsp;&nbsp;&nbsp;&nbsp; 783313 |
| &nbsp;&nbsp;&nbsp;Louisiana-Pacific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10420 | &nbsp;&nbsp;&nbsp;&nbsp; 942072 |
| &nbsp;&nbsp;&nbsp;Owens Corning | &nbsp;&nbsp;&nbsp;&nbsp;14258 | &nbsp;&nbsp;&nbsp;&nbsp; 1987993 |
| &nbsp;&nbsp;&nbsp;Simpson Manufacturing Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7007 | &nbsp;&nbsp;&nbsp;&nbsp; 1257266 |
| &nbsp;&nbsp;&nbsp;Trex Co., Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;17948 | &nbsp;&nbsp;&nbsp;&nbsp; 1152980 |
| &nbsp;&nbsp;&nbsp;UFP Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10161 | &nbsp;&nbsp;&nbsp;&nbsp; 995778 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10419777 |
| **Chemicals — 1.4%** | **Chemicals — 1.4%** | **Chemicals — 1.4%** |
| &nbsp;&nbsp;&nbsp;Ashland, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7660 | &nbsp;&nbsp;&nbsp;&nbsp; 394950 |
| &nbsp;&nbsp;&nbsp;Avient Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15451 | &nbsp;&nbsp;&nbsp;&nbsp; 487788 |
| &nbsp;&nbsp;&nbsp;Axalta Coating Systems, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;36639 | &nbsp;&nbsp;&nbsp;&nbsp; 1037616 |
| &nbsp;&nbsp;&nbsp;Cabot Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9006 | &nbsp;&nbsp;&nbsp;&nbsp; 650053 |
| &nbsp;&nbsp;&nbsp;NewMarket Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1263 | &nbsp;&nbsp;&nbsp;&nbsp; 867681 |
| &nbsp;&nbsp;&nbsp;Olin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;19567 | &nbsp;&nbsp;&nbsp;&nbsp; 370599 |
| &nbsp;&nbsp;&nbsp;RPM International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21529 | &nbsp;&nbsp;&nbsp;&nbsp; 2527720 |
| &nbsp;&nbsp;&nbsp;Westlake Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5659 | &nbsp;&nbsp;&nbsp;&nbsp; 448759 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6785166 |
| **Commercial Services — 4.0%** | **Commercial Services — 4.0%** | **Commercial Services — 4.0%** |
| &nbsp;&nbsp;&nbsp;API Group Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;61762 | &nbsp;&nbsp;&nbsp;&nbsp; 2227755 |
| &nbsp;&nbsp;&nbsp;Avis Budget Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2832 | &nbsp;&nbsp;&nbsp;&nbsp; 482120 |
| &nbsp;&nbsp;&nbsp;Brink's Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7066 | &nbsp;&nbsp;&nbsp;&nbsp; 617144 |
| &nbsp;&nbsp;&nbsp;Euronet Worldwide, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6839 | &nbsp;&nbsp;&nbsp;&nbsp; 664614 |
| &nbsp;&nbsp;&nbsp;FTI Consulting, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5645 | &nbsp;&nbsp;&nbsp;&nbsp; 939046 |
| &nbsp;&nbsp;&nbsp;Graham Holdings Co., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp;&nbsp;&nbsp; 543883 |
| &nbsp;&nbsp;&nbsp;Grand Canyon Education, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4689 | &nbsp;&nbsp;&nbsp;&nbsp; 790706 |
| &nbsp;&nbsp;&nbsp;GXO Logistics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;19181 | &nbsp;&nbsp;&nbsp;&nbsp; 953488 |
| &nbsp;&nbsp;&nbsp;H&R Block, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22443 | &nbsp;&nbsp;&nbsp;&nbsp; 1219553 |
| &nbsp;&nbsp;&nbsp;Insperity, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5960 | &nbsp;&nbsp;&nbsp;&nbsp; 355097 |
| &nbsp;&nbsp;&nbsp;ManpowerGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7759 | &nbsp;&nbsp;&nbsp;&nbsp; 320059 |
| &nbsp;&nbsp;&nbsp;Morningstar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4478 | &nbsp;&nbsp;&nbsp;&nbsp; 1237988 |
| &nbsp;&nbsp;&nbsp;Paylocity Holding Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7248 | &nbsp;&nbsp;&nbsp;&nbsp; 1340010 |
| &nbsp;&nbsp;&nbsp;RB Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31031 | &nbsp;&nbsp;&nbsp;&nbsp; 3359416 |
| &nbsp;&nbsp;&nbsp;Service Corp. International | &nbsp;&nbsp;&nbsp;&nbsp;23865 | &nbsp;&nbsp;&nbsp;&nbsp; 1821138 |
| &nbsp;&nbsp;&nbsp;Shift4 Payments, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;11303 | &nbsp;&nbsp;&nbsp;&nbsp; 1164209 |
| &nbsp;&nbsp;&nbsp;Valvoline, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;21309 | &nbsp;&nbsp;&nbsp;&nbsp; 751142 |
| &nbsp;&nbsp;&nbsp;WEX, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5761 | &nbsp;&nbsp;&nbsp;&nbsp; 977526 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;19764894 |
| **Computers — 3.5%** | **Computers — 3.5%** | **Computers — 3.5%** |
| &nbsp;&nbsp;&nbsp;ASGN, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7475 | &nbsp;&nbsp;&nbsp;&nbsp; 374797 |
| &nbsp;&nbsp;&nbsp;CACI International, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3686 | &nbsp;&nbsp;&nbsp;&nbsp; 1697661 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Mid Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Computers (continued)** | **Computers (continued)** | **Computers (continued)** |
| &nbsp;&nbsp;&nbsp;Crane NXT Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8287 | &nbsp;&nbsp;$491751 |
| &nbsp;&nbsp;&nbsp;ExlService Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;27208 | &nbsp;&nbsp;&nbsp;&nbsp; 1181643 |
| &nbsp;&nbsp;&nbsp;Genpact, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;27064 | &nbsp;&nbsp;&nbsp;&nbsp; 1192169 |
| &nbsp;&nbsp;&nbsp;KBR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21827 | &nbsp;&nbsp;&nbsp;&nbsp; 1020194 |
| &nbsp;&nbsp;&nbsp;Kyndryl Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;39009 | &nbsp;&nbsp;&nbsp;&nbsp; 1473370 |
| &nbsp;&nbsp;&nbsp;Lumentum Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;11634 | &nbsp;&nbsp;&nbsp;&nbsp; 1280671 |
| &nbsp;&nbsp;&nbsp;Maximus, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9446 | &nbsp;&nbsp;&nbsp;&nbsp; 697682 |
| &nbsp;&nbsp;&nbsp;Okta, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;28023 | &nbsp;&nbsp;&nbsp;&nbsp; 2740649 |
| &nbsp;&nbsp;&nbsp;Parsons Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7934 | &nbsp;&nbsp;&nbsp;&nbsp; 588703 |
| &nbsp;&nbsp;&nbsp;Pure Storage, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;52100 | &nbsp;&nbsp;&nbsp;&nbsp; 3100992 |
| &nbsp;&nbsp;&nbsp;Qualys, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6090 | &nbsp;&nbsp;&nbsp;&nbsp; 810396 |
| &nbsp;&nbsp;&nbsp;Science Applications International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7907 | &nbsp;&nbsp;&nbsp;&nbsp; 881472 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;17532150 |
| **Cosmetics/Personal Care — 0.4%** | **Cosmetics/Personal Care — 0.4%** | **Cosmetics/Personal Care — 0.4%** |
| &nbsp;&nbsp;&nbsp;Coty, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;60526 | &nbsp;&nbsp;&nbsp;&nbsp; 293551 |
| &nbsp;&nbsp;&nbsp;e.l.f. Beauty, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9455 | &nbsp;&nbsp;&nbsp;&nbsp; 1145852 |
| &nbsp;&nbsp;&nbsp;Perrigo Co. PLC | &nbsp;&nbsp;&nbsp;&nbsp;22991 | &nbsp;&nbsp;&nbsp;&nbsp; 613170 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2052573 |
| **Distribution/Wholesale — 1.2%** | **Distribution/Wholesale — 1.2%** | **Distribution/Wholesale — 1.2%** |
| &nbsp;&nbsp;&nbsp;Core & Main, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;31752 | &nbsp;&nbsp;&nbsp;&nbsp; 2020698 |
| &nbsp;&nbsp;&nbsp;Watsco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5848 | &nbsp;&nbsp;&nbsp;&nbsp; 2636746 |
| &nbsp;&nbsp;&nbsp;WESCO International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7445 | &nbsp;&nbsp;&nbsp;&nbsp; 1540817 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6198261 |
| **Diversified Financial Services — 4.3%** | **Diversified Financial Services — 4.3%** | **Diversified Financial Services — 4.3%** |
| &nbsp;&nbsp;&nbsp;Affiliated Managers Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4783 | &nbsp;&nbsp;&nbsp;&nbsp; 1003808 |
| &nbsp;&nbsp;&nbsp;Ally Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46318 | &nbsp;&nbsp;&nbsp;&nbsp; 1753137 |
| &nbsp;&nbsp;&nbsp;Evercore, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5966 | &nbsp;&nbsp;&nbsp;&nbsp; 1796601 |
| &nbsp;&nbsp;&nbsp;Federated Hermes, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12695 | &nbsp;&nbsp;&nbsp;&nbsp; 629291 |
| &nbsp;&nbsp;&nbsp;Hamilton Lane, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7263 | &nbsp;&nbsp;&nbsp;&nbsp; 1106155 |
| &nbsp;&nbsp;&nbsp;Houlihan Lokey, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9017 | &nbsp;&nbsp;&nbsp;&nbsp; 1719181 |
| &nbsp;&nbsp;&nbsp;Interactive Brokers Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;73063 | &nbsp;&nbsp;&nbsp;&nbsp; 4790010 |
| &nbsp;&nbsp;&nbsp;Janus Henderson Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;21206 | &nbsp;&nbsp;&nbsp;&nbsp; 918220 |
| &nbsp;&nbsp;&nbsp;Jefferies Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27315 | &nbsp;&nbsp;&nbsp;&nbsp; 1574983 |
| &nbsp;&nbsp;&nbsp;SEI Investments Co. | &nbsp;&nbsp;&nbsp;&nbsp;15860 | &nbsp;&nbsp;&nbsp;&nbsp; 1397583 |
| &nbsp;&nbsp;&nbsp;SLM Corp. | &nbsp;&nbsp;&nbsp;&nbsp;35180 | &nbsp;&nbsp;&nbsp;&nbsp; 1118724 |
| &nbsp;&nbsp;&nbsp;Stifel Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17218 | &nbsp;&nbsp;&nbsp;&nbsp; 1964918 |
| &nbsp;&nbsp;&nbsp;Voya Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16199 | &nbsp;&nbsp;&nbsp;&nbsp; 1133930 |
| &nbsp;&nbsp;&nbsp;Western Union Co. | &nbsp;&nbsp;&nbsp;&nbsp;53267 | &nbsp;&nbsp;&nbsp;&nbsp; 428800 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;21335341 |
| **Electric — 1.4%** | **Electric — 1.4%** | **Electric — 1.4%** |
| &nbsp;&nbsp;&nbsp;ALLETE, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9734 | &nbsp;&nbsp;&nbsp;&nbsp; 641762 |
| &nbsp;&nbsp;&nbsp;Black Hills Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12069 | &nbsp;&nbsp;&nbsp;&nbsp; 697347 |
| &nbsp;&nbsp;&nbsp;IDACORP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8977 | &nbsp;&nbsp;&nbsp;&nbsp; 1125087 |
| &nbsp;&nbsp;&nbsp;Northwestern Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10371 | &nbsp;&nbsp;&nbsp;&nbsp; 556923 |
| &nbsp;&nbsp;&nbsp;OGE Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;33864 | &nbsp;&nbsp;&nbsp;&nbsp; 1538103 |
| &nbsp;&nbsp;&nbsp;Ormat Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9612 | &nbsp;&nbsp;&nbsp;&nbsp; 859409 |
| &nbsp;&nbsp;&nbsp;Portland General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;18427 | &nbsp;&nbsp;&nbsp;&nbsp; 757718 |
| &nbsp;&nbsp;&nbsp;TXNM Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15254 | &nbsp;&nbsp;&nbsp;&nbsp; 866275 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7042624 |
| **Electrical Components & Equipment — 1.2%** | **Electrical Components & Equipment — 1.2%** | **Electrical Components & Equipment — 1.2%** |
| &nbsp;&nbsp;&nbsp;Acuity, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5131 | &nbsp;&nbsp;&nbsp;&nbsp; 1597537 |
| &nbsp;&nbsp;&nbsp;Belden, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6645 | &nbsp;&nbsp;&nbsp;&nbsp; 821654 |
| &nbsp;&nbsp;&nbsp;EnerSys | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6668 | &nbsp;&nbsp;&nbsp;&nbsp; 615923 |
| &nbsp;&nbsp;&nbsp;Littelfuse, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4158 | &nbsp;&nbsp;&nbsp;&nbsp; 1069978 |
| &nbsp;&nbsp;&nbsp;Novanta, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5962 | &nbsp;&nbsp;&nbsp;&nbsp; 733445 |
| &nbsp;&nbsp;&nbsp;Universal Display Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7409 | &nbsp;&nbsp;&nbsp;&nbsp; 1069860 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5908397 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Electronics — 3.5%** | **Electronics — 3.5%** | **Electronics — 3.5%** |
| &nbsp;&nbsp;&nbsp;Arrow Electronics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8727 | &nbsp;&nbsp;$1012332 |
| &nbsp;&nbsp;&nbsp;Avnet, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14108 | &nbsp;&nbsp;&nbsp;&nbsp; 746877 |
| &nbsp;&nbsp;&nbsp;Coherent Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;26058 | &nbsp;&nbsp;&nbsp;&nbsp; 2803841 |
| &nbsp;&nbsp;&nbsp;Flex, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;64223 | &nbsp;&nbsp;&nbsp;&nbsp; 3202801 |
| &nbsp;&nbsp;&nbsp;NEXTracker, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;24091 | &nbsp;&nbsp;&nbsp;&nbsp; 1403542 |
| &nbsp;&nbsp;&nbsp;nVent Electric PLC | &nbsp;&nbsp;&nbsp;&nbsp;27599 | &nbsp;&nbsp;&nbsp;&nbsp; 2164314 |
| &nbsp;&nbsp;&nbsp;Sensata Technologies Holding PLC | &nbsp;&nbsp;&nbsp;&nbsp;24612 | &nbsp;&nbsp;&nbsp;&nbsp; 757065 |
| &nbsp;&nbsp;&nbsp;TD SYNNEX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12521 | &nbsp;&nbsp;&nbsp;&nbsp; 1807907 |
| &nbsp;&nbsp;&nbsp;Vontier Corp. | &nbsp;&nbsp;&nbsp;&nbsp;24883 | &nbsp;&nbsp;&nbsp;&nbsp; 1031898 |
| &nbsp;&nbsp;&nbsp;Woodward, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9975 | &nbsp;&nbsp;&nbsp;&nbsp; 2564373 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;17494950 |
| **Engineering & Construction — 3.5%** | **Engineering & Construction — 3.5%** | **Engineering & Construction — 3.5%** |
| &nbsp;&nbsp;&nbsp;AECOM | &nbsp;&nbsp;&nbsp;&nbsp;22179 | &nbsp;&nbsp;&nbsp;&nbsp; 2500460 |
| &nbsp;&nbsp;&nbsp;Comfort Systems USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5900 | &nbsp;&nbsp;&nbsp;&nbsp; 4149470 |
| &nbsp;&nbsp;&nbsp;EMCOR Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7503 | &nbsp;&nbsp;&nbsp;&nbsp; 4708058 |
| &nbsp;&nbsp;&nbsp;Exponent, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8319 | &nbsp;&nbsp;&nbsp;&nbsp; 573678 |
| &nbsp;&nbsp;&nbsp;Fluor Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;27604 | &nbsp;&nbsp;&nbsp;&nbsp; 1567079 |
| &nbsp;&nbsp;&nbsp;MasTec, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10278 | &nbsp;&nbsp;&nbsp;&nbsp; 1944700 |
| &nbsp;&nbsp;&nbsp;TopBuild Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4764 | &nbsp;&nbsp;&nbsp;&nbsp; 1764729 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;17208174 |
| **Entertainment — 0.9%** | **Entertainment — 0.9%** | **Entertainment — 0.9%** |
| &nbsp;&nbsp;&nbsp;Churchill Downs, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12105 | &nbsp;&nbsp;&nbsp;&nbsp; 1295719 |
| &nbsp;&nbsp;&nbsp;Light & Wonder, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14145 | &nbsp;&nbsp;&nbsp;&nbsp; 1362447 |
| &nbsp;&nbsp;&nbsp;Marriott Vacations Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5326 | &nbsp;&nbsp;&nbsp;&nbsp; 396627 |
| &nbsp;&nbsp;&nbsp;Vail Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6251 | &nbsp;&nbsp;&nbsp;&nbsp; 939275 |
| &nbsp;&nbsp;&nbsp;Warner Music Group Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;24518 | &nbsp;&nbsp;&nbsp;&nbsp; 717397 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4711465 |
| **Environmental Control — 0.7%** | **Environmental Control — 0.7%** | **Environmental Control — 0.7%** |
| &nbsp;&nbsp;&nbsp;Clean Harbors, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8443 | &nbsp;&nbsp;&nbsp;&nbsp; 1990944 |
| &nbsp;&nbsp;&nbsp;Tetra Tech, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;44173 | &nbsp;&nbsp;&nbsp;&nbsp; 1622916 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3613860 |
| **Food — 2.7%** | **Food — 2.7%** | **Food — 2.7%** |
| &nbsp;&nbsp;&nbsp;Albertsons Cos., Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;67805 | &nbsp;&nbsp;&nbsp;&nbsp; 1303212 |
| &nbsp;&nbsp;&nbsp;Flowers Foods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32888 | &nbsp;&nbsp;&nbsp;&nbsp; 521275 |
| &nbsp;&nbsp;&nbsp;Ingredion, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10781 | &nbsp;&nbsp;&nbsp;&nbsp; 1418133 |
| &nbsp;&nbsp;&nbsp;Lancaster Colony Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3211 | &nbsp;&nbsp;&nbsp;&nbsp; 570787 |
| &nbsp;&nbsp;&nbsp;Performance Food Group Co.† | &nbsp;&nbsp;&nbsp;&nbsp;26167 | &nbsp;&nbsp;&nbsp;&nbsp; 2627167 |
| &nbsp;&nbsp;&nbsp;Pilgrim's Pride Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6817 | &nbsp;&nbsp;&nbsp;&nbsp; 323058 |
| &nbsp;&nbsp;&nbsp;Post Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7593 | &nbsp;&nbsp;&nbsp;&nbsp; 803415 |
| &nbsp;&nbsp;&nbsp;Sprouts Farmers Market, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;16405 | &nbsp;&nbsp;&nbsp;&nbsp; 2486014 |
| &nbsp;&nbsp;&nbsp;US Foods Holding Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;38823 | &nbsp;&nbsp;&nbsp;&nbsp; 3235120 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;13288181 |
| **Food Service — 0.4%** | **Food Service — 0.4%** | **Food Service — 0.4%** |
| &nbsp;&nbsp;&nbsp;Aramark | &nbsp;&nbsp;&nbsp;&nbsp;43933 | &nbsp;&nbsp;&nbsp;&nbsp; 1869788 |
| **Gas — 1.1%** | **Gas — 1.1%** | **Gas — 1.1%** |
| &nbsp;&nbsp;&nbsp;National Fuel Gas Co. | &nbsp;&nbsp;&nbsp;&nbsp;15146 | &nbsp;&nbsp;&nbsp;&nbsp; 1314521 |
| &nbsp;&nbsp;&nbsp;New Jersey Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16960 | &nbsp;&nbsp;&nbsp;&nbsp; 778634 |
| &nbsp;&nbsp;&nbsp;ONE Gas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9547 | &nbsp;&nbsp;&nbsp;&nbsp; 694067 |
| &nbsp;&nbsp;&nbsp;Southwest Gas Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10178 | &nbsp;&nbsp;&nbsp;&nbsp; 795309 |
| &nbsp;&nbsp;&nbsp;Spire, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9867 | &nbsp;&nbsp;&nbsp;&nbsp; 734795 |
| &nbsp;&nbsp;&nbsp;UGI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;35949 | &nbsp;&nbsp;&nbsp;&nbsp; 1300635 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5617961 |
| **Hand/Machine Tools — 0.7%** | **Hand/Machine Tools — 0.7%** | **Hand/Machine Tools — 0.7%** |
| &nbsp;&nbsp;&nbsp;Lincoln Electric Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9359 | &nbsp;&nbsp;&nbsp;&nbsp; 2278916 |
| &nbsp;&nbsp;&nbsp;MSA Safety, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6609 | &nbsp;&nbsp;&nbsp;&nbsp; 1175543 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3454459 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Mid Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Healthcare-Products — 2.0%** | **Healthcare-Products — 2.0%** | **Healthcare-Products — 2.0%** |
| &nbsp;&nbsp;&nbsp;Avantor, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;114234 | &nbsp;&nbsp;$1535305 |
| &nbsp;&nbsp;&nbsp;Bruker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;18650 | &nbsp;&nbsp;&nbsp;&nbsp; 716719 |
| &nbsp;&nbsp;&nbsp;Dentsply Sirona, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33498 | &nbsp;&nbsp;&nbsp;&nbsp; 479356 |
| &nbsp;&nbsp;&nbsp;Envista Holdings Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;28413 | &nbsp;&nbsp;&nbsp;&nbsp; 536722 |
| &nbsp;&nbsp;&nbsp;Globus Medical, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;18935 | &nbsp;&nbsp;&nbsp;&nbsp; 996549 |
| &nbsp;&nbsp;&nbsp;Haemonetics Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8466 | &nbsp;&nbsp;&nbsp;&nbsp; 626823 |
| &nbsp;&nbsp;&nbsp;Lantheus Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;11640 | &nbsp;&nbsp;&nbsp;&nbsp; 828652 |
| &nbsp;&nbsp;&nbsp;LivaNova PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9151 | &nbsp;&nbsp;&nbsp;&nbsp; 386081 |
| &nbsp;&nbsp;&nbsp;Masimo Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7515 | &nbsp;&nbsp;&nbsp;&nbsp; 1155732 |
| &nbsp;&nbsp;&nbsp;Penumbra, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6468 | &nbsp;&nbsp;&nbsp;&nbsp; 1631682 |
| &nbsp;&nbsp;&nbsp;Repligen Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8775 | &nbsp;&nbsp;&nbsp;&nbsp; 1027289 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9920910 |
| **Healthcare-Services — 2.2%** | **Healthcare-Services — 2.2%** | **Healthcare-Services — 2.2%** |
| &nbsp;&nbsp;&nbsp;Acadia Healthcare Co., Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;15691 | &nbsp;&nbsp;&nbsp;&nbsp; 341593 |
| &nbsp;&nbsp;&nbsp;Amedisys, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5343 | &nbsp;&nbsp;&nbsp;&nbsp; 526820 |
| &nbsp;&nbsp;&nbsp;Chemed Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2461 | &nbsp;&nbsp;&nbsp;&nbsp; 1014670 |
| &nbsp;&nbsp;&nbsp;Encompass Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16897 | &nbsp;&nbsp;&nbsp;&nbsp; 1860529 |
| &nbsp;&nbsp;&nbsp;Ensign Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9545 | &nbsp;&nbsp;&nbsp;&nbsp; 1431750 |
| &nbsp;&nbsp;&nbsp;HealthEquity, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14523 | &nbsp;&nbsp;&nbsp;&nbsp; 1408731 |
| &nbsp;&nbsp;&nbsp;Medpace Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3951 | &nbsp;&nbsp;&nbsp;&nbsp; 1687867 |
| &nbsp;&nbsp;&nbsp;Sotera Health Co.† | &nbsp;&nbsp;&nbsp;&nbsp;25763 | &nbsp;&nbsp;&nbsp;&nbsp; 296017 |
| &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;15571 | &nbsp;&nbsp;&nbsp;&nbsp; 2511291 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11079268 |
| **Home Builders — 0.9%** | **Home Builders — 0.9%** | **Home Builders — 0.9%** |
| &nbsp;&nbsp;&nbsp;KB Home | &nbsp;&nbsp;&nbsp;&nbsp;11639 | &nbsp;&nbsp;&nbsp;&nbsp; 643171 |
| &nbsp;&nbsp;&nbsp;Taylor Morrison Home Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;16886 | &nbsp;&nbsp;&nbsp;&nbsp; 1001002 |
| &nbsp;&nbsp;&nbsp;Thor Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8919 | &nbsp;&nbsp;&nbsp;&nbsp; 811540 |
| &nbsp;&nbsp;&nbsp;Toll Brothers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16669 | &nbsp;&nbsp;&nbsp;&nbsp; 1972943 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4428656 |
| **Home Furnishings — 0.8%** | **Home Furnishings — 0.8%** | **Home Furnishings — 0.8%** |
| &nbsp;&nbsp;&nbsp;Dolby Laboratories, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;10285 | &nbsp;&nbsp;&nbsp;&nbsp; 774872 |
| &nbsp;&nbsp;&nbsp;Somnigroup International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34609 | &nbsp;&nbsp;&nbsp;&nbsp; 2504999 |
| &nbsp;&nbsp;&nbsp;Whirlpool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9313 | &nbsp;&nbsp;&nbsp;&nbsp; 773352 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4053223 |
| **Housewares — 0.1%** | **Housewares — 0.1%** | **Housewares — 0.1%** |
| &nbsp;&nbsp;&nbsp;Scotts Miracle-Gro Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7264 | &nbsp;&nbsp;&nbsp;&nbsp; 455162 |
| **Insurance — 4.6%** | **Insurance — 4.6%** | **Insurance — 4.6%** |
| &nbsp;&nbsp;&nbsp;American Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12041 | &nbsp;&nbsp;&nbsp;&nbsp; 1503921 |
| &nbsp;&nbsp;&nbsp;Brighthouse Financial, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9658 | &nbsp;&nbsp;&nbsp;&nbsp; 462135 |
| &nbsp;&nbsp;&nbsp;CNO Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16680 | &nbsp;&nbsp;&nbsp;&nbsp; 614491 |
| &nbsp;&nbsp;&nbsp;Essent Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;16999 | &nbsp;&nbsp;&nbsp;&nbsp; 951774 |
| &nbsp;&nbsp;&nbsp;Fidelity National Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;43808 | &nbsp;&nbsp;&nbsp;&nbsp; 2472085 |
| &nbsp;&nbsp;&nbsp;First American Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17250 | &nbsp;&nbsp;&nbsp;&nbsp; 1035862 |
| &nbsp;&nbsp;&nbsp;Hanover Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6021 | &nbsp;&nbsp;&nbsp;&nbsp; 1033384 |
| &nbsp;&nbsp;&nbsp;Kemper Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10122 | &nbsp;&nbsp;&nbsp;&nbsp; 623414 |
| &nbsp;&nbsp;&nbsp;Kinsale Capital Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3712 | &nbsp;&nbsp;&nbsp;&nbsp; 1635841 |
| &nbsp;&nbsp;&nbsp;MGIC Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;39804 | &nbsp;&nbsp;&nbsp;&nbsp; 1030924 |
| &nbsp;&nbsp;&nbsp;Old Republic International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;38256 | &nbsp;&nbsp;&nbsp;&nbsp; 1383720 |
| &nbsp;&nbsp;&nbsp;Primerica, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5528 | &nbsp;&nbsp;&nbsp;&nbsp; 1468403 |
| &nbsp;&nbsp;&nbsp;Reinsurance Group of America, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11075 | &nbsp;&nbsp;&nbsp;&nbsp; 2131384 |
| &nbsp;&nbsp;&nbsp;RenaissanceRe Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8492 | &nbsp;&nbsp;&nbsp;&nbsp; 2069840 |
| &nbsp;&nbsp;&nbsp;RLI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13724 | &nbsp;&nbsp;&nbsp;&nbsp; 905647 |
| &nbsp;&nbsp;&nbsp;Ryan Specialty Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17993 | &nbsp;&nbsp;&nbsp;&nbsp; 1100992 |
| &nbsp;&nbsp;&nbsp;Selective Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10201 | &nbsp;&nbsp;&nbsp;&nbsp; 795372 |
| &nbsp;&nbsp;&nbsp;Unum Group | &nbsp;&nbsp;&nbsp;&nbsp;26891 | &nbsp;&nbsp;&nbsp;&nbsp; 1931043 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;23150232 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Internet — 1.0%** | **Internet — 1.0%** | **Internet — 1.0%** |
| &nbsp;&nbsp;&nbsp;Chewy, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;36791 | &nbsp;&nbsp;$1350230 |
| &nbsp;&nbsp;&nbsp;Hims & Hers Health, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;32868 | &nbsp;&nbsp;&nbsp;&nbsp; 2175204 |
| &nbsp;&nbsp;&nbsp;Maplebear, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;27274 | &nbsp;&nbsp;&nbsp;&nbsp; 1308334 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4833768 |
| **Iron/Steel — 1.7%** | **Iron/Steel — 1.7%** | **Iron/Steel — 1.7%** |
| &nbsp;&nbsp;&nbsp;ATI, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;23648 | &nbsp;&nbsp;&nbsp;&nbsp; 1819477 |
| &nbsp;&nbsp;&nbsp;Carpenter Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8345 | &nbsp;&nbsp;&nbsp;&nbsp; 2081160 |
| &nbsp;&nbsp;&nbsp;Cleveland-Cliffs, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;81226 | &nbsp;&nbsp;&nbsp;&nbsp; 854497 |
| &nbsp;&nbsp;&nbsp;Commercial Metals Co. | &nbsp;&nbsp;&nbsp;&nbsp;18943 | &nbsp;&nbsp;&nbsp;&nbsp; 982384 |
| &nbsp;&nbsp;&nbsp;Reliance, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8816 | &nbsp;&nbsp;&nbsp;&nbsp; 2557786 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8295304 |
| **Leisure Time — 0.7%** | **Leisure Time — 0.7%** | **Leisure Time — 0.7%** |
| &nbsp;&nbsp;&nbsp;Brunswick Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11011 | &nbsp;&nbsp;&nbsp;&nbsp; 641831 |
| &nbsp;&nbsp;&nbsp;Harley-Davidson, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18395 | &nbsp;&nbsp;&nbsp;&nbsp; 447551 |
| &nbsp;&nbsp;&nbsp;Planet Fitness, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;14107 | &nbsp;&nbsp;&nbsp;&nbsp; 1540343 |
| &nbsp;&nbsp;&nbsp;Polaris, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8753 | &nbsp;&nbsp;&nbsp;&nbsp; 463121 |
| &nbsp;&nbsp;&nbsp;YETI Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13980 | &nbsp;&nbsp;&nbsp;&nbsp; 513625 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3606471 |
| **Lodging — 0.9%** | **Lodging — 0.9%** | **Lodging — 0.9%** |
| &nbsp;&nbsp;&nbsp;Boyd Gaming Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10235 | &nbsp;&nbsp;&nbsp;&nbsp; 868952 |
| &nbsp;&nbsp;&nbsp;Choice Hotels International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3706 | &nbsp;&nbsp;&nbsp;&nbsp; 473293 |
| &nbsp;&nbsp;&nbsp;Hilton Grand Vacations, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9716 | &nbsp;&nbsp;&nbsp;&nbsp; 435471 |
| &nbsp;&nbsp;&nbsp;Hyatt Hotels Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7057 | &nbsp;&nbsp;&nbsp;&nbsp; 994825 |
| &nbsp;&nbsp;&nbsp;Travel & Leisure Co. | &nbsp;&nbsp;&nbsp;&nbsp;11174 | &nbsp;&nbsp;&nbsp;&nbsp; 662060 |
| &nbsp;&nbsp;&nbsp;Wyndham Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12896 | &nbsp;&nbsp;&nbsp;&nbsp; 1109056 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4543657 |
| **Machinery-Construction & Mining — 0.9%** | **Machinery-Construction & Mining — 0.9%** | **Machinery-Construction & Mining — 0.9%** |
| &nbsp;&nbsp;&nbsp;BWX Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15316 | &nbsp;&nbsp;&nbsp;&nbsp; 2326960 |
| &nbsp;&nbsp;&nbsp;Oshkosh Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10830 | &nbsp;&nbsp;&nbsp;&nbsp; 1370320 |
| &nbsp;&nbsp;&nbsp;Terex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10997 | &nbsp;&nbsp;&nbsp;&nbsp; 559307 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4256587 |
| **Machinery-Diversified — 3.9%** | **Machinery-Diversified — 3.9%** | **Machinery-Diversified — 3.9%** |
| &nbsp;&nbsp;&nbsp;AGCO Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10377 | &nbsp;&nbsp;&nbsp;&nbsp; 1224175 |
| &nbsp;&nbsp;&nbsp;Applied Industrial Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6385 | &nbsp;&nbsp;&nbsp;&nbsp; 1733527 |
| &nbsp;&nbsp;&nbsp;Chart Industries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7533 | &nbsp;&nbsp;&nbsp;&nbsp; 1497786 |
| &nbsp;&nbsp;&nbsp;CNH Industrial NV | &nbsp;&nbsp;&nbsp;&nbsp;146617 | &nbsp;&nbsp;&nbsp;&nbsp; 1900156 |
| &nbsp;&nbsp;&nbsp;Cognex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;28242 | &nbsp;&nbsp;&nbsp;&nbsp; 1151426 |
| &nbsp;&nbsp;&nbsp;Crane Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8198 | &nbsp;&nbsp;&nbsp;&nbsp; 1604922 |
| &nbsp;&nbsp;&nbsp;Esab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9553 | &nbsp;&nbsp;&nbsp;&nbsp; 1281726 |
| &nbsp;&nbsp;&nbsp;Flowserve Corp. | &nbsp;&nbsp;&nbsp;&nbsp;21994 | &nbsp;&nbsp;&nbsp;&nbsp; 1232544 |
| &nbsp;&nbsp;&nbsp;Graco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28018 | &nbsp;&nbsp;&nbsp;&nbsp; 2352952 |
| &nbsp;&nbsp;&nbsp;Middleby Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8998 | &nbsp;&nbsp;&nbsp;&nbsp; 1306510 |
| &nbsp;&nbsp;&nbsp;Regal Rexnord Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11120 | &nbsp;&nbsp;&nbsp;&nbsp; 1700026 |
| &nbsp;&nbsp;&nbsp;Toro Co. | &nbsp;&nbsp;&nbsp;&nbsp;16734 | &nbsp;&nbsp;&nbsp;&nbsp; 1242500 |
| &nbsp;&nbsp;&nbsp;Watts Water Technologies, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4597 | &nbsp;&nbsp;&nbsp;&nbsp; 1205885 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;19434135 |
| **Media — 0.5%** | **Media — 0.5%** | **Media — 0.5%** |
| &nbsp;&nbsp;&nbsp;New York Times Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;27203 | &nbsp;&nbsp;&nbsp;&nbsp; 1411564 |
| &nbsp;&nbsp;&nbsp;Nexstar Media Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4768 | &nbsp;&nbsp;&nbsp;&nbsp; 892140 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2303704 |
| **Metal Fabricate/Hardware — 1.4%** | **Metal Fabricate/Hardware — 1.4%** | **Metal Fabricate/Hardware — 1.4%** |
| &nbsp;&nbsp;&nbsp;Advanced Drainage Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11836 | &nbsp;&nbsp;&nbsp;&nbsp; 1358181 |
| &nbsp;&nbsp;&nbsp;Mueller Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18616 | &nbsp;&nbsp;&nbsp;&nbsp; 1589248 |
| &nbsp;&nbsp;&nbsp;RBC Bearings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5255 | &nbsp;&nbsp;&nbsp;&nbsp; 2035472 |
| &nbsp;&nbsp;&nbsp;Timken Co. | &nbsp;&nbsp;&nbsp;&nbsp;10673 | &nbsp;&nbsp;&nbsp;&nbsp; 812108 |
| &nbsp;&nbsp;&nbsp;Valmont Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3358 | &nbsp;&nbsp;&nbsp;&nbsp; 1222144 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7017153 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Mid Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Mining — 0.6%** | **Mining — 0.6%** | **Mining — 0.6%** |
| &nbsp;&nbsp;&nbsp;Alcoa Corp. | &nbsp;&nbsp;&nbsp;&nbsp;43399 | &nbsp;&nbsp;$1300668 |
| &nbsp;&nbsp;&nbsp;Royal Gold, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11033 | &nbsp;&nbsp;&nbsp;&nbsp; 1670617 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2971285 |
| **Miscellaneous Manufacturing — 1.6%** | **Miscellaneous Manufacturing — 1.6%** | **Miscellaneous Manufacturing — 1.6%** |
| &nbsp;&nbsp;&nbsp;Carlisle Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7234 | &nbsp;&nbsp;&nbsp;&nbsp; 2565972 |
| &nbsp;&nbsp;&nbsp;Donaldson Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19810 | &nbsp;&nbsp;&nbsp;&nbsp; 1425726 |
| &nbsp;&nbsp;&nbsp;Fabrinet† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6007 | &nbsp;&nbsp;&nbsp;&nbsp; 1944646 |
| &nbsp;&nbsp;&nbsp;ITT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13193 | &nbsp;&nbsp;&nbsp;&nbsp; 2242282 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8178626 |
| **Oil & Gas — 2.8%** | **Oil & Gas — 2.8%** | **Oil & Gas — 2.8%** |
| &nbsp;&nbsp;&nbsp;Antero Resources Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;48933 | &nbsp;&nbsp;&nbsp;&nbsp; 1709230 |
| &nbsp;&nbsp;&nbsp;Chord Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9682 | &nbsp;&nbsp;&nbsp;&nbsp; 1068215 |
| &nbsp;&nbsp;&nbsp;Civitas Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14330 | &nbsp;&nbsp;&nbsp;&nbsp; 435059 |
| &nbsp;&nbsp;&nbsp;CNX Resources Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;24348 | &nbsp;&nbsp;&nbsp;&nbsp; 737988 |
| &nbsp;&nbsp;&nbsp;HF Sinclair Corp. | &nbsp;&nbsp;&nbsp;&nbsp;26847 | &nbsp;&nbsp;&nbsp;&nbsp; 1179657 |
| &nbsp;&nbsp;&nbsp;Matador Resources Co. | &nbsp;&nbsp;&nbsp;&nbsp;19555 | &nbsp;&nbsp;&nbsp;&nbsp; 975403 |
| &nbsp;&nbsp;&nbsp;Murphy Oil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22570 | &nbsp;&nbsp;&nbsp;&nbsp; 559962 |
| &nbsp;&nbsp;&nbsp;Ovintiv, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;43555 | &nbsp;&nbsp;&nbsp;&nbsp; 1793595 |
| &nbsp;&nbsp;&nbsp;PBF Energy, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;16452 | &nbsp;&nbsp;&nbsp;&nbsp; 371815 |
| &nbsp;&nbsp;&nbsp;Permian Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;106911 | &nbsp;&nbsp;&nbsp;&nbsp; 1513860 |
| &nbsp;&nbsp;&nbsp;Range Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;40061 | &nbsp;&nbsp;&nbsp;&nbsp; 1471040 |
| &nbsp;&nbsp;&nbsp;Valaris, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;11026 | &nbsp;&nbsp;&nbsp;&nbsp; 536194 |
| &nbsp;&nbsp;&nbsp;Viper Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21975 | &nbsp;&nbsp;&nbsp;&nbsp; 827578 |
| &nbsp;&nbsp;&nbsp;Weatherford International PLC | &nbsp;&nbsp;&nbsp;&nbsp;12276 | &nbsp;&nbsp;&nbsp;&nbsp; 694208 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;13873804 |
| **Oil & Gas Services — 0.2%** | **Oil & Gas Services — 0.2%** | **Oil & Gas Services — 0.2%** |
| &nbsp;&nbsp;&nbsp;NOV, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;63214 | &nbsp;&nbsp;&nbsp;&nbsp; 795232 |
| **Packaging & Containers — 1.3%** | **Packaging & Containers — 1.3%** | **Packaging & Containers — 1.3%** |
| &nbsp;&nbsp;&nbsp;AptarGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11071 | &nbsp;&nbsp;&nbsp;&nbsp; 1739697 |
| &nbsp;&nbsp;&nbsp;Crown Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19289 | &nbsp;&nbsp;&nbsp;&nbsp; 1916555 |
| &nbsp;&nbsp;&nbsp;Graphic Packaging Holding Co. | &nbsp;&nbsp;&nbsp;&nbsp;50771 | &nbsp;&nbsp;&nbsp;&nbsp; 1135240 |
| &nbsp;&nbsp;&nbsp;Greif, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4372 | &nbsp;&nbsp;&nbsp;&nbsp; 277316 |
| &nbsp;&nbsp;&nbsp;Silgan Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13631 | &nbsp;&nbsp;&nbsp;&nbsp; 634250 |
| &nbsp;&nbsp;&nbsp;Sonoco Products Co. | &nbsp;&nbsp;&nbsp;&nbsp;16559 | &nbsp;&nbsp;&nbsp;&nbsp; 746314 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6449372 |
| **Pharmaceuticals — 1.1%** | **Pharmaceuticals — 1.1%** | **Pharmaceuticals — 1.1%** |
| &nbsp;&nbsp;&nbsp;BellRing Brands, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;21366 | &nbsp;&nbsp;&nbsp;&nbsp; 1166156 |
| &nbsp;&nbsp;&nbsp;Jazz Pharmaceuticals PLC† | &nbsp;&nbsp;&nbsp;&nbsp;10224 | &nbsp;&nbsp;&nbsp;&nbsp; 1171977 |
| &nbsp;&nbsp;&nbsp;Neurocrine Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;16591 | &nbsp;&nbsp;&nbsp;&nbsp; 2127464 |
| &nbsp;&nbsp;&nbsp;Option Care Health, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;27549 | &nbsp;&nbsp;&nbsp;&nbsp; 808563 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5274160 |
| **Pipelines — 0.6%** | **Pipelines — 0.6%** | **Pipelines — 0.6%** |
| &nbsp;&nbsp;&nbsp;Antero Midstream Corp. | &nbsp;&nbsp;&nbsp;&nbsp;56235 | &nbsp;&nbsp;&nbsp;&nbsp; 1031912 |
| &nbsp;&nbsp;&nbsp;DT Midstream, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17075 | &nbsp;&nbsp;&nbsp;&nbsp; 1754115 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2786027 |
| **Private Equity — 0.4%** | **Private Equity — 0.4%** | **Private Equity — 0.4%** |
| &nbsp;&nbsp;&nbsp;Carlyle Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35563 | &nbsp;&nbsp;&nbsp;&nbsp; 2157252 |
| **Real Estate — 0.4%** | **Real Estate — 0.4%** | **Real Estate — 0.4%** |
| &nbsp;&nbsp;&nbsp;Jones Lang LaSalle, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7958 | &nbsp;&nbsp;&nbsp;&nbsp; 2151525 |
| **REITS — 6.8%** | **REITS — 6.8%** | **REITS — 6.8%** |
| &nbsp;&nbsp;&nbsp;Agree Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;18091 | &nbsp;&nbsp;&nbsp;&nbsp; 1297125 |
| &nbsp;&nbsp;&nbsp;American Homes 4 Rent, Class A | &nbsp;&nbsp;&nbsp;&nbsp;53274 | &nbsp;&nbsp;&nbsp;&nbsp; 1848075 |
| &nbsp;&nbsp;&nbsp;Annaly Capital Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;101436 | &nbsp;&nbsp;&nbsp;&nbsp; 2062194 |
| &nbsp;&nbsp;&nbsp;Brixmor Property Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51307 | &nbsp;&nbsp;&nbsp;&nbsp; 1340652 |
| &nbsp;&nbsp;&nbsp;COPT Defense Properties | &nbsp;&nbsp;&nbsp;&nbsp;19021 | &nbsp;&nbsp;&nbsp;&nbsp; 518893 |
| &nbsp;&nbsp;&nbsp;Cousins Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28078 | &nbsp;&nbsp;&nbsp;&nbsp; 760914 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **REITS (continued)** | **REITS (continued)** | **REITS (continued)** |
| &nbsp;&nbsp;&nbsp;CubeSmart | &nbsp;&nbsp;&nbsp;&nbsp;38111 | &nbsp;&nbsp;$1482899 |
| &nbsp;&nbsp;&nbsp;EastGroup Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8705 | &nbsp;&nbsp;&nbsp;&nbsp; 1421004 |
| &nbsp;&nbsp;&nbsp;EPR Properties | &nbsp;&nbsp;&nbsp;&nbsp;12807 | &nbsp;&nbsp;&nbsp;&nbsp; 704897 |
| &nbsp;&nbsp;&nbsp;Equity LifeStyle Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;32051 | &nbsp;&nbsp;&nbsp;&nbsp; 1920496 |
| &nbsp;&nbsp;&nbsp;First Industrial Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22195 | &nbsp;&nbsp;&nbsp;&nbsp; 1081340 |
| &nbsp;&nbsp;&nbsp;Gaming & Leisure Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46073 | &nbsp;&nbsp;&nbsp;&nbsp; 2100007 |
| &nbsp;&nbsp;&nbsp;Healthcare Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;59123 | &nbsp;&nbsp;&nbsp;&nbsp; 908129 |
| &nbsp;&nbsp;&nbsp;Independence Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;38651 | &nbsp;&nbsp;&nbsp;&nbsp; 648177 |
| &nbsp;&nbsp;&nbsp;Kilroy Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17981 | &nbsp;&nbsp;&nbsp;&nbsp; 662780 |
| &nbsp;&nbsp;&nbsp;Kite Realty Group Trust | &nbsp;&nbsp;&nbsp;&nbsp;36520 | &nbsp;&nbsp;&nbsp;&nbsp; 802710 |
| &nbsp;&nbsp;&nbsp;Lamar Advertising Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;14747 | &nbsp;&nbsp;&nbsp;&nbsp; 1802821 |
| &nbsp;&nbsp;&nbsp;National Storage Affiliates Trust | &nbsp;&nbsp;&nbsp;&nbsp;11859 | &nbsp;&nbsp;&nbsp;&nbsp; 349366 |
| &nbsp;&nbsp;&nbsp;NNN REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;31508 | &nbsp;&nbsp;&nbsp;&nbsp; 1300020 |
| &nbsp;&nbsp;&nbsp;Omega Healthcare Investors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;48514 | &nbsp;&nbsp;&nbsp;&nbsp; 1887195 |
| &nbsp;&nbsp;&nbsp;Park Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;33630 | &nbsp;&nbsp;&nbsp;&nbsp; 358496 |
| &nbsp;&nbsp;&nbsp;PotlatchDeltic Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12017 | &nbsp;&nbsp;&nbsp;&nbsp; 491375 |
| &nbsp;&nbsp;&nbsp;Rayonier, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23728 | &nbsp;&nbsp;&nbsp;&nbsp; 553100 |
| &nbsp;&nbsp;&nbsp;Rexford Industrial Realty, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39584 | &nbsp;&nbsp;&nbsp;&nbsp; 1446003 |
| &nbsp;&nbsp;&nbsp;Sabra Health Care REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40010 | &nbsp;&nbsp;&nbsp;&nbsp; 721380 |
| &nbsp;&nbsp;&nbsp;STAG Industrial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;30520 | &nbsp;&nbsp;&nbsp;&nbsp; 1047752 |
| &nbsp;&nbsp;&nbsp;Starwood Property Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;58320 | &nbsp;&nbsp;&nbsp;&nbsp; 1134907 |
| &nbsp;&nbsp;&nbsp;Vornado Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp;27961 | &nbsp;&nbsp;&nbsp;&nbsp; 1074262 |
| &nbsp;&nbsp;&nbsp;WP Carey, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36709 | &nbsp;&nbsp;&nbsp;&nbsp; 2355249 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;34082218 |
| **Retail — 6.1%** | **Retail — 6.1%** | **Retail — 6.1%** |
| &nbsp;&nbsp;&nbsp;Abercrombie & Fitch Co., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8015 | &nbsp;&nbsp;&nbsp;&nbsp; 769600 |
| &nbsp;&nbsp;&nbsp;AutoNation, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4171 | &nbsp;&nbsp;&nbsp;&nbsp; 803501 |
| &nbsp;&nbsp;&nbsp;Bath & Body Works, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35836 | &nbsp;&nbsp;&nbsp;&nbsp; 1037811 |
| &nbsp;&nbsp;&nbsp;BJ's Wholesale Club Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;22137 | &nbsp;&nbsp;&nbsp;&nbsp; 2344308 |
| &nbsp;&nbsp;&nbsp;Burlington Stores, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10560 | &nbsp;&nbsp;&nbsp;&nbsp; 2882458 |
| &nbsp;&nbsp;&nbsp;Casey's General Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6223 | &nbsp;&nbsp;&nbsp;&nbsp; 3236769 |
| &nbsp;&nbsp;&nbsp;Cava Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13709 | &nbsp;&nbsp;&nbsp;&nbsp; 1206529 |
| &nbsp;&nbsp;&nbsp;Dick's Sporting Goods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9469 | &nbsp;&nbsp;&nbsp;&nbsp; 2002788 |
| &nbsp;&nbsp;&nbsp;FirstCash Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6470 | &nbsp;&nbsp;&nbsp;&nbsp; 862386 |
| &nbsp;&nbsp;&nbsp;Five Below, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9230 | &nbsp;&nbsp;&nbsp;&nbsp; 1260080 |
| &nbsp;&nbsp;&nbsp;Floor & Decor Holdings, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;18071 | &nbsp;&nbsp;&nbsp;&nbsp; 1384961 |
| &nbsp;&nbsp;&nbsp;GameStop Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;68237 | &nbsp;&nbsp;&nbsp;&nbsp; 1531921 |
| &nbsp;&nbsp;&nbsp;Gap, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;37249 | &nbsp;&nbsp;&nbsp;&nbsp; 724866 |
| &nbsp;&nbsp;&nbsp;Lithia Motors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4379 | &nbsp;&nbsp;&nbsp;&nbsp; 1261152 |
| &nbsp;&nbsp;&nbsp;Macy's, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46952 | &nbsp;&nbsp;&nbsp;&nbsp; 593004 |
| &nbsp;&nbsp;&nbsp;MSC Industrial Direct Co., Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7473 | &nbsp;&nbsp;&nbsp;&nbsp; 647311 |
| &nbsp;&nbsp;&nbsp;Murphy USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3014 | &nbsp;&nbsp;&nbsp;&nbsp; 1092515 |
| &nbsp;&nbsp;&nbsp;Ollie's Bargain Outlet Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10326 | &nbsp;&nbsp;&nbsp;&nbsp; 1410841 |
| &nbsp;&nbsp;&nbsp;Penske Automotive Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3106 | &nbsp;&nbsp;&nbsp;&nbsp; 519975 |
| &nbsp;&nbsp;&nbsp;RH† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2539 | &nbsp;&nbsp;&nbsp;&nbsp; 522069 |
| &nbsp;&nbsp;&nbsp;Texas Roadhouse, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11121 | &nbsp;&nbsp;&nbsp;&nbsp; 2058831 |
| &nbsp;&nbsp;&nbsp;Wendy's Co. | &nbsp;&nbsp;&nbsp;&nbsp;27137 | &nbsp;&nbsp;&nbsp;&nbsp; 267299 |
| &nbsp;&nbsp;&nbsp;Wingstop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4678 | &nbsp;&nbsp;&nbsp;&nbsp; 1765197 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;30186172 |
| **Savings & Loans — 0.1%** | **Savings & Loans — 0.1%** | **Savings & Loans — 0.1%** |
| &nbsp;&nbsp;&nbsp;Flagstar Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;51067 | &nbsp;&nbsp;&nbsp;&nbsp; 576546 |
| **Semiconductors — 2.3%** | **Semiconductors — 2.3%** | **Semiconductors — 2.3%** |
| &nbsp;&nbsp;&nbsp;Allegro MicroSystems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;21915 | &nbsp;&nbsp;&nbsp;&nbsp; 688350 |
| &nbsp;&nbsp;&nbsp;Amkor Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19119 | &nbsp;&nbsp;&nbsp;&nbsp; 431325 |
| &nbsp;&nbsp;&nbsp;Cirrus Logic, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8956 | &nbsp;&nbsp;&nbsp;&nbsp; 901959 |
| &nbsp;&nbsp;&nbsp;Entegris, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25380 | &nbsp;&nbsp;&nbsp;&nbsp; 1991315 |
| &nbsp;&nbsp;&nbsp;IPG Photonics Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4225 | &nbsp;&nbsp;&nbsp;&nbsp; 316410 |
| &nbsp;&nbsp;&nbsp;Lattice Semiconductor Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;23052 | &nbsp;&nbsp;&nbsp;&nbsp; 1148681 |
| &nbsp;&nbsp;&nbsp;MACOM Technology Solutions Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9977 | &nbsp;&nbsp;&nbsp;&nbsp; 1368246 |
| &nbsp;&nbsp;&nbsp;MKS, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11244 | &nbsp;&nbsp;&nbsp;&nbsp; 1070204 |
| &nbsp;&nbsp;&nbsp;Onto Innovation, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8223 | &nbsp;&nbsp;&nbsp;&nbsp; 779129 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Mid Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Semiconductors (continued)** | **Semiconductors (continued)** | **Semiconductors (continued)** |
| &nbsp;&nbsp;&nbsp;Power Integrations, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9189 | &nbsp;&nbsp;$445850 |
| &nbsp;&nbsp;&nbsp;Rambus, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;17960 | &nbsp;&nbsp;&nbsp;&nbsp; 1327783 |
| &nbsp;&nbsp;&nbsp;Silicon Laboratories, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5470 | &nbsp;&nbsp;&nbsp;&nbsp; 720782 |
| &nbsp;&nbsp;&nbsp;Synaptics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6485 | &nbsp;&nbsp;&nbsp;&nbsp; 406609 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11596643 |
| **Software — 4.1%** | **Software — 4.1%** | **Software — 4.1%** |
| &nbsp;&nbsp;&nbsp;Appfolio, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3877 | &nbsp;&nbsp;&nbsp;&nbsp; 1036632 |
| &nbsp;&nbsp;&nbsp;BILL Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;15862 | &nbsp;&nbsp;&nbsp;&nbsp; 679687 |
| &nbsp;&nbsp;&nbsp;Blackbaud, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6318 | &nbsp;&nbsp;&nbsp;&nbsp; 425960 |
| &nbsp;&nbsp;&nbsp;Commvault Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7415 | &nbsp;&nbsp;&nbsp;&nbsp; 1408479 |
| &nbsp;&nbsp;&nbsp;Concentrix Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7806 | &nbsp;&nbsp;&nbsp;&nbsp; 405678 |
| &nbsp;&nbsp;&nbsp;DocuSign, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;33947 | &nbsp;&nbsp;&nbsp;&nbsp; 2567751 |
| &nbsp;&nbsp;&nbsp;Doximity, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;22380 | &nbsp;&nbsp;&nbsp;&nbsp; 1314825 |
| &nbsp;&nbsp;&nbsp;Dropbox, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;32893 | &nbsp;&nbsp;&nbsp;&nbsp; 893703 |
| &nbsp;&nbsp;&nbsp;Duolingo, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6582 | &nbsp;&nbsp;&nbsp;&nbsp; 2280992 |
| &nbsp;&nbsp;&nbsp;Dynatrace, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;50260 | &nbsp;&nbsp;&nbsp;&nbsp; 2644179 |
| &nbsp;&nbsp;&nbsp;Guidewire Software, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14075 | &nbsp;&nbsp;&nbsp;&nbsp; 3184047 |
| &nbsp;&nbsp;&nbsp;Manhattan Associates, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10178 | &nbsp;&nbsp;&nbsp;&nbsp; 2235699 |
| &nbsp;&nbsp;&nbsp;Pegasystems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14921 | &nbsp;&nbsp;&nbsp;&nbsp; 876012 |
| &nbsp;&nbsp;&nbsp;ZoomInfo Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;43715 | &nbsp;&nbsp;&nbsp;&nbsp; 473433 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;20427077 |
| **Telecommunications — 1.0%** | **Telecommunications — 1.0%** | **Telecommunications — 1.0%** |
| &nbsp;&nbsp;&nbsp;Ciena Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;23829 | &nbsp;&nbsp;&nbsp;&nbsp; 2212284 |
| &nbsp;&nbsp;&nbsp;EchoStar Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;22676 | &nbsp;&nbsp;&nbsp;&nbsp; 739011 |
| &nbsp;&nbsp;&nbsp;Frontier Communications Parent, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;37346 | &nbsp;&nbsp;&nbsp;&nbsp; 1372092 |
| &nbsp;&nbsp;&nbsp;Iridium Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18132 | &nbsp;&nbsp;&nbsp;&nbsp; 443509 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4766896 |
| **Toys/Games/Hobbies — 0.2%** | **Toys/Games/Hobbies — 0.2%** | **Toys/Games/Hobbies — 0.2%** |
| &nbsp;&nbsp;&nbsp;Mattel, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;54130 | &nbsp;&nbsp;&nbsp;&nbsp; 920751 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Transportation — 1.6%** | **Transportation — 1.6%** |  |
| &nbsp;&nbsp;&nbsp;Kirby Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9438 | &nbsp;&nbsp;$899536 |
| &nbsp;&nbsp;&nbsp;Knight-Swift Transportation Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27164 | &nbsp;&nbsp;&nbsp;&nbsp; 1154470 |
| &nbsp;&nbsp;&nbsp;Landstar System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5879 | &nbsp;&nbsp;&nbsp;&nbsp; 784082 |
| &nbsp;&nbsp;&nbsp;Ryder System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6955 | &nbsp;&nbsp;&nbsp;&nbsp; 1235973 |
| &nbsp;&nbsp;&nbsp;Saia, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4465 | &nbsp;&nbsp;&nbsp;&nbsp; 1349502 |
| &nbsp;&nbsp;&nbsp;XPO, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;19758 | &nbsp;&nbsp;&nbsp;&nbsp; 2376690 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800253 |
| **Trucking & Leasing — 0.2%** | **Trucking & Leasing — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;GATX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6010 | &nbsp;&nbsp;&nbsp;&nbsp; 917667 |
| **Water — 0.3%** | **Water — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;Essential Utilities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42575 | &nbsp;&nbsp;&nbsp;&nbsp; 1566760 |
| **Total Long-Term Investment Securities<br> (cost $390,248,170)** |  | &nbsp;&nbsp;&nbsp;&nbsp;492859969 |
| **SHORT-TERM INVESTMENTS — 0.9%** | **SHORT-TERM INVESTMENTS — 0.9%** |  |
| **Unaffiliated Investment Companies — 0.9%** | **Unaffiliated Investment Companies — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(1)<br> (cost $4,714,232) | 4714232 | &nbsp;&nbsp;&nbsp;&nbsp; 4714232 |
| **TOTAL INVESTMENTS<br> (cost $394,962,402)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;&nbsp;&nbsp;497574201 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.0) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(165897) |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$497408304 |

---

† Non-income producing security

(1) The rate shown is the 7-day yield as of July 31, 2025.

(2) See Note 4 for cost of investments on a tax basis.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** |
| **Counterparty** | &nbsp;&nbsp;**Underlying<br> Reference** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Financing<br> Rate** | &nbsp;&nbsp;**Payment<br> Frequency** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Notional<br> Amount** | &nbsp;&nbsp;**Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value** |
| **Diversified Financial Services** |  |  |  |  |  |  |  |  |
| BNP Paribas | &nbsp;&nbsp;Western Union Co. | &nbsp;&nbsp; 2340 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;02/09/2028 | &nbsp;&nbsp;$19001 | &nbsp;&nbsp;$(164) | &nbsp;&nbsp;$(164) |
| **Insurance** |  |  |  |  |  |  |  |  |
| HSBC Holdings | &nbsp;&nbsp;Equitable Holdings Inc | &nbsp;&nbsp;50945 | &nbsp;&nbsp;4.73 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;05/24/2027 | &nbsp;&nbsp;&nbsp;2790767 | &nbsp;&nbsp;&nbsp;&nbsp;(174741) | &nbsp;&nbsp;&nbsp;&nbsp;(174741) |
| **Banks** |  |  |  |  |  |  |  |  |
| BNP Paribas | &nbsp;&nbsp;Cadence Bank | &nbsp;&nbsp; 5930 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;02/09/2028 | &nbsp;&nbsp;&nbsp; 201620 | &nbsp;&nbsp;&nbsp; 5040 | &nbsp;&nbsp;&nbsp; 5040 |
|  |  |  |  |  |  |  | &nbsp;&nbsp;$(169865) | &nbsp;&nbsp;$(169865) |

---

#### Futures Contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number<br> of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Expiration<br> Month** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Basis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Value\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
| 6 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;S&P Mid Cap 400 E-Mini Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$1940795 | &nbsp;&nbsp;&nbsp;&nbsp;$1899060 | &nbsp;&nbsp;&nbsp;&nbsp;$(41735) |

---

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

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Mid Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$492859969 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$492859969 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4714232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4714232 |
| **Total Investments at Value** | &nbsp;&nbsp;$497574201 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$497574201 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Swaps | &nbsp;&nbsp;$— | &nbsp;&nbsp;$5040 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$5040 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Swaps | &nbsp;&nbsp;$— | &nbsp;&nbsp;$174905 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$174905 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41735 |
| **Total Other Financial Instruments** | &nbsp;&nbsp;$41735 | &nbsp;&nbsp;$174905 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$216640 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | &nbsp;&nbsp;Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Morgan Stanley International Equities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 97.8%** | **COMMON STOCKS — 97.8%** | **COMMON STOCKS — 97.8%** |
| **Belgium — 1.1%** | **Belgium — 1.1%** | **Belgium — 1.1%** |
| &nbsp;&nbsp;&nbsp;KBC Group NV | &nbsp;&nbsp;&nbsp;&nbsp;36315 | &nbsp;&nbsp;$3802778 |
| **Bermuda — 1.0%** | **Bermuda — 1.0%** | **Bermuda — 1.0%** |
| &nbsp;&nbsp;&nbsp;Hiscox, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;206775 | &nbsp;&nbsp;&nbsp;&nbsp; 3528160 |
| **Canada — 3.8%** | **Canada — 3.8%** | **Canada — 3.8%** |
| &nbsp;&nbsp;&nbsp;Agnico Eagle Mines, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;23100 | &nbsp;&nbsp;&nbsp;&nbsp; 2867661 |
| &nbsp;&nbsp;&nbsp;Constellation Software, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2031 | &nbsp;&nbsp;&nbsp;&nbsp; 7006891 |
| &nbsp;&nbsp;&nbsp;Tourmaline Oil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;75242 | &nbsp;&nbsp;&nbsp;&nbsp; 3202238 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;13076790 |
| **China — 3.0%** | **China — 3.0%** | **China — 3.0%** |
| &nbsp;&nbsp;&nbsp;ANTA Sports Products, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;258800 | &nbsp;&nbsp;&nbsp;&nbsp; 2967134 |
| &nbsp;&nbsp;&nbsp;Tencent Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;53100 | &nbsp;&nbsp;&nbsp;&nbsp; 3720382 |
| &nbsp;&nbsp;&nbsp;Tsingtao Brewery Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp; 3496178 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10183694 |
| **Denmark — 3.9%** | **Denmark — 3.9%** | **Denmark — 3.9%** |
| &nbsp;&nbsp;&nbsp;DSV A/S | &nbsp;&nbsp;&nbsp;&nbsp;30123 | &nbsp;&nbsp;&nbsp;&nbsp; 6744660 |
| &nbsp;&nbsp;&nbsp;Tryg A/S | &nbsp;&nbsp;&nbsp;&nbsp;282526 | &nbsp;&nbsp;&nbsp;&nbsp; 6820449 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;13565109 |
| **Finland — 4.0%** | **Finland — 4.0%** | **Finland — 4.0%** |
| &nbsp;&nbsp;&nbsp;Kone Oyj, Class B | &nbsp;&nbsp;&nbsp;&nbsp;106067 | &nbsp;&nbsp;&nbsp;&nbsp; 6529092 |
| &nbsp;&nbsp;&nbsp;Nordea Bank Abp | &nbsp;&nbsp;&nbsp;&nbsp;503443 | &nbsp;&nbsp;&nbsp;&nbsp; 7353970 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;13883062 |
| **France — 14.4%** | **France — 14.4%** | **France — 14.4%** |
| &nbsp;&nbsp;&nbsp;Capgemini SE | &nbsp;&nbsp;&nbsp;&nbsp;51479 | &nbsp;&nbsp;&nbsp;&nbsp; 7690088 |
| &nbsp;&nbsp;&nbsp;Dassault Systemes SE | &nbsp;&nbsp;&nbsp;&nbsp;138891 | &nbsp;&nbsp;&nbsp;&nbsp; 4579132 |
| &nbsp;&nbsp;&nbsp;Legrand SA | &nbsp;&nbsp;&nbsp;&nbsp;55986 | &nbsp;&nbsp;&nbsp;&nbsp; 8302661 |
| &nbsp;&nbsp;&nbsp;L'Oreal SA | &nbsp;&nbsp;&nbsp;&nbsp;28448 | &nbsp;&nbsp;&nbsp;&nbsp; 12640186 |
| &nbsp;&nbsp;&nbsp;Pernod Ricard SA | &nbsp;&nbsp;&nbsp;&nbsp;27853 | &nbsp;&nbsp;&nbsp;&nbsp; 2872168 |
| &nbsp;&nbsp;&nbsp;Safran SA | &nbsp;&nbsp;&nbsp;&nbsp;29311 | &nbsp;&nbsp;&nbsp;&nbsp; 9683688 |
| &nbsp;&nbsp;&nbsp;Sanofi SA | &nbsp;&nbsp;&nbsp;&nbsp;41778 | &nbsp;&nbsp;&nbsp;&nbsp; 3758857 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;49526780 |
| **Germany — 7.6%** | **Germany — 7.6%** | **Germany — 7.6%** |
| &nbsp;&nbsp;&nbsp;Infineon Technologies AG | &nbsp;&nbsp;&nbsp;&nbsp;195893 | &nbsp;&nbsp;&nbsp;&nbsp; 7742758 |
| &nbsp;&nbsp;&nbsp;Merck KGaA | &nbsp;&nbsp;&nbsp;&nbsp;41093 | &nbsp;&nbsp;&nbsp;&nbsp; 5172553 |
| &nbsp;&nbsp;&nbsp;SAP SE | &nbsp;&nbsp;&nbsp;&nbsp;46077 | &nbsp;&nbsp;&nbsp;&nbsp; 13187828 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;26103139 |
| **Hong Kong — 1.7%** | **Hong Kong — 1.7%** | **Hong Kong — 1.7%** |
| &nbsp;&nbsp;&nbsp;AIA Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;620000 | &nbsp;&nbsp;&nbsp;&nbsp; 5797198 |
| **Italy — 0.9%** | **Italy — 0.9%** | **Italy — 0.9%** |
| &nbsp;&nbsp;&nbsp;Moncler SpA | &nbsp;&nbsp;&nbsp;&nbsp;56364 | &nbsp;&nbsp;&nbsp;&nbsp; 3019301 |
| **Japan — 9.4%** | **Japan — 9.4%** | **Japan — 9.4%** |
| &nbsp;&nbsp;&nbsp;BayCurrent, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;81800 | &nbsp;&nbsp;&nbsp;&nbsp; 4706212 |
| &nbsp;&nbsp;&nbsp;Keyence Corp. | &nbsp;&nbsp;&nbsp;&nbsp;28558 | &nbsp;&nbsp;&nbsp;&nbsp; 10453592 |
| &nbsp;&nbsp;&nbsp;Murata Manufacturing Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;390300 | &nbsp;&nbsp;&nbsp;&nbsp; 5868735 |
| &nbsp;&nbsp;&nbsp;SMC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16700 | &nbsp;&nbsp;&nbsp;&nbsp; 5836141 |
| &nbsp;&nbsp;&nbsp;Sony Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;221900 | &nbsp;&nbsp;&nbsp;&nbsp; 5418009 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;32282689 |
| **Jersey — 1.2%** | **Jersey — 1.2%** | **Jersey — 1.2%** |
| &nbsp;&nbsp;&nbsp;Experian PLC | &nbsp;&nbsp;&nbsp;&nbsp;76298 | &nbsp;&nbsp;&nbsp;&nbsp; 4034548 |
| **Netherlands — 10.3%** | **Netherlands — 10.3%** | **Netherlands — 10.3%** |
| &nbsp;&nbsp;&nbsp;ASML Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;10935 | &nbsp;&nbsp;&nbsp;&nbsp; 7650885 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Netherlands (continued)** | **Netherlands (continued)** |  |
| &nbsp;&nbsp;&nbsp;Davide Campari-Milano NV | &nbsp;&nbsp;&nbsp;&nbsp;475461 | &nbsp;&nbsp;$3288131 |
| &nbsp;&nbsp;&nbsp;EXOR NV | &nbsp;&nbsp;&nbsp;&nbsp;66479 | &nbsp;&nbsp;&nbsp;&nbsp; 6429626 |
| &nbsp;&nbsp;&nbsp;IMCD NV | &nbsp;&nbsp;&nbsp;&nbsp;38146 | &nbsp;&nbsp;&nbsp;&nbsp; 4193021 |
| &nbsp;&nbsp;&nbsp;QIAGEN NV | &nbsp;&nbsp;&nbsp;&nbsp;169719 | &nbsp;&nbsp;&nbsp;&nbsp; 8483325 |
| &nbsp;&nbsp;&nbsp;Universal Music Group NV | &nbsp;&nbsp;&nbsp;&nbsp;188390 | &nbsp;&nbsp;&nbsp;&nbsp; 5456461 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;35501449 |
| **Singapore — 1.0%** | **Singapore — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;DBS Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;97660 | &nbsp;&nbsp;&nbsp;&nbsp; 3603582 |
| **South Korea — 2.0%** | **South Korea — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;Samsung Electronics Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;132913 | &nbsp;&nbsp;&nbsp;&nbsp; 6843084 |
| **Spain — 2.4%** | **Spain — 2.4%** |  |
| &nbsp;&nbsp;&nbsp;Amadeus IT Group SA | &nbsp;&nbsp;&nbsp;&nbsp;104812 | &nbsp;&nbsp;&nbsp;&nbsp; 8423035 |
| **Sweden — 3.4%** | **Sweden — 3.4%** |  |
| &nbsp;&nbsp;&nbsp;Atlas Copco AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;366290 | &nbsp;&nbsp;&nbsp;&nbsp; 5590186 |
| &nbsp;&nbsp;&nbsp;Hexagon AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;552521 | &nbsp;&nbsp;&nbsp;&nbsp; 6092871 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11683057 |
| **Taiwan — 2.9%** | **Taiwan — 2.9%** |  |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;254443 | &nbsp;&nbsp;&nbsp;&nbsp; 9888730 |
| **United Kingdom — 23.8%** | **United Kingdom — 23.8%** |  |
| &nbsp;&nbsp;&nbsp;Angl0d American PLC | &nbsp;&nbsp;&nbsp;&nbsp;167555 | &nbsp;&nbsp;&nbsp;&nbsp; 4753126 |
| &nbsp;&nbsp;&nbsp;Associated British Foods PLC | &nbsp;&nbsp;&nbsp;&nbsp;162765 | &nbsp;&nbsp;&nbsp;&nbsp; 4724723 |
| &nbsp;&nbsp;&nbsp;AstraZeneca PLC | &nbsp;&nbsp;&nbsp;&nbsp;54231 | &nbsp;&nbsp;&nbsp;&nbsp; 8110267 |
| &nbsp;&nbsp;&nbsp;Diploma PLC | &nbsp;&nbsp;&nbsp;&nbsp;88846 | &nbsp;&nbsp;&nbsp;&nbsp; 6312594 |
| &nbsp;&nbsp;&nbsp;Haleon PLC | 2058499 | &nbsp;&nbsp;&nbsp;&nbsp; 9773210 |
| &nbsp;&nbsp;&nbsp;Halma PLC | &nbsp;&nbsp;&nbsp;&nbsp;197100 | &nbsp;&nbsp;&nbsp;&nbsp; 8464959 |
| &nbsp;&nbsp;&nbsp;InterContinental Hotels Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;31204 | &nbsp;&nbsp;&nbsp;&nbsp; 3611606 |
| &nbsp;&nbsp;&nbsp;London Stock Exchange Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;42975 | &nbsp;&nbsp;&nbsp;&nbsp; 5255506 |
| &nbsp;&nbsp;&nbsp;NatWest Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;861135 | &nbsp;&nbsp;&nbsp;&nbsp; 5993348 |
| &nbsp;&nbsp;&nbsp;Reckitt Benckiser Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;45270 | &nbsp;&nbsp;&nbsp;&nbsp; 3391052 |
| &nbsp;&nbsp;&nbsp;RELX PLC (LSE) | &nbsp;&nbsp;&nbsp;&nbsp;64149 | &nbsp;&nbsp;&nbsp;&nbsp; 3334515 |
| &nbsp;&nbsp;&nbsp;RELX PLC (XAMS) | &nbsp;&nbsp;&nbsp;&nbsp;52303 | &nbsp;&nbsp;&nbsp;&nbsp; 2719392 |
| &nbsp;&nbsp;&nbsp;Rightmove PLC | &nbsp;&nbsp;&nbsp;&nbsp;550621 | &nbsp;&nbsp;&nbsp;&nbsp; 5952675 |
| &nbsp;&nbsp;&nbsp;Shell PLC | &nbsp;&nbsp;&nbsp;&nbsp;105874 | &nbsp;&nbsp;&nbsp;&nbsp; 3790587 |
| &nbsp;&nbsp;&nbsp;St. James's Place PLC | &nbsp;&nbsp;&nbsp;&nbsp;322932 | &nbsp;&nbsp;&nbsp;&nbsp; 5580492 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;81768052 |
| **Total Common Stocks<br> (cost $291,134,402)** |  | &nbsp;&nbsp;&nbsp;&nbsp;336514237 |
| **WARRANTS — 0.0%** | **WARRANTS — 0.0%** |  |
| **Canada — 0.0%** | **Canada — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;Constellation Software, Inc.†(1)<br> Expires 03/31/2040<br> (cost $0) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4633 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **TOTAL INVESTMENTS<br> (cost $291,134,402)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97.8% | &nbsp;&nbsp;&nbsp;&nbsp;336514237 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7527205 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$344041442 |

---

† Non-income producing security

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

(2) See Note 4 for cost of investments on a tax basis.

LSE—London Stock Exchange <br> XAMS—Euronext Amsterdam Stock Exchange

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Morgan Stanley International Equities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | |
|:---|:---|
| **Industry Allocation\*** |  |
| Machinery-Diversified | &nbsp;&nbsp;10.0% |
| Semiconductors | &nbsp;&nbsp;&nbsp;&nbsp;9.4 |
| Software | &nbsp;&nbsp;&nbsp;&nbsp;7.2 |
| Cosmetics/Personal Care | &nbsp;&nbsp;&nbsp;&nbsp;6.5 |
| Banks | &nbsp;&nbsp;&nbsp;&nbsp;5.9 |
| Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;5.0 |
| Insurance | &nbsp;&nbsp;&nbsp;&nbsp;4.7 |
| Electronics | &nbsp;&nbsp;&nbsp;&nbsp;4.2 |
| Computers | &nbsp;&nbsp;&nbsp;&nbsp;3.7 |
| Retail | &nbsp;&nbsp;&nbsp;&nbsp;3.2 |
| Diversified Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;3.1 |
| Commercial Services | &nbsp;&nbsp;&nbsp;&nbsp;3.0 |
| Aerospace/Defense | &nbsp;&nbsp;&nbsp;&nbsp;2.8 |
| Internet | &nbsp;&nbsp;&nbsp;&nbsp;2.8 |
| Beverages | &nbsp;&nbsp;&nbsp;&nbsp;2.7 |
| Healthcare-Products | &nbsp;&nbsp;&nbsp;&nbsp;2.5 |
| Leisure Time | &nbsp;&nbsp;&nbsp;&nbsp;2.4 |
| Electrical Components & Equipment | &nbsp;&nbsp;&nbsp;&nbsp;2.4 |
| Mining | &nbsp;&nbsp;&nbsp;&nbsp;2.2 |
| Oil & Gas | &nbsp;&nbsp;&nbsp;&nbsp;2.0 |
| Transportation | &nbsp;&nbsp;&nbsp;&nbsp;1.9 |
| Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;1.9 |
| Miscellaneous Manufacturing | &nbsp;&nbsp;&nbsp;&nbsp;1.8 |
| Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;1.6 |
| Home Furnishings | &nbsp;&nbsp;&nbsp;&nbsp;1.6 |
| Distribution/Wholesale | &nbsp;&nbsp;&nbsp;&nbsp;1.2 |
| Lodging | &nbsp;&nbsp;&nbsp;&nbsp;1.1 |
| Household Products/Wares | &nbsp;&nbsp;&nbsp;&nbsp;1.0 |
|  | &nbsp;&nbsp;97.8% |

---

\* Calculated as a percentage of net assets

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$336514237 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$336514237 |
| Warrants | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| **Total Investments at Value** | &nbsp;&nbsp;$336514237 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$336514237 |

---

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

Level 3 investments in securities were not considered a significant portion of the Portfolio's net assets.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PIMCO Global Bond Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** | | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES — 15.5%** | **CORPORATE BONDS & NOTES — 15.5%** | **CORPORATE BONDS & NOTES — 15.5%** | **CORPORATE BONDS & NOTES — 15.5%** |
| **Canada — 1.6%** | **Canada — 1.6%** | **Canada — 1.6%** | **Canada — 1.6%** |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 03/20/2028\* |  | $1400000 | &nbsp;&nbsp;$1405718 |
| &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 01/14/2030\* |  | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp;&nbsp;&nbsp; 1948950 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.81%, 07/16/2027\* |  | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1213352 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4568020 |
| **Cayman Islands — 0.8%** | **Cayman Islands — 0.8%** | **Cayman Islands — 0.8%** | **Cayman Islands — 0.8%** |
| &nbsp;&nbsp;&nbsp;Gaci First Investment Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/29/2029 |  | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1114410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 01/29/2034 |  | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1117086 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2231496 |
| **Denmark — 0.2%** | **Denmark — 0.2%** | **Denmark — 0.2%** | **Denmark — 0.2%** |
| &nbsp;&nbsp;&nbsp;Danske Bank A/S |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.71%, 03/01/2030 |  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 517439 |
| **France — 1.3%** | **France — 1.3%** | **France — 1.3%** | **France — 1.3%** |
| &nbsp;&nbsp;&nbsp;BPCE SA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 01/11/2029 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 589705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.72%, 01/18/2030 |  | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;&nbsp;&nbsp; 1336371 |
| &nbsp;&nbsp;&nbsp;Credit Agricole SA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.25%, 01/26/2027\* |  | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 639285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 03/11/2027 |  | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1113024 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3678385 |
| **Germany — 0.6%** | **Germany — 0.6%** | **Germany — 0.6%** | **Germany — 0.6%** |
| &nbsp;&nbsp;&nbsp;Deutsche Bank AG |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.82%, 11/20/2029 |  | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 851504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.15%, 07/13/2027 |  | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 817758 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1669262 |
| **Italy — 0.4%** | **Italy — 0.4%** | **Italy — 0.4%** | **Italy — 0.4%** |
| &nbsp;&nbsp;&nbsp;Banca Monte dei Paschi di Siena SpA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 09/05/2027 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 833568 |
| &nbsp;&nbsp;&nbsp;Nexi SpA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.63%, 04/30/2026 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 339451 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1173019 |
| **Japan — 0.2%** | **Japan — 0.2%** | **Japan — 0.2%** | **Japan — 0.2%** |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.47%, 01/14/2029 |  | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 655856 |
| **Jersey — 0.1%** | **Jersey — 0.1%** | **Jersey — 0.1%** | **Jersey — 0.1%** |
| &nbsp;&nbsp;&nbsp;Glencore Finance Europe, Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 03/26/2026 | &nbsp;&nbsp;GBP | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 130770 |
| **Luxembourg — 0.1%** | **Luxembourg — 0.1%** | **Luxembourg — 0.1%** | **Luxembourg — 0.1%** |
| &nbsp;&nbsp;&nbsp;Logicor Financing SARL |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 11/13/2028 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 343190 |
| **Netherlands — 1.4%** | **Netherlands — 1.4%** | **Netherlands — 1.4%** | **Netherlands — 1.4%** |
| &nbsp;&nbsp;&nbsp;ABN AMRO Bank NV |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.54%, 06/16/2027\* |  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 486539 |
| &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 03/05/2030\* |  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 515146 |
| &nbsp;&nbsp;&nbsp;ING Groep NV |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 02/12/2035 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 354763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.02%, 03/28/2028 |  | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 223194 |
| &nbsp;&nbsp;&nbsp;JAB Holdings BV |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 04/25/2034 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 701210 |
| &nbsp;&nbsp;&nbsp;Prosus NV |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.68%, 01/21/2030 |  | &nbsp;&nbsp; 560000 | &nbsp;&nbsp;&nbsp;&nbsp; 529395 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** | | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Netherlands (continued)** | **Netherlands (continued)** | **Netherlands (continued)** | **Netherlands (continued)** |
| &nbsp;&nbsp;&nbsp;Sandoz Finance BV |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.22%, 04/17/2030 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;$1204105 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4014352 |
| **Spain — 0.3%** | **Spain — 0.3%** | **Spain — 0.3%** | **Spain — 0.3%** |
| &nbsp;&nbsp;&nbsp;CaixaBank SA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.38%, 11/18/2026 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 340517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75%, 05/26/2028 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 110764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.04%, 06/15/2035 |  | $300000 | &nbsp;&nbsp;&nbsp;&nbsp; 314293 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765574 |
| **Switzerland — 0.9%** | **Switzerland — 0.9%** | **Switzerland — 0.9%** | **Switzerland — 0.9%** |
| &nbsp;&nbsp;&nbsp;UBS Group AG |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00%, 06/24/2027 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 309959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.09%, 05/14/2032\* |  | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 272568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 06/09/2033 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 357201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.43%, 02/08/2030 |  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1025152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 02/08/2035 |  | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 621971 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2586851 |
| **United Arab Emirates — 0.1%** | **United Arab Emirates — 0.1%** | **United Arab Emirates — 0.1%** | **United Arab Emirates — 0.1%** |
| &nbsp;&nbsp;&nbsp;Abu Dhabi Developmental Holding Co. PJSC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 05/06/2030\* |  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199442 |
| **United Kingdom — 2.2%** | **United Kingdom — 2.2%** | **United Kingdom — 2.2%** | **United Kingdom — 2.2%** |
| &nbsp;&nbsp;&nbsp;Barclays PLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.69%, 03/12/2030 |  | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 722489 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings PLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.16%, 03/09/2029 |  | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 622308 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group PLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.68%, 01/05/2035 |  | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 718648 |
| &nbsp;&nbsp;&nbsp;Nationwide Building Society |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.96%, 07/18/2030\* |  | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 682061 |
| &nbsp;&nbsp;&nbsp;NatWest Group PLC FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.59%, (SOFR+1.25%), 03/01/2028 |  | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 704354 |
| &nbsp;&nbsp;&nbsp;Smith & Nephew PLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 03/20/2034 |  | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1116262 |
| &nbsp;&nbsp;&nbsp;Standard Chartered PLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.46%, 01/14/2027\* |  | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 689541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.30%, 01/09/2029 |  | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 829659 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6085322 |
| **United States — 5.3%** | **United States — 5.3%** | **United States — 5.3%** | **United States — 5.3%** |
| &nbsp;&nbsp;&nbsp;Athene Global Funding FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.08%, (SOFR+0.75%), 07/16/2026\* |  | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 901320 |
| &nbsp;&nbsp;&nbsp;Aviation Capital Group LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.95%, 01/30/2026\* |  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 73950 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.29%, 04/25/2034 |  | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 305619 |
| &nbsp;&nbsp;&nbsp;Bayer US Finance II LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 12/15/2025\* |  | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 648343 |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.14%, 11/15/2035\* |  | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 755436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 04/15/2032 |  | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 307507 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC/Charter Communications Operating Capital |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 03/01/2042 |  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 140713 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.98%, 03/20/2030 |  | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 782976 |
| &nbsp;&nbsp;&nbsp;Glencore Funding LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.63%, 04/27/2026\* |  | &nbsp;&nbsp; 297000 | &nbsp;&nbsp;&nbsp;&nbsp; 290334 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Bank USA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.41%, 05/21/2027 |  | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1508805 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PIMCO Global Bond Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** | | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.34%, 01/23/2035 |  | $725000 | &nbsp;&nbsp;$741235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 01/24/2036 |  | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 307788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.09%, 10/23/2029 |  | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 733260 |
| &nbsp;&nbsp;&nbsp;Las Vegas Sands Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 08/15/2029 |  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 513952 |
| &nbsp;&nbsp;&nbsp;LSEG US Financial Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 03/28/2034\* |  | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1119440 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.96%, 03/21/2035 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 234371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.42%, 07/21/2034 |  | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 716877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.47%, 01/18/2035 |  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51219 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Bank NA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 01/14/2028 |  | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 704071 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Bank NA FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.24%, (SOFR+0.90%), 01/12/2029 |  | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 902491 |
| &nbsp;&nbsp;&nbsp;ONEOK, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 09/24/2027 |  | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 398264 |
| &nbsp;&nbsp;&nbsp;PacifiCorp |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 02/15/2034 |  | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 302427 |
| &nbsp;&nbsp;&nbsp;Philip Morris International, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 01/15/2031 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 234917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 02/13/2034 |  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 506232 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 04/15/2027 |  | &nbsp;&nbsp; 328000 | &nbsp;&nbsp;&nbsp;&nbsp; 324115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 02/01/2028 |  | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 150134 |
| &nbsp;&nbsp;&nbsp;VMware, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 05/15/2030 |  | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 145037 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 01/23/2030 |  | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 919169 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14720002 |
| **Venezuela — 0.0%** | **Venezuela — 0.0%** | **Venezuela — 0.0%** | **Venezuela — 0.0%** |
| &nbsp;&nbsp;&nbsp;Petroleos de Venezuela SA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 04/12/2027†(1)(2) |  | &nbsp;&nbsp; 390000 | &nbsp;&nbsp;&nbsp;&nbsp; 53677 |
| **Total Corporate Bonds & Notes<br> (cost $42,268,755)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43392657 |
| **ASSET BACKED SECURITIES — 8.7%** | **ASSET BACKED SECURITIES — 8.7%** | **ASSET BACKED SECURITIES — 8.7%** | **ASSET BACKED SECURITIES — 8.7%** |
| **Cayman Islands — 2.8%** | **Cayman Islands — 2.8%** | **Cayman Islands — 2.8%** | **Cayman Islands — 2.8%** |
| &nbsp;&nbsp;&nbsp;AMMC CLO 24, Ltd. FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-24A, Class AR<br> 5.53%, (TSFR3M+1.20%), 01/20/2035\* |  | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 700187 |
| &nbsp;&nbsp;&nbsp;Bain Capital Credit CLO, Ltd. FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-5A, Class A1R<br> 5.47%, (TSFR3M+1.15%), 10/23/2034\* |  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 500926 |
| &nbsp;&nbsp;&nbsp;Crown Point CLO 7, Ltd. FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-7A, Class AR<br> 5.56%, (TSFR3M+1.23%), 10/20/2031\* |  | &nbsp;&nbsp; 456381 | &nbsp;&nbsp;&nbsp;&nbsp; 456466 |
| &nbsp;&nbsp;&nbsp;ICG US CLO, Ltd. FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-1A, Class ARR<br> 5.75%, (TSFR3M+1.43%), 07/28/2034\* |  | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp;&nbsp;&nbsp; 2101038 |
| &nbsp;&nbsp;&nbsp;Invesco CLO, Ltd. FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2A, Class A<br> 5.70%, (TSFR3M+1.38%), 07/15/2034\* |  | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 601381 |
| &nbsp;&nbsp;&nbsp;Northwoods Capital, Ltd. FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-14BA, Class AR<br> 5.48%, (TSFR3M+1.25%), 11/13/2031\* |  | &nbsp;&nbsp; 833639 | &nbsp;&nbsp;&nbsp;&nbsp; 833215 |
| &nbsp;&nbsp;&nbsp;Silver Rock CLO II, Ltd. FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2A, Class AR<br> 5.37%, (TSFR3M+1.04%), 01/20/2035\* |  | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 599411 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** | | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Cayman Islands (continued)** | **Cayman Islands (continued)** | **Cayman Islands (continued)** | **Cayman Islands (continued)** |
| &nbsp;&nbsp;&nbsp;Trinitas CLO VI, Ltd. FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-6A, Class ARRR<br> 5.65%, (TSFR3M+1.33%), 01/25/2034\* |  | $700000 | &nbsp;&nbsp;$700744 |
| &nbsp;&nbsp;&nbsp;Trinitas CLO XIV, Ltd. FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-14A, Class A1R<br> 5.66%, (TSFR3M+1.34%), 01/25/2034\* |  | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1500126 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7993494 |
| **Ireland — 3.3%** | **Ireland — 3.3%** | **Ireland — 3.3%** | **Ireland — 3.3%** |
| &nbsp;&nbsp;&nbsp;Arbour CLO DAC FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 11A, Class AR<br> 3.47%, (3 ME+1.33%), 05/15/2038\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp;&nbsp;&nbsp; 1598870 |
| &nbsp;&nbsp;&nbsp;Grosvenor Place CLO DAC FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2A, Class A<br> 3.27%, (3 ME+1.24%), 01/15/2039\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 798223 |
| &nbsp;&nbsp;&nbsp;Hayfin Emerald CLO X DAC FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-10A, Class AR<br> 3.37%, (3 ME+1.35%), 07/18/2038\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp;&nbsp;&nbsp; 1599422 |
| &nbsp;&nbsp;&nbsp;Invesco Euro CLO V DAC FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-5A, Class AR<br> 3.05%, (3 ME+1.02%), 01/15/2034\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1255540 |
| &nbsp;&nbsp;&nbsp;Palmer Square European Loan Funding DAC FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2A, Class A<br> 3.13%, (3 ME+0.99%), 05/15/2034\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 618896 | &nbsp;&nbsp;&nbsp;&nbsp; 706377 |
| &nbsp;&nbsp;&nbsp;Providus CLO II DAC FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2A, Class ARR<br> 3.19%, (3 ME+1.16%), 10/15/2038\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 913739 |
| &nbsp;&nbsp;&nbsp;Rockford Tower Europe CLO DAC FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2A, Class A<br> 2.90%, (3 ME+0.96%), 01/24/2035\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp;&nbsp;&nbsp; 1594442 |
| &nbsp;&nbsp;&nbsp;St Pauls CLO FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 11A, Class AR<br> 2.89%, (3 ME+0.85%), 01/17/2032\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 645889 | &nbsp;&nbsp;&nbsp;&nbsp; 734160 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200773 |
| **Jersey — 0.4%** | **Jersey — 0.4%** | **Jersey — 0.4%** | **Jersey — 0.4%** |
| &nbsp;&nbsp;&nbsp;Bain Capital Credit CLO, Ltd. FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-4A, Class A1RR<br> 5.31%, (TSFR3M+0.99%), 04/23/2035\* |  | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 400275 |
| &nbsp;&nbsp;&nbsp;Verdelite Static CLO, Ltd. FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A<br> 5.46%, (TSFR3M+1.13%), 07/20/2032\* |  | &nbsp;&nbsp; 871393 | &nbsp;&nbsp;&nbsp;&nbsp; 870944 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1271219 |
| **United States — 2.2%** | **United States — 2.2%** | **United States — 2.2%** | **United States — 2.2%** |
| &nbsp;&nbsp;&nbsp;Barclays Dryrock Issuance Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1, Class A<br> 4.72%, 02/15/2029 |  | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 901742 |
| &nbsp;&nbsp;&nbsp;Citibank Credit Card Issuance Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-A1, Class A1<br> 5.23%, 12/08/2027 |  | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 601383 |
| &nbsp;&nbsp;&nbsp;Citigroup Mtg. Loan Trust, Inc. FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-HE4, Class M2<br> 5.14%, (TSFR1M+0.78%), 10/25/2035 |  | &nbsp;&nbsp; 25630 | &nbsp;&nbsp;&nbsp;&nbsp; 25219 |
| &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class A<br> 4.87%, 08/15/2036\* |  | &nbsp;&nbsp; 725000 | &nbsp;&nbsp;&nbsp;&nbsp; 736511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-C, Class A2A<br> 5.68%, 09/15/2026 |  | &nbsp;&nbsp; 12790 | &nbsp;&nbsp;&nbsp;&nbsp; 12793 |
| &nbsp;&nbsp;&nbsp;GMF Floorplan Owner Revolving Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1, Class A1<br> 5.34%, 06/15/2028\* |  | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 705218 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PIMCO Global Bond Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** | | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp;Home Equity Loan Trust FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-FRE1, Class 2AV3<br> 4.70%, (TSFR1M+0.34%), 04/25/2037 |  | $172724 | &nbsp;&nbsp;$166433 |
| &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-4, Class A3<br> 5.67%, 06/21/2028 |  | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1261319 |
| &nbsp;&nbsp;&nbsp;Hyundai Auto Lease Securitization Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-A, Class A2A<br> 5.15%, 06/15/2026\* |  | &nbsp;&nbsp; 160170 | &nbsp;&nbsp;&nbsp;&nbsp; 160235 |
| &nbsp;&nbsp;&nbsp;JPMorgan Mtg. Trust FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-HE3, Class A1<br> 5.95%, (SOFR30A+1.60%), 05/20/2054\* |  | &nbsp;&nbsp; 147894 | &nbsp;&nbsp;&nbsp;&nbsp; 148762 |
| &nbsp;&nbsp;&nbsp;Nissan Auto Lease Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-A, Class A2A<br> 5.11%, 10/15/2026 |  | &nbsp;&nbsp; 507402 | &nbsp;&nbsp;&nbsp;&nbsp; 507765 |
| &nbsp;&nbsp;&nbsp;Nissan Auto Receivables Owner Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-B, Class A3<br> 5.93%, 03/15/2028 |  | &nbsp;&nbsp; 213867 | &nbsp;&nbsp;&nbsp;&nbsp; 215475 |
| &nbsp;&nbsp;&nbsp;SLM Student Loan Trust FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-1, Class A5A<br> 4.71%, (SOFR90A+0.37%), 12/15/2032\* |  | &nbsp;&nbsp; 545862 | &nbsp;&nbsp;&nbsp;&nbsp; 513937 |
| &nbsp;&nbsp;&nbsp;Sunnova Hestia I Issuer LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-GRID1, Class 1A<br> 5.75%, 12/20/2050\* |  | &nbsp;&nbsp; 88762 | &nbsp;&nbsp;&nbsp;&nbsp; 88887 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6045679 |
| **Total Asset Backed Securities<br> (cost $23,909,503)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24511165 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 12.6%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 12.6%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 12.6%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 12.6%** |
| **Cayman Islands — 0.2%** | **Cayman Islands — 0.2%** | **Cayman Islands — 0.2%** | **Cayman Islands — 0.2%** |
| &nbsp;&nbsp;&nbsp;Arbor Realty Commercial Real Estate Notes, Ltd. FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-FL1, Class A 5.79%, (SOFR30A+1.45%), 01/15/2037\* |  | &nbsp;&nbsp; 544569 | &nbsp;&nbsp;&nbsp;&nbsp; 544739 |
| **Ireland — 0.3%** | **Ireland — 0.3%** | **Ireland — 0.3%** | **Ireland — 0.3%** |
| &nbsp;&nbsp;&nbsp;Kinbane DAC FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RPL2A, Class A 3.00%, (1 ME+1.10%), 01/24/2063\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 627442 | &nbsp;&nbsp;&nbsp;&nbsp; 715738 |
| **United Kingdom — 0.8%** | **United Kingdom — 0.8%** | **United Kingdom — 0.8%** | **United Kingdom — 0.8%** |
| &nbsp;&nbsp;&nbsp;Braccan Mtg. Funding PLC FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1A, Class A<br> 5.08%, (SONIA+0.84%), 05/17/2067\* | &nbsp;&nbsp;GBP | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1327125 |
| &nbsp;&nbsp;&nbsp;Tower Bridge Funding PLC FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-3A, Class A<br> 5.02%, (SONIA+0.79%), 12/20/2066\* | &nbsp;&nbsp;GBP | &nbsp;&nbsp; 693725 | &nbsp;&nbsp;&nbsp;&nbsp; 917534 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2244659 |
| **United States — 11.3%** | **United States — 11.3%** | **United States — 11.3%** | **United States — 11.3%** |
| &nbsp;&nbsp;&nbsp;BANK |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-BNK46, Class A4<br> 5.75%, 08/15/2056 |  | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 938256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-5YR4, Class A3<br> 6.50%, 12/15/2056 |  | &nbsp;&nbsp; 259684 | &nbsp;&nbsp;&nbsp;&nbsp; 272247 |
| &nbsp;&nbsp;&nbsp;BANK VRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-BN13, Class A5<br> 4.22%, 08/15/2061(3) |  | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 789295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-5YR3, Class A3<br> 6.72%, 09/15/2056(3) |  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 527219 |
| &nbsp;&nbsp;&nbsp;BBCMS Mtg. Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-C24, Class A5<br> 5.42%, 02/15/2057 |  | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 384975 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-C20, Class ASB<br> 5.86%, 07/15/2056 | $600000 | &nbsp;&nbsp;$633331 |
| &nbsp;&nbsp;&nbsp;BDS LLC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-FL14, Class A<br> 5.63%, (TSFR1M+1.28%), 10/21/2042\* | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 699125 |
| &nbsp;&nbsp;&nbsp;Benchmark Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-B39, Class A5<br> 5.75%, 07/15/2056 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 628174 |
| &nbsp;&nbsp;&nbsp;BLP Commercial Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-IND2, Class A<br> 5.68%, (TSFR1M+1.34%), 03/15/2041\* | &nbsp;&nbsp; 521855 | &nbsp;&nbsp;&nbsp;&nbsp; 522897 |
| &nbsp;&nbsp;&nbsp;BMO Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-C3, Class A5<br> 5.31%, 09/15/2054 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 152052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-C5, Class A5<br> 5.77%, 06/15/2056 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 829418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-C5, Class ASB<br> 5.99%, 06/15/2056 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 837039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-C7, Class A5<br> 6.16%, 12/15/2056 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1170958 |
| &nbsp;&nbsp;&nbsp;BRAVO Residential Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-NQM1, Class A1<br> 5.94%, 12/01/2063\* | &nbsp;&nbsp; 626280 | &nbsp;&nbsp;&nbsp;&nbsp; 627299 |
| &nbsp;&nbsp;&nbsp;BX Commercial Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-XL5, Class A<br> 5.73%, (TSFR1M+1.39%), 03/15/2041\* | &nbsp;&nbsp; 388541 | &nbsp;&nbsp;&nbsp;&nbsp; 389342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-XL4, Class A<br> 5.78%, (TSFR1M+1.44%), 02/15/2039\* | &nbsp;&nbsp; 923295 | &nbsp;&nbsp;&nbsp;&nbsp; 924738 |
| &nbsp;&nbsp;&nbsp;Chase Home Lending Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-6, Class A11<br> 5.60%, (SOFR30A+1.25%), 05/25/2055\* | &nbsp;&nbsp; 984557 | &nbsp;&nbsp;&nbsp;&nbsp; 982471 |
| &nbsp;&nbsp;&nbsp;Chase Home Lending Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RPL3, Class A1A<br> 3.25%, 09/25/2064\*(3) | &nbsp;&nbsp; 741419 | &nbsp;&nbsp;&nbsp;&nbsp; 655562 |
| &nbsp;&nbsp;&nbsp;Citigroup Commercial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-PRM3, Class A<br> 6.57%, 07/10/2028\*(3) | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 519789 |
| &nbsp;&nbsp;&nbsp;Citigroup Commercial Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-C7, Class A4<br> 3.10%, 12/15/2072 | &nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 238392 |
| &nbsp;&nbsp;&nbsp;Countrywide Alternative Loan Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-82, Class A1<br> 5.01%, (TSFR1M+0.65%), 02/25/2036 | &nbsp;&nbsp; 184985 | &nbsp;&nbsp;&nbsp;&nbsp; 157391 |
| &nbsp;&nbsp;&nbsp;Cross Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-H4, Class A1<br> 6.15%, 07/25/2069\* | &nbsp;&nbsp; 1142477 | &nbsp;&nbsp;&nbsp;&nbsp; 1149616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-H3, Class A1<br> 6.27%, 06/25/2069\* | &nbsp;&nbsp; 1148506 | &nbsp;&nbsp;&nbsp;&nbsp; 1158016 |
| &nbsp;&nbsp;&nbsp;CSMC Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-RPL3, Class A1<br> 2.00%, 01/25/2060\*(3) | &nbsp;&nbsp; 1478112 | &nbsp;&nbsp;&nbsp;&nbsp; 1297877 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. REMIC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 5426, Class BF<br> 5.21%, (SOFR30A+0.90%), 04/15/2049 | &nbsp;&nbsp; 686749 | &nbsp;&nbsp;&nbsp;&nbsp; 687781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 5513, Class MF<br> 5.29%, (SOFR30A+0.94%), 11/25/2054 | &nbsp;&nbsp; 933645 | &nbsp;&nbsp;&nbsp;&nbsp; 934385 |
| &nbsp;&nbsp;&nbsp;Federal National Mtg. Assoc. REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-153, Class B<br> 7.00%, 07/25/2042 | &nbsp;&nbsp; 112291 | &nbsp;&nbsp;&nbsp;&nbsp; 121941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-111, Class B<br> 7.00%, 10/25/2042 | &nbsp;&nbsp; 30821 | &nbsp;&nbsp;&nbsp;&nbsp; 33088 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PIMCO Global Bond Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp;Federal National Mtg. Assoc. REMIC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-19, Class FC<br> 5.51%, (SOFR30A+1.16%), 03/25/2055 | $850505 | &nbsp;&nbsp;$850493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-90, Class FA<br> 5.85%, (SOFR30A+1.50%), 12/25/2054 | &nbsp;&nbsp; 891637 | &nbsp;&nbsp;&nbsp;&nbsp; 896548 |
| &nbsp;&nbsp;&nbsp;GCAT Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-NQM2, Class A1<br> 6.09%, 06/25/2059\* | &nbsp;&nbsp; 847869 | &nbsp;&nbsp;&nbsp;&nbsp; 852528 |
| &nbsp;&nbsp;&nbsp;GS Mtg. Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-GS7, Class A4<br> 3.43%, 08/10/2050 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 436235 |
| &nbsp;&nbsp;&nbsp;JPMorgan Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-LTV2, Class A1<br> 2.52%, 05/25/2052\*(3) | &nbsp;&nbsp; 550127 | &nbsp;&nbsp;&nbsp;&nbsp; 456526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class A2<br> 6.00%, 06/25/2054\*(3) | &nbsp;&nbsp; 612924 | &nbsp;&nbsp;&nbsp;&nbsp; 616101 |
| &nbsp;&nbsp;&nbsp;Lehman XS Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-7N, Class 1A2<br> 4.95%, (TSFR1M+0.59%), 06/25/2047 | &nbsp;&nbsp; 135011 | &nbsp;&nbsp;&nbsp;&nbsp; 124771 |
| &nbsp;&nbsp;&nbsp;Mill City Mtg. Loan Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-2, Class A3<br> 3.25%, 07/25/2059\*(3) | &nbsp;&nbsp; 61542 | &nbsp;&nbsp;&nbsp;&nbsp; 60091 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-L5, Class A4<br> 2.73%, 05/15/2054 | &nbsp;&nbsp; 812000 | &nbsp;&nbsp;&nbsp;&nbsp; 724497 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-L8, Class A5<br> 3.79%, 04/15/2055(3) | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 598750 |
| &nbsp;&nbsp;&nbsp;MSWF Commercial Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-2, Class A2<br> 6.89%, 12/15/2056 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 498808 |
| &nbsp;&nbsp;&nbsp;MSWF Commercial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-2, Class A5<br> 6.01%, 12/15/2056(3) | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 532710 |
| &nbsp;&nbsp;&nbsp;OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-NQM2, Class A1<br> 5.88%, 12/25/2063\* | &nbsp;&nbsp; 1126487 | &nbsp;&nbsp;&nbsp;&nbsp; 1128924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-NQM1, Class A1<br> 5.93%, 11/25/2063\* | &nbsp;&nbsp; 679895 | &nbsp;&nbsp;&nbsp;&nbsp; 682514 |
| &nbsp;&nbsp;&nbsp;One Bryant Park Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-OBP, Class A<br> 2.52%, 09/15/2054\* | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 634045 |
| &nbsp;&nbsp;&nbsp;One New York Plaza Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-1NYP, Class A<br> 5.41%, (TSFR1M+1.06%), 01/15/2036\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 391351 |
| &nbsp;&nbsp;&nbsp;PRPM LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RCF3, Class A1<br> 4.00%, 05/25/2054\* | &nbsp;&nbsp; 892442 | &nbsp;&nbsp;&nbsp;&nbsp; 874706 |
| &nbsp;&nbsp;&nbsp;Sequoia Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-10, Class A3A<br> 5.22%, (TSFR6M+1.09%), 11/20/2034 | &nbsp;&nbsp; 9304 | &nbsp;&nbsp;&nbsp;&nbsp; 8450 |
| &nbsp;&nbsp;&nbsp;Starwood Mtg. Residential Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1, Class A1<br> 2.45%, 12/25/2066\*(3) | &nbsp;&nbsp; 589906 | &nbsp;&nbsp;&nbsp;&nbsp; 530848 |
| &nbsp;&nbsp;&nbsp;Towd Point Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-3, Class A1A<br> 5.08%, 07/25/2065\*(3) | &nbsp;&nbsp; 1038538 | &nbsp;&nbsp;&nbsp;&nbsp; 1050596 |
| &nbsp;&nbsp;&nbsp;Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-5, Class A1<br> 6.19%, 06/25/2069\* | &nbsp;&nbsp; 458843 | &nbsp;&nbsp;&nbsp;&nbsp; 461572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-4, Class A1<br> 6.22%, 06/25/2069\* | &nbsp;&nbsp; 452347 | &nbsp;&nbsp;&nbsp;&nbsp; 455920 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp;Washington Mutual Mtg. Pass-Through Certs. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-AR5, Class 4A<br> 4.96%, (12 MTA+0.99%), 06/25/2046 | $174024 | &nbsp;&nbsp;$141462 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Alternative Loan Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-PA6, Class A1<br> 6.40%, 12/28/2037(3) | &nbsp;&nbsp; 68333 | &nbsp;&nbsp;&nbsp;&nbsp; 62110 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-C62, Class A4<br> 4.00%, 04/15/2055(3) | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 446331 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Mtg. Backed Securities Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-3, Class A1<br> 3.50%, 07/25/2049\*(3) | &nbsp;&nbsp; 18058 | &nbsp;&nbsp;&nbsp;&nbsp; 16303 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31795864 |
| **Total Collateralized Mortgage Obligations<br> (cost $34,994,833)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35301000 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 78.8%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 78.8%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 78.8%** |
| **United States — 78.8%** | **United States — 78.8%** | **United States — 78.8%** |
| &nbsp;&nbsp;&nbsp;United States Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 08/15/2049(4) | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 185625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 11/15/2049(4) | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 444418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 02/15/2048 to 08/15/2048 | &nbsp;&nbsp; 2450000 | &nbsp;&nbsp;&nbsp;&nbsp; 1795916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 11/15/2048 | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp;&nbsp;&nbsp; 2187828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 08/15/2044 | &nbsp;&nbsp; 9325000 | &nbsp;&nbsp;&nbsp;&nbsp; 8443496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 11/15/2054 | &nbsp;&nbsp; 8500000 | &nbsp;&nbsp;&nbsp;&nbsp; 7974062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 02/15/2055 | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp;&nbsp;&nbsp; 2682313 |
| &nbsp;&nbsp;&nbsp;United States Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.13%, 10/15/2025(5)(6) | &nbsp;&nbsp; 1486620 | &nbsp;&nbsp;&nbsp;&nbsp; 1483263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13%, 01/15/2033(6) | &nbsp;&nbsp; 3454193 | &nbsp;&nbsp;&nbsp;&nbsp; 3295434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 10/15/2028(6)(7) | &nbsp;&nbsp; 5038878 | &nbsp;&nbsp;&nbsp;&nbsp; 5222440 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 09/01/2053 | &nbsp;&nbsp; 2458912 | &nbsp;&nbsp;&nbsp;&nbsp; 2400684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 01/01/2053 to 07/01/2054 | &nbsp;&nbsp; 26990690 | &nbsp;&nbsp;&nbsp;&nbsp; 27382459 |
| &nbsp;&nbsp;&nbsp;Federal National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 07/01/2030 to 08/01/2030 | &nbsp;&nbsp; 267747 | &nbsp;&nbsp;&nbsp;&nbsp; 258259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 06/01/2052 | &nbsp;&nbsp; 191294 | &nbsp;&nbsp;&nbsp;&nbsp; 163803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 12/01/2054 | &nbsp;&nbsp; 193173 | &nbsp;&nbsp;&nbsp;&nbsp; 172814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/01/2053 to 05/01/2054 | &nbsp;&nbsp; 896398 | &nbsp;&nbsp;&nbsp;&nbsp; 873476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 11/01/2053 to 04/01/2054 | &nbsp;&nbsp; 2181740 | &nbsp;&nbsp;&nbsp;&nbsp; 2174388 |
| &nbsp;&nbsp;&nbsp;Government National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 07/20/2051 to 02/20/2055 | &nbsp;&nbsp; 3264772 | &nbsp;&nbsp;&nbsp;&nbsp; 2820290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, August 30 TBA | &nbsp;&nbsp; 6900000 | &nbsp;&nbsp;&nbsp;&nbsp; 6027983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 09/20/2052 to 06/20/2055 | &nbsp;&nbsp; 16399988 | &nbsp;&nbsp;&nbsp;&nbsp; 14742438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, August 30 TBA | &nbsp;&nbsp; 6100000 | &nbsp;&nbsp;&nbsp;&nbsp; 6261050 |
| &nbsp;&nbsp;&nbsp;Uniform Mtg. Backed Securities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, September 30 TBA | &nbsp;&nbsp; 5800000 | &nbsp;&nbsp;&nbsp;&nbsp; 4963687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, September 30 TBA | &nbsp;&nbsp; 46400000 | &nbsp;&nbsp;&nbsp;&nbsp; 45130997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, September 30 TBA | &nbsp;&nbsp; 3605000 | &nbsp;&nbsp;&nbsp;&nbsp; 3651448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, August 30 TBA | &nbsp;&nbsp; 65200000 | &nbsp;&nbsp;&nbsp;&nbsp; 67248081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, September 30 TBA | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp;&nbsp;&nbsp; 2782388 |
| **Total U.S. Government & Agency Obligations<br> (cost $220,258,204)** |  | &nbsp;&nbsp;&nbsp;&nbsp;220769040 |
| **MUNICIPAL SECURITIES — 0.1%** | **MUNICIPAL SECURITIES — 0.1%** | **MUNICIPAL SECURITIES — 0.1%** |
| **United States — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Maricopa County Industrial Development Authority<br> Revenue Bonds<br> 7.38%, 10/01/2029\*<br> (cost $200,000) | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206384 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PIMCO Global Bond Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** | | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS — 33.6%** | **FOREIGN GOVERNMENT OBLIGATIONS — 33.6%** | **FOREIGN GOVERNMENT OBLIGATIONS — 33.6%** | **FOREIGN GOVERNMENT OBLIGATIONS — 33.6%** |
| **Australia — 1.5%** | **Australia — 1.5%** | **Australia — 1.5%** | **Australia — 1.5%** |
| &nbsp;&nbsp;&nbsp;New South Wales Treasury Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 03/20/2034 | &nbsp;&nbsp;AUD | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp;$863822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 03/08/2033 | &nbsp;&nbsp;AUD | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 215763 |
| &nbsp;&nbsp;&nbsp;Queensland Treasury Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 08/20/2032\* | &nbsp;&nbsp;AUD | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 264428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 07/20/2034\* | &nbsp;&nbsp;AUD | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 399924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 08/22/2033 | &nbsp;&nbsp;AUD | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1058367 |
| &nbsp;&nbsp;&nbsp;Treasury Corp. of Victoria |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 09/17/2035 | &nbsp;&nbsp;AUD | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 293473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 09/15/2033 | &nbsp;&nbsp;AUD | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;&nbsp;&nbsp; 699000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 12/20/2032 | &nbsp;&nbsp;AUD | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 379933 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4174710 |
| **Belgium — 0.3%** | **Belgium — 0.3%** | **Belgium — 0.3%** | **Belgium — 0.3%** |
| &nbsp;&nbsp;&nbsp;Region Wallonne Belgium |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 01/14/2038 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 830281 |
| **Bulgaria — 0.3%** | **Bulgaria — 0.3%** | **Bulgaria — 0.3%** | **Bulgaria — 0.3%** |
| &nbsp;&nbsp;&nbsp;Government of Bulgaria |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 07/18/2035 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 450838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 07/18/2045 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 335585 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786423 |
| **Canada — 0.9%** | **Canada — 0.9%** | **Canada — 0.9%** | **Canada — 0.9%** |
| &nbsp;&nbsp;&nbsp;Government of Canada |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 03/01/2030 | &nbsp;&nbsp;CAD | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 71360 |
| &nbsp;&nbsp;&nbsp;Province of British Columbia, Canada |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 06/18/2034 | &nbsp;&nbsp;CAD | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 367971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 06/18/2040 | &nbsp;&nbsp;CAD | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 305029 |
| &nbsp;&nbsp;&nbsp;Province of Ontario, Canada |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 06/02/2033 | &nbsp;&nbsp;CAD | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 143675 |
| &nbsp;&nbsp;&nbsp;Province of Quebec, Canada |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 09/01/2033 | &nbsp;&nbsp;CAD | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1070471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 09/01/2034 | &nbsp;&nbsp;CAD | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 450671 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2409177 |
| **France — 6.8%** | **France — 6.8%** | **France — 6.8%** | **France — 6.8%** |
| &nbsp;&nbsp;&nbsp;Government of France |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75%, 02/25/2028\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 3050000 | &nbsp;&nbsp;&nbsp;&nbsp; 3356564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 10/25/2027\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 2750000 | &nbsp;&nbsp;&nbsp;&nbsp; 3179991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 02/25/2030\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 9600000 | &nbsp;&nbsp;&nbsp;&nbsp; 11032062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 04/25/2041\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;&nbsp;&nbsp; 1614916 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19183533 |
| **Hungary — 0.2%** | **Hungary — 0.2%** | **Hungary — 0.2%** | **Hungary — 0.2%** |
| &nbsp;&nbsp;&nbsp;Republic of Hungary |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 03/26/2036 |  | $600000 | &nbsp;&nbsp;&nbsp;&nbsp; 580684 |
| **Israel — 1.1%** | **Israel — 1.1%** | **Israel — 1.1%** | **Israel — 1.1%** |
| &nbsp;&nbsp;&nbsp;State of Israel |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 02/19/2030 |  | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1124011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 03/12/2034 |  | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp;&nbsp;&nbsp; 1715355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 02/19/2035 |  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 202332 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3041698 |
| **Italy — 2.0%** | **Italy — 2.0%** | **Italy — 2.0%** | **Italy — 2.0%** |
| &nbsp;&nbsp;&nbsp;Republic of Italy |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10%, 08/26/2027 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp;&nbsp;&nbsp; 5467954 |
| **Japan — 5.0%** | **Japan — 5.0%** | **Japan — 5.0%** | **Japan — 5.0%** |
| &nbsp;&nbsp;&nbsp;Development Bank of Japan, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 08/28/2027\* |  | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 697565 |
| &nbsp;&nbsp;&nbsp;Government of Japan |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.60%, 06/20/2029 | &nbsp;&nbsp;JPY | &nbsp;&nbsp; 120000000 | &nbsp;&nbsp;&nbsp;&nbsp; 784146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.30%, 06/20/2052 | &nbsp;&nbsp;JPY | &nbsp;&nbsp; 160000000 | &nbsp;&nbsp;&nbsp;&nbsp; 734981 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** | | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.30%, 03/20/2063 | &nbsp;&nbsp;JPY | &nbsp;&nbsp; 140000000 | &nbsp;&nbsp;$541070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.40%, 12/20/2042 | &nbsp;&nbsp;JPY | &nbsp;&nbsp; 400000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2291777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.60%, 12/20/2053 | &nbsp;&nbsp;JPY | &nbsp;&nbsp; 50000000 | &nbsp;&nbsp;&nbsp;&nbsp; 242043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 12/20/2044 | &nbsp;&nbsp;JPY | &nbsp;&nbsp; 210000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1284384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 12/20/2054 | &nbsp;&nbsp;JPY | &nbsp;&nbsp; 642700000 | &nbsp;&nbsp;&nbsp;&nbsp; 3648985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.40%, 03/20/2045 | &nbsp;&nbsp;JPY | &nbsp;&nbsp; 109000000 | &nbsp;&nbsp;&nbsp;&nbsp; 708710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.40%, 03/20/2055 | &nbsp;&nbsp;JPY | &nbsp;&nbsp; 185000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1073920 |
| &nbsp;&nbsp;&nbsp;Government of Japan CPI Linked Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.10%, 03/10/2029(6) | &nbsp;&nbsp;JPY | &nbsp;&nbsp; 313961200 | &nbsp;&nbsp;&nbsp;&nbsp; 2143914 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14151495 |
| **Luxembourg — 0.6%** | **Luxembourg — 0.6%** | **Luxembourg — 0.6%** | **Luxembourg — 0.6%** |
| &nbsp;&nbsp;&nbsp;Eagle Funding Luxco Sarl |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 08/17/2030\* |  | $1600000 | &nbsp;&nbsp;&nbsp;&nbsp; 1607200 |
| **Malaysia — 0.2%** | **Malaysia — 0.2%** | **Malaysia — 0.2%** | **Malaysia — 0.2%** |
| &nbsp;&nbsp;&nbsp;Government of Malaysia |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 04/15/2031 | &nbsp;&nbsp;MYR | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 180877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.76%, 04/07/2037 | &nbsp;&nbsp;MYR | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp;&nbsp;&nbsp; 365104 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545981 |
| **Peru — 1.7%** | **Peru — 1.7%** | **Peru — 1.7%** | **Peru — 1.7%** |
| &nbsp;&nbsp;&nbsp;Republic of Peru |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 08/12/2034 | &nbsp;&nbsp;PEN | &nbsp;&nbsp; 9300000 | &nbsp;&nbsp;&nbsp;&nbsp; 2445492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.95%, 08/12/2031 | &nbsp;&nbsp;PEN | &nbsp;&nbsp; 7361000 | &nbsp;&nbsp;&nbsp;&nbsp; 2250069 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4695561 |
| **Poland — 0.8%** | **Poland — 0.8%** | **Poland — 0.8%** | **Poland — 0.8%** |
| &nbsp;&nbsp;&nbsp;Republic of Poland |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 03/18/2029 |  | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 505347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 02/12/2030 |  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 09/18/2034 |  | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1506784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 02/12/2035 |  | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 101947 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2318471 |
| **Romania — 0.9%** | **Romania — 0.9%** | **Romania — 0.9%** | **Romania — 0.9%** |
| &nbsp;&nbsp;&nbsp;Government of Romania |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 09/24/2031\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 459208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 05/30/2032\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 115331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 02/22/2036 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp;&nbsp;&nbsp; 1450645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 05/30/2037\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 329568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 09/10/2034\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 118320 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2473072 |
| **Saudi Arabia — 1.5%** | **Saudi Arabia — 1.5%** | **Saudi Arabia — 1.5%** | **Saudi Arabia — 1.5%** |
| &nbsp;&nbsp;&nbsp;Kingdom of Saudi Arabia |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 03/05/2032\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 457192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 03/05/2037\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 112261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 01/16/2030 |  | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2525423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 01/13/2028\* |  | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 813948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 01/13/2031\* |  | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 415614 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4324438 |
| **Serbia — 0.2%** | **Serbia — 0.2%** | **Serbia — 0.2%** | **Serbia — 0.2%** |
| &nbsp;&nbsp;&nbsp;Republic of Serbia |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.05%, 09/23/2036 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 352697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 06/12/2034\* |  | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 305950 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658647 |
| **Singapore — 0.7%** | **Singapore — 0.7%** | **Singapore — 0.7%** | **Singapore — 0.7%** |
| &nbsp;&nbsp;&nbsp;Republic of Singapore |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 07/01/2039 | &nbsp;&nbsp;SGD | &nbsp;&nbsp; 280000 | &nbsp;&nbsp;&nbsp;&nbsp; 220394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 06/01/2054 | &nbsp;&nbsp;SGD | &nbsp;&nbsp; 1731000 | &nbsp;&nbsp;&nbsp;&nbsp; 1621226 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1841620 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PIMCO Global Bond Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** | | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |
| **South Africa — 1.6%** | **South Africa — 1.6%** | **South Africa — 1.6%** | **South Africa — 1.6%** |
| &nbsp;&nbsp;&nbsp;Republic of South Africa |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 01/31/2030 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp; 28400000 | &nbsp;&nbsp;$1546833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.88%, 02/28/2035 | &nbsp;&nbsp;ZAR | &nbsp;&nbsp; 58800000 | &nbsp;&nbsp;&nbsp;&nbsp; 3077863 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4624696 |
| **South Korea — 0.3%** | **South Korea — 0.3%** | **South Korea — 0.3%** | **South Korea — 0.3%** |
| &nbsp;&nbsp;&nbsp;Korea Expressway Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 05/14/2027\* |  | $700000 | &nbsp;&nbsp;&nbsp;&nbsp; 707820 |
| **Spain — 6.3%** | **Spain — 6.3%** | **Spain — 6.3%** | **Spain — 6.3%** |
| &nbsp;&nbsp;&nbsp;Kingdom of Spain |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zero Coupon, 01/31/2028 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3786858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 04/30/2027\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp;&nbsp;&nbsp; 1583540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.40%, 05/31/2028 | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp;&nbsp;&nbsp; 2635059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 04/30/2035\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 340832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.45%, 10/31/2034\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 3410000 | &nbsp;&nbsp;&nbsp;&nbsp; 3983099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 10/31/2033\* | &nbsp;&nbsp;EUR | &nbsp;&nbsp; 4577000 | &nbsp;&nbsp;&nbsp;&nbsp; 5414590 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17743978 |
| **United Kingdom — 0.7%** | **United Kingdom — 0.7%** | **United Kingdom — 0.7%** | **United Kingdom — 0.7%** |
| &nbsp;&nbsp;&nbsp;United Kingdom Gilt Treasury |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 07/31/2053 | &nbsp;&nbsp;GBP | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 411537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 07/31/2054 | &nbsp;&nbsp;GBP | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 789231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 01/31/2056 | &nbsp;&nbsp;GBP | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 660787 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1861555 |
| **Venezuela — 0.0%** | **Venezuela — 0.0%** | **Venezuela — 0.0%** | **Venezuela — 0.0%** |
| &nbsp;&nbsp;&nbsp;Republic of Venezuela |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.25%, 05/07/2028†(1)(2) |  | &nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 44873 |
| **Total Foreign Government Obligations<br> (cost $92,448,891)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94073867 |
| **PURCHASED OPTIONS† — 0.0%** | **PURCHASED OPTIONS† — 0.0%** | **PURCHASED OPTIONS† — 0.0%** | **PURCHASED OPTIONS† — 0.0%** |
| **Purchased Options - Calls — 0.0%** | **Purchased Options - Calls — 0.0%** | **Purchased Options - Calls — 0.0%** | **Purchased Options - Calls — 0.0%** |
| &nbsp;&nbsp;&nbsp;Over the Counter call option on the USD vs. SEK (Expiration Date: 11/26/2025; Strike Price: USD 10.20; Counterparty: Bank of America, N.A.) |  | &nbsp;&nbsp; 568000 | &nbsp;&nbsp;&nbsp;&nbsp; 4250 |
| **Purchased Options - Puts — 0.0%** | **Purchased Options - Puts — 0.0%** | **Purchased Options - Puts — 0.0%** | **Purchased Options - Puts — 0.0%** |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the AUD vs. USD (Expiration Date: 10/08/2025; Strike Price: AUD 0.63; Counterparty: Goldman Sachs Bank USA) |  | &nbsp;&nbsp; 735000 | &nbsp;&nbsp;&nbsp;&nbsp; 2837 |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the EUR vs. HUF (Expiration Date: 08/25/2025; Strike Price: EUR 399.00; Counterparty: Bank of America, N.A.) |  | &nbsp;&nbsp; 521452 | &nbsp;&nbsp;&nbsp;&nbsp; 1400 |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the EUR vs. HUF (Expiration Date: 10/29/2025; Strike Price: EUR 397.00; Counterparty: Bank of America, N.A.) |  | &nbsp;&nbsp; 678000 | &nbsp;&nbsp;&nbsp;&nbsp; 2926 |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the EUR vs. USD (Expiration Date: 10/14/2025; Strike Price: EUR 1.13; Counterparty: Goldman Sachs Bank USA) |  | &nbsp;&nbsp; 6664000 | &nbsp;&nbsp;&nbsp;&nbsp; 50809 |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the EUR vs. USD (Expiration Date: 11/26/2025; Strike Price: EUR 1.12; Counterparty: Bank of America, N.A.) |  | &nbsp;&nbsp; 1784000 | &nbsp;&nbsp;&nbsp;&nbsp; 11045 |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the EUR vs. USD (Expiration Date: 12/17/2025; Strike Price: EUR 1.10; Counterparty: Goldman Sach Bank USA) |  | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 10606 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Purchased Options - Puts (continued)** | **Purchased Options - Puts (continued)** | **Purchased Options - Puts (continued)** |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the EUR vs. USD (Expiration Date: 12/17/2025; Strike Price: EUR 1.10; Counterparty: Goldman Sach Bank USA) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;$354 |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the USD vs. TWD (Expiration Date: 08/27/2026; Strike Price: USD 28.25; Counterparty: Bank of America, N.A.) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1057000 | &nbsp;&nbsp;&nbsp;&nbsp; 557 |
| &nbsp;&nbsp;&nbsp;Over the counter put option to enter into an interest rate swap for the right to pay a fixed rate of 4.70% versus USD-SOFR maturing 08/20/2025 (Counterparty: Goldman Sachs Bank USA) | &nbsp;&nbsp;&nbsp;&nbsp;25400000 | &nbsp;&nbsp;&nbsp;&nbsp; 3 |
| &nbsp;&nbsp;&nbsp;Over the counter put option to enter into an interest rate swap for the right to pay a fixed rate of 4.75% versus USD-SOFR maturing 08/20/2025 (Counterparty: Goldman Sachs Bank USA) | &nbsp;&nbsp;&nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80538 |
| **Total Purchased Options<br> (cost $112,021)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84788 |
| **Total Long-Term Investment Securities<br> (cost $414,192,207)** |  | &nbsp;&nbsp;&nbsp;&nbsp;418338901 |
| **SHORT-TERM INVESTMENTS — 5.6%** | **SHORT-TERM INVESTMENTS — 5.6%** | **SHORT-TERM INVESTMENTS — 5.6%** |
| **Commercial Paper — 2.0%** | **Commercial Paper — 2.0%** | **Commercial Paper — 2.0%** |
| &nbsp;&nbsp;&nbsp;Air Lease Corp.<br> 4.80%, 08/05/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp; 549641 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp.<br> 4.82%, 08/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 249632 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp.<br> 4.85%, 08/05/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp; 299804 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp.<br> 4.85%, 08/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 249050 |
| &nbsp;&nbsp;&nbsp;Alimentation Couche-Tard, Inc.<br> 4.59%, 08/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp; 348733 |
| &nbsp;&nbsp;&nbsp;Alimentation Couche-Tard, Inc.<br> 4.63%, 08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp; 799590 |
| &nbsp;&nbsp;&nbsp;Arrow Electronics, Inc.<br> 4.65%, 08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp; 349814 |
| &nbsp;&nbsp;&nbsp;Arrow Electronics, Inc.<br> 4.65%, 08/06/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp; 949243 |
| &nbsp;&nbsp;&nbsp;Bell Canada<br> 4.59%, 08/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 249162 |
| &nbsp;&nbsp;&nbsp;CBRE Services, Inc.<br> 4.60%, 09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp; 347717 |
| &nbsp;&nbsp;&nbsp;Edison International<br> 4.70%, 08/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 249618 |
| &nbsp;&nbsp;&nbsp;HCA, Inc.<br> 5.00%, 08/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 249255 |
| &nbsp;&nbsp;&nbsp;Imperial Brands Finance PLC<br> 4.53%, 08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 249873 |
| &nbsp;&nbsp;&nbsp;J.M. Smucker Co.<br> 4.55%, 08/05/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 249842 |
| &nbsp;&nbsp;&nbsp;Jones Lang LaSalle Finance BV<br> 4.71%, 08/13/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp; 249588 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5640562 |
| **Sovereign — 2.8%** | **Sovereign — 2.8%** | **Sovereign — 2.8%** |
| &nbsp;&nbsp;&nbsp;Federal Republic of Nigeria<br> 19.97%, 11/04/2025 &nbsp;&nbsp;NGN | &nbsp;&nbsp;&nbsp;&nbsp;150000000 | &nbsp;&nbsp;&nbsp;&nbsp; 91438 |
| &nbsp;&nbsp;&nbsp;Federal Republic of Nigeria<br> 24.56%, 06/11/2026 &nbsp;&nbsp;NGN | &nbsp;&nbsp;&nbsp;&nbsp;551000000 | &nbsp;&nbsp;&nbsp;&nbsp; 293942 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PIMCO Global Bond Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** | | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **SHORT-TERM INVESTMENTS (continued)** | **SHORT-TERM INVESTMENTS (continued)** | **SHORT-TERM INVESTMENTS (continued)** | **SHORT-TERM INVESTMENTS (continued)** |
| **Sovereign (continued)** | **Sovereign (continued)** | **Sovereign (continued)** | **Sovereign (continued)** |
| &nbsp;&nbsp;&nbsp;Federal Republic of Nigeria<br> 24.56%, 06/12/2026 | &nbsp;&nbsp;NGN | &nbsp;&nbsp; 551000000 | &nbsp;&nbsp;$293690 |
| &nbsp;&nbsp;&nbsp;Federal Republic of Nigeria<br> 36.05%, 06/29/2026 | &nbsp;&nbsp;NGN | &nbsp;&nbsp;1423082000 | &nbsp;&nbsp;&nbsp;&nbsp; 749203 |
| &nbsp;&nbsp;&nbsp;Federative Republic of Brazil<br> 12.57%, 10/01/2025 | &nbsp;&nbsp;BRL | &nbsp;&nbsp; 37300000 | &nbsp;&nbsp;&nbsp;&nbsp; 6505119 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7933392 |
| **U.S. Government — 0.1%** | **U.S. Government — 0.1%** | **U.S. Government — 0.1%** | **U.S. Government — 0.1%** |
| &nbsp;&nbsp;&nbsp;United States Treasury Bills |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.22%, 08/28/2025(4) |  | $1000 | &nbsp;&nbsp;&nbsp;&nbsp; 997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.23%, 11/18/2025(4) |  | &nbsp;&nbsp; 128000 | &nbsp;&nbsp;&nbsp;&nbsp; 126358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.24%, 10/02/2025(4) |  | &nbsp;&nbsp; 7000 | &nbsp;&nbsp;&nbsp;&nbsp; 6949 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134304 |
| **Unaffiliated Investment Companies — 0.7%** | **Unaffiliated Investment Companies — 0.7%** | **Unaffiliated Investment Companies — 0.7%** | **Unaffiliated Investment Companies — 0.7%** |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Administration Class<br> 4.00%(8) |  | &nbsp;&nbsp; 1957970 | &nbsp;&nbsp;&nbsp;&nbsp; 1957970 |
| **Total Short-Term Investments<br> (cost $15,432,635)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15666228 |
| **TOTAL INVESTMENTS<br> (cost $429,624,842)(9)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154.9% | &nbsp;&nbsp;&nbsp;&nbsp;434005129 |
| Other assets less liabilities |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54.9) | &nbsp;&nbsp;&nbsp;&nbsp;(153817692) |
| **NET ASSETS** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$280187437 |
| **FORWARD SALES CONTRACTS — (10.9%)** |  |  |  |
| **U.S. Government Agencies — (10.9%)** | **U.S. Government Agencies — (10.9%)** | **U.S. Government Agencies — (10.9%)** | **U.S. Government Agencies — (10.9%)** |
| **Uniform Mtg. Backed Securities — (10.9%)** | **Uniform Mtg. Backed Securities — (10.9%)** | **Uniform Mtg. Backed Securities — (10.9%)** | **Uniform Mtg. Backed Securities — (10.9%)** |
| &nbsp;&nbsp;&nbsp;2.00%, August 15 TBA |  | &nbsp;&nbsp; (4100000) | &nbsp;&nbsp;&nbsp;&nbsp; (3721628) |
| &nbsp;&nbsp;&nbsp;2.00%, August 30 TBA |  | &nbsp;&nbsp; (5900000) | &nbsp;&nbsp;&nbsp;&nbsp; (4614304) |
| &nbsp;&nbsp;&nbsp;4.00%, October 30 TBA |  | &nbsp;&nbsp; (1400000) | &nbsp;&nbsp;&nbsp;&nbsp; (1290103) |
| &nbsp;&nbsp;&nbsp;2.00%, September 30 TBA |  | &nbsp;&nbsp; (21000000) | &nbsp;&nbsp;&nbsp;&nbsp; (16432816) |
| &nbsp;&nbsp;&nbsp;4.50%, August 30 TBA |  | &nbsp;&nbsp; (100000) | &nbsp;&nbsp;&nbsp;&nbsp; (94849) |
| &nbsp;&nbsp;&nbsp;5.50%, September 30 TBA |  | &nbsp;&nbsp; (4500000) | &nbsp;&nbsp;&nbsp;&nbsp; (4472484) |
| **Total Forward Sales Contracts<br> (cost $(30690195))** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30626184) |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The SA PIMCO Global Bond Opportunities Portfolio has no right to demand registration of these securities. At July 31, 2025, the aggregate value of these securities was $90,820,661 representing 32.4% of net assets. |
| † | &nbsp;&nbsp;Non-income producing security |

---

(1) Security in default of interest.

(2) Denotes a restricted security that: (a) cannot be offered for public sale without first being registered, or being able to take advantage of an exemption from
registration, under the Securities Act of 1933, as amended (the "1933 Act"); (b) is subject to a contractual restriction on public sales; or (c) is otherwise subject to a restriction on sales by operation
of applicable law. Restricted securities are valued pursuant to Note 2. Certain restricted securities held by the Portfolio may not be sold except in exempt transactions or in a public offering registered
under the 1933 Act. The Portfolio has no right to demand registration of these securities. The risk of investing in certain restricted securities is greater than the risk of investing in the securities of widely held,
publicly traded companies. To the extent applicable, lack of a secondary market and resale restrictions may result in the inability of a Portfolio to sell a security at a fair price and may substantially delay the
sale of the security. In addition, certain restricted securities may exhibit greater price volatility than securities for which secondary markets exist. As of July 31, 2025, the Portfolio held the following restricted
securities:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition<br> Date** | **Shares or<br> Principal<br> Amount** | **Acquisition<br> Cost** | **Value** | **Value<br> Per Share** | **% of<br> Net Assets** |
| **<u>Corporate Bonds & Notes</u>** | **<u>Corporate Bonds & Notes</u>** | **<u>Corporate Bonds & Notes</u>** | **<u>Corporate Bonds & Notes</u>** | **<u>Corporate Bonds & Notes</u>** | **<u>Corporate Bonds & Notes</u>** | **<u>Corporate Bonds & Notes</u>** |
| &nbsp;&nbsp;&nbsp;Petroleos de Venezuela SA 5.38% ,<br> 04/12/2027 | 08/15/2017 | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;$6512 |  |  |  |
|  | 10/23/2017 | &nbsp;&nbsp;370000 | 109034 |  |  |  |
|  |  | &nbsp;&nbsp;390000 | 115546 | $53677 | $13.76 | 0.0% |
| **<u>Foreign Government Obligations</u>** | **<u>Foreign Government Obligations</u>** | **<u>Foreign Government Obligations</u>** | **<u>Foreign Government Obligations</u>** | **<u>Foreign Government Obligations</u>** | **<u>Foreign Government Obligations</u>** | **<u>Foreign Government Obligations</u>** |
| Republic of Venezuela 9.25%, 05/07/2028 | 07/27/2017 | $230000 | &nbsp;&nbsp;93621 | &nbsp;&nbsp;44873 | &nbsp;&nbsp;19.51 | 0.0 |
|  |  |  |  | $98550 |  | 0.0%\*\* |

---

\*\* Amount represents the total value of the restricted securities divided by the net assets of the Portfolio and may not equal the sum of the individual percentages shown due to rounding.

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

(4) The security or a portion thereof was pledged as collateral for open over-the-counter derivative contracts.

(5) The security or a portion thereof was pledged as collateral to cover margin requirements for open centrally cleared swap contracts.

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

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

(8) The rate shown is the 7-day yield as of July 31, 2025.

(9) See Note 4 for cost of investments on a tax basis.

---

| |
|:---|
| 1 ME—1 Month Euribor |
| 12 MTA—Federal Reserve US 12 Month Cumulative Average 1 Year CMT |
| 3 ME—3 Month Euribor |
| CLO—Collateralized Loan Obligation |
| CPI—Consumer Price Index |
| DAC—Designated Activity Company |
| EUR—Euro Currency |
| FRS—Floating Rate Security |
| REMIC—Real Estate Mortgage Investment Conduit |
| SOFR—Secured Overnight Financing Rate |
| SOFR30A—US 30 Day Average Secured Overnight Financing Rate |
| SOFR90A—US 90 Day Average Secured Overnight Financing Rate |
| SONIA—Sterling Overnight Index Average |
| TBA—Securities purchased on a forward commitment basis with an approximate principal amount and no definite maturity date. The actual principal amount and maturity date will be determined upon settlement date. |
| TSFR1M—Term Secured Overnight Financing Rate 1 Month |
| TSFR3M—Term Secured Overnight Financing Rate 3 Month |
| TSFR6M—Term Secured Overnight Financing Rate 6 Month |
| VRS—Variable Rate Security |

---

AUD—Australian Dollar <br> BRL—Brazilian Real <br> CAD—Canadian Dollar

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PIMCO Global Bond Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| |
|:---|
| EUR—Euro Currency |
| GBP—British Pound |
| JPY—Japanese Yen |
| MYR—Malaysian Ringgit |
| NGN—Nigerian Naira |
| PEN—Peruvian Sol |

---

SGD—Singapore Dollar <br> ZAR—South African Rand

The rates shown on FRS and/or VRS are the current interest rates at July 31, 2025 and unless noted otherwise, the dates shown are the original maturity dates.

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest Rate Swaps** | **Interest Rate Swaps** | **Interest Rate Swaps** | **Interest Rate Swaps** | **Interest Rate Swaps** | **Interest Rate Swaps** | **Interest Rate Swaps** | **Interest Rate Swaps** | **Interest Rate Swaps** | **Interest Rate Swaps** | **Interest Rate Swaps** |
| **Counterparty (OTC)/<br> Centrally cleared** | **Notional<br> amount** | &nbsp;&nbsp;&nbsp;**Currency** | **Payments<br> made** | **Payments<br> received** | **Fixed<br> payment<br> frequency** | **Floating<br> payment<br> frequency** | **Maturity<br> date** | **Upfront<br> payment paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value** |
| Goldman Sachs International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7300000 | &nbsp;&nbsp;&nbsp;MYR | Fixed 3.750% | 3-Month KLIBO | Quarterly | Quarterly | Sep 2034 | $(17536) | $(43905) | $(61441) |
| Goldman Sachs International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7860000 | &nbsp;&nbsp;&nbsp;MYR | 3-Month KLIBO | Fixed 3.500% | Quarterly | Quarterly | Mar 2030 | &nbsp;&nbsp;&nbsp; 3447 | &nbsp;&nbsp;&nbsp; 27430 | &nbsp;&nbsp;&nbsp; 30877 |
|  |  |  |  |  |  |  |  | $(14089) | $(16475) | $(30564) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.500% | 12-Month SOFR | Annual | Annual | Jun 2054 | $41651 | $15238 | $56889 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500000 | &nbsp;&nbsp;&nbsp;AUD | 6-Month BBSW | Fixed 4.000% | Semiannual | Semiannual | Jun 2033 | &nbsp;&nbsp;&nbsp;&nbsp; (144729) | &nbsp;&nbsp;&nbsp; 139152 | &nbsp;&nbsp;&nbsp;&nbsp; (5577) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;AUD | 6-Month BBSW | Fixed 4.500 | Semiannual | Semiannual | Mar 2029 | &nbsp;&nbsp;&nbsp; 907 | &nbsp;&nbsp;&nbsp; 46377 | &nbsp;&nbsp;&nbsp; 47284 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;42300000 | &nbsp;&nbsp;&nbsp;CAD | 12-Month CORRA | Fixed 3.500 | Annual | Annual | Dec 2025 | &nbsp;&nbsp;&nbsp;&nbsp; (54272) | &nbsp;&nbsp;&nbsp; 138804 | &nbsp;&nbsp;&nbsp; 84532 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;20800000 | &nbsp;&nbsp;&nbsp;GBP | 12-Month SONIA | Fixed 3.000 | Annual | Annual | Jun 2027 | &nbsp;&nbsp;&nbsp;&nbsp; (287163) | &nbsp;&nbsp;&nbsp; (50320) | &nbsp;&nbsp;&nbsp;&nbsp; (337483) |
| Centrally Cleared | 1730000000 | &nbsp;&nbsp;&nbsp;JPY | 12-Month TONA | Fixed 1.000 | Annual | Annual | Sep 2034 | &nbsp;&nbsp;&nbsp;&nbsp; (38157) | &nbsp;&nbsp;&nbsp;(245027) | &nbsp;&nbsp;&nbsp;&nbsp; (283184) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300000 | &nbsp;&nbsp;&nbsp;NZD | 3-Month NZDBB | Fixed 4.750 | Semiannual | Quarterly | Jun 2029 | &nbsp;&nbsp;&nbsp; 14289 | &nbsp;&nbsp;&nbsp; 52108 | &nbsp;&nbsp;&nbsp; 66397 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;EUR | 6-Month EURIBOR | Fixed 2.950 | Annual | Semiannual | Jun 2029 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 20026 | &nbsp;&nbsp;&nbsp; 20026 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;800000000 | &nbsp;&nbsp;&nbsp;JPY | 12-Month TONA | Fixed 1.000 | Annual | Annual | Jun 2044 | &nbsp;&nbsp;&nbsp;&nbsp; (354781) | &nbsp;&nbsp;&nbsp;(513840) | &nbsp;&nbsp;&nbsp;&nbsp; (868621) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.750 | 12-Month SOFR | Annual | Annual | Dec 2034 | &nbsp;&nbsp;&nbsp; 31575 | &nbsp;&nbsp;&nbsp; (17302) | &nbsp;&nbsp;&nbsp; 14273 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;CAD | 6-Month CORRA | Fixed 3.500 | Semiannual | Semiannual | Jun 2034 | &nbsp;&nbsp;&nbsp; 71496 | &nbsp;&nbsp;&nbsp; (14291) | &nbsp;&nbsp;&nbsp; 57205 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700000 | &nbsp;&nbsp;&nbsp;CAD | Fixed 3.500 | 6-Month CORRA | Semiannual | Semiannual | Jun 2054 | &nbsp;&nbsp;&nbsp; 26265 | &nbsp;&nbsp;&nbsp; (48885) | &nbsp;&nbsp;&nbsp;&nbsp; (22620) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2900000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.750 | 12-Month SOFR | Annual | Annual | Dec 2026 | &nbsp;&nbsp;&nbsp; 13368 | &nbsp;&nbsp;&nbsp; (6639) | &nbsp;&nbsp;&nbsp; 6729 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;122000000 | &nbsp;&nbsp;&nbsp;AUD | Fixed 3.750 | 6-Month BBSW | Semiannual | Semiannual | Mar 2030 | &nbsp;&nbsp;&nbsp;&nbsp; (156504) | &nbsp;&nbsp;&nbsp; 156505 | &nbsp;&nbsp;&nbsp; 1 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;430000000 | &nbsp;&nbsp;&nbsp;JPY | 12-Month TONA | Fixed 0.600 | Annual | Annual | Dec 2029 | &nbsp;&nbsp;&nbsp;&nbsp; (4402) | &nbsp;&nbsp;&nbsp; (42400) | &nbsp;&nbsp;&nbsp;&nbsp; (46802) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;470000000 | &nbsp;&nbsp;&nbsp;JPY | Fixed 0.400 | 6-Month TONA | Semiannual | Semiannual | Jun 2039 | &nbsp;&nbsp;&nbsp; 347410 | &nbsp;&nbsp;&nbsp; 168615 | &nbsp;&nbsp;&nbsp; 516025 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;33400000 | &nbsp;&nbsp;&nbsp;USD | Fixed 4.000 | 12-Month SOFR | Annual | Annual | Jun 2026 | &nbsp;&nbsp;&nbsp; 212486 | &nbsp;&nbsp;&nbsp;(171912) | &nbsp;&nbsp;&nbsp; 40574 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;245000000 | &nbsp;&nbsp;&nbsp;JPY | Fixed 1.500 | 12-Month TONA | Annual | Annual | Sep 2054 | &nbsp;&nbsp;&nbsp; 28401 | &nbsp;&nbsp;&nbsp; 284753 | &nbsp;&nbsp;&nbsp; 313154 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8700000 | &nbsp;&nbsp;&nbsp;EUR | 6-Month EURIBOR | Fixed 2.343 | Annual | Semiannual | Jan 2030 | &nbsp;&nbsp;&nbsp; 6894 | &nbsp;&nbsp;&nbsp; 3600 | &nbsp;&nbsp;&nbsp; 10494 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;EUR | 12-Month ESTR | Fixed 2.028 | Annual | Annual | Oct 2029 | &nbsp;&nbsp;&nbsp;&nbsp; (973) | &nbsp;&nbsp;&nbsp; (14593) | &nbsp;&nbsp;&nbsp;&nbsp; (15566) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3900000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.940 | 12-Month SOFR | Annual | Annual | Aug 2026 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3221 | &nbsp;&nbsp;&nbsp; 3221 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5600000 | &nbsp;&nbsp;&nbsp;AUD | 6-Month BBSW | Fixed 4.500 | Semiannual | Semiannual | Mar 2035 | &nbsp;&nbsp;&nbsp; 11389 | &nbsp;&nbsp;&nbsp; 85825 | &nbsp;&nbsp;&nbsp; 97214 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900000 | &nbsp;&nbsp;&nbsp;EUR | 12-Month ESTR | Fixed 1.795 | Annual | Annual | Oct 2029 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (24537) | &nbsp;&nbsp;&nbsp;&nbsp; (24537) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;AUD | 6-Month BBSW | Fixed 4.250 | Semiannual | Semiannual | Mar 2035 | &nbsp;&nbsp;&nbsp;&nbsp; (852) | &nbsp;&nbsp;&nbsp; 9619 | &nbsp;&nbsp;&nbsp; 8767 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400000 | &nbsp;&nbsp;&nbsp;EUR | 12-Month ESTR | Fixed 1.923 | Annual | Annual | Oct 2029 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (30973) | &nbsp;&nbsp;&nbsp;&nbsp; (30973) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;950000000 | &nbsp;&nbsp;&nbsp;JPY | 12-Month TONA | Fixed 1.000 | Annual | Annual | Mar 2035 | &nbsp;&nbsp;&nbsp;&nbsp; (97613) | &nbsp;&nbsp;&nbsp; (86881) | &nbsp;&nbsp;&nbsp;&nbsp; (184494) |
| Centrally Cleared | 1150000000 | &nbsp;&nbsp;&nbsp;JPY | 12-Month TONA | Fixed 1.000 | Annual | Annual | Mar 2032 | &nbsp;&nbsp;&nbsp;&nbsp; (29700) | &nbsp;&nbsp;&nbsp; (28453) | &nbsp;&nbsp;&nbsp;&nbsp; (58153) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;640000000 | &nbsp;&nbsp;&nbsp;JPY | 12-Month TONA | Fixed 0.750 | Annual | Annual | Mar 2030 | &nbsp;&nbsp;&nbsp;&nbsp; (28385) | &nbsp;&nbsp;&nbsp; (19267) | &nbsp;&nbsp;&nbsp;&nbsp; (47652) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;31000000 | &nbsp;&nbsp;&nbsp;GBP | 12-Month SONIA | Fixed 4.000 | Annual | Annual | Mar 2028 | &nbsp;&nbsp;&nbsp; 80244 | &nbsp;&nbsp;&nbsp; 240112 | &nbsp;&nbsp;&nbsp; 320356 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;24700000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.250 | 12-Month SOFR | Annual | Annual | Mar 2035 | &nbsp;&nbsp;&nbsp; 1590413 | &nbsp;&nbsp;&nbsp;(464367) | &nbsp;&nbsp;&nbsp; 1126046 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;80890000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.000 | 12-Month SOFR | Annual | Annual | Mar 2027 | &nbsp;&nbsp;&nbsp; 1346839 | &nbsp;&nbsp;&nbsp;(294808) | &nbsp;&nbsp;&nbsp; 1052031 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2390000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.250 | 12-Month SOFR | Annual | Annual | Mar 2055 | &nbsp;&nbsp;&nbsp; 304486 | &nbsp;&nbsp;&nbsp; 24862 | &nbsp;&nbsp;&nbsp; 329348 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.954 | 12-Month SOFR | Annual | Annual | Nov 2054 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 8434 | &nbsp;&nbsp;&nbsp; 8434 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.959 | 12-Month SOFR | Annual | Annual | Nov 2054 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 19347 | &nbsp;&nbsp;&nbsp; 19347 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.931 | 12-Month SOFR | Annual | Annual | Nov 2054 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 37478 | &nbsp;&nbsp;&nbsp; 37478 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.964 | 12-Month SOFR | Annual | Annual | Nov 2054 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 6082 | &nbsp;&nbsp;&nbsp; 6082 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.959 | 12-Month SOFR | Annual | Annual | Nov 2054 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3230 | &nbsp;&nbsp;&nbsp; 3230 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.998 | 12-Month SOFR | Annual | Annual | Nov 2054 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 16926 | &nbsp;&nbsp;&nbsp; 16926 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;USD | Fixed 4.116 | 12-Month SOFR | Annual | Annual | Nov 2054 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (1089) | &nbsp;&nbsp;&nbsp;&nbsp; (1089) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;USD | Fixed 4.000 | 12-Month SOFR | Annual | Annual | Feb 2035 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (8273) | &nbsp;&nbsp;&nbsp;&nbsp; (8273) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2900000 | &nbsp;&nbsp;&nbsp;GBP | 12-Month SONIA | Fixed 3.750 | Annual | Annual | Mar 2027 | &nbsp;&nbsp;&nbsp;&nbsp; (8178) | &nbsp;&nbsp;&nbsp; 10120 | &nbsp;&nbsp;&nbsp; 1942 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;GBP | 12-Month SONIA | Fixed 3.500 | Annual | Annual | Mar 2030 | &nbsp;&nbsp;&nbsp;&nbsp; (6380) | &nbsp;&nbsp;&nbsp; (4552) | &nbsp;&nbsp;&nbsp;&nbsp; (10932) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;GBP | Fixed 3.750 | 12-Month SONIA | Annual | Annual | Mar 2055 | &nbsp;&nbsp;&nbsp; 82391 | &nbsp;&nbsp;&nbsp; 37125 | &nbsp;&nbsp;&nbsp; 119516 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;41200000 | &nbsp;&nbsp;&nbsp;EUR | 6-Month EURIBOR | Fixed 2.000 | Annual | Semiannual | Sep 2027 | &nbsp;&nbsp;&nbsp;&nbsp; (217031) | &nbsp;&nbsp;&nbsp; 117528 | &nbsp;&nbsp;&nbsp;&nbsp; (99503) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;EUR | 6-Month EURIBOR | Fixed 2.250 | Annual | Semiannual | Sep 2030 | &nbsp;&nbsp;&nbsp;&nbsp; (8026) | &nbsp;&nbsp;&nbsp; (1620) | &nbsp;&nbsp;&nbsp;&nbsp; (9646) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;28120000 | &nbsp;&nbsp;&nbsp;EUR | 6-Month EURIBOR | Fixed 2.250 | Annual | Semiannual | Sep 2035 | &nbsp;&nbsp;&nbsp;&nbsp;(1069675) | &nbsp;&nbsp;&nbsp;(158500) | &nbsp;&nbsp;&nbsp;&nbsp;(1228175) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8590000 | &nbsp;&nbsp;&nbsp;EUR | Fixed 2.250 | 6-Month EURIBOR | Annual | Semiannual | Sep 2055 | &nbsp;&nbsp;&nbsp; 888370 | &nbsp;&nbsp;&nbsp; 289301 | &nbsp;&nbsp;&nbsp; 1177671 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.765 | 12-Month SOFR | Annual | Annual | Feb 2055 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 117856 | &nbsp;&nbsp;&nbsp; 117856 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.773 | 12-Month SOFR | Annual | Annual | Mar 2055 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9566 | &nbsp;&nbsp;&nbsp; 9566 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7900000 | &nbsp;&nbsp;&nbsp;EUR | Fixed 2.213 | 6-Month EURIBOR | Annual | Semiannual | Mar 2055 | &nbsp;&nbsp;&nbsp; 117418 | &nbsp;&nbsp;&nbsp; 343690 | &nbsp;&nbsp;&nbsp; 461108 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PIMCO Global Bond Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest Rate Swaps — (continued)** | **Interest Rate Swaps — (continued)** | **Interest Rate Swaps — (continued)** | **Interest Rate Swaps — (continued)** | **Interest Rate Swaps — (continued)** | **Interest Rate Swaps — (continued)** | **Interest Rate Swaps — (continued)** | **Interest Rate Swaps — (continued)** | **Interest Rate Swaps — (continued)** | **Interest Rate Swaps — (continued)** | **Interest Rate Swaps — (continued)** |
| **Counterparty (OTC)/<br> Centrally cleared** | **Notional<br> amount** | &nbsp;&nbsp;&nbsp;**Currency** | **Payments<br> made** | **Payments<br> received** | **Fixed<br> payment<br> frequency** | **Floating<br> payment<br> frequency** | **Maturity<br> date** | **Upfront<br> payment paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value** |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300000 | &nbsp;&nbsp;&nbsp;USD | 12-Month SOFR | Fixed 3.250% | Annual | Annual | Jun 2027 | $(7033) | $(4670) | $(11703) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4900000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.250% | 12-Month SOFR | Annual | Annual | Jun 2035 | &nbsp;&nbsp;&nbsp; 195638 | &nbsp;&nbsp;&nbsp; 36830 | &nbsp;&nbsp;&nbsp; 232468 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;180000000 | &nbsp;&nbsp;&nbsp;JPY | 12-Month TONA | Fixed 1.000 | Annual | Annual | Jun 2030 | &nbsp;&nbsp;&nbsp; 11949 | &nbsp;&nbsp;&nbsp; (12698) | &nbsp;&nbsp;&nbsp;&nbsp; (749) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;120000000 | &nbsp;&nbsp;&nbsp;JPY | 12-Month TONA | Fixed 1.250 | Annual | Annual | Jun 2035 | &nbsp;&nbsp;&nbsp; 14091 | &nbsp;&nbsp;&nbsp; (20854) | &nbsp;&nbsp;&nbsp;&nbsp; (6763) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;40000000 | &nbsp;&nbsp;&nbsp;JPY | Fixed 2.000 | 12-Month TONA | Annual | Annual | Jun 2055 | &nbsp;&nbsp;&nbsp;&nbsp; (2166) | &nbsp;&nbsp;&nbsp; 25439 | &nbsp;&nbsp;&nbsp; 23273 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.930 | 12-Month SOFR | Annual | Annual | Jun 2055 | &nbsp;&nbsp;&nbsp; 2173 | &nbsp;&nbsp;&nbsp; 9699 | &nbsp;&nbsp;&nbsp; 11872 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.960 | 12-Month SOFR | Annual | Annual | Jun 2055 | &nbsp;&nbsp;&nbsp;&nbsp; (3238) | &nbsp;&nbsp;&nbsp; 14560 | &nbsp;&nbsp;&nbsp; 11322 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648000 | &nbsp;&nbsp;&nbsp;USD | Fixed 4.005 | 12-Month SOFR | Annual | Annual | Sep 2055 | &nbsp;&nbsp;&nbsp;&nbsp; (8406) | &nbsp;&nbsp;&nbsp; 12187 | &nbsp;&nbsp;&nbsp; 3781 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.750 | 12-Month SOFR | Annual | Annual | Sep 2035 | &nbsp;&nbsp;&nbsp;&nbsp; (650) | &nbsp;&nbsp;&nbsp; 2568 | &nbsp;&nbsp;&nbsp; 1918 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;108900000 | &nbsp;&nbsp;&nbsp;KRW | 3-Month KSDA | Fixed 2.500 | Quarterly | Quarterly | Sep 2035 | &nbsp;&nbsp;&nbsp;&nbsp; (766) | &nbsp;&nbsp;&nbsp; (250) | &nbsp;&nbsp;&nbsp;&nbsp; (1016) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.620 | 12-Month SOFR | Annual | Annual | Nov 2029 | &nbsp;&nbsp;&nbsp; 2995 | &nbsp;&nbsp;&nbsp; (6262) | &nbsp;&nbsp;&nbsp;&nbsp; (3267) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7835000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.750 | 12-Month SOFR | Annual | Annual | May 2032 | &nbsp;&nbsp;&nbsp;&nbsp; (7822) | &nbsp;&nbsp;&nbsp; (36061) | &nbsp;&nbsp;&nbsp;&nbsp; (43883) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400000 | &nbsp;&nbsp;&nbsp;USD | Fixed 4.100 | 12-Month SOFR | Annual | Annual | Nov 2052 | &nbsp;&nbsp;&nbsp;&nbsp; (41480) | &nbsp;&nbsp;&nbsp; 15418 | &nbsp;&nbsp;&nbsp;&nbsp; (26062) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;19100000 | &nbsp;&nbsp;&nbsp;GBP | 12-Month SONIA | Fixed 3.750 | Annual | Annual | Mar 2031 | &nbsp;&nbsp;&nbsp; 55926 | &nbsp;&nbsp;&nbsp; (53757) | &nbsp;&nbsp;&nbsp; 2169 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;80000000 | &nbsp;&nbsp;&nbsp;JPY | 12-Month TONA | Fixed 1.000 | Annual | Annual | Sep 2030 | &nbsp;&nbsp;&nbsp; 2113 | &nbsp;&nbsp;&nbsp; (3238) | &nbsp;&nbsp;&nbsp;&nbsp; (1125) |
| Centrally Cleared | 1090000000 | &nbsp;&nbsp;&nbsp;JPY | 12-Month TONA | Fixed 1.250 | Annual | Annual | Sep 2035 | &nbsp;&nbsp;&nbsp;&nbsp; (76500) | &nbsp;&nbsp;&nbsp; (7464) | &nbsp;&nbsp;&nbsp;&nbsp; (83964) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.750 | 12-Month SOFR | Annual | Annual | Sep 2027 | &nbsp;&nbsp;&nbsp;&nbsp; (10352) | &nbsp;&nbsp;&nbsp; 6945 | &nbsp;&nbsp;&nbsp;&nbsp; (3407) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6100000 | &nbsp;&nbsp;&nbsp;USD | 12-Month SOFR | Fixed 3.750 | Annual | Annual | Sep 2030 | &nbsp;&nbsp;&nbsp; 57103 | &nbsp;&nbsp;&nbsp; (7078) | &nbsp;&nbsp;&nbsp; 50025 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;USD | Fixed 3.500 | 12-Month SOFR | Annual | Annual | Sep 2055 | &nbsp;&nbsp;&nbsp; 108637 | &nbsp;&nbsp;&nbsp; 3122 | &nbsp;&nbsp;&nbsp; 111759 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;AUD | 6-Month BBSW | Fixed 4.500 | Semiannual | Semiannual | Sep 2035 | &nbsp;&nbsp;&nbsp; 9899 | &nbsp;&nbsp;&nbsp; (239) | &nbsp;&nbsp;&nbsp; 9660 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;AUD | 6-Month BBSW | Fixed 4.500 | Semiannual | Semiannual | Jun 2035 | &nbsp;&nbsp;&nbsp; 11967 | &nbsp;&nbsp;&nbsp; (3428) | &nbsp;&nbsp;&nbsp; 8539 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;58800000 | &nbsp;&nbsp;&nbsp;AUD | 6-Month BBSW | Fixed 3.500 | Semiannual | Semiannual | Mar 2031 | &nbsp;&nbsp;&nbsp;&nbsp; (405184) | &nbsp;&nbsp;&nbsp;(132386) | &nbsp;&nbsp;&nbsp;&nbsp; (537570) |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp;&nbsp;GBP | Fixed 4.000 | 12-Month SONIA | Annual | Annual | Mar 2036 | &nbsp;&nbsp;&nbsp; 8662 | &nbsp;&nbsp;&nbsp; 5268 | &nbsp;&nbsp;&nbsp; 13930 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3930000 | &nbsp;&nbsp;&nbsp;SGD | Fixed 2.000 | 6-Month SORA | Semiannual | Semiannual | Sep 2035 | &nbsp;&nbsp;&nbsp; 4662 | &nbsp;&nbsp;&nbsp; (1716) | &nbsp;&nbsp;&nbsp; 2946 |
| Centrally Cleared | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;AUD | 6-Month BBSW | Fixed 4.250 | Semiannual | Semiannual | Sep 2035 | &nbsp;&nbsp;&nbsp; 1531 | &nbsp;&nbsp;&nbsp; (135) | &nbsp;&nbsp;&nbsp; 1396 |
|  |  |  |  |  |  |  |  | $2633220 | $(1229) | $2631991 |
|  |  |  |  |  |  |  |  | $2619131 | $(17704) | $2601427 |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit Default Swaps - Buyer(1)** | **Credit Default Swaps - Buyer(1)** | **Credit Default Swaps - Buyer(1)** | **Credit Default Swaps - Buyer(1)** | **Credit Default Swaps - Buyer(1)** | **Credit Default Swaps - Buyer(1)** | **Credit Default Swaps - Buyer(1)** | **Credit Default Swaps - Buyer(1)** | **Credit Default Swaps - Buyer(1)** | **Credit Default Swaps - Buyer(1)** | **Credit Default Swaps - Buyer(1)** |
| **Counterparty (OTC)/<br> Centrally cleared** | &nbsp;&nbsp;**Reference<br> obligation** | &nbsp;&nbsp;**Notional<br> amount(2)** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**USD<br> notional<br> amount(2)** | &nbsp;&nbsp;**Pay<br> fixed<br> rate** | &nbsp;&nbsp;**Fixed<br> payment<br> frequency** | &nbsp;&nbsp;**Maturity<br> date** | &nbsp;&nbsp;**Upfront<br> payment paid<br> (received)** | &nbsp;&nbsp;**Unrealized<br> appreciation<br> (depreciation)** | &nbsp;&nbsp;**Value(3)** |
| Centrally Cleared | &nbsp;&nbsp;CDX Investment Grade Index Series 43 | &nbsp;&nbsp;$6600000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;$6600000 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Dec 2034 | &nbsp;&nbsp;$(33615) | &nbsp;&nbsp;$(28843) | &nbsp;&nbsp;$(62458) |
| Centrally Cleared | &nbsp;&nbsp;iTraxx Europe Series 43 | &nbsp;&nbsp;&nbsp;&nbsp;19130000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;19130000 | &nbsp;&nbsp;1.000 | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;(454595) | &nbsp;&nbsp;&nbsp;&nbsp; (11710) | &nbsp;&nbsp;&nbsp;&nbsp;(466305) |
| Centrally Cleared | &nbsp;&nbsp;CDX Investment Grade Index Series 44 | &nbsp;&nbsp;&nbsp;&nbsp;17800000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;17800000 | &nbsp;&nbsp;1.000 | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;Jun 2035 | &nbsp;&nbsp;&nbsp;&nbsp; (24536) | &nbsp;&nbsp;&nbsp;&nbsp; (98676) | &nbsp;&nbsp;&nbsp;&nbsp;(123212) |
|  |  |  |  | &nbsp;&nbsp;$43530000 |  |  |  | &nbsp;&nbsp;$(512746) | &nbsp;&nbsp;$(139229) | &nbsp;&nbsp;$(651975) |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit Default Swaps - Seller(4)** | **Credit Default Swaps - Seller(4)** | **Credit Default Swaps - Seller(4)** | **Credit Default Swaps - Seller(4)** | **Credit Default Swaps - Seller(4)** | **Credit Default Swaps - Seller(4)** | **Credit Default Swaps - Seller(4)** | **Credit Default Swaps - Seller(4)** | **Credit Default Swaps - Seller(4)** | **Credit Default Swaps - Seller(4)** | **Credit Default Swaps - Seller(4)** | **Credit Default Swaps - Seller(4)** |
| **Counterparty (OTC)/<br> Centrally cleared** | **Reference<br> obligation** | &nbsp;&nbsp;**Implied<br> credit<br> spread(5)** | **Notional<br> amount(2)** | **Currency** | **USD<br> notional<br> amount(2)** | **Received<br> fixed<br> rate** | **Fixed<br> payment<br> frequency** | **Maturity<br> date** | **Upfront<br> payment paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value(3)** |
| Centrally Cleared | CDX Investment Grade Index Series 43 | &nbsp;&nbsp;0.4453% | &nbsp;&nbsp;&nbsp;&nbsp;7100000 | USD | &nbsp;&nbsp;&nbsp; 7100000 | 1.000% | Quarterly | Dec 2029 | $135415 | $20443 | $155858 |
| Centrally Cleared | Ford Motor Co. | &nbsp;&nbsp;1.6532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | USD | &nbsp;&nbsp;&nbsp; 700000 | 5.000 | Quarterly | Dec 2029 | &nbsp;&nbsp;&nbsp;&nbsp; 94688 | &nbsp;&nbsp;&nbsp;&nbsp; (3204) | &nbsp;&nbsp;&nbsp;&nbsp; 91484 |
| Centrally Cleared | CDX Investment Grade Index Series 44 | &nbsp;&nbsp;0.5121 | 212000000 | USD | &nbsp;&nbsp;&nbsp;212000000 | 1.000 | Quarterly | Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;3684902 | &nbsp;&nbsp;&nbsp;&nbsp;899238 | &nbsp;&nbsp;&nbsp;&nbsp;4584140 |
|  |  |  |  |  | 219800000 |  |  |  | $3915005 | $916477 | $4831482 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PIMCO Global Bond Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Currency Swaps** | **Currency Swaps** | **Currency Swaps** | **Currency Swaps** | **Currency Swaps** | **Currency Swaps** | **Currency Swaps** | **Currency Swaps** | **Currency Swaps** | **Currency Swaps** | **Currency Swaps** |  |
| **Counterparty (OTC)/<br> Centrally cleared** | **Currency** | &nbsp;&nbsp;&nbsp;**Notional Amount<br> Received** | **Currency** | **Notional Amount<br> Delivered** | **Payments<br> Received** | **Payments<br> Made** | **Payment<br> Frequency** | **Maturity<br> Date** | **Upfront<br> payment paid<br> (received)** | **Unrealized<br> Appreciation<br> (Depreciation)** | **Value** |
| Goldman Sachs Bank USA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;900000000 | USD | 5896516 | 3-Month SOFR | 3-Month TONAR | Quarterly | Sep 2030 | $— | $14126 | $14126 |
| Goldman Sachs International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;5158600000 | USD | 34896366 | 3-Month SOFR | 3-Month TONAR | Quarterly | Dec 2026 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;21491 | &nbsp;&nbsp;&nbsp;21491 |
|  |  |  |  |  |  |  |  |  | $— | $35617 | $35617 |

---

(1) If the Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, thePortfolio will either (i) receive from the seller
of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of
cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

(2) The maximum potential amount the Portfolio could be required to make as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined
under the terms of that particular swap agreement.

(3) The quoted market prices and resulting values for credit default swap agreements on asset-backed securities and credit indices serve as an indicator of the current status of the
payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement have been closed/sold as of the period end.
Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or
other credit event occurring as defined under the terms of the agreement.

(4) If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of
protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the
swap less the recovery value of the referenced obligation.

(5) Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues, credit
indices or sovereign issues of an emerging country as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit
derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit
spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. A credit
spread identified as "Defaulted" indicates a credit event has occurred for the referenced entity or obligation.

---

| |
|:---|
| BBSW—Bank Bill Swap Reference Rate |
| CORRA—Canadian Overnight Repo Rate Average |
| ESTR—Euro Short-Term Rate |
| EURIBOR—Euro Interbank Offered Rate |
| KLIBO—Kuala Lumpur Interbank Offered Rate |
| KSDA—Korean Securities Dealers Association |
| NZDBB—New Zealand Bank Dollar Bill |
| SOFR—Secured Overnight Financing Rate |
| SONIA—Sterling Overnight Index Average |
| SORA—Singapore Overnight Rate Average |
| TONA—Tokyo Overnight Average Rate |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Written Options on Futures** | **Written Options on Futures** | **Written Options on Futures** | **Written Options on Futures** | **Written Options on Futures** | **Written Options on Futures** | **Written Options on Futures** | **Written Options on Futures** | **Written Options on Futures** |
| **Counterparty (OTC)/Exchange-Traded** | &nbsp;&nbsp;**Name of Issuer** | &nbsp;&nbsp;**Strike<br> price** | &nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;**Number of<br> contracts** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Premium** | &nbsp;&nbsp;**Value** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** |
| Calls |  |  |  |  |  |  |  |  |
| Exchange- Traded | &nbsp;&nbsp;Call option on 10 Year U.S. Treasury Note Futures | &nbsp;&nbsp;112.00 | &nbsp;&nbsp;8/22/2025 | &nbsp;&nbsp;22 | &nbsp;&nbsp;$22000 | &nbsp;&nbsp;$6521 | &nbsp;&nbsp;$4641 | &nbsp;&nbsp;$1880 |
| Exchange- Traded | &nbsp;&nbsp;Call option on 10 Year U.S. Treasury Note Futures | &nbsp;&nbsp;112.50 | &nbsp;&nbsp;8/22/2025 | &nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp; 4494 | &nbsp;&nbsp;&nbsp; 1727 | &nbsp;&nbsp;&nbsp;2767 |
|  |  |  |  |  |  | &nbsp;&nbsp;$11015 | &nbsp;&nbsp;$6368 | &nbsp;&nbsp;$4647 |
| Puts |  |  |  |  |  |  |  |  |
| Exchange- Traded | &nbsp;&nbsp;Put option on 10 Year U.S. Treasury Note Futures | &nbsp;&nbsp;109.50 | &nbsp;&nbsp;8/22/2025 | &nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp; 7855 | &nbsp;&nbsp;&nbsp; 4648 | &nbsp;&nbsp;&nbsp;3207 |
|  |  |  |  |  |  | &nbsp;&nbsp;$18870 | &nbsp;&nbsp;$11016 | &nbsp;&nbsp;$7854 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Written Options on Interest Rate Swaps** | **Written Options on Interest Rate Swaps** | **Written Options on Interest Rate Swaps** | **Written Options on Interest Rate Swaps** | **Written Options on Interest Rate Swaps** | **Written Options on Interest Rate Swaps** | **Written Options on Interest Rate Swaps** | **Written Options on Interest Rate Swaps** |
| **Counterparty (OTC)/Exchange-Traded** | &nbsp;&nbsp;**Issue** | &nbsp;&nbsp;**Strike<br> price** | &nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Premium** | &nbsp;&nbsp;**Value** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** |
| Calls |  |  |  |  |  |  |  |
| Bank of America, N.A. | &nbsp;&nbsp;Call option to enter into an interest rate swap for the right to receive a fixed rate of 3.69% versus USD-SOFR maturing 08/15/2025 | &nbsp;&nbsp;3.69 | &nbsp;&nbsp;8/15/2025 | &nbsp;&nbsp;$700000 | &nbsp;&nbsp;$2153 | &nbsp;&nbsp;$1095 | &nbsp;&nbsp;$1058 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PIMCO Global Bond Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Written Options on Interest Rate Swaps — (continued)** | **Written Options on Interest Rate Swaps — (continued)** | **Written Options on Interest Rate Swaps — (continued)** | **Written Options on Interest Rate Swaps — (continued)** | **Written Options on Interest Rate Swaps — (continued)** | **Written Options on Interest Rate Swaps — (continued)** | **Written Options on Interest Rate Swaps — (continued)** | **Written Options on Interest Rate Swaps — (continued)** |
| **Counterparty (OTC)/Exchange-Traded** | &nbsp;&nbsp;**Issue** | &nbsp;&nbsp;**Strike<br> price** | &nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Premium** | &nbsp;&nbsp;**Value** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** |
| Goldman Sachs Bank USA | &nbsp;&nbsp;Call option to enter into an interest rate swap for the right to receive a fixed rate of 3.67% versus USD-SOFR maturing 08/25/2025 | &nbsp;&nbsp;3.67 | &nbsp;&nbsp;8/25/2025 | &nbsp;&nbsp;$1000000 | &nbsp;&nbsp;$3032 | &nbsp;&nbsp;$2112 | &nbsp;&nbsp;$920 |
| Goldman Sachs Bank USA | &nbsp;&nbsp;Call option to enter into an interest rate swap for the right to receive a fixed rate of 3.65% versus USD-SOFR maturing 08/29/2025 | &nbsp;&nbsp;3.65 | &nbsp;&nbsp;8/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;1925 | &nbsp;&nbsp;&nbsp;1572 | &nbsp;&nbsp;&nbsp; 353 |
|  |  |  |  |  | &nbsp;&nbsp;$7110 | &nbsp;&nbsp;$4779 | &nbsp;&nbsp;$2331 |
| Puts |  |  |  |  |  |  |  |
| Goldman Sachs Bank USA | &nbsp;&nbsp;Put option to enter into an interest rate swap for the right to pay a fixed rate of 4.33% versus USD_SOFR maturing 09/25/2025 | &nbsp;&nbsp;4.33 | &nbsp;&nbsp;9/25/2025 | &nbsp;&nbsp;&nbsp;6200000 | &nbsp;&nbsp;&nbsp;68200 | &nbsp;&nbsp;&nbsp; 705 | &nbsp;&nbsp;&nbsp;67495 |
| Bank of America, N.A. | &nbsp;&nbsp;Put option to enter into an interest rate swap for the right to pay a fixed rate of 4.04% versus USD-SOFR maturing 08/15/2025 | &nbsp;&nbsp;4.04 | &nbsp;&nbsp;8/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;2152 | &nbsp;&nbsp;&nbsp; 523 | &nbsp;&nbsp;&nbsp; 1629 |
| Goldman Sachs Bank USA | &nbsp;&nbsp;Put option to enter into an interest rate swap for the right to pay a fixed rate of 4.02% versus USD-SOFR maturing 08/25/2025 | &nbsp;&nbsp;4.02 | &nbsp;&nbsp;8/25/2025 | &nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;3033 | &nbsp;&nbsp;&nbsp;1576 | &nbsp;&nbsp;&nbsp; 1457 |
| Goldman Sachs Bank USA | &nbsp;&nbsp;Put option to enter into an interest rate swap for the right to pay a fixed rate of 4.00% versus USD-SOFR maturing 08/29/2025 | &nbsp;&nbsp;4.00 | &nbsp;&nbsp;8/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;1925 | &nbsp;&nbsp;&nbsp;1692 | &nbsp;&nbsp;&nbsp; 233 |
|  |  |  |  |  | &nbsp;&nbsp;$75310 | &nbsp;&nbsp;$4496 | &nbsp;&nbsp;$70814 |
|  |  |  |  |  | &nbsp;&nbsp;$82420 | &nbsp;&nbsp;$9275 | &nbsp;&nbsp;$73145 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Written Options on Foreign Currency** | **Written Options on Foreign Currency** | **Written Options on Foreign Currency** | **Written Options on Foreign Currency** | **Written Options on Foreign Currency** | **Written Options on Foreign Currency** | **Written Options on Foreign Currency** | **Written Options on Foreign Currency** | **Written Options on Foreign Currency** |
| **Description** | &nbsp;&nbsp;**Counterparty (OTC)/Exchange-Traded** | &nbsp;&nbsp;**Currency** | &nbsp;&nbsp;**Strike<br> price** | &nbsp;&nbsp;**Expiration<br> date** | &nbsp;&nbsp;**Notional<br> amount** | &nbsp;&nbsp;**Premium** | &nbsp;&nbsp;**Value** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** |
| Calls |  |  |  |  |  |  |  |  |
| USD vs. TWD | &nbsp;&nbsp;Bank of America, N.A. | &nbsp;&nbsp;USD | &nbsp;&nbsp;29.65 | &nbsp;&nbsp;8/27/2025 | &nbsp;&nbsp;$1057000 | &nbsp;&nbsp;$8400 | &nbsp;&nbsp;$13728 | &nbsp;&nbsp;$(5328) |
| Puts |  |  |  |  |  |  |  |  |
| USD vs. TWD | &nbsp;&nbsp;Bank of America, N.A. | &nbsp;&nbsp;USD | &nbsp;&nbsp;28.90 | &nbsp;&nbsp;8/27/2025 | &nbsp;&nbsp;&nbsp;1057000 | &nbsp;&nbsp;&nbsp; 4759 | &nbsp;&nbsp;&nbsp; 1779 | &nbsp;&nbsp;&nbsp; 2980 |
|  |  |  |  |  |  | &nbsp;&nbsp;$13159 | &nbsp;&nbsp;$15507 | &nbsp;&nbsp;$(2348) |

---

#### Futures Contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number<br> of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Expiration<br> Month** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Basis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Value\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation** |
| 31 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;Australian 3 Year Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$2134064 | &nbsp;&nbsp;&nbsp;&nbsp;$2137883 | &nbsp;&nbsp;&nbsp;&nbsp;$3819 |
| 109 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;Euro-BTP | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15012764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15021426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8662 |
| 20 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;Long Gilt | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2425024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2434222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9198 |
| 141 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury 10 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15508574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15659809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151235 |
| 225 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury 5 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24226982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24338672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111690 |
| 139 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra 10 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15544022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15717859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173837 |
| &nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;Canada 10 Year Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 610039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 608863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1176 |
| 117 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;Euro-BOBL | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15777959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15657930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120029 |
| 171 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;Euro-BUND | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25584031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25310321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 273710 |
| 196 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;Euro-OAT | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27819590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27576903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 242687 |
| 238 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;Euro-Schatz | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29145170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29075366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69804 |
| 74 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;Japan 10 Year Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67748276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67733554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14722 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$1180569 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PIMCO Global Bond Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

#### Futures Contracts — (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Numberof<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**ExpirationMonth** | &nbsp;&nbsp;&nbsp;&nbsp;**NotionalBasis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**NotionalValue\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
| &nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;Canada 5 Year Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$490928 | &nbsp;&nbsp;&nbsp;&nbsp;$490185 | &nbsp;&nbsp;&nbsp;&nbsp;$(743) |
| &nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;Euro Buxl 30 Year Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 552299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 535816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (16483) |
| 245 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;Australian 10 Year Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17758541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17915647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(157106) |
| 27 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;U.S. Treasury Long Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2981180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3083063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(101883) |
| 38 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4358291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4457875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (99584) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$(375799) |
|  |  | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) |  | &nbsp;&nbsp;&nbsp;&nbsp;$804770 |

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** |
| **Counterparty** | &nbsp;&nbsp;**Contract to<br> Deliver** | &nbsp;&nbsp;**Contract to<br> Deliver** | &nbsp;&nbsp;**In<br> Exchange For** | &nbsp;&nbsp;**In<br> Exchange For** | &nbsp;&nbsp;**Delivery<br> Date** | &nbsp;&nbsp;**Unrealized<br> Appreciation** | &nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
| Bank of America, N.A. | &nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1962000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1284895 | &nbsp;&nbsp;08/05/2025 | &nbsp;&nbsp;$24016 | &nbsp;&nbsp;$— |
|  | &nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231670 | &nbsp;&nbsp;09/02/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 841 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2929006 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522841 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (238) |
|  | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255177 | &nbsp;&nbsp;08/05/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 3974 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10415861 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7544375 | &nbsp;&nbsp;09/02/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 15401 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281663 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39449 | &nbsp;&nbsp;08/05/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 267 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281754 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39448 | &nbsp;&nbsp;09/05/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 81 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5308000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6235237 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 177750 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59008729 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146007 | &nbsp;&nbsp;08/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1284) |
|  | &nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237652 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70800 | &nbsp;&nbsp;10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 787 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180900000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1229181 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 29578 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;1135472951 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7653205 | &nbsp;&nbsp;09/02/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 99247 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3479000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181929 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1617) |
|  | &nbsp;&nbsp;NOK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1150707 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111585 | &nbsp;&nbsp;09/02/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 265 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18040260 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4867285 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (147773) |
|  | &nbsp;&nbsp;SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493267 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 9594 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10031146 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7872154 | &nbsp;&nbsp;08/05/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 145802 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5483927 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4293005 | &nbsp;&nbsp;09/02/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 59919 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37709099 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1220000 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (41398) |
|  | &nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10443000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354000 | &nbsp;&nbsp;08/29/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 4413 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321411 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490000 | &nbsp;&nbsp;08/05/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (6513) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526000 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2929006 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2921) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7544375 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10430213 | &nbsp;&nbsp;08/05/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (15349) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2135608 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1698000 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (45119) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39448 | &nbsp;&nbsp;CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282050 | &nbsp;&nbsp;08/05/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (212) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3940545 | &nbsp;&nbsp;DKK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24840000 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (142816) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2137004 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1816000 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (64586) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366104 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269000 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (10850) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231000 | &nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp;3766801500 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2795) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228000 | &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19561260 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (4684) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3779329 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558288422 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (77151) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5189082 | &nbsp;&nbsp;KRW | &nbsp;&nbsp;&nbsp;&nbsp;7107643007 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (90800) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888200 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16879000 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 2311 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325385 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300000 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (6196) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233329 | &nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845887 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 1822 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2583424 | &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9320996 | &nbsp;&nbsp;08/11/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (96484) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;979063 | &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3585000 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (22702) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329198 | &nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3201442 | &nbsp;&nbsp;09/02/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1551) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;643689 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826000 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (7521) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4293005 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5495905 | &nbsp;&nbsp;08/05/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (59860) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1478000 | &nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45302368 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 37399 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47363233 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2650268 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 53079 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;666546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(850420) |
| Goldman Sachs Bank USA | &nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11875228 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7793326 | &nbsp;&nbsp;08/05/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 161710 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13347228 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8588474 | &nbsp;&nbsp;09/02/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 6484 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5694345 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024404 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 7475 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37300000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6095095 | &nbsp;&nbsp;10/02/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (469365) |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PIMCO Global Bond Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** |
| **Counterparty** | &nbsp;&nbsp;**Contract to<br> Deliver** | &nbsp;&nbsp;**Contract to<br> Deliver** | &nbsp;&nbsp;**In<br> Exchange For** | &nbsp;&nbsp;**In<br> Exchange For** | &nbsp;&nbsp;**Delivery<br> Date** | &nbsp;&nbsp;**Unrealized<br> Appreciation** | &nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
|  | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10098696 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7422374 | &nbsp;&nbsp;08/05/2025 | &nbsp;&nbsp;$132653 | &nbsp;&nbsp;$— |
|  | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680726 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 22062 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;DKK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24805000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3541801 | &nbsp;&nbsp;04/01/2026 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (317914) |
|  | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668678 | &nbsp;&nbsp;RON | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3396662 | &nbsp;&nbsp;08/11/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (269) |
|  | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1092904 | &nbsp;&nbsp;RON | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5577562 | &nbsp;&nbsp;09/11/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 987 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46103934 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54185440 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp;1571656 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49595934 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56760314 | &nbsp;&nbsp;09/02/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 52551 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2122000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2907494 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 105075 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1853000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2445797 | &nbsp;&nbsp;09/02/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2056) |
|  | &nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185447152 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11393 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 158 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;1023301093 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7119728 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 333912 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;KRW | &nbsp;&nbsp;13376081737 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9761160 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 166553 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3260000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171708 | &nbsp;&nbsp;12/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 1364 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2252075 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534475 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 6187 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;NOK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4450000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444386 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 13965 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1244642 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338494 | &nbsp;&nbsp;12/12/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (6632) |
|  | &nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1655000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173949 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 4886 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3183712 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2503637 | &nbsp;&nbsp;08/05/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 51427 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232430312 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7087332 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (687638) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020841 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5694345 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (3912) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991628 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5595502 | &nbsp;&nbsp;09/03/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (213) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5823370 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32836236 | &nbsp;&nbsp;10/02/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (44492) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;EGP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11020000 | &nbsp;&nbsp;08/25/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 23849 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172144 | &nbsp;&nbsp;HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58936000 | &nbsp;&nbsp;08/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (4146) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4317994 | &nbsp;&nbsp;IDR | &nbsp;&nbsp;70206382683 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (64673) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6562946 | &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566001619 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (101326) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;KZT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57502500 | &nbsp;&nbsp;09/08/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (4741) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310000 | &nbsp;&nbsp;KZT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160657500 | &nbsp;&nbsp;09/11/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (16147) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770109 | &nbsp;&nbsp;MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14909000 | &nbsp;&nbsp;12/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 8928 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309000 | &nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1105950 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1554) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511000 | &nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4856441 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (14901) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777090 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;996000 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (9992) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1401000 | &nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42138873 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 8577 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;2680459 | &nbsp;&nbsp;&nbsp;&nbsp;(1749971) |
| Unrealized Appreciation (Depreciation) |  |  |  |  |  | &nbsp;&nbsp;$3347005 | &nbsp;&nbsp;$(2600391) |

---

---

| |
|:---|
| AUD—Australian Dollar |
| BRL—Brazilian Real |
| CAD—Canadian Dollar |
| CHF—Swiss Franc |
| CNY—Chinese Yuan |
| DKK—Danish Krone |
| EGP—Egyptian Pound |
| EUR—Euro Currency |
| GBP—British Pound |

---

---

| |
|:---|
| HUF—Hungarian Forint |
| IDR—Indonesian Rupiah |
| ILS—Israeli New Sheqel |
| INR—Indian Rupee |
| JPY—Japanese Yen |
| KRW—South Korean Won |
| KZT—Kazakhstani Tenge |
| MXN—Mexican Peso |
| MYR—Malaysian Ringgit |

---

---

| |
|:---|
| NOK—Norwegian Krone |
| PEN—Peruvian Sol |
| PLN—Polish Zloty |
| RON—Romanian Leu |
| SEK—Swedish Krona |
| SGD—Singapore Dollar |
| TWD—New Taiwan Dollar |
| USD—United States Dollar |
| ZAR—South African Rand |

---

---

| | |
|:---|:---|
| **Industry Allocation\*** |  |
| U.S. Government & Agency Obligations | &nbsp;&nbsp;&nbsp;&nbsp;78.8% |
| Foreign Government Obligations | &nbsp;&nbsp;&nbsp;&nbsp;33.6 |
| Collateralized Mortgage Obligations | &nbsp;&nbsp;&nbsp;&nbsp;12.6 |
| Banks | &nbsp;&nbsp;&nbsp;&nbsp;10.5 |
| Other Asset Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;6.7 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;5.6 |
| Auto Loan Receivables | &nbsp;&nbsp;&nbsp;&nbsp;1.3 |
| Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;1.1 |
| Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;0.6 |
| Credit Card Receivables | &nbsp;&nbsp;&nbsp;&nbsp;0.5 |
| Diversified Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;0.4 |
| Healthcare-Products | &nbsp;&nbsp;&nbsp;&nbsp;0.4 |
| Semiconductors | &nbsp;&nbsp;&nbsp;&nbsp;0.4 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PIMCO Global Bond Opportunities Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | |
|:---|:---|
| **Industry Allocation\*(continued)** |  |
| Insurance | &nbsp;&nbsp;&nbsp;&nbsp;0.3% |
| Agriculture | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Savings & Loans | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Internet | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Lodging | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Telecommunications | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Mining | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Commercial and Residential | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Pipelines | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Real Estate | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Commercial Services | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Electric | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Municipal Securities | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Software | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
|  | &nbsp;&nbsp;154.9% |

---

\* Calculated as a percentage of net assets

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp;$— | &nbsp;&nbsp;$43392657 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$43392657 |
| Asset Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;24511165 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;24511165 |
| Collateralized Mortgage Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;35301000 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;35301000 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;220769040 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;220769040 |
| Foreign Government Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;94073867 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;94073867 |
| Municipal Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206384 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206384 |
| Purchased Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84788 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84788 |
| Short-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unaffiliated Investment Companies | &nbsp;&nbsp;&nbsp;&nbsp;1957970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1957970 |
| &nbsp;&nbsp;&nbsp;Other Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;13708258 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;13708258 |
| **Total Investments at Value** | &nbsp;&nbsp;$1957970 | &nbsp;&nbsp;$432047159 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$434005129 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Swaps | &nbsp;&nbsp;$— | &nbsp;&nbsp;$3520264 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$3520264 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;1180569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1180569 |
| Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3347005 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3347005 |
| Written Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76125 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83979 |
| **Total Other Financial Instruments** | &nbsp;&nbsp;$1188423 | &nbsp;&nbsp;$6943394 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$8131817 |
| **LIABILITIES:** |  |  |  |  |
| <u>Forward Sales Contracts:</u> |  |  |  |  |
| U.S. Government Agencies | &nbsp;&nbsp;$— | &nbsp;&nbsp;$30626184 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$30626184 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Swaps | &nbsp;&nbsp;$— | &nbsp;&nbsp;$2725103 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$2725103 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375799 |
| Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600391 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600391 |
| Written Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5328 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5328 |
| **Total Other Financial Instruments** | &nbsp;&nbsp;$375799 | &nbsp;&nbsp;$5330822 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$5706621 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | &nbsp;&nbsp;Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PIMCO RAE International Value Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 99.1%** | **COMMON STOCKS — 99.1%** | **COMMON STOCKS — 99.1%** |
| **Australia — 2.8%** | **Australia — 2.8%** | **Australia — 2.8%** |
| &nbsp;&nbsp;&nbsp;AGL Energy, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;666208 | &nbsp;&nbsp;$4161507 |
| &nbsp;&nbsp;&nbsp;Aurizon Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;404394 | &nbsp;&nbsp;&nbsp;&nbsp; 842024 |
| &nbsp;&nbsp;&nbsp;BlueScope Steel, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29020 | &nbsp;&nbsp;&nbsp;&nbsp; 443303 |
| &nbsp;&nbsp;&nbsp;Brambles, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26712 | &nbsp;&nbsp;&nbsp;&nbsp; 410450 |
| &nbsp;&nbsp;&nbsp;Downer EDI, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;166692 | &nbsp;&nbsp;&nbsp;&nbsp; 740231 |
| &nbsp;&nbsp;&nbsp;JB Hi-Fi, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18630 | &nbsp;&nbsp;&nbsp;&nbsp; 1337336 |
| &nbsp;&nbsp;&nbsp;Rio Tinto, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25308 | &nbsp;&nbsp;&nbsp;&nbsp; 1816710 |
| &nbsp;&nbsp;&nbsp;Scentre Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96415 | &nbsp;&nbsp;&nbsp;&nbsp; 232354 |
| &nbsp;&nbsp;&nbsp;Sims, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25815 | &nbsp;&nbsp;&nbsp;&nbsp; 252832 |
| &nbsp;&nbsp;&nbsp;Suncorp Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85005 | &nbsp;&nbsp;&nbsp;&nbsp; 1145013 |
| &nbsp;&nbsp;&nbsp;Telstra Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;131821 | &nbsp;&nbsp;&nbsp;&nbsp; 421032 |
| &nbsp;&nbsp;&nbsp;Viva Energy Group, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;110198 | &nbsp;&nbsp;&nbsp;&nbsp; 148719 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11951511 |
| **Austria — 0.8%** | **Austria — 0.8%** | **Austria — 0.8%** |
| &nbsp;&nbsp;&nbsp;OMV AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20233 | &nbsp;&nbsp;&nbsp;&nbsp; 1031656 |
| &nbsp;&nbsp;&nbsp;Raiffeisen Bank International AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14039 | &nbsp;&nbsp;&nbsp;&nbsp; 407582 |
| &nbsp;&nbsp;&nbsp;Strabag SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1437 | &nbsp;&nbsp;&nbsp;&nbsp; 135128 |
| &nbsp;&nbsp;&nbsp;voestalpine AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72659 | &nbsp;&nbsp;&nbsp;&nbsp; 2008284 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3582650 |
| **Belgium — 0.9%** | **Belgium — 0.9%** | **Belgium — 0.9%** |
| &nbsp;&nbsp;&nbsp;Ageas SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33976 | &nbsp;&nbsp;&nbsp;&nbsp; 2316710 |
| &nbsp;&nbsp;&nbsp;Bekaert SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6207 | &nbsp;&nbsp;&nbsp;&nbsp; 256774 |
| &nbsp;&nbsp;&nbsp;Colruyt Group NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6516 | &nbsp;&nbsp;&nbsp;&nbsp; 278704 |
| &nbsp;&nbsp;&nbsp;Proximus SADP | &nbsp;&nbsp;&nbsp;&nbsp;128699 | &nbsp;&nbsp;&nbsp;&nbsp; 1072160 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3924348 |
| **Bermuda — 0.7%** | **Bermuda — 0.7%** | **Bermuda — 0.7%** |
| &nbsp;&nbsp;&nbsp;China Gas Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;204600 | &nbsp;&nbsp;&nbsp;&nbsp; 215026 |
| &nbsp;&nbsp;&nbsp;First Pacific Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;182000 | &nbsp;&nbsp;&nbsp;&nbsp; 143513 |
| &nbsp;&nbsp;&nbsp;Jardine Matheson Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21100 | &nbsp;&nbsp;&nbsp;&nbsp; 1150583 |
| &nbsp;&nbsp;&nbsp;Kerry Properties, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;202000 | &nbsp;&nbsp;&nbsp;&nbsp; 540382 |
| &nbsp;&nbsp;&nbsp;Skyworth Group, Ltd.† | 1184000 | &nbsp;&nbsp;&nbsp;&nbsp; 466059 |
| &nbsp;&nbsp;&nbsp;Yue Yuen Industrial Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;385500 | &nbsp;&nbsp;&nbsp;&nbsp; 605996 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3121559 |
| **Canada — 5.3%** | **Canada — 5.3%** | **Canada — 5.3%** |
| &nbsp;&nbsp;&nbsp;Atco, Ltd., Class I | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28551 | &nbsp;&nbsp;&nbsp;&nbsp; 1033985 |
| &nbsp;&nbsp;&nbsp;Bausch Health Cos., Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37200 | &nbsp;&nbsp;&nbsp;&nbsp; 219345 |
| &nbsp;&nbsp;&nbsp;BRP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp; 333715 |
| &nbsp;&nbsp;&nbsp;Canadian Tire Corp., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2291 | &nbsp;&nbsp;&nbsp;&nbsp; 306844 |
| &nbsp;&nbsp;&nbsp;Canfor Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20800 | &nbsp;&nbsp;&nbsp;&nbsp; 203857 |
| &nbsp;&nbsp;&nbsp;CGI, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp; 289218 |
| &nbsp;&nbsp;&nbsp;Empire Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22100 | &nbsp;&nbsp;&nbsp;&nbsp; 880108 |
| &nbsp;&nbsp;&nbsp;Finning International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13700 | &nbsp;&nbsp;&nbsp;&nbsp; 597002 |
| &nbsp;&nbsp;&nbsp;George Weston, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2951 | &nbsp;&nbsp;&nbsp;&nbsp; 560745 |
| &nbsp;&nbsp;&nbsp;IGM Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14200 | &nbsp;&nbsp;&nbsp;&nbsp; 470190 |
| &nbsp;&nbsp;&nbsp;Imperial Oil, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8700 | &nbsp;&nbsp;&nbsp;&nbsp; 725398 |
| &nbsp;&nbsp;&nbsp;Loblaw Cos., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;&nbsp; 517483 |
| &nbsp;&nbsp;&nbsp;Magna International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;190609 | &nbsp;&nbsp;&nbsp;&nbsp; 7816400 |
| &nbsp;&nbsp;&nbsp;Nutrien, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89000 | &nbsp;&nbsp;&nbsp;&nbsp; 5280521 |
| &nbsp;&nbsp;&nbsp;Onex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10581 | &nbsp;&nbsp;&nbsp;&nbsp; 860775 |
| &nbsp;&nbsp;&nbsp;RioCan Real Estate Investment Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36407 | &nbsp;&nbsp;&nbsp;&nbsp; 463758 |
| &nbsp;&nbsp;&nbsp;West Fraser Timber Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29000 | &nbsp;&nbsp;&nbsp;&nbsp; 2010494 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;22569838 |
| **Denmark — 3.3%** | **Denmark — 3.3%** | **Denmark — 3.3%** |
| &nbsp;&nbsp;&nbsp;AP Moller-Maersk A/S, Series B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6573 | &nbsp;&nbsp;&nbsp;&nbsp; 13059074 |
| &nbsp;&nbsp;&nbsp;D/S Norden A/S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14059 | &nbsp;&nbsp;&nbsp;&nbsp; 489644 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Denmark (continued)** | **Denmark (continued)** | **Denmark (continued)** |
| &nbsp;&nbsp;&nbsp;H Lundbeck A/S | &nbsp;&nbsp;&nbsp;&nbsp;117768 | &nbsp;&nbsp;$620102 |
| &nbsp;&nbsp;&nbsp;H Lundbeck A/S, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6058 | &nbsp;&nbsp;&nbsp;&nbsp; 27276 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14196096 |
| **Finland — 2.3%** | **Finland — 2.3%** | **Finland — 2.3%** |
| &nbsp;&nbsp;&nbsp;Fortum Oyj | &nbsp;&nbsp;&nbsp;&nbsp;106361 | &nbsp;&nbsp;&nbsp;&nbsp; 1952990 |
| &nbsp;&nbsp;&nbsp;Kesko Oyj, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23040 | &nbsp;&nbsp;&nbsp;&nbsp; 501675 |
| &nbsp;&nbsp;&nbsp;Kone Oyj, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16303 | &nbsp;&nbsp;&nbsp;&nbsp; 1003552 |
| &nbsp;&nbsp;&nbsp;Nokia Oyj | &nbsp;&nbsp;&nbsp;&nbsp;629422 | &nbsp;&nbsp;&nbsp;&nbsp; 2577246 |
| &nbsp;&nbsp;&nbsp;Outokumpu Oyj | &nbsp;&nbsp;&nbsp;&nbsp;306311 | &nbsp;&nbsp;&nbsp;&nbsp; 1157749 |
| &nbsp;&nbsp;&nbsp;Sampo Oyj, Class A | &nbsp;&nbsp;&nbsp;&nbsp;234309 | &nbsp;&nbsp;&nbsp;&nbsp; 2517776 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9710988 |
| **France — 3.0%** | **France — 3.0%** | **France — 3.0%** |
| &nbsp;&nbsp;&nbsp;Carrefour SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21844 | &nbsp;&nbsp;&nbsp;&nbsp; 313350 |
| &nbsp;&nbsp;&nbsp;Cie Generale des Etablissements Michelin SCA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35190 | &nbsp;&nbsp;&nbsp;&nbsp; 1255364 |
| &nbsp;&nbsp;&nbsp;Orange SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62015 | &nbsp;&nbsp;&nbsp;&nbsp; 944445 |
| &nbsp;&nbsp;&nbsp;Renault SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17149 | &nbsp;&nbsp;&nbsp;&nbsp; 640149 |
| &nbsp;&nbsp;&nbsp;Sanofi SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65788 | &nbsp;&nbsp;&nbsp;&nbsp; 5919089 |
| &nbsp;&nbsp;&nbsp;TotalEnergies SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20553 | &nbsp;&nbsp;&nbsp;&nbsp; 1220133 |
| &nbsp;&nbsp;&nbsp;Valeo SE | &nbsp;&nbsp;&nbsp;&nbsp;234532 | &nbsp;&nbsp;&nbsp;&nbsp; 2571025 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;12863555 |
| **Germany — 8.9%** | **Germany — 8.9%** | **Germany — 8.9%** |
| &nbsp;&nbsp;&nbsp;BASF SE | &nbsp;&nbsp;&nbsp;&nbsp;199713 | &nbsp;&nbsp;&nbsp;&nbsp; 9836698 |
| &nbsp;&nbsp;&nbsp;Bayer AG | &nbsp;&nbsp;&nbsp;&nbsp;278413 | &nbsp;&nbsp;&nbsp;&nbsp; 8689772 |
| &nbsp;&nbsp;&nbsp;Bayerische Motoren Werke AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25912 | &nbsp;&nbsp;&nbsp;&nbsp; 2480395 |
| &nbsp;&nbsp;&nbsp;BioNTech SE ADR† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15325 | &nbsp;&nbsp;&nbsp;&nbsp; 1647438 |
| &nbsp;&nbsp;&nbsp;Deutsche Post AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7849 | &nbsp;&nbsp;&nbsp;&nbsp; 353364 |
| &nbsp;&nbsp;&nbsp;Fresenius Medical Care AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5749 | &nbsp;&nbsp;&nbsp;&nbsp; 291822 |
| &nbsp;&nbsp;&nbsp;Fresenius SE & Co. KGaA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38329 | &nbsp;&nbsp;&nbsp;&nbsp; 1836249 |
| &nbsp;&nbsp;&nbsp;Hapag-Lloyd AG\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;957 | &nbsp;&nbsp;&nbsp;&nbsp; 138591 |
| &nbsp;&nbsp;&nbsp;Heidelberg Materials AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14701 | &nbsp;&nbsp;&nbsp;&nbsp; 3397297 |
| &nbsp;&nbsp;&nbsp;Volkswagen AG (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91300 | &nbsp;&nbsp;&nbsp;&nbsp; 9598122 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;38269748 |
| **Hong Kong — 2.9%** | **Hong Kong — 2.9%** | **Hong Kong — 2.9%** |
| &nbsp;&nbsp;&nbsp;CK Asset Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;304500 | &nbsp;&nbsp;&nbsp;&nbsp; 1398373 |
| &nbsp;&nbsp;&nbsp;Hang Lung Properties, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;196000 | &nbsp;&nbsp;&nbsp;&nbsp; 201743 |
| &nbsp;&nbsp;&nbsp;Kingboard Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;266500 | &nbsp;&nbsp;&nbsp;&nbsp; 953968 |
| &nbsp;&nbsp;&nbsp;Kingboard Laminates Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;394500 | &nbsp;&nbsp;&nbsp;&nbsp; 507573 |
| &nbsp;&nbsp;&nbsp;New World Development Co., Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;356000 | &nbsp;&nbsp;&nbsp;&nbsp; 292056 |
| &nbsp;&nbsp;&nbsp;PCCW, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;221000 | &nbsp;&nbsp;&nbsp;&nbsp; 158501 |
| &nbsp;&nbsp;&nbsp;Sino Land Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;244000 | &nbsp;&nbsp;&nbsp;&nbsp; 281299 |
| &nbsp;&nbsp;&nbsp;SITC International Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;193000 | &nbsp;&nbsp;&nbsp;&nbsp; 625713 |
| &nbsp;&nbsp;&nbsp;Sun Hung Kai Properties, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;184500 | &nbsp;&nbsp;&nbsp;&nbsp; 2197548 |
| &nbsp;&nbsp;&nbsp;Swire Pacific, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;169500 | &nbsp;&nbsp;&nbsp;&nbsp; 1534137 |
| &nbsp;&nbsp;&nbsp;Want Want China Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;&nbsp; 49838 |
| &nbsp;&nbsp;&nbsp;WH Group, Ltd.\* | 3524000 | &nbsp;&nbsp;&nbsp;&nbsp; 3550935 |
| &nbsp;&nbsp;&nbsp;Wharf Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;193000 | &nbsp;&nbsp;&nbsp;&nbsp; 549497 |
| &nbsp;&nbsp;&nbsp;Wharf Real Estate Investment Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44000 | &nbsp;&nbsp;&nbsp;&nbsp; 139847 |
| &nbsp;&nbsp;&nbsp;Xinyi Glass Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;167000 | &nbsp;&nbsp;&nbsp;&nbsp; 172318 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;12613346 |
| **Ireland — 0.1%** | **Ireland — 0.1%** | **Ireland — 0.1%** |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2526 | &nbsp;&nbsp;&nbsp;&nbsp; 227946 |
| **Israel — 1.8%** | **Israel — 1.8%** | **Israel — 1.8%** |
| &nbsp;&nbsp;&nbsp;Bezeq The Israeli Telecommunication Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;257076 | &nbsp;&nbsp;&nbsp;&nbsp; 479360 |
| &nbsp;&nbsp;&nbsp;Check Point Software Technologies, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4893 | &nbsp;&nbsp;&nbsp;&nbsp; 911076 |
| &nbsp;&nbsp;&nbsp;G City, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41985 | &nbsp;&nbsp;&nbsp;&nbsp; 150891 |
| &nbsp;&nbsp;&nbsp;ICL Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57718 | &nbsp;&nbsp;&nbsp;&nbsp; 361013 |
| &nbsp;&nbsp;&nbsp;Oil Refineries, Ltd. | 1487537 | &nbsp;&nbsp;&nbsp;&nbsp; 389683 |
| &nbsp;&nbsp;&nbsp;Paz Retail & Energy, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1253 | &nbsp;&nbsp;&nbsp;&nbsp; 231909 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PIMCO RAE International Value Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Israel (continued)** | **Israel (continued)** | **Israel (continued)** |
| &nbsp;&nbsp;&nbsp;Plus500, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17041 | &nbsp;&nbsp;$757525 |
| &nbsp;&nbsp;&nbsp;ZIM Integrated Shipping Services, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;288495 | &nbsp;&nbsp;&nbsp;&nbsp; 4572646 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7854103 |
| **Italy — 0.9%** | **Italy — 0.9%** | **Italy — 0.9%** |
| &nbsp;&nbsp;&nbsp;Enel SpA | &nbsp;&nbsp;&nbsp;&nbsp;158411 | &nbsp;&nbsp;&nbsp;&nbsp; 1397961 |
| &nbsp;&nbsp;&nbsp;Eni SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22663 | &nbsp;&nbsp;&nbsp;&nbsp; 385617 |
| &nbsp;&nbsp;&nbsp;Telecom Italia SpA† | 4883404 | &nbsp;&nbsp;&nbsp;&nbsp; 2249795 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4033373 |
| **Japan — 21.5%** | **Japan — 21.5%** | **Japan — 21.5%** |
| &nbsp;&nbsp;&nbsp;AGC, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp; 1266127 |
| &nbsp;&nbsp;&nbsp;Alfresa Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70900 | &nbsp;&nbsp;&nbsp;&nbsp; 1032940 |
| &nbsp;&nbsp;&nbsp;Alps Alpine Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;120700 | &nbsp;&nbsp;&nbsp;&nbsp; 1280637 |
| &nbsp;&nbsp;&nbsp;Amada Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45100 | &nbsp;&nbsp;&nbsp;&nbsp; 510366 |
| &nbsp;&nbsp;&nbsp;Arcs Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;&nbsp; 261638 |
| &nbsp;&nbsp;&nbsp;Astellas Pharma, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45900 | &nbsp;&nbsp;&nbsp;&nbsp; 480458 |
| &nbsp;&nbsp;&nbsp;Bandai Namco Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40100 | &nbsp;&nbsp;&nbsp;&nbsp; 1305111 |
| &nbsp;&nbsp;&nbsp;Bridgestone Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12600 | &nbsp;&nbsp;&nbsp;&nbsp; 512272 |
| &nbsp;&nbsp;&nbsp;Brother Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57600 | &nbsp;&nbsp;&nbsp;&nbsp; 984509 |
| &nbsp;&nbsp;&nbsp;Canon Marketing Japan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14400 | &nbsp;&nbsp;&nbsp;&nbsp; 523480 |
| &nbsp;&nbsp;&nbsp;Canon, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;154700 | &nbsp;&nbsp;&nbsp;&nbsp; 4411207 |
| &nbsp;&nbsp;&nbsp;Chubu Electric Power Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55300 | &nbsp;&nbsp;&nbsp;&nbsp; 676765 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Bottlers Japan Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48300 | &nbsp;&nbsp;&nbsp;&nbsp; 739874 |
| &nbsp;&nbsp;&nbsp;COMSYS Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27800 | &nbsp;&nbsp;&nbsp;&nbsp; 639879 |
| &nbsp;&nbsp;&nbsp;Dai Nippon Printing Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;112600 | &nbsp;&nbsp;&nbsp;&nbsp; 1740148 |
| &nbsp;&nbsp;&nbsp;Daicel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53300 | &nbsp;&nbsp;&nbsp;&nbsp; 460720 |
| &nbsp;&nbsp;&nbsp;Daito Trust Construction Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21100 | &nbsp;&nbsp;&nbsp;&nbsp; 2171565 |
| &nbsp;&nbsp;&nbsp;Denka Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21500 | &nbsp;&nbsp;&nbsp;&nbsp; 303752 |
| &nbsp;&nbsp;&nbsp;Dowa Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6800 | &nbsp;&nbsp;&nbsp;&nbsp; 223570 |
| &nbsp;&nbsp;&nbsp;Edion Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68000 | &nbsp;&nbsp;&nbsp;&nbsp; 904562 |
| &nbsp;&nbsp;&nbsp;Electric Power Development Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62700 | &nbsp;&nbsp;&nbsp;&nbsp; 1084569 |
| &nbsp;&nbsp;&nbsp;EXEO Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp; 88504 |
| &nbsp;&nbsp;&nbsp;Fujitsu, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;339700 | &nbsp;&nbsp;&nbsp;&nbsp; 7445017 |
| &nbsp;&nbsp;&nbsp;Furukawa Electric Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22900 | &nbsp;&nbsp;&nbsp;&nbsp; 1396323 |
| &nbsp;&nbsp;&nbsp;Hakuhodo DY Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35100 | &nbsp;&nbsp;&nbsp;&nbsp; 278263 |
| &nbsp;&nbsp;&nbsp;Hino Motors, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;237600 | &nbsp;&nbsp;&nbsp;&nbsp; 582025 |
| &nbsp;&nbsp;&nbsp;Idemitsu Kosan Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69100 | &nbsp;&nbsp;&nbsp;&nbsp; 443926 |
| &nbsp;&nbsp;&nbsp;Iida Group Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8700 | &nbsp;&nbsp;&nbsp;&nbsp; 122769 |
| &nbsp;&nbsp;&nbsp;Isuzu Motors, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84000 | &nbsp;&nbsp;&nbsp;&nbsp; 1084814 |
| &nbsp;&nbsp;&nbsp;Itoham Yonekyu Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp; 466711 |
| &nbsp;&nbsp;&nbsp;Izumi Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;&nbsp; 241305 |
| &nbsp;&nbsp;&nbsp;Japan Post Holdings Co., Ltd. | 1428300 | &nbsp;&nbsp;&nbsp;&nbsp; 13283758 |
| &nbsp;&nbsp;&nbsp;Japan Post Insurance Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15400 | &nbsp;&nbsp;&nbsp;&nbsp; 395825 |
| &nbsp;&nbsp;&nbsp;JFE Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14500 | &nbsp;&nbsp;&nbsp;&nbsp; 168221 |
| &nbsp;&nbsp;&nbsp;JTEKT Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15300 | &nbsp;&nbsp;&nbsp;&nbsp; 132962 |
| &nbsp;&nbsp;&nbsp;Kamigumi Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp; 168461 |
| &nbsp;&nbsp;&nbsp;Kandenko Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20500 | &nbsp;&nbsp;&nbsp;&nbsp; 488846 |
| &nbsp;&nbsp;&nbsp;Kaneka Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;&nbsp; 242036 |
| &nbsp;&nbsp;&nbsp;Kansai Paint Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14800 | &nbsp;&nbsp;&nbsp;&nbsp; 211253 |
| &nbsp;&nbsp;&nbsp;Kao Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16500 | &nbsp;&nbsp;&nbsp;&nbsp; 745126 |
| &nbsp;&nbsp;&nbsp;KDDI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;122700 | &nbsp;&nbsp;&nbsp;&nbsp; 2022353 |
| &nbsp;&nbsp;&nbsp;Kewpie Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10400 | &nbsp;&nbsp;&nbsp;&nbsp; 284828 |
| &nbsp;&nbsp;&nbsp;Konica Minolta, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;213700 | &nbsp;&nbsp;&nbsp;&nbsp; 695659 |
| &nbsp;&nbsp;&nbsp;K's Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;104800 | &nbsp;&nbsp;&nbsp;&nbsp; 1051475 |
| &nbsp;&nbsp;&nbsp;Lion Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16300 | &nbsp;&nbsp;&nbsp;&nbsp; 159703 |
| &nbsp;&nbsp;&nbsp;MatsukiyoCocokara & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23100 | &nbsp;&nbsp;&nbsp;&nbsp; 475327 |
| &nbsp;&nbsp;&nbsp;Medipal Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75300 | &nbsp;&nbsp;&nbsp;&nbsp; 1253335 |
| &nbsp;&nbsp;&nbsp;MEIJI Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp; 1364499 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Chemical Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;276800 | &nbsp;&nbsp;&nbsp;&nbsp; 1518362 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Gas Chemical Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14100 | &nbsp;&nbsp;&nbsp;&nbsp; 244786 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Materials Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31600 | &nbsp;&nbsp;&nbsp;&nbsp; 486678 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| &nbsp;&nbsp;&nbsp;Mitsui Mining & Smelting Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6400 | &nbsp;&nbsp;$273740 |
| &nbsp;&nbsp;&nbsp;Morinaga Milk Industry Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp; 209188 |
| &nbsp;&nbsp;&nbsp;MS&AD Insurance Group Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;131100 | &nbsp;&nbsp;&nbsp;&nbsp; 2820215 |
| &nbsp;&nbsp;&nbsp;Nagase & Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8700 | &nbsp;&nbsp;&nbsp;&nbsp; 171952 |
| &nbsp;&nbsp;&nbsp;Nichirei Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15700 | &nbsp;&nbsp;&nbsp;&nbsp; 190264 |
| &nbsp;&nbsp;&nbsp;Nikon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76900 | &nbsp;&nbsp;&nbsp;&nbsp; 751407 |
| &nbsp;&nbsp;&nbsp;Nippon Electric Glass Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9300 | &nbsp;&nbsp;&nbsp;&nbsp; 250076 |
| &nbsp;&nbsp;&nbsp;Nippon Express Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13900 | &nbsp;&nbsp;&nbsp;&nbsp; 305652 |
| &nbsp;&nbsp;&nbsp;Nippon Paper Industries Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp; 59944 |
| &nbsp;&nbsp;&nbsp;Nippon Shokubai Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28200 | &nbsp;&nbsp;&nbsp;&nbsp; 321270 |
| &nbsp;&nbsp;&nbsp;Nippon Television Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp; 39282 |
| &nbsp;&nbsp;&nbsp;Nisshinbo Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25200 | &nbsp;&nbsp;&nbsp;&nbsp; 160759 |
| &nbsp;&nbsp;&nbsp;Nitto Denko Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp; 574878 |
| &nbsp;&nbsp;&nbsp;NSK, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24300 | &nbsp;&nbsp;&nbsp;&nbsp; 116907 |
| &nbsp;&nbsp;&nbsp;NTT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;450200 | &nbsp;&nbsp;&nbsp;&nbsp; 455872 |
| &nbsp;&nbsp;&nbsp;Omron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16200 | &nbsp;&nbsp;&nbsp;&nbsp; 421007 |
| &nbsp;&nbsp;&nbsp;Otsuka Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp; 104584 |
| &nbsp;&nbsp;&nbsp;PALTAC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10300 | &nbsp;&nbsp;&nbsp;&nbsp; 295544 |
| &nbsp;&nbsp;&nbsp;Panasonic Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;155500 | &nbsp;&nbsp;&nbsp;&nbsp; 1485396 |
| &nbsp;&nbsp;&nbsp;Persol Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;663200 | &nbsp;&nbsp;&nbsp;&nbsp; 1275385 |
| &nbsp;&nbsp;&nbsp;Ricoh Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84500 | &nbsp;&nbsp;&nbsp;&nbsp; 745539 |
| &nbsp;&nbsp;&nbsp;Sankyu, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp; 588793 |
| &nbsp;&nbsp;&nbsp;Seiko Epson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80500 | &nbsp;&nbsp;&nbsp;&nbsp; 1027870 |
| &nbsp;&nbsp;&nbsp;Seino Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38200 | &nbsp;&nbsp;&nbsp;&nbsp; 583133 |
| &nbsp;&nbsp;&nbsp;Sekisui Chemical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69400 | &nbsp;&nbsp;&nbsp;&nbsp; 1211509 |
| &nbsp;&nbsp;&nbsp;SG Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29900 | &nbsp;&nbsp;&nbsp;&nbsp; 333401 |
| &nbsp;&nbsp;&nbsp;Sharp Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25600 | &nbsp;&nbsp;&nbsp;&nbsp; 121855 |
| &nbsp;&nbsp;&nbsp;Shimamura Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11300 | &nbsp;&nbsp;&nbsp;&nbsp; 823521 |
| &nbsp;&nbsp;&nbsp;Sohgo Security Services Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16100 | &nbsp;&nbsp;&nbsp;&nbsp; 112476 |
| &nbsp;&nbsp;&nbsp;Square Enix Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8300 | &nbsp;&nbsp;&nbsp;&nbsp; 565259 |
| &nbsp;&nbsp;&nbsp;Subaru Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35100 | &nbsp;&nbsp;&nbsp;&nbsp; 646953 |
| &nbsp;&nbsp;&nbsp;Sugi Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34400 | &nbsp;&nbsp;&nbsp;&nbsp; 833767 |
| &nbsp;&nbsp;&nbsp;Sumitomo Chemical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;279700 | &nbsp;&nbsp;&nbsp;&nbsp; 704258 |
| &nbsp;&nbsp;&nbsp;Sumitomo Heavy Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5300 | &nbsp;&nbsp;&nbsp;&nbsp; 118301 |
| &nbsp;&nbsp;&nbsp;Sumitomo Pharma Co., Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;142700 | &nbsp;&nbsp;&nbsp;&nbsp; 1252883 |
| &nbsp;&nbsp;&nbsp;Sumitomo Rubber Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp; 257645 |
| &nbsp;&nbsp;&nbsp;Suzuken Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40200 | &nbsp;&nbsp;&nbsp;&nbsp; 1524828 |
| &nbsp;&nbsp;&nbsp;Taiyo Yuden Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52500 | &nbsp;&nbsp;&nbsp;&nbsp; 994645 |
| &nbsp;&nbsp;&nbsp;Teijin, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13300 | &nbsp;&nbsp;&nbsp;&nbsp; 113553 |
| &nbsp;&nbsp;&nbsp;TIS, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19300 | &nbsp;&nbsp;&nbsp;&nbsp; 618931 |
| &nbsp;&nbsp;&nbsp;Toho Gas Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8900 | &nbsp;&nbsp;&nbsp;&nbsp; 248232 |
| &nbsp;&nbsp;&nbsp;Toho Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp; 57392 |
| &nbsp;&nbsp;&nbsp;Tokai Rika Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10200 | &nbsp;&nbsp;&nbsp;&nbsp; 163890 |
| &nbsp;&nbsp;&nbsp;Tokyo Gas Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26100 | &nbsp;&nbsp;&nbsp;&nbsp; 873865 |
| &nbsp;&nbsp;&nbsp;Toppan Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32400 | &nbsp;&nbsp;&nbsp;&nbsp; 879398 |
| &nbsp;&nbsp;&nbsp;TOTO, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11300 | &nbsp;&nbsp;&nbsp;&nbsp; 291567 |
| &nbsp;&nbsp;&nbsp;Toyo Seikan Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52600 | &nbsp;&nbsp;&nbsp;&nbsp; 1094206 |
| &nbsp;&nbsp;&nbsp;Toyoda Gosei Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3700 | &nbsp;&nbsp;&nbsp;&nbsp; 78662 |
| &nbsp;&nbsp;&nbsp;Toyota Boshoku Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp; 78488 |
| &nbsp;&nbsp;&nbsp;TS Tech Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp; 168641 |
| &nbsp;&nbsp;&nbsp;Tsuruha Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11100 | &nbsp;&nbsp;&nbsp;&nbsp; 818146 |
| &nbsp;&nbsp;&nbsp;UBE Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp; 76873 |
| &nbsp;&nbsp;&nbsp;United Super Markets Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25200 | &nbsp;&nbsp;&nbsp;&nbsp; 157416 |
| &nbsp;&nbsp;&nbsp;Welcia Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11100 | &nbsp;&nbsp;&nbsp;&nbsp; 186521 |
| &nbsp;&nbsp;&nbsp;Yamada Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;483900 | &nbsp;&nbsp;&nbsp;&nbsp; 1480901 |
| &nbsp;&nbsp;&nbsp;Yamaha Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28500 | &nbsp;&nbsp;&nbsp;&nbsp; 205529 |
| &nbsp;&nbsp;&nbsp;Yamato Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;172900 | &nbsp;&nbsp;&nbsp;&nbsp; 2516681 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;91896149 |
| **Jersey — 2.7%** | **Jersey — 2.7%** | **Jersey — 2.7%** |
| &nbsp;&nbsp;&nbsp;Glencore PLC | 2814900 | &nbsp;&nbsp;&nbsp;&nbsp; 11329073 |
| **Luxembourg — 2.5%** | **Luxembourg — 2.5%** | **Luxembourg — 2.5%** |
| &nbsp;&nbsp;&nbsp;ArcelorMittal SA | &nbsp;&nbsp;&nbsp;&nbsp;342025 | &nbsp;&nbsp;&nbsp;&nbsp; 10741572 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PIMCO RAE International Value Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Netherlands — 6.5%** | **Netherlands — 6.5%** | **Netherlands — 6.5%** |
| &nbsp;&nbsp;&nbsp;Akzo Nobel NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30017 | &nbsp;&nbsp;$1886787 |
| &nbsp;&nbsp;&nbsp;Koninklijke Ahold Delhaize NV | &nbsp;&nbsp;&nbsp;&nbsp;433160 | &nbsp;&nbsp;&nbsp;&nbsp; 17103540 |
| &nbsp;&nbsp;&nbsp;NN Group NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62537 | &nbsp;&nbsp;&nbsp;&nbsp; 4222083 |
| &nbsp;&nbsp;&nbsp;Randstad NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81508 | &nbsp;&nbsp;&nbsp;&nbsp; 3891826 |
| &nbsp;&nbsp;&nbsp;Signify NV\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14598 | &nbsp;&nbsp;&nbsp;&nbsp; 351510 |
| &nbsp;&nbsp;&nbsp;Stellantis NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49613 | &nbsp;&nbsp;&nbsp;&nbsp; 439528 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;27895274 |
| **New Zealand — 0.1%** | **New Zealand — 0.1%** | **New Zealand — 0.1%** |
| &nbsp;&nbsp;&nbsp;Air New Zealand, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;204739 | &nbsp;&nbsp;&nbsp;&nbsp; 69955 |
| &nbsp;&nbsp;&nbsp;Fletcher Building, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93433 | &nbsp;&nbsp;&nbsp;&nbsp; 167325 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237280 |
| **Norway — 2.8%** | **Norway — 2.8%** | **Norway — 2.8%** |
| &nbsp;&nbsp;&nbsp;DNO ASA | &nbsp;&nbsp;&nbsp;&nbsp;288171 | &nbsp;&nbsp;&nbsp;&nbsp; 396076 |
| &nbsp;&nbsp;&nbsp;Elkem ASA\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25175 | &nbsp;&nbsp;&nbsp;&nbsp; 58733 |
| &nbsp;&nbsp;&nbsp;Equinor ASA | &nbsp;&nbsp;&nbsp;&nbsp;188099 | &nbsp;&nbsp;&nbsp;&nbsp; 4870448 |
| &nbsp;&nbsp;&nbsp;Leroy Seafood Group ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23183 | &nbsp;&nbsp;&nbsp;&nbsp; 105794 |
| &nbsp;&nbsp;&nbsp;Telenor ASA | &nbsp;&nbsp;&nbsp;&nbsp;122371 | &nbsp;&nbsp;&nbsp;&nbsp; 1878406 |
| &nbsp;&nbsp;&nbsp;Yara International ASA | &nbsp;&nbsp;&nbsp;&nbsp;131004 | &nbsp;&nbsp;&nbsp;&nbsp; 4867018 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;12176475 |
| **Singapore — 0.6%** | **Singapore — 0.6%** | **Singapore — 0.6%** |
| &nbsp;&nbsp;&nbsp;ComfortDelGro Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;669200 | &nbsp;&nbsp;&nbsp;&nbsp; 788568 |
| &nbsp;&nbsp;&nbsp;Hutchison Port Holdings Trust | 1950100 | &nbsp;&nbsp;&nbsp;&nbsp; 390020 |
| &nbsp;&nbsp;&nbsp;Jardine Cycle & Carriage, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19100 | &nbsp;&nbsp;&nbsp;&nbsp; 387619 |
| &nbsp;&nbsp;&nbsp;JOYY, Inc. ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20431 | &nbsp;&nbsp;&nbsp;&nbsp; 1025636 |
| &nbsp;&nbsp;&nbsp;Venture Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16500 | &nbsp;&nbsp;&nbsp;&nbsp; 164187 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2756030 |
| **Spain — 3.0%** | **Spain — 3.0%** | **Spain — 3.0%** |
| &nbsp;&nbsp;&nbsp;Endesa SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16794 | &nbsp;&nbsp;&nbsp;&nbsp; 485840 |
| &nbsp;&nbsp;&nbsp;Mapfre SA | &nbsp;&nbsp;&nbsp;&nbsp;486229 | &nbsp;&nbsp;&nbsp;&nbsp; 1982047 |
| &nbsp;&nbsp;&nbsp;Naturgy Energy Group SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14148 | &nbsp;&nbsp;&nbsp;&nbsp; 443684 |
| &nbsp;&nbsp;&nbsp;Telefonica SA | 1914972 | &nbsp;&nbsp;&nbsp;&nbsp; 9886591 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;12798162 |
| **Sweden — 2.6%** | **Sweden — 2.6%** | **Sweden — 2.6%** |
| &nbsp;&nbsp;&nbsp;Electrolux AB, Class B† | &nbsp;&nbsp;&nbsp;&nbsp;138448 | &nbsp;&nbsp;&nbsp;&nbsp; 846026 |
| &nbsp;&nbsp;&nbsp;H & M Hennes & Mauritz AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46596 | &nbsp;&nbsp;&nbsp;&nbsp; 629975 |
| &nbsp;&nbsp;&nbsp;Peab AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84357 | &nbsp;&nbsp;&nbsp;&nbsp; 635096 |
| &nbsp;&nbsp;&nbsp;Skanska AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31077 | &nbsp;&nbsp;&nbsp;&nbsp; 724127 |
| &nbsp;&nbsp;&nbsp;SSAB AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;161315 | &nbsp;&nbsp;&nbsp;&nbsp; 932700 |
| &nbsp;&nbsp;&nbsp;Tele2 AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;134225 | &nbsp;&nbsp;&nbsp;&nbsp; 2074545 |
| &nbsp;&nbsp;&nbsp;Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp;&nbsp;&nbsp;655478 | &nbsp;&nbsp;&nbsp;&nbsp; 4776852 |
| &nbsp;&nbsp;&nbsp;Telia Co. AB | &nbsp;&nbsp;&nbsp;&nbsp;101896 | &nbsp;&nbsp;&nbsp;&nbsp; 360254 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10979575 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Switzerland — 5.5%** | **Switzerland — 5.5%** |  |
| &nbsp;&nbsp;&nbsp;Adecco Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48743 | &nbsp;&nbsp;$1544654 |
| &nbsp;&nbsp;&nbsp;Nestle SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5240 | &nbsp;&nbsp;&nbsp;&nbsp; 458681 |
| &nbsp;&nbsp;&nbsp;Novartis AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26065 | &nbsp;&nbsp;&nbsp;&nbsp; 3022545 |
| &nbsp;&nbsp;&nbsp;Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54905 | &nbsp;&nbsp;&nbsp;&nbsp; 17378979 |
| &nbsp;&nbsp;&nbsp;Swiss Life Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211 | &nbsp;&nbsp;&nbsp;&nbsp; 219715 |
| &nbsp;&nbsp;&nbsp;Zurich Insurance Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1426 | &nbsp;&nbsp;&nbsp;&nbsp; 977177 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;23601751 |
| **United Kingdom — 17.6%** | **United Kingdom — 17.6%** |  |
| &nbsp;&nbsp;&nbsp;Aberdeen Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;491714 | &nbsp;&nbsp;&nbsp;&nbsp; 1302660 |
| &nbsp;&nbsp;&nbsp;British American Tobacco PLC | &nbsp;&nbsp;&nbsp;&nbsp;377395 | &nbsp;&nbsp;&nbsp;&nbsp; 20135628 |
| &nbsp;&nbsp;&nbsp;BT Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;364291 | &nbsp;&nbsp;&nbsp;&nbsp; 996360 |
| &nbsp;&nbsp;&nbsp;Centrica PLC | 1474506 | &nbsp;&nbsp;&nbsp;&nbsp; 3205266 |
| &nbsp;&nbsp;&nbsp;Currys PLC† | &nbsp;&nbsp;&nbsp;&nbsp;573993 | &nbsp;&nbsp;&nbsp;&nbsp; 855831 |
| &nbsp;&nbsp;&nbsp;Evraz PLC†(1) | &nbsp;&nbsp;&nbsp;&nbsp;204785 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;GSK PLC | &nbsp;&nbsp;&nbsp;&nbsp;242779 | &nbsp;&nbsp;&nbsp;&nbsp; 4546477 |
| &nbsp;&nbsp;&nbsp;Imperial Brands PLC | &nbsp;&nbsp;&nbsp;&nbsp;151021 | &nbsp;&nbsp;&nbsp;&nbsp; 5891631 |
| &nbsp;&nbsp;&nbsp;Johnson Matthey PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8767 | &nbsp;&nbsp;&nbsp;&nbsp; 204702 |
| &nbsp;&nbsp;&nbsp;Kingfisher PLC | &nbsp;&nbsp;&nbsp;&nbsp;813892 | &nbsp;&nbsp;&nbsp;&nbsp; 2907513 |
| &nbsp;&nbsp;&nbsp;M&G PLC | &nbsp;&nbsp;&nbsp;&nbsp;839836 | &nbsp;&nbsp;&nbsp;&nbsp; 2901482 |
| &nbsp;&nbsp;&nbsp;NatWest Group PLC | 1326870 | &nbsp;&nbsp;&nbsp;&nbsp; 9234782 |
| &nbsp;&nbsp;&nbsp;Pearson PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13811 | &nbsp;&nbsp;&nbsp;&nbsp; 195619 |
| &nbsp;&nbsp;&nbsp;Persimmon PLC | &nbsp;&nbsp;&nbsp;&nbsp;122506 | &nbsp;&nbsp;&nbsp;&nbsp; 1852467 |
| &nbsp;&nbsp;&nbsp;Taylor Wimpey PLC | &nbsp;&nbsp;&nbsp;&nbsp;354560 | &nbsp;&nbsp;&nbsp;&nbsp; 478785 |
| &nbsp;&nbsp;&nbsp;Tesco PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37246 | &nbsp;&nbsp;&nbsp;&nbsp; 209250 |
| &nbsp;&nbsp;&nbsp;Vodafone Group PLC | 18809677 | &nbsp;&nbsp;&nbsp;&nbsp; 20374585 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;75293038 |
| **TOTAL INVESTMENTS<br> (cost $387,875,098)(2)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.1% | &nbsp;&nbsp;&nbsp;&nbsp;424623440 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3843852 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$428467292 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The SA PIMCO RAE International Value Portfolio has no right to demand registration of these securities. At July 31, 2025, the aggregate value of these securities was $4,248,488 representing 1.0% of net assets. |
| † | &nbsp;&nbsp;Non-income producing security |
| (1) | &nbsp;&nbsp;Securities classified as Level 3 (see Note 2). |
| (2) | &nbsp;&nbsp;See Note 4 for cost of investments on a tax basis. |

---

ADR—American Depositary Receipt

---

| | |
|:---|:---|
| **Industry Allocation\*** |  |
| Telecommunications | &nbsp;&nbsp;11.8% |
| Pharmaceuticals | &nbsp;&nbsp;10.8 |
| Insurance | &nbsp;&nbsp;&nbsp;&nbsp;7.7 |
| Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;6.7 |
| Food | &nbsp;&nbsp;&nbsp;&nbsp;6.4 |
| Agriculture | &nbsp;&nbsp;&nbsp;&nbsp;6.1 |
| Transportation | &nbsp;&nbsp;&nbsp;&nbsp;6.0 |
| Auto Manufacturers | &nbsp;&nbsp;&nbsp;&nbsp;3.6 |
| Iron/Steel | &nbsp;&nbsp;&nbsp;&nbsp;3.6 |
| Mining | &nbsp;&nbsp;&nbsp;&nbsp;3.4 |
| Retail | &nbsp;&nbsp;&nbsp;&nbsp;3.2 |
| Auto Parts & Equipment | &nbsp;&nbsp;&nbsp;&nbsp;2.9 |
| Electric | &nbsp;&nbsp;&nbsp;&nbsp;2.6 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PIMCO RAE International Value Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | |
|:---|:---|
| **Industry Allocation\*(continued)** |  |
| Commercial Services | &nbsp;&nbsp;&nbsp;&nbsp;2.4% |
| Banks | &nbsp;&nbsp;&nbsp;&nbsp;2.3 |
| Oil & Gas | &nbsp;&nbsp;&nbsp;&nbsp;2.2 |
| Real Estate | &nbsp;&nbsp;&nbsp;&nbsp;2.2 |
| Computers | &nbsp;&nbsp;&nbsp;&nbsp;2.0 |
| Building Materials | &nbsp;&nbsp;&nbsp;&nbsp;1.8 |
| Office/Business Equipment | &nbsp;&nbsp;&nbsp;&nbsp;1.7 |
| Gas | &nbsp;&nbsp;&nbsp;&nbsp;1.0 |
| Engineering & Construction | &nbsp;&nbsp;&nbsp;&nbsp;0.9 |
| Home Builders | &nbsp;&nbsp;&nbsp;&nbsp;0.8 |
| Electrical Components & Equipment | &nbsp;&nbsp;&nbsp;&nbsp;0.7 |
| Home Furnishings | &nbsp;&nbsp;&nbsp;&nbsp;0.7 |
| Electronics | &nbsp;&nbsp;&nbsp;&nbsp;0.6 |
| Diversified Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;0.6 |
| Healthcare-Services | &nbsp;&nbsp;&nbsp;&nbsp;0.5 |
| Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;0.4 |
| Machinery-Diversified | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Toys/Games/Hobbies | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Holding Companies-Diversified | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Packaging & Containers | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Software | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Hand/Machine Tools | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Internet | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Miscellaneous Manufacturing | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Cosmetics/Personal Care | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Private Equity | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Beverages | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Leisure Time | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| REITS | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Apparel | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Distribution/Wholesale | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Metal Fabricate/Hardware | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Advertising | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Forest Products & Paper | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Healthcare-Products | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
|  | &nbsp;&nbsp;99.1% |

---

\* Calculated as a percentage of net assets

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;$75293038 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$75293038 |
| &nbsp;&nbsp;&nbsp;Other Countries | &nbsp;&nbsp;&nbsp;&nbsp;349330402 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;349330402 |
| **Total Investments at Value** | &nbsp;&nbsp;$424623440 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$424623440 |

---

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

Level 3 investments in securities were not considered a significant portion of the Portfolio's net assets.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PineBridge High-Yield Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES — 95.9%** | **CORPORATE BONDS & NOTES — 95.9%** | **CORPORATE BONDS & NOTES — 95.9%** |
| **Advertising — 0.8%** | **Advertising — 0.8%** | **Advertising — 0.8%** |
| &nbsp;&nbsp;&nbsp;Neptune Bidco US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.29%, 04/15/2029\* | $2035000 | &nbsp;&nbsp;$1969432 |
| **Airlines — 1.3%** | **Airlines — 1.3%** | **Airlines — 1.3%** |
| &nbsp;&nbsp;&nbsp;Air Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 08/15/2026\* | &nbsp;&nbsp;1085000 | &nbsp;&nbsp;&nbsp;&nbsp; 1073357 |
| &nbsp;&nbsp;&nbsp;American Airlines, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 05/15/2029\* | &nbsp;&nbsp;1620000 | &nbsp;&nbsp;&nbsp;&nbsp; 1693103 |
| &nbsp;&nbsp;&nbsp;United Airlines, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 04/15/2026\* | &nbsp;&nbsp; 722000 | &nbsp;&nbsp;&nbsp;&nbsp; 717710 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3484170 |
| **Auto Manufacturers — 0.1%** | **Auto Manufacturers — 0.1%** | **Auto Manufacturers — 0.1%** |
| &nbsp;&nbsp;&nbsp;JB Poindexter & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 12/15/2031\* | &nbsp;&nbsp; 248000 | &nbsp;&nbsp;&nbsp;&nbsp; 253639 |
| **Banks — 0.4%** | **Banks — 0.4%** | **Banks — 0.4%** |
| &nbsp;&nbsp;&nbsp;Walker & Dunlop, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 04/01/2033\* | &nbsp;&nbsp; 910000 | &nbsp;&nbsp;&nbsp;&nbsp; 927772 |
| **Building Materials — 0.5%** | **Building Materials — 0.5%** | **Building Materials — 0.5%** |
| &nbsp;&nbsp;&nbsp;Standard Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 01/15/2031\* | &nbsp;&nbsp;1495000 | &nbsp;&nbsp;&nbsp;&nbsp; 1335528 |
| **Chemicals — 1.7%** | **Chemicals — 1.7%** | **Chemicals — 1.7%** |
| &nbsp;&nbsp;&nbsp;Consolidated Energy Finance SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 10/15/2028\* | &nbsp;&nbsp;1630000 | &nbsp;&nbsp;&nbsp;&nbsp; 1364932 |
| &nbsp;&nbsp;&nbsp;Methanex Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 10/15/2027 | &nbsp;&nbsp; 765000 | &nbsp;&nbsp;&nbsp;&nbsp; 761159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 12/15/2029 | &nbsp;&nbsp; 66000 | &nbsp;&nbsp;&nbsp;&nbsp; 65372 |
| &nbsp;&nbsp;&nbsp;Methanex US Operations, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 03/15/2032\* | &nbsp;&nbsp; 635000 | &nbsp;&nbsp;&nbsp;&nbsp; 629440 |
| &nbsp;&nbsp;&nbsp;Minerals Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/01/2028\* | &nbsp;&nbsp;1311000 | &nbsp;&nbsp;&nbsp;&nbsp; 1290588 |
| &nbsp;&nbsp;&nbsp;Trinseo Luxco Finance SPV SARL/Trinseo NA Finance SPV LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.63%, 05/03/2029\*(1) | &nbsp;&nbsp; 686785 | &nbsp;&nbsp;&nbsp;&nbsp; 388034 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4499525 |
| **Coal — 0.2%** | **Coal — 0.2%** | **Coal — 0.2%** |
| &nbsp;&nbsp;&nbsp;Warrior Met Coal, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 12/01/2028\* | &nbsp;&nbsp; 505000 | &nbsp;&nbsp;&nbsp;&nbsp; 511410 |
| **Commercial Services — 6.8%** | **Commercial Services — 6.8%** | **Commercial Services — 6.8%** |
| &nbsp;&nbsp;&nbsp;Avis Budget Car Rental LLC/Avis Budget Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 03/01/2029\* | &nbsp;&nbsp; 655000 | &nbsp;&nbsp;&nbsp;&nbsp; 627103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 01/15/2030\* | &nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp; 277839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.38%, 06/15/2032\* | &nbsp;&nbsp; 398000 | &nbsp;&nbsp;&nbsp;&nbsp; 410580 |
| &nbsp;&nbsp;&nbsp;Block, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 05/15/2032 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1026188 |
| &nbsp;&nbsp;&nbsp;Boost Newco Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 01/15/2031\* | &nbsp;&nbsp; 346000 | &nbsp;&nbsp;&nbsp;&nbsp; 365829 |
| &nbsp;&nbsp;&nbsp;Champions Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 02/15/2029\* | &nbsp;&nbsp;1360000 | &nbsp;&nbsp;&nbsp;&nbsp; 1259243 |
| &nbsp;&nbsp;&nbsp;Deluxe Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 06/01/2029\* | &nbsp;&nbsp;1810000 | &nbsp;&nbsp;&nbsp;&nbsp; 1736576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.13%, 09/15/2029\* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 15442 |
| &nbsp;&nbsp;&nbsp;EquipmentShare.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 03/15/2033\* | &nbsp;&nbsp; 362000 | &nbsp;&nbsp;&nbsp;&nbsp; 377932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.63%, 05/15/2032\* | &nbsp;&nbsp;1351000 | &nbsp;&nbsp;&nbsp;&nbsp; 1437971 |
| &nbsp;&nbsp;&nbsp;Herc Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 06/15/2030\* | &nbsp;&nbsp; 423000 | &nbsp;&nbsp;&nbsp;&nbsp; 437185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 06/15/2033\* | &nbsp;&nbsp; 875000 | &nbsp;&nbsp;&nbsp;&nbsp; 906075 |
| &nbsp;&nbsp;&nbsp;Hertz Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 12/01/2026\* | &nbsp;&nbsp; 947000 | &nbsp;&nbsp;&nbsp;&nbsp; 856553 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.63%, 07/15/2029\* | $405000 | &nbsp;&nbsp;$423116 |
| &nbsp;&nbsp;&nbsp;Mobius Merger Sub, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 06/01/2030\* | &nbsp;&nbsp;1637000 | &nbsp;&nbsp;&nbsp;&nbsp; 1502200 |
| &nbsp;&nbsp;&nbsp;Prime Security Services Borrower LLC/Prime Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 01/15/2028\* | &nbsp;&nbsp;1286000 | &nbsp;&nbsp;&nbsp;&nbsp; 1285908 |
| &nbsp;&nbsp;&nbsp;Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 08/15/2032\* | &nbsp;&nbsp;1022000 | &nbsp;&nbsp;&nbsp;&nbsp; 1055721 |
| &nbsp;&nbsp;&nbsp;Veritiv Operating Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.50%, 11/30/2030\* | &nbsp;&nbsp;1205000 | &nbsp;&nbsp;&nbsp;&nbsp; 1306072 |
| &nbsp;&nbsp;&nbsp;VM Consolidated, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 04/15/2029\* | &nbsp;&nbsp;1583000 | &nbsp;&nbsp;&nbsp;&nbsp; 1553966 |
| &nbsp;&nbsp;&nbsp;WEX, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 03/15/2033\* | &nbsp;&nbsp;1037000 | &nbsp;&nbsp;&nbsp;&nbsp; 1050303 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;17911802 |
| **Computers — 0.8%** | **Computers — 0.8%** | **Computers — 0.8%** |
| &nbsp;&nbsp;&nbsp;Fortress Intermediate 3, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 06/01/2031\* | &nbsp;&nbsp;1005000 | &nbsp;&nbsp;&nbsp;&nbsp; 1054730 |
| &nbsp;&nbsp;&nbsp;Seagate Data Storage Technology Pte, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.09%, 06/01/2029\* | &nbsp;&nbsp;1025000 | &nbsp;&nbsp;&nbsp;&nbsp; 979506 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2034236 |
| **Cosmetics/Personal Care — 1.1%** | **Cosmetics/Personal Care — 1.1%** | **Cosmetics/Personal Care — 1.1%** |
| &nbsp;&nbsp;&nbsp;Edgewell Personal Care Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 04/01/2029\* | &nbsp;&nbsp;1390000 | &nbsp;&nbsp;&nbsp;&nbsp; 1314568 |
| &nbsp;&nbsp;&nbsp;Perrigo Finance Unlimited Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 09/30/2032 | &nbsp;&nbsp;1680000 | &nbsp;&nbsp;&nbsp;&nbsp; 1697583 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3012151 |
| **Diversified Financial Services — 7.1%** | **Diversified Financial Services — 7.1%** | **Diversified Financial Services — 7.1%** |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 06/15/2026(2) | &nbsp;&nbsp; 802000 | &nbsp;&nbsp;&nbsp;&nbsp; 792230 |
| &nbsp;&nbsp;&nbsp;Aircastle, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 06/15/2026\*(2) | &nbsp;&nbsp;1340000 | &nbsp;&nbsp;&nbsp;&nbsp; 1330726 |
| &nbsp;&nbsp;&nbsp;Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.65%, 01/17/2040 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 148896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.70%, 02/14/2033 | &nbsp;&nbsp;1861000 | &nbsp;&nbsp;&nbsp;&nbsp; 1932590 |
| &nbsp;&nbsp;&nbsp;Bread Financial Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.75%, 03/15/2029\* | &nbsp;&nbsp; 674000 | &nbsp;&nbsp;&nbsp;&nbsp; 723046 |
| &nbsp;&nbsp;&nbsp;Burford Capital Global Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 04/15/2028\* | &nbsp;&nbsp; 912000 | &nbsp;&nbsp;&nbsp;&nbsp; 909508 |
| &nbsp;&nbsp;&nbsp;Cobra AcquisitionCo LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 11/01/2029\* | &nbsp;&nbsp;1790000 | &nbsp;&nbsp;&nbsp;&nbsp; 1561180 |
| &nbsp;&nbsp;&nbsp;Credit Acceptance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 03/15/2030\* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 15190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.25%, 12/15/2028\* | &nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1269101 |
| &nbsp;&nbsp;&nbsp;EZCORP, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 04/01/2032\* | &nbsp;&nbsp; 786000 | &nbsp;&nbsp;&nbsp;&nbsp; 818588 |
| &nbsp;&nbsp;&nbsp;Focus Financial Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 09/15/2031\* | &nbsp;&nbsp;1300000 | &nbsp;&nbsp;&nbsp;&nbsp; 1328488 |
| &nbsp;&nbsp;&nbsp;goeasy, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 05/15/2030\* | &nbsp;&nbsp; 790000 | &nbsp;&nbsp;&nbsp;&nbsp; 791522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.63%, 07/01/2029\* | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 669336 |
| &nbsp;&nbsp;&nbsp;Jane Street Group/JSG Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 11/01/2032\* | &nbsp;&nbsp; 626000 | &nbsp;&nbsp;&nbsp;&nbsp; 621095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 05/01/2033\* | &nbsp;&nbsp; 333000 | &nbsp;&nbsp;&nbsp;&nbsp; 340786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.13%, 04/30/2031\* | &nbsp;&nbsp;1090000 | &nbsp;&nbsp;&nbsp;&nbsp; 1125780 |
| &nbsp;&nbsp;&nbsp;Phoenix Aviation Capital, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.25%, 07/15/2030\* | &nbsp;&nbsp; 943000 | &nbsp;&nbsp;&nbsp;&nbsp; 988081 |
| &nbsp;&nbsp;&nbsp;Planet Financial Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.50%, 12/15/2029\* | &nbsp;&nbsp;1279000 | &nbsp;&nbsp;&nbsp;&nbsp; 1305083 |
| &nbsp;&nbsp;&nbsp;Rfna LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 02/15/2030\* | &nbsp;&nbsp; 708000 | &nbsp;&nbsp;&nbsp;&nbsp; 719142 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PineBridge High-Yield Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| &nbsp;&nbsp;&nbsp;VFH Parent LLC/Valor Co.-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 06/15/2031\* | $1275000 | &nbsp;&nbsp;$1326579 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;18716947 |
| **Electric — 4.3%** | **Electric — 4.3%** | **Electric — 4.3%** |
| &nbsp;&nbsp;&nbsp;California Buyer, Ltd./Atlantica Sustainable Infrastructure PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 02/15/2032\* | &nbsp;&nbsp;1295000 | &nbsp;&nbsp;&nbsp;&nbsp; 1308098 |
| &nbsp;&nbsp;&nbsp;Calpine Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 03/01/2031\* | &nbsp;&nbsp; 732000 | &nbsp;&nbsp;&nbsp;&nbsp; 688196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/01/2031\* | &nbsp;&nbsp; 995000 | &nbsp;&nbsp;&nbsp;&nbsp; 983477 |
| &nbsp;&nbsp;&nbsp;Clearway Energy Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 01/15/2032\* | &nbsp;&nbsp;1021000 | &nbsp;&nbsp;&nbsp;&nbsp; 906963 |
| &nbsp;&nbsp;&nbsp;NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 02/15/2031\* | &nbsp;&nbsp;1455000 | &nbsp;&nbsp;&nbsp;&nbsp; 1331921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 06/15/2029\* | &nbsp;&nbsp;1054000 | &nbsp;&nbsp;&nbsp;&nbsp; 1042294 |
| &nbsp;&nbsp;&nbsp;Pattern Energy Operations LP/Pattern Energy Operations, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 08/15/2028\* | &nbsp;&nbsp;1645000 | &nbsp;&nbsp;&nbsp;&nbsp; 1594801 |
| &nbsp;&nbsp;&nbsp;Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/31/2027\* | &nbsp;&nbsp;1577000 | &nbsp;&nbsp;&nbsp;&nbsp; 1568551 |
| &nbsp;&nbsp;&nbsp;XPLR Infrastructure Operating Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 01/15/2029\* | &nbsp;&nbsp;1825000 | &nbsp;&nbsp;&nbsp;&nbsp; 1861142 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11285443 |
| **Electrical Components & Equipment — 0.8%** | **Electrical Components & Equipment — 0.8%** | **Electrical Components & Equipment — 0.8%** |
| &nbsp;&nbsp;&nbsp;EnerSys |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 12/15/2027\* | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 982290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 01/15/2032\* | &nbsp;&nbsp; 159000 | &nbsp;&nbsp;&nbsp;&nbsp; 163397 |
| &nbsp;&nbsp;&nbsp;WESCO Distribution, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 03/15/2033\* | &nbsp;&nbsp; 962000 | &nbsp;&nbsp;&nbsp;&nbsp; 984857 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2130544 |
| **Electronics — 1.0%** | **Electronics — 1.0%** | **Electronics — 1.0%** |
| &nbsp;&nbsp;&nbsp;Imola Merger Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 05/15/2029\* | &nbsp;&nbsp;1340000 | &nbsp;&nbsp;&nbsp;&nbsp; 1300108 |
| &nbsp;&nbsp;&nbsp;TTM Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 03/01/2029\* | &nbsp;&nbsp;1525000 | &nbsp;&nbsp;&nbsp;&nbsp; 1451520 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2751628 |
| **Entertainment — 2.8%** | **Entertainment — 2.8%** | **Entertainment — 2.8%** |
| &nbsp;&nbsp;&nbsp;Banijay Entertainment SASU |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.13%, 05/01/2029\* | &nbsp;&nbsp;1420000 | &nbsp;&nbsp;&nbsp;&nbsp; 1472566 |
| &nbsp;&nbsp;&nbsp;Flutter Treasury DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 06/04/2031\* | &nbsp;&nbsp;1295000 | &nbsp;&nbsp;&nbsp;&nbsp; 1303540 |
| &nbsp;&nbsp;&nbsp;Ontario Gaming GTA LP/OTG Co.-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 08/01/2030\* | &nbsp;&nbsp;1525000 | &nbsp;&nbsp;&nbsp;&nbsp; 1542418 |
| &nbsp;&nbsp;&nbsp;SeaWorld Parks & Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 08/15/2029\* | &nbsp;&nbsp;1545000 | &nbsp;&nbsp;&nbsp;&nbsp; 1503829 |
| &nbsp;&nbsp;&nbsp;Voyager Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.25%, 07/01/2032\* | &nbsp;&nbsp;1460000 | &nbsp;&nbsp;&nbsp;&nbsp; 1544452 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7366805 |
| **Food — 1.9%** | **Food — 1.9%** | **Food — 1.9%** |
| &nbsp;&nbsp;&nbsp;Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 01/15/2027\* | &nbsp;&nbsp; 910000 | &nbsp;&nbsp;&nbsp;&nbsp; 902625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 02/15/2028\* | &nbsp;&nbsp; 847000 | &nbsp;&nbsp;&nbsp;&nbsp; 846332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 03/15/2033\* | &nbsp;&nbsp; 555000 | &nbsp;&nbsp;&nbsp;&nbsp; 565698 |
| &nbsp;&nbsp;&nbsp;C&S Group Enterprises LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 12/15/2028\* | &nbsp;&nbsp;1459000 | &nbsp;&nbsp;&nbsp;&nbsp; 1304741 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Food (continued)** | **Food (continued)** | **Food (continued)** |
| &nbsp;&nbsp;&nbsp;Performance Food Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 08/01/2029\* | $480000 | &nbsp;&nbsp;$461489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 10/15/2027\* | &nbsp;&nbsp; 835000 | &nbsp;&nbsp;&nbsp;&nbsp; 833716 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4914601 |
| **Forest Products & Paper — 0.4%** | **Forest Products & Paper — 0.4%** | **Forest Products & Paper — 0.4%** |
| &nbsp;&nbsp;&nbsp;Magnera Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 11/15/2029\* | &nbsp;&nbsp;1185000 | &nbsp;&nbsp;&nbsp;&nbsp; 1047348 |
| **Gas — 0.5%** | **Gas — 0.5%** | **Gas — 0.5%** |
| &nbsp;&nbsp;&nbsp;Venture Global Plaquemines LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 05/01/2033\* | &nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp; 194390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 05/01/2035\* | &nbsp;&nbsp;1035000 | &nbsp;&nbsp;&nbsp;&nbsp; 1134843 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1329233 |
| **Healthcare-Products — 1.2%** | **Healthcare-Products — 1.2%** | **Healthcare-Products — 1.2%** |
| &nbsp;&nbsp;&nbsp;Insulet Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 04/01/2033\* | &nbsp;&nbsp; 890000 | &nbsp;&nbsp;&nbsp;&nbsp; 914852 |
| &nbsp;&nbsp;&nbsp;Medline Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 04/01/2029\* | &nbsp;&nbsp;1391000 | &nbsp;&nbsp;&nbsp;&nbsp; 1326562 |
| &nbsp;&nbsp;&nbsp;Medline Borrower LP/Medline Co.-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 04/01/2029\* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 382366 |
| &nbsp;&nbsp;&nbsp;Sotera Health Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 06/01/2031\* | &nbsp;&nbsp; 633000 | &nbsp;&nbsp;&nbsp;&nbsp; 654821 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3278601 |
| **Healthcare-Services — 2.2%** | **Healthcare-Services — 2.2%** | **Healthcare-Services — 2.2%** |
| &nbsp;&nbsp;&nbsp;Concentra Health Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 07/15/2032\* | &nbsp;&nbsp;1248000 | &nbsp;&nbsp;&nbsp;&nbsp; 1282308 |
| &nbsp;&nbsp;&nbsp;DaVita, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 07/15/2033\* | &nbsp;&nbsp;1225000 | &nbsp;&nbsp;&nbsp;&nbsp; 1263330 |
| &nbsp;&nbsp;&nbsp;LifePoint Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.88%, 08/15/2030\* | &nbsp;&nbsp; 520000 | &nbsp;&nbsp;&nbsp;&nbsp; 560449 |
| &nbsp;&nbsp;&nbsp;Molina Healthcare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 11/15/2030\* | &nbsp;&nbsp;1120000 | &nbsp;&nbsp;&nbsp;&nbsp; 1011330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 01/15/2033\* | &nbsp;&nbsp; 660000 | &nbsp;&nbsp;&nbsp;&nbsp; 651162 |
| &nbsp;&nbsp;&nbsp;Select Medical Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 12/01/2032\* | &nbsp;&nbsp;1045000 | &nbsp;&nbsp;&nbsp;&nbsp; 1042297 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5810876 |
| **Home Builders — 1.0%** | **Home Builders — 1.0%** | **Home Builders — 1.0%** |
| &nbsp;&nbsp;&nbsp;Ashton Woods USA LLC / Ashton Woods Finance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 08/01/2033\* | &nbsp;&nbsp;1315000 | &nbsp;&nbsp;&nbsp;&nbsp; 1312189 |
| &nbsp;&nbsp;&nbsp;Mattamy Group Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 03/01/2030\* | &nbsp;&nbsp; 242000 | &nbsp;&nbsp;&nbsp;&nbsp; 232165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 12/15/2027\* | &nbsp;&nbsp; 958000 | &nbsp;&nbsp;&nbsp;&nbsp; 951116 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2495470 |
| **Insurance — 2.8%** | **Insurance — 2.8%** | **Insurance — 2.8%** |
| &nbsp;&nbsp;&nbsp;Acrisure LLC/Acrisure Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 07/01/2032\* | &nbsp;&nbsp;1304000 | &nbsp;&nbsp;&nbsp;&nbsp; 1320299 |
| &nbsp;&nbsp;&nbsp;Alliant Holdings Intermediate LLC/Alliant Holdings Co.-Issuer |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 10/01/2031\* | &nbsp;&nbsp;1295000 | &nbsp;&nbsp;&nbsp;&nbsp; 1313809 |
| &nbsp;&nbsp;&nbsp;Baldwin Insurance Group Holdings LLC/Baldwin Insurance Group Holdings Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.13%, 05/15/2031\* | &nbsp;&nbsp;1007000 | &nbsp;&nbsp;&nbsp;&nbsp; 1039692 |
| &nbsp;&nbsp;&nbsp;Howden UK Refinance PLC/Howden UK Refinance 2 PLC/Howden US Refinance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 02/15/2031\* | &nbsp;&nbsp;1210000 | &nbsp;&nbsp;&nbsp;&nbsp; 1252934 |
| &nbsp;&nbsp;&nbsp;Jones Deslauriers Insurance Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 03/15/2030\* | &nbsp;&nbsp;1135000 | &nbsp;&nbsp;&nbsp;&nbsp; 1197480 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PineBridge High-Yield Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| &nbsp;&nbsp;&nbsp;Panther Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.13%, 06/01/2031\* | $1250000 | &nbsp;&nbsp;$1292622 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7416836 |
| **Internet — 2.2%** | **Internet — 2.2%** | **Internet — 2.2%** |
| &nbsp;&nbsp;&nbsp;Cogent Communications Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 06/15/2027\* | &nbsp;&nbsp; 740000 | &nbsp;&nbsp;&nbsp;&nbsp; 740708 |
| &nbsp;&nbsp;&nbsp;Cogent Communications Group, Inc./Cogent Communications Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 06/15/2027\* | &nbsp;&nbsp; 633000 | &nbsp;&nbsp;&nbsp;&nbsp; 634425 |
| &nbsp;&nbsp;&nbsp;Gen Digital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 04/01/2033\* | &nbsp;&nbsp; 295000 | &nbsp;&nbsp;&nbsp;&nbsp; 300746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 09/30/2027\* | &nbsp;&nbsp; 437000 | &nbsp;&nbsp;&nbsp;&nbsp; 444180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.13%, 09/30/2030\* | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp; 284202 |
| &nbsp;&nbsp;&nbsp;GrubHub Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 07/01/2027\* | &nbsp;&nbsp;1389000 | &nbsp;&nbsp;&nbsp;&nbsp; 1359530 |
| &nbsp;&nbsp;&nbsp;ION Trading Technologies SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 05/15/2028\* | &nbsp;&nbsp;1110000 | &nbsp;&nbsp;&nbsp;&nbsp; 1073462 |
| &nbsp;&nbsp;&nbsp;Match Group Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 10/01/2031\* | &nbsp;&nbsp; 289000 | &nbsp;&nbsp;&nbsp;&nbsp; 258594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 08/01/2030\* | &nbsp;&nbsp; 842000 | &nbsp;&nbsp;&nbsp;&nbsp; 785267 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5881114 |
| **Investment Companies — 0.1%** | **Investment Companies — 0.1%** | **Investment Companies — 0.1%** |
| &nbsp;&nbsp;&nbsp;HAT Holdings I LLC/HAT Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 06/15/2026\* | &nbsp;&nbsp; 309000 | &nbsp;&nbsp;&nbsp;&nbsp; 303107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 06/15/2027\* | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 77679 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380786 |
| **Iron/Steel — 2.8%** | **Iron/Steel — 2.8%** | **Iron/Steel — 2.8%** |
| &nbsp;&nbsp;&nbsp;ATI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 10/01/2029 | &nbsp;&nbsp; 734000 | &nbsp;&nbsp;&nbsp;&nbsp; 717664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 10/01/2031 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 582439 |
| &nbsp;&nbsp;&nbsp;Cleveland-Cliffs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 06/01/2027 | &nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp;&nbsp; 290212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 10/01/2040 | &nbsp;&nbsp; 238000 | &nbsp;&nbsp;&nbsp;&nbsp; 191608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 03/15/2032\* | &nbsp;&nbsp;1255000 | &nbsp;&nbsp;&nbsp;&nbsp; 1224390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 05/01/2033\* | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 340747 |
| &nbsp;&nbsp;&nbsp;Commercial Metals Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 02/15/2031 | &nbsp;&nbsp;1210000 | &nbsp;&nbsp;&nbsp;&nbsp; 1114298 |
| &nbsp;&nbsp;&nbsp;Mineral Resources, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.13%, 05/01/2027\* | &nbsp;&nbsp;1028000 | &nbsp;&nbsp;&nbsp;&nbsp; 1031028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 05/01/2030\* | &nbsp;&nbsp; 371000 | &nbsp;&nbsp;&nbsp;&nbsp; 379770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.25%, 10/01/2028\* | &nbsp;&nbsp;1341000 | &nbsp;&nbsp;&nbsp;&nbsp; 1401549 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7273705 |
| **Leisure Time — 2.9%** | **Leisure Time — 2.9%** | **Leisure Time — 2.9%** |
| &nbsp;&nbsp;&nbsp;Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 03/01/2027\* | &nbsp;&nbsp; 166000 | &nbsp;&nbsp;&nbsp;&nbsp; 167656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 08/01/2032\* | &nbsp;&nbsp;1410000 | &nbsp;&nbsp;&nbsp;&nbsp; 1419546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 05/01/2029\* | &nbsp;&nbsp;1133000 | &nbsp;&nbsp;&nbsp;&nbsp; 1143047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 02/15/2033\* | &nbsp;&nbsp; 405000 | &nbsp;&nbsp;&nbsp;&nbsp; 412185 |
| &nbsp;&nbsp;&nbsp;NCL Corp., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 02/01/2032\* | &nbsp;&nbsp;1165000 | &nbsp;&nbsp;&nbsp;&nbsp; 1196595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 02/15/2029\* | &nbsp;&nbsp;1304000 | &nbsp;&nbsp;&nbsp;&nbsp; 1383329 |
| &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 04/01/2028\* | &nbsp;&nbsp; 319000 | &nbsp;&nbsp;&nbsp;&nbsp; 322585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 02/01/2033\* | &nbsp;&nbsp;1605000 | &nbsp;&nbsp;&nbsp;&nbsp; 1631488 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7676431 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Lodging — 2.1%** | **Lodging — 2.1%** | **Lodging — 2.1%** |
| &nbsp;&nbsp;&nbsp;Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Escrow, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 07/01/2031\* | $1842000 | &nbsp;&nbsp;$1693632 |
| &nbsp;&nbsp;&nbsp;Melco Resorts Finance, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 12/04/2029\* | &nbsp;&nbsp;1032000 | &nbsp;&nbsp;&nbsp;&nbsp; 984085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 07/21/2028\* | &nbsp;&nbsp; 304000 | &nbsp;&nbsp;&nbsp;&nbsp; 297644 |
| &nbsp;&nbsp;&nbsp;Station Casinos LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 03/15/2032\* | &nbsp;&nbsp;1534000 | &nbsp;&nbsp;&nbsp;&nbsp; 1564249 |
| &nbsp;&nbsp;&nbsp;Travel & Leisure Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 12/01/2029\* | &nbsp;&nbsp; 52000 | &nbsp;&nbsp;&nbsp;&nbsp; 49930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 04/01/2027 | &nbsp;&nbsp; 859000 | &nbsp;&nbsp;&nbsp;&nbsp; 865561 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5455101 |
| **Media — 6.0%** | **Media — 6.0%** | **Media — 6.0%** |
| &nbsp;&nbsp;&nbsp;Belo Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 09/15/2027 | &nbsp;&nbsp; 422000 | &nbsp;&nbsp;&nbsp;&nbsp; 434927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 06/01/2027 | &nbsp;&nbsp; 984000 | &nbsp;&nbsp;&nbsp;&nbsp; 1017721 |
| &nbsp;&nbsp;&nbsp;Cable One, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/15/2030\* | &nbsp;&nbsp;1568000 | &nbsp;&nbsp;&nbsp;&nbsp; 1207421 |
| &nbsp;&nbsp;&nbsp;CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 01/15/2034\* | &nbsp;&nbsp;1390000 | &nbsp;&nbsp;&nbsp;&nbsp; 1197697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/01/2028\* | &nbsp;&nbsp;1161000 | &nbsp;&nbsp;&nbsp;&nbsp; 1139267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 06/01/2029\* | &nbsp;&nbsp; 873000 | &nbsp;&nbsp;&nbsp;&nbsp; 857444 |
| &nbsp;&nbsp;&nbsp;CSC Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 12/01/2030\* | &nbsp;&nbsp; 695000 | &nbsp;&nbsp;&nbsp;&nbsp; 467207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 11/15/2031\* | &nbsp;&nbsp; 206000 | &nbsp;&nbsp;&nbsp;&nbsp; 137231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 04/15/2027\* | &nbsp;&nbsp; 205000 | &nbsp;&nbsp;&nbsp;&nbsp; 198423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 01/15/2030\* | &nbsp;&nbsp; 986000 | &nbsp;&nbsp;&nbsp;&nbsp; 486135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.75%, 01/31/2029\* | &nbsp;&nbsp; 340000 | &nbsp;&nbsp;&nbsp;&nbsp; 318032 |
| &nbsp;&nbsp;&nbsp;Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 02/28/2057 | &nbsp;&nbsp; 794000 | &nbsp;&nbsp;&nbsp;&nbsp; 765217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 03/30/2062 | &nbsp;&nbsp; 830000 | &nbsp;&nbsp;&nbsp;&nbsp; 817548 |
| &nbsp;&nbsp;&nbsp;Sirius XM Radio, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 09/01/2031\* | &nbsp;&nbsp; 478000 | &nbsp;&nbsp;&nbsp;&nbsp; 421703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 07/15/2028\* | &nbsp;&nbsp;2031000 | &nbsp;&nbsp;&nbsp;&nbsp; 1933080 |
| &nbsp;&nbsp;&nbsp;Sunrise FinCo I BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 07/15/2031\* | &nbsp;&nbsp;1670000 | &nbsp;&nbsp;&nbsp;&nbsp; 1574142 |
| &nbsp;&nbsp;&nbsp;Univision Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 06/30/2030\* | &nbsp;&nbsp; 424000 | &nbsp;&nbsp;&nbsp;&nbsp; 421672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 07/31/2031\* | &nbsp;&nbsp;1005000 | &nbsp;&nbsp;&nbsp;&nbsp; 1020648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.38%, 08/01/2032\* | &nbsp;&nbsp; 565000 | &nbsp;&nbsp;&nbsp;&nbsp; 586245 |
| &nbsp;&nbsp;&nbsp;Virgin Media Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/15/2030\* | &nbsp;&nbsp; 815000 | &nbsp;&nbsp;&nbsp;&nbsp; 734668 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;15736428 |
| **Mining — 1.4%** | **Mining — 1.4%** | **Mining — 1.4%** |
| &nbsp;&nbsp;&nbsp;Capstone Copper Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 03/31/2033\* | &nbsp;&nbsp; 893000 | &nbsp;&nbsp;&nbsp;&nbsp; 910099 |
| &nbsp;&nbsp;&nbsp;FMG Resources August 2006 Pty, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 04/01/2031\* | &nbsp;&nbsp;2250000 | &nbsp;&nbsp;&nbsp;&nbsp; 2108027 |
| &nbsp;&nbsp;&nbsp;Hudbay Minerals, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 04/01/2029\* | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 754193 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3772319 |
| **Oil & Gas — 6.2%** | **Oil & Gas — 6.2%** | **Oil & Gas — 6.2%** |
| &nbsp;&nbsp;&nbsp;Atlas Sand Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/31/2026(3)(4) | &nbsp;&nbsp; 197913 | &nbsp;&nbsp;&nbsp;&nbsp; 192965 |
| &nbsp;&nbsp;&nbsp;Baytex Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 03/15/2032\* | &nbsp;&nbsp;1239000 | &nbsp;&nbsp;&nbsp;&nbsp; 1198192 |
| &nbsp;&nbsp;&nbsp;Civitas Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.63%, 11/01/2030\* | &nbsp;&nbsp; 735000 | &nbsp;&nbsp;&nbsp;&nbsp; 749873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.63%, 06/15/2033\* | &nbsp;&nbsp; 570000 | &nbsp;&nbsp;&nbsp;&nbsp; 586290 |
| &nbsp;&nbsp;&nbsp;Comstock Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 01/15/2030\* | &nbsp;&nbsp; 498000 | &nbsp;&nbsp;&nbsp;&nbsp; 470104 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PineBridge High-Yield Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 03/01/2029\* | $558000 | &nbsp;&nbsp;$551694 |
| &nbsp;&nbsp;&nbsp;Crescent Energy Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 01/15/2033\* | &nbsp;&nbsp; 585000 | &nbsp;&nbsp;&nbsp;&nbsp; 559654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.63%, 04/01/2032\* | &nbsp;&nbsp; 662000 | &nbsp;&nbsp;&nbsp;&nbsp; 646912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.38%, 01/15/2034\* | &nbsp;&nbsp; 380000 | &nbsp;&nbsp;&nbsp;&nbsp; 376107 |
| &nbsp;&nbsp;&nbsp;Hilcorp Energy I LP/Hilcorp Finance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 02/01/2029\* | &nbsp;&nbsp; 308000 | &nbsp;&nbsp;&nbsp;&nbsp; 302544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 02/01/2031\* | &nbsp;&nbsp;1165000 | &nbsp;&nbsp;&nbsp;&nbsp; 1122212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 04/15/2032\* | &nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp; 259195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 02/15/2035\* | &nbsp;&nbsp; 640000 | &nbsp;&nbsp;&nbsp;&nbsp; 623723 |
| &nbsp;&nbsp;&nbsp;Nabors Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 05/15/2027\* | &nbsp;&nbsp; 871000 | &nbsp;&nbsp;&nbsp;&nbsp; 879060 |
| &nbsp;&nbsp;&nbsp;Strathcona Resources, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 08/01/2026\* | &nbsp;&nbsp;2001000 | &nbsp;&nbsp;&nbsp;&nbsp; 2003505 |
| &nbsp;&nbsp;&nbsp;Sunoco LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 05/01/2032\* | &nbsp;&nbsp; 865000 | &nbsp;&nbsp;&nbsp;&nbsp; 906516 |
| &nbsp;&nbsp;&nbsp;Talos Production, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.38%, 02/01/2031\* | &nbsp;&nbsp;1167000 | &nbsp;&nbsp;&nbsp;&nbsp; 1190006 |
| &nbsp;&nbsp;&nbsp;Valaris, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.38%, 04/30/2030\* | &nbsp;&nbsp;1222000 | &nbsp;&nbsp;&nbsp;&nbsp; 1262192 |
| &nbsp;&nbsp;&nbsp;Vital Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 04/15/2032\* | &nbsp;&nbsp;1535000 | &nbsp;&nbsp;&nbsp;&nbsp; 1347287 |
| &nbsp;&nbsp;&nbsp;Wildfire Intermediate Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 10/15/2029\* | &nbsp;&nbsp;1065000 | &nbsp;&nbsp;&nbsp;&nbsp; 1059718 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;16287749 |
| **Oil & Gas Services — 1.4%** | **Oil & Gas Services — 1.4%** | **Oil & Gas Services — 1.4%** |
| &nbsp;&nbsp;&nbsp;Archrock Partners LP/Archrock Partners Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 04/01/2028\* | &nbsp;&nbsp; 281000 | &nbsp;&nbsp;&nbsp;&nbsp; 280984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 09/01/2032\* | &nbsp;&nbsp; 830000 | &nbsp;&nbsp;&nbsp;&nbsp; 842306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 04/01/2027\* | &nbsp;&nbsp; 257000 | &nbsp;&nbsp;&nbsp;&nbsp; 257140 |
| &nbsp;&nbsp;&nbsp;Kodiak Gas Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 02/15/2029\* | &nbsp;&nbsp;1255000 | &nbsp;&nbsp;&nbsp;&nbsp; 1285297 |
| &nbsp;&nbsp;&nbsp;Weatherford International, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.63%, 04/30/2030\* | &nbsp;&nbsp; 998000 | &nbsp;&nbsp;&nbsp;&nbsp; 1025257 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3690984 |
| **Packaging & Containers — 2.6%** | **Packaging & Containers — 2.6%** | **Packaging & Containers — 2.6%** |
| &nbsp;&nbsp;&nbsp;Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 09/01/2028\* | &nbsp;&nbsp;1446000 | &nbsp;&nbsp;&nbsp;&nbsp; 1363391 |
| &nbsp;&nbsp;&nbsp;Clydesdale Acquisition Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 04/15/2032\* | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 245834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 04/15/2030\* | &nbsp;&nbsp;1287000 | &nbsp;&nbsp;&nbsp;&nbsp; 1313484 |
| &nbsp;&nbsp;&nbsp;Crown Americas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 04/01/2030 | &nbsp;&nbsp; 770000 | &nbsp;&nbsp;&nbsp;&nbsp; 778401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 06/01/2033\* | &nbsp;&nbsp; 520000 | &nbsp;&nbsp;&nbsp;&nbsp; 520966 |
| &nbsp;&nbsp;&nbsp;Iris Holding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.00%, 12/15/2028\* | &nbsp;&nbsp;1310000 | &nbsp;&nbsp;&nbsp;&nbsp; 1217687 |
| &nbsp;&nbsp;&nbsp;Mauser Packaging Solutions Holding Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 08/15/2026\* | &nbsp;&nbsp; 73000 | &nbsp;&nbsp;&nbsp;&nbsp; 72616 |
| &nbsp;&nbsp;&nbsp;Silgan Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 02/01/2028 | &nbsp;&nbsp;1241000 | &nbsp;&nbsp;&nbsp;&nbsp; 1205405 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6717784 |
| **Pharmaceuticals — 2.7%** | **Pharmaceuticals — 2.7%** | **Pharmaceuticals — 2.7%** |
| &nbsp;&nbsp;&nbsp;HLF Financing Sarl LLC/Herbalife International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 06/01/2029\* | &nbsp;&nbsp;1605000 | &nbsp;&nbsp;&nbsp;&nbsp; 1337556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.25%, 04/15/2029\* | &nbsp;&nbsp;1445000 | &nbsp;&nbsp;&nbsp;&nbsp; 1565949 |
| &nbsp;&nbsp;&nbsp;Organon & Co./Organon Foreign Debt Co.-Issuer BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 04/30/2031\* | &nbsp;&nbsp;1565000 | &nbsp;&nbsp;&nbsp;&nbsp; 1353906 |
| &nbsp;&nbsp;&nbsp;Teva Pharmaceutical Finance Netherlands III BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 05/09/2029 | &nbsp;&nbsp; 395000 | &nbsp;&nbsp;&nbsp;&nbsp; 394867 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 12/01/2032 | $625000 | &nbsp;&nbsp;$636502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 09/15/2029 | &nbsp;&nbsp;1042000 | &nbsp;&nbsp;&nbsp;&nbsp; 1136270 |
| &nbsp;&nbsp;&nbsp;Teva Pharmaceutical Finance Netherlands IV BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 12/01/2030 | &nbsp;&nbsp; 625000 | &nbsp;&nbsp;&nbsp;&nbsp; 634117 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7059167 |
| **Pipelines — 6.4%** | **Pipelines — 6.4%** | **Pipelines — 6.4%** |
| &nbsp;&nbsp;&nbsp;Antero Midstream Partners LP/Antero Midstream Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 01/15/2028\* | &nbsp;&nbsp; 991000 | &nbsp;&nbsp;&nbsp;&nbsp; 989473 |
| &nbsp;&nbsp;&nbsp;Delek Logistics Partners LP/Delek Logistics Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 06/30/2033\* | &nbsp;&nbsp; 980000 | &nbsp;&nbsp;&nbsp;&nbsp; 968763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.63%, 03/15/2029\* | &nbsp;&nbsp; 786000 | &nbsp;&nbsp;&nbsp;&nbsp; 817997 |
| &nbsp;&nbsp;&nbsp;Excelerate Energy LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 05/15/2030\* | &nbsp;&nbsp;1220000 | &nbsp;&nbsp;&nbsp;&nbsp; 1277159 |
| &nbsp;&nbsp;&nbsp;Genesis Energy LP/Genesis Energy Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 05/15/2032 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 465391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 05/15/2033 | &nbsp;&nbsp; 395000 | &nbsp;&nbsp;&nbsp;&nbsp; 409519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.88%, 04/15/2030 | &nbsp;&nbsp;1177000 | &nbsp;&nbsp;&nbsp;&nbsp; 1245956 |
| &nbsp;&nbsp;&nbsp;Harvest Midstream I LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 09/01/2028\* | &nbsp;&nbsp;1978000 | &nbsp;&nbsp;&nbsp;&nbsp; 2002074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 05/15/2032\* | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 675632 |
| &nbsp;&nbsp;&nbsp;Howard Midstream Energy Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 07/15/2032\* | &nbsp;&nbsp; 655000 | &nbsp;&nbsp;&nbsp;&nbsp; 677218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.88%, 07/15/2028\* | &nbsp;&nbsp; 594000 | &nbsp;&nbsp;&nbsp;&nbsp; 619358 |
| &nbsp;&nbsp;&nbsp;ITT Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 08/01/2029\* | &nbsp;&nbsp;2280000 | &nbsp;&nbsp;&nbsp;&nbsp; 2171720 |
| &nbsp;&nbsp;&nbsp;NGL Energy Operating LLC/NGL Energy Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.13%, 02/15/2029\* | &nbsp;&nbsp; 769000 | &nbsp;&nbsp;&nbsp;&nbsp; 760985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.38%, 02/15/2032\* | &nbsp;&nbsp; 808000 | &nbsp;&nbsp;&nbsp;&nbsp; 790387 |
| &nbsp;&nbsp;&nbsp;NuStar Logistics LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 10/01/2030 | &nbsp;&nbsp; 367000 | &nbsp;&nbsp;&nbsp;&nbsp; 378082 |
| &nbsp;&nbsp;&nbsp;Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.38%, 06/01/2031\* | &nbsp;&nbsp;2393000 | &nbsp;&nbsp;&nbsp;&nbsp; 2475219 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;16724933 |
| **Real Estate — 1.4%** | **Real Estate — 1.4%** | **Real Estate — 1.4%** |
| &nbsp;&nbsp;&nbsp;Cushman & Wakefield US Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 05/15/2028\* | &nbsp;&nbsp;1238000 | &nbsp;&nbsp;&nbsp;&nbsp; 1247395 |
| &nbsp;&nbsp;&nbsp;Greystar Real Estate Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 09/01/2030\* | &nbsp;&nbsp; 748000 | &nbsp;&nbsp;&nbsp;&nbsp; 790782 |
| &nbsp;&nbsp;&nbsp;Kennedy-Wilson, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 03/01/2029 | &nbsp;&nbsp;1709000 | &nbsp;&nbsp;&nbsp;&nbsp; 1607227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 02/01/2030 | &nbsp;&nbsp; 78000 | &nbsp;&nbsp;&nbsp;&nbsp; 71870 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3717274 |
| **REITS — 3.4%** | **REITS — 3.4%** | **REITS — 3.4%** |
| &nbsp;&nbsp;&nbsp;Apollo Commercial Real Estate Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 06/15/2029\* | &nbsp;&nbsp;1900000 | &nbsp;&nbsp;&nbsp;&nbsp; 1804653 |
| &nbsp;&nbsp;&nbsp;Arbor Realty SR, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 07/15/2030\* | &nbsp;&nbsp;1685000 | &nbsp;&nbsp;&nbsp;&nbsp; 1720714 |
| &nbsp;&nbsp;&nbsp;Blackstone Mtg. Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 12/01/2029\* | &nbsp;&nbsp; 929000 | &nbsp;&nbsp;&nbsp;&nbsp; 982034 |
| &nbsp;&nbsp;&nbsp;Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 02/01/2027\* | &nbsp;&nbsp; 995000 | &nbsp;&nbsp;&nbsp;&nbsp; 976619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 06/15/2029\* | &nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 412597 |
| &nbsp;&nbsp;&nbsp;Service Properties Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 10/01/2026 | &nbsp;&nbsp; 369000 | &nbsp;&nbsp;&nbsp;&nbsp; 362089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 12/15/2027 | &nbsp;&nbsp; 631000 | &nbsp;&nbsp;&nbsp;&nbsp; 622282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.38%, 06/15/2029 | &nbsp;&nbsp; 590000 | &nbsp;&nbsp;&nbsp;&nbsp; 611354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.88%, 06/15/2032 | &nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 266637 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PineBridge High-Yield Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **REITS (continued)** | **REITS (continued)** | **REITS (continued)** |
| &nbsp;&nbsp;&nbsp;Starwood Property Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 07/01/2030\* | $1025000 | &nbsp;&nbsp;$1054293 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8813272 |
| **Retail — 4.5%** | **Retail — 4.5%** | **Retail — 4.5%** |
| &nbsp;&nbsp;&nbsp;Brinker International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 07/15/2030\* | &nbsp;&nbsp;1039000 | &nbsp;&nbsp;&nbsp;&nbsp; 1102142 |
| &nbsp;&nbsp;&nbsp;CEC Entertainment LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 05/01/2026\* | &nbsp;&nbsp;1899000 | &nbsp;&nbsp;&nbsp;&nbsp; 1885121 |
| &nbsp;&nbsp;&nbsp;FirstCash, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 09/01/2028\* | &nbsp;&nbsp;1240000 | &nbsp;&nbsp;&nbsp;&nbsp; 1212348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 01/01/2030\* | &nbsp;&nbsp; 32000 | &nbsp;&nbsp;&nbsp;&nbsp; 31669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 03/01/2032\* | &nbsp;&nbsp; 68000 | &nbsp;&nbsp;&nbsp;&nbsp; 69707 |
| &nbsp;&nbsp;&nbsp;Kohl's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 05/01/2031 | &nbsp;&nbsp;2812000 | &nbsp;&nbsp;&nbsp;&nbsp; 2025656 |
| &nbsp;&nbsp;&nbsp;LBM Acquisition LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 01/15/2029\* | &nbsp;&nbsp;1295000 | &nbsp;&nbsp;&nbsp;&nbsp; 1136362 |
| &nbsp;&nbsp;&nbsp;Murphy Oil USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 09/15/2029 | &nbsp;&nbsp;1190000 | &nbsp;&nbsp;&nbsp;&nbsp; 1163533 |
| &nbsp;&nbsp;&nbsp;Park River Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 08/01/2029\* | &nbsp;&nbsp;1506000 | &nbsp;&nbsp;&nbsp;&nbsp; 1314650 |
| &nbsp;&nbsp;&nbsp;QXO Building Products, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 04/30/2032\* | &nbsp;&nbsp; 741000 | &nbsp;&nbsp;&nbsp;&nbsp; 763063 |
| &nbsp;&nbsp;&nbsp;Raising Cane's Restaurants LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.38%, 05/01/2029\* | &nbsp;&nbsp; 956000 | &nbsp;&nbsp;&nbsp;&nbsp; 1008691 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11712942 |
| **Semiconductors — 0.4%** | **Semiconductors — 0.4%** | **Semiconductors — 0.4%** |
| &nbsp;&nbsp;&nbsp;Entegris, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 06/15/2030\* | &nbsp;&nbsp;1030000 | &nbsp;&nbsp;&nbsp;&nbsp; 1039227 |
| **Software — 2.3%** | **Software — 2.3%** | **Software — 2.3%** |
| &nbsp;&nbsp;&nbsp;Capstone Borrower, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 06/15/2030\* | &nbsp;&nbsp;1365000 | &nbsp;&nbsp;&nbsp;&nbsp; 1418536 |
| &nbsp;&nbsp;&nbsp;Cloud Software Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 03/31/2029\* | &nbsp;&nbsp;1267000 | &nbsp;&nbsp;&nbsp;&nbsp; 1279524 |
| &nbsp;&nbsp;&nbsp;Helios Software Holdings, Inc./ION Corporate Solutions Finance Sarl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 05/01/2028\* | &nbsp;&nbsp;1350000 | &nbsp;&nbsp;&nbsp;&nbsp; 1276205 |
| &nbsp;&nbsp;&nbsp;Open Text Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 12/01/2029\* | &nbsp;&nbsp;1015000 | &nbsp;&nbsp;&nbsp;&nbsp; 950084 |
| &nbsp;&nbsp;&nbsp;Rackspace Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 05/15/2028\* | &nbsp;&nbsp;2087700 | &nbsp;&nbsp;&nbsp;&nbsp; 986438 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5910787 |
| **Telecommunications — 6.4%** | **Telecommunications — 6.4%** | **Telecommunications — 6.4%** |
| &nbsp;&nbsp;&nbsp;Altice Financing SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/15/2028\* | &nbsp;&nbsp;2423000 | &nbsp;&nbsp;&nbsp;&nbsp; 1941936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 08/15/2029\* | &nbsp;&nbsp;1518000 | &nbsp;&nbsp;&nbsp;&nbsp; 1162608 |
| &nbsp;&nbsp;&nbsp;Bell Telephone Co. of Canada or Bell Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 09/15/2055 | &nbsp;&nbsp; 838000 | &nbsp;&nbsp;&nbsp;&nbsp; 852592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 09/15/2055 | &nbsp;&nbsp; 635000 | &nbsp;&nbsp;&nbsp;&nbsp; 644455 |
| &nbsp;&nbsp;&nbsp;C&W Senior Finance, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 01/15/2033\* | &nbsp;&nbsp; 910000 | &nbsp;&nbsp;&nbsp;&nbsp; 938104 |
| &nbsp;&nbsp;&nbsp;Connect Finco SARL/Connect US Finco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 09/15/2029\* | &nbsp;&nbsp;1410000 | &nbsp;&nbsp;&nbsp;&nbsp; 1423834 |
| &nbsp;&nbsp;&nbsp;Iliad Holding SASU |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 04/15/2032\* | &nbsp;&nbsp;1225000 | &nbsp;&nbsp;&nbsp;&nbsp; 1257326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.50%, 04/15/2031\* | &nbsp;&nbsp;1254000 | &nbsp;&nbsp;&nbsp;&nbsp; 1345142 |
| &nbsp;&nbsp;&nbsp;Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 04/15/2055 | &nbsp;&nbsp; 504000 | &nbsp;&nbsp;&nbsp;&nbsp; 515275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.13%, 04/15/2055 | &nbsp;&nbsp; 755000 | &nbsp;&nbsp;&nbsp;&nbsp; 772594 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Telecommunications (continued)** | **Telecommunications (continued)** |  |
| &nbsp;&nbsp;&nbsp;Sable International Finance, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.13%, 10/15/2032\* | $1331000 | &nbsp;&nbsp;$1331051 |
| &nbsp;&nbsp;&nbsp;Telesat Canada/Telesat LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 06/01/2027\* | &nbsp;&nbsp;1135000 | &nbsp;&nbsp;&nbsp;&nbsp; 700862 |
| &nbsp;&nbsp;&nbsp;Viasat, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 05/30/2031\* | &nbsp;&nbsp;1258000 | &nbsp;&nbsp;&nbsp;&nbsp; 1095350 |
| &nbsp;&nbsp;&nbsp;Vmed O2 UK Financing I PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 04/15/2032\* | &nbsp;&nbsp;1444000 | &nbsp;&nbsp;&nbsp;&nbsp; 1504222 |
| &nbsp;&nbsp;&nbsp;Zayo Group Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 03/01/2028\* | &nbsp;&nbsp;1470000 | &nbsp;&nbsp;&nbsp;&nbsp; 1328359 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;16813710 |
| **Transportation — 1.0%** | **Transportation — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;Star Leasing Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.63%, 02/15/2030\* | &nbsp;&nbsp;1276000 | &nbsp;&nbsp;&nbsp;&nbsp; 1258591 |
| &nbsp;&nbsp;&nbsp;Stonepeak Nile Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 03/15/2032\* | &nbsp;&nbsp;1293000 | &nbsp;&nbsp;&nbsp;&nbsp; 1358093 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2616684 |
| **Total Corporate Bonds & Notes<br> (cost $252,218,570)** |  | &nbsp;&nbsp;&nbsp;&nbsp;251764394 |
| **COMMON STOCKS — 0.3%** | **COMMON STOCKS — 0.3%** |  |
| **Oil Field Machinery & Equipment — 0.3%** | **Oil Field Machinery & Equipment — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;Hi-Crush, Inc.(3)(5)<br> (cost $494,782) | &nbsp;&nbsp; 142 | &nbsp;&nbsp;&nbsp;&nbsp; 809968 |
| **Total Long-Term Investment Securities<br> (cost $252,713,352)** |  | &nbsp;&nbsp;&nbsp;&nbsp;252574362 |
| **SHORT-TERM INVESTMENTS — 2.3%** | **SHORT-TERM INVESTMENTS — 2.3%** |  |
| **Unaffiliated Investment Companies — 2.3%** | **Unaffiliated Investment Companies — 2.3%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(6)<br> (cost $6,035,541) | &nbsp;&nbsp;6035541 | &nbsp;&nbsp;&nbsp;&nbsp; 6035541 |
| **TOTAL INVESTMENTS<br> (cost $258,748,893)(7)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98.5% | &nbsp;&nbsp;&nbsp;&nbsp;258609903 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3908405 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$262518308 |

---

\* Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The SA PineBridge High-Yield Bond Portfolio has no right to demand registration of these securities. At July 31, 2025, the aggregate value of these securities was $221,550,142 representing 84.4% of net assets.

(1) Security currently paying interest/dividends in the form of additional securities.

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

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

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PineBridge High-Yield Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

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

(5) Denotes a restricted security that: (a) cannot be offered for public sale without first being registered, or being able to take advantage of an exemption from
registration, under the Securities Act of 1933, as amended (the "1933 Act"); (b) is subject to a contractual restriction on public sales; or (c) is otherwise subject to a restriction on sales by operation
of applicable law. Restricted securities are valued pursuant to Note 2. Certain restricted securities held by the Portfolio may not be sold except in exempt transactions or in a public offering registered
under the 1933 Act. The Portfolio has no right to demand registration of these securities. The risk of investing in certain restricted securities is greater than the risk of investing in the securities of widely held,
publicly traded companies. To the extent applicable, lack of a secondary market and resale restrictions may result in the inability of a Portfolio to sell a security at a fair price and may substantially delay the
sale of the security. In addition, certain restricted securities may exhibit greater price volatility than securities for which secondary markets exist. As of July 31, 2025, the Portfolio held the following restricted
securities:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition<br> Date** | **Shares or<br> Principal<br> Amount** | **Acquisition<br> Cost** | **Value** | **Value<br> Per Share** | **% of<br> Net Assets** |
| **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** |
| Hi-Crush, Inc. | 03/13/2024 | 142 | $494782 | $809968 | $5704.00 | 0.3% |

---

(6) The rate shown is the 7-day yield as of July 31, 2025.

(7) See Note 4 for cost of investments on a tax basis.

DAC—Designated Activity Company

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Corporate Bonds & Notes: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Oil & Gas | &nbsp;&nbsp;$— | &nbsp;&nbsp;$16094784 | &nbsp;&nbsp;$192965 | &nbsp;&nbsp;$16287749 |
| &nbsp;&nbsp;&nbsp;Other Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;235476645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;235476645 |
| Common Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;809968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;809968 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;6035541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6035541 |
| **Total Investments at Value** | &nbsp;&nbsp;$6035541 | &nbsp;&nbsp;$251571429 | &nbsp;&nbsp;$1002933 | &nbsp;&nbsp;$258609903 |

---

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

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

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**Corporate Bonds & Notes** | &nbsp;&nbsp;&nbsp;&nbsp;**Common Stocks** |
| Balance as of January 31, 2025 | &nbsp;&nbsp;$2089284 | &nbsp;&nbsp;&nbsp;&nbsp;$812666 |
| Accrued Discounts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Accrued Premiums | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Realized Gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Realized Loss | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Change in unrealized appreciation(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(90343) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2698) |
| Change in unrealized depreciation(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net purchases | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net sales | &nbsp;&nbsp;&nbsp;&nbsp;(2003910) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Transfers into Level 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Transfers out of Level 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Balance as of July 31, 2025 | &nbsp;&nbsp;$192965 | &nbsp;&nbsp;&nbsp;&nbsp;$809968 |

---

(1) The total change in unrealized appreciation (depreciation) attributable to Level 3 investments still held at July 31, 2025 includes:

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Corporate Bonds & Notes** | &nbsp;&nbsp;&nbsp;&nbsp;**Common Stocks** |
| &nbsp;&nbsp;$6135 | &nbsp;&nbsp;&nbsp;&nbsp;$(2698) |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA PineBridge High-Yield Bond Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

Any differences between the change in appreciation (depreciation) in the Level 3 reconciliation and the total change in unrealized appreciation (depreciation) is attributable to securities sold/no longer held at July 31, 2025.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Putnam International Value Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 98.2%** | **COMMON STOCKS — 98.2%** | **COMMON STOCKS — 98.2%** |
| **Australia — 7.3%** | **Australia — 7.3%** | **Australia — 7.3%** |
| &nbsp;&nbsp;&nbsp;ANZ Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;217229 | &nbsp;&nbsp;$4288580 |
| &nbsp;&nbsp;&nbsp;Mirvac Group | 1644202 | &nbsp;&nbsp;&nbsp;&nbsp; 2377454 |
| &nbsp;&nbsp;&nbsp;Qantas Airways, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;764099 | &nbsp;&nbsp;&nbsp;&nbsp; 5337694 |
| &nbsp;&nbsp;&nbsp;QBE Insurance Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;494411 | &nbsp;&nbsp;&nbsp;&nbsp; 7371411 |
| &nbsp;&nbsp;&nbsp;Telstra Group, Ltd. | 1359248 | &nbsp;&nbsp;&nbsp;&nbsp; 4341398 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;23716537 |
| **Canada — 1.7%** | **Canada — 1.7%** | **Canada — 1.7%** |
| &nbsp;&nbsp;&nbsp;Cenovus Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;357214 | &nbsp;&nbsp;&nbsp;&nbsp; 5437098 |
| **France — 14.4%** | **France — 14.4%** | **France — 14.4%** |
| &nbsp;&nbsp;&nbsp;Alstom SA† | &nbsp;&nbsp;&nbsp;&nbsp;248894 | &nbsp;&nbsp;&nbsp;&nbsp; 5862538 |
| &nbsp;&nbsp;&nbsp;AXA SA | &nbsp;&nbsp;&nbsp;&nbsp;181377 | &nbsp;&nbsp;&nbsp;&nbsp; 8834220 |
| &nbsp;&nbsp;&nbsp;BNP Paribas SA | &nbsp;&nbsp;&nbsp;&nbsp;110582 | &nbsp;&nbsp;&nbsp;&nbsp; 10103261 |
| &nbsp;&nbsp;&nbsp;Cie de Saint-Gobain SA | &nbsp;&nbsp;&nbsp;&nbsp;46736 | &nbsp;&nbsp;&nbsp;&nbsp; 5349510 |
| &nbsp;&nbsp;&nbsp;Sanofi SA | &nbsp;&nbsp;&nbsp;&nbsp;81348 | &nbsp;&nbsp;&nbsp;&nbsp; 7319056 |
| &nbsp;&nbsp;&nbsp;Thales SA | &nbsp;&nbsp;&nbsp;&nbsp;14467 | &nbsp;&nbsp;&nbsp;&nbsp; 3892995 |
| &nbsp;&nbsp;&nbsp;Veolia Environnement SA | &nbsp;&nbsp;&nbsp;&nbsp;158762 | &nbsp;&nbsp;&nbsp;&nbsp; 5381020 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;46742600 |
| **Germany — 10.1%** | **Germany — 10.1%** | **Germany — 10.1%** |
| &nbsp;&nbsp;&nbsp;Bayer AG | &nbsp;&nbsp;&nbsp;&nbsp;102237 | &nbsp;&nbsp;&nbsp;&nbsp; 3191001 |
| &nbsp;&nbsp;&nbsp;Deutsche Post AG | &nbsp;&nbsp;&nbsp;&nbsp;70008 | &nbsp;&nbsp;&nbsp;&nbsp; 3151783 |
| &nbsp;&nbsp;&nbsp;Deutsche Telekom AG | &nbsp;&nbsp;&nbsp;&nbsp;166324 | &nbsp;&nbsp;&nbsp;&nbsp; 5975183 |
| &nbsp;&nbsp;&nbsp;E.ON SE | &nbsp;&nbsp;&nbsp;&nbsp;306249 | &nbsp;&nbsp;&nbsp;&nbsp; 5576132 |
| &nbsp;&nbsp;&nbsp;LANXESS AG | &nbsp;&nbsp;&nbsp;&nbsp;84321 | &nbsp;&nbsp;&nbsp;&nbsp; 2328695 |
| &nbsp;&nbsp;&nbsp;Muenchener Rueckversicherungs-Gesellschaft AG | &nbsp;&nbsp;&nbsp;&nbsp;10734 | &nbsp;&nbsp;&nbsp;&nbsp; 7050890 |
| &nbsp;&nbsp;&nbsp;Siemens AG | &nbsp;&nbsp;&nbsp;&nbsp;22245 | &nbsp;&nbsp;&nbsp;&nbsp; 5709308 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;32982992 |
| **Ireland — 4.8%** | **Ireland — 4.8%** | **Ireland — 4.8%** |
| &nbsp;&nbsp;&nbsp;AIB Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;718621 | &nbsp;&nbsp;&nbsp;&nbsp; 5699625 |
| &nbsp;&nbsp;&nbsp;Cairn Homes PLC | 1298161 | &nbsp;&nbsp;&nbsp;&nbsp; 3229584 |
| &nbsp;&nbsp;&nbsp;CRH PLC | &nbsp;&nbsp;&nbsp;&nbsp;70410 | &nbsp;&nbsp;&nbsp;&nbsp; 6687622 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;15616831 |
| **Japan — 19.0%** | **Japan — 19.0%** | **Japan — 19.0%** |
| &nbsp;&nbsp;&nbsp;Asahi Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;268700 | &nbsp;&nbsp;&nbsp;&nbsp; 3419332 |
| &nbsp;&nbsp;&nbsp;Asics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;186300 | &nbsp;&nbsp;&nbsp;&nbsp; 4407947 |
| &nbsp;&nbsp;&nbsp;Hoya Corp. | &nbsp;&nbsp;&nbsp;&nbsp;41100 | &nbsp;&nbsp;&nbsp;&nbsp; 5227440 |
| &nbsp;&nbsp;&nbsp;ITOCHU Corp. | &nbsp;&nbsp;&nbsp;&nbsp;68900 | &nbsp;&nbsp;&nbsp;&nbsp; 3624560 |
| &nbsp;&nbsp;&nbsp;KDDI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;183700 | &nbsp;&nbsp;&nbsp;&nbsp; 3027761 |
| &nbsp;&nbsp;&nbsp;MatsukiyoCocokara & Co. | &nbsp;&nbsp;&nbsp;&nbsp;187100 | &nbsp;&nbsp;&nbsp;&nbsp; 3849942 |
| &nbsp;&nbsp;&nbsp;Minebea Mitsumi, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;158200 | &nbsp;&nbsp;&nbsp;&nbsp; 2514625 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Corp. | &nbsp;&nbsp;&nbsp;&nbsp;314700 | &nbsp;&nbsp;&nbsp;&nbsp; 6235568 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;738800 | &nbsp;&nbsp;&nbsp;&nbsp; 10339771 |
| &nbsp;&nbsp;&nbsp;Pan Pacific International Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;53500 | &nbsp;&nbsp;&nbsp;&nbsp; 1798352 |
| &nbsp;&nbsp;&nbsp;Resona Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;384700 | &nbsp;&nbsp;&nbsp;&nbsp; 3543424 |
| &nbsp;&nbsp;&nbsp;Sony Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;157000 | &nbsp;&nbsp;&nbsp;&nbsp; 3833382 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;261700 | &nbsp;&nbsp;&nbsp;&nbsp; 6690010 |
| &nbsp;&nbsp;&nbsp;Yamazaki Baking Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;159700 | &nbsp;&nbsp;&nbsp;&nbsp; 3440751 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;61952865 |
| **Jersey — 1.2%** | **Jersey — 1.2%** | **Jersey — 1.2%** |
| &nbsp;&nbsp;&nbsp;Glencore PLC | &nbsp;&nbsp;&nbsp;&nbsp;999770 | &nbsp;&nbsp;&nbsp;&nbsp; 4023755 |
| **Netherlands — 9.2%** | **Netherlands — 9.2%** | **Netherlands — 9.2%** |
| &nbsp;&nbsp;&nbsp;Airbus SE | &nbsp;&nbsp;&nbsp;&nbsp;20813 | &nbsp;&nbsp;&nbsp;&nbsp; 4181264 |
| &nbsp;&nbsp;&nbsp;Argenx SE† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4497 | &nbsp;&nbsp;&nbsp;&nbsp; 3050445 |
| &nbsp;&nbsp;&nbsp;ASR Nederland NV | &nbsp;&nbsp;&nbsp;&nbsp;93244 | &nbsp;&nbsp;&nbsp;&nbsp; 6210088 |
| &nbsp;&nbsp;&nbsp;ING Groep NV | &nbsp;&nbsp;&nbsp;&nbsp;496280 | &nbsp;&nbsp;&nbsp;&nbsp; 11604603 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Netherlands (continued)** | **Netherlands (continued)** |  |
| &nbsp;&nbsp;&nbsp;Stellantis NV | &nbsp;&nbsp; 169161 | &nbsp;&nbsp;$1498620 |
| &nbsp;&nbsp;&nbsp;STMicroelectronics NV | &nbsp;&nbsp; 132185 | &nbsp;&nbsp;&nbsp;&nbsp; 3387324 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;29932344 |
| **South Africa — 0.1%** | **South Africa — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;Valterra Platinum, Ltd.† | &nbsp;&nbsp; 5537 | &nbsp;&nbsp;&nbsp;&nbsp; 247160 |
| **Spain — 2.0%** | **Spain — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;CaixaBank SA | &nbsp;&nbsp; 680048 | &nbsp;&nbsp;&nbsp;&nbsp; 6402581 |
| **Switzerland — 2.6%** | **Switzerland — 2.6%** |  |
| &nbsp;&nbsp;&nbsp;ABB, Ltd. | &nbsp;&nbsp; 54387 | &nbsp;&nbsp;&nbsp;&nbsp; 3583616 |
| &nbsp;&nbsp;&nbsp;Partners Group Holding AG | &nbsp;&nbsp; 3488 | &nbsp;&nbsp;&nbsp;&nbsp; 4730110 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8313726 |
| **United Kingdom — 24.7%** | **United Kingdom — 24.7%** |  |
| &nbsp;&nbsp;&nbsp;Angl0d American PLC | &nbsp;&nbsp; 47665 | &nbsp;&nbsp;&nbsp;&nbsp; 1352140 |
| &nbsp;&nbsp;&nbsp;Ashtead Group PLC | &nbsp;&nbsp; 31646 | &nbsp;&nbsp;&nbsp;&nbsp; 2122263 |
| &nbsp;&nbsp;&nbsp;AstraZeneca PLC | &nbsp;&nbsp; 28382 | &nbsp;&nbsp;&nbsp;&nbsp; 4244539 |
| &nbsp;&nbsp;&nbsp;Barclays PLC | &nbsp;&nbsp;2055463 | &nbsp;&nbsp;&nbsp;&nbsp; 10079112 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Europacific Partners PLC | &nbsp;&nbsp; 59989 | &nbsp;&nbsp;&nbsp;&nbsp; 5814134 |
| &nbsp;&nbsp;&nbsp;Compass Group PLC | &nbsp;&nbsp; 73443 | &nbsp;&nbsp;&nbsp;&nbsp; 2584850 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings PLC | &nbsp;&nbsp; 890457 | &nbsp;&nbsp;&nbsp;&nbsp; 10851961 |
| &nbsp;&nbsp;&nbsp;Imperial Brands PLC | &nbsp;&nbsp; 118790 | &nbsp;&nbsp;&nbsp;&nbsp; 4634235 |
| &nbsp;&nbsp;&nbsp;JD Sports Fashion PLC | &nbsp;&nbsp;1480077 | &nbsp;&nbsp;&nbsp;&nbsp; 1670455 |
| &nbsp;&nbsp;&nbsp;Prudential PLC | &nbsp;&nbsp; 323688 | &nbsp;&nbsp;&nbsp;&nbsp; 4120038 |
| &nbsp;&nbsp;&nbsp;Segro PLC | &nbsp;&nbsp; 345398 | &nbsp;&nbsp;&nbsp;&nbsp; 2953114 |
| &nbsp;&nbsp;&nbsp;Shell PLC | &nbsp;&nbsp; 455603 | &nbsp;&nbsp;&nbsp;&nbsp; 16311870 |
| &nbsp;&nbsp;&nbsp;Tesco PLC | &nbsp;&nbsp; 925792 | &nbsp;&nbsp;&nbsp;&nbsp; 5201140 |
| &nbsp;&nbsp;&nbsp;Unilever PLC | &nbsp;&nbsp; 99303 | &nbsp;&nbsp;&nbsp;&nbsp; 5802216 |
| &nbsp;&nbsp;&nbsp;Vodafone Group PLC | &nbsp;&nbsp;2505801 | &nbsp;&nbsp;&nbsp;&nbsp; 2714276 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;80456343 |
| **United States — 1.1%** | **United States — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;Ferguson Enterprises, Inc. | &nbsp;&nbsp; 16054 | &nbsp;&nbsp;&nbsp;&nbsp; 3589450 |
| **Total Long-Term Investment Securities<br> (cost $242,855,699)** |  | &nbsp;&nbsp;&nbsp;&nbsp;319414282 |
| **SHORT-TERM INVESTMENTS — 1.5%** | **SHORT-TERM INVESTMENTS — 1.5%** |  |
| **U.S. Government — 0.1%** | **U.S. Government — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;United States Treasury Bills |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 10/02/2025 | $200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.06%, 10/02/2025 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 12/04/2025 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98545 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396349 |
| **U.S. Government Agency — 1.4%** | **U.S. Government Agency — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Bank Disc. Notes<br> 4.18%, 08/01/2025 | &nbsp;&nbsp;4391000 | &nbsp;&nbsp;&nbsp;&nbsp; 4390483 |
| **Total Short-Term Investments<br> (cost $4,787,466)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4786832 |
| **TOTAL INVESTMENTS<br> (cost $247,643,165)(1)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.7% | &nbsp;&nbsp;&nbsp;&nbsp;324201114 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;942479 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$325143593 |

---

^ Prior to April 28, 2025, the Portfolio was known as SA Putnam International Growth and Income Portfolio. <br> † Non-income producing security <br> (1) See Note 4 for cost of investments on a tax basis.

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Putnam International Value Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** |
| **Counterparty** | &nbsp;&nbsp;**Contract to<br> Deliver** | &nbsp;&nbsp;**Contract to<br> Deliver** | &nbsp;&nbsp;**In<br> Exchange For** | &nbsp;&nbsp;**In<br> Exchange For** | &nbsp;&nbsp;**Delivery<br> Date** | &nbsp;&nbsp;**Unrealized<br> Appreciation** | &nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
| Bank of America, N.A. | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316600 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232215 | &nbsp;&nbsp;10/15/2025 | &nbsp;&nbsp;$2887 | &nbsp;&nbsp;$— |
|  | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3069700 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3520811 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 7454 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2449200 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3304175 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 68253 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2414050 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1959400 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 11295 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2014239 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;290951400 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (81442) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(81442) |
| Barclays Bank PLC | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1862100 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2514158 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 53921 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;NOK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;652500 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64351 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 1221 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1545762 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1249900 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 1364 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142143 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122900 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1481) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1460195 | &nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4856400 | &nbsp;&nbsp;10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (29490) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573527 | &nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5471100 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (13053) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44024) |
| Citibank, N.A. | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890500 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;653143 | &nbsp;&nbsp;10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 8113 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2140300 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2889807 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 62008 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;161801700 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1106272 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 31420 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;NOK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3245800 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320109 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 6074 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;772516 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627000 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 3584 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730806 | &nbsp;&nbsp;CNH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5228700 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (4751) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1635475 | &nbsp;&nbsp;DKK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10635100 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (4027) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8778) |
| Goldman Sachs International | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4085200 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4738303 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 62679 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1928800 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2603070 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 54708 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;KRW | &nbsp;&nbsp;1216319900 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900978 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 28517 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1155639 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1575600 | &nbsp;&nbsp;10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (14360) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;907937 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736800 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 4074 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;778873 | &nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2590600 | &nbsp;&nbsp;10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (15677) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1235551 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;180994300 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (33201) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1825477 | &nbsp;&nbsp;KRW | &nbsp;&nbsp;2468775300 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (54635) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4404921 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5717500 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 3975 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(117873) |
| HSBC Bank PLC | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153100 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112395 | &nbsp;&nbsp;10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 1498 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1202400 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1623571 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 34940 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;872700 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1329200 | &nbsp;&nbsp;10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (17343) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2679054 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2168500 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 5115 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1077537 | &nbsp;&nbsp;CNH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7699800 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (8346) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1640643 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1416600 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (19305) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650675 | &nbsp;&nbsp;HKD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5082300 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2232) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7837704 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;1128007700 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (344320) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(391546) |
| JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;897100 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658542 | &nbsp;&nbsp;10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 8732 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2590100 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500821 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 78739 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;KRW | &nbsp;&nbsp;1256013600 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891738 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (9195) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7003891 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5684700 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 32629 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;859860 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;125958500 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (23115) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533683 | &nbsp;&nbsp;NZD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890000 | &nbsp;&nbsp;10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (8034) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512346 | &nbsp;&nbsp;SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665100 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 529 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40344) |
| Morgan Stanley & Co. International PLC | &nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1106200 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728360 | &nbsp;&nbsp;10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 16506 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931500 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683210 | &nbsp;&nbsp;10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 8482 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197900 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247848 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 2888 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14153300 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16374646 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 175801 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3590000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4824035 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 80869 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;186263000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1302242 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 64892 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;NOK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3143300 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310021 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 5903 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2038327 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1652400 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 7014 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620850 | &nbsp;&nbsp;CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13534700 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 8294 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5556701 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4777600 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (88606) |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Putnam International Value Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** |
| **Counterparty** | &nbsp;&nbsp;**Contract to<br> Deliver** | &nbsp;&nbsp;**Contract to<br> Deliver** | &nbsp;&nbsp;**In<br> Exchange For** | &nbsp;&nbsp;**In<br> Exchange For** | &nbsp;&nbsp;**Delivery<br> Date** | &nbsp;&nbsp;**Unrealized<br> Appreciation** | &nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206881 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29986800 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$(7678) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2985366 | &nbsp;&nbsp;NOK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30323300 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (51551) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(147835) |
| State Street Bank & Trust Co. | &nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1038300 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681697 | &nbsp;&nbsp;10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 13538 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591300 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434067 | &nbsp;&nbsp;10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 5762 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3977640 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3228400 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 18473 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7805384 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6739700 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (91610) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2745032 | &nbsp;&nbsp;HKD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21250300 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (33735) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1054043 | &nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3531300 | &nbsp;&nbsp;10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (13715) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371110 | &nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3540600 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (8402) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(147462) |
| Toronto Dominion Bank | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2174400 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1596200 | &nbsp;&nbsp;10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 21183 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2814985 | &nbsp;&nbsp;HKD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21794300 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (34279) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6365124 | &nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60718000 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (145010) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(179289) |
| UBS AG | &nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455646 | &nbsp;&nbsp;10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 9049 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830900 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609958 | &nbsp;&nbsp;10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 8099 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3752700 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4716652 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 71560 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1429800 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1640089 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 3643 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2409900 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3247963 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 63964 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;172789900 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1206795 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 58947 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1803502 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1465600 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 10617 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453988 | &nbsp;&nbsp;HKD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3516000 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (5386) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5386) |
| Westpac Banking Corp. | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1623200 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1191598 | &nbsp;&nbsp;10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 15840 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1607200 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1992406 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 3014 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5785200 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6627011 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 5689 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78587 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119700 | &nbsp;&nbsp;10/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (1558) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5803805 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4710600 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 26975 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3185642 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2355100 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (74046) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537997 | &nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5133300 | &nbsp;&nbsp;09/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (12128) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(87732) |
| Unrealized Appreciation (Depreciation) |  |  |  |  |  | &nbsp;&nbsp;$1280731 | &nbsp;&nbsp;$(1251711) |

---

---

| |
|:---|
| AUD—Australian Dollar |
| CAD—Canadian Dollar |
| CHF—Swiss Franc |
| CNH—Yuan Renminbi Offshore |
| CZK—Czech Koruna |
| DKK—Danish Krone |

---

---

| |
|:---|
| EUR—Euro Currency |
| GBP—British Pound |
| HKD—Hong Kong Dollar |
| ILS—Israeli New Sheqel |
| JPY—Japanese Yen |
| KRW—South Korean Won |

---

---

| |
|:---|
| NOK—Norwegian Krone |
| NZD—New Zealand Dollar |
| SEK—Swedish Krona |
| SGD—Singapore Dollar |
| USD—United States Dollar |

---

---

| | |
|:---|:---|
| **Industry Allocation\*** |  |
| Banks | &nbsp;&nbsp;24.5% |
| Insurance | &nbsp;&nbsp;10.4 |
| Oil & Gas | &nbsp;&nbsp;&nbsp;&nbsp;6.7 |
| Telecommunications | &nbsp;&nbsp;&nbsp;&nbsp;4.8 |
| Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;4.6 |
| Building Materials | &nbsp;&nbsp;&nbsp;&nbsp;3.7 |
| Miscellaneous Manufacturing | &nbsp;&nbsp;&nbsp;&nbsp;3.5 |
| Electronics | &nbsp;&nbsp;&nbsp;&nbsp;3.5 |
| Retail | &nbsp;&nbsp;&nbsp;&nbsp;3.3 |
| Distribution/Wholesale | &nbsp;&nbsp;&nbsp;&nbsp;3.0 |
| Beverages | &nbsp;&nbsp;&nbsp;&nbsp;2.8 |
| Food | &nbsp;&nbsp;&nbsp;&nbsp;2.7 |
| Aerospace/Defense | &nbsp;&nbsp;&nbsp;&nbsp;2.5 |
| Cosmetics/Personal Care | &nbsp;&nbsp;&nbsp;&nbsp;1.8 |
| Mining | &nbsp;&nbsp;&nbsp;&nbsp;1.7 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Putnam International Value Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | |
|:---|:---|
| **Industry Allocation\*(continued)** |  |
| Electric | &nbsp;&nbsp;&nbsp;&nbsp;1.7% |
| Water | &nbsp;&nbsp;&nbsp;&nbsp;1.7 |
| Airlines | &nbsp;&nbsp;&nbsp;&nbsp;1.7 |
| REITS | &nbsp;&nbsp;&nbsp;&nbsp;1.6 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;1.5 |
| Private Equity | &nbsp;&nbsp;&nbsp;&nbsp;1.5 |
| Agriculture | &nbsp;&nbsp;&nbsp;&nbsp;1.4 |
| Apparel | &nbsp;&nbsp;&nbsp;&nbsp;1.3 |
| Home Furnishings | &nbsp;&nbsp;&nbsp;&nbsp;1.2 |
| Semiconductors | &nbsp;&nbsp;&nbsp;&nbsp;1.0 |
| Home Builders | &nbsp;&nbsp;&nbsp;&nbsp;1.0 |
| Transportation | &nbsp;&nbsp;&nbsp;&nbsp;1.0 |
| Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;0.9 |
| Food Service | &nbsp;&nbsp;&nbsp;&nbsp;0.8 |
| Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;0.7 |
| Commercial Services | &nbsp;&nbsp;&nbsp;&nbsp;0.7 |
| Auto Manufacturers | &nbsp;&nbsp;&nbsp;&nbsp;0.5 |
|  | &nbsp;&nbsp;99.7% |

---

 <br> ^ Prior to April 28, 2025, the Portfolio was known as SA Putnam International Growth and Income Portfolio.

\* Calculated as a percentage of net assets

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$319414282 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$319414282 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;4786832 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4786832 |
| **Total Investments at Value** | &nbsp;&nbsp;$319414282 | &nbsp;&nbsp;$4786832 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$324201114 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Forward Foreign Currency Contracts | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1280731 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1280731 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Forward Foreign Currency Contracts | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1251711 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1251711 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | &nbsp;&nbsp;Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Schroders VCP Global Allocation Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 51.9%** | **COMMON STOCKS — 51.9%** | **COMMON STOCKS — 51.9%** |
| **Australia — 0.3%** | **Australia — 0.3%** | **Australia — 0.3%** |
| &nbsp;&nbsp;&nbsp;ANZ Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3779 | &nbsp;&nbsp;$74606 |
| &nbsp;&nbsp;&nbsp;Aristocrat Leisure, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1075 | &nbsp;&nbsp;&nbsp;&nbsp; 48387 |
| &nbsp;&nbsp;&nbsp;Atlassian Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 | &nbsp;&nbsp;&nbsp;&nbsp; 29918 |
| &nbsp;&nbsp;&nbsp;BHP Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4433 | &nbsp;&nbsp;&nbsp;&nbsp; 111818 |
| &nbsp;&nbsp;&nbsp;Brambles, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2773 | &nbsp;&nbsp;&nbsp;&nbsp; 42609 |
| &nbsp;&nbsp;&nbsp;Commonwealth Bank of Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1320 | &nbsp;&nbsp;&nbsp;&nbsp; 150921 |
| &nbsp;&nbsp;&nbsp;CSL, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617 | &nbsp;&nbsp;&nbsp;&nbsp; 107416 |
| &nbsp;&nbsp;&nbsp;Evolution Mining, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2135 | &nbsp;&nbsp;&nbsp;&nbsp; 9755 |
| &nbsp;&nbsp;&nbsp;Macquarie Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579 | &nbsp;&nbsp;&nbsp;&nbsp; 80886 |
| &nbsp;&nbsp;&nbsp;National Australia Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3150 | &nbsp;&nbsp;&nbsp;&nbsp; 78767 |
| &nbsp;&nbsp;&nbsp;Northern Star Resources, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225 | &nbsp;&nbsp;&nbsp;&nbsp; 12258 |
| &nbsp;&nbsp;&nbsp;Rio Tinto, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347 | &nbsp;&nbsp;&nbsp;&nbsp; 24909 |
| &nbsp;&nbsp;&nbsp;Telstra Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21849 | &nbsp;&nbsp;&nbsp;&nbsp; 69785 |
| &nbsp;&nbsp;&nbsp;Wesfarmers, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1765 | &nbsp;&nbsp;&nbsp;&nbsp; 97264 |
| &nbsp;&nbsp;&nbsp;Westpac Banking Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3556 | &nbsp;&nbsp;&nbsp;&nbsp; 77288 |
| &nbsp;&nbsp;&nbsp;Woodside Energy Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2558 | &nbsp;&nbsp;&nbsp;&nbsp; 43711 |
| &nbsp;&nbsp;&nbsp;Woolworths Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1774 | &nbsp;&nbsp;&nbsp;&nbsp; 35923 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1096221 |
| **Austria — 0.3%** | **Austria — 0.3%** | **Austria — 0.3%** |
| &nbsp;&nbsp;&nbsp;Erste Group Bank AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14313 | &nbsp;&nbsp;&nbsp;&nbsp; 1315703 |
| &nbsp;&nbsp;&nbsp;OMV AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637 | &nbsp;&nbsp;&nbsp;&nbsp; 32480 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1348183 |
| **Belgium — 0.0%** | **Belgium — 0.0%** | **Belgium — 0.0%** |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev SA NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1386 | &nbsp;&nbsp;&nbsp;&nbsp; 81299 |
| &nbsp;&nbsp;&nbsp;KBC Group NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392 | &nbsp;&nbsp;&nbsp;&nbsp; 41049 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122348 |
| **Bermuda — 0.0%** | **Bermuda — 0.0%** | **Bermuda — 0.0%** |
| &nbsp;&nbsp;&nbsp;Axis Capital Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276 | &nbsp;&nbsp;&nbsp;&nbsp; 25900 |
| **Brazil — 0.2%** | **Brazil — 0.2%** | **Brazil — 0.2%** |
| &nbsp;&nbsp;&nbsp;NU Holdings, Ltd., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60851 | &nbsp;&nbsp;&nbsp;&nbsp; 743599 |
| **Canada — 1.1%** | **Canada — 1.1%** | **Canada — 1.1%** |
| &nbsp;&nbsp;&nbsp;Agnico Eagle Mines, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1066 | &nbsp;&nbsp;&nbsp;&nbsp; 132334 |
| &nbsp;&nbsp;&nbsp;Alamos Gold, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1287 | &nbsp;&nbsp;&nbsp;&nbsp; 31274 |
| &nbsp;&nbsp;&nbsp;B2Gold Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7142 | &nbsp;&nbsp;&nbsp;&nbsp; 24020 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;871 | &nbsp;&nbsp;&nbsp;&nbsp; 96139 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;947 | &nbsp;&nbsp;&nbsp;&nbsp; 52688 |
| &nbsp;&nbsp;&nbsp;Brookfield Asset Management, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677 | &nbsp;&nbsp;&nbsp;&nbsp; 41746 |
| &nbsp;&nbsp;&nbsp;Brookfield Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1452 | &nbsp;&nbsp;&nbsp;&nbsp; 97258 |
| &nbsp;&nbsp;&nbsp;Cameco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668 | &nbsp;&nbsp;&nbsp;&nbsp; 50153 |
| &nbsp;&nbsp;&nbsp;Canadian National Railway Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551 | &nbsp;&nbsp;&nbsp;&nbsp; 51449 |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2865 | &nbsp;&nbsp;&nbsp;&nbsp; 90689 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Kansas City, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1263 | &nbsp;&nbsp;&nbsp;&nbsp; 92884 |
| &nbsp;&nbsp;&nbsp;Celestica, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp; 64974 |
| &nbsp;&nbsp;&nbsp;Cenovus Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1299 | &nbsp;&nbsp;&nbsp;&nbsp; 19772 |
| &nbsp;&nbsp;&nbsp;Constellation Software, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;&nbsp;&nbsp; 213898 |
| &nbsp;&nbsp;&nbsp;Dollarama, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842 | &nbsp;&nbsp;&nbsp;&nbsp; 115082 |
| &nbsp;&nbsp;&nbsp;Enbridge, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4754 | &nbsp;&nbsp;&nbsp;&nbsp; 215296 |
| &nbsp;&nbsp;&nbsp;Fairfax Financial Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp; 35375 |
| &nbsp;&nbsp;&nbsp;Franco-Nevada Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555 | &nbsp;&nbsp;&nbsp;&nbsp; 88409 |
| &nbsp;&nbsp;&nbsp;Great-West Lifeco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824 | &nbsp;&nbsp;&nbsp;&nbsp; 30942 |
| &nbsp;&nbsp;&nbsp;Hydro One, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3272 | &nbsp;&nbsp;&nbsp;&nbsp; 115710 |
| &nbsp;&nbsp;&nbsp;Keyera Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1533 | &nbsp;&nbsp;&nbsp;&nbsp; 48127 |
| &nbsp;&nbsp;&nbsp;Kinross Gold Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2589 | &nbsp;&nbsp;&nbsp;&nbsp; 41425 |
| &nbsp;&nbsp;&nbsp;Loblaw Cos., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773 | &nbsp;&nbsp;&nbsp;&nbsp; 125004 |
| &nbsp;&nbsp;&nbsp;Manulife Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5211 | &nbsp;&nbsp;&nbsp;&nbsp; 161227 |
| &nbsp;&nbsp;&nbsp;Metro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;857 | &nbsp;&nbsp;&nbsp;&nbsp; 65531 |
| &nbsp;&nbsp;&nbsp;National Bank of Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461 | &nbsp;&nbsp;&nbsp;&nbsp; 47953 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp; 307950 |
| &nbsp;&nbsp;&nbsp;Shopify, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1712 | &nbsp;&nbsp;&nbsp;&nbsp; 209268 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| &nbsp;&nbsp;&nbsp;Stantec, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331 | &nbsp;&nbsp;$36182 |
| &nbsp;&nbsp;&nbsp;Sun Life Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp;&nbsp;&nbsp; 38411 |
| &nbsp;&nbsp;&nbsp;Suncor Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1357 | &nbsp;&nbsp;&nbsp;&nbsp; 53522 |
| &nbsp;&nbsp;&nbsp;TC Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1194 | &nbsp;&nbsp;&nbsp;&nbsp; 57011 |
| &nbsp;&nbsp;&nbsp;TFI International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237 | &nbsp;&nbsp;&nbsp;&nbsp; 20611 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17959 | &nbsp;&nbsp;&nbsp;&nbsp; 1308041 |
| &nbsp;&nbsp;&nbsp;Waste Connections, Inc. (NYSE) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1179 | &nbsp;&nbsp;&nbsp;&nbsp; 220084 |
| &nbsp;&nbsp;&nbsp;Waste Connections, Inc. (TSX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457 | &nbsp;&nbsp;&nbsp;&nbsp; 85338 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4485777 |
| **China — 1.0%** | **China — 1.0%** | **China — 1.0%** |
| &nbsp;&nbsp;&nbsp;Bilibili, Inc. ADR† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1160 | &nbsp;&nbsp;&nbsp;&nbsp; 26471 |
| &nbsp;&nbsp;&nbsp;Contemporary Amperex Technology Co., Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28900 | &nbsp;&nbsp;&nbsp;&nbsp; 1063204 |
| &nbsp;&nbsp;&nbsp;Tencent Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24500 | &nbsp;&nbsp;&nbsp;&nbsp; 1716561 |
| &nbsp;&nbsp;&nbsp;Tencent Music Entertainment Group ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59390 | &nbsp;&nbsp;&nbsp;&nbsp; 1246596 |
| &nbsp;&nbsp;&nbsp;Xiaomi Corp., Class B\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8600 | &nbsp;&nbsp;&nbsp;&nbsp; 58228 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4111060 |
| **Curacao — 0.0%** | **Curacao — 0.0%** | **Curacao — 0.0%** |
| &nbsp;&nbsp;&nbsp;Schlumberger NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1339 | &nbsp;&nbsp;&nbsp;&nbsp; 45258 |
| **Denmark — 0.3%** | **Denmark — 0.3%** | **Denmark — 0.3%** |
| &nbsp;&nbsp;&nbsp;Danske Bank A/S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978 | &nbsp;&nbsp;&nbsp;&nbsp; 38951 |
| &nbsp;&nbsp;&nbsp;DSV A/S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363 | &nbsp;&nbsp;&nbsp;&nbsp; 81277 |
| &nbsp;&nbsp;&nbsp;Novo Nordisk A/S, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4566 | &nbsp;&nbsp;&nbsp;&nbsp; 219548 |
| &nbsp;&nbsp;&nbsp;Novonesis (Novozymes), Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785 | &nbsp;&nbsp;&nbsp;&nbsp; 51103 |
| &nbsp;&nbsp;&nbsp;Orsted A/S\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;&nbsp; 16026 |
| &nbsp;&nbsp;&nbsp;Vestas Wind Systems A/S | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36864 | &nbsp;&nbsp;&nbsp;&nbsp; 676326 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1083231 |
| **Finland — 0.1%** | **Finland — 0.1%** | **Finland — 0.1%** |
| &nbsp;&nbsp;&nbsp;Kesko Oyj, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1810 | &nbsp;&nbsp;&nbsp;&nbsp; 39411 |
| &nbsp;&nbsp;&nbsp;Konecranes OYJ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344 | &nbsp;&nbsp;&nbsp;&nbsp; 28775 |
| &nbsp;&nbsp;&nbsp;Neste Oyj | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597 | &nbsp;&nbsp;&nbsp;&nbsp; 9426 |
| &nbsp;&nbsp;&nbsp;Nokia Oyj | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10093 | &nbsp;&nbsp;&nbsp;&nbsp; 41327 |
| &nbsp;&nbsp;&nbsp;Nordea Bank Abp (NASDAQ Helsinki) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676 | &nbsp;&nbsp;&nbsp;&nbsp; 9875 |
| &nbsp;&nbsp;&nbsp;Nordea Bank Abp (NASDAQ Stockholm) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2480 | &nbsp;&nbsp;&nbsp;&nbsp; 36227 |
| &nbsp;&nbsp;&nbsp;Orion Oyj, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1780 | &nbsp;&nbsp;&nbsp;&nbsp; 142803 |
| &nbsp;&nbsp;&nbsp;UPM-Kymmene Oyj | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1695 | &nbsp;&nbsp;&nbsp;&nbsp; 44006 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351850 |
| **France — 1.6%** | **France — 1.6%** | **France — 1.6%** |
| &nbsp;&nbsp;&nbsp;Air Liquide SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1129 | &nbsp;&nbsp;&nbsp;&nbsp; 222638 |
| &nbsp;&nbsp;&nbsp;AXA SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4136 | &nbsp;&nbsp;&nbsp;&nbsp; 201450 |
| &nbsp;&nbsp;&nbsp;BNP Paribas SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2084 | &nbsp;&nbsp;&nbsp;&nbsp; 190403 |
| &nbsp;&nbsp;&nbsp;Bureau Veritas SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1765 | &nbsp;&nbsp;&nbsp;&nbsp; 54464 |
| &nbsp;&nbsp;&nbsp;Cie de Saint-Gobain SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1768 | &nbsp;&nbsp;&nbsp;&nbsp; 202369 |
| &nbsp;&nbsp;&nbsp;Danone SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;739 | &nbsp;&nbsp;&nbsp;&nbsp; 60620 |
| &nbsp;&nbsp;&nbsp;Eiffage SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263 | &nbsp;&nbsp;&nbsp;&nbsp; 35311 |
| &nbsp;&nbsp;&nbsp;Engie SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2410 | &nbsp;&nbsp;&nbsp;&nbsp; 53961 |
| &nbsp;&nbsp;&nbsp;EssilorLuxottica SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613 | &nbsp;&nbsp;&nbsp;&nbsp; 182304 |
| &nbsp;&nbsp;&nbsp;Gaztransport Et Technigaz SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546 | &nbsp;&nbsp;&nbsp;&nbsp; 102811 |
| &nbsp;&nbsp;&nbsp;Hermes International S.C.A. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp;&nbsp;&nbsp; 81006 |
| &nbsp;&nbsp;&nbsp;Kering SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp; 16060 |
| &nbsp;&nbsp;&nbsp;Legrand SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10855 | &nbsp;&nbsp;&nbsp;&nbsp; 1609784 |
| &nbsp;&nbsp;&nbsp;L'Oreal SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353 | &nbsp;&nbsp;&nbsp;&nbsp; 156847 |
| &nbsp;&nbsp;&nbsp;LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358 | &nbsp;&nbsp;&nbsp;&nbsp; 192978 |
| &nbsp;&nbsp;&nbsp;Nexans SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp;&nbsp;&nbsp; 32915 |
| &nbsp;&nbsp;&nbsp;Pernod Ricard SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357 | &nbsp;&nbsp;&nbsp;&nbsp; 36813 |
| &nbsp;&nbsp;&nbsp;Rexel SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410 | &nbsp;&nbsp;&nbsp;&nbsp; 12437 |
| &nbsp;&nbsp;&nbsp;Safran SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526 | &nbsp;&nbsp;&nbsp;&nbsp; 173778 |
| &nbsp;&nbsp;&nbsp;Sanofi SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11634 | &nbsp;&nbsp;&nbsp;&nbsp; 1046736 |
| &nbsp;&nbsp;&nbsp;Schneider Electric SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6484 | &nbsp;&nbsp;&nbsp;&nbsp; 1688944 |
| &nbsp;&nbsp;&nbsp;Societe Generale SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1322 | &nbsp;&nbsp;&nbsp;&nbsp; 84425 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Schroders VCP Global Allocation Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **France (continued)** | **France (continued)** | **France (continued)** |
| &nbsp;&nbsp;&nbsp;TotalEnergies SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3624 | &nbsp;&nbsp;$215140 |
| &nbsp;&nbsp;&nbsp;Vinci SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1232 | &nbsp;&nbsp;&nbsp;&nbsp; 170964 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6825158 |
| **Germany — 1.9%** | **Germany — 1.9%** | **Germany — 1.9%** |
| &nbsp;&nbsp;&nbsp;adidas AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152 | &nbsp;&nbsp;&nbsp;&nbsp; 29150 |
| &nbsp;&nbsp;&nbsp;Allianz SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;691 | &nbsp;&nbsp;&nbsp;&nbsp; 273791 |
| &nbsp;&nbsp;&nbsp;BASF SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781 | &nbsp;&nbsp;&nbsp;&nbsp; 38468 |
| &nbsp;&nbsp;&nbsp;Bayer AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552 | &nbsp;&nbsp;&nbsp;&nbsp; 17229 |
| &nbsp;&nbsp;&nbsp;Commerzbank AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1222 | &nbsp;&nbsp;&nbsp;&nbsp; 44681 |
| &nbsp;&nbsp;&nbsp;Daimler Truck Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1491 | &nbsp;&nbsp;&nbsp;&nbsp; 72877 |
| &nbsp;&nbsp;&nbsp;Delivery Hero SE\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371 | &nbsp;&nbsp;&nbsp;&nbsp; 11131 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2657 | &nbsp;&nbsp;&nbsp;&nbsp; 87887 |
| &nbsp;&nbsp;&nbsp;Deutsche Boerse AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213 | &nbsp;&nbsp;&nbsp;&nbsp; 61766 |
| &nbsp;&nbsp;&nbsp;Deutsche Telekom AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8486 | &nbsp;&nbsp;&nbsp;&nbsp; 304859 |
| &nbsp;&nbsp;&nbsp;E.ON SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7216 | &nbsp;&nbsp;&nbsp;&nbsp; 131388 |
| &nbsp;&nbsp;&nbsp;Hannover Rueck SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127 | &nbsp;&nbsp;&nbsp;&nbsp; 38610 |
| &nbsp;&nbsp;&nbsp;Heidelberg Materials AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294 | &nbsp;&nbsp;&nbsp;&nbsp; 67941 |
| &nbsp;&nbsp;&nbsp;Henkel AG & Co. KGaA (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491 | &nbsp;&nbsp;&nbsp;&nbsp; 37867 |
| &nbsp;&nbsp;&nbsp;HOCHTIEF AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;&nbsp;&nbsp; 83132 |
| &nbsp;&nbsp;&nbsp;Infineon Technologies AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32450 | &nbsp;&nbsp;&nbsp;&nbsp; 1282601 |
| &nbsp;&nbsp;&nbsp;Mercedes-Benz Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823 | &nbsp;&nbsp;&nbsp;&nbsp; 47054 |
| &nbsp;&nbsp;&nbsp;Muenchener Rueckversicherungs-Gesellschaft AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283 | &nbsp;&nbsp;&nbsp;&nbsp; 185895 |
| &nbsp;&nbsp;&nbsp;Rheinmetall AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp; 13864 |
| &nbsp;&nbsp;&nbsp;RWE AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1312 | &nbsp;&nbsp;&nbsp;&nbsp; 53766 |
| &nbsp;&nbsp;&nbsp;SAP SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10173 | &nbsp;&nbsp;&nbsp;&nbsp; 2911643 |
| &nbsp;&nbsp;&nbsp;Sartorius AG (Preference Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp;&nbsp;&nbsp; 11558 |
| &nbsp;&nbsp;&nbsp;Siemens AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7409 | &nbsp;&nbsp;&nbsp;&nbsp; 1901563 |
| &nbsp;&nbsp;&nbsp;Siemens Energy AG† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;738 | &nbsp;&nbsp;&nbsp;&nbsp; 85905 |
| &nbsp;&nbsp;&nbsp;Vonovia SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631 | &nbsp;&nbsp;&nbsp;&nbsp; 19644 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7814270 |
| **Greece — 0.0%** | **Greece — 0.0%** | **Greece — 0.0%** |
| &nbsp;&nbsp;&nbsp;Eurobank Ergasias Services & Holdings SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5065 | &nbsp;&nbsp;&nbsp;&nbsp; 18716 |
| **Hong Kong — 0.1%** | **Hong Kong — 0.1%** | **Hong Kong — 0.1%** |
| &nbsp;&nbsp;&nbsp;AIA Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19800 | &nbsp;&nbsp;&nbsp;&nbsp; 185136 |
| &nbsp;&nbsp;&nbsp;CK Asset Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10500 | &nbsp;&nbsp;&nbsp;&nbsp; 48220 |
| &nbsp;&nbsp;&nbsp;Futu Holdings, Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp;&nbsp; 33810 |
| &nbsp;&nbsp;&nbsp;Galaxy Entertainment Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp; 19567 |
| &nbsp;&nbsp;&nbsp;Hong Kong & China Gas Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20735 | &nbsp;&nbsp;&nbsp;&nbsp; 18516 |
| &nbsp;&nbsp;&nbsp;Hong Kong Exchanges & Clearing, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp; 114229 |
| &nbsp;&nbsp;&nbsp;Techtronic Industries Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp; 36038 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455516 |
| **India — 0.3%** | **India — 0.3%** | **India — 0.3%** |
| &nbsp;&nbsp;&nbsp;HDFC Bank, Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18535 | &nbsp;&nbsp;&nbsp;&nbsp; 1422932 |
| **Indonesia — 0.2%** | **Indonesia — 0.2%** | **Indonesia — 0.2%** |
| &nbsp;&nbsp;&nbsp;Bank Central Asia Tbk PT | 1585300 | &nbsp;&nbsp;&nbsp;&nbsp; 797226 |
| **Ireland — 0.5%** | **Ireland — 0.5%** | **Ireland — 0.5%** |
| &nbsp;&nbsp;&nbsp;Accenture PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824 | &nbsp;&nbsp;&nbsp;&nbsp; 220090 |
| &nbsp;&nbsp;&nbsp;Allegion PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404 | &nbsp;&nbsp;&nbsp;&nbsp; 67032 |
| &nbsp;&nbsp;&nbsp;Aon PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348 | &nbsp;&nbsp;&nbsp;&nbsp; 123787 |
| &nbsp;&nbsp;&nbsp;CRH PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1392 | &nbsp;&nbsp;&nbsp;&nbsp; 132866 |
| &nbsp;&nbsp;&nbsp;Eaton Corp. PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;837 | &nbsp;&nbsp;&nbsp;&nbsp; 322011 |
| &nbsp;&nbsp;&nbsp;Flutter Entertainment PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193 | &nbsp;&nbsp;&nbsp;&nbsp; 58879 |
| &nbsp;&nbsp;&nbsp;James Hardie Industries PLC CDI† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045 | &nbsp;&nbsp;&nbsp;&nbsp; 27742 |
| &nbsp;&nbsp;&nbsp;Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828 | &nbsp;&nbsp;&nbsp;&nbsp; 381095 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2436 | &nbsp;&nbsp;&nbsp;&nbsp; 219825 |
| &nbsp;&nbsp;&nbsp;nVent Electric PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382 | &nbsp;&nbsp;&nbsp;&nbsp; 29956 |
| &nbsp;&nbsp;&nbsp;Pentair PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399 | &nbsp;&nbsp;&nbsp;&nbsp; 40778 |
| &nbsp;&nbsp;&nbsp;TE Connectivity PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp; 154312 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Ireland (continued)** | **Ireland (continued)** | **Ireland (continued)** |
| &nbsp;&nbsp;&nbsp;Trane Technologies PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522 | &nbsp;&nbsp;$228678 |
| &nbsp;&nbsp;&nbsp;Willis Towers Watson PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp; 52109 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2059160 |
| **Italy — 0.3%** | **Italy — 0.3%** | **Italy — 0.3%** |
| &nbsp;&nbsp;&nbsp;Enel SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6211 | &nbsp;&nbsp;&nbsp;&nbsp; 54811 |
| &nbsp;&nbsp;&nbsp;Eni SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5076 | &nbsp;&nbsp;&nbsp;&nbsp; 86370 |
| &nbsp;&nbsp;&nbsp;Generali | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1989 | &nbsp;&nbsp;&nbsp;&nbsp; 74269 |
| &nbsp;&nbsp;&nbsp;Intesa Sanpaolo SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37583 | &nbsp;&nbsp;&nbsp;&nbsp; 227101 |
| &nbsp;&nbsp;&nbsp;Italgas SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16027 | &nbsp;&nbsp;&nbsp;&nbsp; 132511 |
| &nbsp;&nbsp;&nbsp;Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1311 | &nbsp;&nbsp;&nbsp;&nbsp; 28935 |
| &nbsp;&nbsp;&nbsp;Poste Italiane SpA\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1683 | &nbsp;&nbsp;&nbsp;&nbsp; 36425 |
| &nbsp;&nbsp;&nbsp;Prysmian SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589 | &nbsp;&nbsp;&nbsp;&nbsp; 47307 |
| &nbsp;&nbsp;&nbsp;Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532 | &nbsp;&nbsp;&nbsp;&nbsp; 30599 |
| &nbsp;&nbsp;&nbsp;Terna - Rete Elettrica Nazionale | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11874 | &nbsp;&nbsp;&nbsp;&nbsp; 114530 |
| &nbsp;&nbsp;&nbsp;UniCredit SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3636 | &nbsp;&nbsp;&nbsp;&nbsp; 268176 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1101034 |
| **Japan — 3.9%** | **Japan — 3.9%** | **Japan — 3.9%** |
| &nbsp;&nbsp;&nbsp;Advantest Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 102951 |
| &nbsp;&nbsp;&nbsp;Ajinomoto Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp; 50461 |
| &nbsp;&nbsp;&nbsp;Asics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp; 37857 |
| &nbsp;&nbsp;&nbsp;Astellas Pharma, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3900 | &nbsp;&nbsp;&nbsp;&nbsp; 40823 |
| &nbsp;&nbsp;&nbsp;Capcom Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 28273 |
| &nbsp;&nbsp;&nbsp;Chugai Pharmaceutical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp; 43926 |
| &nbsp;&nbsp;&nbsp;Dai-ichi Life Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp; 38308 |
| &nbsp;&nbsp;&nbsp;Daiichi Sankyo Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp; 29602 |
| &nbsp;&nbsp;&nbsp;Daikin Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 49403 |
| &nbsp;&nbsp;&nbsp;Ebara Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp; 51989 |
| &nbsp;&nbsp;&nbsp;Eisai Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 11334 |
| &nbsp;&nbsp;&nbsp;FANUC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp; 45316 |
| &nbsp;&nbsp;&nbsp;Fast Retailing Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3800 | &nbsp;&nbsp;&nbsp;&nbsp; 1168727 |
| &nbsp;&nbsp;&nbsp;Fujikura, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp; 110080 |
| &nbsp;&nbsp;&nbsp;Fujitsu, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp; 30683 |
| &nbsp;&nbsp;&nbsp;Furukawa Electric Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp; 36585 |
| &nbsp;&nbsp;&nbsp;Hitachi, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11500 | &nbsp;&nbsp;&nbsp;&nbsp; 358193 |
| &nbsp;&nbsp;&nbsp;Honda Motor Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp;&nbsp;&nbsp; 48901 |
| &nbsp;&nbsp;&nbsp;Hoya Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10700 | &nbsp;&nbsp;&nbsp;&nbsp; 1360915 |
| &nbsp;&nbsp;&nbsp;Inpex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp; 62659 |
| &nbsp;&nbsp;&nbsp;ITOCHU Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21200 | &nbsp;&nbsp;&nbsp;&nbsp; 1115249 |
| &nbsp;&nbsp;&nbsp;Japan Elevator Service Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp; 43130 |
| &nbsp;&nbsp;&nbsp;Kao Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp; 54191 |
| &nbsp;&nbsp;&nbsp;KDDI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8200 | &nbsp;&nbsp;&nbsp;&nbsp; 135153 |
| &nbsp;&nbsp;&nbsp;Keyence Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp; 1061539 |
| &nbsp;&nbsp;&nbsp;Kirin Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5600 | &nbsp;&nbsp;&nbsp;&nbsp; 74233 |
| &nbsp;&nbsp;&nbsp;Komatsu, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3700 | &nbsp;&nbsp;&nbsp;&nbsp; 119367 |
| &nbsp;&nbsp;&nbsp;Lasertec Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 10292 |
| &nbsp;&nbsp;&nbsp;MEITEC Group Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 23072 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp; 118886 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Estate Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 20687 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;128000 | &nbsp;&nbsp;&nbsp;&nbsp; 1791406 |
| &nbsp;&nbsp;&nbsp;Mitsui & Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5300 | &nbsp;&nbsp;&nbsp;&nbsp; 108952 |
| &nbsp;&nbsp;&nbsp;Mitsui Fudosan Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp; 41440 |
| &nbsp;&nbsp;&nbsp;Mitsui Mining & Smelting Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 29940 |
| &nbsp;&nbsp;&nbsp;Mitsui OSK Lines, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp; 43836 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7700 | &nbsp;&nbsp;&nbsp;&nbsp; 228855 |
| &nbsp;&nbsp;&nbsp;MS&AD Insurance Group Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58000 | &nbsp;&nbsp;&nbsp;&nbsp; 1247692 |
| &nbsp;&nbsp;&nbsp;Murata Manufacturing Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp; 39095 |
| &nbsp;&nbsp;&nbsp;NEC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 29171 |
| &nbsp;&nbsp;&nbsp;NIDEC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp; 38634 |
| &nbsp;&nbsp;&nbsp;Nintendo Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp; 168302 |
| &nbsp;&nbsp;&nbsp;Nippon Building Fund, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp; 73581 |
| &nbsp;&nbsp;&nbsp;Niterra Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 17321 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Schroders VCP Global Allocation Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| &nbsp;&nbsp;&nbsp;Nomura Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9100 | &nbsp;&nbsp;$60647 |
| &nbsp;&nbsp;&nbsp;NTT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16100 | &nbsp;&nbsp;&nbsp;&nbsp; 16303 |
| &nbsp;&nbsp;&nbsp;Obayashi Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp; 38422 |
| &nbsp;&nbsp;&nbsp;Olympus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp; 30032 |
| &nbsp;&nbsp;&nbsp;Oriental Land Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp; 33050 |
| &nbsp;&nbsp;&nbsp;Recruit Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22500 | &nbsp;&nbsp;&nbsp;&nbsp; 1350597 |
| &nbsp;&nbsp;&nbsp;Resona Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp; 24869 |
| &nbsp;&nbsp;&nbsp;Sanrio Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 28887 |
| &nbsp;&nbsp;&nbsp;Sanwa Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp; 24696 |
| &nbsp;&nbsp;&nbsp;SBI Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp; 22528 |
| &nbsp;&nbsp;&nbsp;SCSK Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp; 18756 |
| &nbsp;&nbsp;&nbsp;Sekisui Chemical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp; 57608 |
| &nbsp;&nbsp;&nbsp;Seven & i Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp; 47674 |
| &nbsp;&nbsp;&nbsp;Shimano, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp; 461638 |
| &nbsp;&nbsp;&nbsp;Shin-Etsu Chemical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp; 64118 |
| &nbsp;&nbsp;&nbsp;Shiseido Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp; 9770 |
| &nbsp;&nbsp;&nbsp;SoftBank Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12800 | &nbsp;&nbsp;&nbsp;&nbsp; 1002440 |
| &nbsp;&nbsp;&nbsp;Sony Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66300 | &nbsp;&nbsp;&nbsp;&nbsp; 1618810 |
| &nbsp;&nbsp;&nbsp;Sumitomo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5100 | &nbsp;&nbsp;&nbsp;&nbsp; 130544 |
| &nbsp;&nbsp;&nbsp;Sumitomo Electric Industries, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp; 24920 |
| &nbsp;&nbsp;&nbsp;Sumitomo Forestry Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp; 24549 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7100 | &nbsp;&nbsp;&nbsp;&nbsp; 181502 |
| &nbsp;&nbsp;&nbsp;Suzuki Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp; 39784 |
| &nbsp;&nbsp;&nbsp;Sysmex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp; 19711 |
| &nbsp;&nbsp;&nbsp;T&D Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp; 36973 |
| &nbsp;&nbsp;&nbsp;Taisei Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 42084 |
| &nbsp;&nbsp;&nbsp;Takeda Pharmaceutical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp; 58488 |
| &nbsp;&nbsp;&nbsp;Tokio Marine Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp; 48732 |
| &nbsp;&nbsp;&nbsp;Tokyo Electron, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 126863 |
| &nbsp;&nbsp;&nbsp;Toray Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5100 | &nbsp;&nbsp;&nbsp;&nbsp; 35105 |
| &nbsp;&nbsp;&nbsp;Toyota Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13300 | &nbsp;&nbsp;&nbsp;&nbsp; 237821 |
| &nbsp;&nbsp;&nbsp;Yokogawa Electric Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp; 77481 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;16336412 |
| **Jersey — 0.0%** | **Jersey — 0.0%** | **Jersey — 0.0%** |
| &nbsp;&nbsp;&nbsp;Aptiv PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316 | &nbsp;&nbsp;&nbsp;&nbsp; 21690 |
| &nbsp;&nbsp;&nbsp;Experian PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1031 | &nbsp;&nbsp;&nbsp;&nbsp; 54518 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76208 |
| **Luxembourg — 0.0%** | **Luxembourg — 0.0%** | **Luxembourg — 0.0%** |
| &nbsp;&nbsp;&nbsp;Spotify Technology SA† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317 | &nbsp;&nbsp;&nbsp;&nbsp; 198613 |
| **Netherlands — 1.1%** | **Netherlands — 1.1%** | **Netherlands — 1.1%** |
| &nbsp;&nbsp;&nbsp;ABN AMRO Bank NV CVA\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1341 | &nbsp;&nbsp;&nbsp;&nbsp; 38810 |
| &nbsp;&nbsp;&nbsp;Adyen NV\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp;&nbsp; 31030 |
| &nbsp;&nbsp;&nbsp;Airbus SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;514 | &nbsp;&nbsp;&nbsp;&nbsp; 103261 |
| &nbsp;&nbsp;&nbsp;Argenx SE† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp; 45448 |
| &nbsp;&nbsp;&nbsp;ASM International NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp; 19514 |
| &nbsp;&nbsp;&nbsp;ASML Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2964 | &nbsp;&nbsp;&nbsp;&nbsp; 2073820 |
| &nbsp;&nbsp;&nbsp;ASR Nederland NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591 | &nbsp;&nbsp;&nbsp;&nbsp; 39361 |
| &nbsp;&nbsp;&nbsp;Euronext NV\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232 | &nbsp;&nbsp;&nbsp;&nbsp; 37490 |
| &nbsp;&nbsp;&nbsp;Ferrari NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393 | &nbsp;&nbsp;&nbsp;&nbsp; 172804 |
| &nbsp;&nbsp;&nbsp;Heineken NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13288 | &nbsp;&nbsp;&nbsp;&nbsp; 1047244 |
| &nbsp;&nbsp;&nbsp;ING Groep NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5565 | &nbsp;&nbsp;&nbsp;&nbsp; 130127 |
| &nbsp;&nbsp;&nbsp;Koninklijke Ahold Delhaize NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4664 | &nbsp;&nbsp;&nbsp;&nbsp; 184160 |
| &nbsp;&nbsp;&nbsp;Koninklijke KPN NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33480 | &nbsp;&nbsp;&nbsp;&nbsp; 149773 |
| &nbsp;&nbsp;&nbsp;Koninklijke Philips NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1677 | &nbsp;&nbsp;&nbsp;&nbsp; 44209 |
| &nbsp;&nbsp;&nbsp;NN Group NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608 | &nbsp;&nbsp;&nbsp;&nbsp; 41048 |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431 | &nbsp;&nbsp;&nbsp;&nbsp; 92135 |
| &nbsp;&nbsp;&nbsp;Prosus NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3143 | &nbsp;&nbsp;&nbsp;&nbsp; 180200 |
| &nbsp;&nbsp;&nbsp;Stellantis NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3791 | &nbsp;&nbsp;&nbsp;&nbsp; 33585 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4464019 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **New Zealand — 0.0%** | **New Zealand — 0.0%** | **New Zealand — 0.0%** |
| &nbsp;&nbsp;&nbsp;Meridian Energy, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7682 | &nbsp;&nbsp;$25795 |
| **Norway — 0.3%** | **Norway — 0.3%** | **Norway — 0.3%** |
| &nbsp;&nbsp;&nbsp;DNB Bank ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35321 | &nbsp;&nbsp;&nbsp;&nbsp; 896118 |
| &nbsp;&nbsp;&nbsp;Equinor ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1551 | &nbsp;&nbsp;&nbsp;&nbsp; 40160 |
| &nbsp;&nbsp;&nbsp;Kongsberg Gruppen ASA (OSEAX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3785 | &nbsp;&nbsp;&nbsp;&nbsp; 113400 |
| &nbsp;&nbsp;&nbsp;Kongsberg Gruppen ASA (Xetra) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 20762 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1070440 |
| **Puerto Rico — 0.0%** | **Puerto Rico — 0.0%** | **Puerto Rico — 0.0%** |
| &nbsp;&nbsp;&nbsp;Popular, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp; 18333 |
| **Singapore — 0.2%** | **Singapore — 0.2%** | **Singapore — 0.2%** |
| &nbsp;&nbsp;&nbsp;CapitaLand Integrated Commercial Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36100 | &nbsp;&nbsp;&nbsp;&nbsp; 61168 |
| &nbsp;&nbsp;&nbsp;DBS Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5880 | &nbsp;&nbsp;&nbsp;&nbsp; 216968 |
| &nbsp;&nbsp;&nbsp;Oversea-Chinese Banking Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp; 84454 |
| &nbsp;&nbsp;&nbsp;Sea, Ltd. ADR† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;853 | &nbsp;&nbsp;&nbsp;&nbsp; 133622 |
| &nbsp;&nbsp;&nbsp;Singapore Telecommunications, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32600 | &nbsp;&nbsp;&nbsp;&nbsp; 97418 |
| &nbsp;&nbsp;&nbsp;United Overseas Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp; 52958 |
| &nbsp;&nbsp;&nbsp;Yangzijiang Shipbuilding Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32900 | &nbsp;&nbsp;&nbsp;&nbsp; 64868 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711456 |
| **South Africa — 0.0%** | **South Africa — 0.0%** | **South Africa — 0.0%** |
| &nbsp;&nbsp;&nbsp;Gold Fields, Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1088 | &nbsp;&nbsp;&nbsp;&nbsp; 26504 |
| &nbsp;&nbsp;&nbsp;Valterra Platinum, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp; 11829 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38333 |
| **South Korea — 0.0%** | **South Korea — 0.0%** | **South Korea — 0.0%** |
| &nbsp;&nbsp;&nbsp;HD Hyundai Electric Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254 | &nbsp;&nbsp;&nbsp;&nbsp; 91761 |
| &nbsp;&nbsp;&nbsp;Korea Shipbuilding & Offshore Engineering Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp; 13720 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105481 |
| **Spain — 0.8%** | **Spain — 0.8%** | **Spain — 0.8%** |
| &nbsp;&nbsp;&nbsp;ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626 | &nbsp;&nbsp;&nbsp;&nbsp; 43149 |
| &nbsp;&nbsp;&nbsp;Aena SME SA\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1552 | &nbsp;&nbsp;&nbsp;&nbsp; 41790 |
| &nbsp;&nbsp;&nbsp;Amadeus IT Group SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 40182 |
| &nbsp;&nbsp;&nbsp;Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5296 | &nbsp;&nbsp;&nbsp;&nbsp; 88481 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28062 | &nbsp;&nbsp;&nbsp;&nbsp; 241336 |
| &nbsp;&nbsp;&nbsp;Bankinter SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81603 | &nbsp;&nbsp;&nbsp;&nbsp; 1164066 |
| &nbsp;&nbsp;&nbsp;CaixaBank SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5954 | &nbsp;&nbsp;&nbsp;&nbsp; 56056 |
| &nbsp;&nbsp;&nbsp;Cellnex Telecom SA\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527 | &nbsp;&nbsp;&nbsp;&nbsp; 18644 |
| &nbsp;&nbsp;&nbsp;Endesa SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1377 | &nbsp;&nbsp;&nbsp;&nbsp; 39836 |
| &nbsp;&nbsp;&nbsp;Iberdrola SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70160 | &nbsp;&nbsp;&nbsp;&nbsp; 1229422 |
| &nbsp;&nbsp;&nbsp;Industria de Diseno Textil SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2322 | &nbsp;&nbsp;&nbsp;&nbsp; 111056 |
| &nbsp;&nbsp;&nbsp;Redeia Corp. SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2842 | &nbsp;&nbsp;&nbsp;&nbsp; 54974 |
| &nbsp;&nbsp;&nbsp;Repsol SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp; 42434 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3171426 |
| **Sweden — 0.3%** | **Sweden — 0.3%** | **Sweden — 0.3%** |
| &nbsp;&nbsp;&nbsp;Assa Abloy AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1816 | &nbsp;&nbsp;&nbsp;&nbsp; 60068 |
| &nbsp;&nbsp;&nbsp;Atlas Copco AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6044 | &nbsp;&nbsp;&nbsp;&nbsp; 92241 |
| &nbsp;&nbsp;&nbsp;Essity AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1266 | &nbsp;&nbsp;&nbsp;&nbsp; 31232 |
| &nbsp;&nbsp;&nbsp;Evolution AB\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219 | &nbsp;&nbsp;&nbsp;&nbsp; 19517 |
| &nbsp;&nbsp;&nbsp;Lifco AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2008 | &nbsp;&nbsp;&nbsp;&nbsp; 71711 |
| &nbsp;&nbsp;&nbsp;Saab AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;739 | &nbsp;&nbsp;&nbsp;&nbsp; 40290 |
| &nbsp;&nbsp;&nbsp;Svenska Handelsbanken AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83562 | &nbsp;&nbsp;&nbsp;&nbsp; 1021771 |
| &nbsp;&nbsp;&nbsp;Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4820 | &nbsp;&nbsp;&nbsp;&nbsp; 35126 |
| &nbsp;&nbsp;&nbsp;Volvo AB, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2985 | &nbsp;&nbsp;&nbsp;&nbsp; 85745 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1457701 |
| **Switzerland — 2.0%** | **Switzerland — 2.0%** | **Switzerland — 2.0%** |
| &nbsp;&nbsp;&nbsp;ABB, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4905 | &nbsp;&nbsp;&nbsp;&nbsp; 323196 |
| &nbsp;&nbsp;&nbsp;Amrize, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1017 | &nbsp;&nbsp;&nbsp;&nbsp; 51410 |
| &nbsp;&nbsp;&nbsp;Chocoladefabriken Lindt & Spruengli AG (Participation Certificate) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109 | &nbsp;&nbsp;&nbsp;&nbsp; 1607658 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Schroders VCP Global Allocation Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| &nbsp;&nbsp;&nbsp;Chubb, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1915 | &nbsp;&nbsp;$509467 |
| &nbsp;&nbsp;&nbsp;Cie Financiere Richemont SA, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7990 | &nbsp;&nbsp;&nbsp;&nbsp; 1312239 |
| &nbsp;&nbsp;&nbsp;Garmin, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp; 67816 |
| &nbsp;&nbsp;&nbsp;Givaudan SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp; 50393 |
| &nbsp;&nbsp;&nbsp;Holcim AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1017 | &nbsp;&nbsp;&nbsp;&nbsp; 81360 |
| &nbsp;&nbsp;&nbsp;Lonza Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1642 | &nbsp;&nbsp;&nbsp;&nbsp; 1156324 |
| &nbsp;&nbsp;&nbsp;Nestle SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3381 | &nbsp;&nbsp;&nbsp;&nbsp; 295955 |
| &nbsp;&nbsp;&nbsp;Novartis AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2988 | &nbsp;&nbsp;&nbsp;&nbsp; 346494 |
| &nbsp;&nbsp;&nbsp;Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6034 | &nbsp;&nbsp;&nbsp;&nbsp; 1909931 |
| &nbsp;&nbsp;&nbsp;Sandoz Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999 | &nbsp;&nbsp;&nbsp;&nbsp; 57474 |
| &nbsp;&nbsp;&nbsp;Sika AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146 | &nbsp;&nbsp;&nbsp;&nbsp; 34619 |
| &nbsp;&nbsp;&nbsp;Sulzer AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304 | &nbsp;&nbsp;&nbsp;&nbsp; 58835 |
| &nbsp;&nbsp;&nbsp;Swiss Re AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244 | &nbsp;&nbsp;&nbsp;&nbsp; 43933 |
| &nbsp;&nbsp;&nbsp;Swissquote Group Holding SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp;&nbsp;&nbsp; 17429 |
| &nbsp;&nbsp;&nbsp;UBS Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5462 | &nbsp;&nbsp;&nbsp;&nbsp; 204695 |
| &nbsp;&nbsp;&nbsp;Zurich Insurance Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352 | &nbsp;&nbsp;&nbsp;&nbsp; 241210 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8370438 |
| **Taiwan — 0.9%** | **Taiwan — 0.9%** | **Taiwan — 0.9%** |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co., Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15829 | &nbsp;&nbsp;&nbsp;&nbsp; 3824603 |
| **United Kingdom — 3.7%** | **United Kingdom — 3.7%** | **United Kingdom — 3.7%** |
| &nbsp;&nbsp;&nbsp;Angl0d American PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2284 | &nbsp;&nbsp;&nbsp;&nbsp; 64791 |
| &nbsp;&nbsp;&nbsp;ARM Holdings PLC ADR† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3354 | &nbsp;&nbsp;&nbsp;&nbsp; 474172 |
| &nbsp;&nbsp;&nbsp;Ashtead Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;693 | &nbsp;&nbsp;&nbsp;&nbsp; 46474 |
| &nbsp;&nbsp;&nbsp;AstraZeneca PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10197 | &nbsp;&nbsp;&nbsp;&nbsp; 1524965 |
| &nbsp;&nbsp;&nbsp;BAE Systems PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2789 | &nbsp;&nbsp;&nbsp;&nbsp; 66447 |
| &nbsp;&nbsp;&nbsp;Barclays PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29029 | &nbsp;&nbsp;&nbsp;&nbsp; 142346 |
| &nbsp;&nbsp;&nbsp;BP PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26689 | &nbsp;&nbsp;&nbsp;&nbsp; 142661 |
| &nbsp;&nbsp;&nbsp;Bunzl PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26196 | &nbsp;&nbsp;&nbsp;&nbsp; 779788 |
| &nbsp;&nbsp;&nbsp;Compass Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1169 | &nbsp;&nbsp;&nbsp;&nbsp; 41143 |
| &nbsp;&nbsp;&nbsp;Diageo PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2546 | &nbsp;&nbsp;&nbsp;&nbsp; 62305 |
| &nbsp;&nbsp;&nbsp;GSK PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6519 | &nbsp;&nbsp;&nbsp;&nbsp; 122080 |
| &nbsp;&nbsp;&nbsp;Haleon PLC | &nbsp;&nbsp;&nbsp;&nbsp;287383 | &nbsp;&nbsp;&nbsp;&nbsp; 1364419 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings PLC (OTC US) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27850 | &nbsp;&nbsp;&nbsp;&nbsp; 339407 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings PLC (SEHK) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp; 34296 |
| &nbsp;&nbsp;&nbsp;IMI PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp;&nbsp;&nbsp; 18781 |
| &nbsp;&nbsp;&nbsp;InterContinental Hotels Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336 | &nbsp;&nbsp;&nbsp;&nbsp; 38889 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group PLC | 1353027 | &nbsp;&nbsp;&nbsp;&nbsp; 1390189 |
| &nbsp;&nbsp;&nbsp;London Stock Exchange Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;&nbsp;&nbsp; 77655 |
| &nbsp;&nbsp;&nbsp;National Grid PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8545 | &nbsp;&nbsp;&nbsp;&nbsp; 119620 |
| &nbsp;&nbsp;&nbsp;NatWest Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7691 | &nbsp;&nbsp;&nbsp;&nbsp; 53528 |
| &nbsp;&nbsp;&nbsp;Next PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;&nbsp; 27475 |
| &nbsp;&nbsp;&nbsp;Prudential PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2645 | &nbsp;&nbsp;&nbsp;&nbsp; 33667 |
| &nbsp;&nbsp;&nbsp;Reckitt Benckiser Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18855 | &nbsp;&nbsp;&nbsp;&nbsp; 1412376 |
| &nbsp;&nbsp;&nbsp;RELX PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27177 | &nbsp;&nbsp;&nbsp;&nbsp; 1412682 |
| &nbsp;&nbsp;&nbsp;Rio Tinto PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2415 | &nbsp;&nbsp;&nbsp;&nbsp; 143633 |
| &nbsp;&nbsp;&nbsp;Rolls-Royce Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10826 | &nbsp;&nbsp;&nbsp;&nbsp; 153268 |
| &nbsp;&nbsp;&nbsp;Sage Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60360 | &nbsp;&nbsp;&nbsp;&nbsp; 972516 |
| &nbsp;&nbsp;&nbsp;Shell PLC (LSE) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9691 | &nbsp;&nbsp;&nbsp;&nbsp; 346965 |
| &nbsp;&nbsp;&nbsp;Shell PLC (XAMS) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51407 | &nbsp;&nbsp;&nbsp;&nbsp; 1847674 |
| &nbsp;&nbsp;&nbsp;Standard Chartered PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5560 | &nbsp;&nbsp;&nbsp;&nbsp; 99899 |
| &nbsp;&nbsp;&nbsp;Unilever PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33204 | &nbsp;&nbsp;&nbsp;&nbsp; 1932946 |
| &nbsp;&nbsp;&nbsp;Vodafone Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64217 | &nbsp;&nbsp;&nbsp;&nbsp; 69560 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;15356617 |
| **United States — 30.5%** | **United States — 30.5%** | **United States — 30.5%** |
| &nbsp;&nbsp;&nbsp;3M Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp;&nbsp;&nbsp; 145489 |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790 | &nbsp;&nbsp;&nbsp;&nbsp; 352070 |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3907 | &nbsp;&nbsp;&nbsp;&nbsp; 738501 |
| &nbsp;&nbsp;&nbsp;Acuity, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97 | &nbsp;&nbsp;&nbsp;&nbsp; 30201 |
| &nbsp;&nbsp;&nbsp;Adobe, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1099 | &nbsp;&nbsp;&nbsp;&nbsp; 393101 |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6512 | &nbsp;&nbsp;&nbsp;&nbsp; 1148131 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp;Aflac, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815 | &nbsp;&nbsp;$80978 |
| &nbsp;&nbsp;&nbsp;Agilent Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489 | &nbsp;&nbsp;&nbsp;&nbsp; 56142 |
| &nbsp;&nbsp;&nbsp;Agree Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;746 | &nbsp;&nbsp;&nbsp;&nbsp; 53488 |
| &nbsp;&nbsp;&nbsp;Air Products & Chemicals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192 | &nbsp;&nbsp;&nbsp;&nbsp; 55273 |
| &nbsp;&nbsp;&nbsp;Airbnb, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272 | &nbsp;&nbsp;&nbsp;&nbsp; 36016 |
| &nbsp;&nbsp;&nbsp;Align Technology, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp;&nbsp;&nbsp; 8515 |
| &nbsp;&nbsp;&nbsp;Allstate Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229 | &nbsp;&nbsp;&nbsp;&nbsp; 46544 |
| &nbsp;&nbsp;&nbsp;Alnylam Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142 | &nbsp;&nbsp;&nbsp;&nbsp; 55698 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18328 | &nbsp;&nbsp;&nbsp;&nbsp; 3517143 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10738 | &nbsp;&nbsp;&nbsp;&nbsp; 2070931 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21343 | &nbsp;&nbsp;&nbsp;&nbsp; 4996610 |
| &nbsp;&nbsp;&nbsp;American Express Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3177 | &nbsp;&nbsp;&nbsp;&nbsp; 950908 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424 | &nbsp;&nbsp;&nbsp;&nbsp; 88357 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp;&nbsp; 121775 |
| &nbsp;&nbsp;&nbsp;Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742 | &nbsp;&nbsp;&nbsp;&nbsp; 218964 |
| &nbsp;&nbsp;&nbsp;Amphenol Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1427 | &nbsp;&nbsp;&nbsp;&nbsp; 151990 |
| &nbsp;&nbsp;&nbsp;Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;801 | &nbsp;&nbsp;&nbsp;&nbsp; 179929 |
| &nbsp;&nbsp;&nbsp;Apollo Global Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427 | &nbsp;&nbsp;&nbsp;&nbsp; 62052 |
| &nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28466 | &nbsp;&nbsp;&nbsp;&nbsp; 5908688 |
| &nbsp;&nbsp;&nbsp;Applied Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1276 | &nbsp;&nbsp;&nbsp;&nbsp; 229757 |
| &nbsp;&nbsp;&nbsp;AppLovin Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271 | &nbsp;&nbsp;&nbsp;&nbsp; 105880 |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;693 | &nbsp;&nbsp;&nbsp;&nbsp; 37547 |
| &nbsp;&nbsp;&nbsp;Arista Networks, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7744 | &nbsp;&nbsp;&nbsp;&nbsp; 954216 |
| &nbsp;&nbsp;&nbsp;Armstrong World Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333 | &nbsp;&nbsp;&nbsp;&nbsp; 62661 |
| &nbsp;&nbsp;&nbsp;Assurant, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157 | &nbsp;&nbsp;&nbsp;&nbsp; 29406 |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11991 | &nbsp;&nbsp;&nbsp;&nbsp; 328673 |
| &nbsp;&nbsp;&nbsp;ATI, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884 | &nbsp;&nbsp;&nbsp;&nbsp; 68015 |
| &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473 | &nbsp;&nbsp;&nbsp;&nbsp; 73750 |
| &nbsp;&nbsp;&nbsp;Autodesk, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp;&nbsp;&nbsp; 119728 |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714 | &nbsp;&nbsp;&nbsp;&nbsp; 220983 |
| &nbsp;&nbsp;&nbsp;AutoNation, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp; 15604 |
| &nbsp;&nbsp;&nbsp;AutoZone, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;&nbsp;&nbsp; 165809 |
| &nbsp;&nbsp;&nbsp;Axon Enterprise, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124 | &nbsp;&nbsp;&nbsp;&nbsp; 93681 |
| &nbsp;&nbsp;&nbsp;Baker Hughes Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1264 | &nbsp;&nbsp;&nbsp;&nbsp; 56943 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10323 | &nbsp;&nbsp;&nbsp;&nbsp; 487968 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1956 | &nbsp;&nbsp;&nbsp;&nbsp; 198436 |
| &nbsp;&nbsp;&nbsp;Baxter International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538 | &nbsp;&nbsp;&nbsp;&nbsp; 11707 |
| &nbsp;&nbsp;&nbsp;Becton Dickinson & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278 | &nbsp;&nbsp;&nbsp;&nbsp; 49553 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc., Class B† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3805 | &nbsp;&nbsp;&nbsp;&nbsp; 1795503 |
| &nbsp;&nbsp;&nbsp;Biogen, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92 | &nbsp;&nbsp;&nbsp;&nbsp; 11776 |
| &nbsp;&nbsp;&nbsp;Blackrock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664 | &nbsp;&nbsp;&nbsp;&nbsp; 734391 |
| &nbsp;&nbsp;&nbsp;Blackstone, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1087 | &nbsp;&nbsp;&nbsp;&nbsp; 188008 |
| &nbsp;&nbsp;&nbsp;Block, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1047 | &nbsp;&nbsp;&nbsp;&nbsp; 80891 |
| &nbsp;&nbsp;&nbsp;Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp; 1981462 |
| &nbsp;&nbsp;&nbsp;Boston Scientific Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8109 | &nbsp;&nbsp;&nbsp;&nbsp; 850796 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15643 | &nbsp;&nbsp;&nbsp;&nbsp; 677498 |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10595 | &nbsp;&nbsp;&nbsp;&nbsp; 3111751 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049 | &nbsp;&nbsp;&nbsp;&nbsp; 382434 |
| &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1319 | &nbsp;&nbsp;&nbsp;&nbsp; 283585 |
| &nbsp;&nbsp;&nbsp;Cardinal Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp; 128056 |
| &nbsp;&nbsp;&nbsp;CareTrust REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816 | &nbsp;&nbsp;&nbsp;&nbsp; 25949 |
| &nbsp;&nbsp;&nbsp;Cargurus, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463 | &nbsp;&nbsp;&nbsp;&nbsp; 15196 |
| &nbsp;&nbsp;&nbsp;Carpenter Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 24939 |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4685 | &nbsp;&nbsp;&nbsp;&nbsp; 321485 |
| &nbsp;&nbsp;&nbsp;Carvana Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp; 22630 |
| &nbsp;&nbsp;&nbsp;Caterpillar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787 | &nbsp;&nbsp;&nbsp;&nbsp; 344722 |
| &nbsp;&nbsp;&nbsp;CBRE Group, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1111 | &nbsp;&nbsp;&nbsp;&nbsp; 173027 |
| &nbsp;&nbsp;&nbsp;CDW Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239 | &nbsp;&nbsp;&nbsp;&nbsp; 41677 |
| &nbsp;&nbsp;&nbsp;Cencora, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489 | &nbsp;&nbsp;&nbsp;&nbsp; 139893 |
| &nbsp;&nbsp;&nbsp;Centene Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647 | &nbsp;&nbsp;&nbsp;&nbsp; 16867 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1249 | &nbsp;&nbsp;&nbsp;&nbsp; 48486 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2548 | &nbsp;&nbsp;&nbsp;&nbsp; 249016 |
| &nbsp;&nbsp;&nbsp;Charter Communications, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107 | &nbsp;&nbsp;&nbsp;&nbsp; 28822 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Schroders VCP Global Allocation Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

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| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp;Cheniere Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373 | &nbsp;&nbsp;$87983 |
| &nbsp;&nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3068 | &nbsp;&nbsp;&nbsp;&nbsp; 465232 |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2049 | &nbsp;&nbsp;&nbsp;&nbsp; 87861 |
| &nbsp;&nbsp;&nbsp;Cigna Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp; 121658 |
| &nbsp;&nbsp;&nbsp;Cintas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2214 | &nbsp;&nbsp;&nbsp;&nbsp; 492726 |
| &nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7290 | &nbsp;&nbsp;&nbsp;&nbsp; 496303 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3083 | &nbsp;&nbsp;&nbsp;&nbsp; 288877 |
| &nbsp;&nbsp;&nbsp;Clorox Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148 | &nbsp;&nbsp;&nbsp;&nbsp; 18583 |
| &nbsp;&nbsp;&nbsp;Cloudflare, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572 | &nbsp;&nbsp;&nbsp;&nbsp; 118793 |
| &nbsp;&nbsp;&nbsp;CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp;&nbsp; 68179 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14612 | &nbsp;&nbsp;&nbsp;&nbsp; 992009 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382 | &nbsp;&nbsp;&nbsp;&nbsp; 27412 |
| &nbsp;&nbsp;&nbsp;Coherent Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162 | &nbsp;&nbsp;&nbsp;&nbsp; 17431 |
| &nbsp;&nbsp;&nbsp;Coinbase Global, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384 | &nbsp;&nbsp;&nbsp;&nbsp; 145060 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5481 | &nbsp;&nbsp;&nbsp;&nbsp; 459582 |
| &nbsp;&nbsp;&nbsp;Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3634 | &nbsp;&nbsp;&nbsp;&nbsp; 120758 |
| &nbsp;&nbsp;&nbsp;Conagra Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1358 | &nbsp;&nbsp;&nbsp;&nbsp; 24797 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5301 | &nbsp;&nbsp;&nbsp;&nbsp; 505397 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1041 | &nbsp;&nbsp;&nbsp;&nbsp; 107743 |
| &nbsp;&nbsp;&nbsp;Constellation Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559 | &nbsp;&nbsp;&nbsp;&nbsp; 194443 |
| &nbsp;&nbsp;&nbsp;Copart, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551 | &nbsp;&nbsp;&nbsp;&nbsp; 24977 |
| &nbsp;&nbsp;&nbsp;Corning, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2154 | &nbsp;&nbsp;&nbsp;&nbsp; 136219 |
| &nbsp;&nbsp;&nbsp;Corteva, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1473 | &nbsp;&nbsp;&nbsp;&nbsp; 106247 |
| &nbsp;&nbsp;&nbsp;CoStar Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558 | &nbsp;&nbsp;&nbsp;&nbsp; 53116 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001 | &nbsp;&nbsp;&nbsp;&nbsp; 940580 |
| &nbsp;&nbsp;&nbsp;Coterra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19579 | &nbsp;&nbsp;&nbsp;&nbsp; 477532 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458 | &nbsp;&nbsp;&nbsp;&nbsp; 208193 |
| &nbsp;&nbsp;&nbsp;Crown Castle, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331 | &nbsp;&nbsp;&nbsp;&nbsp; 34785 |
| &nbsp;&nbsp;&nbsp;CSX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2058 | &nbsp;&nbsp;&nbsp;&nbsp; 73141 |
| &nbsp;&nbsp;&nbsp;Cummins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174 | &nbsp;&nbsp;&nbsp;&nbsp; 63966 |
| &nbsp;&nbsp;&nbsp;Curtiss-Wright Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp;&nbsp;&nbsp; 27452 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;794 | &nbsp;&nbsp;&nbsp;&nbsp; 49307 |
| &nbsp;&nbsp;&nbsp;D.R. Horton, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782 | &nbsp;&nbsp;&nbsp;&nbsp; 111701 |
| &nbsp;&nbsp;&nbsp;Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;976 | &nbsp;&nbsp;&nbsp;&nbsp; 192428 |
| &nbsp;&nbsp;&nbsp;Datadog, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654 | &nbsp;&nbsp;&nbsp;&nbsp; 91547 |
| &nbsp;&nbsp;&nbsp;Deere & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1081 | &nbsp;&nbsp;&nbsp;&nbsp; 566844 |
| &nbsp;&nbsp;&nbsp;Dell Technologies, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229 | &nbsp;&nbsp;&nbsp;&nbsp; 30386 |
| &nbsp;&nbsp;&nbsp;Dexcom, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459 | &nbsp;&nbsp;&nbsp;&nbsp; 37073 |
| &nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690 | &nbsp;&nbsp;&nbsp;&nbsp; 121744 |
| &nbsp;&nbsp;&nbsp;DocuSign, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322 | &nbsp;&nbsp;&nbsp;&nbsp; 24356 |
| &nbsp;&nbsp;&nbsp;Dollar General Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153 | &nbsp;&nbsp;&nbsp;&nbsp; 16050 |
| &nbsp;&nbsp;&nbsp;Dollar Tree, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182 | &nbsp;&nbsp;&nbsp;&nbsp; 20666 |
| &nbsp;&nbsp;&nbsp;Dominion Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;727 | &nbsp;&nbsp;&nbsp;&nbsp; 42493 |
| &nbsp;&nbsp;&nbsp;DoorDash, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147 | &nbsp;&nbsp;&nbsp;&nbsp; 36787 |
| &nbsp;&nbsp;&nbsp;Dow, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1124 | &nbsp;&nbsp;&nbsp;&nbsp; 26178 |
| &nbsp;&nbsp;&nbsp;Duke Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935 | &nbsp;&nbsp;&nbsp;&nbsp; 113733 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662 | &nbsp;&nbsp;&nbsp;&nbsp; 47598 |
| &nbsp;&nbsp;&nbsp;eBay, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582 | &nbsp;&nbsp;&nbsp;&nbsp; 53398 |
| &nbsp;&nbsp;&nbsp;Ecolab, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1564 | &nbsp;&nbsp;&nbsp;&nbsp; 409393 |
| &nbsp;&nbsp;&nbsp;Edison International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682 | &nbsp;&nbsp;&nbsp;&nbsp; 35546 |
| &nbsp;&nbsp;&nbsp;Edwards Lifesciences Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;905 | &nbsp;&nbsp;&nbsp;&nbsp; 71776 |
| &nbsp;&nbsp;&nbsp;Electronic Arts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214 | &nbsp;&nbsp;&nbsp;&nbsp; 32633 |
| &nbsp;&nbsp;&nbsp;Elevance Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327 | &nbsp;&nbsp;&nbsp;&nbsp; 92567 |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2104 | &nbsp;&nbsp;&nbsp;&nbsp; 1557107 |
| &nbsp;&nbsp;&nbsp;EMCOR Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp;&nbsp;&nbsp; 52709 |
| &nbsp;&nbsp;&nbsp;Emerson Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3059 | &nbsp;&nbsp;&nbsp;&nbsp; 445115 |
| &nbsp;&nbsp;&nbsp;EOG Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1915 | &nbsp;&nbsp;&nbsp;&nbsp; 229838 |
| &nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181 | &nbsp;&nbsp;&nbsp;&nbsp; 142116 |
| &nbsp;&nbsp;&nbsp;Equity LifeStyle Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1166 | &nbsp;&nbsp;&nbsp;&nbsp; 69867 |
| &nbsp;&nbsp;&nbsp;ESCO Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143 | &nbsp;&nbsp;&nbsp;&nbsp; 27699 |
| &nbsp;&nbsp;&nbsp;Estee Lauder Cos., Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3011 | &nbsp;&nbsp;&nbsp;&nbsp; 281047 |
| &nbsp;&nbsp;&nbsp;Eversource Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824 | &nbsp;&nbsp;&nbsp;&nbsp; 54466 |

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| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp;Exelixis, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1237 | &nbsp;&nbsp;$44804 |
| &nbsp;&nbsp;&nbsp;Exelon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2394 | &nbsp;&nbsp;&nbsp;&nbsp; 107586 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6138 | &nbsp;&nbsp;&nbsp;&nbsp; 685246 |
| &nbsp;&nbsp;&nbsp;Fair Isaac Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161 | &nbsp;&nbsp;&nbsp;&nbsp; 231312 |
| &nbsp;&nbsp;&nbsp;Fastenal Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8140 | &nbsp;&nbsp;&nbsp;&nbsp; 375498 |
| &nbsp;&nbsp;&nbsp;FedEx Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377 | &nbsp;&nbsp;&nbsp;&nbsp; 84256 |
| &nbsp;&nbsp;&nbsp;Ferguson Enterprises, Inc. (LSE) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp; 62604 |
| &nbsp;&nbsp;&nbsp;Ferguson Enterprises, Inc. (NYSE) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167 | &nbsp;&nbsp;&nbsp;&nbsp; 37296 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504 | &nbsp;&nbsp;&nbsp;&nbsp; 40023 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624 | &nbsp;&nbsp;&nbsp;&nbsp; 25940 |
| &nbsp;&nbsp;&nbsp;First Citizens BancShares, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp; 19948 |
| &nbsp;&nbsp;&nbsp;First Horizon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790 | &nbsp;&nbsp;&nbsp;&nbsp; 17230 |
| &nbsp;&nbsp;&nbsp;First Solar, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1695 | &nbsp;&nbsp;&nbsp;&nbsp; 296167 |
| &nbsp;&nbsp;&nbsp;Fiserv, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931 | &nbsp;&nbsp;&nbsp;&nbsp; 129353 |
| &nbsp;&nbsp;&nbsp;Ford Motor Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4275 | &nbsp;&nbsp;&nbsp;&nbsp; 47324 |
| &nbsp;&nbsp;&nbsp;Fortinet, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6105 | &nbsp;&nbsp;&nbsp;&nbsp; 609889 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7279 | &nbsp;&nbsp;&nbsp;&nbsp; 292907 |
| &nbsp;&nbsp;&nbsp;Frontdoor, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279 | &nbsp;&nbsp;&nbsp;&nbsp; 16321 |
| &nbsp;&nbsp;&nbsp;Gartner, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884 | &nbsp;&nbsp;&nbsp;&nbsp; 299367 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404 | &nbsp;&nbsp;&nbsp;&nbsp; 28813 |
| &nbsp;&nbsp;&nbsp;GE Vernova, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1894 | &nbsp;&nbsp;&nbsp;&nbsp; 1250589 |
| &nbsp;&nbsp;&nbsp;Gen Digital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1304 | &nbsp;&nbsp;&nbsp;&nbsp; 38455 |
| &nbsp;&nbsp;&nbsp;General Dynamics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316 | &nbsp;&nbsp;&nbsp;&nbsp; 98469 |
| &nbsp;&nbsp;&nbsp;General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4995 | &nbsp;&nbsp;&nbsp;&nbsp; 1354045 |
| &nbsp;&nbsp;&nbsp;General Mills, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647 | &nbsp;&nbsp;&nbsp;&nbsp; 31690 |
| &nbsp;&nbsp;&nbsp;General Motors Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1527 | &nbsp;&nbsp;&nbsp;&nbsp; 81450 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1561 | &nbsp;&nbsp;&nbsp;&nbsp; 175285 |
| &nbsp;&nbsp;&nbsp;Global Payments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363 | &nbsp;&nbsp;&nbsp;&nbsp; 29022 |
| &nbsp;&nbsp;&nbsp;Globe Life, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218 | &nbsp;&nbsp;&nbsp;&nbsp; 30622 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494 | &nbsp;&nbsp;&nbsp;&nbsp; 357453 |
| &nbsp;&nbsp;&nbsp;Hartford Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552 | &nbsp;&nbsp;&nbsp;&nbsp; 68663 |
| &nbsp;&nbsp;&nbsp;HCA Healthcare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;926 | &nbsp;&nbsp;&nbsp;&nbsp; 327795 |
| &nbsp;&nbsp;&nbsp;HEICO Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304 | &nbsp;&nbsp;&nbsp;&nbsp; 99347 |
| &nbsp;&nbsp;&nbsp;Hess Midstream LP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1296 | &nbsp;&nbsp;&nbsp;&nbsp; 56415 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp;&nbsp;&nbsp; 12207 |
| &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp; 75062 |
| &nbsp;&nbsp;&nbsp;Hims & Hers Health, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381 | &nbsp;&nbsp;&nbsp;&nbsp; 25215 |
| &nbsp;&nbsp;&nbsp;Home Depot, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2324 | &nbsp;&nbsp;&nbsp;&nbsp; 854093 |
| &nbsp;&nbsp;&nbsp;Honeywell International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;531 | &nbsp;&nbsp;&nbsp;&nbsp; 118068 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5262 | &nbsp;&nbsp;&nbsp;&nbsp; 945950 |
| &nbsp;&nbsp;&nbsp;HP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1581 | &nbsp;&nbsp;&nbsp;&nbsp; 39209 |
| &nbsp;&nbsp;&nbsp;HubSpot, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74 | &nbsp;&nbsp;&nbsp;&nbsp; 38454 |
| &nbsp;&nbsp;&nbsp;Humana, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132 | &nbsp;&nbsp;&nbsp;&nbsp; 32983 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1834 | &nbsp;&nbsp;&nbsp;&nbsp; 30133 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;679 | &nbsp;&nbsp;&nbsp;&nbsp; 362796 |
| &nbsp;&nbsp;&nbsp;Illinois Tool Works, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;766 | &nbsp;&nbsp;&nbsp;&nbsp; 196073 |
| &nbsp;&nbsp;&nbsp;Illumina, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201 | &nbsp;&nbsp;&nbsp;&nbsp; 20645 |
| &nbsp;&nbsp;&nbsp;Incyte Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281 | &nbsp;&nbsp;&nbsp;&nbsp; 21044 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5843 | &nbsp;&nbsp;&nbsp;&nbsp; 115691 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1034 | &nbsp;&nbsp;&nbsp;&nbsp; 191114 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2513 | &nbsp;&nbsp;&nbsp;&nbsp; 636166 |
| &nbsp;&nbsp;&nbsp;International Flavors & Fragrances, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp; 17047 |
| &nbsp;&nbsp;&nbsp;International Paper Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1496 | &nbsp;&nbsp;&nbsp;&nbsp; 69923 |
| &nbsp;&nbsp;&nbsp;Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1107 | &nbsp;&nbsp;&nbsp;&nbsp; 869139 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080 | &nbsp;&nbsp;&nbsp;&nbsp; 519577 |
| &nbsp;&nbsp;&nbsp;IQVIA Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp;&nbsp; 38101 |
| &nbsp;&nbsp;&nbsp;Jabil, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp; 62488 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3361 | &nbsp;&nbsp;&nbsp;&nbsp; 553691 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8462 | &nbsp;&nbsp;&nbsp;&nbsp; 2506783 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1690 | &nbsp;&nbsp;&nbsp;&nbsp; 55178 |
| &nbsp;&nbsp;&nbsp;KeyCorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1271 | &nbsp;&nbsp;&nbsp;&nbsp; 22776 |
| &nbsp;&nbsp;&nbsp;Keysight Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226 | &nbsp;&nbsp;&nbsp;&nbsp; 37044 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745 | &nbsp;&nbsp;&nbsp;&nbsp; 92842 |

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Schroders VCP Global Allocation Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3086 | &nbsp;&nbsp;$65516 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3613 | &nbsp;&nbsp;&nbsp;&nbsp; 101381 |
| &nbsp;&nbsp;&nbsp;KKR & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262 | &nbsp;&nbsp;&nbsp;&nbsp; 38404 |
| &nbsp;&nbsp;&nbsp;KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524 | &nbsp;&nbsp;&nbsp;&nbsp; 460612 |
| &nbsp;&nbsp;&nbsp;Kroger Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1795 | &nbsp;&nbsp;&nbsp;&nbsp; 125829 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4230 | &nbsp;&nbsp;&nbsp;&nbsp; 401173 |
| &nbsp;&nbsp;&nbsp;Las Vegas Sands Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537 | &nbsp;&nbsp;&nbsp;&nbsp; 28139 |
| &nbsp;&nbsp;&nbsp;Leidos Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933 | &nbsp;&nbsp;&nbsp;&nbsp; 148953 |
| &nbsp;&nbsp;&nbsp;Lennar Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503 | &nbsp;&nbsp;&nbsp;&nbsp; 56427 |
| &nbsp;&nbsp;&nbsp;Liberty Media Corp.-Liberty Formula One, Class C† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14683 | &nbsp;&nbsp;&nbsp;&nbsp; 1473439 |
| &nbsp;&nbsp;&nbsp;Live Nation Entertainment, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1978 | &nbsp;&nbsp;&nbsp;&nbsp; 292151 |
| &nbsp;&nbsp;&nbsp;Loews Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1178 | &nbsp;&nbsp;&nbsp;&nbsp; 106656 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;686 | &nbsp;&nbsp;&nbsp;&nbsp; 153369 |
| &nbsp;&nbsp;&nbsp;Lululemon Athletica, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88 | &nbsp;&nbsp;&nbsp;&nbsp; 17647 |
| &nbsp;&nbsp;&nbsp;M&T Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201 | &nbsp;&nbsp;&nbsp;&nbsp; 37929 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321 | &nbsp;&nbsp;&nbsp;&nbsp; 54631 |
| &nbsp;&nbsp;&nbsp;Markel Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46 | &nbsp;&nbsp;&nbsp;&nbsp; 92381 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742 | &nbsp;&nbsp;&nbsp;&nbsp; 147806 |
| &nbsp;&nbsp;&nbsp;Marvell Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1473 | &nbsp;&nbsp;&nbsp;&nbsp; 118385 |
| &nbsp;&nbsp;&nbsp;MasTec, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168 | &nbsp;&nbsp;&nbsp;&nbsp; 31787 |
| &nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002 | &nbsp;&nbsp;&nbsp;&nbsp; 1134073 |
| &nbsp;&nbsp;&nbsp;McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;976 | &nbsp;&nbsp;&nbsp;&nbsp; 292868 |
| &nbsp;&nbsp;&nbsp;McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp;&nbsp;&nbsp; 232336 |
| &nbsp;&nbsp;&nbsp;MercadoLibre, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612 | &nbsp;&nbsp;&nbsp;&nbsp; 1452821 |
| &nbsp;&nbsp;&nbsp;Merck & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3132 | &nbsp;&nbsp;&nbsp;&nbsp; 244672 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5456 | &nbsp;&nbsp;&nbsp;&nbsp; 4219889 |
| &nbsp;&nbsp;&nbsp;MetLife, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592 | &nbsp;&nbsp;&nbsp;&nbsp; 44962 |
| &nbsp;&nbsp;&nbsp;Mettler-Toledo International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp; 13570 |
| &nbsp;&nbsp;&nbsp;Microchip Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597 | &nbsp;&nbsp;&nbsp;&nbsp; 40351 |
| &nbsp;&nbsp;&nbsp;Micron Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1596 | &nbsp;&nbsp;&nbsp;&nbsp; 174187 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16804 | &nbsp;&nbsp;&nbsp;&nbsp; 8964934 |
| &nbsp;&nbsp;&nbsp;MicroStrategy, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194 | &nbsp;&nbsp;&nbsp;&nbsp; 77961 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2313 | &nbsp;&nbsp;&nbsp;&nbsp; 149628 |
| &nbsp;&nbsp;&nbsp;MongoDB, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp;&nbsp;&nbsp; 13322 |
| &nbsp;&nbsp;&nbsp;Monolithic Power Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp; 29872 |
| &nbsp;&nbsp;&nbsp;Monster Beverage Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5305 | &nbsp;&nbsp;&nbsp;&nbsp; 311669 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1248 | &nbsp;&nbsp;&nbsp;&nbsp; 643631 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5645 | &nbsp;&nbsp;&nbsp;&nbsp; 804187 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;778 | &nbsp;&nbsp;&nbsp;&nbsp; 341526 |
| &nbsp;&nbsp;&nbsp;MSCI, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143 | &nbsp;&nbsp;&nbsp;&nbsp; 80274 |
| &nbsp;&nbsp;&nbsp;Netflix, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1597 | &nbsp;&nbsp;&nbsp;&nbsp; 1851562 |
| &nbsp;&nbsp;&nbsp;Newmont Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1043 | &nbsp;&nbsp;&nbsp;&nbsp; 64770 |
| &nbsp;&nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9557 | &nbsp;&nbsp;&nbsp;&nbsp; 679120 |
| &nbsp;&nbsp;&nbsp;NIKE, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1431 | &nbsp;&nbsp;&nbsp;&nbsp; 106881 |
| &nbsp;&nbsp;&nbsp;NiSource, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1721 | &nbsp;&nbsp;&nbsp;&nbsp; 73056 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181 | &nbsp;&nbsp;&nbsp;&nbsp; 50318 |
| &nbsp;&nbsp;&nbsp;NRG Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329 | &nbsp;&nbsp;&nbsp;&nbsp; 55009 |
| &nbsp;&nbsp;&nbsp;Nucor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485 | &nbsp;&nbsp;&nbsp;&nbsp; 69389 |
| &nbsp;&nbsp;&nbsp;Nutanix, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1131 | &nbsp;&nbsp;&nbsp;&nbsp; 85017 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55339 | &nbsp;&nbsp;&nbsp;&nbsp; 9843148 |
| &nbsp;&nbsp;&nbsp;NVR, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp; 30198 |
| &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459 | &nbsp;&nbsp;&nbsp;&nbsp; 20168 |
| &nbsp;&nbsp;&nbsp;Okta, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;642 | &nbsp;&nbsp;&nbsp;&nbsp; 62788 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257 | &nbsp;&nbsp;&nbsp;&nbsp; 38357 |
| &nbsp;&nbsp;&nbsp;Omega Healthcare Investors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1907 | &nbsp;&nbsp;&nbsp;&nbsp; 74182 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4721 | &nbsp;&nbsp;&nbsp;&nbsp; 1198048 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5870 | &nbsp;&nbsp;&nbsp;&nbsp; 577138 |
| &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1471 | &nbsp;&nbsp;&nbsp;&nbsp; 126050 |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144 | &nbsp;&nbsp;&nbsp;&nbsp; 27900 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3284 | &nbsp;&nbsp;&nbsp;&nbsp; 520021 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1213 | &nbsp;&nbsp;&nbsp;&nbsp; 210577 |
| &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;844 | &nbsp;&nbsp;&nbsp;&nbsp; 617724 |

---

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| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp;Paychex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389 | &nbsp;&nbsp;$56144 |
| &nbsp;&nbsp;&nbsp;Paycom Software, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57 | &nbsp;&nbsp;&nbsp;&nbsp; 13198 |
| &nbsp;&nbsp;&nbsp;PayPal Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1372 | &nbsp;&nbsp;&nbsp;&nbsp; 94339 |
| &nbsp;&nbsp;&nbsp;PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2028 | &nbsp;&nbsp;&nbsp;&nbsp; 279702 |
| &nbsp;&nbsp;&nbsp;Pfizer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7451 | &nbsp;&nbsp;&nbsp;&nbsp; 173534 |
| &nbsp;&nbsp;&nbsp;Phillips 66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424 | &nbsp;&nbsp;&nbsp;&nbsp; 52398 |
| &nbsp;&nbsp;&nbsp;Pinterest, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1483 | &nbsp;&nbsp;&nbsp;&nbsp; 57244 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731 | &nbsp;&nbsp;&nbsp;&nbsp; 139087 |
| &nbsp;&nbsp;&nbsp;Primerica, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87 | &nbsp;&nbsp;&nbsp;&nbsp; 23110 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8144 | &nbsp;&nbsp;&nbsp;&nbsp; 1225428 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918 | &nbsp;&nbsp;&nbsp;&nbsp; 222193 |
| &nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1480 | &nbsp;&nbsp;&nbsp;&nbsp; 158034 |
| &nbsp;&nbsp;&nbsp;Prudential Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153 | &nbsp;&nbsp;&nbsp;&nbsp; 15848 |
| &nbsp;&nbsp;&nbsp;Public Storage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp; 44870 |
| &nbsp;&nbsp;&nbsp;PulteGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296 | &nbsp;&nbsp;&nbsp;&nbsp; 33424 |
| &nbsp;&nbsp;&nbsp;Pure Storage, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414 | &nbsp;&nbsp;&nbsp;&nbsp; 24641 |
| &nbsp;&nbsp;&nbsp;QUALCOMM, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1639 | &nbsp;&nbsp;&nbsp;&nbsp; 240540 |
| &nbsp;&nbsp;&nbsp;Quanta Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191 | &nbsp;&nbsp;&nbsp;&nbsp; 77571 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640 | &nbsp;&nbsp;&nbsp;&nbsp; 107142 |
| &nbsp;&nbsp;&nbsp;Rambus, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282 | &nbsp;&nbsp;&nbsp;&nbsp; 20848 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71 | &nbsp;&nbsp;&nbsp;&nbsp; 38728 |
| &nbsp;&nbsp;&nbsp;Regions Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1320 | &nbsp;&nbsp;&nbsp;&nbsp; 33436 |
| &nbsp;&nbsp;&nbsp;Republic Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768 | &nbsp;&nbsp;&nbsp;&nbsp; 177139 |
| &nbsp;&nbsp;&nbsp;ResMed, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414 | &nbsp;&nbsp;&nbsp;&nbsp; 112583 |
| &nbsp;&nbsp;&nbsp;Rivian Automotive, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1129 | &nbsp;&nbsp;&nbsp;&nbsp; 14530 |
| &nbsp;&nbsp;&nbsp;Robinhood Markets, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1113 | &nbsp;&nbsp;&nbsp;&nbsp; 114695 |
| &nbsp;&nbsp;&nbsp;ROBLOX Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328 | &nbsp;&nbsp;&nbsp;&nbsp; 45195 |
| &nbsp;&nbsp;&nbsp;Rockwell Automation, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166 | &nbsp;&nbsp;&nbsp;&nbsp; 58384 |
| &nbsp;&nbsp;&nbsp;Rollins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1575 | &nbsp;&nbsp;&nbsp;&nbsp; 90200 |
| &nbsp;&nbsp;&nbsp;Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp; 90816 |
| &nbsp;&nbsp;&nbsp;Ross Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286 | &nbsp;&nbsp;&nbsp;&nbsp; 39050 |
| &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494 | &nbsp;&nbsp;&nbsp;&nbsp; 157028 |
| &nbsp;&nbsp;&nbsp;RPM International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286 | &nbsp;&nbsp;&nbsp;&nbsp; 33579 |
| &nbsp;&nbsp;&nbsp;RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5732 | &nbsp;&nbsp;&nbsp;&nbsp; 903191 |
| &nbsp;&nbsp;&nbsp;S&P Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1213 | &nbsp;&nbsp;&nbsp;&nbsp; 668484 |
| &nbsp;&nbsp;&nbsp;Sabra Health Care REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2672 | &nbsp;&nbsp;&nbsp;&nbsp; 48176 |
| &nbsp;&nbsp;&nbsp;Salesforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2369 | &nbsp;&nbsp;&nbsp;&nbsp; 611984 |
| &nbsp;&nbsp;&nbsp;SBA Communications Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp; 38202 |
| &nbsp;&nbsp;&nbsp;Sempra | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1235 | &nbsp;&nbsp;&nbsp;&nbsp; 100875 |
| &nbsp;&nbsp;&nbsp;ServiceNow, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314 | &nbsp;&nbsp;&nbsp;&nbsp; 296140 |
| &nbsp;&nbsp;&nbsp;SharkNinja, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257 | &nbsp;&nbsp;&nbsp;&nbsp; 29838 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1410 | &nbsp;&nbsp;&nbsp;&nbsp; 466541 |
| &nbsp;&nbsp;&nbsp;Shift4 Payments, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp;&nbsp; 14214 |
| &nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936 | &nbsp;&nbsp;&nbsp;&nbsp; 153307 |
| &nbsp;&nbsp;&nbsp;Snap, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1471 | &nbsp;&nbsp;&nbsp;&nbsp; 13872 |
| &nbsp;&nbsp;&nbsp;Snowflake, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2314 | &nbsp;&nbsp;&nbsp;&nbsp; 517179 |
| &nbsp;&nbsp;&nbsp;Solventum Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp; 8920 |
| &nbsp;&nbsp;&nbsp;Southern Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2085 | &nbsp;&nbsp;&nbsp;&nbsp; 196991 |
| &nbsp;&nbsp;&nbsp;SS&C Technologies Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619 | &nbsp;&nbsp;&nbsp;&nbsp; 52912 |
| &nbsp;&nbsp;&nbsp;Starbucks Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1507 | &nbsp;&nbsp;&nbsp;&nbsp; 134364 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388 | &nbsp;&nbsp;&nbsp;&nbsp; 43359 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1952 | &nbsp;&nbsp;&nbsp;&nbsp; 248997 |
| &nbsp;&nbsp;&nbsp;Stifel Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp; 17689 |
| &nbsp;&nbsp;&nbsp;Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1580 | &nbsp;&nbsp;&nbsp;&nbsp; 620513 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366 | &nbsp;&nbsp;&nbsp;&nbsp; 25499 |
| &nbsp;&nbsp;&nbsp;Synopsys, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246 | &nbsp;&nbsp;&nbsp;&nbsp; 155834 |
| &nbsp;&nbsp;&nbsp;Sysco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546 | &nbsp;&nbsp;&nbsp;&nbsp; 43462 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201 | &nbsp;&nbsp;&nbsp;&nbsp; 44769 |
| &nbsp;&nbsp;&nbsp;Tapestry, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3099 | &nbsp;&nbsp;&nbsp;&nbsp; 334785 |
| &nbsp;&nbsp;&nbsp;Target Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346 | &nbsp;&nbsp;&nbsp;&nbsp; 34773 |
| &nbsp;&nbsp;&nbsp;Tesla, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3825 | &nbsp;&nbsp;&nbsp;&nbsp; 1179133 |
| &nbsp;&nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4107 | &nbsp;&nbsp;&nbsp;&nbsp; 743613 |
| &nbsp;&nbsp;&nbsp;Texas Pacific Land Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp;&nbsp; 13554 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Schroders VCP Global Allocation Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp;Texas Roadhouse, Inc. | &nbsp;&nbsp; 1243 | &nbsp;&nbsp;$230117 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific, Inc. | &nbsp;&nbsp; 1120 | &nbsp;&nbsp;&nbsp;&nbsp; 523802 |
| &nbsp;&nbsp;&nbsp;TJX Cos., Inc. | &nbsp;&nbsp; 4331 | &nbsp;&nbsp;&nbsp;&nbsp; 539339 |
| &nbsp;&nbsp;&nbsp;T-Mobile US, Inc. | &nbsp;&nbsp; 2166 | &nbsp;&nbsp;&nbsp;&nbsp; 516396 |
| &nbsp;&nbsp;&nbsp;Toast, Inc., Class A† | &nbsp;&nbsp; 870 | &nbsp;&nbsp;&nbsp;&nbsp; 42491 |
| &nbsp;&nbsp;&nbsp;Trade Desk, Inc., Class A† | &nbsp;&nbsp; 1244 | &nbsp;&nbsp;&nbsp;&nbsp; 108178 |
| &nbsp;&nbsp;&nbsp;Tradeweb Markets, Inc., Class A | &nbsp;&nbsp; 166 | &nbsp;&nbsp;&nbsp;&nbsp; 22999 |
| &nbsp;&nbsp;&nbsp;TransDigm Group, Inc. | &nbsp;&nbsp; 232 | &nbsp;&nbsp;&nbsp;&nbsp; 373163 |
| &nbsp;&nbsp;&nbsp;Truist Financial Corp. | &nbsp;&nbsp; 2363 | &nbsp;&nbsp;&nbsp;&nbsp; 103287 |
| &nbsp;&nbsp;&nbsp;Twilio, Inc., Class A† | &nbsp;&nbsp; 170 | &nbsp;&nbsp;&nbsp;&nbsp; 21930 |
| &nbsp;&nbsp;&nbsp;Uber Technologies, Inc.† | &nbsp;&nbsp; 7013 | &nbsp;&nbsp;&nbsp;&nbsp; 615391 |
| &nbsp;&nbsp;&nbsp;Union Pacific Corp. | &nbsp;&nbsp; 945 | &nbsp;&nbsp;&nbsp;&nbsp; 209762 |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Inc., Class B | &nbsp;&nbsp; 518 | &nbsp;&nbsp;&nbsp;&nbsp; 44631 |
| &nbsp;&nbsp;&nbsp;United Rentals, Inc. | &nbsp;&nbsp; 133 | &nbsp;&nbsp;&nbsp;&nbsp; 117431 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp; 2062 | &nbsp;&nbsp;&nbsp;&nbsp; 514593 |
| &nbsp;&nbsp;&nbsp;US Bancorp | &nbsp;&nbsp; 8547 | &nbsp;&nbsp;&nbsp;&nbsp; 384273 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | &nbsp;&nbsp; 375 | &nbsp;&nbsp;&nbsp;&nbsp; 51491 |
| &nbsp;&nbsp;&nbsp;Veeva Systems, Inc., Class A† | &nbsp;&nbsp; 1322 | &nbsp;&nbsp;&nbsp;&nbsp; 375712 |
| &nbsp;&nbsp;&nbsp;Ventas, Inc. | &nbsp;&nbsp; 3902 | &nbsp;&nbsp;&nbsp;&nbsp; 262136 |
| &nbsp;&nbsp;&nbsp;Veralto Corp. | &nbsp;&nbsp; 475 | &nbsp;&nbsp;&nbsp;&nbsp; 49794 |
| &nbsp;&nbsp;&nbsp;VeriSign, Inc. | &nbsp;&nbsp; 1241 | &nbsp;&nbsp;&nbsp;&nbsp; 333668 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Inc. | &nbsp;&nbsp; 178 | &nbsp;&nbsp;&nbsp;&nbsp; 49610 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. | &nbsp;&nbsp; 7214 | &nbsp;&nbsp;&nbsp;&nbsp; 308471 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals, Inc.† | &nbsp;&nbsp; 379 | &nbsp;&nbsp;&nbsp;&nbsp; 173154 |
| &nbsp;&nbsp;&nbsp;Vertiv Holdings Co., Class A | &nbsp;&nbsp; 2506 | &nbsp;&nbsp;&nbsp;&nbsp; 364874 |
| &nbsp;&nbsp;&nbsp;Visa, Inc., Class A | &nbsp;&nbsp; 5687 | &nbsp;&nbsp;&nbsp;&nbsp; 1964688 |
| &nbsp;&nbsp;&nbsp;Vistra Corp. | &nbsp;&nbsp; 484 | &nbsp;&nbsp;&nbsp;&nbsp; 100933 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | &nbsp;&nbsp; 195 | &nbsp;&nbsp;&nbsp;&nbsp; 53561 |
| &nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp; 9363 | &nbsp;&nbsp;&nbsp;&nbsp; 917387 |
| &nbsp;&nbsp;&nbsp;Walt Disney Co. | &nbsp;&nbsp; 5321 | &nbsp;&nbsp;&nbsp;&nbsp; 633784 |
| &nbsp;&nbsp;&nbsp;Warner Bros. Discovery, Inc.† | &nbsp;&nbsp; 3470 | &nbsp;&nbsp;&nbsp;&nbsp; 45700 |
| &nbsp;&nbsp;&nbsp;Waste Management, Inc. | &nbsp;&nbsp; 973 | &nbsp;&nbsp;&nbsp;&nbsp; 222973 |
| &nbsp;&nbsp;&nbsp;WEC Energy Group, Inc. | &nbsp;&nbsp; 814 | &nbsp;&nbsp;&nbsp;&nbsp; 88791 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp; 5160 | &nbsp;&nbsp;&nbsp;&nbsp; 416051 |
| &nbsp;&nbsp;&nbsp;Welltower, Inc. | &nbsp;&nbsp; 1938 | &nbsp;&nbsp;&nbsp;&nbsp; 319906 |
| &nbsp;&nbsp;&nbsp;West Pharmaceutical Services, Inc. | &nbsp;&nbsp; 106 | &nbsp;&nbsp;&nbsp;&nbsp; 25362 |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser Co. | &nbsp;&nbsp; 1481 | &nbsp;&nbsp;&nbsp;&nbsp; 37099 |
| &nbsp;&nbsp;&nbsp;Williams Cos., Inc. | &nbsp;&nbsp; 2944 | &nbsp;&nbsp;&nbsp;&nbsp; 176493 |
| &nbsp;&nbsp;&nbsp;Workday, Inc., Class A† | &nbsp;&nbsp; 169 | &nbsp;&nbsp;&nbsp;&nbsp; 38765 |
| &nbsp;&nbsp;&nbsp;WW Grainger, Inc. | &nbsp;&nbsp; 41 | &nbsp;&nbsp;&nbsp;&nbsp; 42621 |
| &nbsp;&nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp; 287 | &nbsp;&nbsp;&nbsp;&nbsp; 41371 |
| &nbsp;&nbsp;&nbsp;Zebra Technologies Corp., Class A† | &nbsp;&nbsp; 76 | &nbsp;&nbsp;&nbsp;&nbsp; 25766 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp; 363 | &nbsp;&nbsp;&nbsp;&nbsp; 33269 |
| &nbsp;&nbsp;&nbsp;Zoetis, Inc. | &nbsp;&nbsp; 638 | &nbsp;&nbsp;&nbsp;&nbsp; 93014 |
| &nbsp;&nbsp;&nbsp;Zscaler, Inc.† | &nbsp;&nbsp; 342 | &nbsp;&nbsp;&nbsp;&nbsp; 97662 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;127677036 |
| **Total Common Stocks<br> (cost $164,165,854)** |  | &nbsp;&nbsp;&nbsp;&nbsp;216810350 |
| **CORPORATE BONDS & NOTES — 42.2%** | **CORPORATE BONDS & NOTES — 42.2%** | **CORPORATE BONDS & NOTES — 42.2%** |
| **Bermuda — 0.4%** | **Bermuda — 0.4%** | **Bermuda — 0.4%** |
| &nbsp;&nbsp;&nbsp;Aircastle, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 07/18/2028\* | $1647000 | &nbsp;&nbsp;&nbsp;&nbsp; 1720720 |
| **Canada — 0.5%** | **Canada — 0.5%** | **Canada — 0.5%** |
| &nbsp;&nbsp;&nbsp;Alimentation Couche-Tard, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 01/25/2030\* | &nbsp;&nbsp; 374000 | &nbsp;&nbsp;&nbsp;&nbsp; 348685 |
| &nbsp;&nbsp;&nbsp;Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 03/15/2052 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 892284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 02/15/2034 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1000963 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2241932 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **France — 0.1%** | **France — 0.1%** | **France — 0.1%** |
| &nbsp;&nbsp;&nbsp;BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.39%, 05/28/2031\* | $406000 | &nbsp;&nbsp;$413492 |
| **Free of Tax — 0.2%** | **Free of Tax — 0.2%** | **Free of Tax — 0.2%** |
| &nbsp;&nbsp;&nbsp;Bacardi, Ltd./Bacardi-Martini BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 06/15/2033\* | &nbsp;&nbsp; 815000 | &nbsp;&nbsp;&nbsp;&nbsp; 815978 |
| **Ireland — 1.6%** | **Ireland — 1.6%** | **Ireland — 1.6%** |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC/AerCap Global Aviation Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 01/30/2032 | &nbsp;&nbsp; 2318000 | &nbsp;&nbsp;&nbsp;&nbsp; 2097080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 12/15/2031 | &nbsp;&nbsp; 599000 | &nbsp;&nbsp;&nbsp;&nbsp; 610701 |
| &nbsp;&nbsp;&nbsp;Avolon Holdings Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 01/15/2030\* | &nbsp;&nbsp; 903000 | &nbsp;&nbsp;&nbsp;&nbsp; 909847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 05/30/2030\* | &nbsp;&nbsp; 239000 | &nbsp;&nbsp;&nbsp;&nbsp; 243171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 11/15/2029\* | &nbsp;&nbsp; 856000 | &nbsp;&nbsp;&nbsp;&nbsp; 881195 |
| &nbsp;&nbsp;&nbsp;Flutter Treasury DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 06/04/2031\* | &nbsp;&nbsp; 892000 | &nbsp;&nbsp;&nbsp;&nbsp; 897883 |
| &nbsp;&nbsp;&nbsp;Trane Technologies Financing, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 03/03/2033 | &nbsp;&nbsp; 864000 | &nbsp;&nbsp;&nbsp;&nbsp; 887525 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6527402 |
| **Italy — 0.4%** | **Italy — 0.4%** | **Italy — 0.4%** |
| &nbsp;&nbsp;&nbsp;Eni SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 05/19/2035\* | &nbsp;&nbsp; 362000 | &nbsp;&nbsp;&nbsp;&nbsp; 369410 |
| &nbsp;&nbsp;&nbsp;Intesa Sanpaolo SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 06/20/2033\* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1085261 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1454671 |
| **Japan — 0.1%** | **Japan — 0.1%** | **Japan — 0.1%** |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.16%, 04/24/2031 | &nbsp;&nbsp; 237000 | &nbsp;&nbsp;&nbsp;&nbsp; 241977 |
| **Mexico — 0.1%** | **Mexico — 0.1%** | **Mexico — 0.1%** |
| &nbsp;&nbsp;&nbsp;Trust Fibra Uno |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.70%, 01/23/2032\* | &nbsp;&nbsp; 466000 | &nbsp;&nbsp;&nbsp;&nbsp; 492202 |
| **Netherlands — 0.5%** | **Netherlands — 0.5%** | **Netherlands — 0.5%** |
| &nbsp;&nbsp;&nbsp;Bacardi-Martini BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 02/01/2035\* | &nbsp;&nbsp; 648000 | &nbsp;&nbsp;&nbsp;&nbsp; 664982 |
| &nbsp;&nbsp;&nbsp;ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.07%, 03/25/2031 | &nbsp;&nbsp; 1040000 | &nbsp;&nbsp;&nbsp;&nbsp; 1055189 |
| &nbsp;&nbsp;&nbsp;Siemens Funding BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 05/28/2030\* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 302852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.90%, 05/28/2065\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 208527 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2231550 |
| **Panama — 0.2%** | **Panama — 0.2%** | **Panama — 0.2%** |
| &nbsp;&nbsp;&nbsp;Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 08/01/2028\* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 971250 |
| **Singapore — 0.6%** | **Singapore — 0.6%** | **Singapore — 0.6%** |
| &nbsp;&nbsp;&nbsp;Pfizer Investment Enterprises Pte., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 05/19/2033 | &nbsp;&nbsp; 910000 | &nbsp;&nbsp;&nbsp;&nbsp; 904522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 05/19/2053 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp;&nbsp;&nbsp; 1750793 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2655315 |
| **Sweden — 0.2%** | **Sweden — 0.2%** | **Sweden — 0.2%** |
| &nbsp;&nbsp;&nbsp;EQT AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 05/08/2035\* | &nbsp;&nbsp; 792000 | &nbsp;&nbsp;&nbsp;&nbsp; 803186 |
| **Switzerland — 0.7%** | **Switzerland — 0.7%** | **Switzerland — 0.7%** |
| &nbsp;&nbsp;&nbsp;UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.09%, 05/14/2032\* | &nbsp;&nbsp; 2974000 | &nbsp;&nbsp;&nbsp;&nbsp; 2702061 |
| **United Kingdom — 1.0%** | **United Kingdom — 1.0%** | **United Kingdom — 1.0%** |
| &nbsp;&nbsp;&nbsp;Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.67%, 03/10/2032 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 889479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.34%, 09/10/2035 | &nbsp;&nbsp; 954000 | &nbsp;&nbsp;&nbsp;&nbsp; 949228 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Schroders VCP Global Allocation Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| &nbsp;&nbsp;&nbsp;BP Capital Markets PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.13%, 03/18/2035(1) | $444000 | &nbsp;&nbsp;$445292 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.68%, 01/05/2035 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp;&nbsp;&nbsp; 1847952 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4131951 |
| **United States — 35.6%** | **United States — 35.6%** | **United States — 35.6%** |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 11/21/2049 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 897242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 03/15/2034 | &nbsp;&nbsp; 880000 | &nbsp;&nbsp;&nbsp;&nbsp; 891108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 03/15/2054 | &nbsp;&nbsp; 903000 | &nbsp;&nbsp;&nbsp;&nbsp; 870144 |
| &nbsp;&nbsp;&nbsp;AES Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 01/15/2031 | &nbsp;&nbsp; 1179000 | &nbsp;&nbsp;&nbsp;&nbsp; 1042196 |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 05/15/2036 | &nbsp;&nbsp; 165000 | &nbsp;&nbsp;&nbsp;&nbsp; 162041 |
| &nbsp;&nbsp;&nbsp;Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 07/31/2033 | &nbsp;&nbsp; 680000 | &nbsp;&nbsp;&nbsp;&nbsp; 680943 |
| &nbsp;&nbsp;&nbsp;American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92%, 07/20/2033 | &nbsp;&nbsp; 653000 | &nbsp;&nbsp;&nbsp;&nbsp; 655104 |
| &nbsp;&nbsp;&nbsp;American International Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 05/07/2035 | &nbsp;&nbsp; 906000 | &nbsp;&nbsp;&nbsp;&nbsp; 925648 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10%, 06/15/2030 | &nbsp;&nbsp; 696000 | &nbsp;&nbsp;&nbsp;&nbsp; 617679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 01/31/2035 | &nbsp;&nbsp; 664000 | &nbsp;&nbsp;&nbsp;&nbsp; 675453 |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 06/01/2041 | &nbsp;&nbsp; 1245000 | &nbsp;&nbsp;&nbsp;&nbsp; 973627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 09/15/2055 | &nbsp;&nbsp; 1950000 | &nbsp;&nbsp;&nbsp;&nbsp; 1307404 |
| &nbsp;&nbsp;&nbsp;Baltimore Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 06/01/2053 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1910172 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.90%, 07/23/2031 | &nbsp;&nbsp; 914000 | &nbsp;&nbsp;&nbsp;&nbsp; 803075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 10/22/2030 | &nbsp;&nbsp; 2582000 | &nbsp;&nbsp;&nbsp;&nbsp; 2418020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 01/27/2027(1) | &nbsp;&nbsp; 914000 | &nbsp;&nbsp;&nbsp;&nbsp; 892055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.29%, 04/25/2034 | &nbsp;&nbsp; 2683000 | &nbsp;&nbsp;&nbsp;&nbsp; 2733252 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.19%, 03/14/2035 | &nbsp;&nbsp; 1311000 | &nbsp;&nbsp;&nbsp;&nbsp; 1327876 |
| &nbsp;&nbsp;&nbsp;Beacon Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.27%, 08/15/2054\* | &nbsp;&nbsp; 1833000 | &nbsp;&nbsp;&nbsp;&nbsp; 1813663 |
| &nbsp;&nbsp;&nbsp;Becton Dickinson & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.67%, 06/06/2047 | &nbsp;&nbsp; 510000 | &nbsp;&nbsp;&nbsp;&nbsp; 437963 |
| &nbsp;&nbsp;&nbsp;Belrose Funding Trust II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.79%, 05/15/2055\* | &nbsp;&nbsp; 581000 | &nbsp;&nbsp;&nbsp;&nbsp; 594442 |
| &nbsp;&nbsp;&nbsp;BMW US Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 03/21/2035\* | &nbsp;&nbsp; 898000 | &nbsp;&nbsp;&nbsp;&nbsp; 911990 |
| &nbsp;&nbsp;&nbsp;Boeing Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 02/01/2035 | &nbsp;&nbsp; 540000 | &nbsp;&nbsp;&nbsp;&nbsp; 456537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 02/01/2031 | &nbsp;&nbsp; 479000 | &nbsp;&nbsp;&nbsp;&nbsp; 451875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 02/01/2050 | &nbsp;&nbsp; 630000 | &nbsp;&nbsp;&nbsp;&nbsp; 445542 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.94%, 06/04/2051 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 434313 |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.14%, 11/15/2035\* | &nbsp;&nbsp; 782000 | &nbsp;&nbsp;&nbsp;&nbsp; 656390 |
| &nbsp;&nbsp;&nbsp;Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.36%, 07/29/2032 | &nbsp;&nbsp; 288000 | &nbsp;&nbsp;&nbsp;&nbsp; 245247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.96%, 11/02/2034 | &nbsp;&nbsp; 353000 | &nbsp;&nbsp;&nbsp;&nbsp; 411255 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC/Charter Communications Operating Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 04/01/2051 | &nbsp;&nbsp; 3388000 | &nbsp;&nbsp;&nbsp;&nbsp; 2187083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 06/01/2052 | &nbsp;&nbsp; 699000 | &nbsp;&nbsp;&nbsp;&nbsp; 463420 |
| &nbsp;&nbsp;&nbsp;Cheniere Corpus Christi Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 11/15/2029 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 672879 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp;Citibank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.91%, 05/29/2030 | $697000 | &nbsp;&nbsp;$707934 |
| &nbsp;&nbsp;&nbsp;Citibank, N.A. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.57%, 04/30/2034 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2599218 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 08/15/2030(1) | &nbsp;&nbsp; 415000 | &nbsp;&nbsp;&nbsp;&nbsp; 418527 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.89%, 11/01/2051 | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp;&nbsp;&nbsp; 2583415 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 06/01/2055 | &nbsp;&nbsp; 262000 | &nbsp;&nbsp;&nbsp;&nbsp; 271528 |
| &nbsp;&nbsp;&nbsp;Coterra Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 02/15/2035 | &nbsp;&nbsp; 1403000 | &nbsp;&nbsp;&nbsp;&nbsp; 1382905 |
| &nbsp;&nbsp;&nbsp;Cousins Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 07/15/2030 | &nbsp;&nbsp; 496000 | &nbsp;&nbsp;&nbsp;&nbsp; 503899 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 04/01/2030 | &nbsp;&nbsp; 660000 | &nbsp;&nbsp;&nbsp;&nbsp; 632222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 03/25/2048 | &nbsp;&nbsp; 730000 | &nbsp;&nbsp;&nbsp;&nbsp; 628118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 02/21/2033 | &nbsp;&nbsp; 103000 | &nbsp;&nbsp;&nbsp;&nbsp; 103285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 02/21/2053 | &nbsp;&nbsp; 692000 | &nbsp;&nbsp;&nbsp;&nbsp; 635805 |
| &nbsp;&nbsp;&nbsp;Daimler Truck Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 01/13/2035\* | &nbsp;&nbsp; 883000 | &nbsp;&nbsp;&nbsp;&nbsp; 899217 |
| &nbsp;&nbsp;&nbsp;Deere & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 06/09/2042 | &nbsp;&nbsp; 530000 | &nbsp;&nbsp;&nbsp;&nbsp; 449140 |
| &nbsp;&nbsp;&nbsp;Dell International LLC/EMC Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 04/01/2032 | &nbsp;&nbsp; 337000 | &nbsp;&nbsp;&nbsp;&nbsp; 343839 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 03/24/2031 | &nbsp;&nbsp; 1134000 | &nbsp;&nbsp;&nbsp;&nbsp; 1037172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 04/01/2035 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 503177 |
| &nbsp;&nbsp;&nbsp;Digital Realty Trust LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 07/01/2029 | &nbsp;&nbsp; 913000 | &nbsp;&nbsp;&nbsp;&nbsp; 880541 |
| &nbsp;&nbsp;&nbsp;Discover Financial Services |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.70%, 11/29/2032 | &nbsp;&nbsp; 824000 | &nbsp;&nbsp;&nbsp;&nbsp; 900610 |
| &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 03/15/2052 | &nbsp;&nbsp; 305000 | &nbsp;&nbsp;&nbsp;&nbsp; 218808 |
| &nbsp;&nbsp;&nbsp;Edison International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 06/15/2029 | &nbsp;&nbsp; 239000 | &nbsp;&nbsp;&nbsp;&nbsp; 237479 |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 08/14/2034 | &nbsp;&nbsp; 1350000 | &nbsp;&nbsp;&nbsp;&nbsp; 1330518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 02/27/2053 | &nbsp;&nbsp; 675000 | &nbsp;&nbsp;&nbsp;&nbsp; 610483 |
| &nbsp;&nbsp;&nbsp;Entergy Arkansas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 06/01/2034 | &nbsp;&nbsp; 817000 | &nbsp;&nbsp;&nbsp;&nbsp; 842564 |
| &nbsp;&nbsp;&nbsp;Equinix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15%, 07/15/2030 | &nbsp;&nbsp; 1157000 | &nbsp;&nbsp;&nbsp;&nbsp; 1029156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 04/15/2032 | &nbsp;&nbsp; 508000 | &nbsp;&nbsp;&nbsp;&nbsp; 479037 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 03/15/2032 | &nbsp;&nbsp; 1119000 | &nbsp;&nbsp;&nbsp;&nbsp; 977179 |
| &nbsp;&nbsp;&nbsp;Expand Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 01/15/2035 | &nbsp;&nbsp; 458000 | &nbsp;&nbsp;&nbsp;&nbsp; 463805 |
| &nbsp;&nbsp;&nbsp;Five Corners Funding Trust III |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.79%, 02/15/2033\* | &nbsp;&nbsp; 1141000 | &nbsp;&nbsp;&nbsp;&nbsp; 1183802 |
| &nbsp;&nbsp;&nbsp;Florida Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 06/15/2034 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2053261 |
| &nbsp;&nbsp;&nbsp;Flowers Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.40%, 03/15/2031 | &nbsp;&nbsp; 496000 | &nbsp;&nbsp;&nbsp;&nbsp; 432455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 03/15/2035 | &nbsp;&nbsp; 826000 | &nbsp;&nbsp;&nbsp;&nbsp; 841040 |
| &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 02/16/2028 | &nbsp;&nbsp; 1220000 | &nbsp;&nbsp;&nbsp;&nbsp; 1144772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/13/2030 | &nbsp;&nbsp; 486000 | &nbsp;&nbsp;&nbsp;&nbsp; 446086 |
| &nbsp;&nbsp;&nbsp;Foundry JV Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.90%, 01/25/2033\* | &nbsp;&nbsp; 264000 | &nbsp;&nbsp;&nbsp;&nbsp; 271293 |
| &nbsp;&nbsp;&nbsp;General Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 07/29/2030 | &nbsp;&nbsp; 362000 | &nbsp;&nbsp;&nbsp;&nbsp; 360273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 01/29/2036 | &nbsp;&nbsp; 168000 | &nbsp;&nbsp;&nbsp;&nbsp; 167433 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Schroders VCP Global Allocation Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp;General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 06/10/2031 | $402000 | &nbsp;&nbsp;$352555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 09/06/2034 | &nbsp;&nbsp; 1777000 | &nbsp;&nbsp;&nbsp;&nbsp; 1750393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 04/04/2032 | &nbsp;&nbsp; 17000 | &nbsp;&nbsp;&nbsp;&nbsp; 17267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 02/08/2031 | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp; 874279 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 08/19/2049 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 363990 |
| &nbsp;&nbsp;&nbsp;Hartford Insurance Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 09/15/2051 | &nbsp;&nbsp; 2350000 | &nbsp;&nbsp;&nbsp;&nbsp; 1475672 |
| &nbsp;&nbsp;&nbsp;HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 03/15/2032 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1380525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 03/15/2052 | &nbsp;&nbsp; 547000 | &nbsp;&nbsp;&nbsp;&nbsp; 437186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 09/15/2034 | &nbsp;&nbsp; 885000 | &nbsp;&nbsp;&nbsp;&nbsp; 888584 |
| &nbsp;&nbsp;&nbsp;Healthpeak OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 02/15/2035 | &nbsp;&nbsp; 445000 | &nbsp;&nbsp;&nbsp;&nbsp; 448945 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 10/15/2029 | &nbsp;&nbsp; 914000 | &nbsp;&nbsp;&nbsp;&nbsp; 908643 |
| &nbsp;&nbsp;&nbsp;HF Sinclair Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 01/15/2035 | &nbsp;&nbsp; 507000 | &nbsp;&nbsp;&nbsp;&nbsp; 515859 |
| &nbsp;&nbsp;&nbsp;High Street Funding Trust III |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.81%, 02/15/2055\* | &nbsp;&nbsp; 295000 | &nbsp;&nbsp;&nbsp;&nbsp; 285609 |
| &nbsp;&nbsp;&nbsp;Highwoods Realty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.65%, 02/01/2034 | &nbsp;&nbsp; 535000 | &nbsp;&nbsp;&nbsp;&nbsp; 603099 |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 04/15/2035 | &nbsp;&nbsp; 185000 | &nbsp;&nbsp;&nbsp;&nbsp; 182551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 07/01/2034 | &nbsp;&nbsp; 526000 | &nbsp;&nbsp;&nbsp;&nbsp; 528232 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 10/15/2031 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1264183 |
| &nbsp;&nbsp;&nbsp;Ingersoll Rand, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 06/15/2034 | &nbsp;&nbsp; 885000 | &nbsp;&nbsp;&nbsp;&nbsp; 909467 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.74%, 10/15/2030 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1863034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.96%, 01/25/2033 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3593830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 06/01/2026(1) | &nbsp;&nbsp; 1480000 | &nbsp;&nbsp;&nbsp;&nbsp; 1455425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.58%, 07/23/2036 | &nbsp;&nbsp; 136000 | &nbsp;&nbsp;&nbsp;&nbsp; 137762 |
| &nbsp;&nbsp;&nbsp;Kellanova |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 03/01/2033 | &nbsp;&nbsp; 540000 | &nbsp;&nbsp;&nbsp;&nbsp; 550323 |
| &nbsp;&nbsp;&nbsp;KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55%, 10/01/2029 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 923555 |
| &nbsp;&nbsp;&nbsp;Keysight Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 07/30/2030 | &nbsp;&nbsp; 729000 | &nbsp;&nbsp;&nbsp;&nbsp; 749710 |
| &nbsp;&nbsp;&nbsp;Kilroy Realty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 11/15/2032 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 725860 |
| &nbsp;&nbsp;&nbsp;Kimco Realty OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 03/01/2035 | &nbsp;&nbsp; 246000 | &nbsp;&nbsp;&nbsp;&nbsp; 240442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.40%, 03/01/2034 | &nbsp;&nbsp; 395000 | &nbsp;&nbsp;&nbsp;&nbsp; 429056 |
| &nbsp;&nbsp;&nbsp;Lincoln Financial Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 05/28/2028\* | &nbsp;&nbsp; 479000 | &nbsp;&nbsp;&nbsp;&nbsp; 479964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 01/13/2030\* | &nbsp;&nbsp; 533000 | &nbsp;&nbsp;&nbsp;&nbsp; 546070 |
| &nbsp;&nbsp;&nbsp;M&T Bank Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 01/27/2034 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 985748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 07/30/2035 | &nbsp;&nbsp; 544000 | &nbsp;&nbsp;&nbsp;&nbsp; 544827 |
| &nbsp;&nbsp;&nbsp;Mars, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 03/01/2035\* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1004787 |
| &nbsp;&nbsp;&nbsp;Metropolitan Life Global Funding I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 03/28/2033\* | &nbsp;&nbsp; 1743000 | &nbsp;&nbsp;&nbsp;&nbsp; 1773586 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartments LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 03/15/2030 | &nbsp;&nbsp; 894000 | &nbsp;&nbsp;&nbsp;&nbsp; 830110 |
| &nbsp;&nbsp;&nbsp;Molex Electronic Technologies LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 04/30/2032\* | &nbsp;&nbsp; 267000 | &nbsp;&nbsp;&nbsp;&nbsp; 267852 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.93%, 04/28/2032 | &nbsp;&nbsp; 4160000 | &nbsp;&nbsp;&nbsp;&nbsp; 3566021 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.19%, 04/17/2031 | $794000 | &nbsp;&nbsp;$811073 |
| &nbsp;&nbsp;&nbsp;Netflix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 08/15/2034 | &nbsp;&nbsp; 440000 | &nbsp;&nbsp;&nbsp;&nbsp; 444724 |
| &nbsp;&nbsp;&nbsp;New York Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 07/25/2028\* | &nbsp;&nbsp; 1840000 | &nbsp;&nbsp;&nbsp;&nbsp; 1834648 |
| &nbsp;&nbsp;&nbsp;Northwestern Mutual Life Insurance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.17%, 05/29/2055\* | &nbsp;&nbsp; 338000 | &nbsp;&nbsp;&nbsp;&nbsp; 352562 |
| &nbsp;&nbsp;&nbsp;Omega Healthcare Investors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 02/01/2031 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2286361 |
| &nbsp;&nbsp;&nbsp;Omnis Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.72%, 05/15/2055\* | &nbsp;&nbsp; 1149000 | &nbsp;&nbsp;&nbsp;&nbsp; 1188387 |
| &nbsp;&nbsp;&nbsp;ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.35%, 03/15/2029 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 247567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 11/01/2034 | &nbsp;&nbsp; 1654000 | &nbsp;&nbsp;&nbsp;&nbsp; 1607725 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 09/27/2034 | &nbsp;&nbsp; 824000 | &nbsp;&nbsp;&nbsp;&nbsp; 791702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 08/03/2035 | &nbsp;&nbsp; 646000 | &nbsp;&nbsp;&nbsp;&nbsp; 655063 |
| &nbsp;&nbsp;&nbsp;Ovintiv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 08/15/2034 | &nbsp;&nbsp; 272000 | &nbsp;&nbsp;&nbsp;&nbsp; 284669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 02/01/2038 | &nbsp;&nbsp; 1198000 | &nbsp;&nbsp;&nbsp;&nbsp; 1222038 |
| &nbsp;&nbsp;&nbsp;Owens Corning |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 06/15/2054 | &nbsp;&nbsp; 880000 | &nbsp;&nbsp;&nbsp;&nbsp; 886493 |
| &nbsp;&nbsp;&nbsp;Pacific Life Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 07/17/2032\* | &nbsp;&nbsp; 1539000 | &nbsp;&nbsp;&nbsp;&nbsp; 1540804 |
| &nbsp;&nbsp;&nbsp;Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 05/19/2032 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 916853 |
| &nbsp;&nbsp;&nbsp;PG&E Energy Recovery Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.28%, 01/15/2038 | &nbsp;&nbsp; 644000 | &nbsp;&nbsp;&nbsp;&nbsp; 515341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.82%, 07/15/2046 | &nbsp;&nbsp; 853000 | &nbsp;&nbsp;&nbsp;&nbsp; 594695 |
| &nbsp;&nbsp;&nbsp;Phillips Edison Grocery Center Operating Partnership I LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 08/15/2032 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 553190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 07/15/2034 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 256832 |
| &nbsp;&nbsp;&nbsp;Piedmont Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 08/15/2030 | &nbsp;&nbsp; 699000 | &nbsp;&nbsp;&nbsp;&nbsp; 621972 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.07%, 01/24/2034 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1504573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 10/20/2034 | &nbsp;&nbsp; 960000 | &nbsp;&nbsp;&nbsp;&nbsp; 1072356 |
| &nbsp;&nbsp;&nbsp;Pricoa Global Funding I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 05/28/2035\* | &nbsp;&nbsp; 581000 | &nbsp;&nbsp;&nbsp;&nbsp; 588139 |
| &nbsp;&nbsp;&nbsp;Principal Life Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 11/27/2029\* | &nbsp;&nbsp; 313000 | &nbsp;&nbsp;&nbsp;&nbsp; 316877 |
| &nbsp;&nbsp;&nbsp;Prologis LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 01/15/2031 | &nbsp;&nbsp; 243000 | &nbsp;&nbsp;&nbsp;&nbsp; 245038 |
| &nbsp;&nbsp;&nbsp;Prudential Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 03/01/2052 | &nbsp;&nbsp; 645000 | &nbsp;&nbsp;&nbsp;&nbsp; 624830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 03/14/2035 | &nbsp;&nbsp; 904000 | &nbsp;&nbsp;&nbsp;&nbsp; 910406 |
| &nbsp;&nbsp;&nbsp;Regal Rexnord Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.40%, 04/15/2033 | &nbsp;&nbsp; 420000 | &nbsp;&nbsp;&nbsp;&nbsp; 443964 |
| &nbsp;&nbsp;&nbsp;Regency Centers LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 01/15/2035 | &nbsp;&nbsp; 229000 | &nbsp;&nbsp;&nbsp;&nbsp; 228863 |
| &nbsp;&nbsp;&nbsp;Republic Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 12/15/2033 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 431493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 03/15/2035 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 177586 |
| &nbsp;&nbsp;&nbsp;RTX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.90%, 09/01/2031 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 469029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 07/01/2050 | &nbsp;&nbsp; 675000 | &nbsp;&nbsp;&nbsp;&nbsp; 444443 |
| &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 03/15/2028 | &nbsp;&nbsp; 1462000 | &nbsp;&nbsp;&nbsp;&nbsp; 1450242 |
| &nbsp;&nbsp;&nbsp;South Bow USA Infrastructure Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.58%, 10/01/2034\* | &nbsp;&nbsp; 317000 | &nbsp;&nbsp;&nbsp;&nbsp; 312917 |
| &nbsp;&nbsp;&nbsp;Stellantis Finance US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.45%, 03/18/2035\* | &nbsp;&nbsp; 899000 | &nbsp;&nbsp;&nbsp;&nbsp; 899752 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Schroders VCP Global Allocation Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

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---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp;Stryker Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 06/15/2050 | $1200000 | &nbsp;&nbsp;$779641 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 07/29/2036 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 225677 |
| &nbsp;&nbsp;&nbsp;Synopsys, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 04/01/2035 | &nbsp;&nbsp; 382000 | &nbsp;&nbsp;&nbsp;&nbsp; 383356 |
| &nbsp;&nbsp;&nbsp;Tapestry, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 03/11/2035 | &nbsp;&nbsp; 897000 | &nbsp;&nbsp;&nbsp;&nbsp; 901119 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 04/15/2030 | &nbsp;&nbsp; 467000 | &nbsp;&nbsp;&nbsp;&nbsp; 452632 |
| &nbsp;&nbsp;&nbsp;Tractor Supply Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 11/01/2030 | &nbsp;&nbsp; 1928000 | &nbsp;&nbsp;&nbsp;&nbsp; 1667480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 05/15/2033 | &nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 137076 |
| &nbsp;&nbsp;&nbsp;Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.71%, 01/24/2035 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2069433 |
| &nbsp;&nbsp;&nbsp;Union Pacific Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 02/05/2050 | &nbsp;&nbsp; 845000 | &nbsp;&nbsp;&nbsp;&nbsp; 577201 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 07/15/2034 | &nbsp;&nbsp; 928000 | &nbsp;&nbsp;&nbsp;&nbsp; 930675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 02/15/2053 | &nbsp;&nbsp; 2107000 | &nbsp;&nbsp;&nbsp;&nbsp; 2079166 |
| &nbsp;&nbsp;&nbsp;Unum Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 12/15/2049 | &nbsp;&nbsp; 665000 | &nbsp;&nbsp;&nbsp;&nbsp; 525555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 06/15/2054 | &nbsp;&nbsp; 672000 | &nbsp;&nbsp;&nbsp;&nbsp; 654536 |
| &nbsp;&nbsp;&nbsp;US Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.84%, 02/01/2034 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1974506 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 03/22/2051 | &nbsp;&nbsp; 1801000 | &nbsp;&nbsp;&nbsp;&nbsp; 1281948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.78%, 02/15/2035 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 242322 |
| &nbsp;&nbsp;&nbsp;Virginia Electric & Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 03/15/2035 | &nbsp;&nbsp; 1542000 | &nbsp;&nbsp;&nbsp;&nbsp; 1547371 |
| &nbsp;&nbsp;&nbsp;VMware, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.80%, 08/15/2028 | &nbsp;&nbsp; 2071000 | &nbsp;&nbsp;&nbsp;&nbsp; 1913845 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 10/30/2030 | &nbsp;&nbsp; 2171000 | &nbsp;&nbsp;&nbsp;&nbsp; 2028027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35%, 03/02/2033 | &nbsp;&nbsp; 1269000 | &nbsp;&nbsp;&nbsp;&nbsp; 1161682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 03/15/2026(1) | &nbsp;&nbsp; 903000 | &nbsp;&nbsp;&nbsp;&nbsp; 894575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 07/25/2033 | &nbsp;&nbsp; 2658000 | &nbsp;&nbsp;&nbsp;&nbsp; 2655642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.39%, 04/24/2034 | &nbsp;&nbsp; 478000 | &nbsp;&nbsp;&nbsp;&nbsp; 489069 |
| &nbsp;&nbsp;&nbsp;Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 08/15/2028 | &nbsp;&nbsp; 1830000 | &nbsp;&nbsp;&nbsp;&nbsp; 1823761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 11/15/2034 | &nbsp;&nbsp; 543000 | &nbsp;&nbsp;&nbsp;&nbsp; 532377 |
| &nbsp;&nbsp;&nbsp;Williams Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 09/15/2045 | &nbsp;&nbsp; 970000 | &nbsp;&nbsp;&nbsp;&nbsp; 874305 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;148926819 |
| **Total Corporate Bonds & Notes<br> (cost $178,522,627)** |  | &nbsp;&nbsp;&nbsp;&nbsp;176330506 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 0.6%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 0.6%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 0.6%** |
| **United States — 0.6%** | **United States — 0.6%** | **United States — 0.6%** |
| &nbsp;&nbsp;&nbsp;United States Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 05/15/2055<br> (cost $2,394,524) | &nbsp;&nbsp; 2474400 | &nbsp;&nbsp;&nbsp;&nbsp; 2420272 |
| **PURCHASED OPTIONS† — 0.1%** | **PURCHASED OPTIONS† — 0.1%** | **PURCHASED OPTIONS† — 0.1%** |
| **Purchased Options - Puts — 0.1%** | **Purchased Options - Puts — 0.1%** | **Purchased Options - Puts — 0.1%** |
| &nbsp;&nbsp;&nbsp;Exchange - traded put option on the S&P 500 Index (Expiration Date: 08/15/2025; Strike Price: $4,760.00) | &nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp; 910 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Purchased Options - Puts (continued)** | **Purchased Options - Puts (continued)** |  |
| &nbsp;&nbsp;&nbsp;Exchange - traded put option on the S&P 500 Index (Expiration Date: 08/15/2025; Strike Price: $5,025.00) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88 | &nbsp;&nbsp;$9460 |
| &nbsp;&nbsp;&nbsp;Exchange - traded put option on the S&P 500 Index (Expiration Date: 08/15/2025; Strike Price: $5,050.00) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp; 900 |
| &nbsp;&nbsp;&nbsp;Exchange - traded put option on the S&P 500 Index (Expiration Date: 09/19/2025; Strike Price: $5,080.00) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92 | &nbsp;&nbsp;&nbsp;&nbsp; 69460 |
| &nbsp;&nbsp;&nbsp;Exchange - traded put option on the S&P 500 Index (Expiration Date: 09/19/2025; Strike Price: $5,090.00) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp; 11475 |
| &nbsp;&nbsp;&nbsp;Exchange - traded put option on the S&P 500 Index (Expiration Date: 10/17/2025; Strike Price: $5,360.00) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp; 308100 |
| **Total Purchased Options<br> (cost $1,124,947)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400305 |
| **WARRANTS — 0.0%** | **WARRANTS — 0.0%** |  |
| **Canada — 0.0%** | **Canada — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;Constellation Software, Inc.†(2)<br> Expires 03/31/2040<br> (cost $0) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Total Long-Term Investment Securities<br> (cost $346,207,952)** |  | &nbsp;&nbsp;&nbsp;&nbsp;395961433 |
| **SHORT-TERM INVESTMENTS — 2.9%** | **SHORT-TERM INVESTMENTS — 2.9%** |  |
| **Unaffiliated Investment Companies — 2.9%** | **Unaffiliated Investment Companies — 2.9%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(3)<br> (cost $12,141,391) | 12141392 | &nbsp;&nbsp;&nbsp;&nbsp; 12141392 |
| **TOTAL INVESTMENTS<br> (cost $358,349,343)(4)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97.7% | &nbsp;&nbsp;&nbsp;&nbsp;408102825 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9763837 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$417866662 |

---

---

| | |
|:---|:---|
| † | &nbsp;&nbsp;Non-income producing security |
| \* | &nbsp;&nbsp;Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The SA Schroders VCP Global Allocation Portfolio has no right to demand registration of these securities. At July 31, 2025, the aggregate value of these securities was $31,978,254 representing 7.7% of net assets. |
| (1) | &nbsp;&nbsp;Perpetual maturity - maturity date reflects the next call date. |
| (2) | &nbsp;&nbsp;Securities classified as Level 3 (see Note 2). |
| (3) | &nbsp;&nbsp;The rate shown is the 7-day yield as of July 31, 2025. |
| (4) | &nbsp;&nbsp;See Note 4 for cost of investments on a tax basis. |

---

---

| |
|:---|
| ADR—American Depositary Receipt |
| CDI—CHESS Depositary Interest |
| CVA—Certification Van Aandelen (Dutch Cert.) |
| DAC—Designated Activity Company |
| LSE—London Stock Exchange |
| NASDAQ—National Association of Securities Dealers Automated Quotations |
| NASDAQ Helsinki—NASDAQ Helsinki |
| NASDAQ Stockholm—Nasdaq Stockholm AB |
| NYSE—New York Stock Exchange |
| OSEAX—Oslo Stock Exchange |
| OTC—Over the Counter |
| SEHK—Hong Kong Stock Exchange |
| TSX—Toronto Stock Exchange |
| XAMS—Euronext Amsterdam Stock Exchange |
| Xetra—Frankfurt Stock Exchange |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Schroders VCP Global Allocation Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

#### Futures Contracts

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---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number<br> of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Expiration<br> Month** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Basis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Value\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation** |
| 55 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;MSCI World Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$6944319 | &nbsp;&nbsp;&nbsp;&nbsp;$7234700 | &nbsp;&nbsp;&nbsp;&nbsp;$290381 |
| 205 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;S&P 500 E-Mini Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62392666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65336063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2943397 |
| 32 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;SPI 200 Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4390632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4474375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83743 |
| 100 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;Euro STOXX 50 Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6103625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6094005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9620 |
| 53 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;Euro-Schatz | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6484813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6474766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10047 |
| 105 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;S&P 500 Consumer Staples Sector Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8617939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8478750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139189 |
| 32 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;U.S. Treasury 2 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6635891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6623500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12391 |
| 51 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;U.S. Treasury 5 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5534902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5516766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18136 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$3506904 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
| 198 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;Canada 10 Year Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$17283746 | &nbsp;&nbsp;&nbsp;&nbsp;$17222113 | &nbsp;&nbsp;&nbsp;&nbsp;$(61633) |
| 62 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;E-Mini S&P Select Sector Index - Health Care | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8545615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8197020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (348595) |
| 118 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury Long Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13512069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13474125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (37944) |
| 162 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;Bloomberg U.S. Corporate Investment Grade Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16737659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16740270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2611) |
| 31 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;FTSE 100 Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3632648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3735378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (102730) |
| 162 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;MSCI Emerging Markets Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9828151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10030230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (202079) |
| &nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;TOPIX Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1163799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1173342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9543) |
| 368 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;U.S. Treasury 10 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40621554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40871000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (249446) |
| 100 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra 10 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11267263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11307813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (40550) |
| &nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 817173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 821187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4014) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$(1059145) |
|  |  | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) |  | &nbsp;&nbsp;&nbsp;&nbsp;$2447759 |

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** |
| **Counterparty** | &nbsp;&nbsp;**Contract to<br> Deliver** | &nbsp;&nbsp;**Contract to<br> Deliver** | &nbsp;&nbsp;**In<br> Exchange For** | &nbsp;&nbsp;**In<br> Exchange For** | &nbsp;&nbsp;**Delivery<br> Date** | &nbsp;&nbsp;**Unrealized<br> Appreciation** | &nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
| Bank of America, N.A. | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5641250 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;1045359803 | &nbsp;&nbsp;08/27/2025 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$(14615) |
|  | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61826 | &nbsp;&nbsp;08/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;595446000 | &nbsp;&nbsp;HKD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31621359 | &nbsp;&nbsp;08/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 78451 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4103830 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3518000 | &nbsp;&nbsp;08/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (82969) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4007898 | &nbsp;&nbsp;KRW | &nbsp;&nbsp;5531340000 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (40291) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597200 | &nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5781000 | &nbsp;&nbsp;08/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (5781) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79701 | &nbsp;&nbsp;&nbsp;&nbsp;(143656) |
| Barclays Bank PLC | &nbsp;&nbsp;CNH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28655000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4001802 | &nbsp;&nbsp;08/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 20674 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3419000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4594312 | &nbsp;&nbsp;08/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 78019 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;JPY | &nbsp;&nbsp;1052063000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7110734 | &nbsp;&nbsp;08/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp;116378 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885255 | &nbsp;&nbsp;KRW | &nbsp;&nbsp;1214544000 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (14068) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1801519 | &nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52199000 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (55422) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;215071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(69490) |
| Citibank, N.A. | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1901000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2381599 | &nbsp;&nbsp;08/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 34719 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;HKD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31418625 | &nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;595446000 | &nbsp;&nbsp;08/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (52568) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7784984 | &nbsp;&nbsp;CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6214000 | &nbsp;&nbsp;08/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;(113489) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658613 | &nbsp;&nbsp;DKK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4215000 | &nbsp;&nbsp;08/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (13063) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34719 | &nbsp;&nbsp;&nbsp;&nbsp;(179120) |
| Goldman Sachs International | &nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4826000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;866284 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 4430 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6132000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7150151 | &nbsp;&nbsp;08/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp;141646 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;407855466 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2756123 | &nbsp;&nbsp;08/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 44606 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;NOK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4888000 | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476460 | &nbsp;&nbsp;08/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 3608 | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865865 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4826000 | &nbsp;&nbsp;08/04/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (4010) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432249 | &nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2413000 | &nbsp;&nbsp;09/03/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (4712) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1387068 | &nbsp;&nbsp;HKD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10845000 | &nbsp;&nbsp;08/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (2482) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;194290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11204) |
| UBS AG | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3168514 | &nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4867000 | &nbsp;&nbsp;08/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (39512) |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Schroders VCP Global Allocation Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** |
| **Counterparty** | &nbsp;&nbsp;**Contract to<br> Deliver** | &nbsp;&nbsp;**Contract to<br> Deliver** | &nbsp;&nbsp;**In<br> Exchange For** | &nbsp;&nbsp;**In<br> Exchange For** | &nbsp;&nbsp;**Delivery<br> Date** | &nbsp;&nbsp;**Unrealized<br> Appreciation** | &nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3702704 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5078000 | &nbsp;&nbsp;08/27/2025 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$(33217) |
|  | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1701470 | &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;146340000 | &nbsp;&nbsp;08/20/2025 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (30814) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(103543) |
| Unrealized Appreciation (Depreciation) |  |  |  |  |  | &nbsp;&nbsp;$523781 | &nbsp;&nbsp;$(507013) |

---

---

| |
|:---|
| AUD—Australian Dollar |
| BRL—Brazilian Real |
| CAD—Canadian Dollar |
| CHF—Swiss Franc |
| CNH—Yuan Renminbi Offshore |
| DKK—Danish Krone |
| EUR—Euro Currency |
| GBP—British Pound |

---

---

| |
|:---|
| HKD—Hong Kong Dollar |
| INR—Indian Rupee |
| JPY—Japanese Yen |
| KRW—South Korean Won |
| NOK—Norwegian Krone |
| SEK—Swedish Krona |
| TWD—New Taiwan Dollar |
| USD—United States Dollar |

---

---

| | |
|:---|:---|
| **Industry Allocation\*** |  |
| Banks | &nbsp;&nbsp;17.1% |
| Internet | &nbsp;&nbsp;&nbsp;&nbsp;6.5 |
| Semiconductors | &nbsp;&nbsp;&nbsp;&nbsp;6.5 |
| Insurance | &nbsp;&nbsp;&nbsp;&nbsp;5.8 |
| Software | &nbsp;&nbsp;&nbsp;&nbsp;5.7 |
| Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;5.0 |
| Diversified Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;4.0 |
| REITS | &nbsp;&nbsp;&nbsp;&nbsp;3.5 |
| Electric | &nbsp;&nbsp;&nbsp;&nbsp;3.2 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;2.9 |
| Oil & Gas | &nbsp;&nbsp;&nbsp;&nbsp;2.8 |
| Telecommunications | &nbsp;&nbsp;&nbsp;&nbsp;2.6 |
| Retail | &nbsp;&nbsp;&nbsp;&nbsp;2.4 |
| Computers | &nbsp;&nbsp;&nbsp;&nbsp;2.4 |
| Auto Manufacturers | &nbsp;&nbsp;&nbsp;&nbsp;2.2 |
| Media | &nbsp;&nbsp;&nbsp;&nbsp;2.0 |
| Pipelines | &nbsp;&nbsp;&nbsp;&nbsp;2.0 |
| Aerospace/Defense | &nbsp;&nbsp;&nbsp;&nbsp;1.8 |
| Healthcare-Services | &nbsp;&nbsp;&nbsp;&nbsp;1.8 |
| Food | &nbsp;&nbsp;&nbsp;&nbsp;1.3 |
| Commercial Services | &nbsp;&nbsp;&nbsp;&nbsp;1.3 |
| Cosmetics/Personal Care | &nbsp;&nbsp;&nbsp;&nbsp;1.3 |
| Healthcare-Products | &nbsp;&nbsp;&nbsp;&nbsp;1.2 |
| Beverages | &nbsp;&nbsp;&nbsp;&nbsp;1.2 |
| Electrical Components & Equipment | &nbsp;&nbsp;&nbsp;&nbsp;1.1 |
| Miscellaneous Manufacturing | &nbsp;&nbsp;&nbsp;&nbsp;0.9 |
| Machinery-Diversified | &nbsp;&nbsp;&nbsp;&nbsp;0.8 |
| Building Materials | &nbsp;&nbsp;&nbsp;&nbsp;0.7 |
| Distribution/Wholesale | &nbsp;&nbsp;&nbsp;&nbsp;0.7 |
| Electronics | &nbsp;&nbsp;&nbsp;&nbsp;0.6 |
| Machinery-Construction & Mining | &nbsp;&nbsp;&nbsp;&nbsp;0.6 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp;&nbsp;&nbsp;0.6 |
| Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;0.4 |
| Apparel | &nbsp;&nbsp;&nbsp;&nbsp;0.4 |
| Home Furnishings | &nbsp;&nbsp;&nbsp;&nbsp;0.4 |
| Leisure Time | &nbsp;&nbsp;&nbsp;&nbsp;0.4 |
| Household Products/Wares | &nbsp;&nbsp;&nbsp;&nbsp;0.4 |
| Environmental Control | &nbsp;&nbsp;&nbsp;&nbsp;0.4 |
| Mining | &nbsp;&nbsp;&nbsp;&nbsp;0.4 |
| Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;0.4 |
| Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Auto Parts & Equipment | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Private Equity | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Energy-Alternate Sources | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Transportation | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Schroders VCP Global Allocation Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | |
|:---|:---|
| **Industry Allocation\*(continued)** |  |
| Iron/Steel | &nbsp;&nbsp;&nbsp;&nbsp;0.1% |
| Purchased Options | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Real Estate | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Gas | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Shipbuilding | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Toys/Games/Hobbies | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
|  | &nbsp;&nbsp;97.7% |

---

\* Calculated as a percentage of net assets

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp;$216810350 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$216810350 |
| Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;176330506 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;176330506 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2420272 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2420272 |
| Purchased Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400305 |
| Warrants | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;12141392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;12141392 |
| **Total Investments at Value** | &nbsp;&nbsp;$229352047 | &nbsp;&nbsp;$178750778 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$408102825 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;$3506904 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$3506904 |
| Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523781 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523781 |
| **Total Other Financial Instruments** | &nbsp;&nbsp;$3506904 | &nbsp;&nbsp;$523781 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$4030685 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;$1059145 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1059145 |
| Forward Foreign Currency Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507013 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507013 |
| **Total Other Financial Instruments** | &nbsp;&nbsp;$1059145 | &nbsp;&nbsp;$507013 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1566158 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | &nbsp;&nbsp;Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

Level 3 investments in securities were not considered a significant portion of the Portfolio's net assets.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Small Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 98.9%** | **COMMON STOCKS — 98.9%** | **COMMON STOCKS — 98.9%** |
| **Advertising — 0.1%** | **Advertising — 0.1%** | **Advertising — 0.1%** |
| &nbsp;&nbsp;&nbsp;Advantage Solutions, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10833 | &nbsp;&nbsp;$14841 |
| &nbsp;&nbsp;&nbsp;Boston Omaha Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2788 | &nbsp;&nbsp;&nbsp;&nbsp; 37499 |
| &nbsp;&nbsp;&nbsp;National CineMedia, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7877 | &nbsp;&nbsp;&nbsp;&nbsp; 37888 |
| &nbsp;&nbsp;&nbsp;Nexxen International, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4299 | &nbsp;&nbsp;&nbsp;&nbsp; 44194 |
| &nbsp;&nbsp;&nbsp;Stagwell, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13128 | &nbsp;&nbsp;&nbsp;&nbsp; 75224 |
| &nbsp;&nbsp;&nbsp;TechTarget, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2993 | &nbsp;&nbsp;&nbsp;&nbsp; 21669 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231315 |
| **Aerospace/Defense — 1.9%** | **Aerospace/Defense — 1.9%** | **Aerospace/Defense — 1.9%** |
| &nbsp;&nbsp;&nbsp;AAR Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4102 | &nbsp;&nbsp;&nbsp;&nbsp; 306460 |
| &nbsp;&nbsp;&nbsp;AeroVironment, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3631 | &nbsp;&nbsp;&nbsp;&nbsp; 971801 |
| &nbsp;&nbsp;&nbsp;AerSale Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3234 | &nbsp;&nbsp;&nbsp;&nbsp; 19533 |
| &nbsp;&nbsp;&nbsp;Amprius Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10596 | &nbsp;&nbsp;&nbsp;&nbsp; 73430 |
| &nbsp;&nbsp;&nbsp;Archer Aviation, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;62277 | &nbsp;&nbsp;&nbsp;&nbsp; 624638 |
| &nbsp;&nbsp;&nbsp;Astronics Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3457 | &nbsp;&nbsp;&nbsp;&nbsp; 124867 |
| &nbsp;&nbsp;&nbsp;Ducommun, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1570 | &nbsp;&nbsp;&nbsp;&nbsp; 142839 |
| &nbsp;&nbsp;&nbsp;Eve Holding, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5831 | &nbsp;&nbsp;&nbsp;&nbsp; 37902 |
| &nbsp;&nbsp;&nbsp;Intuitive Machines, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12442 | &nbsp;&nbsp;&nbsp;&nbsp; 138853 |
| &nbsp;&nbsp;&nbsp;Joby Aviation, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;52725 | &nbsp;&nbsp;&nbsp;&nbsp; 878399 |
| &nbsp;&nbsp;&nbsp;Kratos Defense & Security Solutions, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;18815 | &nbsp;&nbsp;&nbsp;&nbsp; 1104440 |
| &nbsp;&nbsp;&nbsp;Mercury Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5941 | &nbsp;&nbsp;&nbsp;&nbsp; 312437 |
| &nbsp;&nbsp;&nbsp;Moog, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3216 | &nbsp;&nbsp;&nbsp;&nbsp; 622553 |
| &nbsp;&nbsp;&nbsp;National Presto Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571 | &nbsp;&nbsp;&nbsp;&nbsp; 55073 |
| &nbsp;&nbsp;&nbsp;Red Cat Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8512 | &nbsp;&nbsp;&nbsp;&nbsp; 70479 |
| &nbsp;&nbsp;&nbsp;Redwire Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3819 | &nbsp;&nbsp;&nbsp;&nbsp; 54574 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5538278 |
| **Agriculture — 0.3%** | **Agriculture — 0.3%** | **Agriculture — 0.3%** |
| &nbsp;&nbsp;&nbsp;Alico, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804 | &nbsp;&nbsp;&nbsp;&nbsp; 25953 |
| &nbsp;&nbsp;&nbsp;Andersons, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3693 | &nbsp;&nbsp;&nbsp;&nbsp; 132653 |
| &nbsp;&nbsp;&nbsp;Dole PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7545 | &nbsp;&nbsp;&nbsp;&nbsp; 107441 |
| &nbsp;&nbsp;&nbsp;Fresh Del Monte Produce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3824 | &nbsp;&nbsp;&nbsp;&nbsp; 143744 |
| &nbsp;&nbsp;&nbsp;Ispire Technology, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2550 | &nbsp;&nbsp;&nbsp;&nbsp; 6987 |
| &nbsp;&nbsp;&nbsp;Limoneira Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1943 | &nbsp;&nbsp;&nbsp;&nbsp; 28523 |
| &nbsp;&nbsp;&nbsp;Tejon Ranch Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2368 | &nbsp;&nbsp;&nbsp;&nbsp; 42529 |
| &nbsp;&nbsp;&nbsp;Turning Point Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1926 | &nbsp;&nbsp;&nbsp;&nbsp; 159743 |
| &nbsp;&nbsp;&nbsp;Universal Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2719 | &nbsp;&nbsp;&nbsp;&nbsp; 148104 |
| &nbsp;&nbsp;&nbsp;Vital Farms, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3956 | &nbsp;&nbsp;&nbsp;&nbsp; 147163 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;942840 |
| **Airlines — 0.3%** | **Airlines — 0.3%** | **Airlines — 0.3%** |
| &nbsp;&nbsp;&nbsp;Allegiant Travel Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1794 | &nbsp;&nbsp;&nbsp;&nbsp; 92642 |
| &nbsp;&nbsp;&nbsp;Frontier Group Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9625 | &nbsp;&nbsp;&nbsp;&nbsp; 42157 |
| &nbsp;&nbsp;&nbsp;JetBlue Airways Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;36752 | &nbsp;&nbsp;&nbsp;&nbsp; 163179 |
| &nbsp;&nbsp;&nbsp;SkyWest, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4603 | &nbsp;&nbsp;&nbsp;&nbsp; 533764 |
| &nbsp;&nbsp;&nbsp;Spirit Aviation Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1829 | &nbsp;&nbsp;&nbsp;&nbsp; 7481 |
| &nbsp;&nbsp;&nbsp;Sun Country Airlines Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5817 | &nbsp;&nbsp;&nbsp;&nbsp; 67419 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;906642 |
| **Apparel — 0.5%** | **Apparel — 0.5%** | **Apparel — 0.5%** |
| &nbsp;&nbsp;&nbsp;Capri Holdings, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;13235 | &nbsp;&nbsp;&nbsp;&nbsp; 240745 |
| &nbsp;&nbsp;&nbsp;Carter's, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4048 | &nbsp;&nbsp;&nbsp;&nbsp; 98124 |
| &nbsp;&nbsp;&nbsp;Ermenegildo Zegna NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7025 | &nbsp;&nbsp;&nbsp;&nbsp; 56481 |
| &nbsp;&nbsp;&nbsp;Hanesbrands, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;39710 | &nbsp;&nbsp;&nbsp;&nbsp; 162414 |
| &nbsp;&nbsp;&nbsp;Kontoor Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6295 | &nbsp;&nbsp;&nbsp;&nbsp; 350380 |
| &nbsp;&nbsp;&nbsp;Lakeland Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1041 | &nbsp;&nbsp;&nbsp;&nbsp; 14480 |
| &nbsp;&nbsp;&nbsp;Oxford Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1678 | &nbsp;&nbsp;&nbsp;&nbsp; 64066 |
| &nbsp;&nbsp;&nbsp;Rocky Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;819 | &nbsp;&nbsp;&nbsp;&nbsp; 21425 |
| &nbsp;&nbsp;&nbsp;Steven Madden, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8074 | &nbsp;&nbsp;&nbsp;&nbsp; 193816 |
| &nbsp;&nbsp;&nbsp;Superior Group of Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1270 | &nbsp;&nbsp;&nbsp;&nbsp; 12255 |
| &nbsp;&nbsp;&nbsp;Torrid Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2718 | &nbsp;&nbsp;&nbsp;&nbsp; 6768 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Apparel (continued)** | **Apparel (continued)** | **Apparel (continued)** |
| &nbsp;&nbsp;&nbsp;Weyco Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;686 | &nbsp;&nbsp;$19949 |
| &nbsp;&nbsp;&nbsp;Wolverine World Wide, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9206 | &nbsp;&nbsp;&nbsp;&nbsp; 207871 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1448774 |
| **Auto Manufacturers — 0.2%** | **Auto Manufacturers — 0.2%** | **Auto Manufacturers — 0.2%** |
| &nbsp;&nbsp;&nbsp;Blue Bird Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3656 | &nbsp;&nbsp;&nbsp;&nbsp; 163752 |
| &nbsp;&nbsp;&nbsp;Hyliion Holdings Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;17468 | &nbsp;&nbsp;&nbsp;&nbsp; 26202 |
| &nbsp;&nbsp;&nbsp;REV Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5874 | &nbsp;&nbsp;&nbsp;&nbsp; 291057 |
| &nbsp;&nbsp;&nbsp;Wabash National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4958 | &nbsp;&nbsp;&nbsp;&nbsp; 49382 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530393 |
| **Auto Parts & Equipment — 1.0%** | **Auto Parts & Equipment — 1.0%** | **Auto Parts & Equipment — 1.0%** |
| &nbsp;&nbsp;&nbsp;Adient PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9617 | &nbsp;&nbsp;&nbsp;&nbsp; 206188 |
| &nbsp;&nbsp;&nbsp;Aeva Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3484 | &nbsp;&nbsp;&nbsp;&nbsp; 64942 |
| &nbsp;&nbsp;&nbsp;American Axle & Manufacturing Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13006 | &nbsp;&nbsp;&nbsp;&nbsp; 57877 |
| &nbsp;&nbsp;&nbsp;Cooper-Standard Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1893 | &nbsp;&nbsp;&nbsp;&nbsp; 45621 |
| &nbsp;&nbsp;&nbsp;Dana, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15235 | &nbsp;&nbsp;&nbsp;&nbsp; 242541 |
| &nbsp;&nbsp;&nbsp;Dorman Products, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3140 | &nbsp;&nbsp;&nbsp;&nbsp; 378747 |
| &nbsp;&nbsp;&nbsp;Douglas Dynamics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2529 | &nbsp;&nbsp;&nbsp;&nbsp; 72329 |
| &nbsp;&nbsp;&nbsp;Fox Factory Holding Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4831 | &nbsp;&nbsp;&nbsp;&nbsp; 146717 |
| &nbsp;&nbsp;&nbsp;Garrett Motion, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14439 | &nbsp;&nbsp;&nbsp;&nbsp; 188285 |
| &nbsp;&nbsp;&nbsp;Gentherm, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3434 | &nbsp;&nbsp;&nbsp;&nbsp; 110025 |
| &nbsp;&nbsp;&nbsp;Goodyear Tire & Rubber Co.† | &nbsp;&nbsp;&nbsp;&nbsp;29706 | &nbsp;&nbsp;&nbsp;&nbsp; 305378 |
| &nbsp;&nbsp;&nbsp;Holley, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6801 | &nbsp;&nbsp;&nbsp;&nbsp; 14146 |
| &nbsp;&nbsp;&nbsp;indie Semiconductor, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;22052 | &nbsp;&nbsp;&nbsp;&nbsp; 86223 |
| &nbsp;&nbsp;&nbsp;Luminar Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4573 | &nbsp;&nbsp;&nbsp;&nbsp; 13582 |
| &nbsp;&nbsp;&nbsp;Methode Electronics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3732 | &nbsp;&nbsp;&nbsp;&nbsp; 24482 |
| &nbsp;&nbsp;&nbsp;Microvast Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;22624 | &nbsp;&nbsp;&nbsp;&nbsp; 71718 |
| &nbsp;&nbsp;&nbsp;Miller Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1289 | &nbsp;&nbsp;&nbsp;&nbsp; 52527 |
| &nbsp;&nbsp;&nbsp;Motorcar Parts of America, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2075 | &nbsp;&nbsp;&nbsp;&nbsp; 21518 |
| &nbsp;&nbsp;&nbsp;Phinia, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4730 | &nbsp;&nbsp;&nbsp;&nbsp; 239811 |
| &nbsp;&nbsp;&nbsp;Solid Power, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;17529 | &nbsp;&nbsp;&nbsp;&nbsp; 55918 |
| &nbsp;&nbsp;&nbsp;Standard Motor Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2404 | &nbsp;&nbsp;&nbsp;&nbsp; 72985 |
| &nbsp;&nbsp;&nbsp;Strattec Security Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441 | &nbsp;&nbsp;&nbsp;&nbsp; 27986 |
| &nbsp;&nbsp;&nbsp;Titan International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5845 | &nbsp;&nbsp;&nbsp;&nbsp; 49449 |
| &nbsp;&nbsp;&nbsp;Visteon Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3125 | &nbsp;&nbsp;&nbsp;&nbsp; 347344 |
| &nbsp;&nbsp;&nbsp;XPEL, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2834 | &nbsp;&nbsp;&nbsp;&nbsp; 92643 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2988982 |
| **Banks — 9.4%** | **Banks — 9.4%** | **Banks — 9.4%** |
| &nbsp;&nbsp;&nbsp;1st Source Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2169 | &nbsp;&nbsp;&nbsp;&nbsp; 129750 |
| &nbsp;&nbsp;&nbsp;ACNB Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170 | &nbsp;&nbsp;&nbsp;&nbsp; 49257 |
| &nbsp;&nbsp;&nbsp;Alerus Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2540 | &nbsp;&nbsp;&nbsp;&nbsp; 53696 |
| &nbsp;&nbsp;&nbsp;Amalgamated Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2663 | &nbsp;&nbsp;&nbsp;&nbsp; 77200 |
| &nbsp;&nbsp;&nbsp;Amerant Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4189 | &nbsp;&nbsp;&nbsp;&nbsp; 80848 |
| &nbsp;&nbsp;&nbsp;Ameris Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7526 | &nbsp;&nbsp;&nbsp;&nbsp; 514402 |
| &nbsp;&nbsp;&nbsp;Ames National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994 | &nbsp;&nbsp;&nbsp;&nbsp; 17942 |
| &nbsp;&nbsp;&nbsp;Arrow Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1857 | &nbsp;&nbsp;&nbsp;&nbsp; 49768 |
| &nbsp;&nbsp;&nbsp;Associated Banc-Corp. | &nbsp;&nbsp;&nbsp;&nbsp;19045 | &nbsp;&nbsp;&nbsp;&nbsp; 471173 |
| &nbsp;&nbsp;&nbsp;Atlantic Union Bankshares Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16220 | &nbsp;&nbsp;&nbsp;&nbsp; 514174 |
| &nbsp;&nbsp;&nbsp;BancFirst Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2399 | &nbsp;&nbsp;&nbsp;&nbsp; 298723 |
| &nbsp;&nbsp;&nbsp;Bancorp, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5185 | &nbsp;&nbsp;&nbsp;&nbsp; 327485 |
| &nbsp;&nbsp;&nbsp;Bank First Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1097 | &nbsp;&nbsp;&nbsp;&nbsp; 130346 |
| &nbsp;&nbsp;&nbsp;Bank of Hawaii Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4579 | &nbsp;&nbsp;&nbsp;&nbsp; 283349 |
| &nbsp;&nbsp;&nbsp;Bank of Marin Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1660 | &nbsp;&nbsp;&nbsp;&nbsp; 37599 |
| &nbsp;&nbsp;&nbsp;Bank of N.T. Butterfield & Son, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5021 | &nbsp;&nbsp;&nbsp;&nbsp; 228506 |
| &nbsp;&nbsp;&nbsp;Bank7 Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527 | &nbsp;&nbsp;&nbsp;&nbsp; 23341 |
| &nbsp;&nbsp;&nbsp;BankUnited, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8548 | &nbsp;&nbsp;&nbsp;&nbsp; 311746 |
| &nbsp;&nbsp;&nbsp;Bankwell Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811 | &nbsp;&nbsp;&nbsp;&nbsp; 32359 |
| &nbsp;&nbsp;&nbsp;Banner Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3883 | &nbsp;&nbsp;&nbsp;&nbsp; 241037 |
| &nbsp;&nbsp;&nbsp;Bar Harbor Bankshares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1690 | &nbsp;&nbsp;&nbsp;&nbsp; 49078 |
| &nbsp;&nbsp;&nbsp;BayCom Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1079 | &nbsp;&nbsp;&nbsp;&nbsp; 29144 |
| &nbsp;&nbsp;&nbsp;BCB Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1689 | &nbsp;&nbsp;&nbsp;&nbsp; 14120 |
| &nbsp;&nbsp;&nbsp;Blue Foundry Bancorp† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2173 | &nbsp;&nbsp;&nbsp;&nbsp; 18579 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Small Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;Blue Ridge Bankshares, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7303 | &nbsp;&nbsp;$26802 |
| &nbsp;&nbsp;&nbsp;Bridgewater Bancshares, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2431 | &nbsp;&nbsp;&nbsp;&nbsp; 37826 |
| &nbsp;&nbsp;&nbsp;Burke & Herbert Financial Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1532 | &nbsp;&nbsp;&nbsp;&nbsp; 88841 |
| &nbsp;&nbsp;&nbsp;Business First Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3238 | &nbsp;&nbsp;&nbsp;&nbsp; 76902 |
| &nbsp;&nbsp;&nbsp;Byline Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3547 | &nbsp;&nbsp;&nbsp;&nbsp; 93286 |
| &nbsp;&nbsp;&nbsp;C & F Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347 | &nbsp;&nbsp;&nbsp;&nbsp; 22156 |
| &nbsp;&nbsp;&nbsp;Cadence Bank | &nbsp;&nbsp;&nbsp;&nbsp;17070 | &nbsp;&nbsp;&nbsp;&nbsp; 594889 |
| &nbsp;&nbsp;&nbsp;California Bancorp† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2556 | &nbsp;&nbsp;&nbsp;&nbsp; 38314 |
| &nbsp;&nbsp;&nbsp;Camden National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1854 | &nbsp;&nbsp;&nbsp;&nbsp; 69914 |
| &nbsp;&nbsp;&nbsp;Capital Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1331 | &nbsp;&nbsp;&nbsp;&nbsp; 41900 |
| &nbsp;&nbsp;&nbsp;Capital City Bank Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1559 | &nbsp;&nbsp;&nbsp;&nbsp; 61721 |
| &nbsp;&nbsp;&nbsp;Carter Bankshares, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2580 | &nbsp;&nbsp;&nbsp;&nbsp; 44840 |
| &nbsp;&nbsp;&nbsp;Cathay General Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7667 | &nbsp;&nbsp;&nbsp;&nbsp; 346702 |
| &nbsp;&nbsp;&nbsp;Cb Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp; 16777 |
| &nbsp;&nbsp;&nbsp;Central Pacific Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3036 | &nbsp;&nbsp;&nbsp;&nbsp; 80940 |
| &nbsp;&nbsp;&nbsp;Chain Bridge Bancorp, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266 | &nbsp;&nbsp;&nbsp;&nbsp; 7033 |
| &nbsp;&nbsp;&nbsp;Chemung Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473 | &nbsp;&nbsp;&nbsp;&nbsp; 23934 |
| &nbsp;&nbsp;&nbsp;ChoiceOne Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1627 | &nbsp;&nbsp;&nbsp;&nbsp; 47834 |
| &nbsp;&nbsp;&nbsp;Citizens & Northern Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1683 | &nbsp;&nbsp;&nbsp;&nbsp; 32011 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516 | &nbsp;&nbsp;&nbsp;&nbsp; 27704 |
| &nbsp;&nbsp;&nbsp;City Holding Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1629 | &nbsp;&nbsp;&nbsp;&nbsp; 198901 |
| &nbsp;&nbsp;&nbsp;Civista Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1606 | &nbsp;&nbsp;&nbsp;&nbsp; 31269 |
| &nbsp;&nbsp;&nbsp;CNB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3141 | &nbsp;&nbsp;&nbsp;&nbsp; 72086 |
| &nbsp;&nbsp;&nbsp;Coastal Financial Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1473 | &nbsp;&nbsp;&nbsp;&nbsp; 141703 |
| &nbsp;&nbsp;&nbsp;Colony Bankcorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2050 | &nbsp;&nbsp;&nbsp;&nbsp; 33600 |
| &nbsp;&nbsp;&nbsp;Community Financial System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6022 | &nbsp;&nbsp;&nbsp;&nbsp; 317359 |
| &nbsp;&nbsp;&nbsp;Community Trust Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1824 | &nbsp;&nbsp;&nbsp;&nbsp; 98460 |
| &nbsp;&nbsp;&nbsp;Community West Bancshares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1913 | &nbsp;&nbsp;&nbsp;&nbsp; 36825 |
| &nbsp;&nbsp;&nbsp;ConnectOne Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5477 | &nbsp;&nbsp;&nbsp;&nbsp; 126135 |
| &nbsp;&nbsp;&nbsp;Customers Bancorp, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3394 | &nbsp;&nbsp;&nbsp;&nbsp; 216367 |
| &nbsp;&nbsp;&nbsp;CVB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15106 | &nbsp;&nbsp;&nbsp;&nbsp; 282331 |
| &nbsp;&nbsp;&nbsp;Dime Community Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4555 | &nbsp;&nbsp;&nbsp;&nbsp; 126219 |
| &nbsp;&nbsp;&nbsp;Eagle Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3394 | &nbsp;&nbsp;&nbsp;&nbsp; 54609 |
| &nbsp;&nbsp;&nbsp;Eagle Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522 | &nbsp;&nbsp;&nbsp;&nbsp; 17231 |
| &nbsp;&nbsp;&nbsp;Eastern Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22369 | &nbsp;&nbsp;&nbsp;&nbsp; 345601 |
| &nbsp;&nbsp;&nbsp;ECB Bancorp, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp;&nbsp;&nbsp; 13624 |
| &nbsp;&nbsp;&nbsp;Enterprise Financial Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4158 | &nbsp;&nbsp;&nbsp;&nbsp; 229480 |
| &nbsp;&nbsp;&nbsp;Equity Bancshares, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1847 | &nbsp;&nbsp;&nbsp;&nbsp; 69410 |
| &nbsp;&nbsp;&nbsp;Esquire Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;799 | &nbsp;&nbsp;&nbsp;&nbsp; 76608 |
| &nbsp;&nbsp;&nbsp;Farmers & Merchants Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1441 | &nbsp;&nbsp;&nbsp;&nbsp; 34598 |
| &nbsp;&nbsp;&nbsp;Farmers National Banc Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4119 | &nbsp;&nbsp;&nbsp;&nbsp; 55771 |
| &nbsp;&nbsp;&nbsp;FB Bancorp, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2028 | &nbsp;&nbsp;&nbsp;&nbsp; 23667 |
| &nbsp;&nbsp;&nbsp;FB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4747 | &nbsp;&nbsp;&nbsp;&nbsp; 231464 |
| &nbsp;&nbsp;&nbsp;Fidelity D&D Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538 | &nbsp;&nbsp;&nbsp;&nbsp; 21757 |
| &nbsp;&nbsp;&nbsp;Financial Institutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2278 | &nbsp;&nbsp;&nbsp;&nbsp; 58066 |
| &nbsp;&nbsp;&nbsp;Finwise Bancorp† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1030 | &nbsp;&nbsp;&nbsp;&nbsp; 18406 |
| &nbsp;&nbsp;&nbsp;First Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4611 | &nbsp;&nbsp;&nbsp;&nbsp; 230965 |
| &nbsp;&nbsp;&nbsp;First Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1212 | &nbsp;&nbsp;&nbsp;&nbsp; 30555 |
| &nbsp;&nbsp;&nbsp;First BanCorp. | &nbsp;&nbsp;&nbsp;&nbsp;18398 | &nbsp;&nbsp;&nbsp;&nbsp; 383230 |
| &nbsp;&nbsp;&nbsp;First Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2385 | &nbsp;&nbsp;&nbsp;&nbsp; 35537 |
| &nbsp;&nbsp;&nbsp;First Busey Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9738 | &nbsp;&nbsp;&nbsp;&nbsp; 217352 |
| &nbsp;&nbsp;&nbsp;First Business Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891 | &nbsp;&nbsp;&nbsp;&nbsp; 42429 |
| &nbsp;&nbsp;&nbsp;First Commonwealth Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11571 | &nbsp;&nbsp;&nbsp;&nbsp; 191037 |
| &nbsp;&nbsp;&nbsp;First Community Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1917 | &nbsp;&nbsp;&nbsp;&nbsp; 69970 |
| &nbsp;&nbsp;&nbsp;First Community Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;841 | &nbsp;&nbsp;&nbsp;&nbsp; 20836 |
| &nbsp;&nbsp;&nbsp;First Financial Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;10845 | &nbsp;&nbsp;&nbsp;&nbsp; 262883 |
| &nbsp;&nbsp;&nbsp;First Financial Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15385 | &nbsp;&nbsp;&nbsp;&nbsp; 532629 |
| &nbsp;&nbsp;&nbsp;First Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1295 | &nbsp;&nbsp;&nbsp;&nbsp; 69347 |
| &nbsp;&nbsp;&nbsp;First Foundation, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7429 | &nbsp;&nbsp;&nbsp;&nbsp; 36179 |
| &nbsp;&nbsp;&nbsp;First Internet Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810 | &nbsp;&nbsp;&nbsp;&nbsp; 17763 |
| &nbsp;&nbsp;&nbsp;First Interstate BancSystem, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;10113 | &nbsp;&nbsp;&nbsp;&nbsp; 291153 |
| &nbsp;&nbsp;&nbsp;First Merchants Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6643 | &nbsp;&nbsp;&nbsp;&nbsp; 253231 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;First Mid Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2586 | &nbsp;&nbsp;$98190 |
| &nbsp;&nbsp;&nbsp;First National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;886 | &nbsp;&nbsp;&nbsp;&nbsp; 19138 |
| &nbsp;&nbsp;&nbsp;First United Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684 | &nbsp;&nbsp;&nbsp;&nbsp; 22483 |
| &nbsp;&nbsp;&nbsp;Firstsun Capital Bancorp† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1433 | &nbsp;&nbsp;&nbsp;&nbsp; 50943 |
| &nbsp;&nbsp;&nbsp;Five Star Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1887 | &nbsp;&nbsp;&nbsp;&nbsp; 56780 |
| &nbsp;&nbsp;&nbsp;Franklin Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477 | &nbsp;&nbsp;&nbsp;&nbsp; 19175 |
| &nbsp;&nbsp;&nbsp;Fulton Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;20463 | &nbsp;&nbsp;&nbsp;&nbsp; 367311 |
| &nbsp;&nbsp;&nbsp;FVCBankcorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1801 | &nbsp;&nbsp;&nbsp;&nbsp; 23071 |
| &nbsp;&nbsp;&nbsp;German American Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4124 | &nbsp;&nbsp;&nbsp;&nbsp; 158444 |
| &nbsp;&nbsp;&nbsp;Glacier Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13005 | &nbsp;&nbsp;&nbsp;&nbsp; 570009 |
| &nbsp;&nbsp;&nbsp;Great Southern Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp;&nbsp;&nbsp; 55517 |
| &nbsp;&nbsp;&nbsp;Guaranty Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018 | &nbsp;&nbsp;&nbsp;&nbsp; 44395 |
| &nbsp;&nbsp;&nbsp;Hancock Whitney Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9841 | &nbsp;&nbsp;&nbsp;&nbsp; 587705 |
| &nbsp;&nbsp;&nbsp;Hanmi Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3420 | &nbsp;&nbsp;&nbsp;&nbsp; 78010 |
| &nbsp;&nbsp;&nbsp;Hanover Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539 | &nbsp;&nbsp;&nbsp;&nbsp; 11217 |
| &nbsp;&nbsp;&nbsp;HarborOne Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4516 | &nbsp;&nbsp;&nbsp;&nbsp; 53424 |
| &nbsp;&nbsp;&nbsp;Hawthorn Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661 | &nbsp;&nbsp;&nbsp;&nbsp; 18852 |
| &nbsp;&nbsp;&nbsp;HBT Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1333 | &nbsp;&nbsp;&nbsp;&nbsp; 33152 |
| &nbsp;&nbsp;&nbsp;Heritage Commerce Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6742 | &nbsp;&nbsp;&nbsp;&nbsp; 62364 |
| &nbsp;&nbsp;&nbsp;Heritage Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3872 | &nbsp;&nbsp;&nbsp;&nbsp; 87275 |
| &nbsp;&nbsp;&nbsp;Hilltop Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5270 | &nbsp;&nbsp;&nbsp;&nbsp; 155992 |
| &nbsp;&nbsp;&nbsp;Home BancShares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21534 | &nbsp;&nbsp;&nbsp;&nbsp; 606397 |
| &nbsp;&nbsp;&nbsp;HomeStreet, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2203 | &nbsp;&nbsp;&nbsp;&nbsp; 28815 |
| &nbsp;&nbsp;&nbsp;Hope Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13296 | &nbsp;&nbsp;&nbsp;&nbsp; 132827 |
| &nbsp;&nbsp;&nbsp;Horizon Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4903 | &nbsp;&nbsp;&nbsp;&nbsp; 75947 |
| &nbsp;&nbsp;&nbsp;Independent Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5534 | &nbsp;&nbsp;&nbsp;&nbsp; 351686 |
| &nbsp;&nbsp;&nbsp;International Bancshares Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6247 | &nbsp;&nbsp;&nbsp;&nbsp; 425920 |
| &nbsp;&nbsp;&nbsp;Investar Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1046 | &nbsp;&nbsp;&nbsp;&nbsp; 22698 |
| &nbsp;&nbsp;&nbsp;John Marshall Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1417 | &nbsp;&nbsp;&nbsp;&nbsp; 26087 |
| &nbsp;&nbsp;&nbsp;Kearny Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6196 | &nbsp;&nbsp;&nbsp;&nbsp; 36742 |
| &nbsp;&nbsp;&nbsp;Lakeland Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2914 | &nbsp;&nbsp;&nbsp;&nbsp; 184660 |
| &nbsp;&nbsp;&nbsp;Landmark Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516 | &nbsp;&nbsp;&nbsp;&nbsp; 12534 |
| &nbsp;&nbsp;&nbsp;LCNB Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1645 | &nbsp;&nbsp;&nbsp;&nbsp; 24280 |
| &nbsp;&nbsp;&nbsp;LINKBANCORP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2097 | &nbsp;&nbsp;&nbsp;&nbsp; 14427 |
| &nbsp;&nbsp;&nbsp;Live Oak Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4040 | &nbsp;&nbsp;&nbsp;&nbsp; 127704 |
| &nbsp;&nbsp;&nbsp;Mainstreet Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp; 16160 |
| &nbsp;&nbsp;&nbsp;Mercantile Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1785 | &nbsp;&nbsp;&nbsp;&nbsp; 81557 |
| &nbsp;&nbsp;&nbsp;Merchants Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2950 | &nbsp;&nbsp;&nbsp;&nbsp; 86435 |
| &nbsp;&nbsp;&nbsp;Meridian Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1031 | &nbsp;&nbsp;&nbsp;&nbsp; 15187 |
| &nbsp;&nbsp;&nbsp;Metrocity Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2225 | &nbsp;&nbsp;&nbsp;&nbsp; 61410 |
| &nbsp;&nbsp;&nbsp;Metropolitan Bank Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1196 | &nbsp;&nbsp;&nbsp;&nbsp; 84366 |
| &nbsp;&nbsp;&nbsp;Mid Penn Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2254 | &nbsp;&nbsp;&nbsp;&nbsp; 61872 |
| &nbsp;&nbsp;&nbsp;Middlefield Banc Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822 | &nbsp;&nbsp;&nbsp;&nbsp; 22893 |
| &nbsp;&nbsp;&nbsp;Midland States Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2367 | &nbsp;&nbsp;&nbsp;&nbsp; 40144 |
| &nbsp;&nbsp;&nbsp;MidWestOne Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2333 | &nbsp;&nbsp;&nbsp;&nbsp; 64251 |
| &nbsp;&nbsp;&nbsp;MVB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1298 | &nbsp;&nbsp;&nbsp;&nbsp; 29517 |
| &nbsp;&nbsp;&nbsp;National Bank Holdings Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4311 | &nbsp;&nbsp;&nbsp;&nbsp; 159766 |
| &nbsp;&nbsp;&nbsp;National Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;758 | &nbsp;&nbsp;&nbsp;&nbsp; 21042 |
| &nbsp;&nbsp;&nbsp;NB Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4404 | &nbsp;&nbsp;&nbsp;&nbsp; 75881 |
| &nbsp;&nbsp;&nbsp;NBT Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5824 | &nbsp;&nbsp;&nbsp;&nbsp; 240997 |
| &nbsp;&nbsp;&nbsp;Nicolet Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1550 | &nbsp;&nbsp;&nbsp;&nbsp; 199950 |
| &nbsp;&nbsp;&nbsp;Northeast Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;844 | &nbsp;&nbsp;&nbsp;&nbsp; 83699 |
| &nbsp;&nbsp;&nbsp;Northeast Community Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1393 | &nbsp;&nbsp;&nbsp;&nbsp; 28779 |
| &nbsp;&nbsp;&nbsp;Northpointe Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp; 17616 |
| &nbsp;&nbsp;&nbsp;Northrim BanCorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634 | &nbsp;&nbsp;&nbsp;&nbsp; 52958 |
| &nbsp;&nbsp;&nbsp;Norwood Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1055 | &nbsp;&nbsp;&nbsp;&nbsp; 25573 |
| &nbsp;&nbsp;&nbsp;Oak Valley Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771 | &nbsp;&nbsp;&nbsp;&nbsp; 20547 |
| &nbsp;&nbsp;&nbsp;OFG Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5155 | &nbsp;&nbsp;&nbsp;&nbsp; 219706 |
| &nbsp;&nbsp;&nbsp;Ohio Valley Banc Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432 | &nbsp;&nbsp;&nbsp;&nbsp; 13928 |
| &nbsp;&nbsp;&nbsp;Old National Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;36624 | &nbsp;&nbsp;&nbsp;&nbsp; 773133 |
| &nbsp;&nbsp;&nbsp;Old Point Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456 | &nbsp;&nbsp;&nbsp;&nbsp; 18308 |
| &nbsp;&nbsp;&nbsp;Old Second Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4929 | &nbsp;&nbsp;&nbsp;&nbsp; 83645 |
| &nbsp;&nbsp;&nbsp;Op Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1339 | &nbsp;&nbsp;&nbsp;&nbsp; 17139 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Small Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;Orange County Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1043 | &nbsp;&nbsp;$26065 |
| &nbsp;&nbsp;&nbsp;Origin Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3321 | &nbsp;&nbsp;&nbsp;&nbsp; 121383 |
| &nbsp;&nbsp;&nbsp;Orrstown Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp; 69006 |
| &nbsp;&nbsp;&nbsp;Park National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1687 | &nbsp;&nbsp;&nbsp;&nbsp; 273075 |
| &nbsp;&nbsp;&nbsp;Parke Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1046 | &nbsp;&nbsp;&nbsp;&nbsp; 21600 |
| &nbsp;&nbsp;&nbsp;Pathward Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2674 | &nbsp;&nbsp;&nbsp;&nbsp; 202221 |
| &nbsp;&nbsp;&nbsp;Patriot National Bancorp, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4996 | &nbsp;&nbsp;&nbsp;&nbsp; 7794 |
| &nbsp;&nbsp;&nbsp;PCB Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1234 | &nbsp;&nbsp;&nbsp;&nbsp; 25223 |
| &nbsp;&nbsp;&nbsp;Peapack-Gladstone Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1786 | &nbsp;&nbsp;&nbsp;&nbsp; 45507 |
| &nbsp;&nbsp;&nbsp;Peoples Bancorp of North Carolina, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397 | &nbsp;&nbsp;&nbsp;&nbsp; 11398 |
| &nbsp;&nbsp;&nbsp;Peoples Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3939 | &nbsp;&nbsp;&nbsp;&nbsp; 112813 |
| &nbsp;&nbsp;&nbsp;Peoples Financial Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1099 | &nbsp;&nbsp;&nbsp;&nbsp; 53532 |
| &nbsp;&nbsp;&nbsp;Pioneer Bancorp, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1340 | &nbsp;&nbsp;&nbsp;&nbsp; 16442 |
| &nbsp;&nbsp;&nbsp;Plumas Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555 | &nbsp;&nbsp;&nbsp;&nbsp; 22899 |
| &nbsp;&nbsp;&nbsp;Ponce Financial Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2246 | &nbsp;&nbsp;&nbsp;&nbsp; 31556 |
| &nbsp;&nbsp;&nbsp;Primis Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2239 | &nbsp;&nbsp;&nbsp;&nbsp; 25054 |
| &nbsp;&nbsp;&nbsp;Princeton Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526 | &nbsp;&nbsp;&nbsp;&nbsp; 15880 |
| &nbsp;&nbsp;&nbsp;Provident Bancorp, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1773 | &nbsp;&nbsp;&nbsp;&nbsp; 21648 |
| &nbsp;&nbsp;&nbsp;QCR Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1896 | &nbsp;&nbsp;&nbsp;&nbsp; 134616 |
| &nbsp;&nbsp;&nbsp;RBB Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2012 | &nbsp;&nbsp;&nbsp;&nbsp; 36437 |
| &nbsp;&nbsp;&nbsp;Red River Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569 | &nbsp;&nbsp;&nbsp;&nbsp; 34237 |
| &nbsp;&nbsp;&nbsp;Renasant Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10725 | &nbsp;&nbsp;&nbsp;&nbsp; 392964 |
| &nbsp;&nbsp;&nbsp;Republic Bancorp, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937 | &nbsp;&nbsp;&nbsp;&nbsp; 64522 |
| &nbsp;&nbsp;&nbsp;Rhinebeck Bancorp, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513 | &nbsp;&nbsp;&nbsp;&nbsp; 6510 |
| &nbsp;&nbsp;&nbsp;Richmond Mutual Bancorporati | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1035 | &nbsp;&nbsp;&nbsp;&nbsp; 14324 |
| &nbsp;&nbsp;&nbsp;S&T Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4368 | &nbsp;&nbsp;&nbsp;&nbsp; 160044 |
| &nbsp;&nbsp;&nbsp;Sb Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp; 12697 |
| &nbsp;&nbsp;&nbsp;Seacoast Banking Corp. of Florida | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9673 | &nbsp;&nbsp;&nbsp;&nbsp; 272682 |
| &nbsp;&nbsp;&nbsp;ServisFirst Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5869 | &nbsp;&nbsp;&nbsp;&nbsp; 461597 |
| &nbsp;&nbsp;&nbsp;Shore Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3468 | &nbsp;&nbsp;&nbsp;&nbsp; 53789 |
| &nbsp;&nbsp;&nbsp;Sierra Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1372 | &nbsp;&nbsp;&nbsp;&nbsp; 40227 |
| &nbsp;&nbsp;&nbsp;Simmons First National Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;16130 | &nbsp;&nbsp;&nbsp;&nbsp; 309212 |
| &nbsp;&nbsp;&nbsp;SmartFinancial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1653 | &nbsp;&nbsp;&nbsp;&nbsp; 56632 |
| &nbsp;&nbsp;&nbsp;South Plains Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1462 | &nbsp;&nbsp;&nbsp;&nbsp; 54255 |
| &nbsp;&nbsp;&nbsp;Southern First Bancshares, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;873 | &nbsp;&nbsp;&nbsp;&nbsp; 36282 |
| &nbsp;&nbsp;&nbsp;Southside Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3292 | &nbsp;&nbsp;&nbsp;&nbsp; 96916 |
| &nbsp;&nbsp;&nbsp;SR Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895 | &nbsp;&nbsp;&nbsp;&nbsp; 12458 |
| &nbsp;&nbsp;&nbsp;Stellar Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5350 | &nbsp;&nbsp;&nbsp;&nbsp; 157985 |
| &nbsp;&nbsp;&nbsp;Stock Yards Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2992 | &nbsp;&nbsp;&nbsp;&nbsp; 223682 |
| &nbsp;&nbsp;&nbsp;Texas Capital Bancshares, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5246 | &nbsp;&nbsp;&nbsp;&nbsp; 440507 |
| &nbsp;&nbsp;&nbsp;Third Coast Bancshares, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1464 | &nbsp;&nbsp;&nbsp;&nbsp; 55120 |
| &nbsp;&nbsp;&nbsp;Tompkins Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1533 | &nbsp;&nbsp;&nbsp;&nbsp; 99154 |
| &nbsp;&nbsp;&nbsp;Towne Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8125 | &nbsp;&nbsp;&nbsp;&nbsp; 284619 |
| &nbsp;&nbsp;&nbsp;TriCo Bancshares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3481 | &nbsp;&nbsp;&nbsp;&nbsp; 143139 |
| &nbsp;&nbsp;&nbsp;Triumph Financial, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2551 | &nbsp;&nbsp;&nbsp;&nbsp; 144693 |
| &nbsp;&nbsp;&nbsp;TrustCo Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2040 | &nbsp;&nbsp;&nbsp;&nbsp; 68462 |
| &nbsp;&nbsp;&nbsp;Trustmark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6460 | &nbsp;&nbsp;&nbsp;&nbsp; 240635 |
| &nbsp;&nbsp;&nbsp;UMB Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8304 | &nbsp;&nbsp;&nbsp;&nbsp; 913357 |
| &nbsp;&nbsp;&nbsp;Union Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414 | &nbsp;&nbsp;&nbsp;&nbsp; 11265 |
| &nbsp;&nbsp;&nbsp;United Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16103 | &nbsp;&nbsp;&nbsp;&nbsp; 571979 |
| &nbsp;&nbsp;&nbsp;United Community Banks, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13711 | &nbsp;&nbsp;&nbsp;&nbsp; 418185 |
| &nbsp;&nbsp;&nbsp;United Security Bancshare/Ca | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1574 | &nbsp;&nbsp;&nbsp;&nbsp; 13458 |
| &nbsp;&nbsp;&nbsp;Unity Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865 | &nbsp;&nbsp;&nbsp;&nbsp; 42480 |
| &nbsp;&nbsp;&nbsp;Univest Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3273 | &nbsp;&nbsp;&nbsp;&nbsp; 94393 |
| &nbsp;&nbsp;&nbsp;USCB Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1201 | &nbsp;&nbsp;&nbsp;&nbsp; 19985 |
| &nbsp;&nbsp;&nbsp;Valley National Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;55498 | &nbsp;&nbsp;&nbsp;&nbsp; 514466 |
| &nbsp;&nbsp;&nbsp;Veritex Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6020 | &nbsp;&nbsp;&nbsp;&nbsp; 190954 |
| &nbsp;&nbsp;&nbsp;Virginia National Bankshares Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529 | &nbsp;&nbsp;&nbsp;&nbsp; 19504 |
| &nbsp;&nbsp;&nbsp;Walker & Dunlop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3790 | &nbsp;&nbsp;&nbsp;&nbsp; 284288 |
| &nbsp;&nbsp;&nbsp;Washington Trust Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2203 | &nbsp;&nbsp;&nbsp;&nbsp; 59349 |
| &nbsp;&nbsp;&nbsp;WesBanco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10770 | &nbsp;&nbsp;&nbsp;&nbsp; 324500 |
| &nbsp;&nbsp;&nbsp;West BanCorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1677 | &nbsp;&nbsp;&nbsp;&nbsp; 30169 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;Westamerica BanCorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2884 | &nbsp;&nbsp;$138144 |
| &nbsp;&nbsp;&nbsp;Western New England Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2090 | &nbsp;&nbsp;&nbsp;&nbsp; 22259 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;27521449 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| &nbsp;&nbsp;&nbsp;BRC, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5979 | &nbsp;&nbsp;&nbsp;&nbsp; 10164 |
| &nbsp;&nbsp;&nbsp;MGP Ingredients, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1652 | &nbsp;&nbsp;&nbsp;&nbsp; 46718 |
| &nbsp;&nbsp;&nbsp;National Beverage Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2728 | &nbsp;&nbsp;&nbsp;&nbsp; 124997 |
| &nbsp;&nbsp;&nbsp;Vita Coco Co., Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4591 | &nbsp;&nbsp;&nbsp;&nbsp; 161879 |
| &nbsp;&nbsp;&nbsp;Westrock Coffee Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4083 | &nbsp;&nbsp;&nbsp;&nbsp; 27152 |
| &nbsp;&nbsp;&nbsp;Zevia PBC, Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3588 | &nbsp;&nbsp;&nbsp;&nbsp; 11123 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382033 |
| **Biotechnology — 6.3%** | **Biotechnology — 6.3%** | **Biotechnology — 6.3%** |
| &nbsp;&nbsp;&nbsp;4D Molecular Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4421 | &nbsp;&nbsp;&nbsp;&nbsp; 19895 |
| &nbsp;&nbsp;&nbsp;89bio, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14190 | &nbsp;&nbsp;&nbsp;&nbsp; 134805 |
| &nbsp;&nbsp;&nbsp;Aardvark Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644 | &nbsp;&nbsp;&nbsp;&nbsp; 7734 |
| &nbsp;&nbsp;&nbsp;Abeona Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4966 | &nbsp;&nbsp;&nbsp;&nbsp; 31633 |
| &nbsp;&nbsp;&nbsp;Absci Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;12407 | &nbsp;&nbsp;&nbsp;&nbsp; 35112 |
| &nbsp;&nbsp;&nbsp;ACADIA Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14150 | &nbsp;&nbsp;&nbsp;&nbsp; 337195 |
| &nbsp;&nbsp;&nbsp;ADC Therapeutics SA† | &nbsp;&nbsp;&nbsp;&nbsp;10231 | &nbsp;&nbsp;&nbsp;&nbsp; 28340 |
| &nbsp;&nbsp;&nbsp;ADMA Biologics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;26358 | &nbsp;&nbsp;&nbsp;&nbsp; 492895 |
| &nbsp;&nbsp;&nbsp;Akero Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7947 | &nbsp;&nbsp;&nbsp;&nbsp; 388211 |
| &nbsp;&nbsp;&nbsp;Aldeyra Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6197 | &nbsp;&nbsp;&nbsp;&nbsp; 30923 |
| &nbsp;&nbsp;&nbsp;Allogene Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;17238 | &nbsp;&nbsp;&nbsp;&nbsp; 21203 |
| &nbsp;&nbsp;&nbsp;Alpha Teknova, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1233 | &nbsp;&nbsp;&nbsp;&nbsp; 5573 |
| &nbsp;&nbsp;&nbsp;Altimmune, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8799 | &nbsp;&nbsp;&nbsp;&nbsp; 32468 |
| &nbsp;&nbsp;&nbsp;Alumis Inc† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6539 | &nbsp;&nbsp;&nbsp;&nbsp; 27071 |
| &nbsp;&nbsp;&nbsp;Amicus Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;32949 | &nbsp;&nbsp;&nbsp;&nbsp; 197365 |
| &nbsp;&nbsp;&nbsp;AnaptysBio, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2325 | &nbsp;&nbsp;&nbsp;&nbsp; 57079 |
| &nbsp;&nbsp;&nbsp;Anavex Life Sciences Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9504 | &nbsp;&nbsp;&nbsp;&nbsp; 107395 |
| &nbsp;&nbsp;&nbsp;ANI Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2076 | &nbsp;&nbsp;&nbsp;&nbsp; 131515 |
| &nbsp;&nbsp;&nbsp;Annexon, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10137 | &nbsp;&nbsp;&nbsp;&nbsp; 24329 |
| &nbsp;&nbsp;&nbsp;Apogee Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3629 | &nbsp;&nbsp;&nbsp;&nbsp; 138846 |
| &nbsp;&nbsp;&nbsp;Arbutus Biopharma Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;17289 | &nbsp;&nbsp;&nbsp;&nbsp; 56708 |
| &nbsp;&nbsp;&nbsp;Arcellx, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4204 | &nbsp;&nbsp;&nbsp;&nbsp; 300124 |
| &nbsp;&nbsp;&nbsp;Arcturus Therapeutics Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2877 | &nbsp;&nbsp;&nbsp;&nbsp; 35128 |
| &nbsp;&nbsp;&nbsp;Arcus Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7837 | &nbsp;&nbsp;&nbsp;&nbsp; 71552 |
| &nbsp;&nbsp;&nbsp;Arcutis Biotherapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12427 | &nbsp;&nbsp;&nbsp;&nbsp; 181186 |
| &nbsp;&nbsp;&nbsp;Ardelyx, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;26752 | &nbsp;&nbsp;&nbsp;&nbsp; 113428 |
| &nbsp;&nbsp;&nbsp;ArriVent Biopharma, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3063 | &nbsp;&nbsp;&nbsp;&nbsp; 59759 |
| &nbsp;&nbsp;&nbsp;Arrowhead Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13838 | &nbsp;&nbsp;&nbsp;&nbsp; 218640 |
| &nbsp;&nbsp;&nbsp;ARS Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6234 | &nbsp;&nbsp;&nbsp;&nbsp; 110217 |
| &nbsp;&nbsp;&nbsp;Astria Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4579 | &nbsp;&nbsp;&nbsp;&nbsp; 31687 |
| &nbsp;&nbsp;&nbsp;Atea Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9239 | &nbsp;&nbsp;&nbsp;&nbsp; 33630 |
| &nbsp;&nbsp;&nbsp;Aura Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5697 | &nbsp;&nbsp;&nbsp;&nbsp; 39252 |
| &nbsp;&nbsp;&nbsp;Aurinia Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13391 | &nbsp;&nbsp;&nbsp;&nbsp; 123800 |
| &nbsp;&nbsp;&nbsp;Avidity Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13011 | &nbsp;&nbsp;&nbsp;&nbsp; 477634 |
| &nbsp;&nbsp;&nbsp;Axsome Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4601 | &nbsp;&nbsp;&nbsp;&nbsp; 466449 |
| &nbsp;&nbsp;&nbsp;Beam Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10870 | &nbsp;&nbsp;&nbsp;&nbsp; 214248 |
| &nbsp;&nbsp;&nbsp;Benitec Biopharma, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1645 | &nbsp;&nbsp;&nbsp;&nbsp; 17980 |
| &nbsp;&nbsp;&nbsp;Bicara Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3889 | &nbsp;&nbsp;&nbsp;&nbsp; 43207 |
| &nbsp;&nbsp;&nbsp;BioAge Labs, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2697 | &nbsp;&nbsp;&nbsp;&nbsp; 11867 |
| &nbsp;&nbsp;&nbsp;BioCryst Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;23922 | &nbsp;&nbsp;&nbsp;&nbsp; 194725 |
| &nbsp;&nbsp;&nbsp;Biohaven, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;10286 | &nbsp;&nbsp;&nbsp;&nbsp; 155319 |
| &nbsp;&nbsp;&nbsp;Bridgebio Pharma, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;17858 | &nbsp;&nbsp;&nbsp;&nbsp; 844148 |
| &nbsp;&nbsp;&nbsp;Bright Minds Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523 | &nbsp;&nbsp;&nbsp;&nbsp; 17662 |
| &nbsp;&nbsp;&nbsp;Candel Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4472 | &nbsp;&nbsp;&nbsp;&nbsp; 28822 |
| &nbsp;&nbsp;&nbsp;Capricor Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3962 | &nbsp;&nbsp;&nbsp;&nbsp; 32409 |
| &nbsp;&nbsp;&nbsp;Cardiff Oncology, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7079 | &nbsp;&nbsp;&nbsp;&nbsp; 16777 |
| &nbsp;&nbsp;&nbsp;Cargo Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4339 | &nbsp;&nbsp;&nbsp;&nbsp; 19395 |
| &nbsp;&nbsp;&nbsp;Cartesian Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1151 | &nbsp;&nbsp;&nbsp;&nbsp; 14744 |
| &nbsp;&nbsp;&nbsp;Cartesian Therapeutics, Inc. CVR†(1) | &nbsp;&nbsp;&nbsp;&nbsp;13211 | &nbsp;&nbsp;&nbsp;&nbsp; 3171 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Small Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Biotechnology (continued)** | **Biotechnology (continued)** | **Biotechnology (continued)** |
| &nbsp;&nbsp;&nbsp;Celcuity, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3699 | &nbsp;&nbsp;$144871 |
| &nbsp;&nbsp;&nbsp;Celldex Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7446 | &nbsp;&nbsp;&nbsp;&nbsp; 163663 |
| &nbsp;&nbsp;&nbsp;CG oncology, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6381 | &nbsp;&nbsp;&nbsp;&nbsp; 170309 |
| &nbsp;&nbsp;&nbsp;Chinook Therapeutics, Inc. CVR†(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6629 | &nbsp;&nbsp;&nbsp;&nbsp; 1061 |
| &nbsp;&nbsp;&nbsp;Cogent Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12069 | &nbsp;&nbsp;&nbsp;&nbsp; 137828 |
| &nbsp;&nbsp;&nbsp;Compass Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10640 | &nbsp;&nbsp;&nbsp;&nbsp; 31601 |
| &nbsp;&nbsp;&nbsp;Crinetics Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10299 | &nbsp;&nbsp;&nbsp;&nbsp; 294448 |
| &nbsp;&nbsp;&nbsp;CRISPR Therapeutics AG† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9411 | &nbsp;&nbsp;&nbsp;&nbsp; 529463 |
| &nbsp;&nbsp;&nbsp;Cullinan Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6211 | &nbsp;&nbsp;&nbsp;&nbsp; 48259 |
| &nbsp;&nbsp;&nbsp;Cytek Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13427 | &nbsp;&nbsp;&nbsp;&nbsp; 48337 |
| &nbsp;&nbsp;&nbsp;Cytokinetics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13281 | &nbsp;&nbsp;&nbsp;&nbsp; 499897 |
| &nbsp;&nbsp;&nbsp;Day One Biopharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8183 | &nbsp;&nbsp;&nbsp;&nbsp; 54908 |
| &nbsp;&nbsp;&nbsp;Denali Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;15057 | &nbsp;&nbsp;&nbsp;&nbsp; 208238 |
| &nbsp;&nbsp;&nbsp;Design Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3171 | &nbsp;&nbsp;&nbsp;&nbsp; 12272 |
| &nbsp;&nbsp;&nbsp;DiaMedica Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3003 | &nbsp;&nbsp;&nbsp;&nbsp; 12673 |
| &nbsp;&nbsp;&nbsp;Dianthus Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2799 | &nbsp;&nbsp;&nbsp;&nbsp; 57855 |
| &nbsp;&nbsp;&nbsp;Disc Medicine, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2801 | &nbsp;&nbsp;&nbsp;&nbsp; 167388 |
| &nbsp;&nbsp;&nbsp;Dynavax Technologies Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;11962 | &nbsp;&nbsp;&nbsp;&nbsp; 131343 |
| &nbsp;&nbsp;&nbsp;Dyne Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10670 | &nbsp;&nbsp;&nbsp;&nbsp; 105100 |
| &nbsp;&nbsp;&nbsp;Edgewise Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8602 | &nbsp;&nbsp;&nbsp;&nbsp; 122665 |
| &nbsp;&nbsp;&nbsp;Editas Medicine, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9638 | &nbsp;&nbsp;&nbsp;&nbsp; 24191 |
| &nbsp;&nbsp;&nbsp;Eledon Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6663 | &nbsp;&nbsp;&nbsp;&nbsp; 20988 |
| &nbsp;&nbsp;&nbsp;Emergent BioSolutions, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6136 | &nbsp;&nbsp;&nbsp;&nbsp; 36080 |
| &nbsp;&nbsp;&nbsp;Entrada Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3212 | &nbsp;&nbsp;&nbsp;&nbsp; 18887 |
| &nbsp;&nbsp;&nbsp;Erasca, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;22564 | &nbsp;&nbsp;&nbsp;&nbsp; 31928 |
| &nbsp;&nbsp;&nbsp;Esperion Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;22804 | &nbsp;&nbsp;&nbsp;&nbsp; 32382 |
| &nbsp;&nbsp;&nbsp;Evolus, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6322 | &nbsp;&nbsp;&nbsp;&nbsp; 56392 |
| &nbsp;&nbsp;&nbsp;EyePoint Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7738 | &nbsp;&nbsp;&nbsp;&nbsp; 75987 |
| &nbsp;&nbsp;&nbsp;Fate Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13065 | &nbsp;&nbsp;&nbsp;&nbsp; 14372 |
| &nbsp;&nbsp;&nbsp;Forafric Global PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622 | &nbsp;&nbsp;&nbsp;&nbsp; 4845 |
| &nbsp;&nbsp;&nbsp;Geron Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;66954 | &nbsp;&nbsp;&nbsp;&nbsp; 76997 |
| &nbsp;&nbsp;&nbsp;Gossamer Bio, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;21592 | &nbsp;&nbsp;&nbsp;&nbsp; 44048 |
| &nbsp;&nbsp;&nbsp;Greenwich Lifesciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp; 5798 |
| &nbsp;&nbsp;&nbsp;GTX, Inc.†(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp;&nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp;Humacyte, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14249 | &nbsp;&nbsp;&nbsp;&nbsp; 34198 |
| &nbsp;&nbsp;&nbsp;Icosavax, Inc. CVR†(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3120 | &nbsp;&nbsp;&nbsp;&nbsp; 967 |
| &nbsp;&nbsp;&nbsp;Ideaya Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9724 | &nbsp;&nbsp;&nbsp;&nbsp; 236779 |
| &nbsp;&nbsp;&nbsp;ImmunityBio, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;26152 | &nbsp;&nbsp;&nbsp;&nbsp; 64334 |
| &nbsp;&nbsp;&nbsp;Immunome, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8242 | &nbsp;&nbsp;&nbsp;&nbsp; 86706 |
| &nbsp;&nbsp;&nbsp;Immunovant, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7768 | &nbsp;&nbsp;&nbsp;&nbsp; 124909 |
| &nbsp;&nbsp;&nbsp;Inhibrx Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1312 | &nbsp;&nbsp;&nbsp;&nbsp; 28759 |
| &nbsp;&nbsp;&nbsp;Inhibrx. Inc. CVR†(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3965 | &nbsp;&nbsp;&nbsp;&nbsp; 4560 |
| &nbsp;&nbsp;&nbsp;Inmune Bio, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1412 | &nbsp;&nbsp;&nbsp;&nbsp; 3855 |
| &nbsp;&nbsp;&nbsp;Innoviva, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7158 | &nbsp;&nbsp;&nbsp;&nbsp; 130061 |
| &nbsp;&nbsp;&nbsp;Intellia Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;11673 | &nbsp;&nbsp;&nbsp;&nbsp; 135874 |
| &nbsp;&nbsp;&nbsp;Iovance Biotherapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;29888 | &nbsp;&nbsp;&nbsp;&nbsp; 76812 |
| &nbsp;&nbsp;&nbsp;iTeos Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3322 | &nbsp;&nbsp;&nbsp;&nbsp; 33685 |
| &nbsp;&nbsp;&nbsp;Jade Biosciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3688 | &nbsp;&nbsp;&nbsp;&nbsp; 26517 |
| &nbsp;&nbsp;&nbsp;Janux Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4476 | &nbsp;&nbsp;&nbsp;&nbsp; 107491 |
| &nbsp;&nbsp;&nbsp;Keros Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3861 | &nbsp;&nbsp;&nbsp;&nbsp; 55290 |
| &nbsp;&nbsp;&nbsp;Kodiak Sciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3118 | &nbsp;&nbsp;&nbsp;&nbsp; 20501 |
| &nbsp;&nbsp;&nbsp;Korro Bio, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526 | &nbsp;&nbsp;&nbsp;&nbsp; 7869 |
| &nbsp;&nbsp;&nbsp;Krystal Biotech, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2819 | &nbsp;&nbsp;&nbsp;&nbsp; 433760 |
| &nbsp;&nbsp;&nbsp;Kura Oncology, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8991 | &nbsp;&nbsp;&nbsp;&nbsp; 54396 |
| &nbsp;&nbsp;&nbsp;Kymera Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5338 | &nbsp;&nbsp;&nbsp;&nbsp; 233538 |
| &nbsp;&nbsp;&nbsp;Larimar Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5592 | &nbsp;&nbsp;&nbsp;&nbsp; 19348 |
| &nbsp;&nbsp;&nbsp;LENZ Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | &nbsp;&nbsp;&nbsp;&nbsp; 60225 |
| &nbsp;&nbsp;&nbsp;Lexeo Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2041 | &nbsp;&nbsp;&nbsp;&nbsp; 9654 |
| &nbsp;&nbsp;&nbsp;Ligand Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2192 | &nbsp;&nbsp;&nbsp;&nbsp; 288423 |
| &nbsp;&nbsp;&nbsp;Liquidia Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7334 | &nbsp;&nbsp;&nbsp;&nbsp; 137072 |
| &nbsp;&nbsp;&nbsp;Maravai LifeSciences Holdings, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;13877 | &nbsp;&nbsp;&nbsp;&nbsp; 32472 |
| &nbsp;&nbsp;&nbsp;MBX Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1939 | &nbsp;&nbsp;&nbsp;&nbsp; 25692 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Biotechnology (continued)** | **Biotechnology (continued)** | **Biotechnology (continued)** |
| &nbsp;&nbsp;&nbsp;MeiraGTx Holdings PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5042 | &nbsp;&nbsp;$38571 |
| &nbsp;&nbsp;&nbsp;Metsera, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2018 | &nbsp;&nbsp;&nbsp;&nbsp; 66574 |
| &nbsp;&nbsp;&nbsp;Mind Medicine MindMed, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8280 | &nbsp;&nbsp;&nbsp;&nbsp; 75265 |
| &nbsp;&nbsp;&nbsp;Mineralys Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4449 | &nbsp;&nbsp;&nbsp;&nbsp; 62953 |
| &nbsp;&nbsp;&nbsp;Monopar Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462 | &nbsp;&nbsp;&nbsp;&nbsp; 19025 |
| &nbsp;&nbsp;&nbsp;Monte Rosa Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5275 | &nbsp;&nbsp;&nbsp;&nbsp; 26111 |
| &nbsp;&nbsp;&nbsp;Myriad Genetics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9842 | &nbsp;&nbsp;&nbsp;&nbsp; 37793 |
| &nbsp;&nbsp;&nbsp;NeoGenomics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14528 | &nbsp;&nbsp;&nbsp;&nbsp; 70316 |
| &nbsp;&nbsp;&nbsp;Niagen Bioscience, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5963 | &nbsp;&nbsp;&nbsp;&nbsp; 55754 |
| &nbsp;&nbsp;&nbsp;Nkarta, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6755 | &nbsp;&nbsp;&nbsp;&nbsp; 14658 |
| &nbsp;&nbsp;&nbsp;Novavax, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;17913 | &nbsp;&nbsp;&nbsp;&nbsp; 119121 |
| &nbsp;&nbsp;&nbsp;Nurix Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8609 | &nbsp;&nbsp;&nbsp;&nbsp; 96937 |
| &nbsp;&nbsp;&nbsp;Nuvalent, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4886 | &nbsp;&nbsp;&nbsp;&nbsp; 382818 |
| &nbsp;&nbsp;&nbsp;Nuvation Bio, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;28374 | &nbsp;&nbsp;&nbsp;&nbsp; 66963 |
| &nbsp;&nbsp;&nbsp;Olema Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6770 | &nbsp;&nbsp;&nbsp;&nbsp; 34798 |
| &nbsp;&nbsp;&nbsp;Omeros Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5764 | &nbsp;&nbsp;&nbsp;&nbsp; 22307 |
| &nbsp;&nbsp;&nbsp;Organogenesis Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7420 | &nbsp;&nbsp;&nbsp;&nbsp; 34280 |
| &nbsp;&nbsp;&nbsp;Oruka Therapeutics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3092 | &nbsp;&nbsp;&nbsp;&nbsp; 42020 |
| &nbsp;&nbsp;&nbsp;Palvella Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp; 28532 |
| &nbsp;&nbsp;&nbsp;Perspective Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6789 | &nbsp;&nbsp;&nbsp;&nbsp; 26070 |
| &nbsp;&nbsp;&nbsp;Phathom Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp; 40992 |
| &nbsp;&nbsp;&nbsp;Praxis Precision Medicines, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2034 | &nbsp;&nbsp;&nbsp;&nbsp; 110283 |
| &nbsp;&nbsp;&nbsp;Precigen, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;17132 | &nbsp;&nbsp;&nbsp;&nbsp; 29296 |
| &nbsp;&nbsp;&nbsp;Prime Medicine, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6665 | &nbsp;&nbsp;&nbsp;&nbsp; 24927 |
| &nbsp;&nbsp;&nbsp;Protalix BioTherapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7927 | &nbsp;&nbsp;&nbsp;&nbsp; 11573 |
| &nbsp;&nbsp;&nbsp;Protara Therapeutic, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3672 | &nbsp;&nbsp;&nbsp;&nbsp; 11383 |
| &nbsp;&nbsp;&nbsp;Prothena Corp. PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4619 | &nbsp;&nbsp;&nbsp;&nbsp; 31733 |
| &nbsp;&nbsp;&nbsp;PTC Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8837 | &nbsp;&nbsp;&nbsp;&nbsp; 460496 |
| &nbsp;&nbsp;&nbsp;Puma Biotechnology, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4761 | &nbsp;&nbsp;&nbsp;&nbsp; 14807 |
| &nbsp;&nbsp;&nbsp;Rain Oncology, Inc. CVR†(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002 | &nbsp;&nbsp;&nbsp;&nbsp; 100 |
| &nbsp;&nbsp;&nbsp;Rapport Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1989 | &nbsp;&nbsp;&nbsp;&nbsp; 28562 |
| &nbsp;&nbsp;&nbsp;Recursion Pharmaceuticals, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;38605 | &nbsp;&nbsp;&nbsp;&nbsp; 229700 |
| &nbsp;&nbsp;&nbsp;REGENXBIO, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5058 | &nbsp;&nbsp;&nbsp;&nbsp; 43044 |
| &nbsp;&nbsp;&nbsp;Relay Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;15123 | &nbsp;&nbsp;&nbsp;&nbsp; 53233 |
| &nbsp;&nbsp;&nbsp;Replimune Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7946 | &nbsp;&nbsp;&nbsp;&nbsp; 55860 |
| &nbsp;&nbsp;&nbsp;Rezolute, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7610 | &nbsp;&nbsp;&nbsp;&nbsp; 45280 |
| &nbsp;&nbsp;&nbsp;Rigel Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1856 | &nbsp;&nbsp;&nbsp;&nbsp; 39087 |
| &nbsp;&nbsp;&nbsp;Rocket Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8548 | &nbsp;&nbsp;&nbsp;&nbsp; 26071 |
| &nbsp;&nbsp;&nbsp;Sana Biotechnology, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14539 | &nbsp;&nbsp;&nbsp;&nbsp; 59028 |
| &nbsp;&nbsp;&nbsp;Savara, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13834 | &nbsp;&nbsp;&nbsp;&nbsp; 35830 |
| &nbsp;&nbsp;&nbsp;Scholar Rock Holding Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9230 | &nbsp;&nbsp;&nbsp;&nbsp; 341972 |
| &nbsp;&nbsp;&nbsp;Septerna, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2261 | &nbsp;&nbsp;&nbsp;&nbsp; 28059 |
| &nbsp;&nbsp;&nbsp;Soleno Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4568 | &nbsp;&nbsp;&nbsp;&nbsp; 394995 |
| &nbsp;&nbsp;&nbsp;Solid Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7505 | &nbsp;&nbsp;&nbsp;&nbsp; 51334 |
| &nbsp;&nbsp;&nbsp;Stoke Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4680 | &nbsp;&nbsp;&nbsp;&nbsp; 60138 |
| &nbsp;&nbsp;&nbsp;Syndax Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9731 | &nbsp;&nbsp;&nbsp;&nbsp; 96532 |
| &nbsp;&nbsp;&nbsp;Tango Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8719 | &nbsp;&nbsp;&nbsp;&nbsp; 52663 |
| &nbsp;&nbsp;&nbsp;Tarsus Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4427 | &nbsp;&nbsp;&nbsp;&nbsp; 171856 |
| &nbsp;&nbsp;&nbsp;Taysha Gene Therapies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;20159 | &nbsp;&nbsp;&nbsp;&nbsp; 55034 |
| &nbsp;&nbsp;&nbsp;Tectonic Therapeutic, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1249 | &nbsp;&nbsp;&nbsp;&nbsp; 27715 |
| &nbsp;&nbsp;&nbsp;Terns Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8257 | &nbsp;&nbsp;&nbsp;&nbsp; 48138 |
| &nbsp;&nbsp;&nbsp;Tevogen Bio Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4067 | &nbsp;&nbsp;&nbsp;&nbsp; 4023 |
| &nbsp;&nbsp;&nbsp;TG Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;16590 | &nbsp;&nbsp;&nbsp;&nbsp; 588945 |
| &nbsp;&nbsp;&nbsp;Theravance Biopharma, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4324 | &nbsp;&nbsp;&nbsp;&nbsp; 48256 |
| &nbsp;&nbsp;&nbsp;Third Harmonic Bio, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2512 | &nbsp;&nbsp;&nbsp;&nbsp; 13489 |
| &nbsp;&nbsp;&nbsp;Tourmaline Bio, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2449 | &nbsp;&nbsp;&nbsp;&nbsp; 54196 |
| &nbsp;&nbsp;&nbsp;Travere Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10023 | &nbsp;&nbsp;&nbsp;&nbsp; 154855 |
| &nbsp;&nbsp;&nbsp;TriSalus Life Sciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1814 | &nbsp;&nbsp;&nbsp;&nbsp; 7673 |
| &nbsp;&nbsp;&nbsp;Tvardi Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388 | &nbsp;&nbsp;&nbsp;&nbsp; 10072 |
| &nbsp;&nbsp;&nbsp;Tyra Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2738 | &nbsp;&nbsp;&nbsp;&nbsp; 29926 |
| &nbsp;&nbsp;&nbsp;Upstream Bio, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3962 | &nbsp;&nbsp;&nbsp;&nbsp; 60658 |
| &nbsp;&nbsp;&nbsp;UroGen Pharma, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4377 | &nbsp;&nbsp;&nbsp;&nbsp; 83426 |
| &nbsp;&nbsp;&nbsp;Vera Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5851 | &nbsp;&nbsp;&nbsp;&nbsp; 121642 |

---

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Small Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Biotechnology (continued)** | **Biotechnology (continued)** | **Biotechnology (continued)** |
| &nbsp;&nbsp;&nbsp;Veracyte, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8952 | &nbsp;&nbsp;$210462 |
| &nbsp;&nbsp;&nbsp;Verastem, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5182 | &nbsp;&nbsp;&nbsp;&nbsp; 31973 |
| &nbsp;&nbsp;&nbsp;Vericel Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5729 | &nbsp;&nbsp;&nbsp;&nbsp; 200171 |
| &nbsp;&nbsp;&nbsp;Vir Biotechnology, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10017 | &nbsp;&nbsp;&nbsp;&nbsp; 50786 |
| &nbsp;&nbsp;&nbsp;Viridian Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8546 | &nbsp;&nbsp;&nbsp;&nbsp; 149726 |
| &nbsp;&nbsp;&nbsp;Wave Life Sciences, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;12743 | &nbsp;&nbsp;&nbsp;&nbsp; 103218 |
| &nbsp;&nbsp;&nbsp;Xencor, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8045 | &nbsp;&nbsp;&nbsp;&nbsp; 66934 |
| &nbsp;&nbsp;&nbsp;Xenon Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8639 | &nbsp;&nbsp;&nbsp;&nbsp; 263835 |
| &nbsp;&nbsp;&nbsp;XOMA Royalty Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1072 | &nbsp;&nbsp;&nbsp;&nbsp; 26671 |
| &nbsp;&nbsp;&nbsp;Zenas Biopharma, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1812 | &nbsp;&nbsp;&nbsp;&nbsp; 28467 |
| &nbsp;&nbsp;&nbsp;Zevra Therapeutics, Inc. † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6059 | &nbsp;&nbsp;&nbsp;&nbsp; 67316 |
| &nbsp;&nbsp;&nbsp;Zymeworks, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6463 | &nbsp;&nbsp;&nbsp;&nbsp; 81175 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;18500633 |
| **Building Materials — 1.6%** | **Building Materials — 1.6%** | **Building Materials — 1.6%** |
| &nbsp;&nbsp;&nbsp;AirJoule Technologies Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2443 | &nbsp;&nbsp;&nbsp;&nbsp; 10065 |
| &nbsp;&nbsp;&nbsp;American Woodmark Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1743 | &nbsp;&nbsp;&nbsp;&nbsp; 91699 |
| &nbsp;&nbsp;&nbsp;Apogee Enterprises, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2497 | &nbsp;&nbsp;&nbsp;&nbsp; 104849 |
| &nbsp;&nbsp;&nbsp;Aspen Aerogels, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7572 | &nbsp;&nbsp;&nbsp;&nbsp; 58002 |
| &nbsp;&nbsp;&nbsp;Boise Cascade Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4349 | &nbsp;&nbsp;&nbsp;&nbsp; 364490 |
| &nbsp;&nbsp;&nbsp;Gibraltar Industries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3437 | &nbsp;&nbsp;&nbsp;&nbsp; 226945 |
| &nbsp;&nbsp;&nbsp;Griffon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4455 | &nbsp;&nbsp;&nbsp;&nbsp; 362058 |
| &nbsp;&nbsp;&nbsp;JELD-WEN Holding, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9717 | &nbsp;&nbsp;&nbsp;&nbsp; 43727 |
| &nbsp;&nbsp;&nbsp;Knife River Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6506 | &nbsp;&nbsp;&nbsp;&nbsp; 536615 |
| &nbsp;&nbsp;&nbsp;LSI Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3241 | &nbsp;&nbsp;&nbsp;&nbsp; 59310 |
| &nbsp;&nbsp;&nbsp;Masterbrand, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14678 | &nbsp;&nbsp;&nbsp;&nbsp; 161898 |
| &nbsp;&nbsp;&nbsp;Modine Manufacturing Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5962 | &nbsp;&nbsp;&nbsp;&nbsp; 802247 |
| &nbsp;&nbsp;&nbsp;Northwest Pipe Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1096 | &nbsp;&nbsp;&nbsp;&nbsp; 45791 |
| &nbsp;&nbsp;&nbsp;Smith-Midland Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558 | &nbsp;&nbsp;&nbsp;&nbsp; 19402 |
| &nbsp;&nbsp;&nbsp;SPX Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5214 | &nbsp;&nbsp;&nbsp;&nbsp; 950981 |
| &nbsp;&nbsp;&nbsp;Tecnoglass, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2768 | &nbsp;&nbsp;&nbsp;&nbsp; 215987 |
| &nbsp;&nbsp;&nbsp;Titan America SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2764 | &nbsp;&nbsp;&nbsp;&nbsp; 39663 |
| &nbsp;&nbsp;&nbsp;UFP Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6902 | &nbsp;&nbsp;&nbsp;&nbsp; 676396 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4770125 |
| **Chemicals — 1.6%** | **Chemicals — 1.6%** | **Chemicals — 1.6%** |
| &nbsp;&nbsp;&nbsp;AdvanSix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2871 | &nbsp;&nbsp;&nbsp;&nbsp; 57765 |
| &nbsp;&nbsp;&nbsp;American Vanguard Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2546 | &nbsp;&nbsp;&nbsp;&nbsp; 9828 |
| &nbsp;&nbsp;&nbsp;Avient Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10457 | &nbsp;&nbsp;&nbsp;&nbsp; 330127 |
| &nbsp;&nbsp;&nbsp;Balchem Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3735 | &nbsp;&nbsp;&nbsp;&nbsp; 569475 |
| &nbsp;&nbsp;&nbsp;Cabot Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6170 | &nbsp;&nbsp;&nbsp;&nbsp; 445351 |
| &nbsp;&nbsp;&nbsp;Calumet, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7842 | &nbsp;&nbsp;&nbsp;&nbsp; 125001 |
| &nbsp;&nbsp;&nbsp;Chemours Co. | &nbsp;&nbsp;&nbsp;&nbsp;17132 | &nbsp;&nbsp;&nbsp;&nbsp; 205241 |
| &nbsp;&nbsp;&nbsp;Codexis, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8713 | &nbsp;&nbsp;&nbsp;&nbsp; 23351 |
| &nbsp;&nbsp;&nbsp;Ecovyst, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12994 | &nbsp;&nbsp;&nbsp;&nbsp; 111878 |
| &nbsp;&nbsp;&nbsp;H.B. Fuller Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6221 | &nbsp;&nbsp;&nbsp;&nbsp; 349620 |
| &nbsp;&nbsp;&nbsp;Hawkins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2221 | &nbsp;&nbsp;&nbsp;&nbsp; 362645 |
| &nbsp;&nbsp;&nbsp;Ingevity Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4138 | &nbsp;&nbsp;&nbsp;&nbsp; 172927 |
| &nbsp;&nbsp;&nbsp;Innospec, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2870 | &nbsp;&nbsp;&nbsp;&nbsp; 229313 |
| &nbsp;&nbsp;&nbsp;Intrepid Potash, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1245 | &nbsp;&nbsp;&nbsp;&nbsp; 41434 |
| &nbsp;&nbsp;&nbsp;Koppers Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2329 | &nbsp;&nbsp;&nbsp;&nbsp; 76531 |
| &nbsp;&nbsp;&nbsp;Kronos Worldwide, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2463 | &nbsp;&nbsp;&nbsp;&nbsp; 13177 |
| &nbsp;&nbsp;&nbsp;Mativ Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6520 | &nbsp;&nbsp;&nbsp;&nbsp; 43162 |
| &nbsp;&nbsp;&nbsp;Minerals Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3649 | &nbsp;&nbsp;&nbsp;&nbsp; 212189 |
| &nbsp;&nbsp;&nbsp;Oil-Dri Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1114 | &nbsp;&nbsp;&nbsp;&nbsp; 62830 |
| &nbsp;&nbsp;&nbsp;Orion SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6644 | &nbsp;&nbsp;&nbsp;&nbsp; 64447 |
| &nbsp;&nbsp;&nbsp;Perimeter Solutions, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;16008 | &nbsp;&nbsp;&nbsp;&nbsp; 258209 |
| &nbsp;&nbsp;&nbsp;Quaker Chemical Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1597 | &nbsp;&nbsp;&nbsp;&nbsp; 182729 |
| &nbsp;&nbsp;&nbsp;Rayonier Advanced Materials, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6947 | &nbsp;&nbsp;&nbsp;&nbsp; 26676 |
| &nbsp;&nbsp;&nbsp;Rogers Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2082 | &nbsp;&nbsp;&nbsp;&nbsp; 136538 |
| &nbsp;&nbsp;&nbsp;Sensient Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4809 | &nbsp;&nbsp;&nbsp;&nbsp; 540003 |
| &nbsp;&nbsp;&nbsp;Stepan Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2416 | &nbsp;&nbsp;&nbsp;&nbsp; 122660 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| &nbsp;&nbsp;&nbsp;Trinseo PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3871 | &nbsp;&nbsp;$10336 |
| &nbsp;&nbsp;&nbsp;Tronox Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;13351 | &nbsp;&nbsp;&nbsp;&nbsp; 42590 |
| &nbsp;&nbsp;&nbsp;Valhi, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273 | &nbsp;&nbsp;&nbsp;&nbsp; 4286 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4830319 |
| **Coal — 0.5%** | **Coal — 0.5%** | **Coal — 0.5%** |
| &nbsp;&nbsp;&nbsp;Alpha Metallurgical Resources, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1331 | &nbsp;&nbsp;&nbsp;&nbsp; 157151 |
| &nbsp;&nbsp;&nbsp;Core Natural Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6018 | &nbsp;&nbsp;&nbsp;&nbsp; 444189 |
| &nbsp;&nbsp;&nbsp;Hallador Energy Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3529 | &nbsp;&nbsp;&nbsp;&nbsp; 62251 |
| &nbsp;&nbsp;&nbsp;NACCO Industries, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461 | &nbsp;&nbsp;&nbsp;&nbsp; 17481 |
| &nbsp;&nbsp;&nbsp;Peabody Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13821 | &nbsp;&nbsp;&nbsp;&nbsp; 223209 |
| &nbsp;&nbsp;&nbsp;Ramaco Resources, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4045 | &nbsp;&nbsp;&nbsp;&nbsp; 82316 |
| &nbsp;&nbsp;&nbsp;SunCoke Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9697 | &nbsp;&nbsp;&nbsp;&nbsp; 71661 |
| &nbsp;&nbsp;&nbsp;Warrior Met Coal, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5989 | &nbsp;&nbsp;&nbsp;&nbsp; 307715 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1365973 |
| **Commercial Services — 4.5%** | **Commercial Services — 4.5%** | **Commercial Services — 4.5%** |
| &nbsp;&nbsp;&nbsp;ABM Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7030 | &nbsp;&nbsp;&nbsp;&nbsp; 324294 |
| &nbsp;&nbsp;&nbsp;Acacia Research Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4157 | &nbsp;&nbsp;&nbsp;&nbsp; 14716 |
| &nbsp;&nbsp;&nbsp;Acuren Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;11769 | &nbsp;&nbsp;&nbsp;&nbsp; 130518 |
| &nbsp;&nbsp;&nbsp;Adtalem Global Education, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4241 | &nbsp;&nbsp;&nbsp;&nbsp; 484619 |
| &nbsp;&nbsp;&nbsp;AirSculpt Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939 | &nbsp;&nbsp;&nbsp;&nbsp; 6207 |
| &nbsp;&nbsp;&nbsp;Alarm.com Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5440 | &nbsp;&nbsp;&nbsp;&nbsp; 297187 |
| &nbsp;&nbsp;&nbsp;Alight, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;49046 | &nbsp;&nbsp;&nbsp;&nbsp; 262887 |
| &nbsp;&nbsp;&nbsp;Alta Equipment Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3447 | &nbsp;&nbsp;&nbsp;&nbsp; 26749 |
| &nbsp;&nbsp;&nbsp;American Public Education, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1978 | &nbsp;&nbsp;&nbsp;&nbsp; 58391 |
| &nbsp;&nbsp;&nbsp;AMN Healthcare Services, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4357 | &nbsp;&nbsp;&nbsp;&nbsp; 79907 |
| &nbsp;&nbsp;&nbsp;Arlo Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;11195 | &nbsp;&nbsp;&nbsp;&nbsp; 181359 |
| &nbsp;&nbsp;&nbsp;Barrett Business Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2867 | &nbsp;&nbsp;&nbsp;&nbsp; 131796 |
| &nbsp;&nbsp;&nbsp;BrightView Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6710 | &nbsp;&nbsp;&nbsp;&nbsp; 107024 |
| &nbsp;&nbsp;&nbsp;Brink's Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4926 | &nbsp;&nbsp;&nbsp;&nbsp; 430237 |
| &nbsp;&nbsp;&nbsp;Cadiz, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6251 | &nbsp;&nbsp;&nbsp;&nbsp; 19878 |
| &nbsp;&nbsp;&nbsp;Carriage Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1558 | &nbsp;&nbsp;&nbsp;&nbsp; 69985 |
| &nbsp;&nbsp;&nbsp;Cass Information Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1532 | &nbsp;&nbsp;&nbsp;&nbsp; 61295 |
| &nbsp;&nbsp;&nbsp;CBIZ, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5961 | &nbsp;&nbsp;&nbsp;&nbsp; 364336 |
| &nbsp;&nbsp;&nbsp;Cimpress PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1941 | &nbsp;&nbsp;&nbsp;&nbsp; 107357 |
| &nbsp;&nbsp;&nbsp;CompoSecure, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4998 | &nbsp;&nbsp;&nbsp;&nbsp; 71022 |
| &nbsp;&nbsp;&nbsp;CoreCivic, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12388 | &nbsp;&nbsp;&nbsp;&nbsp; 248255 |
| &nbsp;&nbsp;&nbsp;Coursera, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;15610 | &nbsp;&nbsp;&nbsp;&nbsp; 197310 |
| &nbsp;&nbsp;&nbsp;CPI Card Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551 | &nbsp;&nbsp;&nbsp;&nbsp; 10695 |
| &nbsp;&nbsp;&nbsp;CRA International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756 | &nbsp;&nbsp;&nbsp;&nbsp; 133555 |
| &nbsp;&nbsp;&nbsp;Cross Country Healthcare, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3454 | &nbsp;&nbsp;&nbsp;&nbsp; 46456 |
| &nbsp;&nbsp;&nbsp;Custom Truck One Source, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6884 | &nbsp;&nbsp;&nbsp;&nbsp; 42612 |
| &nbsp;&nbsp;&nbsp;Deluxe Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4974 | &nbsp;&nbsp;&nbsp;&nbsp; 80081 |
| &nbsp;&nbsp;&nbsp;Distribution Solutions Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1188 | &nbsp;&nbsp;&nbsp;&nbsp; 35604 |
| &nbsp;&nbsp;&nbsp;Driven Brands Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6684 | &nbsp;&nbsp;&nbsp;&nbsp; 112960 |
| &nbsp;&nbsp;&nbsp;Emerald Holding, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2236 | &nbsp;&nbsp;&nbsp;&nbsp; 11113 |
| &nbsp;&nbsp;&nbsp;Ennis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2767 | &nbsp;&nbsp;&nbsp;&nbsp; 49253 |
| &nbsp;&nbsp;&nbsp;European Wax Center, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3090 | &nbsp;&nbsp;&nbsp;&nbsp; 14461 |
| &nbsp;&nbsp;&nbsp;EVERTEC, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7318 | &nbsp;&nbsp;&nbsp;&nbsp; 264546 |
| &nbsp;&nbsp;&nbsp;First Advantage Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9006 | &nbsp;&nbsp;&nbsp;&nbsp; 155714 |
| &nbsp;&nbsp;&nbsp;Flywire Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;13319 | &nbsp;&nbsp;&nbsp;&nbsp; 145044 |
| &nbsp;&nbsp;&nbsp;Forrester Research, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1501 | &nbsp;&nbsp;&nbsp;&nbsp; 14620 |
| &nbsp;&nbsp;&nbsp;Franklin Covey Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1360 | &nbsp;&nbsp;&nbsp;&nbsp; 26806 |
| &nbsp;&nbsp;&nbsp;GEO Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;15552 | &nbsp;&nbsp;&nbsp;&nbsp; 403108 |
| &nbsp;&nbsp;&nbsp;Graham Holdings Co., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367 | &nbsp;&nbsp;&nbsp;&nbsp; 350184 |
| &nbsp;&nbsp;&nbsp;Green Dot Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6077 | &nbsp;&nbsp;&nbsp;&nbsp; 61499 |
| &nbsp;&nbsp;&nbsp;Hackett Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2868 | &nbsp;&nbsp;&nbsp;&nbsp; 67083 |
| &nbsp;&nbsp;&nbsp;Healthcare Services Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8221 | &nbsp;&nbsp;&nbsp;&nbsp; 106955 |
| &nbsp;&nbsp;&nbsp;Heidrick & Struggles International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2278 | &nbsp;&nbsp;&nbsp;&nbsp; 101439 |
| &nbsp;&nbsp;&nbsp;Herc Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3717 | &nbsp;&nbsp;&nbsp;&nbsp; 434183 |
| &nbsp;&nbsp;&nbsp;Hertz Global Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13971 | &nbsp;&nbsp;&nbsp;&nbsp; 89554 |
| &nbsp;&nbsp;&nbsp;HireQuest, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807 | &nbsp;&nbsp;&nbsp;&nbsp; 8256 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Small Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| &nbsp;&nbsp;&nbsp;Huron Consulting Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1974 | &nbsp;&nbsp;$260726 |
| &nbsp;&nbsp;&nbsp;ICF International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2146 | &nbsp;&nbsp;&nbsp;&nbsp; 180028 |
| &nbsp;&nbsp;&nbsp;Information Services Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4031 | &nbsp;&nbsp;&nbsp;&nbsp; 17374 |
| &nbsp;&nbsp;&nbsp;Insperity, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4110 | &nbsp;&nbsp;&nbsp;&nbsp; 244874 |
| &nbsp;&nbsp;&nbsp;John Wiley & Sons, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4682 | &nbsp;&nbsp;&nbsp;&nbsp; 180725 |
| &nbsp;&nbsp;&nbsp;Kelly Services, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3543 | &nbsp;&nbsp;&nbsp;&nbsp; 43402 |
| &nbsp;&nbsp;&nbsp;Kforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2121 | &nbsp;&nbsp;&nbsp;&nbsp; 73917 |
| &nbsp;&nbsp;&nbsp;KinderCare Learning Cos., Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3601 | &nbsp;&nbsp;&nbsp;&nbsp; 34606 |
| &nbsp;&nbsp;&nbsp;Korn Ferry | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5906 | &nbsp;&nbsp;&nbsp;&nbsp; 418558 |
| &nbsp;&nbsp;&nbsp;Laureate Education, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14736 | &nbsp;&nbsp;&nbsp;&nbsp; 333034 |
| &nbsp;&nbsp;&nbsp;Legalzoom.com, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12600 | &nbsp;&nbsp;&nbsp;&nbsp; 113274 |
| &nbsp;&nbsp;&nbsp;Lifecore Biomedical, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3151 | &nbsp;&nbsp;&nbsp;&nbsp; 22057 |
| &nbsp;&nbsp;&nbsp;Lincoln Educational Services Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3369 | &nbsp;&nbsp;&nbsp;&nbsp; 77049 |
| &nbsp;&nbsp;&nbsp;MarketWise, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198 | &nbsp;&nbsp;&nbsp;&nbsp; 3643 |
| &nbsp;&nbsp;&nbsp;Marqeta, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;43742 | &nbsp;&nbsp;&nbsp;&nbsp; 249329 |
| &nbsp;&nbsp;&nbsp;Matthews International Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3409 | &nbsp;&nbsp;&nbsp;&nbsp; 80077 |
| &nbsp;&nbsp;&nbsp;Medifast, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1218 | &nbsp;&nbsp;&nbsp;&nbsp; 16772 |
| &nbsp;&nbsp;&nbsp;Mercurity Fintech Holding, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3637 | &nbsp;&nbsp;&nbsp;&nbsp; 14984 |
| &nbsp;&nbsp;&nbsp;Mister Car Wash, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;11421 | &nbsp;&nbsp;&nbsp;&nbsp; 65956 |
| &nbsp;&nbsp;&nbsp;Monro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3217 | &nbsp;&nbsp;&nbsp;&nbsp; 45344 |
| &nbsp;&nbsp;&nbsp;National Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1512 | &nbsp;&nbsp;&nbsp;&nbsp; 18900 |
| &nbsp;&nbsp;&nbsp;NPK International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9528 | &nbsp;&nbsp;&nbsp;&nbsp; 85943 |
| &nbsp;&nbsp;&nbsp;Payoneer Global, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;31815 | &nbsp;&nbsp;&nbsp;&nbsp; 209025 |
| &nbsp;&nbsp;&nbsp;Paysafe, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3644 | &nbsp;&nbsp;&nbsp;&nbsp; 44275 |
| &nbsp;&nbsp;&nbsp;Perdoceo Education Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7001 | &nbsp;&nbsp;&nbsp;&nbsp; 201489 |
| &nbsp;&nbsp;&nbsp;Performant Healthcare, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7539 | &nbsp;&nbsp;&nbsp;&nbsp; 26763 |
| &nbsp;&nbsp;&nbsp;Priority Technology Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2511 | &nbsp;&nbsp;&nbsp;&nbsp; 17200 |
| &nbsp;&nbsp;&nbsp;PROG Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4614 | &nbsp;&nbsp;&nbsp;&nbsp; 146910 |
| &nbsp;&nbsp;&nbsp;Progyny, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7810 | &nbsp;&nbsp;&nbsp;&nbsp; 183613 |
| &nbsp;&nbsp;&nbsp;Quad/Graphics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp; 18655 |
| &nbsp;&nbsp;&nbsp;RCM Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558 | &nbsp;&nbsp;&nbsp;&nbsp; 13453 |
| &nbsp;&nbsp;&nbsp;Remitly Global, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;17807 | &nbsp;&nbsp;&nbsp;&nbsp; 293815 |
| &nbsp;&nbsp;&nbsp;Repay Holdings Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9811 | &nbsp;&nbsp;&nbsp;&nbsp; 48270 |
| &nbsp;&nbsp;&nbsp;Resources Connection, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3557 | &nbsp;&nbsp;&nbsp;&nbsp; 17998 |
| &nbsp;&nbsp;&nbsp;Sezzle, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1679 | &nbsp;&nbsp;&nbsp;&nbsp; 259976 |
| &nbsp;&nbsp;&nbsp;SoundThinking, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;993 | &nbsp;&nbsp;&nbsp;&nbsp; 11330 |
| &nbsp;&nbsp;&nbsp;Spire Global, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3120 | &nbsp;&nbsp;&nbsp;&nbsp; 31294 |
| &nbsp;&nbsp;&nbsp;StoneCo., Ltd., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;27578 | &nbsp;&nbsp;&nbsp;&nbsp; 352447 |
| &nbsp;&nbsp;&nbsp;Strategic Education, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2739 | &nbsp;&nbsp;&nbsp;&nbsp; 203083 |
| &nbsp;&nbsp;&nbsp;Stride, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4883 | &nbsp;&nbsp;&nbsp;&nbsp; 626147 |
| &nbsp;&nbsp;&nbsp;Target Hospitality Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3580 | &nbsp;&nbsp;&nbsp;&nbsp; 27172 |
| &nbsp;&nbsp;&nbsp;Transcat, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1048 | &nbsp;&nbsp;&nbsp;&nbsp; 80099 |
| &nbsp;&nbsp;&nbsp;TriNet Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3592 | &nbsp;&nbsp;&nbsp;&nbsp; 243574 |
| &nbsp;&nbsp;&nbsp;TrueBlue, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3296 | &nbsp;&nbsp;&nbsp;&nbsp; 23797 |
| &nbsp;&nbsp;&nbsp;Udemy, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;11097 | &nbsp;&nbsp;&nbsp;&nbsp; 84448 |
| &nbsp;&nbsp;&nbsp;Universal Technical Institute, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5235 | &nbsp;&nbsp;&nbsp;&nbsp; 168672 |
| &nbsp;&nbsp;&nbsp;Upbound Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6070 | &nbsp;&nbsp;&nbsp;&nbsp; 125254 |
| &nbsp;&nbsp;&nbsp;Verra Mobility Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;18249 | &nbsp;&nbsp;&nbsp;&nbsp; 460970 |
| &nbsp;&nbsp;&nbsp;Vestis Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13119 | &nbsp;&nbsp;&nbsp;&nbsp; 79501 |
| &nbsp;&nbsp;&nbsp;Willdan Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1580 | &nbsp;&nbsp;&nbsp;&nbsp; 134774 |
| &nbsp;&nbsp;&nbsp;ZipRecruiter, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8005 | &nbsp;&nbsp;&nbsp;&nbsp; 33621 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;13189307 |
| **Computers — 2.1%** | **Computers — 2.1%** | **Computers — 2.1%** |
| &nbsp;&nbsp;&nbsp;3D Systems Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;13605 | &nbsp;&nbsp;&nbsp;&nbsp; 22176 |
| &nbsp;&nbsp;&nbsp;ASGN, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4885 | &nbsp;&nbsp;&nbsp;&nbsp; 244934 |
| &nbsp;&nbsp;&nbsp;Cantaloupe, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6560 | &nbsp;&nbsp;&nbsp;&nbsp; 72619 |
| &nbsp;&nbsp;&nbsp;Conduent, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;17611 | &nbsp;&nbsp;&nbsp;&nbsp; 46845 |
| &nbsp;&nbsp;&nbsp;Corsair Gaming, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5056 | &nbsp;&nbsp;&nbsp;&nbsp; 45807 |
| &nbsp;&nbsp;&nbsp;Cricut, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5280 | &nbsp;&nbsp;&nbsp;&nbsp; 25872 |
| &nbsp;&nbsp;&nbsp;CSP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789 | &nbsp;&nbsp;&nbsp;&nbsp; 8095 |
| &nbsp;&nbsp;&nbsp;Diebold Nixdorf, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2859 | &nbsp;&nbsp;&nbsp;&nbsp; 160933 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Computers (continued)** | **Computers (continued)** | **Computers (continued)** |
| &nbsp;&nbsp;&nbsp;D-Wave Quantum, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;32767 | &nbsp;&nbsp;$563265 |
| &nbsp;&nbsp;&nbsp;Grid Dynamics Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7504 | &nbsp;&nbsp;&nbsp;&nbsp; 71213 |
| &nbsp;&nbsp;&nbsp;Insight Enterprises, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3157 | &nbsp;&nbsp;&nbsp;&nbsp; 374357 |
| &nbsp;&nbsp;&nbsp;Integral Ad Science Holding Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8706 | &nbsp;&nbsp;&nbsp;&nbsp; 71389 |
| &nbsp;&nbsp;&nbsp;Maximus, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6459 | &nbsp;&nbsp;&nbsp;&nbsp; 477062 |
| &nbsp;&nbsp;&nbsp;Mitek Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4838 | &nbsp;&nbsp;&nbsp;&nbsp; 43639 |
| &nbsp;&nbsp;&nbsp;NCR Atleos Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8331 | &nbsp;&nbsp;&nbsp;&nbsp; 254929 |
| &nbsp;&nbsp;&nbsp;NCR Voyix Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;16459 | &nbsp;&nbsp;&nbsp;&nbsp; 224172 |
| &nbsp;&nbsp;&nbsp;NetScout Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7990 | &nbsp;&nbsp;&nbsp;&nbsp; 171146 |
| &nbsp;&nbsp;&nbsp;NextNav, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10011 | &nbsp;&nbsp;&nbsp;&nbsp; 148063 |
| &nbsp;&nbsp;&nbsp;OneSpan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4284 | &nbsp;&nbsp;&nbsp;&nbsp; 63189 |
| &nbsp;&nbsp;&nbsp;PAR Technology Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4602 | &nbsp;&nbsp;&nbsp;&nbsp; 279709 |
| &nbsp;&nbsp;&nbsp;Qualys, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4157 | &nbsp;&nbsp;&nbsp;&nbsp; 553172 |
| &nbsp;&nbsp;&nbsp;Rapid7, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7298 | &nbsp;&nbsp;&nbsp;&nbsp; 154134 |
| &nbsp;&nbsp;&nbsp;Rigetti Computing, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;32184 | &nbsp;&nbsp;&nbsp;&nbsp; 466668 |
| &nbsp;&nbsp;&nbsp;Rimini Street, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6002 | &nbsp;&nbsp;&nbsp;&nbsp; 28810 |
| &nbsp;&nbsp;&nbsp;Telos Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6794 | &nbsp;&nbsp;&nbsp;&nbsp; 17461 |
| &nbsp;&nbsp;&nbsp;Tenable Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13651 | &nbsp;&nbsp;&nbsp;&nbsp; 427413 |
| &nbsp;&nbsp;&nbsp;TTEC Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1848 | &nbsp;&nbsp;&nbsp;&nbsp; 9203 |
| &nbsp;&nbsp;&nbsp;Unisys Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7449 | &nbsp;&nbsp;&nbsp;&nbsp; 30764 |
| &nbsp;&nbsp;&nbsp;V2X, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1911 | &nbsp;&nbsp;&nbsp;&nbsp; 90543 |
| &nbsp;&nbsp;&nbsp;Varonis Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12615 | &nbsp;&nbsp;&nbsp;&nbsp; 704295 |
| &nbsp;&nbsp;&nbsp;Vuzix Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7302 | &nbsp;&nbsp;&nbsp;&nbsp; 14677 |
| &nbsp;&nbsp;&nbsp;WNS Holdings, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4604 | &nbsp;&nbsp;&nbsp;&nbsp; 344333 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6210887 |
| **Cosmetics/Personal Care — 0.3%** | **Cosmetics/Personal Care — 0.3%** | **Cosmetics/Personal Care — 0.3%** |
| &nbsp;&nbsp;&nbsp;Beauty Health Co.† | &nbsp;&nbsp;&nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;&nbsp; 20020 |
| &nbsp;&nbsp;&nbsp;Edgewell Personal Care Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5458 | &nbsp;&nbsp;&nbsp;&nbsp; 137705 |
| &nbsp;&nbsp;&nbsp;Honest Co., Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10617 | &nbsp;&nbsp;&nbsp;&nbsp; 48945 |
| &nbsp;&nbsp;&nbsp;Interparfums, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2109 | &nbsp;&nbsp;&nbsp;&nbsp; 254346 |
| &nbsp;&nbsp;&nbsp;Olaplex Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;16046 | &nbsp;&nbsp;&nbsp;&nbsp; 22304 |
| &nbsp;&nbsp;&nbsp;Prestige Consumer Healthcare, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5638 | &nbsp;&nbsp;&nbsp;&nbsp; 416930 |
| &nbsp;&nbsp;&nbsp;Solesence, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2138 | &nbsp;&nbsp;&nbsp;&nbsp; 7333 |
| &nbsp;&nbsp;&nbsp;Waldencast PLC, Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4836 | &nbsp;&nbsp;&nbsp;&nbsp; 8608 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;916191 |
| **Distribution/Wholesale — 0.8%** | **Distribution/Wholesale — 0.8%** | **Distribution/Wholesale — 0.8%** |
| &nbsp;&nbsp;&nbsp;A-Mark Precious Metals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2169 | &nbsp;&nbsp;&nbsp;&nbsp; 46156 |
| &nbsp;&nbsp;&nbsp;EVI Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp;&nbsp; 16495 |
| &nbsp;&nbsp;&nbsp;G-III Apparel Group, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4419 | &nbsp;&nbsp;&nbsp;&nbsp; 104288 |
| &nbsp;&nbsp;&nbsp;Global Industrial Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1540 | &nbsp;&nbsp;&nbsp;&nbsp; 52452 |
| &nbsp;&nbsp;&nbsp;Hudson Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5061 | &nbsp;&nbsp;&nbsp;&nbsp; 47523 |
| &nbsp;&nbsp;&nbsp;MRC Global, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9735 | &nbsp;&nbsp;&nbsp;&nbsp; 142910 |
| &nbsp;&nbsp;&nbsp;OPENLANE, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12110 | &nbsp;&nbsp;&nbsp;&nbsp; 298390 |
| &nbsp;&nbsp;&nbsp;Resideo Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;16895 | &nbsp;&nbsp;&nbsp;&nbsp; 461234 |
| &nbsp;&nbsp;&nbsp;Rush Enterprises, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7118 | &nbsp;&nbsp;&nbsp;&nbsp; 385369 |
| &nbsp;&nbsp;&nbsp;Rush Enterprises, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049 | &nbsp;&nbsp;&nbsp;&nbsp; 56971 |
| &nbsp;&nbsp;&nbsp;ScanSource, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2637 | &nbsp;&nbsp;&nbsp;&nbsp; 102421 |
| &nbsp;&nbsp;&nbsp;ThredUp, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;10345 | &nbsp;&nbsp;&nbsp;&nbsp; 85450 |
| &nbsp;&nbsp;&nbsp;Titan Machinery, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2389 | &nbsp;&nbsp;&nbsp;&nbsp; 46155 |
| &nbsp;&nbsp;&nbsp;VSE Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2333 | &nbsp;&nbsp;&nbsp;&nbsp; 365208 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2211022 |
| **Diversified Financial Services — 3.1%** | **Diversified Financial Services — 3.1%** | **Diversified Financial Services — 3.1%** |
| &nbsp;&nbsp;&nbsp;Acadian Asset Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3174 | &nbsp;&nbsp;&nbsp;&nbsp; 132641 |
| &nbsp;&nbsp;&nbsp;AlTi Global, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4369 | &nbsp;&nbsp;&nbsp;&nbsp; 17869 |
| &nbsp;&nbsp;&nbsp;Artisan Partners Asset Management, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7152 | &nbsp;&nbsp;&nbsp;&nbsp; 323628 |
| &nbsp;&nbsp;&nbsp;Atlanticus Holdings Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624 | &nbsp;&nbsp;&nbsp;&nbsp; 30969 |
| &nbsp;&nbsp;&nbsp;Bakkt Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583 | &nbsp;&nbsp;&nbsp;&nbsp; 5772 |
| &nbsp;&nbsp;&nbsp;Better Home & Finance Holding Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558 | &nbsp;&nbsp;&nbsp;&nbsp; 7221 |
| &nbsp;&nbsp;&nbsp;BGC Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;40760 | &nbsp;&nbsp;&nbsp;&nbsp; 377845 |
| &nbsp;&nbsp;&nbsp;Bread Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1741 | &nbsp;&nbsp;&nbsp;&nbsp; 106723 |
| &nbsp;&nbsp;&nbsp;Brookfield Business Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2994 | &nbsp;&nbsp;&nbsp;&nbsp; 92095 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Small Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| &nbsp;&nbsp;&nbsp;Burford Capital, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;22667 | &nbsp;&nbsp;$291271 |
| &nbsp;&nbsp;&nbsp;Cohen & Steers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3155 | &nbsp;&nbsp;&nbsp;&nbsp; 232082 |
| &nbsp;&nbsp;&nbsp;Columbia Financial, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3091 | &nbsp;&nbsp;&nbsp;&nbsp; 44480 |
| &nbsp;&nbsp;&nbsp;Consumer Portfolio Services, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1166 | &nbsp;&nbsp;&nbsp;&nbsp; 9211 |
| &nbsp;&nbsp;&nbsp;Dave, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1054 | &nbsp;&nbsp;&nbsp;&nbsp; 248533 |
| &nbsp;&nbsp;&nbsp;Diamond Hill Investment Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296 | &nbsp;&nbsp;&nbsp;&nbsp; 40129 |
| &nbsp;&nbsp;&nbsp;Enact Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3307 | &nbsp;&nbsp;&nbsp;&nbsp; 114951 |
| &nbsp;&nbsp;&nbsp;Encore Capital Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2734 | &nbsp;&nbsp;&nbsp;&nbsp; 100830 |
| &nbsp;&nbsp;&nbsp;Enova International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2853 | &nbsp;&nbsp;&nbsp;&nbsp; 298310 |
| &nbsp;&nbsp;&nbsp;Federal Agricultural Mtg. Corp., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1066 | &nbsp;&nbsp;&nbsp;&nbsp; 183640 |
| &nbsp;&nbsp;&nbsp;Finance Of America Cos, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505 | &nbsp;&nbsp;&nbsp;&nbsp; 10873 |
| &nbsp;&nbsp;&nbsp;First Western Financial, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;917 | &nbsp;&nbsp;&nbsp;&nbsp; 19848 |
| &nbsp;&nbsp;&nbsp;Forge Global Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1165 | &nbsp;&nbsp;&nbsp;&nbsp; 25537 |
| &nbsp;&nbsp;&nbsp;GBank Financial Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023 | &nbsp;&nbsp;&nbsp;&nbsp; 38398 |
| &nbsp;&nbsp;&nbsp;GCM Grosvenor, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4893 | &nbsp;&nbsp;&nbsp;&nbsp; 57688 |
| &nbsp;&nbsp;&nbsp;International Money Express, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3405 | &nbsp;&nbsp;&nbsp;&nbsp; 30611 |
| &nbsp;&nbsp;&nbsp;LendingClub Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;12936 | &nbsp;&nbsp;&nbsp;&nbsp; 201672 |
| &nbsp;&nbsp;&nbsp;LendingTree, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1276 | &nbsp;&nbsp;&nbsp;&nbsp; 59564 |
| &nbsp;&nbsp;&nbsp;loanDepot, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9283 | &nbsp;&nbsp;&nbsp;&nbsp; 14760 |
| &nbsp;&nbsp;&nbsp;Marex Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3620 | &nbsp;&nbsp;&nbsp;&nbsp; 139660 |
| &nbsp;&nbsp;&nbsp;Medallion Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2092 | &nbsp;&nbsp;&nbsp;&nbsp; 21359 |
| &nbsp;&nbsp;&nbsp;Moelis & Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5291 | &nbsp;&nbsp;&nbsp;&nbsp; 371111 |
| &nbsp;&nbsp;&nbsp;Navient Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8413 | &nbsp;&nbsp;&nbsp;&nbsp; 108864 |
| &nbsp;&nbsp;&nbsp;Nelnet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1608 | &nbsp;&nbsp;&nbsp;&nbsp; 200630 |
| &nbsp;&nbsp;&nbsp;NerdWallet, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4704 | &nbsp;&nbsp;&nbsp;&nbsp; 49815 |
| &nbsp;&nbsp;&nbsp;Onity Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;729 | &nbsp;&nbsp;&nbsp;&nbsp; 27498 |
| &nbsp;&nbsp;&nbsp;Oportun Financial Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3806 | &nbsp;&nbsp;&nbsp;&nbsp; 23331 |
| &nbsp;&nbsp;&nbsp;OppFi, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2758 | &nbsp;&nbsp;&nbsp;&nbsp; 29345 |
| &nbsp;&nbsp;&nbsp;Pagseguro Digital, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;20843 | &nbsp;&nbsp;&nbsp;&nbsp; 163201 |
| &nbsp;&nbsp;&nbsp;Paysign, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3765 | &nbsp;&nbsp;&nbsp;&nbsp; 28012 |
| &nbsp;&nbsp;&nbsp;PennyMac Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3326 | &nbsp;&nbsp;&nbsp;&nbsp; 309784 |
| &nbsp;&nbsp;&nbsp;Perella Weinberg Partners | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6931 | &nbsp;&nbsp;&nbsp;&nbsp; 138204 |
| &nbsp;&nbsp;&nbsp;Piper Sandler Cos. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1990 | &nbsp;&nbsp;&nbsp;&nbsp; 627487 |
| &nbsp;&nbsp;&nbsp;PJT Partners, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2636 | &nbsp;&nbsp;&nbsp;&nbsp; 470842 |
| &nbsp;&nbsp;&nbsp;PRA Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4384 | &nbsp;&nbsp;&nbsp;&nbsp; 66637 |
| &nbsp;&nbsp;&nbsp;Radian Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16086 | &nbsp;&nbsp;&nbsp;&nbsp; 524564 |
| &nbsp;&nbsp;&nbsp;Regional Management Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1059 | &nbsp;&nbsp;&nbsp;&nbsp; 35201 |
| &nbsp;&nbsp;&nbsp;Resolute Holdings Management, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483 | &nbsp;&nbsp;&nbsp;&nbsp; 19576 |
| &nbsp;&nbsp;&nbsp;Security National Financial Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1757 | &nbsp;&nbsp;&nbsp;&nbsp; 14899 |
| &nbsp;&nbsp;&nbsp;Siebert Financial Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1608 | &nbsp;&nbsp;&nbsp;&nbsp; 6545 |
| &nbsp;&nbsp;&nbsp;Silvercrest Asset Management Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1076 | &nbsp;&nbsp;&nbsp;&nbsp; 17603 |
| &nbsp;&nbsp;&nbsp;StepStone Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7134 | &nbsp;&nbsp;&nbsp;&nbsp; 423474 |
| &nbsp;&nbsp;&nbsp;StoneX Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5141 | &nbsp;&nbsp;&nbsp;&nbsp; 499911 |
| &nbsp;&nbsp;&nbsp;SWK Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209 | &nbsp;&nbsp;&nbsp;&nbsp; 3112 |
| &nbsp;&nbsp;&nbsp;Upstart Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9619 | &nbsp;&nbsp;&nbsp;&nbsp; 786257 |
| &nbsp;&nbsp;&nbsp;Velocity Financial, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1155 | &nbsp;&nbsp;&nbsp;&nbsp; 19173 |
| &nbsp;&nbsp;&nbsp;Victory Capital Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5035 | &nbsp;&nbsp;&nbsp;&nbsp; 346962 |
| &nbsp;&nbsp;&nbsp;Virtus Investment Partners, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;753 | &nbsp;&nbsp;&nbsp;&nbsp; 145562 |
| &nbsp;&nbsp;&nbsp;Vroom, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122 | &nbsp;&nbsp;&nbsp;&nbsp; 3065 |
| &nbsp;&nbsp;&nbsp;Westwood Holdings Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847 | &nbsp;&nbsp;&nbsp;&nbsp; 14806 |
| &nbsp;&nbsp;&nbsp;WisdomTree, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13685 | &nbsp;&nbsp;&nbsp;&nbsp; 181600 |
| &nbsp;&nbsp;&nbsp;World Acceptance Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383 | &nbsp;&nbsp;&nbsp;&nbsp; 60254 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8995495 |
| **Electric — 1.8%** | **Electric — 1.8%** | **Electric — 1.8%** |
| &nbsp;&nbsp;&nbsp;ALLETE, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6656 | &nbsp;&nbsp;&nbsp;&nbsp; 438830 |
| &nbsp;&nbsp;&nbsp;Ameresco, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3645 | &nbsp;&nbsp;&nbsp;&nbsp; 61674 |
| &nbsp;&nbsp;&nbsp;Avista Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9160 | &nbsp;&nbsp;&nbsp;&nbsp; 341668 |
| &nbsp;&nbsp;&nbsp;Black Hills Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8271 | &nbsp;&nbsp;&nbsp;&nbsp; 477899 |
| &nbsp;&nbsp;&nbsp;Genie Energy, Ltd., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2418 | &nbsp;&nbsp;&nbsp;&nbsp; 49134 |
| &nbsp;&nbsp;&nbsp;Hawaiian Electric Industries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;19664 | &nbsp;&nbsp;&nbsp;&nbsp; 210798 |
| &nbsp;&nbsp;&nbsp;MGE Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4199 | &nbsp;&nbsp;&nbsp;&nbsp; 356663 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp;&nbsp;Northwestern Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7050 | &nbsp;&nbsp;$378585 |
| &nbsp;&nbsp;&nbsp;Oklo, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;11731 | &nbsp;&nbsp;&nbsp;&nbsp; 898477 |
| &nbsp;&nbsp;&nbsp;Ormat Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6981 | &nbsp;&nbsp;&nbsp;&nbsp; 624171 |
| &nbsp;&nbsp;&nbsp;Otter Tail Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4384 | &nbsp;&nbsp;&nbsp;&nbsp; 338357 |
| &nbsp;&nbsp;&nbsp;Portland General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;12543 | &nbsp;&nbsp;&nbsp;&nbsp; 515768 |
| &nbsp;&nbsp;&nbsp;TXNM Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10546 | &nbsp;&nbsp;&nbsp;&nbsp; 598907 |
| &nbsp;&nbsp;&nbsp;Unitil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1833 | &nbsp;&nbsp;&nbsp;&nbsp; 94546 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5385477 |
| **Electrical Components & Equipment — 0.8%** | **Electrical Components & Equipment — 0.8%** | **Electrical Components & Equipment — 0.8%** |
| &nbsp;&nbsp;&nbsp;American Superconductor Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4343 | &nbsp;&nbsp;&nbsp;&nbsp; 246899 |
| &nbsp;&nbsp;&nbsp;Belden, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4586 | &nbsp;&nbsp;&nbsp;&nbsp; 567059 |
| &nbsp;&nbsp;&nbsp;Energizer Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8081 | &nbsp;&nbsp;&nbsp;&nbsp; 181984 |
| &nbsp;&nbsp;&nbsp;EnerSys | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4494 | &nbsp;&nbsp;&nbsp;&nbsp; 415111 |
| &nbsp;&nbsp;&nbsp;Graham Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1167 | &nbsp;&nbsp;&nbsp;&nbsp; 66694 |
| &nbsp;&nbsp;&nbsp;Insteel Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2135 | &nbsp;&nbsp;&nbsp;&nbsp; 77073 |
| &nbsp;&nbsp;&nbsp;nLight, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5469 | &nbsp;&nbsp;&nbsp;&nbsp; 114904 |
| &nbsp;&nbsp;&nbsp;Novanta, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4106 | &nbsp;&nbsp;&nbsp;&nbsp; 505120 |
| &nbsp;&nbsp;&nbsp;Powell Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1086 | &nbsp;&nbsp;&nbsp;&nbsp; 257491 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2432335 |
| **Electronics — 2.9%** | **Electronics — 2.9%** | **Electronics — 2.9%** |
| &nbsp;&nbsp;&nbsp;Advanced Energy Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4289 | &nbsp;&nbsp;&nbsp;&nbsp; 595828 |
| &nbsp;&nbsp;&nbsp;Allient, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1647 | &nbsp;&nbsp;&nbsp;&nbsp; 66391 |
| &nbsp;&nbsp;&nbsp;Applied Optoelectronics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6111 | &nbsp;&nbsp;&nbsp;&nbsp; 139759 |
| &nbsp;&nbsp;&nbsp;Atkore, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3924 | &nbsp;&nbsp;&nbsp;&nbsp; 302226 |
| &nbsp;&nbsp;&nbsp;Atmus Filtration Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9521 | &nbsp;&nbsp;&nbsp;&nbsp; 370462 |
| &nbsp;&nbsp;&nbsp;Badger Meter, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3390 | &nbsp;&nbsp;&nbsp;&nbsp; 639896 |
| &nbsp;&nbsp;&nbsp;Bel Fuse, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183 | &nbsp;&nbsp;&nbsp;&nbsp; 20959 |
| &nbsp;&nbsp;&nbsp;Bel Fuse, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1194 | &nbsp;&nbsp;&nbsp;&nbsp; 155268 |
| &nbsp;&nbsp;&nbsp;Benchmark Electronics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4038 | &nbsp;&nbsp;&nbsp;&nbsp; 155463 |
| &nbsp;&nbsp;&nbsp;CTS Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3364 | &nbsp;&nbsp;&nbsp;&nbsp; 131835 |
| &nbsp;&nbsp;&nbsp;Enovix Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;18756 | &nbsp;&nbsp;&nbsp;&nbsp; 251330 |
| &nbsp;&nbsp;&nbsp;ESCO Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2958 | &nbsp;&nbsp;&nbsp;&nbsp; 572965 |
| &nbsp;&nbsp;&nbsp;Evolv Technologies Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14755 | &nbsp;&nbsp;&nbsp;&nbsp; 96719 |
| &nbsp;&nbsp;&nbsp;Itron, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5191 | &nbsp;&nbsp;&nbsp;&nbsp; 646487 |
| &nbsp;&nbsp;&nbsp;Kimball Electronics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2772 | &nbsp;&nbsp;&nbsp;&nbsp; 52003 |
| &nbsp;&nbsp;&nbsp;Knowles Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9840 | &nbsp;&nbsp;&nbsp;&nbsp; 199850 |
| &nbsp;&nbsp;&nbsp;Kopin Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;16998 | &nbsp;&nbsp;&nbsp;&nbsp; 30426 |
| &nbsp;&nbsp;&nbsp;KULR Technology Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3749 | &nbsp;&nbsp;&nbsp;&nbsp; 20582 |
| &nbsp;&nbsp;&nbsp;Mesa Laboratories, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583 | &nbsp;&nbsp;&nbsp;&nbsp; 44588 |
| &nbsp;&nbsp;&nbsp;MicroVision, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;27891 | &nbsp;&nbsp;&nbsp;&nbsp; 30959 |
| &nbsp;&nbsp;&nbsp;Mirion Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;23891 | &nbsp;&nbsp;&nbsp;&nbsp; 533964 |
| &nbsp;&nbsp;&nbsp;M-Tron Industries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279 | &nbsp;&nbsp;&nbsp;&nbsp; 12270 |
| &nbsp;&nbsp;&nbsp;Napco Security Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4027 | &nbsp;&nbsp;&nbsp;&nbsp; 122944 |
| &nbsp;&nbsp;&nbsp;Neonode, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1194 | &nbsp;&nbsp;&nbsp;&nbsp; 24083 |
| &nbsp;&nbsp;&nbsp;NEXTracker, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;16208 | &nbsp;&nbsp;&nbsp;&nbsp; 944278 |
| &nbsp;&nbsp;&nbsp;NVE Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;541 | &nbsp;&nbsp;&nbsp;&nbsp; 34262 |
| &nbsp;&nbsp;&nbsp;OSI Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1824 | &nbsp;&nbsp;&nbsp;&nbsp; 403122 |
| &nbsp;&nbsp;&nbsp;Plexus Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3071 | &nbsp;&nbsp;&nbsp;&nbsp; 391553 |
| &nbsp;&nbsp;&nbsp;Sanmina Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6077 | &nbsp;&nbsp;&nbsp;&nbsp; 705175 |
| &nbsp;&nbsp;&nbsp;SKYX Platforms Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6961 | &nbsp;&nbsp;&nbsp;&nbsp; 6961 |
| &nbsp;&nbsp;&nbsp;Standard BioTools, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;31833 | &nbsp;&nbsp;&nbsp;&nbsp; 42338 |
| &nbsp;&nbsp;&nbsp;TTM Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;11497 | &nbsp;&nbsp;&nbsp;&nbsp; 543233 |
| &nbsp;&nbsp;&nbsp;Turtle Beach Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2044 | &nbsp;&nbsp;&nbsp;&nbsp; 29720 |
| &nbsp;&nbsp;&nbsp;Vicor Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2668 | &nbsp;&nbsp;&nbsp;&nbsp; 118566 |
| &nbsp;&nbsp;&nbsp;Vishay Intertechnology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14094 | &nbsp;&nbsp;&nbsp;&nbsp; 231001 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8667466 |
| **Energy-Alternate Sources — 0.4%** | **Energy-Alternate Sources — 0.4%** | **Energy-Alternate Sources — 0.4%** |
| &nbsp;&nbsp;&nbsp;Array Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;17126 | &nbsp;&nbsp;&nbsp;&nbsp; 111319 |
| &nbsp;&nbsp;&nbsp;ASP Isotopes, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6490 | &nbsp;&nbsp;&nbsp;&nbsp; 58864 |
| &nbsp;&nbsp;&nbsp;Complete Solaria, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6855 | &nbsp;&nbsp;&nbsp;&nbsp; 10762 |
| &nbsp;&nbsp;&nbsp;Eos Energy Enterprises, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;25302 | &nbsp;&nbsp;&nbsp;&nbsp; 144222 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Small Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Energy-Alternate Sources (continued)** | **Energy-Alternate Sources (continued)** | **Energy-Alternate Sources (continued)** |
| &nbsp;&nbsp;&nbsp;Fluence Energy, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8634 | &nbsp;&nbsp;$70108 |
| &nbsp;&nbsp;&nbsp;FutureFuel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2580 | &nbsp;&nbsp;&nbsp;&nbsp; 10449 |
| &nbsp;&nbsp;&nbsp;Gevo, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;26310 | &nbsp;&nbsp;&nbsp;&nbsp; 34203 |
| &nbsp;&nbsp;&nbsp;Green Plains, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7192 | &nbsp;&nbsp;&nbsp;&nbsp; 59478 |
| &nbsp;&nbsp;&nbsp;Montauk Renewables, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8849 | &nbsp;&nbsp;&nbsp;&nbsp; 19202 |
| &nbsp;&nbsp;&nbsp;OPAL Fuels, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2403 | &nbsp;&nbsp;&nbsp;&nbsp; 5695 |
| &nbsp;&nbsp;&nbsp;Plug Power, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;103946 | &nbsp;&nbsp;&nbsp;&nbsp; 155919 |
| &nbsp;&nbsp;&nbsp;REX American Resources Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1648 | &nbsp;&nbsp;&nbsp;&nbsp; 86158 |
| &nbsp;&nbsp;&nbsp;Shoals Technologies Group, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;19206 | &nbsp;&nbsp;&nbsp;&nbsp; 103520 |
| &nbsp;&nbsp;&nbsp;Sunrun, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;25056 | &nbsp;&nbsp;&nbsp;&nbsp; 257075 |
| &nbsp;&nbsp;&nbsp;T1 Energy, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12791 | &nbsp;&nbsp;&nbsp;&nbsp; 15221 |
| &nbsp;&nbsp;&nbsp;Verde Clean Fuels, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp; 44 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1142239 |
| **Engineering & Construction — 2.5%** | **Engineering & Construction — 2.5%** | **Engineering & Construction — 2.5%** |
| &nbsp;&nbsp;&nbsp;908 Devices, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3049 | &nbsp;&nbsp;&nbsp;&nbsp; 19971 |
| &nbsp;&nbsp;&nbsp;Arcosa, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5524 | &nbsp;&nbsp;&nbsp;&nbsp; 474401 |
| &nbsp;&nbsp;&nbsp;Bowman Consulting Group, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1605 | &nbsp;&nbsp;&nbsp;&nbsp; 55661 |
| &nbsp;&nbsp;&nbsp;Centuri Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1801 | &nbsp;&nbsp;&nbsp;&nbsp; 39262 |
| &nbsp;&nbsp;&nbsp;Concrete Pumping Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2649 | &nbsp;&nbsp;&nbsp;&nbsp; 18093 |
| &nbsp;&nbsp;&nbsp;Construction Partners, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5338 | &nbsp;&nbsp;&nbsp;&nbsp; 538337 |
| &nbsp;&nbsp;&nbsp;Dycom Industries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3203 | &nbsp;&nbsp;&nbsp;&nbsp; 860998 |
| &nbsp;&nbsp;&nbsp;Energy Services of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1344 | &nbsp;&nbsp;&nbsp;&nbsp; 14690 |
| &nbsp;&nbsp;&nbsp;Exponent, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5782 | &nbsp;&nbsp;&nbsp;&nbsp; 398727 |
| &nbsp;&nbsp;&nbsp;Fluor Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;19126 | &nbsp;&nbsp;&nbsp;&nbsp; 1085783 |
| &nbsp;&nbsp;&nbsp;Frontdoor, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8494 | &nbsp;&nbsp;&nbsp;&nbsp; 496899 |
| &nbsp;&nbsp;&nbsp;Granite Construction, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5002 | &nbsp;&nbsp;&nbsp;&nbsp; 472539 |
| &nbsp;&nbsp;&nbsp;Great Lakes Dredge & Dock Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7347 | &nbsp;&nbsp;&nbsp;&nbsp; 81405 |
| &nbsp;&nbsp;&nbsp;IES Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1028 | &nbsp;&nbsp;&nbsp;&nbsp; 362956 |
| &nbsp;&nbsp;&nbsp;Latham Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4860 | &nbsp;&nbsp;&nbsp;&nbsp; 32951 |
| &nbsp;&nbsp;&nbsp;Limbach Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1206 | &nbsp;&nbsp;&nbsp;&nbsp; 165222 |
| &nbsp;&nbsp;&nbsp;Mistras Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2373 | &nbsp;&nbsp;&nbsp;&nbsp; 18842 |
| &nbsp;&nbsp;&nbsp;MYR Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1799 | &nbsp;&nbsp;&nbsp;&nbsp; 348106 |
| &nbsp;&nbsp;&nbsp;NV5 Global, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6607 | &nbsp;&nbsp;&nbsp;&nbsp; 148327 |
| &nbsp;&nbsp;&nbsp;Orion Group Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4366 | &nbsp;&nbsp;&nbsp;&nbsp; 32352 |
| &nbsp;&nbsp;&nbsp;Primoris Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6156 | &nbsp;&nbsp;&nbsp;&nbsp; 579710 |
| &nbsp;&nbsp;&nbsp;Southland Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523 | &nbsp;&nbsp;&nbsp;&nbsp; 2249 |
| &nbsp;&nbsp;&nbsp;Sterling Infrastructure, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3409 | &nbsp;&nbsp;&nbsp;&nbsp; 912214 |
| &nbsp;&nbsp;&nbsp;TSS, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2075 | &nbsp;&nbsp;&nbsp;&nbsp; 56440 |
| &nbsp;&nbsp;&nbsp;Tutor Perini Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5124 | &nbsp;&nbsp;&nbsp;&nbsp; 246721 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7462856 |
| **Entertainment — 1.1%** | **Entertainment — 1.1%** | **Entertainment — 1.1%** |
| &nbsp;&nbsp;&nbsp;Accel Entertainment, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6068 | &nbsp;&nbsp;&nbsp;&nbsp; 78034 |
| &nbsp;&nbsp;&nbsp;AMC Entertainment Holdings, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;49493 | &nbsp;&nbsp;&nbsp;&nbsp; 143530 |
| &nbsp;&nbsp;&nbsp;Atlanta Braves Holdings, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768 | &nbsp;&nbsp;&nbsp;&nbsp; 36173 |
| &nbsp;&nbsp;&nbsp;Atlanta Braves Holdings, Inc., Class C† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5250 | &nbsp;&nbsp;&nbsp;&nbsp; 233940 |
| &nbsp;&nbsp;&nbsp;Bally's Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;834 | &nbsp;&nbsp;&nbsp;&nbsp; 7740 |
| &nbsp;&nbsp;&nbsp;Brightstar Lottery PLC | &nbsp;&nbsp;&nbsp;&nbsp;12870 | &nbsp;&nbsp;&nbsp;&nbsp; 190991 |
| &nbsp;&nbsp;&nbsp;Cinemark Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12171 | &nbsp;&nbsp;&nbsp;&nbsp; 327035 |
| &nbsp;&nbsp;&nbsp;Golden Entertainment, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2164 | &nbsp;&nbsp;&nbsp;&nbsp; 60852 |
| &nbsp;&nbsp;&nbsp;IMAX Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4931 | &nbsp;&nbsp;&nbsp;&nbsp; 127170 |
| &nbsp;&nbsp;&nbsp;Lionsgate Studios Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;22134 | &nbsp;&nbsp;&nbsp;&nbsp; 131033 |
| &nbsp;&nbsp;&nbsp;Madison Square Garden Entertainment Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4531 | &nbsp;&nbsp;&nbsp;&nbsp; 171226 |
| &nbsp;&nbsp;&nbsp;Marriott Vacations Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3675 | &nbsp;&nbsp;&nbsp;&nbsp; 273677 |
| &nbsp;&nbsp;&nbsp;Monarch Casino & Resort, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1467 | &nbsp;&nbsp;&nbsp;&nbsp; 151042 |
| &nbsp;&nbsp;&nbsp;Pursuit Attractions & Hospitality, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2425 | &nbsp;&nbsp;&nbsp;&nbsp; 73332 |
| &nbsp;&nbsp;&nbsp;RCI Hospitality Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937 | &nbsp;&nbsp;&nbsp;&nbsp; 33573 |
| &nbsp;&nbsp;&nbsp;Red Rock Resorts, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5584 | &nbsp;&nbsp;&nbsp;&nbsp; 342578 |
| &nbsp;&nbsp;&nbsp;Reservoir Media, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2314 | &nbsp;&nbsp;&nbsp;&nbsp; 18373 |
| &nbsp;&nbsp;&nbsp;Rush Street Interactive, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10092 | &nbsp;&nbsp;&nbsp;&nbsp; 203455 |
| &nbsp;&nbsp;&nbsp;Six Flags Entertainment Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;11020 | &nbsp;&nbsp;&nbsp;&nbsp; 330159 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Entertainment (continued)** | **Entertainment (continued)** | **Entertainment (continued)** |
| &nbsp;&nbsp;&nbsp;Starz Entertainment Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1296 | &nbsp;&nbsp;$18857 |
| &nbsp;&nbsp;&nbsp;Super Group SGHC, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;18117 | &nbsp;&nbsp;&nbsp;&nbsp; 194758 |
| &nbsp;&nbsp;&nbsp;United Parks & Resorts, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3088 | &nbsp;&nbsp;&nbsp;&nbsp; 146155 |
| &nbsp;&nbsp;&nbsp;Webtoon Entertainment, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1771 | &nbsp;&nbsp;&nbsp;&nbsp; 17781 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3311464 |
| **Environmental Control — 0.5%** | **Environmental Control — 0.5%** | **Environmental Control — 0.5%** |
| &nbsp;&nbsp;&nbsp;Arq, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3763 | &nbsp;&nbsp;&nbsp;&nbsp; 20132 |
| &nbsp;&nbsp;&nbsp;Casella Waste Systems, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7184 | &nbsp;&nbsp;&nbsp;&nbsp; 781116 |
| &nbsp;&nbsp;&nbsp;CECO Environmental Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3333 | &nbsp;&nbsp;&nbsp;&nbsp; 149818 |
| &nbsp;&nbsp;&nbsp;Energy Recovery, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6349 | &nbsp;&nbsp;&nbsp;&nbsp; 85394 |
| &nbsp;&nbsp;&nbsp;Enviri Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8953 | &nbsp;&nbsp;&nbsp;&nbsp; 80577 |
| &nbsp;&nbsp;&nbsp;Montrose Environmental Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3587 | &nbsp;&nbsp;&nbsp;&nbsp; 81389 |
| &nbsp;&nbsp;&nbsp;Perma-Fix Environmental Services, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1913 | &nbsp;&nbsp;&nbsp;&nbsp; 22038 |
| &nbsp;&nbsp;&nbsp;Pure Cycle Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2072 | &nbsp;&nbsp;&nbsp;&nbsp; 20306 |
| &nbsp;&nbsp;&nbsp;PureCycle Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14769 | &nbsp;&nbsp;&nbsp;&nbsp; 198052 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1438822 |
| **Food — 1.2%** | **Food — 1.2%** | **Food — 1.2%** |
| &nbsp;&nbsp;&nbsp;B&G Foods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9033 | &nbsp;&nbsp;&nbsp;&nbsp; 37035 |
| &nbsp;&nbsp;&nbsp;Beyond Meat, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8374 | &nbsp;&nbsp;&nbsp;&nbsp; 25457 |
| &nbsp;&nbsp;&nbsp;Calavo Growers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1941 | &nbsp;&nbsp;&nbsp;&nbsp; 51048 |
| &nbsp;&nbsp;&nbsp;Cal-Maine Foods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5225 | &nbsp;&nbsp;&nbsp;&nbsp; 580707 |
| &nbsp;&nbsp;&nbsp;Chefs' Warehouse, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4194 | &nbsp;&nbsp;&nbsp;&nbsp; 287541 |
| &nbsp;&nbsp;&nbsp;Grocery Outlet Holding Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;10775 | &nbsp;&nbsp;&nbsp;&nbsp; 141907 |
| &nbsp;&nbsp;&nbsp;Hain Celestial Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10055 | &nbsp;&nbsp;&nbsp;&nbsp; 15786 |
| &nbsp;&nbsp;&nbsp;HF Foods Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4854 | &nbsp;&nbsp;&nbsp;&nbsp; 13154 |
| &nbsp;&nbsp;&nbsp;Ingles Markets, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1665 | &nbsp;&nbsp;&nbsp;&nbsp; 104779 |
| &nbsp;&nbsp;&nbsp;J&J Snack Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1766 | &nbsp;&nbsp;&nbsp;&nbsp; 199364 |
| &nbsp;&nbsp;&nbsp;John B. Sanfilippo & Son, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1014 | &nbsp;&nbsp;&nbsp;&nbsp; 64196 |
| &nbsp;&nbsp;&nbsp;Lancaster Colony Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2286 | &nbsp;&nbsp;&nbsp;&nbsp; 406360 |
| &nbsp;&nbsp;&nbsp;Lifeway Foods, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496 | &nbsp;&nbsp;&nbsp;&nbsp; 12509 |
| &nbsp;&nbsp;&nbsp;Mama's Creations, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3723 | &nbsp;&nbsp;&nbsp;&nbsp; 30752 |
| &nbsp;&nbsp;&nbsp;Mission Produce, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5483 | &nbsp;&nbsp;&nbsp;&nbsp; 67660 |
| &nbsp;&nbsp;&nbsp;Nathan's Famous, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319 | &nbsp;&nbsp;&nbsp;&nbsp; 30305 |
| &nbsp;&nbsp;&nbsp;Natural Grocers by Vitamin Cottage, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1451 | &nbsp;&nbsp;&nbsp;&nbsp; 54979 |
| &nbsp;&nbsp;&nbsp;Seneca Foods Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp; 56554 |
| &nbsp;&nbsp;&nbsp;Simply Good Foods Co.† | &nbsp;&nbsp;&nbsp;&nbsp;10668 | &nbsp;&nbsp;&nbsp;&nbsp; 324947 |
| &nbsp;&nbsp;&nbsp;SpartanNash Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3833 | &nbsp;&nbsp;&nbsp;&nbsp; 101728 |
| &nbsp;&nbsp;&nbsp;SunOpta, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10928 | &nbsp;&nbsp;&nbsp;&nbsp; 63710 |
| &nbsp;&nbsp;&nbsp;Tootsie Roll Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp; 75860 |
| &nbsp;&nbsp;&nbsp;TreeHouse Foods, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5718 | &nbsp;&nbsp;&nbsp;&nbsp; 109900 |
| &nbsp;&nbsp;&nbsp;United Natural Foods, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6849 | &nbsp;&nbsp;&nbsp;&nbsp; 189306 |
| &nbsp;&nbsp;&nbsp;Utz Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8233 | &nbsp;&nbsp;&nbsp;&nbsp; 107276 |
| &nbsp;&nbsp;&nbsp;Village Super Market, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985 | &nbsp;&nbsp;&nbsp;&nbsp; 33884 |
| &nbsp;&nbsp;&nbsp;Weis Markets, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1878 | &nbsp;&nbsp;&nbsp;&nbsp; 135986 |
| &nbsp;&nbsp;&nbsp;WK Kellogg Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7606 | &nbsp;&nbsp;&nbsp;&nbsp; 175318 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3498008 |
| **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** |
| &nbsp;&nbsp;&nbsp;Magnera Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3785 | &nbsp;&nbsp;&nbsp;&nbsp; 47123 |
| &nbsp;&nbsp;&nbsp;Sylvamo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3935 | &nbsp;&nbsp;&nbsp;&nbsp; 181286 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228409 |
| **Gas — 1.1%** | **Gas — 1.1%** | **Gas — 1.1%** |
| &nbsp;&nbsp;&nbsp;Brookfield Infrastructure Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;13767 | &nbsp;&nbsp;&nbsp;&nbsp; 537464 |
| &nbsp;&nbsp;&nbsp;Chesapeake Utilities Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2601 | &nbsp;&nbsp;&nbsp;&nbsp; 311808 |
| &nbsp;&nbsp;&nbsp;New Jersey Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11494 | &nbsp;&nbsp;&nbsp;&nbsp; 527689 |
| &nbsp;&nbsp;&nbsp;Northwest Natural Holding Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4624 | &nbsp;&nbsp;&nbsp;&nbsp; 184590 |
| &nbsp;&nbsp;&nbsp;ONE Gas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6814 | &nbsp;&nbsp;&nbsp;&nbsp; 495378 |
| &nbsp;&nbsp;&nbsp;RGC Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934 | &nbsp;&nbsp;&nbsp;&nbsp; 18811 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Small Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Gas (continued)** | **Gas (continued)** | **Gas (continued)** |
| &nbsp;&nbsp;&nbsp;Southwest Gas Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7366 | &nbsp;&nbsp;$575579 |
| &nbsp;&nbsp;&nbsp;Spire, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6563 | &nbsp;&nbsp;&nbsp;&nbsp; 488747 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3140066 |
| **Hand/Machine Tools — 0.4%** | **Hand/Machine Tools — 0.4%** | **Hand/Machine Tools — 0.4%** |
| &nbsp;&nbsp;&nbsp;Cadre Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3238 | &nbsp;&nbsp;&nbsp;&nbsp; 107081 |
| &nbsp;&nbsp;&nbsp;Enerpac Tool Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6177 | &nbsp;&nbsp;&nbsp;&nbsp; 237876 |
| &nbsp;&nbsp;&nbsp;Franklin Electric Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4542 | &nbsp;&nbsp;&nbsp;&nbsp; 426721 |
| &nbsp;&nbsp;&nbsp;Kennametal, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8808 | &nbsp;&nbsp;&nbsp;&nbsp; 218086 |
| &nbsp;&nbsp;&nbsp;Luxfer Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3024 | &nbsp;&nbsp;&nbsp;&nbsp; 36348 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1026112 |
| **Healthcare-Products — 3.3%** | **Healthcare-Products — 3.3%** | **Healthcare-Products — 3.3%** |
| &nbsp;&nbsp;&nbsp;10X Genomics, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;12006 | &nbsp;&nbsp;&nbsp;&nbsp; 161481 |
| &nbsp;&nbsp;&nbsp;Accuray, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10063 | &nbsp;&nbsp;&nbsp;&nbsp; 13183 |
| &nbsp;&nbsp;&nbsp;Adaptive Biotechnologies Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;16990 | &nbsp;&nbsp;&nbsp;&nbsp; 173978 |
| &nbsp;&nbsp;&nbsp;Alphatec Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13189 | &nbsp;&nbsp;&nbsp;&nbsp; 139540 |
| &nbsp;&nbsp;&nbsp;AngioDynamics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4468 | &nbsp;&nbsp;&nbsp;&nbsp; 39586 |
| &nbsp;&nbsp;&nbsp;Anteris Technologies Global Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1674 | &nbsp;&nbsp;&nbsp;&nbsp; 5374 |
| &nbsp;&nbsp;&nbsp;Artivion, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4413 | &nbsp;&nbsp;&nbsp;&nbsp; 136406 |
| &nbsp;&nbsp;&nbsp;AtriCure, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5502 | &nbsp;&nbsp;&nbsp;&nbsp; 193120 |
| &nbsp;&nbsp;&nbsp;Avanos Medical, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4903 | &nbsp;&nbsp;&nbsp;&nbsp; 54766 |
| &nbsp;&nbsp;&nbsp;Avita Medical, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3260 | &nbsp;&nbsp;&nbsp;&nbsp; 17278 |
| &nbsp;&nbsp;&nbsp;Axogen, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5022 | &nbsp;&nbsp;&nbsp;&nbsp; 65738 |
| &nbsp;&nbsp;&nbsp;Azenta, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4641 | &nbsp;&nbsp;&nbsp;&nbsp; 151761 |
| &nbsp;&nbsp;&nbsp;Beta Bionics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1342 | &nbsp;&nbsp;&nbsp;&nbsp; 22532 |
| &nbsp;&nbsp;&nbsp;BioLife Solutions, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4332 | &nbsp;&nbsp;&nbsp;&nbsp; 92098 |
| &nbsp;&nbsp;&nbsp;Bioventus, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5243 | &nbsp;&nbsp;&nbsp;&nbsp; 34184 |
| &nbsp;&nbsp;&nbsp;Butterfly Network, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;21837 | &nbsp;&nbsp;&nbsp;&nbsp; 37341 |
| &nbsp;&nbsp;&nbsp;CareDx, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6225 | &nbsp;&nbsp;&nbsp;&nbsp; 76474 |
| &nbsp;&nbsp;&nbsp;Castle Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3112 | &nbsp;&nbsp;&nbsp;&nbsp; 47147 |
| &nbsp;&nbsp;&nbsp;Ceribell, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2833 | &nbsp;&nbsp;&nbsp;&nbsp; 40795 |
| &nbsp;&nbsp;&nbsp;Cerus Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;20732 | &nbsp;&nbsp;&nbsp;&nbsp; 26537 |
| &nbsp;&nbsp;&nbsp;ClearPoint Neuro, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2962 | &nbsp;&nbsp;&nbsp;&nbsp; 30805 |
| &nbsp;&nbsp;&nbsp;CONMED Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3559 | &nbsp;&nbsp;&nbsp;&nbsp; 182043 |
| &nbsp;&nbsp;&nbsp;CVRx, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1847 | &nbsp;&nbsp;&nbsp;&nbsp; 14702 |
| &nbsp;&nbsp;&nbsp;Delcath Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3425 | &nbsp;&nbsp;&nbsp;&nbsp; 36819 |
| &nbsp;&nbsp;&nbsp;Electromed, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784 | &nbsp;&nbsp;&nbsp;&nbsp; 14277 |
| &nbsp;&nbsp;&nbsp;Embecta Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6733 | &nbsp;&nbsp;&nbsp;&nbsp; 68407 |
| &nbsp;&nbsp;&nbsp;Enovis Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6501 | &nbsp;&nbsp;&nbsp;&nbsp; 174227 |
| &nbsp;&nbsp;&nbsp;Glaukos Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6388 | &nbsp;&nbsp;&nbsp;&nbsp; 549943 |
| &nbsp;&nbsp;&nbsp;GRAIL, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3468 | &nbsp;&nbsp;&nbsp;&nbsp; 118640 |
| &nbsp;&nbsp;&nbsp;Guardant Health, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13643 | &nbsp;&nbsp;&nbsp;&nbsp; 559090 |
| &nbsp;&nbsp;&nbsp;Haemonetics Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5732 | &nbsp;&nbsp;&nbsp;&nbsp; 424397 |
| &nbsp;&nbsp;&nbsp;ICU Medical, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2749 | &nbsp;&nbsp;&nbsp;&nbsp; 352999 |
| &nbsp;&nbsp;&nbsp;Inogen, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2678 | &nbsp;&nbsp;&nbsp;&nbsp; 16898 |
| &nbsp;&nbsp;&nbsp;Integer Holdings Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3947 | &nbsp;&nbsp;&nbsp;&nbsp; 428289 |
| &nbsp;&nbsp;&nbsp;Integra LifeSciences Holdings Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7816 | &nbsp;&nbsp;&nbsp;&nbsp; 102702 |
| &nbsp;&nbsp;&nbsp;iRadimed Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;911 | &nbsp;&nbsp;&nbsp;&nbsp; 53148 |
| &nbsp;&nbsp;&nbsp;iRhythm Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3626 | &nbsp;&nbsp;&nbsp;&nbsp; 508293 |
| &nbsp;&nbsp;&nbsp;Kestra Medical Technologies, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1495 | &nbsp;&nbsp;&nbsp;&nbsp; 24667 |
| &nbsp;&nbsp;&nbsp;KORU Medical Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4828 | &nbsp;&nbsp;&nbsp;&nbsp; 16705 |
| &nbsp;&nbsp;&nbsp;Lantheus Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7676 | &nbsp;&nbsp;&nbsp;&nbsp; 546454 |
| &nbsp;&nbsp;&nbsp;LeMaitre Vascular, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2373 | &nbsp;&nbsp;&nbsp;&nbsp; 192783 |
| &nbsp;&nbsp;&nbsp;Lensar, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1070 | &nbsp;&nbsp;&nbsp;&nbsp; 13792 |
| &nbsp;&nbsp;&nbsp;LivaNova PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6233 | &nbsp;&nbsp;&nbsp;&nbsp; 262970 |
| &nbsp;&nbsp;&nbsp;Lucid Diagnostics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7870 | &nbsp;&nbsp;&nbsp;&nbsp; 7702 |
| &nbsp;&nbsp;&nbsp;MaxCyte, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12864 | &nbsp;&nbsp;&nbsp;&nbsp; 26500 |
| &nbsp;&nbsp;&nbsp;Merit Medical Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6687 | &nbsp;&nbsp;&nbsp;&nbsp; 567459 |
| &nbsp;&nbsp;&nbsp;MiMedx Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13706 | &nbsp;&nbsp;&nbsp;&nbsp; 98546 |
| &nbsp;&nbsp;&nbsp;Myomo, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3701 | &nbsp;&nbsp;&nbsp;&nbsp; 7143 |
| &nbsp;&nbsp;&nbsp;Neogen Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;24804 | &nbsp;&nbsp;&nbsp;&nbsp; 115339 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Healthcare-Products (continued)** | **Healthcare-Products (continued)** | **Healthcare-Products (continued)** |
| &nbsp;&nbsp;&nbsp;NeuroPace, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2734 | &nbsp;&nbsp;$23266 |
| &nbsp;&nbsp;&nbsp;Novocure, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;11552 | &nbsp;&nbsp;&nbsp;&nbsp; 133657 |
| &nbsp;&nbsp;&nbsp;OmniAb, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12470 | &nbsp;&nbsp;&nbsp;&nbsp; 23818 |
| &nbsp;&nbsp;&nbsp;Omnicell, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5263 | &nbsp;&nbsp;&nbsp;&nbsp; 163206 |
| &nbsp;&nbsp;&nbsp;OraSure Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8165 | &nbsp;&nbsp;&nbsp;&nbsp; 25965 |
| &nbsp;&nbsp;&nbsp;Orthofix Medical, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4412 | &nbsp;&nbsp;&nbsp;&nbsp; 48708 |
| &nbsp;&nbsp;&nbsp;OrthoPediatrics Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1894 | &nbsp;&nbsp;&nbsp;&nbsp; 39244 |
| &nbsp;&nbsp;&nbsp;Pacific Biosciences of California, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;33121 | &nbsp;&nbsp;&nbsp;&nbsp; 45707 |
| &nbsp;&nbsp;&nbsp;PROCEPT BioRobotics Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5973 | &nbsp;&nbsp;&nbsp;&nbsp; 289750 |
| &nbsp;&nbsp;&nbsp;Pulmonx Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4702 | &nbsp;&nbsp;&nbsp;&nbsp; 8652 |
| &nbsp;&nbsp;&nbsp;Pulse Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1953 | &nbsp;&nbsp;&nbsp;&nbsp; 29334 |
| &nbsp;&nbsp;&nbsp;Quanterix Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4238 | &nbsp;&nbsp;&nbsp;&nbsp; 25174 |
| &nbsp;&nbsp;&nbsp;Quantum-Si, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;16036 | &nbsp;&nbsp;&nbsp;&nbsp; 23733 |
| &nbsp;&nbsp;&nbsp;QuidelOrtho Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7709 | &nbsp;&nbsp;&nbsp;&nbsp; 177461 |
| &nbsp;&nbsp;&nbsp;RxSight, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4081 | &nbsp;&nbsp;&nbsp;&nbsp; 31750 |
| &nbsp;&nbsp;&nbsp;Sanara Medtech, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp; 8339 |
| &nbsp;&nbsp;&nbsp;SANUWAVE Health, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;797 | &nbsp;&nbsp;&nbsp;&nbsp; 30661 |
| &nbsp;&nbsp;&nbsp;Semler Scientific, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952 | &nbsp;&nbsp;&nbsp;&nbsp; 34129 |
| &nbsp;&nbsp;&nbsp;SI-BONE, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4567 | &nbsp;&nbsp;&nbsp;&nbsp; 77776 |
| &nbsp;&nbsp;&nbsp;STAAR Surgical Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5670 | &nbsp;&nbsp;&nbsp;&nbsp; 101578 |
| &nbsp;&nbsp;&nbsp;Stereotaxis, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5468 | &nbsp;&nbsp;&nbsp;&nbsp; 12412 |
| &nbsp;&nbsp;&nbsp;Surmodics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1577 | &nbsp;&nbsp;&nbsp;&nbsp; 56614 |
| &nbsp;&nbsp;&nbsp;Tactile Systems Technology, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2466 | &nbsp;&nbsp;&nbsp;&nbsp; 24611 |
| &nbsp;&nbsp;&nbsp;Tandem Diabetes Care, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7571 | &nbsp;&nbsp;&nbsp;&nbsp; 117956 |
| &nbsp;&nbsp;&nbsp;TransMedics Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3780 | &nbsp;&nbsp;&nbsp;&nbsp; 449707 |
| &nbsp;&nbsp;&nbsp;Treace Medical Concepts, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5677 | &nbsp;&nbsp;&nbsp;&nbsp; 30485 |
| &nbsp;&nbsp;&nbsp;Twist Bioscience Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6787 | &nbsp;&nbsp;&nbsp;&nbsp; 227840 |
| &nbsp;&nbsp;&nbsp;UFP Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp;&nbsp;&nbsp; 193563 |
| &nbsp;&nbsp;&nbsp;Utah Medical Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304 | &nbsp;&nbsp;&nbsp;&nbsp; 16902 |
| &nbsp;&nbsp;&nbsp;Varex Imaging Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4666 | &nbsp;&nbsp;&nbsp;&nbsp; 33968 |
| &nbsp;&nbsp;&nbsp;Zimvie, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2996 | &nbsp;&nbsp;&nbsp;&nbsp; 56295 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9607319 |
| **Healthcare-Services — 2.1%** | **Healthcare-Services — 2.1%** | **Healthcare-Services — 2.1%** |
| &nbsp;&nbsp;&nbsp;Addus HomeCare Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2065 | &nbsp;&nbsp;&nbsp;&nbsp; 220501 |
| &nbsp;&nbsp;&nbsp;agilon health, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;35507 | &nbsp;&nbsp;&nbsp;&nbsp; 63557 |
| &nbsp;&nbsp;&nbsp;Ardent Health Partners LLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3041 | &nbsp;&nbsp;&nbsp;&nbsp; 32235 |
| &nbsp;&nbsp;&nbsp;Astrana Health, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4904 | &nbsp;&nbsp;&nbsp;&nbsp; 117009 |
| &nbsp;&nbsp;&nbsp;Aveanna Healthcare Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5770 | &nbsp;&nbsp;&nbsp;&nbsp; 22907 |
| &nbsp;&nbsp;&nbsp;Blade Air Mobility, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7188 | &nbsp;&nbsp;&nbsp;&nbsp; 28680 |
| &nbsp;&nbsp;&nbsp;BrightSpring Health Services, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9608 | &nbsp;&nbsp;&nbsp;&nbsp; 198405 |
| &nbsp;&nbsp;&nbsp;Brookdale Senior Living, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;26102 | &nbsp;&nbsp;&nbsp;&nbsp; 202290 |
| &nbsp;&nbsp;&nbsp;Clover Health Investments Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;45904 | &nbsp;&nbsp;&nbsp;&nbsp; 132663 |
| &nbsp;&nbsp;&nbsp;Community Health Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14742 | &nbsp;&nbsp;&nbsp;&nbsp; 38329 |
| &nbsp;&nbsp;&nbsp;Concentra Group Holdings Parent, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13438 | &nbsp;&nbsp;&nbsp;&nbsp; 268357 |
| &nbsp;&nbsp;&nbsp;CorVel Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3311 | &nbsp;&nbsp;&nbsp;&nbsp; 293355 |
| &nbsp;&nbsp;&nbsp;DocGo, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9521 | &nbsp;&nbsp;&nbsp;&nbsp; 12949 |
| &nbsp;&nbsp;&nbsp;Enhabit, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5633 | &nbsp;&nbsp;&nbsp;&nbsp; 37854 |
| &nbsp;&nbsp;&nbsp;Ensign Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6418 | &nbsp;&nbsp;&nbsp;&nbsp; 962700 |
| &nbsp;&nbsp;&nbsp;Fortrea Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10385 | &nbsp;&nbsp;&nbsp;&nbsp; 59610 |
| &nbsp;&nbsp;&nbsp;Fulgent Genetics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2330 | &nbsp;&nbsp;&nbsp;&nbsp; 40029 |
| &nbsp;&nbsp;&nbsp;GeneDx Holdings Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2135 | &nbsp;&nbsp;&nbsp;&nbsp; 217663 |
| &nbsp;&nbsp;&nbsp;Ginkgo Bioworks Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4420 | &nbsp;&nbsp;&nbsp;&nbsp; 58079 |
| &nbsp;&nbsp;&nbsp;HealthEquity, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9749 | &nbsp;&nbsp;&nbsp;&nbsp; 945653 |
| &nbsp;&nbsp;&nbsp;Innovage Holding Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2153 | &nbsp;&nbsp;&nbsp;&nbsp; 7148 |
| &nbsp;&nbsp;&nbsp;Joint Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1714 | &nbsp;&nbsp;&nbsp;&nbsp; 18923 |
| &nbsp;&nbsp;&nbsp;LifeStance Health Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;16103 | &nbsp;&nbsp;&nbsp;&nbsp; 64090 |
| &nbsp;&nbsp;&nbsp;Nano-X Imaging, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7305 | &nbsp;&nbsp;&nbsp;&nbsp; 34407 |
| &nbsp;&nbsp;&nbsp;National HealthCare Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1451 | &nbsp;&nbsp;&nbsp;&nbsp; 139339 |
| &nbsp;&nbsp;&nbsp;Neuronetics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4111 | &nbsp;&nbsp;&nbsp;&nbsp; 18047 |
| &nbsp;&nbsp;&nbsp;Oncology Institute, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6710 | &nbsp;&nbsp;&nbsp;&nbsp; 24626 |
| &nbsp;&nbsp;&nbsp;OPKO Health, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;41129 | &nbsp;&nbsp;&nbsp;&nbsp; 52645 |
| &nbsp;&nbsp;&nbsp;Oscar Health, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;20829 | &nbsp;&nbsp;&nbsp;&nbsp; 292647 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Small Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Healthcare-Services (continued)** | **Healthcare-Services (continued)** | **Healthcare-Services (continued)** |
| &nbsp;&nbsp;&nbsp;PACS Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5009 | &nbsp;&nbsp;$55400 |
| &nbsp;&nbsp;&nbsp;Pediatrix Medical Group, Inc. † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9962 | &nbsp;&nbsp;&nbsp;&nbsp; 122034 |
| &nbsp;&nbsp;&nbsp;Pennant Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3852 | &nbsp;&nbsp;&nbsp;&nbsp; 85399 |
| &nbsp;&nbsp;&nbsp;Personalis, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5701 | &nbsp;&nbsp;&nbsp;&nbsp; 31241 |
| &nbsp;&nbsp;&nbsp;Privia Health Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13223 | &nbsp;&nbsp;&nbsp;&nbsp; 258113 |
| &nbsp;&nbsp;&nbsp;RadNet, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7597 | &nbsp;&nbsp;&nbsp;&nbsp; 415784 |
| &nbsp;&nbsp;&nbsp;SBC Medical Group Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645 | &nbsp;&nbsp;&nbsp;&nbsp; 2793 |
| &nbsp;&nbsp;&nbsp;Select Medical Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12715 | &nbsp;&nbsp;&nbsp;&nbsp; 188055 |
| &nbsp;&nbsp;&nbsp;Sonida Senior Living, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627 | &nbsp;&nbsp;&nbsp;&nbsp; 15311 |
| &nbsp;&nbsp;&nbsp;Surgery Partners, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8837 | &nbsp;&nbsp;&nbsp;&nbsp; 193972 |
| &nbsp;&nbsp;&nbsp;Teladoc Health, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;19932 | &nbsp;&nbsp;&nbsp;&nbsp; 143710 |
| &nbsp;&nbsp;&nbsp;U.S. Physical Therapy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1715 | &nbsp;&nbsp;&nbsp;&nbsp; 125452 |
| &nbsp;&nbsp;&nbsp;Viemed Healthcare, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3879 | &nbsp;&nbsp;&nbsp;&nbsp; 23623 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6265584 |
| **Home Builders — 1.6%** | **Home Builders — 1.6%** | **Home Builders — 1.6%** |
| &nbsp;&nbsp;&nbsp;Beazer Homes USA, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3310 | &nbsp;&nbsp;&nbsp;&nbsp; 77785 |
| &nbsp;&nbsp;&nbsp;Cavco Industries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890 | &nbsp;&nbsp;&nbsp;&nbsp; 359266 |
| &nbsp;&nbsp;&nbsp;Century Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3103 | &nbsp;&nbsp;&nbsp;&nbsp; 174668 |
| &nbsp;&nbsp;&nbsp;Champion Homes, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6145 | &nbsp;&nbsp;&nbsp;&nbsp; 374231 |
| &nbsp;&nbsp;&nbsp;Dream Finders Homes, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3433 | &nbsp;&nbsp;&nbsp;&nbsp; 86924 |
| &nbsp;&nbsp;&nbsp;Forestar Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2079 | &nbsp;&nbsp;&nbsp;&nbsp; 51559 |
| &nbsp;&nbsp;&nbsp;Green Brick Partners, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3601 | &nbsp;&nbsp;&nbsp;&nbsp; 223046 |
| &nbsp;&nbsp;&nbsp;Hovnanian Enterprises, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp;&nbsp;&nbsp; 68098 |
| &nbsp;&nbsp;&nbsp;Installed Building Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2683 | &nbsp;&nbsp;&nbsp;&nbsp; 542744 |
| &nbsp;&nbsp;&nbsp;KB Home | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7959 | &nbsp;&nbsp;&nbsp;&nbsp; 439814 |
| &nbsp;&nbsp;&nbsp;LCI Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2806 | &nbsp;&nbsp;&nbsp;&nbsp; 266570 |
| &nbsp;&nbsp;&nbsp;LGI Homes, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2375 | &nbsp;&nbsp;&nbsp;&nbsp; 126516 |
| &nbsp;&nbsp;&nbsp;M/I Homes, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3013 | &nbsp;&nbsp;&nbsp;&nbsp; 362132 |
| &nbsp;&nbsp;&nbsp;Meritage Homes Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8120 | &nbsp;&nbsp;&nbsp;&nbsp; 546801 |
| &nbsp;&nbsp;&nbsp;Taylor Morrison Home Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;11268 | &nbsp;&nbsp;&nbsp;&nbsp; 667967 |
| &nbsp;&nbsp;&nbsp;Tri Pointe Homes, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10362 | &nbsp;&nbsp;&nbsp;&nbsp; 319150 |
| &nbsp;&nbsp;&nbsp;Winnebago Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3118 | &nbsp;&nbsp;&nbsp;&nbsp; 92667 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4779938 |
| **Home Furnishings — 0.3%** | **Home Furnishings — 0.3%** | **Home Furnishings — 0.3%** |
| &nbsp;&nbsp;&nbsp;Arhaus, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5656 | &nbsp;&nbsp;&nbsp;&nbsp; 49546 |
| &nbsp;&nbsp;&nbsp;Daktronics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4578 | &nbsp;&nbsp;&nbsp;&nbsp; 74255 |
| &nbsp;&nbsp;&nbsp;Ethan Allen Interiors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2640 | &nbsp;&nbsp;&nbsp;&nbsp; 78593 |
| &nbsp;&nbsp;&nbsp;Flexsteel Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471 | &nbsp;&nbsp;&nbsp;&nbsp; 16019 |
| &nbsp;&nbsp;&nbsp;Hamilton Beach Brands Holding Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;932 | &nbsp;&nbsp;&nbsp;&nbsp; 14511 |
| &nbsp;&nbsp;&nbsp;Leggett & Platt, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15169 | &nbsp;&nbsp;&nbsp;&nbsp; 144864 |
| &nbsp;&nbsp;&nbsp;Lovesac Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1728 | &nbsp;&nbsp;&nbsp;&nbsp; 31121 |
| &nbsp;&nbsp;&nbsp;MillerKnoll, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7702 | &nbsp;&nbsp;&nbsp;&nbsp; 146184 |
| &nbsp;&nbsp;&nbsp;Sleep Number Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2429 | &nbsp;&nbsp;&nbsp;&nbsp; 17804 |
| &nbsp;&nbsp;&nbsp;Sonos, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13623 | &nbsp;&nbsp;&nbsp;&nbsp; 147265 |
| &nbsp;&nbsp;&nbsp;Traeger, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4945 | &nbsp;&nbsp;&nbsp;&nbsp; 8011 |
| &nbsp;&nbsp;&nbsp;Xperi, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5032 | &nbsp;&nbsp;&nbsp;&nbsp; 30293 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;758466 |
| **Household Products/Wares — 0.3%** | **Household Products/Wares — 0.3%** | **Household Products/Wares — 0.3%** |
| &nbsp;&nbsp;&nbsp;ACCO Brands Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10545 | &nbsp;&nbsp;&nbsp;&nbsp; 39544 |
| &nbsp;&nbsp;&nbsp;Acme United Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378 | &nbsp;&nbsp;&nbsp;&nbsp; 15188 |
| &nbsp;&nbsp;&nbsp;Central Garden & Pet Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1054 | &nbsp;&nbsp;&nbsp;&nbsp; 41127 |
| &nbsp;&nbsp;&nbsp;Central Garden & Pet Co., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5879 | &nbsp;&nbsp;&nbsp;&nbsp; 208822 |
| &nbsp;&nbsp;&nbsp;Helen of Troy, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2713 | &nbsp;&nbsp;&nbsp;&nbsp; 59632 |
| &nbsp;&nbsp;&nbsp;Quanex Building Products Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5245 | &nbsp;&nbsp;&nbsp;&nbsp; 102172 |
| &nbsp;&nbsp;&nbsp;Spectrum Brands Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2908 | &nbsp;&nbsp;&nbsp;&nbsp; 155607 |
| &nbsp;&nbsp;&nbsp;WD-40 Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1555 | &nbsp;&nbsp;&nbsp;&nbsp; 333392 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955484 |
| **Insurance — 2.1%** | **Insurance — 2.1%** | **Insurance — 2.1%** |
| &nbsp;&nbsp;&nbsp;Ambac Financial Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5149 | &nbsp;&nbsp;&nbsp;&nbsp; 43252 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| &nbsp;&nbsp;&nbsp;American Coastal Insurance Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2734 | &nbsp;&nbsp;$28461 |
| &nbsp;&nbsp;&nbsp;AMERISAFE, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2155 | &nbsp;&nbsp;&nbsp;&nbsp; 96501 |
| &nbsp;&nbsp;&nbsp;Baldwin Insurance Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7994 | &nbsp;&nbsp;&nbsp;&nbsp; 294499 |
| &nbsp;&nbsp;&nbsp;Bowhead Specialty Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1792 | &nbsp;&nbsp;&nbsp;&nbsp; 58240 |
| &nbsp;&nbsp;&nbsp;Citizens, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5141 | &nbsp;&nbsp;&nbsp;&nbsp; 19639 |
| &nbsp;&nbsp;&nbsp;CNO Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11255 | &nbsp;&nbsp;&nbsp;&nbsp; 414634 |
| &nbsp;&nbsp;&nbsp;Crawford & Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1717 | &nbsp;&nbsp;&nbsp;&nbsp; 16432 |
| &nbsp;&nbsp;&nbsp;Donegal Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1780 | &nbsp;&nbsp;&nbsp;&nbsp; 30527 |
| &nbsp;&nbsp;&nbsp;eHealth, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3272 | &nbsp;&nbsp;&nbsp;&nbsp; 11125 |
| &nbsp;&nbsp;&nbsp;Employers Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2746 | &nbsp;&nbsp;&nbsp;&nbsp; 113355 |
| &nbsp;&nbsp;&nbsp;Essent Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;11508 | &nbsp;&nbsp;&nbsp;&nbsp; 644333 |
| &nbsp;&nbsp;&nbsp;F&G Annuities & Life, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2421 | &nbsp;&nbsp;&nbsp;&nbsp; 77254 |
| &nbsp;&nbsp;&nbsp;Fidelis Insurance Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6779 | &nbsp;&nbsp;&nbsp;&nbsp; 102431 |
| &nbsp;&nbsp;&nbsp;Genworth Financial, Inc.,† | &nbsp;&nbsp;&nbsp;&nbsp;46871 | &nbsp;&nbsp;&nbsp;&nbsp; 368406 |
| &nbsp;&nbsp;&nbsp;GoHealth, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515 | &nbsp;&nbsp;&nbsp;&nbsp; 3157 |
| &nbsp;&nbsp;&nbsp;Goosehead Insurance, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2742 | &nbsp;&nbsp;&nbsp;&nbsp; 249275 |
| &nbsp;&nbsp;&nbsp;Greenlight Capital Re, Ltd., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3073 | &nbsp;&nbsp;&nbsp;&nbsp; 39949 |
| &nbsp;&nbsp;&nbsp;Hamilton Insurance Group, Ltd., Class B† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5116 | &nbsp;&nbsp;&nbsp;&nbsp; 109943 |
| &nbsp;&nbsp;&nbsp;HCI Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp;&nbsp;&nbsp; 136539 |
| &nbsp;&nbsp;&nbsp;Heritage Insurance Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2586 | &nbsp;&nbsp;&nbsp;&nbsp; 54539 |
| &nbsp;&nbsp;&nbsp;Hippo Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2226 | &nbsp;&nbsp;&nbsp;&nbsp; 57520 |
| &nbsp;&nbsp;&nbsp;Horace Mann Educators Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4651 | &nbsp;&nbsp;&nbsp;&nbsp; 197807 |
| &nbsp;&nbsp;&nbsp;Investors Title Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161 | &nbsp;&nbsp;&nbsp;&nbsp; 34006 |
| &nbsp;&nbsp;&nbsp;James River Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4242 | &nbsp;&nbsp;&nbsp;&nbsp; 24179 |
| &nbsp;&nbsp;&nbsp;Kestrel Group, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604 | &nbsp;&nbsp;&nbsp;&nbsp; 16417 |
| &nbsp;&nbsp;&nbsp;Kingstone Cos, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1257 | &nbsp;&nbsp;&nbsp;&nbsp; 20602 |
| &nbsp;&nbsp;&nbsp;Kingsway Financial Services, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2061 | &nbsp;&nbsp;&nbsp;&nbsp; 28813 |
| &nbsp;&nbsp;&nbsp;Lemonade, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6328 | &nbsp;&nbsp;&nbsp;&nbsp; 238439 |
| &nbsp;&nbsp;&nbsp;MBIA, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5049 | &nbsp;&nbsp;&nbsp;&nbsp; 26911 |
| &nbsp;&nbsp;&nbsp;Mercury General Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3075 | &nbsp;&nbsp;&nbsp;&nbsp; 212944 |
| &nbsp;&nbsp;&nbsp;NI Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883 | &nbsp;&nbsp;&nbsp;&nbsp; 11249 |
| &nbsp;&nbsp;&nbsp;NMI Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8930 | &nbsp;&nbsp;&nbsp;&nbsp; 333267 |
| &nbsp;&nbsp;&nbsp;Palomar Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2999 | &nbsp;&nbsp;&nbsp;&nbsp; 397337 |
| &nbsp;&nbsp;&nbsp;ProAssurance Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5838 | &nbsp;&nbsp;&nbsp;&nbsp; 138711 |
| &nbsp;&nbsp;&nbsp;Root, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1210 | &nbsp;&nbsp;&nbsp;&nbsp; 146446 |
| &nbsp;&nbsp;&nbsp;Safety Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1661 | &nbsp;&nbsp;&nbsp;&nbsp; 116851 |
| &nbsp;&nbsp;&nbsp;Selective Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6952 | &nbsp;&nbsp;&nbsp;&nbsp; 542047 |
| &nbsp;&nbsp;&nbsp;Selectquote, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;15363 | &nbsp;&nbsp;&nbsp;&nbsp; 27039 |
| &nbsp;&nbsp;&nbsp;Skyward Specialty Insurance Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4202 | &nbsp;&nbsp;&nbsp;&nbsp; 212537 |
| &nbsp;&nbsp;&nbsp;Stewart Information Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3162 | &nbsp;&nbsp;&nbsp;&nbsp; 205309 |
| &nbsp;&nbsp;&nbsp;Tiptree, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2691 | &nbsp;&nbsp;&nbsp;&nbsp; 55919 |
| &nbsp;&nbsp;&nbsp;Trupanion, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4219 | &nbsp;&nbsp;&nbsp;&nbsp; 200023 |
| &nbsp;&nbsp;&nbsp;United Fire Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2373 | &nbsp;&nbsp;&nbsp;&nbsp; 63003 |
| &nbsp;&nbsp;&nbsp;Universal Insurance Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2892 | &nbsp;&nbsp;&nbsp;&nbsp; 68367 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6288234 |
| **Internet — 2.0%** | **Internet — 2.0%** | **Internet — 2.0%** |
| &nbsp;&nbsp;&nbsp;1-800-Flowers.com, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3127 | &nbsp;&nbsp;&nbsp;&nbsp; 18481 |
| &nbsp;&nbsp;&nbsp;Angi, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4926 | &nbsp;&nbsp;&nbsp;&nbsp; 79900 |
| &nbsp;&nbsp;&nbsp;Arena Group Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1467 | &nbsp;&nbsp;&nbsp;&nbsp; 8963 |
| &nbsp;&nbsp;&nbsp;AudioEye, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747 | &nbsp;&nbsp;&nbsp;&nbsp; 9569 |
| &nbsp;&nbsp;&nbsp;Backblaze, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6090 | &nbsp;&nbsp;&nbsp;&nbsp; 30389 |
| &nbsp;&nbsp;&nbsp;BARK, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12134 | &nbsp;&nbsp;&nbsp;&nbsp; 10452 |
| &nbsp;&nbsp;&nbsp;Beyond, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6255 | &nbsp;&nbsp;&nbsp;&nbsp; 55982 |
| &nbsp;&nbsp;&nbsp;Bumble, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9802 | &nbsp;&nbsp;&nbsp;&nbsp; 76260 |
| &nbsp;&nbsp;&nbsp;Cargurus, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9448 | &nbsp;&nbsp;&nbsp;&nbsp; 310083 |
| &nbsp;&nbsp;&nbsp;Cars.com, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7604 | &nbsp;&nbsp;&nbsp;&nbsp; 97863 |
| &nbsp;&nbsp;&nbsp;Cogent Communications Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5177 | &nbsp;&nbsp;&nbsp;&nbsp; 236019 |
| &nbsp;&nbsp;&nbsp;Couchbase, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4895 | &nbsp;&nbsp;&nbsp;&nbsp; 118753 |
| &nbsp;&nbsp;&nbsp;Crexendo, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1644 | &nbsp;&nbsp;&nbsp;&nbsp; 9157 |
| &nbsp;&nbsp;&nbsp;Entravision Communications Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7941 | &nbsp;&nbsp;&nbsp;&nbsp; 17550 |
| &nbsp;&nbsp;&nbsp;ePlus, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2977 | &nbsp;&nbsp;&nbsp;&nbsp; 192850 |
| &nbsp;&nbsp;&nbsp;Eventbrite, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8181 | &nbsp;&nbsp;&nbsp;&nbsp; 19962 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Small Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| &nbsp;&nbsp;&nbsp;EverQuote, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3113 | &nbsp;&nbsp;$76549 |
| &nbsp;&nbsp;&nbsp;Figs, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;10061 | &nbsp;&nbsp;&nbsp;&nbsp; 65397 |
| &nbsp;&nbsp;&nbsp;fuboTV, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;38992 | &nbsp;&nbsp;&nbsp;&nbsp; 155188 |
| &nbsp;&nbsp;&nbsp;Gaia, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1937 | &nbsp;&nbsp;&nbsp;&nbsp; 8135 |
| &nbsp;&nbsp;&nbsp;Gambling.com Group, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1626 | &nbsp;&nbsp;&nbsp;&nbsp; 17187 |
| &nbsp;&nbsp;&nbsp;Getty Images Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12575 | &nbsp;&nbsp;&nbsp;&nbsp; 22258 |
| &nbsp;&nbsp;&nbsp;Grindr, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3794 | &nbsp;&nbsp;&nbsp;&nbsp; 66319 |
| &nbsp;&nbsp;&nbsp;Groupon, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2845 | &nbsp;&nbsp;&nbsp;&nbsp; 87740 |
| &nbsp;&nbsp;&nbsp;HealthStream, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2787 | &nbsp;&nbsp;&nbsp;&nbsp; 72908 |
| &nbsp;&nbsp;&nbsp;Hims & Hers Health, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;21773 | &nbsp;&nbsp;&nbsp;&nbsp; 1440937 |
| &nbsp;&nbsp;&nbsp;Lands' End, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1871 | &nbsp;&nbsp;&nbsp;&nbsp; 21947 |
| &nbsp;&nbsp;&nbsp;LifeMD, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4393 | &nbsp;&nbsp;&nbsp;&nbsp; 45731 |
| &nbsp;&nbsp;&nbsp;Liquidity Services, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2656 | &nbsp;&nbsp;&nbsp;&nbsp; 63425 |
| &nbsp;&nbsp;&nbsp;Magnite, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;15922 | &nbsp;&nbsp;&nbsp;&nbsp; 366365 |
| &nbsp;&nbsp;&nbsp;MediaAlpha, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3556 | &nbsp;&nbsp;&nbsp;&nbsp; 35631 |
| &nbsp;&nbsp;&nbsp;Nerdy, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10525 | &nbsp;&nbsp;&nbsp;&nbsp; 15893 |
| &nbsp;&nbsp;&nbsp;Newsmax, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;864 | &nbsp;&nbsp;&nbsp;&nbsp; 11483 |
| &nbsp;&nbsp;&nbsp;Nextdoor Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;24071 | &nbsp;&nbsp;&nbsp;&nbsp; 42124 |
| &nbsp;&nbsp;&nbsp;Open Lending Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;10907 | &nbsp;&nbsp;&nbsp;&nbsp; 23886 |
| &nbsp;&nbsp;&nbsp;OptimizeRx Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2018 | &nbsp;&nbsp;&nbsp;&nbsp; 25467 |
| &nbsp;&nbsp;&nbsp;Q2 Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7111 | &nbsp;&nbsp;&nbsp;&nbsp; 577413 |
| &nbsp;&nbsp;&nbsp;QuinStreet, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6255 | &nbsp;&nbsp;&nbsp;&nbsp; 102645 |
| &nbsp;&nbsp;&nbsp;RealReal, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;11188 | &nbsp;&nbsp;&nbsp;&nbsp; 58849 |
| &nbsp;&nbsp;&nbsp;Revolve Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4630 | &nbsp;&nbsp;&nbsp;&nbsp; 96072 |
| &nbsp;&nbsp;&nbsp;Rumble, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8958 | &nbsp;&nbsp;&nbsp;&nbsp; 75606 |
| &nbsp;&nbsp;&nbsp;Serve Robotics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5329 | &nbsp;&nbsp;&nbsp;&nbsp; 54303 |
| &nbsp;&nbsp;&nbsp;Shutterstock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2752 | &nbsp;&nbsp;&nbsp;&nbsp; 52728 |
| &nbsp;&nbsp;&nbsp;Sprinklr, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;13111 | &nbsp;&nbsp;&nbsp;&nbsp; 118130 |
| &nbsp;&nbsp;&nbsp;Stitch Fix, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;11457 | &nbsp;&nbsp;&nbsp;&nbsp; 54192 |
| &nbsp;&nbsp;&nbsp;Travelzoo† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722 | &nbsp;&nbsp;&nbsp;&nbsp; 7213 |
| &nbsp;&nbsp;&nbsp;Triller Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;11715 | &nbsp;&nbsp;&nbsp;&nbsp; 6316 |
| &nbsp;&nbsp;&nbsp;TripAdvisor, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13233 | &nbsp;&nbsp;&nbsp;&nbsp; 231445 |
| &nbsp;&nbsp;&nbsp;TrueCar, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8933 | &nbsp;&nbsp;&nbsp;&nbsp; 16347 |
| &nbsp;&nbsp;&nbsp;Tucows, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713 | &nbsp;&nbsp;&nbsp;&nbsp; 12285 |
| &nbsp;&nbsp;&nbsp;Upwork, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14091 | &nbsp;&nbsp;&nbsp;&nbsp; 168528 |
| &nbsp;&nbsp;&nbsp;Vivid Seats, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7491 | &nbsp;&nbsp;&nbsp;&nbsp; 11611 |
| &nbsp;&nbsp;&nbsp;Yelp, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7198 | &nbsp;&nbsp;&nbsp;&nbsp; 247827 |
| &nbsp;&nbsp;&nbsp;Ziff Davis, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4865 | &nbsp;&nbsp;&nbsp;&nbsp; 151399 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5999712 |
| **Investment Companies — 1.1%** | **Investment Companies — 1.1%** | **Investment Companies — 1.1%** |
| &nbsp;&nbsp;&nbsp;Bit Digital, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;20627 | &nbsp;&nbsp;&nbsp;&nbsp; 60025 |
| &nbsp;&nbsp;&nbsp;Bitdeer Technologies Group† | &nbsp;&nbsp;&nbsp;&nbsp;10208 | &nbsp;&nbsp;&nbsp;&nbsp; 131581 |
| &nbsp;&nbsp;&nbsp;Cannae Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6551 | &nbsp;&nbsp;&nbsp;&nbsp; 140060 |
| &nbsp;&nbsp;&nbsp;Cipher Mining, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;30154 | &nbsp;&nbsp;&nbsp;&nbsp; 164641 |
| &nbsp;&nbsp;&nbsp;Cleanspark, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;31706 | &nbsp;&nbsp;&nbsp;&nbsp; 360497 |
| &nbsp;&nbsp;&nbsp;Compass Diversified Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7539 | &nbsp;&nbsp;&nbsp;&nbsp; 48174 |
| &nbsp;&nbsp;&nbsp;Core Scientific, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;31399 | &nbsp;&nbsp;&nbsp;&nbsp; 425143 |
| &nbsp;&nbsp;&nbsp;FTAI Infrastructure, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10912 | &nbsp;&nbsp;&nbsp;&nbsp; 68418 |
| &nbsp;&nbsp;&nbsp;HA Sustainable Infrastructure Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13918 | &nbsp;&nbsp;&nbsp;&nbsp; 361450 |
| &nbsp;&nbsp;&nbsp;Hut 8 Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;10718 | &nbsp;&nbsp;&nbsp;&nbsp; 227543 |
| &nbsp;&nbsp;&nbsp;MARA Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;39644 | &nbsp;&nbsp;&nbsp;&nbsp; 637476 |
| &nbsp;&nbsp;&nbsp;NewtekOne, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2801 | &nbsp;&nbsp;&nbsp;&nbsp; 32043 |
| &nbsp;&nbsp;&nbsp;Riot Platforms, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;37592 | &nbsp;&nbsp;&nbsp;&nbsp; 504109 |
| &nbsp;&nbsp;&nbsp;Terawulf, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;30073 | &nbsp;&nbsp;&nbsp;&nbsp; 155177 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3316337 |
| **Iron/Steel — 0.2%** | **Iron/Steel — 0.2%** | **Iron/Steel — 0.2%** |
| &nbsp;&nbsp;&nbsp;Commercial Metals Co. | &nbsp;&nbsp;&nbsp;&nbsp;12958 | &nbsp;&nbsp;&nbsp;&nbsp; 672002 |
| &nbsp;&nbsp;&nbsp;Friedman Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756 | &nbsp;&nbsp;&nbsp;&nbsp; 11461 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683463 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Leisure Time — 0.7%** | **Leisure Time — 0.7%** | **Leisure Time — 0.7%** |
| &nbsp;&nbsp;&nbsp;Acushnet Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3220 | &nbsp;&nbsp;$256376 |
| &nbsp;&nbsp;&nbsp;American Outdoor Brands, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1397 | &nbsp;&nbsp;&nbsp;&nbsp; 13146 |
| &nbsp;&nbsp;&nbsp;Escalade, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1135 | &nbsp;&nbsp;&nbsp;&nbsp; 13949 |
| &nbsp;&nbsp;&nbsp;Global Business Travel Group I† | &nbsp;&nbsp;&nbsp;&nbsp;10743 | &nbsp;&nbsp;&nbsp;&nbsp; 69078 |
| &nbsp;&nbsp;&nbsp;Johnson Outdoors, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537 | &nbsp;&nbsp;&nbsp;&nbsp; 17828 |
| &nbsp;&nbsp;&nbsp;Life Time Group Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;15441 | &nbsp;&nbsp;&nbsp;&nbsp; 443466 |
| &nbsp;&nbsp;&nbsp;Lindblad Expeditions Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4134 | &nbsp;&nbsp;&nbsp;&nbsp; 49401 |
| &nbsp;&nbsp;&nbsp;Livewire Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4176 | &nbsp;&nbsp;&nbsp;&nbsp; 15660 |
| &nbsp;&nbsp;&nbsp;Malibu Boats, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2098 | &nbsp;&nbsp;&nbsp;&nbsp; 69884 |
| &nbsp;&nbsp;&nbsp;Marine Products Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;993 | &nbsp;&nbsp;&nbsp;&nbsp; 8530 |
| &nbsp;&nbsp;&nbsp;MasterCraft Boat Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1873 | &nbsp;&nbsp;&nbsp;&nbsp; 36224 |
| &nbsp;&nbsp;&nbsp;OneSpaWorld Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;11365 | &nbsp;&nbsp;&nbsp;&nbsp; 251394 |
| &nbsp;&nbsp;&nbsp;Peloton Interactive, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;42394 | &nbsp;&nbsp;&nbsp;&nbsp; 302693 |
| &nbsp;&nbsp;&nbsp;Polaris, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6128 | &nbsp;&nbsp;&nbsp;&nbsp; 324232 |
| &nbsp;&nbsp;&nbsp;Sabre Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;44629 | &nbsp;&nbsp;&nbsp;&nbsp; 135226 |
| &nbsp;&nbsp;&nbsp;Topgolf Callaway Brands Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;15831 | &nbsp;&nbsp;&nbsp;&nbsp; 146437 |
| &nbsp;&nbsp;&nbsp;Xponential Fitness, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3137 | &nbsp;&nbsp;&nbsp;&nbsp; 32813 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2186337 |
| **Lodging — 0.1%** | **Lodging — 0.1%** | **Lodging — 0.1%** |
| &nbsp;&nbsp;&nbsp;Hilton Grand Vacations, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6966 | &nbsp;&nbsp;&nbsp;&nbsp; 312216 |
| &nbsp;&nbsp;&nbsp;Marcus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2640 | &nbsp;&nbsp;&nbsp;&nbsp; 43217 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355433 |
| **Machinery-Construction & Mining — 0.9%** | **Machinery-Construction & Mining — 0.9%** | **Machinery-Construction & Mining — 0.9%** |
| &nbsp;&nbsp;&nbsp;Argan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1508 | &nbsp;&nbsp;&nbsp;&nbsp; 369430 |
| &nbsp;&nbsp;&nbsp;Astec Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2553 | &nbsp;&nbsp;&nbsp;&nbsp; 101252 |
| &nbsp;&nbsp;&nbsp;Bloom Energy Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;23292 | &nbsp;&nbsp;&nbsp;&nbsp; 870888 |
| &nbsp;&nbsp;&nbsp;Hyster-Yale, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1296 | &nbsp;&nbsp;&nbsp;&nbsp; 54445 |
| &nbsp;&nbsp;&nbsp;Lightbridge Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2132 | &nbsp;&nbsp;&nbsp;&nbsp; 28739 |
| &nbsp;&nbsp;&nbsp;Manitowoc Co., Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3899 | &nbsp;&nbsp;&nbsp;&nbsp; 49712 |
| &nbsp;&nbsp;&nbsp;NANO Nuclear Energy, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3041 | &nbsp;&nbsp;&nbsp;&nbsp; 107743 |
| &nbsp;&nbsp;&nbsp;Net Power, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3861 | &nbsp;&nbsp;&nbsp;&nbsp; 11120 |
| &nbsp;&nbsp;&nbsp;NuScale Power Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;14416 | &nbsp;&nbsp;&nbsp;&nbsp; 723827 |
| &nbsp;&nbsp;&nbsp;Terex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7538 | &nbsp;&nbsp;&nbsp;&nbsp; 383383 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700539 |
| **Machinery-Diversified — 2.0%** | **Machinery-Diversified — 2.0%** | **Machinery-Diversified — 2.0%** |
| &nbsp;&nbsp;&nbsp;Aebi Schmidt Holding AG† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4268 | &nbsp;&nbsp;&nbsp;&nbsp; 43960 |
| &nbsp;&nbsp;&nbsp;Alamo Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1177 | &nbsp;&nbsp;&nbsp;&nbsp; 261977 |
| &nbsp;&nbsp;&nbsp;Albany International Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3522 | &nbsp;&nbsp;&nbsp;&nbsp; 190857 |
| &nbsp;&nbsp;&nbsp;Cactus, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7797 | &nbsp;&nbsp;&nbsp;&nbsp; 329891 |
| &nbsp;&nbsp;&nbsp;Chart Industries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5169 | &nbsp;&nbsp;&nbsp;&nbsp; 1027752 |
| &nbsp;&nbsp;&nbsp;Columbus McKinnon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3152 | &nbsp;&nbsp;&nbsp;&nbsp; 46177 |
| &nbsp;&nbsp;&nbsp;CSW Industrials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1862 | &nbsp;&nbsp;&nbsp;&nbsp; 483152 |
| &nbsp;&nbsp;&nbsp;DXP Enterprises, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1479 | &nbsp;&nbsp;&nbsp;&nbsp; 167512 |
| &nbsp;&nbsp;&nbsp;Eastman Kodak Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6842 | &nbsp;&nbsp;&nbsp;&nbsp; 45841 |
| &nbsp;&nbsp;&nbsp;Gencor Industries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1164 | &nbsp;&nbsp;&nbsp;&nbsp; 16971 |
| &nbsp;&nbsp;&nbsp;Gorman-Rupp Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2371 | &nbsp;&nbsp;&nbsp;&nbsp; 97590 |
| &nbsp;&nbsp;&nbsp;Ichor Holdings, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3790 | &nbsp;&nbsp;&nbsp;&nbsp; 75004 |
| &nbsp;&nbsp;&nbsp;Kadant, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1340 | &nbsp;&nbsp;&nbsp;&nbsp; 445912 |
| &nbsp;&nbsp;&nbsp;Lindsay Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1240 | &nbsp;&nbsp;&nbsp;&nbsp; 169272 |
| &nbsp;&nbsp;&nbsp;Mueller Water Products, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;17744 | &nbsp;&nbsp;&nbsp;&nbsp; 439342 |
| &nbsp;&nbsp;&nbsp;Palladyne AI Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2903 | &nbsp;&nbsp;&nbsp;&nbsp; 23747 |
| &nbsp;&nbsp;&nbsp;Power Solutions International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745 | &nbsp;&nbsp;&nbsp;&nbsp; 69844 |
| &nbsp;&nbsp;&nbsp;Pro-Dex, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp; 12012 |
| &nbsp;&nbsp;&nbsp;Richtech Robotics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7863 | &nbsp;&nbsp;&nbsp;&nbsp; 14940 |
| &nbsp;&nbsp;&nbsp;Tennant Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2123 | &nbsp;&nbsp;&nbsp;&nbsp; 175232 |
| &nbsp;&nbsp;&nbsp;Thermon Group Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3805 | &nbsp;&nbsp;&nbsp;&nbsp; 107605 |
| &nbsp;&nbsp;&nbsp;Watts Water Technologies, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3139 | &nbsp;&nbsp;&nbsp;&nbsp; 823423 |
| &nbsp;&nbsp;&nbsp;Zurn Elkay Water Solutions Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17181 | &nbsp;&nbsp;&nbsp;&nbsp; 760259 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5828272 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Small Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Media — 0.4%** | **Media — 0.4%** | **Media — 0.4%** |
| &nbsp;&nbsp;&nbsp;Altice USA, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;29724 | &nbsp;&nbsp;$77282 |
| &nbsp;&nbsp;&nbsp;AMC Networks, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3742 | &nbsp;&nbsp;&nbsp;&nbsp; 22415 |
| &nbsp;&nbsp;&nbsp;Cable One, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;&nbsp;&nbsp; 81267 |
| &nbsp;&nbsp;&nbsp;CuriosityStream, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3634 | &nbsp;&nbsp;&nbsp;&nbsp; 17625 |
| &nbsp;&nbsp;&nbsp;E.W. Scripps Co., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6936 | &nbsp;&nbsp;&nbsp;&nbsp; 20739 |
| &nbsp;&nbsp;&nbsp;Gannett Co., Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;16057 | &nbsp;&nbsp;&nbsp;&nbsp; 61177 |
| &nbsp;&nbsp;&nbsp;Gray Media, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9679 | &nbsp;&nbsp;&nbsp;&nbsp; 43652 |
| &nbsp;&nbsp;&nbsp;iHeartMedia, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;13618 | &nbsp;&nbsp;&nbsp;&nbsp; 25466 |
| &nbsp;&nbsp;&nbsp;Liberty Latin America, Ltd., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3558 | &nbsp;&nbsp;&nbsp;&nbsp; 25084 |
| &nbsp;&nbsp;&nbsp;Liberty Latin America, Ltd., Class C† | &nbsp;&nbsp;&nbsp;&nbsp;14262 | &nbsp;&nbsp;&nbsp;&nbsp; 101831 |
| &nbsp;&nbsp;&nbsp;Scholastic Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2627 | &nbsp;&nbsp;&nbsp;&nbsp; 64808 |
| &nbsp;&nbsp;&nbsp;Sinclair, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4393 | &nbsp;&nbsp;&nbsp;&nbsp; 63523 |
| &nbsp;&nbsp;&nbsp;Sphere Entertainment Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3176 | &nbsp;&nbsp;&nbsp;&nbsp; 136727 |
| &nbsp;&nbsp;&nbsp;TEGNA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18412 | &nbsp;&nbsp;&nbsp;&nbsp; 307481 |
| &nbsp;&nbsp;&nbsp;Thryv Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4383 | &nbsp;&nbsp;&nbsp;&nbsp; 57680 |
| &nbsp;&nbsp;&nbsp;Value Line, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp;&nbsp;&nbsp; 4085 |
| &nbsp;&nbsp;&nbsp;WideOpenWest, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5701 | &nbsp;&nbsp;&nbsp;&nbsp; 19212 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1130054 |
| **Metal Fabricate/Hardware — 0.7%** | **Metal Fabricate/Hardware — 0.7%** | **Metal Fabricate/Hardware — 0.7%** |
| &nbsp;&nbsp;&nbsp;Ascent Industries Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904 | &nbsp;&nbsp;&nbsp;&nbsp; 11598 |
| &nbsp;&nbsp;&nbsp;AZZ, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3377 | &nbsp;&nbsp;&nbsp;&nbsp; 369781 |
| &nbsp;&nbsp;&nbsp;Eastern Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;653 | &nbsp;&nbsp;&nbsp;&nbsp; 15052 |
| &nbsp;&nbsp;&nbsp;Helios Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3753 | &nbsp;&nbsp;&nbsp;&nbsp; 137698 |
| &nbsp;&nbsp;&nbsp;Hillman Solutions Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;22527 | &nbsp;&nbsp;&nbsp;&nbsp; 177738 |
| &nbsp;&nbsp;&nbsp;Janus International Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;15750 | &nbsp;&nbsp;&nbsp;&nbsp; 134977 |
| &nbsp;&nbsp;&nbsp;L.B. Foster Co., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1167 | &nbsp;&nbsp;&nbsp;&nbsp; 27424 |
| &nbsp;&nbsp;&nbsp;Mayville Engineering Co., Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1552 | &nbsp;&nbsp;&nbsp;&nbsp; 26027 |
| &nbsp;&nbsp;&nbsp;Metallus, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4715 | &nbsp;&nbsp;&nbsp;&nbsp; 74497 |
| &nbsp;&nbsp;&nbsp;Olympic Steel, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1116 | &nbsp;&nbsp;&nbsp;&nbsp; 34708 |
| &nbsp;&nbsp;&nbsp;Omega Flex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401 | &nbsp;&nbsp;&nbsp;&nbsp; 12792 |
| &nbsp;&nbsp;&nbsp;Park-Ohio Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037 | &nbsp;&nbsp;&nbsp;&nbsp; 17007 |
| &nbsp;&nbsp;&nbsp;Proto Labs, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2811 | &nbsp;&nbsp;&nbsp;&nbsp; 121210 |
| &nbsp;&nbsp;&nbsp;Ryerson Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3049 | &nbsp;&nbsp;&nbsp;&nbsp; 62809 |
| &nbsp;&nbsp;&nbsp;Standex International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1348 | &nbsp;&nbsp;&nbsp;&nbsp; 222070 |
| &nbsp;&nbsp;&nbsp;Tredegar Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3035 | &nbsp;&nbsp;&nbsp;&nbsp; 26435 |
| &nbsp;&nbsp;&nbsp;Worthington Enterprises, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3594 | &nbsp;&nbsp;&nbsp;&nbsp; 222720 |
| &nbsp;&nbsp;&nbsp;Worthington Steel, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3843 | &nbsp;&nbsp;&nbsp;&nbsp; 117288 |
| &nbsp;&nbsp;&nbsp;Xometry, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4928 | &nbsp;&nbsp;&nbsp;&nbsp; 159372 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1971203 |
| **Mining — 1.3%** | **Mining — 1.3%** | **Mining — 1.3%** |
| &nbsp;&nbsp;&nbsp;American Battery Technology Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9224 | &nbsp;&nbsp;&nbsp;&nbsp; 20016 |
| &nbsp;&nbsp;&nbsp;Caledonia Mining Corp. PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp; 36623 |
| &nbsp;&nbsp;&nbsp;Centrus Energy Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1681 | &nbsp;&nbsp;&nbsp;&nbsp; 362087 |
| &nbsp;&nbsp;&nbsp;Century Aluminum Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5933 | &nbsp;&nbsp;&nbsp;&nbsp; 125661 |
| &nbsp;&nbsp;&nbsp;Coeur Mining, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;73170 | &nbsp;&nbsp;&nbsp;&nbsp; 635847 |
| &nbsp;&nbsp;&nbsp;Compass Minerals International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3952 | &nbsp;&nbsp;&nbsp;&nbsp; 78763 |
| &nbsp;&nbsp;&nbsp;Constellium SE† | &nbsp;&nbsp;&nbsp;&nbsp;16186 | &nbsp;&nbsp;&nbsp;&nbsp; 221910 |
| &nbsp;&nbsp;&nbsp;Contango ORE, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1180 | &nbsp;&nbsp;&nbsp;&nbsp; 21995 |
| &nbsp;&nbsp;&nbsp;Critical Metals Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3677 | &nbsp;&nbsp;&nbsp;&nbsp; 13862 |
| &nbsp;&nbsp;&nbsp;Dakota Gold Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9786 | &nbsp;&nbsp;&nbsp;&nbsp; 35230 |
| &nbsp;&nbsp;&nbsp;Encore Energy Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;20539 | &nbsp;&nbsp;&nbsp;&nbsp; 54223 |
| &nbsp;&nbsp;&nbsp;Energy Fuels, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;23681 | &nbsp;&nbsp;&nbsp;&nbsp; 215260 |
| &nbsp;&nbsp;&nbsp;Ferroglobe PLC | &nbsp;&nbsp;&nbsp;&nbsp;13592 | &nbsp;&nbsp;&nbsp;&nbsp; 57494 |
| &nbsp;&nbsp;&nbsp;Hecla Mining Co. | &nbsp;&nbsp;&nbsp;&nbsp;68251 | &nbsp;&nbsp;&nbsp;&nbsp; 391761 |
| &nbsp;&nbsp;&nbsp;Idaho Strategic Resources, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1427 | &nbsp;&nbsp;&nbsp;&nbsp; 23403 |
| &nbsp;&nbsp;&nbsp;Ivanhoe Electric, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9800 | &nbsp;&nbsp;&nbsp;&nbsp; 93688 |
| &nbsp;&nbsp;&nbsp;Kaiser Aluminum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1837 | &nbsp;&nbsp;&nbsp;&nbsp; 142019 |
| &nbsp;&nbsp;&nbsp;Lifezone Metals, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4910 | &nbsp;&nbsp;&nbsp;&nbsp; 21653 |
| &nbsp;&nbsp;&nbsp;MAC Copper, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8115 | &nbsp;&nbsp;&nbsp;&nbsp; 97624 |
| &nbsp;&nbsp;&nbsp;NioCorp Developments, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5890 | &nbsp;&nbsp;&nbsp;&nbsp; 16610 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Mining (continued)** | **Mining (continued)** | **Mining (continued)** |
| &nbsp;&nbsp;&nbsp;Novagold Resources, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;28469 | &nbsp;&nbsp;$147754 |
| &nbsp;&nbsp;&nbsp;Perpetua Resources Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5258 | &nbsp;&nbsp;&nbsp;&nbsp; 79396 |
| &nbsp;&nbsp;&nbsp;Piedmont Lithium, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2175 | &nbsp;&nbsp;&nbsp;&nbsp; 15878 |
| &nbsp;&nbsp;&nbsp;SSR Mining, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;23402 | &nbsp;&nbsp;&nbsp;&nbsp; 279654 |
| &nbsp;&nbsp;&nbsp;United States Antimony Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;10414 | &nbsp;&nbsp;&nbsp;&nbsp; 31867 |
| &nbsp;&nbsp;&nbsp;United States Lime & Minerals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1217 | &nbsp;&nbsp;&nbsp;&nbsp; 121189 |
| &nbsp;&nbsp;&nbsp;Uranium Energy Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;48412 | &nbsp;&nbsp;&nbsp;&nbsp; 419732 |
| &nbsp;&nbsp;&nbsp;US Gold Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1252 | &nbsp;&nbsp;&nbsp;&nbsp; 12795 |
| &nbsp;&nbsp;&nbsp;Vox Royalty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4560 | &nbsp;&nbsp;&nbsp;&nbsp; 14455 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3788449 |
| **Miscellaneous Manufacturing — 1.5%** | **Miscellaneous Manufacturing — 1.5%** | **Miscellaneous Manufacturing — 1.5%** |
| &nbsp;&nbsp;&nbsp;Byrna Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2068 | &nbsp;&nbsp;&nbsp;&nbsp; 45930 |
| &nbsp;&nbsp;&nbsp;Core Molding Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919 | &nbsp;&nbsp;&nbsp;&nbsp; 15292 |
| &nbsp;&nbsp;&nbsp;Enpro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2415 | &nbsp;&nbsp;&nbsp;&nbsp; 512970 |
| &nbsp;&nbsp;&nbsp;Fabrinet† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4128 | &nbsp;&nbsp;&nbsp;&nbsp; 1336357 |
| &nbsp;&nbsp;&nbsp;Federal Signal Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6864 | &nbsp;&nbsp;&nbsp;&nbsp; 868777 |
| &nbsp;&nbsp;&nbsp;Hillenbrand, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp; 167751 |
| &nbsp;&nbsp;&nbsp;JBT Marel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5969 | &nbsp;&nbsp;&nbsp;&nbsp; 822528 |
| &nbsp;&nbsp;&nbsp;LSB Industries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6032 | &nbsp;&nbsp;&nbsp;&nbsp; 46627 |
| &nbsp;&nbsp;&nbsp;Materion Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2364 | &nbsp;&nbsp;&nbsp;&nbsp; 248929 |
| &nbsp;&nbsp;&nbsp;Myers Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4384 | &nbsp;&nbsp;&nbsp;&nbsp; 64226 |
| &nbsp;&nbsp;&nbsp;NL Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1151 | &nbsp;&nbsp;&nbsp;&nbsp; 7102 |
| &nbsp;&nbsp;&nbsp;Outdoor Holding Co.† | &nbsp;&nbsp;&nbsp;&nbsp;10304 | &nbsp;&nbsp;&nbsp;&nbsp; 12159 |
| &nbsp;&nbsp;&nbsp;Park Aerospace Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2076 | &nbsp;&nbsp;&nbsp;&nbsp; 37410 |
| &nbsp;&nbsp;&nbsp;Sight Sciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4696 | &nbsp;&nbsp;&nbsp;&nbsp; 15638 |
| &nbsp;&nbsp;&nbsp;Smith & Wesson Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4981 | &nbsp;&nbsp;&nbsp;&nbsp; 39599 |
| &nbsp;&nbsp;&nbsp;Sturm Ruger & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1858 | &nbsp;&nbsp;&nbsp;&nbsp; 63469 |
| &nbsp;&nbsp;&nbsp;Trinity Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9354 | &nbsp;&nbsp;&nbsp;&nbsp; 217948 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4522712 |
| **Multi-National — 0.0%** | **Multi-National — 0.0%** | **Multi-National — 0.0%** |
| &nbsp;&nbsp;&nbsp;Banco Latinoamericano de Comercio Exterior SA, Class E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3310 | &nbsp;&nbsp;&nbsp;&nbsp; 132268 |
| **Office Furnishings — 0.2%** | **Office Furnishings — 0.2%** | **Office Furnishings — 0.2%** |
| &nbsp;&nbsp;&nbsp;CompX International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173 | &nbsp;&nbsp;&nbsp;&nbsp; 4031 |
| &nbsp;&nbsp;&nbsp;HNI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5371 | &nbsp;&nbsp;&nbsp;&nbsp; 276284 |
| &nbsp;&nbsp;&nbsp;Interface, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6624 | &nbsp;&nbsp;&nbsp;&nbsp; 136587 |
| &nbsp;&nbsp;&nbsp;Steelcase, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;10471 | &nbsp;&nbsp;&nbsp;&nbsp; 108165 |
| &nbsp;&nbsp;&nbsp;Virco Mfg. Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1275 | &nbsp;&nbsp;&nbsp;&nbsp; 9869 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534936 |
| **Office/Business Equipment — 0.1%** | **Office/Business Equipment — 0.1%** | **Office/Business Equipment — 0.1%** |
| &nbsp;&nbsp;&nbsp;Pitney Bowes, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12968 | &nbsp;&nbsp;&nbsp;&nbsp; 147316 |
| &nbsp;&nbsp;&nbsp;Xerox Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13160 | &nbsp;&nbsp;&nbsp;&nbsp; 53298 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200614 |
| **Oil & Gas — 2.3%** | **Oil & Gas — 2.3%** | **Oil & Gas — 2.3%** |
| &nbsp;&nbsp;&nbsp;Berry Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8665 | &nbsp;&nbsp;&nbsp;&nbsp; 26168 |
| &nbsp;&nbsp;&nbsp;BKV Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1905 | &nbsp;&nbsp;&nbsp;&nbsp; 39319 |
| &nbsp;&nbsp;&nbsp;Borr Drilling, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;26012 | &nbsp;&nbsp;&nbsp;&nbsp; 52804 |
| &nbsp;&nbsp;&nbsp;California Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7433 | &nbsp;&nbsp;&nbsp;&nbsp; 358122 |
| &nbsp;&nbsp;&nbsp;CNX Resources Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;16508 | &nbsp;&nbsp;&nbsp;&nbsp; 500358 |
| &nbsp;&nbsp;&nbsp;Comstock Resources, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8426 | &nbsp;&nbsp;&nbsp;&nbsp; 150573 |
| &nbsp;&nbsp;&nbsp;Crescent Energy Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;20346 | &nbsp;&nbsp;&nbsp;&nbsp; 187997 |
| &nbsp;&nbsp;&nbsp;CVR Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3865 | &nbsp;&nbsp;&nbsp;&nbsp; 103505 |
| &nbsp;&nbsp;&nbsp;Delek US Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7080 | &nbsp;&nbsp;&nbsp;&nbsp; 158380 |
| &nbsp;&nbsp;&nbsp;Diversified Energy Co. PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6252 | &nbsp;&nbsp;&nbsp;&nbsp; 94155 |
| &nbsp;&nbsp;&nbsp;Empire Petroleum Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1951 | &nbsp;&nbsp;&nbsp;&nbsp; 8819 |
| &nbsp;&nbsp;&nbsp;Epsilon Energy, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2189 | &nbsp;&nbsp;&nbsp;&nbsp; 13681 |
| &nbsp;&nbsp;&nbsp;Evolution Petroleum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3468 | &nbsp;&nbsp;&nbsp;&nbsp; 16750 |
| &nbsp;&nbsp;&nbsp;Granite Ridge Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5956 | &nbsp;&nbsp;&nbsp;&nbsp; 30912 |
| &nbsp;&nbsp;&nbsp;Gulfport Energy Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1732 | &nbsp;&nbsp;&nbsp;&nbsp; 301593 |
| &nbsp;&nbsp;&nbsp;Helmerich & Payne, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11145 | &nbsp;&nbsp;&nbsp;&nbsp; 180661 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Small Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| &nbsp;&nbsp;&nbsp;HighPeak Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1766 | &nbsp;&nbsp;$17607 |
| &nbsp;&nbsp;&nbsp;Infinity Natural Resources, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1675 | &nbsp;&nbsp;&nbsp;&nbsp; 24974 |
| &nbsp;&nbsp;&nbsp;Kolibri Global Energy, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4010 | &nbsp;&nbsp;&nbsp;&nbsp; 24621 |
| &nbsp;&nbsp;&nbsp;Kosmos Energy, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;54188 | &nbsp;&nbsp;&nbsp;&nbsp; 116504 |
| &nbsp;&nbsp;&nbsp;Magnolia Oil & Gas Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;21193 | &nbsp;&nbsp;&nbsp;&nbsp; 504817 |
| &nbsp;&nbsp;&nbsp;Murphy Oil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;15685 | &nbsp;&nbsp;&nbsp;&nbsp; 389145 |
| &nbsp;&nbsp;&nbsp;Nabors Industries, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1608 | &nbsp;&nbsp;&nbsp;&nbsp; 55926 |
| &nbsp;&nbsp;&nbsp;NextNRG, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1993 | &nbsp;&nbsp;&nbsp;&nbsp; 2651 |
| &nbsp;&nbsp;&nbsp;Noble Corp. PLC | &nbsp;&nbsp;&nbsp;&nbsp;14366 | &nbsp;&nbsp;&nbsp;&nbsp; 385153 |
| &nbsp;&nbsp;&nbsp;Northern Oil & Gas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10620 | &nbsp;&nbsp;&nbsp;&nbsp; 299059 |
| &nbsp;&nbsp;&nbsp;Par Pacific Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6112 | &nbsp;&nbsp;&nbsp;&nbsp; 191795 |
| &nbsp;&nbsp;&nbsp;Patterson-UTI Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40175 | &nbsp;&nbsp;&nbsp;&nbsp; 237434 |
| &nbsp;&nbsp;&nbsp;PBF Energy, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9534 | &nbsp;&nbsp;&nbsp;&nbsp; 215468 |
| &nbsp;&nbsp;&nbsp;Prairie Operating Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2456 | &nbsp;&nbsp;&nbsp;&nbsp; 7589 |
| &nbsp;&nbsp;&nbsp;PrimeEnergy Resources Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83 | &nbsp;&nbsp;&nbsp;&nbsp; 13991 |
| &nbsp;&nbsp;&nbsp;Riley Exploration Permian, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1499 | &nbsp;&nbsp;&nbsp;&nbsp; 39334 |
| &nbsp;&nbsp;&nbsp;Sable Offshore Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7778 | &nbsp;&nbsp;&nbsp;&nbsp; 238551 |
| &nbsp;&nbsp;&nbsp;SandRidge Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3871 | &nbsp;&nbsp;&nbsp;&nbsp; 40220 |
| &nbsp;&nbsp;&nbsp;Seadrill, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7384 | &nbsp;&nbsp;&nbsp;&nbsp; 215317 |
| &nbsp;&nbsp;&nbsp;Sitio Royalties Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8881 | &nbsp;&nbsp;&nbsp;&nbsp; 161368 |
| &nbsp;&nbsp;&nbsp;SM Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp;12944 | &nbsp;&nbsp;&nbsp;&nbsp; 357125 |
| &nbsp;&nbsp;&nbsp;Talos Energy, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13692 | &nbsp;&nbsp;&nbsp;&nbsp; 117067 |
| &nbsp;&nbsp;&nbsp;Transocean, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;84745 | &nbsp;&nbsp;&nbsp;&nbsp; 247455 |
| &nbsp;&nbsp;&nbsp;VAALCO Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12446 | &nbsp;&nbsp;&nbsp;&nbsp; 46299 |
| &nbsp;&nbsp;&nbsp;Valaris, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7248 | &nbsp;&nbsp;&nbsp;&nbsp; 352470 |
| &nbsp;&nbsp;&nbsp;Vital Energy, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3342 | &nbsp;&nbsp;&nbsp;&nbsp; 62462 |
| &nbsp;&nbsp;&nbsp;Vitesse Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3353 | &nbsp;&nbsp;&nbsp;&nbsp; 80237 |
| &nbsp;&nbsp;&nbsp;W&T Offshore, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11605 | &nbsp;&nbsp;&nbsp;&nbsp; 20541 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6688977 |
| **Oil & Gas Services — 1.0%** | **Oil & Gas Services — 1.0%** | **Oil & Gas Services — 1.0%** |
| &nbsp;&nbsp;&nbsp;Archrock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18879 | &nbsp;&nbsp;&nbsp;&nbsp; 441014 |
| &nbsp;&nbsp;&nbsp;Aris Water Solutions, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3511 | &nbsp;&nbsp;&nbsp;&nbsp; 74679 |
| &nbsp;&nbsp;&nbsp;Atlas Energy Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8867 | &nbsp;&nbsp;&nbsp;&nbsp; 115271 |
| &nbsp;&nbsp;&nbsp;Bristow Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3235 | &nbsp;&nbsp;&nbsp;&nbsp; 111834 |
| &nbsp;&nbsp;&nbsp;Core Laboratories, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5283 | &nbsp;&nbsp;&nbsp;&nbsp; 57796 |
| &nbsp;&nbsp;&nbsp;DMC Global, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2437 | &nbsp;&nbsp;&nbsp;&nbsp; 19715 |
| &nbsp;&nbsp;&nbsp;DNOW, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12256 | &nbsp;&nbsp;&nbsp;&nbsp; 190703 |
| &nbsp;&nbsp;&nbsp;Expro Group Holdings NV† | &nbsp;&nbsp;&nbsp;&nbsp;11741 | &nbsp;&nbsp;&nbsp;&nbsp; 126568 |
| &nbsp;&nbsp;&nbsp;Flotek Industries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1620 | &nbsp;&nbsp;&nbsp;&nbsp; 19521 |
| &nbsp;&nbsp;&nbsp;Flowco Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2092 | &nbsp;&nbsp;&nbsp;&nbsp; 39120 |
| &nbsp;&nbsp;&nbsp;Forum Energy Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1327 | &nbsp;&nbsp;&nbsp;&nbsp; 26155 |
| &nbsp;&nbsp;&nbsp;Helix Energy Solutions Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;16405 | &nbsp;&nbsp;&nbsp;&nbsp; 97282 |
| &nbsp;&nbsp;&nbsp;Innovex International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4409 | &nbsp;&nbsp;&nbsp;&nbsp; 72396 |
| &nbsp;&nbsp;&nbsp;Kodiak Gas Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6137 | &nbsp;&nbsp;&nbsp;&nbsp; 198409 |
| &nbsp;&nbsp;&nbsp;Liberty Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17910 | &nbsp;&nbsp;&nbsp;&nbsp; 221009 |
| &nbsp;&nbsp;&nbsp;Mammoth Energy Services, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2749 | &nbsp;&nbsp;&nbsp;&nbsp; 7147 |
| &nbsp;&nbsp;&nbsp;Matrix Service Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3044 | &nbsp;&nbsp;&nbsp;&nbsp; 46512 |
| &nbsp;&nbsp;&nbsp;National Energy Services Reunited Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6935 | &nbsp;&nbsp;&nbsp;&nbsp; 46257 |
| &nbsp;&nbsp;&nbsp;Natural Gas Services Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1213 | &nbsp;&nbsp;&nbsp;&nbsp; 29221 |
| &nbsp;&nbsp;&nbsp;Oceaneering International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10690 | &nbsp;&nbsp;&nbsp;&nbsp; 231973 |
| &nbsp;&nbsp;&nbsp;Oil States International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6697 | &nbsp;&nbsp;&nbsp;&nbsp; 33418 |
| &nbsp;&nbsp;&nbsp;ProFrac Holding Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2714 | &nbsp;&nbsp;&nbsp;&nbsp; 19052 |
| &nbsp;&nbsp;&nbsp;ProPetro Holding Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;10079 | &nbsp;&nbsp;&nbsp;&nbsp; 54024 |
| &nbsp;&nbsp;&nbsp;Ranger Energy Services, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1877 | &nbsp;&nbsp;&nbsp;&nbsp; 25133 |
| &nbsp;&nbsp;&nbsp;RPC, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10210 | &nbsp;&nbsp;&nbsp;&nbsp; 47477 |
| &nbsp;&nbsp;&nbsp;SEACOR Marine Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2759 | &nbsp;&nbsp;&nbsp;&nbsp; 13795 |
| &nbsp;&nbsp;&nbsp;Select Water Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10661 | &nbsp;&nbsp;&nbsp;&nbsp; 102665 |
| &nbsp;&nbsp;&nbsp;Solaris Energy Infrastructure, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4147 | &nbsp;&nbsp;&nbsp;&nbsp; 135483 |
| &nbsp;&nbsp;&nbsp;TETRA Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14511 | &nbsp;&nbsp;&nbsp;&nbsp; 59495 |
| &nbsp;&nbsp;&nbsp;Tidewater, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5816 | &nbsp;&nbsp;&nbsp;&nbsp; 290858 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2953982 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** |
| &nbsp;&nbsp;&nbsp;Ardagh Metal Packaging SA | &nbsp;&nbsp;&nbsp;&nbsp;16708 | &nbsp;&nbsp;$66164 |
| &nbsp;&nbsp;&nbsp;Clearwater Paper Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1836 | &nbsp;&nbsp;&nbsp;&nbsp; 41420 |
| &nbsp;&nbsp;&nbsp;Greif, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2895 | &nbsp;&nbsp;&nbsp;&nbsp; 183630 |
| &nbsp;&nbsp;&nbsp;Greif, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528 | &nbsp;&nbsp;&nbsp;&nbsp; 34663 |
| &nbsp;&nbsp;&nbsp;Karat Packaging, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;801 | &nbsp;&nbsp;&nbsp;&nbsp; 21811 |
| &nbsp;&nbsp;&nbsp;O-I Glass, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;17606 | &nbsp;&nbsp;&nbsp;&nbsp; 229054 |
| &nbsp;&nbsp;&nbsp;Ranpak Holdings Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5137 | &nbsp;&nbsp;&nbsp;&nbsp; 18750 |
| &nbsp;&nbsp;&nbsp;TriMas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3777 | &nbsp;&nbsp;&nbsp;&nbsp; 134952 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730444 |
| **Pharmaceuticals — 2.6%** | **Pharmaceuticals — 2.6%** | **Pharmaceuticals — 2.6%** |
| &nbsp;&nbsp;&nbsp;Aclaris Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10320 | &nbsp;&nbsp;&nbsp;&nbsp; 15790 |
| &nbsp;&nbsp;&nbsp;Actuate Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672 | &nbsp;&nbsp;&nbsp;&nbsp; 4872 |
| &nbsp;&nbsp;&nbsp;AdaptHealth Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;11445 | &nbsp;&nbsp;&nbsp;&nbsp; 102662 |
| &nbsp;&nbsp;&nbsp;Aduro Biotech Holding, Inc. CVR†(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1482 | &nbsp;&nbsp;&nbsp;&nbsp; 356 |
| &nbsp;&nbsp;&nbsp;Agios Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6450 | &nbsp;&nbsp;&nbsp;&nbsp; 240069 |
| &nbsp;&nbsp;&nbsp;Akebia Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;28423 | &nbsp;&nbsp;&nbsp;&nbsp; 104739 |
| &nbsp;&nbsp;&nbsp;Alector, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8009 | &nbsp;&nbsp;&nbsp;&nbsp; 11933 |
| &nbsp;&nbsp;&nbsp;Alkermes PLC† | &nbsp;&nbsp;&nbsp;&nbsp;18447 | &nbsp;&nbsp;&nbsp;&nbsp; 488661 |
| &nbsp;&nbsp;&nbsp;Amneal Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;17108 | &nbsp;&nbsp;&nbsp;&nbsp; 133785 |
| &nbsp;&nbsp;&nbsp;Amphastar Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4441 | &nbsp;&nbsp;&nbsp;&nbsp; 93039 |
| &nbsp;&nbsp;&nbsp;Amylyx Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7885 | &nbsp;&nbsp;&nbsp;&nbsp; 63317 |
| &nbsp;&nbsp;&nbsp;Anika Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1467 | &nbsp;&nbsp;&nbsp;&nbsp; 12110 |
| &nbsp;&nbsp;&nbsp;Aquestive Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9782 | &nbsp;&nbsp;&nbsp;&nbsp; 37563 |
| &nbsp;&nbsp;&nbsp;Arvinas, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7493 | &nbsp;&nbsp;&nbsp;&nbsp; 55748 |
| &nbsp;&nbsp;&nbsp;aTyr Pharma, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9889 | &nbsp;&nbsp;&nbsp;&nbsp; 46676 |
| &nbsp;&nbsp;&nbsp;Avadel Pharmaceuticals PLC† | &nbsp;&nbsp;&nbsp;&nbsp;10589 | &nbsp;&nbsp;&nbsp;&nbsp; 111290 |
| &nbsp;&nbsp;&nbsp;Biote Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3045 | &nbsp;&nbsp;&nbsp;&nbsp; 12393 |
| &nbsp;&nbsp;&nbsp;Catalyst Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13162 | &nbsp;&nbsp;&nbsp;&nbsp; 280745 |
| &nbsp;&nbsp;&nbsp;Cidara Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1912 | &nbsp;&nbsp;&nbsp;&nbsp; 121049 |
| &nbsp;&nbsp;&nbsp;Coherus Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9982 | &nbsp;&nbsp;&nbsp;&nbsp; 9385 |
| &nbsp;&nbsp;&nbsp;Collegium Pharmaceutical, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3660 | &nbsp;&nbsp;&nbsp;&nbsp; 109288 |
| &nbsp;&nbsp;&nbsp;CorMedix, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7128 | &nbsp;&nbsp;&nbsp;&nbsp; 83184 |
| &nbsp;&nbsp;&nbsp;Corvus Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5955 | &nbsp;&nbsp;&nbsp;&nbsp; 24832 |
| &nbsp;&nbsp;&nbsp;Enanta Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1949 | &nbsp;&nbsp;&nbsp;&nbsp; 14773 |
| &nbsp;&nbsp;&nbsp;Enliven Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4261 | &nbsp;&nbsp;&nbsp;&nbsp; 80149 |
| &nbsp;&nbsp;&nbsp;Eton Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2915 | &nbsp;&nbsp;&nbsp;&nbsp; 41276 |
| &nbsp;&nbsp;&nbsp;Fennec Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2693 | &nbsp;&nbsp;&nbsp;&nbsp; 22029 |
| &nbsp;&nbsp;&nbsp;FitLife Brands, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444 | &nbsp;&nbsp;&nbsp;&nbsp; 5550 |
| &nbsp;&nbsp;&nbsp;Foghorn Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3269 | &nbsp;&nbsp;&nbsp;&nbsp; 17162 |
| &nbsp;&nbsp;&nbsp;Fulcrum Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6155 | &nbsp;&nbsp;&nbsp;&nbsp; 41423 |
| &nbsp;&nbsp;&nbsp;Guardian Pharmacy Services, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1450 | &nbsp;&nbsp;&nbsp;&nbsp; 30305 |
| &nbsp;&nbsp;&nbsp;Gyre Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1550 | &nbsp;&nbsp;&nbsp;&nbsp; 10927 |
| &nbsp;&nbsp;&nbsp;Harmony Biosciences Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4973 | &nbsp;&nbsp;&nbsp;&nbsp; 174950 |
| &nbsp;&nbsp;&nbsp;Harrow, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3525 | &nbsp;&nbsp;&nbsp;&nbsp; 111954 |
| &nbsp;&nbsp;&nbsp;Herbalife, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;11344 | &nbsp;&nbsp;&nbsp;&nbsp; 104365 |
| &nbsp;&nbsp;&nbsp;Heron Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;17391 | &nbsp;&nbsp;&nbsp;&nbsp; 30086 |
| &nbsp;&nbsp;&nbsp;Indivior PLC† | &nbsp;&nbsp;&nbsp;&nbsp;13793 | &nbsp;&nbsp;&nbsp;&nbsp; 278619 |
| &nbsp;&nbsp;&nbsp;Inhibikase Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6875 | &nbsp;&nbsp;&nbsp;&nbsp; 10862 |
| &nbsp;&nbsp;&nbsp;Ironwood Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;18272 | &nbsp;&nbsp;&nbsp;&nbsp; 13960 |
| &nbsp;&nbsp;&nbsp;Journey Medical Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1380 | &nbsp;&nbsp;&nbsp;&nbsp; 10143 |
| &nbsp;&nbsp;&nbsp;KalVista Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4536 | &nbsp;&nbsp;&nbsp;&nbsp; 61826 |
| &nbsp;&nbsp;&nbsp;Lifevantage Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1203 | &nbsp;&nbsp;&nbsp;&nbsp; 15098 |
| &nbsp;&nbsp;&nbsp;Madrigal Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1929 | &nbsp;&nbsp;&nbsp;&nbsp; 583542 |
| &nbsp;&nbsp;&nbsp;MannKind Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;34423 | &nbsp;&nbsp;&nbsp;&nbsp; 130119 |
| &nbsp;&nbsp;&nbsp;Maze Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013 | &nbsp;&nbsp;&nbsp;&nbsp; 14942 |
| &nbsp;&nbsp;&nbsp;MediWound, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1053 | &nbsp;&nbsp;&nbsp;&nbsp; 19628 |
| &nbsp;&nbsp;&nbsp;Mirum Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4943 | &nbsp;&nbsp;&nbsp;&nbsp; 255454 |
| &nbsp;&nbsp;&nbsp;Nature's Sunshine Products, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1669 | &nbsp;&nbsp;&nbsp;&nbsp; 23383 |
| &nbsp;&nbsp;&nbsp;Neurogene, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1379 | &nbsp;&nbsp;&nbsp;&nbsp; 30021 |
| &nbsp;&nbsp;&nbsp;Nuvectis Pharma, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1464 | &nbsp;&nbsp;&nbsp;&nbsp; 10189 |
| &nbsp;&nbsp;&nbsp;Ocular Therapeutix, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;15982 | &nbsp;&nbsp;&nbsp;&nbsp; 185072 |
| &nbsp;&nbsp;&nbsp;Option Care Health, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;18740 | &nbsp;&nbsp;&nbsp;&nbsp; 550019 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Small Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| &nbsp;&nbsp;&nbsp;ORIC Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5101 | &nbsp;&nbsp;$50857 |
| &nbsp;&nbsp;&nbsp;Owens & Minor, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8454 | &nbsp;&nbsp;&nbsp;&nbsp; 58586 |
| &nbsp;&nbsp;&nbsp;Pacira BioSciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5127 | &nbsp;&nbsp;&nbsp;&nbsp; 108128 |
| &nbsp;&nbsp;&nbsp;Phibro Animal Health Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2310 | &nbsp;&nbsp;&nbsp;&nbsp; 61215 |
| &nbsp;&nbsp;&nbsp;Premier, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;10400 | &nbsp;&nbsp;&nbsp;&nbsp; 223392 |
| &nbsp;&nbsp;&nbsp;Protagonist Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6675 | &nbsp;&nbsp;&nbsp;&nbsp; 359515 |
| &nbsp;&nbsp;&nbsp;Rhythm Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6199 | &nbsp;&nbsp;&nbsp;&nbsp; 528341 |
| &nbsp;&nbsp;&nbsp;Scpharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4456 | &nbsp;&nbsp;&nbsp;&nbsp; 22636 |
| &nbsp;&nbsp;&nbsp;SELLAS Life Sciences Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10850 | &nbsp;&nbsp;&nbsp;&nbsp; 17251 |
| &nbsp;&nbsp;&nbsp;SIGA Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4833 | &nbsp;&nbsp;&nbsp;&nbsp; 31946 |
| &nbsp;&nbsp;&nbsp;Sionna Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1402 | &nbsp;&nbsp;&nbsp;&nbsp; 23498 |
| &nbsp;&nbsp;&nbsp;Spyre Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5670 | &nbsp;&nbsp;&nbsp;&nbsp; 96220 |
| &nbsp;&nbsp;&nbsp;Supernus Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6134 | &nbsp;&nbsp;&nbsp;&nbsp; 215303 |
| &nbsp;&nbsp;&nbsp;Tonix Pharmaceuticals Holding Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860 | &nbsp;&nbsp;&nbsp;&nbsp; 32405 |
| &nbsp;&nbsp;&nbsp;Trevi Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8214 | &nbsp;&nbsp;&nbsp;&nbsp; 60825 |
| &nbsp;&nbsp;&nbsp;TuHURA Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2920 | &nbsp;&nbsp;&nbsp;&nbsp; 7242 |
| &nbsp;&nbsp;&nbsp;USANA Health Sciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1290 | &nbsp;&nbsp;&nbsp;&nbsp; 37913 |
| &nbsp;&nbsp;&nbsp;Vanda Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5946 | &nbsp;&nbsp;&nbsp;&nbsp; 25330 |
| &nbsp;&nbsp;&nbsp;Vaxcyte, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14300 | &nbsp;&nbsp;&nbsp;&nbsp; 485485 |
| &nbsp;&nbsp;&nbsp;Voyager Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4416 | &nbsp;&nbsp;&nbsp;&nbsp; 14087 |
| &nbsp;&nbsp;&nbsp;Xeris Biopharma Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;16565 | &nbsp;&nbsp;&nbsp;&nbsp; 84316 |
| &nbsp;&nbsp;&nbsp;Y-mAbs Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3663 | &nbsp;&nbsp;&nbsp;&nbsp; 16374 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7602177 |
| **Pipelines — 0.3%** | **Pipelines — 0.3%** | **Pipelines — 0.3%** |
| &nbsp;&nbsp;&nbsp;Excelerate Energy, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2619 | &nbsp;&nbsp;&nbsp;&nbsp; 67203 |
| &nbsp;&nbsp;&nbsp;Golar LNG, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;11368 | &nbsp;&nbsp;&nbsp;&nbsp; 467907 |
| &nbsp;&nbsp;&nbsp;Kinetik Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5040 | &nbsp;&nbsp;&nbsp;&nbsp; 218635 |
| &nbsp;&nbsp;&nbsp;New Fortress Energy, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;19234 | &nbsp;&nbsp;&nbsp;&nbsp; 52413 |
| &nbsp;&nbsp;&nbsp;NextDecade Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;15213 | &nbsp;&nbsp;&nbsp;&nbsp; 172820 |
| &nbsp;&nbsp;&nbsp;Summit Midstream Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1125 | &nbsp;&nbsp;&nbsp;&nbsp; 28665 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007643 |
| **Private Equity — 0.1%** | **Private Equity — 0.1%** | **Private Equity — 0.1%** |
| &nbsp;&nbsp;&nbsp;Chicago Atlantic Real Estate Finance, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1965 | &nbsp;&nbsp;&nbsp;&nbsp; 25525 |
| &nbsp;&nbsp;&nbsp;P10, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6185 | &nbsp;&nbsp;&nbsp;&nbsp; 76075 |
| &nbsp;&nbsp;&nbsp;Patria Investments, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6868 | &nbsp;&nbsp;&nbsp;&nbsp; 95809 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197409 |
| **Real Estate — 0.6%** | **Real Estate — 0.6%** | **Real Estate — 0.6%** |
| &nbsp;&nbsp;&nbsp;American Realty Investors, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213 | &nbsp;&nbsp;&nbsp;&nbsp; 2673 |
| &nbsp;&nbsp;&nbsp;Anywhere Real Estate, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12032 | &nbsp;&nbsp;&nbsp;&nbsp; 55588 |
| &nbsp;&nbsp;&nbsp;Compass, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;52292 | &nbsp;&nbsp;&nbsp;&nbsp; 415199 |
| &nbsp;&nbsp;&nbsp;Douglas Elliman, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8337 | &nbsp;&nbsp;&nbsp;&nbsp; 22927 |
| &nbsp;&nbsp;&nbsp;eXp World Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9209 | &nbsp;&nbsp;&nbsp;&nbsp; 99273 |
| &nbsp;&nbsp;&nbsp;FRP Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1508 | &nbsp;&nbsp;&nbsp;&nbsp; 39811 |
| &nbsp;&nbsp;&nbsp;Kennedy-Wilson Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13925 | &nbsp;&nbsp;&nbsp;&nbsp; 101931 |
| &nbsp;&nbsp;&nbsp;Legacy Housing Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1268 | &nbsp;&nbsp;&nbsp;&nbsp; 28378 |
| &nbsp;&nbsp;&nbsp;Marcus & Millichap, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2748 | &nbsp;&nbsp;&nbsp;&nbsp; 85628 |
| &nbsp;&nbsp;&nbsp;Maui Land & Pineapple Co., Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022 | &nbsp;&nbsp;&nbsp;&nbsp; 17384 |
| &nbsp;&nbsp;&nbsp;McGrath RentCorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2804 | &nbsp;&nbsp;&nbsp;&nbsp; 349911 |
| &nbsp;&nbsp;&nbsp;Mobile Infrastructure Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1637 | &nbsp;&nbsp;&nbsp;&nbsp; 6024 |
| &nbsp;&nbsp;&nbsp;Newmark Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;15745 | &nbsp;&nbsp;&nbsp;&nbsp; 238852 |
| &nbsp;&nbsp;&nbsp;RE/MAX Holdings, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2364 | &nbsp;&nbsp;&nbsp;&nbsp; 18179 |
| &nbsp;&nbsp;&nbsp;Real Brokerage, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12404 | &nbsp;&nbsp;&nbsp;&nbsp; 48996 |
| &nbsp;&nbsp;&nbsp;RMR Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1912 | &nbsp;&nbsp;&nbsp;&nbsp; 30707 |
| &nbsp;&nbsp;&nbsp;Seaport Entertainment Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;849 | &nbsp;&nbsp;&nbsp;&nbsp; 19586 |
| &nbsp;&nbsp;&nbsp;Sky Harbour Group Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2418 | &nbsp;&nbsp;&nbsp;&nbsp; 23624 |
| &nbsp;&nbsp;&nbsp;St. Joe Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4332 | &nbsp;&nbsp;&nbsp;&nbsp; 218766 |
| &nbsp;&nbsp;&nbsp;Stratus Properties, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716 | &nbsp;&nbsp;&nbsp;&nbsp; 11409 |
| &nbsp;&nbsp;&nbsp;Transcontinental Realty Investors, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp; 8815 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1843661 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **REITS — 6.3%** | **REITS — 6.3%** | **REITS — 6.3%** |
| &nbsp;&nbsp;&nbsp;Acadia Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp;15171 | &nbsp;&nbsp;$284001 |
| &nbsp;&nbsp;&nbsp;ACRES Commercial Realty Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 13776 |
| &nbsp;&nbsp;&nbsp;Advanced Flower Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2033 | &nbsp;&nbsp;&nbsp;&nbsp; 8966 |
| &nbsp;&nbsp;&nbsp;AG Mtg. Investment Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3256 | &nbsp;&nbsp;&nbsp;&nbsp; 24615 |
| &nbsp;&nbsp;&nbsp;Alexander & Baldwin, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8234 | &nbsp;&nbsp;&nbsp;&nbsp; 148047 |
| &nbsp;&nbsp;&nbsp;Alexander's, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp; 62798 |
| &nbsp;&nbsp;&nbsp;Alpine Income Property Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1416 | &nbsp;&nbsp;&nbsp;&nbsp; 19895 |
| &nbsp;&nbsp;&nbsp;American Assets Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5914 | &nbsp;&nbsp;&nbsp;&nbsp; 112543 |
| &nbsp;&nbsp;&nbsp;American Healthcare REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18192 | &nbsp;&nbsp;&nbsp;&nbsp; 702939 |
| &nbsp;&nbsp;&nbsp;Angel Oak Mtg. REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1344 | &nbsp;&nbsp;&nbsp;&nbsp; 12445 |
| &nbsp;&nbsp;&nbsp;Apartment Investment & Management Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;15084 | &nbsp;&nbsp;&nbsp;&nbsp; 126856 |
| &nbsp;&nbsp;&nbsp;Apollo Commercial Real Estate Finance, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15959 | &nbsp;&nbsp;&nbsp;&nbsp; 153526 |
| &nbsp;&nbsp;&nbsp;Apple Hospitality REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;25790 | &nbsp;&nbsp;&nbsp;&nbsp; 303033 |
| &nbsp;&nbsp;&nbsp;Arbor Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17257 | &nbsp;&nbsp;&nbsp;&nbsp; 192588 |
| &nbsp;&nbsp;&nbsp;Ares Commercial Real Estate Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6043 | &nbsp;&nbsp;&nbsp;&nbsp; 27012 |
| &nbsp;&nbsp;&nbsp;Armada Hoffler Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9074 | &nbsp;&nbsp;&nbsp;&nbsp; 61975 |
| &nbsp;&nbsp;&nbsp;ARMOUR Residential REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9381 | &nbsp;&nbsp;&nbsp;&nbsp; 153004 |
| &nbsp;&nbsp;&nbsp;Blackstone Mtg. Trust, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;18503 | &nbsp;&nbsp;&nbsp;&nbsp; 341935 |
| &nbsp;&nbsp;&nbsp;Braemar Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6813 | &nbsp;&nbsp;&nbsp;&nbsp; 14989 |
| &nbsp;&nbsp;&nbsp;Brandywine Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp;19048 | &nbsp;&nbsp;&nbsp;&nbsp; 76192 |
| &nbsp;&nbsp;&nbsp;BrightSpire Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14613 | &nbsp;&nbsp;&nbsp;&nbsp; 75695 |
| &nbsp;&nbsp;&nbsp;Broadstone Net Lease, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21677 | &nbsp;&nbsp;&nbsp;&nbsp; 352034 |
| &nbsp;&nbsp;&nbsp;BRT Apartments Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1290 | &nbsp;&nbsp;&nbsp;&nbsp; 18770 |
| &nbsp;&nbsp;&nbsp;CareTrust REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21492 | &nbsp;&nbsp;&nbsp;&nbsp; 683446 |
| &nbsp;&nbsp;&nbsp;CBL & Associates Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2473 | &nbsp;&nbsp;&nbsp;&nbsp; 66919 |
| &nbsp;&nbsp;&nbsp;Centerspace | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1916 | &nbsp;&nbsp;&nbsp;&nbsp; 104288 |
| &nbsp;&nbsp;&nbsp;Chatham Lodging Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5744 | &nbsp;&nbsp;&nbsp;&nbsp; 39174 |
| &nbsp;&nbsp;&nbsp;Chimera Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9112 | &nbsp;&nbsp;&nbsp;&nbsp; 121827 |
| &nbsp;&nbsp;&nbsp;Claros Mtg. Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10870 | &nbsp;&nbsp;&nbsp;&nbsp; 30980 |
| &nbsp;&nbsp;&nbsp;Clipper Realty, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1914 | &nbsp;&nbsp;&nbsp;&nbsp; 6661 |
| &nbsp;&nbsp;&nbsp;Community Healthcare Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3126 | &nbsp;&nbsp;&nbsp;&nbsp; 48047 |
| &nbsp;&nbsp;&nbsp;COPT Defense Properties | &nbsp;&nbsp;&nbsp;&nbsp;12964 | &nbsp;&nbsp;&nbsp;&nbsp; 353658 |
| &nbsp;&nbsp;&nbsp;CTO Realty Growth, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3478 | &nbsp;&nbsp;&nbsp;&nbsp; 57422 |
| &nbsp;&nbsp;&nbsp;Curbline Properties Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11203 | &nbsp;&nbsp;&nbsp;&nbsp; 247586 |
| &nbsp;&nbsp;&nbsp;DiamondRock Hospitality Co. | &nbsp;&nbsp;&nbsp;&nbsp;23840 | &nbsp;&nbsp;&nbsp;&nbsp; 184045 |
| &nbsp;&nbsp;&nbsp;Diversified Healthcare Trust | &nbsp;&nbsp;&nbsp;&nbsp;25634 | &nbsp;&nbsp;&nbsp;&nbsp; 83823 |
| &nbsp;&nbsp;&nbsp;Douglas Emmett, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14684 | &nbsp;&nbsp;&nbsp;&nbsp; 222609 |
| &nbsp;&nbsp;&nbsp;Dynex Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11991 | &nbsp;&nbsp;&nbsp;&nbsp; 149168 |
| &nbsp;&nbsp;&nbsp;Easterly Government Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4506 | &nbsp;&nbsp;&nbsp;&nbsp; 99132 |
| &nbsp;&nbsp;&nbsp;Ellington Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10501 | &nbsp;&nbsp;&nbsp;&nbsp; 133258 |
| &nbsp;&nbsp;&nbsp;Elme Communities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9891 | &nbsp;&nbsp;&nbsp;&nbsp; 149156 |
| &nbsp;&nbsp;&nbsp;Empire State Realty Trust, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;15413 | &nbsp;&nbsp;&nbsp;&nbsp; 111590 |
| &nbsp;&nbsp;&nbsp;Essential Properties Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22705 | &nbsp;&nbsp;&nbsp;&nbsp; 692275 |
| &nbsp;&nbsp;&nbsp;Farmland Partners, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4977 | &nbsp;&nbsp;&nbsp;&nbsp; 52109 |
| &nbsp;&nbsp;&nbsp;Four Corners Property Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11464 | &nbsp;&nbsp;&nbsp;&nbsp; 289351 |
| &nbsp;&nbsp;&nbsp;Franklin BSP Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9310 | &nbsp;&nbsp;&nbsp;&nbsp; 94031 |
| &nbsp;&nbsp;&nbsp;Franklin Street Properties Corp. | &nbsp;&nbsp;&nbsp;&nbsp;10036 | &nbsp;&nbsp;&nbsp;&nbsp; 16559 |
| &nbsp;&nbsp;&nbsp;FrontView REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;&nbsp; 23775 |
| &nbsp;&nbsp;&nbsp;Getty Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5902 | &nbsp;&nbsp;&nbsp;&nbsp; 164017 |
| &nbsp;&nbsp;&nbsp;Gladstone Commercial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5204 | &nbsp;&nbsp;&nbsp;&nbsp; 68433 |
| &nbsp;&nbsp;&nbsp;Gladstone Land Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3801 | &nbsp;&nbsp;&nbsp;&nbsp; 34969 |
| &nbsp;&nbsp;&nbsp;Global Medical REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7296 | &nbsp;&nbsp;&nbsp;&nbsp; 48737 |
| &nbsp;&nbsp;&nbsp;Global Net Lease, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22669 | &nbsp;&nbsp;&nbsp;&nbsp; 158456 |
| &nbsp;&nbsp;&nbsp;Great Ajax Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4788 | &nbsp;&nbsp;&nbsp;&nbsp; 12449 |
| &nbsp;&nbsp;&nbsp;Hudson Pacific Properties, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;35974 | &nbsp;&nbsp;&nbsp;&nbsp; 88136 |
| &nbsp;&nbsp;&nbsp;Independence Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26456 | &nbsp;&nbsp;&nbsp;&nbsp; 443667 |
| &nbsp;&nbsp;&nbsp;Industrial Logistics Properties Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7386 | &nbsp;&nbsp;&nbsp;&nbsp; 39294 |
| &nbsp;&nbsp;&nbsp;Innovative Industrial Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3188 | &nbsp;&nbsp;&nbsp;&nbsp; 164820 |
| &nbsp;&nbsp;&nbsp;InvenTrust Properties Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8876 | &nbsp;&nbsp;&nbsp;&nbsp; 244711 |
| &nbsp;&nbsp;&nbsp;Invesco Mtg. Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7532 | &nbsp;&nbsp;&nbsp;&nbsp; 56867 |
| &nbsp;&nbsp;&nbsp;JBG SMITH Properties | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8404 | &nbsp;&nbsp;&nbsp;&nbsp; 177997 |
| &nbsp;&nbsp;&nbsp;Kite Realty Group Trust | &nbsp;&nbsp;&nbsp;&nbsp;25125 | &nbsp;&nbsp;&nbsp;&nbsp; 552248 |
| &nbsp;&nbsp;&nbsp;KKR Real Estate Finance Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6822 | &nbsp;&nbsp;&nbsp;&nbsp; 61671 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Small Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **REITS (continued)** | **REITS (continued)** | **REITS (continued)** |
| &nbsp;&nbsp;&nbsp;Ladder Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12842 | &nbsp;&nbsp;$140235 |
| &nbsp;&nbsp;&nbsp;LTC Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5199 | &nbsp;&nbsp;&nbsp;&nbsp; 176974 |
| &nbsp;&nbsp;&nbsp;Lument Finance Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5188 | &nbsp;&nbsp;&nbsp;&nbsp; 11206 |
| &nbsp;&nbsp;&nbsp;LXP Industrial Trust | &nbsp;&nbsp;&nbsp;&nbsp;33514 | &nbsp;&nbsp;&nbsp;&nbsp; 260069 |
| &nbsp;&nbsp;&nbsp;Macerich Co. | &nbsp;&nbsp;&nbsp;&nbsp;28893 | &nbsp;&nbsp;&nbsp;&nbsp; 482802 |
| &nbsp;&nbsp;&nbsp;MFA Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11580 | &nbsp;&nbsp;&nbsp;&nbsp; 105262 |
| &nbsp;&nbsp;&nbsp;Modiv Industrial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1063 | &nbsp;&nbsp;&nbsp;&nbsp; 15254 |
| &nbsp;&nbsp;&nbsp;National Health Investors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5258 | &nbsp;&nbsp;&nbsp;&nbsp; 367324 |
| &nbsp;&nbsp;&nbsp;NET Lease Office Properties† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1680 | &nbsp;&nbsp;&nbsp;&nbsp; 55759 |
| &nbsp;&nbsp;&nbsp;NETSTREIT Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9352 | &nbsp;&nbsp;&nbsp;&nbsp; 170487 |
| &nbsp;&nbsp;&nbsp;New York Mtg. Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9327 | &nbsp;&nbsp;&nbsp;&nbsp; 59040 |
| &nbsp;&nbsp;&nbsp;NexPoint Diversified Real Estate Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3877 | &nbsp;&nbsp;&nbsp;&nbsp; 17020 |
| &nbsp;&nbsp;&nbsp;Nexpoint Real Estate Finance, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp;&nbsp;&nbsp; 12765 |
| &nbsp;&nbsp;&nbsp;NexPoint Residential Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2569 | &nbsp;&nbsp;&nbsp;&nbsp; 80101 |
| &nbsp;&nbsp;&nbsp;One Liberty Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2086 | &nbsp;&nbsp;&nbsp;&nbsp; 46685 |
| &nbsp;&nbsp;&nbsp;Orchid Island Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12261 | &nbsp;&nbsp;&nbsp;&nbsp; 85337 |
| &nbsp;&nbsp;&nbsp;Outfront Media, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16342 | &nbsp;&nbsp;&nbsp;&nbsp; 286475 |
| &nbsp;&nbsp;&nbsp;Paramount Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;21342 | &nbsp;&nbsp;&nbsp;&nbsp; 130613 |
| &nbsp;&nbsp;&nbsp;Peakstone Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4417 | &nbsp;&nbsp;&nbsp;&nbsp; 60071 |
| &nbsp;&nbsp;&nbsp;Pebblebrook Hotel Trust | &nbsp;&nbsp;&nbsp;&nbsp;13422 | &nbsp;&nbsp;&nbsp;&nbsp; 134623 |
| &nbsp;&nbsp;&nbsp;PennyMac Mtg. Investment Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9830 | &nbsp;&nbsp;&nbsp;&nbsp; 115896 |
| &nbsp;&nbsp;&nbsp;Phillips Edison & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14366 | &nbsp;&nbsp;&nbsp;&nbsp; 485427 |
| &nbsp;&nbsp;&nbsp;Piedmont Office Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13876 | &nbsp;&nbsp;&nbsp;&nbsp; 104903 |
| &nbsp;&nbsp;&nbsp;Plymouth Industrial REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4537 | &nbsp;&nbsp;&nbsp;&nbsp; 65877 |
| &nbsp;&nbsp;&nbsp;Postal Realty Trust, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2529 | &nbsp;&nbsp;&nbsp;&nbsp; 34673 |
| &nbsp;&nbsp;&nbsp;PotlatchDeltic Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8893 | &nbsp;&nbsp;&nbsp;&nbsp; 363635 |
| &nbsp;&nbsp;&nbsp;Ready Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;18610 | &nbsp;&nbsp;&nbsp;&nbsp; 78348 |
| &nbsp;&nbsp;&nbsp;Redwood Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14895 | &nbsp;&nbsp;&nbsp;&nbsp; 81327 |
| &nbsp;&nbsp;&nbsp;RLJ Lodging Trust | &nbsp;&nbsp;&nbsp;&nbsp;16979 | &nbsp;&nbsp;&nbsp;&nbsp; 125645 |
| &nbsp;&nbsp;&nbsp;Ryman Hospitality Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6723 | &nbsp;&nbsp;&nbsp;&nbsp; 639088 |
| &nbsp;&nbsp;&nbsp;Sabra Health Care REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;27048 | &nbsp;&nbsp;&nbsp;&nbsp; 487675 |
| &nbsp;&nbsp;&nbsp;Safehold, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6386 | &nbsp;&nbsp;&nbsp;&nbsp; 89340 |
| &nbsp;&nbsp;&nbsp;Saul Centers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp; 45108 |
| &nbsp;&nbsp;&nbsp;Service Properties Trust | &nbsp;&nbsp;&nbsp;&nbsp;18663 | &nbsp;&nbsp;&nbsp;&nbsp; 49084 |
| &nbsp;&nbsp;&nbsp;Seven Hills Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1447 | &nbsp;&nbsp;&nbsp;&nbsp; 14890 |
| &nbsp;&nbsp;&nbsp;Sila Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6329 | &nbsp;&nbsp;&nbsp;&nbsp; 154681 |
| &nbsp;&nbsp;&nbsp;SITE Centers Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5735 | &nbsp;&nbsp;&nbsp;&nbsp; 61766 |
| &nbsp;&nbsp;&nbsp;SL Green Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8211 | &nbsp;&nbsp;&nbsp;&nbsp; 470080 |
| &nbsp;&nbsp;&nbsp;Smartstop Self Storage REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3218 | &nbsp;&nbsp;&nbsp;&nbsp; 109026 |
| &nbsp;&nbsp;&nbsp;Strawberry Fields REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1174 | &nbsp;&nbsp;&nbsp;&nbsp; 12045 |
| &nbsp;&nbsp;&nbsp;Summit Hotel Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12541 | &nbsp;&nbsp;&nbsp;&nbsp; 65464 |
| &nbsp;&nbsp;&nbsp;Sunrise Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1329 | &nbsp;&nbsp;&nbsp;&nbsp; 13303 |
| &nbsp;&nbsp;&nbsp;Sunstone Hotel Investors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;22695 | &nbsp;&nbsp;&nbsp;&nbsp; 198581 |
| &nbsp;&nbsp;&nbsp;Tanger, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12715 | &nbsp;&nbsp;&nbsp;&nbsp; 381704 |
| &nbsp;&nbsp;&nbsp;Terreno Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11687 | &nbsp;&nbsp;&nbsp;&nbsp; 648512 |
| &nbsp;&nbsp;&nbsp;TPG RE Finance Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7793 | &nbsp;&nbsp;&nbsp;&nbsp; 67799 |
| &nbsp;&nbsp;&nbsp;Two Harbors Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11747 | &nbsp;&nbsp;&nbsp;&nbsp; 114533 |
| &nbsp;&nbsp;&nbsp;UMH Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8879 | &nbsp;&nbsp;&nbsp;&nbsp; 144550 |
| &nbsp;&nbsp;&nbsp;Uniti Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;27499 | &nbsp;&nbsp;&nbsp;&nbsp; 146295 |
| &nbsp;&nbsp;&nbsp;Universal Health Realty Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1473 | &nbsp;&nbsp;&nbsp;&nbsp; 57138 |
| &nbsp;&nbsp;&nbsp;Urban Edge Properties | &nbsp;&nbsp;&nbsp;&nbsp;14471 | &nbsp;&nbsp;&nbsp;&nbsp; 285368 |
| &nbsp;&nbsp;&nbsp;Veris Residential, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9040 | &nbsp;&nbsp;&nbsp;&nbsp; 127283 |
| &nbsp;&nbsp;&nbsp;Whitestone REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5586 | &nbsp;&nbsp;&nbsp;&nbsp; 68093 |
| &nbsp;&nbsp;&nbsp;Xenia Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11534 | &nbsp;&nbsp;&nbsp;&nbsp; 146597 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;18416831 |
| **Retail — 3.9%** | **Retail — 3.9%** | **Retail — 3.9%** |
| &nbsp;&nbsp;&nbsp;Abercrombie & Fitch Co., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5361 | &nbsp;&nbsp;&nbsp;&nbsp; 514763 |
| &nbsp;&nbsp;&nbsp;Academy Sports & Outdoors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7691 | &nbsp;&nbsp;&nbsp;&nbsp; 390626 |
| &nbsp;&nbsp;&nbsp;Advance Auto Parts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6827 | &nbsp;&nbsp;&nbsp;&nbsp; 362309 |
| &nbsp;&nbsp;&nbsp;American Eagle Outfitters, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18484 | &nbsp;&nbsp;&nbsp;&nbsp; 199627 |
| &nbsp;&nbsp;&nbsp;America's Car-Mart, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847 | &nbsp;&nbsp;&nbsp;&nbsp; 38149 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| &nbsp;&nbsp;&nbsp;Arko Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9329 | &nbsp;&nbsp;$38902 |
| &nbsp;&nbsp;&nbsp;Asbury Automotive Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2245 | &nbsp;&nbsp;&nbsp;&nbsp; 498659 |
| &nbsp;&nbsp;&nbsp;Barnes & Noble Education, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1702 | &nbsp;&nbsp;&nbsp;&nbsp; 15029 |
| &nbsp;&nbsp;&nbsp;Bassett Furniture Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;927 | &nbsp;&nbsp;&nbsp;&nbsp; 14665 |
| &nbsp;&nbsp;&nbsp;Biglari Holdings, Inc., Class B† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 | &nbsp;&nbsp;&nbsp;&nbsp; 25282 |
| &nbsp;&nbsp;&nbsp;BJ's Restaurants, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2438 | &nbsp;&nbsp;&nbsp;&nbsp; 86378 |
| &nbsp;&nbsp;&nbsp;Bloomin' Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9594 | &nbsp;&nbsp;&nbsp;&nbsp; 87401 |
| &nbsp;&nbsp;&nbsp;BlueLinx Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp;&nbsp;&nbsp; 67775 |
| &nbsp;&nbsp;&nbsp;Boot Barn Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp; 601650 |
| &nbsp;&nbsp;&nbsp;Brinker International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5060 | &nbsp;&nbsp;&nbsp;&nbsp; 797456 |
| &nbsp;&nbsp;&nbsp;Buckle, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3609 | &nbsp;&nbsp;&nbsp;&nbsp; 178176 |
| &nbsp;&nbsp;&nbsp;Build-A-Bear Workshop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1380 | &nbsp;&nbsp;&nbsp;&nbsp; 69980 |
| &nbsp;&nbsp;&nbsp;Caleres, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3696 | &nbsp;&nbsp;&nbsp;&nbsp; 50746 |
| &nbsp;&nbsp;&nbsp;Camping World Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6883 | &nbsp;&nbsp;&nbsp;&nbsp; 95261 |
| &nbsp;&nbsp;&nbsp;Cheesecake Factory, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5462 | &nbsp;&nbsp;&nbsp;&nbsp; 349077 |
| &nbsp;&nbsp;&nbsp;Citi Trends, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810 | &nbsp;&nbsp;&nbsp;&nbsp; 24721 |
| &nbsp;&nbsp;&nbsp;Clean Energy Fuels Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;19311 | &nbsp;&nbsp;&nbsp;&nbsp; 39201 |
| &nbsp;&nbsp;&nbsp;Cracker Barrel Old Country Store, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2539 | &nbsp;&nbsp;&nbsp;&nbsp; 157418 |
| &nbsp;&nbsp;&nbsp;Dave & Buster's Entertainment, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3092 | &nbsp;&nbsp;&nbsp;&nbsp; 90410 |
| &nbsp;&nbsp;&nbsp;Denny's Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5853 | &nbsp;&nbsp;&nbsp;&nbsp; 21773 |
| &nbsp;&nbsp;&nbsp;Designer Brands, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3860 | &nbsp;&nbsp;&nbsp;&nbsp; 10885 |
| &nbsp;&nbsp;&nbsp;Dine Brands Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1699 | &nbsp;&nbsp;&nbsp;&nbsp; 38414 |
| &nbsp;&nbsp;&nbsp;El Pollo Loco Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2913 | &nbsp;&nbsp;&nbsp;&nbsp; 30004 |
| &nbsp;&nbsp;&nbsp;Envela Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp;&nbsp;&nbsp; 4119 |
| &nbsp;&nbsp;&nbsp;EVgo, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14575 | &nbsp;&nbsp;&nbsp;&nbsp; 49118 |
| &nbsp;&nbsp;&nbsp;First Watch Restaurant Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4643 | &nbsp;&nbsp;&nbsp;&nbsp; 80278 |
| &nbsp;&nbsp;&nbsp;FirstCash Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4507 | &nbsp;&nbsp;&nbsp;&nbsp; 600738 |
| &nbsp;&nbsp;&nbsp;Foot Locker, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9733 | &nbsp;&nbsp;&nbsp;&nbsp; 243714 |
| &nbsp;&nbsp;&nbsp;Genesco, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1141 | &nbsp;&nbsp;&nbsp;&nbsp; 27453 |
| &nbsp;&nbsp;&nbsp;GMS, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4413 | &nbsp;&nbsp;&nbsp;&nbsp; 483841 |
| &nbsp;&nbsp;&nbsp;Group 1 Automotive, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1434 | &nbsp;&nbsp;&nbsp;&nbsp; 591023 |
| &nbsp;&nbsp;&nbsp;Haverty Furniture Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1596 | &nbsp;&nbsp;&nbsp;&nbsp; 32926 |
| &nbsp;&nbsp;&nbsp;J. Jill, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651 | &nbsp;&nbsp;&nbsp;&nbsp; 10208 |
| &nbsp;&nbsp;&nbsp;Jack in the Box, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2114 | &nbsp;&nbsp;&nbsp;&nbsp; 41646 |
| &nbsp;&nbsp;&nbsp;Kohl's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12405 | &nbsp;&nbsp;&nbsp;&nbsp; 134470 |
| &nbsp;&nbsp;&nbsp;Krispy Kreme, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9422 | &nbsp;&nbsp;&nbsp;&nbsp; 34108 |
| &nbsp;&nbsp;&nbsp;Kura Sushi USA, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761 | &nbsp;&nbsp;&nbsp;&nbsp; 66770 |
| &nbsp;&nbsp;&nbsp;La-Z-Boy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4721 | &nbsp;&nbsp;&nbsp;&nbsp; 169814 |
| &nbsp;&nbsp;&nbsp;MarineMax, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2412 | &nbsp;&nbsp;&nbsp;&nbsp; 54704 |
| &nbsp;&nbsp;&nbsp;Movado Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1708 | &nbsp;&nbsp;&nbsp;&nbsp; 26491 |
| &nbsp;&nbsp;&nbsp;National Vision Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8903 | &nbsp;&nbsp;&nbsp;&nbsp; 215987 |
| &nbsp;&nbsp;&nbsp;Nu Skin Enterprises, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5497 | &nbsp;&nbsp;&nbsp;&nbsp; 46065 |
| &nbsp;&nbsp;&nbsp;ODP Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3316 | &nbsp;&nbsp;&nbsp;&nbsp; 59158 |
| &nbsp;&nbsp;&nbsp;OneWater Marine, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1357 | &nbsp;&nbsp;&nbsp;&nbsp; 20816 |
| &nbsp;&nbsp;&nbsp;Papa John's International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3738 | &nbsp;&nbsp;&nbsp;&nbsp; 158529 |
| &nbsp;&nbsp;&nbsp;Patrick Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3713 | &nbsp;&nbsp;&nbsp;&nbsp; 361052 |
| &nbsp;&nbsp;&nbsp;PC Connection, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1310 | &nbsp;&nbsp;&nbsp;&nbsp; 80683 |
| &nbsp;&nbsp;&nbsp;Petco Health & Wellness Co., Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10005 | &nbsp;&nbsp;&nbsp;&nbsp; 30115 |
| &nbsp;&nbsp;&nbsp;Portillo's, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6269 | &nbsp;&nbsp;&nbsp;&nbsp; 62439 |
| &nbsp;&nbsp;&nbsp;Potbelly Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3031 | &nbsp;&nbsp;&nbsp;&nbsp; 36463 |
| &nbsp;&nbsp;&nbsp;PriceSmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2948 | &nbsp;&nbsp;&nbsp;&nbsp; 316910 |
| &nbsp;&nbsp;&nbsp;Sally Beauty Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;11465 | &nbsp;&nbsp;&nbsp;&nbsp; 111669 |
| &nbsp;&nbsp;&nbsp;Savers Value Village, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2668 | &nbsp;&nbsp;&nbsp;&nbsp; 27774 |
| &nbsp;&nbsp;&nbsp;Shake Shack, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4423 | &nbsp;&nbsp;&nbsp;&nbsp; 532264 |
| &nbsp;&nbsp;&nbsp;Shoe Carnival, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;&nbsp; 41370 |
| &nbsp;&nbsp;&nbsp;Signet Jewelers, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4772 | &nbsp;&nbsp;&nbsp;&nbsp; 377465 |
| &nbsp;&nbsp;&nbsp;Sonic Automotive, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1670 | &nbsp;&nbsp;&nbsp;&nbsp; 120825 |
| &nbsp;&nbsp;&nbsp;Sweetgreen, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;11798 | &nbsp;&nbsp;&nbsp;&nbsp; 151958 |
| &nbsp;&nbsp;&nbsp;Tile Shop Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3241 | &nbsp;&nbsp;&nbsp;&nbsp; 20451 |
| &nbsp;&nbsp;&nbsp;Urban Outfitters, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7229 | &nbsp;&nbsp;&nbsp;&nbsp; 544199 |
| &nbsp;&nbsp;&nbsp;Victoria's Secret & Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7785 | &nbsp;&nbsp;&nbsp;&nbsp; 146358 |
| &nbsp;&nbsp;&nbsp;Warby Parker, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;11173 | &nbsp;&nbsp;&nbsp;&nbsp; 267593 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Small Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| &nbsp;&nbsp;&nbsp;Winmark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339 | &nbsp;&nbsp;$127945 |
| &nbsp;&nbsp;&nbsp;Zumiez, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1888 | &nbsp;&nbsp;&nbsp;&nbsp; 25885 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11430131 |
| **Savings & Loans — 1.2%** | **Savings & Loans — 1.2%** | **Savings & Loans — 1.2%** |
| &nbsp;&nbsp;&nbsp;Axos Financial, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6027 | &nbsp;&nbsp;&nbsp;&nbsp; 520432 |
| &nbsp;&nbsp;&nbsp;Banc of California, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15931 | &nbsp;&nbsp;&nbsp;&nbsp; 231318 |
| &nbsp;&nbsp;&nbsp;Bankfinancial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1268 | &nbsp;&nbsp;&nbsp;&nbsp; 14100 |
| &nbsp;&nbsp;&nbsp;Berkshire Hills Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5288 | &nbsp;&nbsp;&nbsp;&nbsp; 130296 |
| &nbsp;&nbsp;&nbsp;Brookline Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9853 | &nbsp;&nbsp;&nbsp;&nbsp; 101683 |
| &nbsp;&nbsp;&nbsp;BV Financial, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985 | &nbsp;&nbsp;&nbsp;&nbsp; 15405 |
| &nbsp;&nbsp;&nbsp;Capitol Federal Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14220 | &nbsp;&nbsp;&nbsp;&nbsp; 85604 |
| &nbsp;&nbsp;&nbsp;CF Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437 | &nbsp;&nbsp;&nbsp;&nbsp; 10313 |
| &nbsp;&nbsp;&nbsp;Citizens Community Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1091 | &nbsp;&nbsp;&nbsp;&nbsp; 16081 |
| &nbsp;&nbsp;&nbsp;Eagle Bancorp Montana, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842 | &nbsp;&nbsp;&nbsp;&nbsp; 13573 |
| &nbsp;&nbsp;&nbsp;Finward Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp; 10815 |
| &nbsp;&nbsp;&nbsp;First Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371 | &nbsp;&nbsp;&nbsp;&nbsp; 13178 |
| &nbsp;&nbsp;&nbsp;First Savings Financial Grp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp;&nbsp;&nbsp; 16115 |
| &nbsp;&nbsp;&nbsp;Flagstar Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;34561 | &nbsp;&nbsp;&nbsp;&nbsp; 390194 |
| &nbsp;&nbsp;&nbsp;Flushing Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3608 | &nbsp;&nbsp;&nbsp;&nbsp; 43260 |
| &nbsp;&nbsp;&nbsp;FS Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;753 | &nbsp;&nbsp;&nbsp;&nbsp; 29435 |
| &nbsp;&nbsp;&nbsp;Greene County Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792 | &nbsp;&nbsp;&nbsp;&nbsp; 18763 |
| &nbsp;&nbsp;&nbsp;Hingham Institution for Savings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177 | &nbsp;&nbsp;&nbsp;&nbsp; 43344 |
| &nbsp;&nbsp;&nbsp;Home Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;797 | &nbsp;&nbsp;&nbsp;&nbsp; 41675 |
| &nbsp;&nbsp;&nbsp;HomeTrust Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1829 | &nbsp;&nbsp;&nbsp;&nbsp; 71075 |
| &nbsp;&nbsp;&nbsp;Northfield Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4312 | &nbsp;&nbsp;&nbsp;&nbsp; 45923 |
| &nbsp;&nbsp;&nbsp;Northwest Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;16607 | &nbsp;&nbsp;&nbsp;&nbsp; 194302 |
| &nbsp;&nbsp;&nbsp;OceanFirst Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6507 | &nbsp;&nbsp;&nbsp;&nbsp; 109188 |
| &nbsp;&nbsp;&nbsp;Pacific Premier Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10973 | &nbsp;&nbsp;&nbsp;&nbsp; 237785 |
| &nbsp;&nbsp;&nbsp;Provident Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12255 | &nbsp;&nbsp;&nbsp;&nbsp; 223286 |
| &nbsp;&nbsp;&nbsp;Riverview Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2323 | &nbsp;&nbsp;&nbsp;&nbsp; 11452 |
| &nbsp;&nbsp;&nbsp;Sound Financial Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243 | &nbsp;&nbsp;&nbsp;&nbsp; 11190 |
| &nbsp;&nbsp;&nbsp;Southern Missouri Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1075 | &nbsp;&nbsp;&nbsp;&nbsp; 58147 |
| &nbsp;&nbsp;&nbsp;Timberland Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852 | &nbsp;&nbsp;&nbsp;&nbsp; 26659 |
| &nbsp;&nbsp;&nbsp;WaFd, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9156 | &nbsp;&nbsp;&nbsp;&nbsp; 266485 |
| &nbsp;&nbsp;&nbsp;WaterStone Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1819 | &nbsp;&nbsp;&nbsp;&nbsp; 24211 |
| &nbsp;&nbsp;&nbsp;WSFS Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6601 | &nbsp;&nbsp;&nbsp;&nbsp; 361999 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3387286 |
| **Semiconductors — 2.1%** | **Semiconductors — 2.1%** | **Semiconductors — 2.1%** |
| &nbsp;&nbsp;&nbsp;ACM Research, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5946 | &nbsp;&nbsp;&nbsp;&nbsp; 180521 |
| &nbsp;&nbsp;&nbsp;Aehr Test Systems† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3428 | &nbsp;&nbsp;&nbsp;&nbsp; 57933 |
| &nbsp;&nbsp;&nbsp;Aeluma, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1093 | &nbsp;&nbsp;&nbsp;&nbsp; 24177 |
| &nbsp;&nbsp;&nbsp;Alpha & Omega Semiconductor, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2827 | &nbsp;&nbsp;&nbsp;&nbsp; 72004 |
| &nbsp;&nbsp;&nbsp;Ambarella, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4676 | &nbsp;&nbsp;&nbsp;&nbsp; 309037 |
| &nbsp;&nbsp;&nbsp;Arteris, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3269 | &nbsp;&nbsp;&nbsp;&nbsp; 32232 |
| &nbsp;&nbsp;&nbsp;Atomera, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3327 | &nbsp;&nbsp;&nbsp;&nbsp; 16635 |
| &nbsp;&nbsp;&nbsp;Axcelis Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3686 | &nbsp;&nbsp;&nbsp;&nbsp; 249505 |
| &nbsp;&nbsp;&nbsp;CEVA, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2674 | &nbsp;&nbsp;&nbsp;&nbsp; 57143 |
| &nbsp;&nbsp;&nbsp;Cohu, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5225 | &nbsp;&nbsp;&nbsp;&nbsp; 93318 |
| &nbsp;&nbsp;&nbsp;Diodes, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5274 | &nbsp;&nbsp;&nbsp;&nbsp; 260377 |
| &nbsp;&nbsp;&nbsp;FormFactor, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8946 | &nbsp;&nbsp;&nbsp;&nbsp; 254156 |
| &nbsp;&nbsp;&nbsp;Impinj, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2953 | &nbsp;&nbsp;&nbsp;&nbsp; 456475 |
| &nbsp;&nbsp;&nbsp;Kulicke & Soffa Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5909 | &nbsp;&nbsp;&nbsp;&nbsp; 193579 |
| &nbsp;&nbsp;&nbsp;MaxLinear, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9166 | &nbsp;&nbsp;&nbsp;&nbsp; 145006 |
| &nbsp;&nbsp;&nbsp;Navitas Semiconductor Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;15299 | &nbsp;&nbsp;&nbsp;&nbsp; 112142 |
| &nbsp;&nbsp;&nbsp;Ouster, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5778 | &nbsp;&nbsp;&nbsp;&nbsp; 135090 |
| &nbsp;&nbsp;&nbsp;Penguin Solutions, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6092 | &nbsp;&nbsp;&nbsp;&nbsp; 143588 |
| &nbsp;&nbsp;&nbsp;Photronics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7070 | &nbsp;&nbsp;&nbsp;&nbsp; 143945 |
| &nbsp;&nbsp;&nbsp;Power Integrations, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6436 | &nbsp;&nbsp;&nbsp;&nbsp; 312275 |
| &nbsp;&nbsp;&nbsp;Rambus, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12330 | &nbsp;&nbsp;&nbsp;&nbsp; 911557 |
| &nbsp;&nbsp;&nbsp;Richardson Electronics, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1622 | &nbsp;&nbsp;&nbsp;&nbsp; 16350 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Semiconductors (continued)** | **Semiconductors (continued)** | **Semiconductors (continued)** |
| &nbsp;&nbsp;&nbsp;Semtech Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9917 | &nbsp;&nbsp;$506759 |
| &nbsp;&nbsp;&nbsp;Silicon Laboratories, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3670 | &nbsp;&nbsp;&nbsp;&nbsp; 483596 |
| &nbsp;&nbsp;&nbsp;SiTime Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2401 | &nbsp;&nbsp;&nbsp;&nbsp; 487043 |
| &nbsp;&nbsp;&nbsp;SkyWater Technology, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3249 | &nbsp;&nbsp;&nbsp;&nbsp; 29079 |
| &nbsp;&nbsp;&nbsp;Synaptics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4479 | &nbsp;&nbsp;&nbsp;&nbsp; 280833 |
| &nbsp;&nbsp;&nbsp;Ultra Clean Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5075 | &nbsp;&nbsp;&nbsp;&nbsp; 114289 |
| &nbsp;&nbsp;&nbsp;Veeco Instruments, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6506 | &nbsp;&nbsp;&nbsp;&nbsp; 135195 |
| &nbsp;&nbsp;&nbsp;Vishay Precision Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1397 | &nbsp;&nbsp;&nbsp;&nbsp; 37048 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6250887 |
| **Software — 5.5%** | **Software — 5.5%** | **Software — 5.5%** |
| &nbsp;&nbsp;&nbsp;TruBridge, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1136 | &nbsp;&nbsp;&nbsp;&nbsp; 23651 |
| &nbsp;&nbsp;&nbsp;8x8, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;15804 | &nbsp;&nbsp;&nbsp;&nbsp; 30660 |
| &nbsp;&nbsp;&nbsp;ACI Worldwide, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12052 | &nbsp;&nbsp;&nbsp;&nbsp; 512933 |
| &nbsp;&nbsp;&nbsp;ACV Auctions, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;19292 | &nbsp;&nbsp;&nbsp;&nbsp; 274139 |
| &nbsp;&nbsp;&nbsp;Adeia, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;12308 | &nbsp;&nbsp;&nbsp;&nbsp; 159389 |
| &nbsp;&nbsp;&nbsp;Agilysys, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2944 | &nbsp;&nbsp;&nbsp;&nbsp; 335851 |
| &nbsp;&nbsp;&nbsp;Airship AI Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2275 | &nbsp;&nbsp;&nbsp;&nbsp; 11807 |
| &nbsp;&nbsp;&nbsp;Alignment Healthcare, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14510 | &nbsp;&nbsp;&nbsp;&nbsp; 199948 |
| &nbsp;&nbsp;&nbsp;Alkami Technology, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7759 | &nbsp;&nbsp;&nbsp;&nbsp; 172948 |
| &nbsp;&nbsp;&nbsp;Amplitude, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9905 | &nbsp;&nbsp;&nbsp;&nbsp; 121138 |
| &nbsp;&nbsp;&nbsp;Appian Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4556 | &nbsp;&nbsp;&nbsp;&nbsp; 125791 |
| &nbsp;&nbsp;&nbsp;Asana, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;10616 | &nbsp;&nbsp;&nbsp;&nbsp; 155843 |
| &nbsp;&nbsp;&nbsp;Asure Software, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2583 | &nbsp;&nbsp;&nbsp;&nbsp; 25055 |
| &nbsp;&nbsp;&nbsp;AvePoint, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;15273 | &nbsp;&nbsp;&nbsp;&nbsp; 291409 |
| &nbsp;&nbsp;&nbsp;AvidXchange Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;19660 | &nbsp;&nbsp;&nbsp;&nbsp; 193848 |
| &nbsp;&nbsp;&nbsp;Bandwidth, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3068 | &nbsp;&nbsp;&nbsp;&nbsp; 42676 |
| &nbsp;&nbsp;&nbsp;BigBear.ai Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;32904 | &nbsp;&nbsp;&nbsp;&nbsp; 208940 |
| &nbsp;&nbsp;&nbsp;BigCommerce Holdings, Inc., Series 1† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7549 | &nbsp;&nbsp;&nbsp;&nbsp; 36084 |
| &nbsp;&nbsp;&nbsp;Blackbaud, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4424 | &nbsp;&nbsp;&nbsp;&nbsp; 298266 |
| &nbsp;&nbsp;&nbsp;BlackLine, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5995 | &nbsp;&nbsp;&nbsp;&nbsp; 322411 |
| &nbsp;&nbsp;&nbsp;Blend Labs, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;23864 | &nbsp;&nbsp;&nbsp;&nbsp; 78990 |
| &nbsp;&nbsp;&nbsp;Box, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;15983 | &nbsp;&nbsp;&nbsp;&nbsp; 513054 |
| &nbsp;&nbsp;&nbsp;Braze, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8680 | &nbsp;&nbsp;&nbsp;&nbsp; 241912 |
| &nbsp;&nbsp;&nbsp;C3.ai, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;13769 | &nbsp;&nbsp;&nbsp;&nbsp; 324398 |
| &nbsp;&nbsp;&nbsp;Cerence, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4718 | &nbsp;&nbsp;&nbsp;&nbsp; 40575 |
| &nbsp;&nbsp;&nbsp;Claritev Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;876 | &nbsp;&nbsp;&nbsp;&nbsp; 34926 |
| &nbsp;&nbsp;&nbsp;Clear Secure, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9972 | &nbsp;&nbsp;&nbsp;&nbsp; 293276 |
| &nbsp;&nbsp;&nbsp;Clearwater Analytics Holdings, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;28197 | &nbsp;&nbsp;&nbsp;&nbsp; 571271 |
| &nbsp;&nbsp;&nbsp;Climb Global Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp; 56050 |
| &nbsp;&nbsp;&nbsp;Commvault Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5056 | &nbsp;&nbsp;&nbsp;&nbsp; 960387 |
| &nbsp;&nbsp;&nbsp;Consensus Cloud Solutions, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2218 | &nbsp;&nbsp;&nbsp;&nbsp; 44759 |
| &nbsp;&nbsp;&nbsp;CoreCard Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637 | &nbsp;&nbsp;&nbsp;&nbsp; 18441 |
| &nbsp;&nbsp;&nbsp;CS Disco, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3172 | &nbsp;&nbsp;&nbsp;&nbsp; 12593 |
| &nbsp;&nbsp;&nbsp;CSG Systems International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3270 | &nbsp;&nbsp;&nbsp;&nbsp; 204244 |
| &nbsp;&nbsp;&nbsp;Daily Journal Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp; 63933 |
| &nbsp;&nbsp;&nbsp;Definitive Healthcare Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5109 | &nbsp;&nbsp;&nbsp;&nbsp; 19925 |
| &nbsp;&nbsp;&nbsp;Digi International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4171 | &nbsp;&nbsp;&nbsp;&nbsp; 136016 |
| &nbsp;&nbsp;&nbsp;Digimarc Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1638 | &nbsp;&nbsp;&nbsp;&nbsp; 19558 |
| &nbsp;&nbsp;&nbsp;Digital Turbine, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;11635 | &nbsp;&nbsp;&nbsp;&nbsp; 63411 |
| &nbsp;&nbsp;&nbsp;DigitalOcean Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7523 | &nbsp;&nbsp;&nbsp;&nbsp; 209591 |
| &nbsp;&nbsp;&nbsp;Domo, Inc., Class B† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3777 | &nbsp;&nbsp;&nbsp;&nbsp; 62169 |
| &nbsp;&nbsp;&nbsp;Donnelley Financial Solutions, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3155 | &nbsp;&nbsp;&nbsp;&nbsp; 167089 |
| &nbsp;&nbsp;&nbsp;E2open Parent Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;22753 | &nbsp;&nbsp;&nbsp;&nbsp; 75085 |
| &nbsp;&nbsp;&nbsp;eGain Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1678 | &nbsp;&nbsp;&nbsp;&nbsp; 10370 |
| &nbsp;&nbsp;&nbsp;EverCommerce, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2278 | &nbsp;&nbsp;&nbsp;&nbsp; 24443 |
| &nbsp;&nbsp;&nbsp;Evolent Health, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;13194 | &nbsp;&nbsp;&nbsp;&nbsp; 132600 |
| &nbsp;&nbsp;&nbsp;Expensify, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6798 | &nbsp;&nbsp;&nbsp;&nbsp; 13800 |
| &nbsp;&nbsp;&nbsp;Faraday Future Intelligent Electric, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10119 | &nbsp;&nbsp;&nbsp;&nbsp; 21553 |
| &nbsp;&nbsp;&nbsp;Fastly, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;15559 | &nbsp;&nbsp;&nbsp;&nbsp; 105646 |
| &nbsp;&nbsp;&nbsp;Five9, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8691 | &nbsp;&nbsp;&nbsp;&nbsp; 224488 |
| &nbsp;&nbsp;&nbsp;Freshworks, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;23392 | &nbsp;&nbsp;&nbsp;&nbsp; 303862 |
| &nbsp;&nbsp;&nbsp;Genius Sports, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;25461 | &nbsp;&nbsp;&nbsp;&nbsp; 286436 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Small Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp;GigaCloud Technology, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3011 | &nbsp;&nbsp;$67055 |
| &nbsp;&nbsp;&nbsp;Golden Matrix Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3490 | &nbsp;&nbsp;&nbsp;&nbsp; 5183 |
| &nbsp;&nbsp;&nbsp;Health Catalyst, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7427 | &nbsp;&nbsp;&nbsp;&nbsp; 27109 |
| &nbsp;&nbsp;&nbsp;I3 Verticals, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2603 | &nbsp;&nbsp;&nbsp;&nbsp; 72832 |
| &nbsp;&nbsp;&nbsp;IBEX Holdings, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1140 | &nbsp;&nbsp;&nbsp;&nbsp; 33710 |
| &nbsp;&nbsp;&nbsp;Ibotta, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1772 | &nbsp;&nbsp;&nbsp;&nbsp; 64412 |
| &nbsp;&nbsp;&nbsp;Immersion Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3359 | &nbsp;&nbsp;&nbsp;&nbsp; 23412 |
| &nbsp;&nbsp;&nbsp;Innodata, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3446 | &nbsp;&nbsp;&nbsp;&nbsp; 189185 |
| &nbsp;&nbsp;&nbsp;Inspired Entertainment, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2988 | &nbsp;&nbsp;&nbsp;&nbsp; 26922 |
| &nbsp;&nbsp;&nbsp;Intapp, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6307 | &nbsp;&nbsp;&nbsp;&nbsp; 252595 |
| &nbsp;&nbsp;&nbsp;IonQ, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;27104 | &nbsp;&nbsp;&nbsp;&nbsp; 1080636 |
| &nbsp;&nbsp;&nbsp;Jamf Holding Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7666 | &nbsp;&nbsp;&nbsp;&nbsp; 60868 |
| &nbsp;&nbsp;&nbsp;Kaltura, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10140 | &nbsp;&nbsp;&nbsp;&nbsp; 18151 |
| &nbsp;&nbsp;&nbsp;Life360, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1829 | &nbsp;&nbsp;&nbsp;&nbsp; 140083 |
| &nbsp;&nbsp;&nbsp;LiveRamp Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7352 | &nbsp;&nbsp;&nbsp;&nbsp; 241293 |
| &nbsp;&nbsp;&nbsp;MeridianLink, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3700 | &nbsp;&nbsp;&nbsp;&nbsp; 59126 |
| &nbsp;&nbsp;&nbsp;N-able, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8001 | &nbsp;&nbsp;&nbsp;&nbsp; 64648 |
| &nbsp;&nbsp;&nbsp;Nutex Health, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp; 33076 |
| &nbsp;&nbsp;&nbsp;Olo, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;13129 | &nbsp;&nbsp;&nbsp;&nbsp; 137592 |
| &nbsp;&nbsp;&nbsp;ON24, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4257 | &nbsp;&nbsp;&nbsp;&nbsp; 21115 |
| &nbsp;&nbsp;&nbsp;Outbrain, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4964 | &nbsp;&nbsp;&nbsp;&nbsp; 12559 |
| &nbsp;&nbsp;&nbsp;Outset Medical, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2015 | &nbsp;&nbsp;&nbsp;&nbsp; 32361 |
| &nbsp;&nbsp;&nbsp;Pagaya Technologies, Ltd., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4778 | &nbsp;&nbsp;&nbsp;&nbsp; 143579 |
| &nbsp;&nbsp;&nbsp;PagerDuty, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9972 | &nbsp;&nbsp;&nbsp;&nbsp; 160749 |
| &nbsp;&nbsp;&nbsp;PDF Solutions, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3521 | &nbsp;&nbsp;&nbsp;&nbsp; 78272 |
| &nbsp;&nbsp;&nbsp;Phreesia, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6457 | &nbsp;&nbsp;&nbsp;&nbsp; 174081 |
| &nbsp;&nbsp;&nbsp;Planet Labs PBC† | &nbsp;&nbsp;&nbsp;&nbsp;24746 | &nbsp;&nbsp;&nbsp;&nbsp; 154662 |
| &nbsp;&nbsp;&nbsp;Playstudios, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9897 | &nbsp;&nbsp;&nbsp;&nbsp; 11382 |
| &nbsp;&nbsp;&nbsp;Playtika Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6395 | &nbsp;&nbsp;&nbsp;&nbsp; 28490 |
| &nbsp;&nbsp;&nbsp;Porch Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9202 | &nbsp;&nbsp;&nbsp;&nbsp; 116129 |
| &nbsp;&nbsp;&nbsp;Progress Software Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4875 | &nbsp;&nbsp;&nbsp;&nbsp; 234390 |
| &nbsp;&nbsp;&nbsp;PROS Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5395 | &nbsp;&nbsp;&nbsp;&nbsp; 84647 |
| &nbsp;&nbsp;&nbsp;PubMatic, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4767 | &nbsp;&nbsp;&nbsp;&nbsp; 57252 |
| &nbsp;&nbsp;&nbsp;Quantum Computing, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13108 | &nbsp;&nbsp;&nbsp;&nbsp; 194523 |
| &nbsp;&nbsp;&nbsp;Rackspace Technology, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7644 | &nbsp;&nbsp;&nbsp;&nbsp; 9249 |
| &nbsp;&nbsp;&nbsp;Red Violet, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1248 | &nbsp;&nbsp;&nbsp;&nbsp; 55324 |
| &nbsp;&nbsp;&nbsp;ReposiTrak, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1205 | &nbsp;&nbsp;&nbsp;&nbsp; 19858 |
| &nbsp;&nbsp;&nbsp;Rezolve AI PLC† | &nbsp;&nbsp;&nbsp;&nbsp;10333 | &nbsp;&nbsp;&nbsp;&nbsp; 30276 |
| &nbsp;&nbsp;&nbsp;Sapiens International Corp. NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3532 | &nbsp;&nbsp;&nbsp;&nbsp; 96812 |
| &nbsp;&nbsp;&nbsp;Schrodinger, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6376 | &nbsp;&nbsp;&nbsp;&nbsp; 129624 |
| &nbsp;&nbsp;&nbsp;SEMrush Holdings, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5229 | &nbsp;&nbsp;&nbsp;&nbsp; 46852 |
| &nbsp;&nbsp;&nbsp;Silvaco Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;&nbsp; 3226 |
| &nbsp;&nbsp;&nbsp;Simulations Plus, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1751 | &nbsp;&nbsp;&nbsp;&nbsp; 22798 |
| &nbsp;&nbsp;&nbsp;Skillsoft Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507 | &nbsp;&nbsp;&nbsp;&nbsp; 7230 |
| &nbsp;&nbsp;&nbsp;SoundHound AI, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;41658 | &nbsp;&nbsp;&nbsp;&nbsp; 430327 |
| &nbsp;&nbsp;&nbsp;Sprout Social, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5904 | &nbsp;&nbsp;&nbsp;&nbsp; 101254 |
| &nbsp;&nbsp;&nbsp;SPS Commerce, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4333 | &nbsp;&nbsp;&nbsp;&nbsp; 471712 |
| &nbsp;&nbsp;&nbsp;Synchronoss Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1224 | &nbsp;&nbsp;&nbsp;&nbsp; 8960 |
| &nbsp;&nbsp;&nbsp;Talkspace, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;13140 | &nbsp;&nbsp;&nbsp;&nbsp; 31930 |
| &nbsp;&nbsp;&nbsp;Verint Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7106 | &nbsp;&nbsp;&nbsp;&nbsp; 151216 |
| &nbsp;&nbsp;&nbsp;Vertex, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7397 | &nbsp;&nbsp;&nbsp;&nbsp; 245358 |
| &nbsp;&nbsp;&nbsp;Viant Technology, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1648 | &nbsp;&nbsp;&nbsp;&nbsp; 23896 |
| &nbsp;&nbsp;&nbsp;Vimeo, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;17970 | &nbsp;&nbsp;&nbsp;&nbsp; 68106 |
| &nbsp;&nbsp;&nbsp;VTEX† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6566 | &nbsp;&nbsp;&nbsp;&nbsp; 39199 |
| &nbsp;&nbsp;&nbsp;Waystar Holding Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;10421 | &nbsp;&nbsp;&nbsp;&nbsp; 385369 |
| &nbsp;&nbsp;&nbsp;Weave Communications, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6631 | &nbsp;&nbsp;&nbsp;&nbsp; 48406 |
| &nbsp;&nbsp;&nbsp;WM Technology, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9928 | &nbsp;&nbsp;&nbsp;&nbsp; 8864 |
| &nbsp;&nbsp;&nbsp;Workiva, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5782 | &nbsp;&nbsp;&nbsp;&nbsp; 369065 |
| &nbsp;&nbsp;&nbsp;Yext, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12401 | &nbsp;&nbsp;&nbsp;&nbsp; 100696 |
| &nbsp;&nbsp;&nbsp;Zeta Global Holdings Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;21404 | &nbsp;&nbsp;&nbsp;&nbsp; 334973 |
| &nbsp;&nbsp;&nbsp;Zspace, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358 | &nbsp;&nbsp;&nbsp;&nbsp; 1013 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;16221310 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Telecommunications — 2.5%** | **Telecommunications — 2.5%** | **Telecommunications — 2.5%** |
| &nbsp;&nbsp;&nbsp;A10 Networks, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8428 | &nbsp;&nbsp;$155244 |
| &nbsp;&nbsp;&nbsp;ADTRAN Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9544 | &nbsp;&nbsp;&nbsp;&nbsp; 88664 |
| &nbsp;&nbsp;&nbsp;Anterix, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1471 | &nbsp;&nbsp;&nbsp;&nbsp; 32671 |
| &nbsp;&nbsp;&nbsp;Applied Digital Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;20113 | &nbsp;&nbsp;&nbsp;&nbsp; 264285 |
| &nbsp;&nbsp;&nbsp;ATN International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp; 22295 |
| &nbsp;&nbsp;&nbsp;Aviat Networks, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225 | &nbsp;&nbsp;&nbsp;&nbsp; 26460 |
| &nbsp;&nbsp;&nbsp;BK Technologies Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309 | &nbsp;&nbsp;&nbsp;&nbsp; 12001 |
| &nbsp;&nbsp;&nbsp;BlackSky Technology, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3182 | &nbsp;&nbsp;&nbsp;&nbsp; 61222 |
| &nbsp;&nbsp;&nbsp;Calix, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6687 | &nbsp;&nbsp;&nbsp;&nbsp; 379086 |
| &nbsp;&nbsp;&nbsp;Clearfield, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1293 | &nbsp;&nbsp;&nbsp;&nbsp; 56646 |
| &nbsp;&nbsp;&nbsp;CommScope Holding Co., Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;24284 | &nbsp;&nbsp;&nbsp;&nbsp; 199129 |
| &nbsp;&nbsp;&nbsp;Credo Technology Group Holding, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;16745 | &nbsp;&nbsp;&nbsp;&nbsp; 1867905 |
| &nbsp;&nbsp;&nbsp;DigitalBridge Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19488 | &nbsp;&nbsp;&nbsp;&nbsp; 209301 |
| &nbsp;&nbsp;&nbsp;EchoStar Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;15426 | &nbsp;&nbsp;&nbsp;&nbsp; 502733 |
| &nbsp;&nbsp;&nbsp;Extreme Networks, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;15185 | &nbsp;&nbsp;&nbsp;&nbsp; 268167 |
| &nbsp;&nbsp;&nbsp;Frequency Electronics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748 | &nbsp;&nbsp;&nbsp;&nbsp; 19897 |
| &nbsp;&nbsp;&nbsp;Globalstar, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5730 | &nbsp;&nbsp;&nbsp;&nbsp; 134598 |
| &nbsp;&nbsp;&nbsp;Gogo, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7789 | &nbsp;&nbsp;&nbsp;&nbsp; 123533 |
| &nbsp;&nbsp;&nbsp;Harmonic, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12576 | &nbsp;&nbsp;&nbsp;&nbsp; 107022 |
| &nbsp;&nbsp;&nbsp;IDT Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1851 | &nbsp;&nbsp;&nbsp;&nbsp; 109042 |
| &nbsp;&nbsp;&nbsp;Inseego Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1411 | &nbsp;&nbsp;&nbsp;&nbsp; 9341 |
| &nbsp;&nbsp;&nbsp;InterDigital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2960 | &nbsp;&nbsp;&nbsp;&nbsp; 764272 |
| &nbsp;&nbsp;&nbsp;Lumen Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;108509 | &nbsp;&nbsp;&nbsp;&nbsp; 482865 |
| &nbsp;&nbsp;&nbsp;NETGEAR, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3154 | &nbsp;&nbsp;&nbsp;&nbsp; 73330 |
| &nbsp;&nbsp;&nbsp;Ooma, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2667 | &nbsp;&nbsp;&nbsp;&nbsp; 30350 |
| &nbsp;&nbsp;&nbsp;Powerfleet, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;14133 | &nbsp;&nbsp;&nbsp;&nbsp; 57380 |
| &nbsp;&nbsp;&nbsp;Preformed Line Products Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp; 42441 |
| &nbsp;&nbsp;&nbsp;Ribbon Communications, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;10285 | &nbsp;&nbsp;&nbsp;&nbsp; 38672 |
| &nbsp;&nbsp;&nbsp;Satellogic, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7838 | &nbsp;&nbsp;&nbsp;&nbsp; 25709 |
| &nbsp;&nbsp;&nbsp;Shenandoah Telecommunications Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5799 | &nbsp;&nbsp;&nbsp;&nbsp; 85129 |
| &nbsp;&nbsp;&nbsp;Spok Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2326 | &nbsp;&nbsp;&nbsp;&nbsp; 42659 |
| &nbsp;&nbsp;&nbsp;Telephone & Data Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11239 | &nbsp;&nbsp;&nbsp;&nbsp; 438770 |
| &nbsp;&nbsp;&nbsp;Viasat, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;12893 | &nbsp;&nbsp;&nbsp;&nbsp; 211832 |
| &nbsp;&nbsp;&nbsp;Viavi Solutions, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;25475 | &nbsp;&nbsp;&nbsp;&nbsp; 256024 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7198675 |
| **Textiles — 0.1%** | **Textiles — 0.1%** | **Textiles — 0.1%** |
| &nbsp;&nbsp;&nbsp;UniFirst Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1733 | &nbsp;&nbsp;&nbsp;&nbsp; 296395 |
| **Toys/Games/Hobbies — 0.0%** | **Toys/Games/Hobbies — 0.0%** | **Toys/Games/Hobbies — 0.0%** |
| &nbsp;&nbsp;&nbsp;Funko, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3934 | &nbsp;&nbsp;&nbsp;&nbsp; 15107 |
| &nbsp;&nbsp;&nbsp;JAKKS Pacific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp; 16293 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31400 |
| **Transportation — 1.2%** | **Transportation — 1.2%** | **Transportation — 1.2%** |
| &nbsp;&nbsp;&nbsp;ArcBest Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2664 | &nbsp;&nbsp;&nbsp;&nbsp; 194818 |
| &nbsp;&nbsp;&nbsp;Ardmore Shipping Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4993 | &nbsp;&nbsp;&nbsp;&nbsp; 54324 |
| &nbsp;&nbsp;&nbsp;Costamare Bulkers Holdings, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784 | &nbsp;&nbsp;&nbsp;&nbsp; 7056 |
| &nbsp;&nbsp;&nbsp;Costamare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5358 | &nbsp;&nbsp;&nbsp;&nbsp; 54062 |
| &nbsp;&nbsp;&nbsp;Covenant Logistics Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1956 | &nbsp;&nbsp;&nbsp;&nbsp; 47237 |
| &nbsp;&nbsp;&nbsp;CryoPort, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5195 | &nbsp;&nbsp;&nbsp;&nbsp; 38079 |
| &nbsp;&nbsp;&nbsp;DHT Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15035 | &nbsp;&nbsp;&nbsp;&nbsp; 166738 |
| &nbsp;&nbsp;&nbsp;Dorian LPG, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4227 | &nbsp;&nbsp;&nbsp;&nbsp; 121695 |
| &nbsp;&nbsp;&nbsp;FLEX LNG, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3557 | &nbsp;&nbsp;&nbsp;&nbsp; 89174 |
| &nbsp;&nbsp;&nbsp;Forward Air Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2865 | &nbsp;&nbsp;&nbsp;&nbsp; 87067 |
| &nbsp;&nbsp;&nbsp;Genco Shipping & Trading, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4772 | &nbsp;&nbsp;&nbsp;&nbsp; 76018 |
| &nbsp;&nbsp;&nbsp;Golden Ocean Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;11630 | &nbsp;&nbsp;&nbsp;&nbsp; 94901 |
| &nbsp;&nbsp;&nbsp;Heartland Express, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5834 | &nbsp;&nbsp;&nbsp;&nbsp; 45622 |
| &nbsp;&nbsp;&nbsp;Himalaya Shipping, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3365 | &nbsp;&nbsp;&nbsp;&nbsp; 22949 |
| &nbsp;&nbsp;&nbsp;Hub Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6777 | &nbsp;&nbsp;&nbsp;&nbsp; 237331 |
| &nbsp;&nbsp;&nbsp;International Seaways, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4636 | &nbsp;&nbsp;&nbsp;&nbsp; 184977 |
| &nbsp;&nbsp;&nbsp;Marten Transport, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6633 | &nbsp;&nbsp;&nbsp;&nbsp; 80657 |
| &nbsp;&nbsp;&nbsp;Matson, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3705 | &nbsp;&nbsp;&nbsp;&nbsp; 395620 |
| &nbsp;&nbsp;&nbsp;Navigator Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3718 | &nbsp;&nbsp;&nbsp;&nbsp; 58633 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Small Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Transportation (continued)** | **Transportation (continued)** | **Transportation (continued)** |
| &nbsp;&nbsp;&nbsp;Nordic American Tankers, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;23059 | &nbsp;&nbsp;$64335 |
| &nbsp;&nbsp;&nbsp;PAMT Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp; 7648 |
| &nbsp;&nbsp;&nbsp;Pangaea Logistics Solutions, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4697 | &nbsp;&nbsp;&nbsp;&nbsp; 22874 |
| &nbsp;&nbsp;&nbsp;Proficient Auto Logistics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2559 | &nbsp;&nbsp;&nbsp;&nbsp; 17683 |
| &nbsp;&nbsp;&nbsp;Radiant Logistics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4018 | &nbsp;&nbsp;&nbsp;&nbsp; 23746 |
| &nbsp;&nbsp;&nbsp;RXO, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;18674 | &nbsp;&nbsp;&nbsp;&nbsp; 288513 |
| &nbsp;&nbsp;&nbsp;Safe Bulkers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7602 | &nbsp;&nbsp;&nbsp;&nbsp; 29876 |
| &nbsp;&nbsp;&nbsp;Scorpio Tankers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5009 | &nbsp;&nbsp;&nbsp;&nbsp; 226457 |
| &nbsp;&nbsp;&nbsp;SFL Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;13759 | &nbsp;&nbsp;&nbsp;&nbsp; 126308 |
| &nbsp;&nbsp;&nbsp;Teekay Corp., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6282 | &nbsp;&nbsp;&nbsp;&nbsp; 45230 |
| &nbsp;&nbsp;&nbsp;Teekay Tankers, Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2716 | &nbsp;&nbsp;&nbsp;&nbsp; 115023 |
| &nbsp;&nbsp;&nbsp;Universal Logistics Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792 | &nbsp;&nbsp;&nbsp;&nbsp; 18953 |
| &nbsp;&nbsp;&nbsp;Werner Enterprises, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6828 | &nbsp;&nbsp;&nbsp;&nbsp; 189272 |
| &nbsp;&nbsp;&nbsp;World Kinect Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6458 | &nbsp;&nbsp;&nbsp;&nbsp; 176110 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3408986 |
| **Trucking & Leasing — 0.3%** | **Trucking & Leasing — 0.3%** | **Trucking & Leasing — 0.3%** |
| &nbsp;&nbsp;&nbsp;GATX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4105 | &nbsp;&nbsp;&nbsp;&nbsp; 626792 |
| &nbsp;&nbsp;&nbsp;Greenbrier Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3471 | &nbsp;&nbsp;&nbsp;&nbsp; 157931 |
| &nbsp;&nbsp;&nbsp;Willis Lease Finance Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406 | &nbsp;&nbsp;&nbsp;&nbsp; 57481 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842204 |
| **Water — 0.4%** | **Water — 0.4%** | **Water — 0.4%** |
| &nbsp;&nbsp;&nbsp;American States Water Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4401 | &nbsp;&nbsp;&nbsp;&nbsp; 323870 |
| &nbsp;&nbsp;&nbsp;California Water Service Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6832 | &nbsp;&nbsp;&nbsp;&nbsp; 310651 |
| &nbsp;&nbsp;&nbsp;Consolidated Water Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1699 | &nbsp;&nbsp;&nbsp;&nbsp; 49424 |
| &nbsp;&nbsp;&nbsp;Global Water Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1308 | &nbsp;&nbsp;&nbsp;&nbsp; 12491 |
| &nbsp;&nbsp;&nbsp;Middlesex Water Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2038 | &nbsp;&nbsp;&nbsp;&nbsp; 105161 |
| &nbsp;&nbsp;&nbsp;SJW Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3638 | &nbsp;&nbsp;&nbsp;&nbsp; 175679 |
| &nbsp;&nbsp;&nbsp;York Water Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1620 | &nbsp;&nbsp;&nbsp;&nbsp; 49021 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1026297 |
| **Total Common Stocks<br> (cost $259,987,067)** |  | &nbsp;&nbsp;&nbsp;&nbsp;290753961 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **RIGHTS — 0.0%** | **RIGHTS — 0.0%** |  |
| **Oil & Gas — 0.0%** | **Oil & Gas — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;Empire Petroleum Corp.<br> Expires 07/25/2025†<br> (cost $0) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1951 | &nbsp;&nbsp;$0 |
| **Total Long-Term Investment Securities<br> (cost $259,987,067)** |  | &nbsp;&nbsp;&nbsp;&nbsp;290753961 |
| **SHORT-TERM INVESTMENTS — 1.0%** | **SHORT-TERM INVESTMENTS — 1.0%** |  |
| **Unaffiliated Investment Companies — 1.0%** | **Unaffiliated Investment Companies — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(2)<br> (cost $2,776,465) | 2776465 | &nbsp;&nbsp;&nbsp;&nbsp; 2776465 |
| **TOTAL INVESTMENTS<br> (cost $262,763,532)(3)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.9% | &nbsp;&nbsp;&nbsp;&nbsp;293530426 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367916 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$293898342 |

---

† Non-income producing security

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

(2) The rate shown is the 7-day yield as of July 31, 2025.

(3) See Note 4 for cost of investments on a tax basis.

CVR—Contingent Value Rights

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** |
| **Counterparty** | &nbsp;&nbsp;**Underlying<br> Reference** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Financing<br> Rate** | &nbsp;&nbsp;**Payment<br> Frequency** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Notional<br> Amount** | &nbsp;&nbsp;**Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value** |
| **Savings & Loans** |  |  |  |  |  |  |  |  |
| Bank of America Merrill Lynch | &nbsp;&nbsp;Provident Financial Services, Inc. | &nbsp;&nbsp; 162 | &nbsp;&nbsp;4.53% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;02/16/2028 | &nbsp;&nbsp;$3017 | &nbsp;&nbsp;$(65) | &nbsp;&nbsp;$(65) |
| Goldman Sachs and Co. LLC | &nbsp;&nbsp;WaFd, Inc. | &nbsp;&nbsp; 89 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;08/18/2026 | &nbsp;&nbsp;&nbsp; 2609 | &nbsp;&nbsp;&nbsp;&nbsp; (18) | &nbsp;&nbsp;&nbsp;&nbsp; (18) |
| HSBC Holdings | &nbsp;&nbsp;WSFS Financial Corp. | &nbsp;&nbsp; 19 | &nbsp;&nbsp;4.73 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;02/09/2028 | &nbsp;&nbsp;&nbsp; 1114 | &nbsp;&nbsp;&nbsp;&nbsp; (73) | &nbsp;&nbsp;&nbsp;&nbsp; (73) |
| JPMorgan Securities, LLC | &nbsp;&nbsp;Provident Financial Services, Inc. | &nbsp;&nbsp; 2396 | &nbsp;&nbsp;4.73 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;02/11/2026 | &nbsp;&nbsp;&nbsp; 44877 | &nbsp;&nbsp;&nbsp;&nbsp; (1222) | &nbsp;&nbsp;&nbsp;&nbsp; (1222) |
|  |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;(1378) | &nbsp;&nbsp;&nbsp;&nbsp;(1378) |
| **Banks** |  |  |  |  |  |  |  |  |
| Bank of America Merrill Lynch | &nbsp;&nbsp;Atlantic Union Bankshares Corp. | &nbsp;&nbsp; 92 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;02/16/2028 | &nbsp;&nbsp;&nbsp; 3073 | &nbsp;&nbsp;&nbsp;&nbsp; (157) | &nbsp;&nbsp;&nbsp;&nbsp; (157) |
| Bank of America Merrill Lynch | &nbsp;&nbsp;Fulton Financial Corp. | &nbsp;&nbsp; 79 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;02/16/2028 | &nbsp;&nbsp;&nbsp; 1503 | &nbsp;&nbsp;&nbsp;&nbsp; (84) | &nbsp;&nbsp;&nbsp;&nbsp; (84) |
| Bank of America Merrill Lynch | &nbsp;&nbsp;Cadence Bank | &nbsp;&nbsp; 90 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;02/16/2028 | &nbsp;&nbsp;&nbsp; 3151 | &nbsp;&nbsp;&nbsp;&nbsp; (14) | &nbsp;&nbsp;&nbsp;&nbsp; (14) |
| BNP Paribas | &nbsp;&nbsp;First BanCorp | &nbsp;&nbsp; 164 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;05/24/2027 | &nbsp;&nbsp;&nbsp; 3340 | &nbsp;&nbsp;&nbsp; 76 | &nbsp;&nbsp;&nbsp; 76 |
| BNP Paribas | &nbsp;&nbsp;Independent Bank Corp. | &nbsp;&nbsp; 2256 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;05/24/2027 | &nbsp;&nbsp;&nbsp; 71793 | &nbsp;&nbsp;&nbsp;&nbsp; (2872) | &nbsp;&nbsp;&nbsp;&nbsp; (2872) |
| BNP Paribas | &nbsp;&nbsp;BankUnited, Inc. | &nbsp;&nbsp; 83 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;05/24/2027 | &nbsp;&nbsp;&nbsp; 2958 | &nbsp;&nbsp;&nbsp; 69 | &nbsp;&nbsp;&nbsp; 69 |
| Goldman Sachs and Co. LLC | &nbsp;&nbsp;Cathay General Bancorp | &nbsp;&nbsp; 10 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;08/18/2026 | &nbsp;&nbsp;&nbsp; 472 | &nbsp;&nbsp;&nbsp;&nbsp; (20) | &nbsp;&nbsp;&nbsp;&nbsp; (20) |
| Goldman Sachs and Co. LLC | &nbsp;&nbsp;Preferred Bank | &nbsp;&nbsp; 1383 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;08/18/2026 | &nbsp;&nbsp;&nbsp;125065 | &nbsp;&nbsp;&nbsp; 539 | &nbsp;&nbsp;&nbsp; 539 |
| Goldman Sachs and Co. LLC | &nbsp;&nbsp;Cadence Bank | &nbsp;&nbsp; 2878 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;08/18/2026 | &nbsp;&nbsp;&nbsp; 97852 | &nbsp;&nbsp;&nbsp; 2446 | &nbsp;&nbsp;&nbsp; 2446 |
| HSBC Holdings | &nbsp;&nbsp;Fulton Financial Corp. | &nbsp;&nbsp; 317 | &nbsp;&nbsp;4.73 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;02/09/2028 | &nbsp;&nbsp;&nbsp; 6258 | &nbsp;&nbsp;&nbsp;&nbsp; (568) | &nbsp;&nbsp;&nbsp;&nbsp; (568) |
| HSBC Holdings | &nbsp;&nbsp;Pathward Financial, Inc. | &nbsp;&nbsp; 61 | &nbsp;&nbsp;4.73 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;02/09/2028 | &nbsp;&nbsp;&nbsp; 5099 | &nbsp;&nbsp;&nbsp;&nbsp; (486) | &nbsp;&nbsp;&nbsp;&nbsp; (486) |
| HSBC Holdings | &nbsp;&nbsp;Preferred Bank | &nbsp;&nbsp; 39 | &nbsp;&nbsp;4.73 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;02/09/2028 | &nbsp;&nbsp;&nbsp; 3628 | &nbsp;&nbsp;&nbsp;&nbsp; (86) | &nbsp;&nbsp;&nbsp;&nbsp; (86) |
|  |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;(1157) | &nbsp;&nbsp;&nbsp;&nbsp;(1157) |
| **Office/Business Equipment** |  |  |  |  |  |  |  |  |
| Goldman Sachs and Co. LLC | &nbsp;&nbsp;Pitney Bowes, Inc. | &nbsp;&nbsp; 7904 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;08/18/2026 | &nbsp;&nbsp;&nbsp; 92477 | &nbsp;&nbsp;&nbsp;&nbsp; (2687) | &nbsp;&nbsp;&nbsp;&nbsp; (2687) |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Small Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contracts For Difference Swaps — (continued)** | **Contracts For Difference Swaps — (continued)** | **Contracts For Difference Swaps — (continued)** | **Contracts For Difference Swaps — (continued)** | **Contracts For Difference Swaps — (continued)** | **Contracts For Difference Swaps — (continued)** | **Contracts For Difference Swaps — (continued)** | **Contracts For Difference Swaps — (continued)** | **Contracts For Difference Swaps — (continued)** |
| **Counterparty** | &nbsp;&nbsp;**Underlying<br> Reference** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Financing<br> Rate** | &nbsp;&nbsp;**Payment<br> Frequency** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Notional<br> Amount** | &nbsp;&nbsp;**Unrealized<br> Appreciation/<br> (Depreciation)** | &nbsp;&nbsp;**Value** |
| **Diversified Financial Services** |  |  |  |  |  |  |  |  |
| Bank of America Merrill Lynch | &nbsp;&nbsp;Bread Financial Holdings, Inc. | &nbsp;&nbsp; 3568 | &nbsp;&nbsp;4.53% | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;02/16/2028 | &nbsp;&nbsp;$214366 | &nbsp;&nbsp;$4353 | &nbsp;&nbsp;$4353 |
| Bank of America Merrill Lynch | &nbsp;&nbsp;Moelis & Co., Class A | &nbsp;&nbsp; 42 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;02/16/2028 | &nbsp;&nbsp;&nbsp; 3017 | &nbsp;&nbsp;&nbsp;&nbsp; (71) | &nbsp;&nbsp;&nbsp;&nbsp; (71) |
| BNP Paribas | &nbsp;&nbsp;Moelis & Co., Class A | &nbsp;&nbsp; 3163 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;05/24/2027 | &nbsp;&nbsp;&nbsp;182416 | &nbsp;&nbsp;&nbsp; 39436 | &nbsp;&nbsp;&nbsp; 39436 |
|  |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;43718 | &nbsp;&nbsp;&nbsp;&nbsp;43718 |
| **REITS** |  |  |  |  |  |  |  |  |
| BNP Paribas | &nbsp;&nbsp;JBG SMITH Properties | &nbsp;&nbsp; 823 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;05/24/2027 | &nbsp;&nbsp;&nbsp; 13495 | &nbsp;&nbsp;&nbsp; 3936 | &nbsp;&nbsp;&nbsp; 3936 |
| BNP Paribas | &nbsp;&nbsp;Arbor Realty Trust, Inc. | &nbsp;&nbsp; 4447 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;05/24/2027 | &nbsp;&nbsp;&nbsp; 41700 | &nbsp;&nbsp;&nbsp; 7928 | &nbsp;&nbsp;&nbsp; 7928 |
| BNP Paribas | &nbsp;&nbsp;Douglas Emmett, Inc. | &nbsp;&nbsp; 3585 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;05/24/2027 | &nbsp;&nbsp;&nbsp; 50721 | &nbsp;&nbsp;&nbsp; 3628 | &nbsp;&nbsp;&nbsp; 3628 |
| Goldman Sachs and Co. LLC | &nbsp;&nbsp;Arbor Realty Trust, Inc. | &nbsp;&nbsp; 262 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;08/18/2026 | &nbsp;&nbsp;&nbsp; 2977 | &nbsp;&nbsp;&nbsp;&nbsp; (53) | &nbsp;&nbsp;&nbsp;&nbsp; (53) |
| Goldman Sachs and Co. LLC | &nbsp;&nbsp;Douglas Emmett, Inc. | &nbsp;&nbsp; 194 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;08/18/2026 | &nbsp;&nbsp;&nbsp; 3071 | &nbsp;&nbsp;&nbsp;&nbsp; (130) | &nbsp;&nbsp;&nbsp;&nbsp; (130) |
|  |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;15309 | &nbsp;&nbsp;&nbsp;&nbsp;15309 |
| **Insurance** |  |  |  |  |  |  |  |  |
| Bank of America Merrill Lynch | &nbsp;&nbsp;SiriusPoint, Ltd. | &nbsp;&nbsp; 1022 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;02/16/2028 | &nbsp;&nbsp;&nbsp; 18784 | &nbsp;&nbsp;&nbsp; 1257 | &nbsp;&nbsp;&nbsp; 1257 |
| BNP Paribas | &nbsp;&nbsp;Genworth Financial, Inc., | &nbsp;&nbsp; 1048 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;05/24/2027 | &nbsp;&nbsp;&nbsp; 7303 | &nbsp;&nbsp;&nbsp; 935 | &nbsp;&nbsp;&nbsp; 935 |
| BNP Paribas | &nbsp;&nbsp;Jackson Financial, Inc., Class A | &nbsp;&nbsp; 8220 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;05/24/2027 | &nbsp;&nbsp;&nbsp;669010 | &nbsp;&nbsp;&nbsp; 50734 | &nbsp;&nbsp;&nbsp; 50734 |
| Goldman Sachs and Co. LLC | &nbsp;&nbsp;Employers Holdings, Inc. | &nbsp;&nbsp; 48 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;08/18/2026 | &nbsp;&nbsp;&nbsp; 2200 | &nbsp;&nbsp;&nbsp;&nbsp; (219) | &nbsp;&nbsp;&nbsp;&nbsp; (219) |
| HSBC Holdings | &nbsp;&nbsp;SiriusPoint, Ltd. | &nbsp;&nbsp;10636 | &nbsp;&nbsp;4.73 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;02/09/2028 | &nbsp;&nbsp;&nbsp;205381 | &nbsp;&nbsp;&nbsp; 3191 | &nbsp;&nbsp;&nbsp; 3191 |
|  |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;55898 | &nbsp;&nbsp;&nbsp;&nbsp;55898 |
| **Energy-Alternate Sources** |  |  |  |  |  |  |  |  |
| HSBC Holdings | &nbsp;&nbsp;Green Plains, Inc. | &nbsp;&nbsp; 16 | &nbsp;&nbsp;4.73 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;02/09/2028 | &nbsp;&nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp; 17 |
| **Commercial Services** |  |  |  |  |  |  |  |  |
| BNP Paribas | &nbsp;&nbsp;Perdoceo Education Corp. | &nbsp;&nbsp; 200 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;05/24/2027 | &nbsp;&nbsp;&nbsp; 6190 | &nbsp;&nbsp;&nbsp;&nbsp; (435) | &nbsp;&nbsp;&nbsp;&nbsp; (435) |
| BNP Paribas | &nbsp;&nbsp;City Office REIT, Inc. | &nbsp;&nbsp; 4409 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;05/24/2027 | &nbsp;&nbsp;&nbsp; 20890 | &nbsp;&nbsp;&nbsp; 9709 | &nbsp;&nbsp;&nbsp; 9709 |
|  |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9274 |
| **Chemicals** |  |  |  |  |  |  |  |  |
| BNP Paribas | &nbsp;&nbsp;Rogers Corp. | &nbsp;&nbsp; 42 | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;Monthly | &nbsp;&nbsp;05/24/2027 | &nbsp;&nbsp;&nbsp; 2879 | &nbsp;&nbsp;&nbsp;&nbsp; (125) | &nbsp;&nbsp;&nbsp;&nbsp; (125) |
|  |  |  |  |  |  |  | &nbsp;&nbsp;$118869 | &nbsp;&nbsp;$118869 |

---

#### Futures Contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number<br> of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Expiration<br> Month** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Basis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Value\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
| 12 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;E-Mini Russell 2000 Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$1349517 | &nbsp;&nbsp;&nbsp;&nbsp;$1332120 | &nbsp;&nbsp;&nbsp;&nbsp;$(17397) |

---

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

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA Small Cap Index Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;$18490699 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$9934 | &nbsp;&nbsp;$18500633 |
| &nbsp;&nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7601821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7602177 |
| &nbsp;&nbsp;&nbsp;Other Industries | &nbsp;&nbsp;&nbsp;&nbsp;264651151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;264651151 |
| Rights | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2776465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2776465 |
| **Total Investments at Value** | &nbsp;&nbsp;$293520136 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$10290 | &nbsp;&nbsp;$293530426 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Swaps | &nbsp;&nbsp;$— | &nbsp;&nbsp;$128254 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$128254 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Swaps | &nbsp;&nbsp;$— | &nbsp;&nbsp;$9385 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$9385 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17397 |
| **Total Other Financial Instruments** | &nbsp;&nbsp;$17397 | &nbsp;&nbsp;$9385 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$26782 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | &nbsp;&nbsp;Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

Level 3 investments in securities were not considered a significant portion of the Portfolio's net assets.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 79.8%** | **COMMON STOCKS — 79.8%** | **COMMON STOCKS — 79.8%** |
| **Advertising — 0.0%** | **Advertising — 0.0%** | **Advertising — 0.0%** |
| &nbsp;&nbsp;&nbsp;WPP PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40002 | &nbsp;&nbsp;$216597 |
| **Aerospace/Defense — 2.3%** | **Aerospace/Defense — 2.3%** | **Aerospace/Defense — 2.3%** |
| &nbsp;&nbsp;&nbsp;Boeing Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2159 | &nbsp;&nbsp;&nbsp;&nbsp; 478953 |
| &nbsp;&nbsp;&nbsp;Curtiss-Wright Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474 | &nbsp;&nbsp;&nbsp;&nbsp; 232364 |
| &nbsp;&nbsp;&nbsp;General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24400 | &nbsp;&nbsp;&nbsp;&nbsp; 6614352 |
| &nbsp;&nbsp;&nbsp;HEICO Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747 | &nbsp;&nbsp;&nbsp;&nbsp; 192793 |
| &nbsp;&nbsp;&nbsp;Hexcel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2441 | &nbsp;&nbsp;&nbsp;&nbsp; 146240 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9155 | &nbsp;&nbsp;&nbsp;&nbsp; 1645794 |
| &nbsp;&nbsp;&nbsp;Karman Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1169 | &nbsp;&nbsp;&nbsp;&nbsp; 60437 |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4120 | &nbsp;&nbsp;&nbsp;&nbsp; 1132258 |
| &nbsp;&nbsp;&nbsp;Loar Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp; 81301 |
| &nbsp;&nbsp;&nbsp;Melrose Industries PLC | &nbsp;&nbsp;&nbsp;&nbsp;149516 | &nbsp;&nbsp;&nbsp;&nbsp; 1011381 |
| &nbsp;&nbsp;&nbsp;Moog, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403 | &nbsp;&nbsp;&nbsp;&nbsp; 78013 |
| &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4363 | &nbsp;&nbsp;&nbsp;&nbsp; 2515750 |
| &nbsp;&nbsp;&nbsp;Rheinmetall AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382 | &nbsp;&nbsp;&nbsp;&nbsp; 756571 |
| &nbsp;&nbsp;&nbsp;Rocket Lab Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1921 | &nbsp;&nbsp;&nbsp;&nbsp; 88212 |
| &nbsp;&nbsp;&nbsp;RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885 | &nbsp;&nbsp;&nbsp;&nbsp; 139450 |
| &nbsp;&nbsp;&nbsp;Safran SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5293 | &nbsp;&nbsp;&nbsp;&nbsp; 1748687 |
| &nbsp;&nbsp;&nbsp;Spirit AeroSystems Holdings, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2223 | &nbsp;&nbsp;&nbsp;&nbsp; 87586 |
| &nbsp;&nbsp;&nbsp;Standardaero, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3017 | &nbsp;&nbsp;&nbsp;&nbsp; 86135 |
| &nbsp;&nbsp;&nbsp;Thales SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1781 | &nbsp;&nbsp;&nbsp;&nbsp; 479258 |
| &nbsp;&nbsp;&nbsp;TransDigm Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284 | &nbsp;&nbsp;&nbsp;&nbsp; 456803 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;18032338 |
| **Agriculture — 0.3%** | **Agriculture — 0.3%** | **Agriculture — 0.3%** |
| &nbsp;&nbsp;&nbsp;Altria Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3091 | &nbsp;&nbsp;&nbsp;&nbsp; 191457 |
| &nbsp;&nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10748 | &nbsp;&nbsp;&nbsp;&nbsp; 1763209 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1954666 |
| **Airlines — 0.1%** | **Airlines — 0.1%** | **Airlines — 0.1%** |
| &nbsp;&nbsp;&nbsp;American Airlines Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4729 | &nbsp;&nbsp;&nbsp;&nbsp; 54336 |
| &nbsp;&nbsp;&nbsp;Ryanair Holdings PLC ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10001 | &nbsp;&nbsp;&nbsp;&nbsp; 622762 |
| &nbsp;&nbsp;&nbsp;United Airlines Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;957 | &nbsp;&nbsp;&nbsp;&nbsp; 84513 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761611 |
| **Apparel — 0.3%** | **Apparel — 0.3%** | **Apparel — 0.3%** |
| &nbsp;&nbsp;&nbsp;Asics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28300 | &nbsp;&nbsp;&nbsp;&nbsp; 669592 |
| &nbsp;&nbsp;&nbsp;Crocs, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419 | &nbsp;&nbsp;&nbsp;&nbsp; 41787 |
| &nbsp;&nbsp;&nbsp;Kering SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2530 | &nbsp;&nbsp;&nbsp;&nbsp; 625086 |
| &nbsp;&nbsp;&nbsp;NIKE, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7641 | &nbsp;&nbsp;&nbsp;&nbsp; 570706 |
| &nbsp;&nbsp;&nbsp;Oxford Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278 | &nbsp;&nbsp;&nbsp;&nbsp; 10614 |
| &nbsp;&nbsp;&nbsp;Samsonite Group SA\* | &nbsp;&nbsp;&nbsp;&nbsp;144000 | &nbsp;&nbsp;&nbsp;&nbsp; 294604 |
| &nbsp;&nbsp;&nbsp;Skechers USA, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1187 | &nbsp;&nbsp;&nbsp;&nbsp; 75078 |
| &nbsp;&nbsp;&nbsp;Tapestry, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442 | &nbsp;&nbsp;&nbsp;&nbsp; 47749 |
| &nbsp;&nbsp;&nbsp;VF Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8228 | &nbsp;&nbsp;&nbsp;&nbsp; 96432 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2431648 |
| **Auto Manufacturers — 0.9%** | **Auto Manufacturers — 0.9%** | **Auto Manufacturers — 0.9%** |
| &nbsp;&nbsp;&nbsp;Cummins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633 | &nbsp;&nbsp;&nbsp;&nbsp; 232704 |
| &nbsp;&nbsp;&nbsp;General Motors Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1551 | &nbsp;&nbsp;&nbsp;&nbsp; 82730 |
| &nbsp;&nbsp;&nbsp;Rivian Automotive, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6638 | &nbsp;&nbsp;&nbsp;&nbsp; 85431 |
| &nbsp;&nbsp;&nbsp;Subaru Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24600 | &nbsp;&nbsp;&nbsp;&nbsp; 453420 |
| &nbsp;&nbsp;&nbsp;Suzuki Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53200 | &nbsp;&nbsp;&nbsp;&nbsp; 587917 |
| &nbsp;&nbsp;&nbsp;Tesla, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13012 | &nbsp;&nbsp;&nbsp;&nbsp; 4011209 |
| &nbsp;&nbsp;&nbsp;Toyota Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81000 | &nbsp;&nbsp;&nbsp;&nbsp; 1448385 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6901796 |
| **Auto Parts & Equipment — 0.3%** | **Auto Parts & Equipment — 0.3%** | **Auto Parts & Equipment — 0.3%** |
| &nbsp;&nbsp;&nbsp;Adient PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1615 | &nbsp;&nbsp;&nbsp;&nbsp; 34626 |
| &nbsp;&nbsp;&nbsp;Autoliv, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1587 | &nbsp;&nbsp;&nbsp;&nbsp; 177030 |
| &nbsp;&nbsp;&nbsp;Autoliv, Inc. SDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7383 | &nbsp;&nbsp;&nbsp;&nbsp; 822072 |
| &nbsp;&nbsp;&nbsp;Denso Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46800 | &nbsp;&nbsp;&nbsp;&nbsp; 638069 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Auto Parts & Equipment (continued)** | **Auto Parts & Equipment (continued)** | **Auto Parts & Equipment (continued)** |
| &nbsp;&nbsp;&nbsp;Dorman Products, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;$50057 |
| &nbsp;&nbsp;&nbsp;Dowlais Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;175212 | &nbsp;&nbsp;&nbsp;&nbsp; 162670 |
| &nbsp;&nbsp;&nbsp;Magna International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2195 | &nbsp;&nbsp;&nbsp;&nbsp; 89995 |
| &nbsp;&nbsp;&nbsp;Standard Motor Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1306 | &nbsp;&nbsp;&nbsp;&nbsp; 39650 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2014169 |
| **Banks — 5.9%** | **Banks — 5.9%** | **Banks — 5.9%** |
| &nbsp;&nbsp;&nbsp;ABN AMRO Bank NV CVA\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14194 | &nbsp;&nbsp;&nbsp;&nbsp; 410786 |
| &nbsp;&nbsp;&nbsp;ANZ Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35138 | &nbsp;&nbsp;&nbsp;&nbsp; 693702 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | &nbsp;&nbsp;&nbsp;&nbsp;138200 | &nbsp;&nbsp;&nbsp;&nbsp; 1188531 |
| &nbsp;&nbsp;&nbsp;Bancorp, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1997 | &nbsp;&nbsp;&nbsp;&nbsp; 126130 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89266 | &nbsp;&nbsp;&nbsp;&nbsp; 4219604 |
| &nbsp;&nbsp;&nbsp;Bank of Hawaii Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856 | &nbsp;&nbsp;&nbsp;&nbsp; 52969 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1967 | &nbsp;&nbsp;&nbsp;&nbsp; 199552 |
| &nbsp;&nbsp;&nbsp;BankUnited, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2157 | &nbsp;&nbsp;&nbsp;&nbsp; 78666 |
| &nbsp;&nbsp;&nbsp;Barclays PLC | &nbsp;&nbsp;&nbsp;&nbsp;165610 | &nbsp;&nbsp;&nbsp;&nbsp; 812081 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15055 | &nbsp;&nbsp;&nbsp;&nbsp; 1410653 |
| &nbsp;&nbsp;&nbsp;Commerce Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1788 | &nbsp;&nbsp;&nbsp;&nbsp; 109426 |
| &nbsp;&nbsp;&nbsp;Cullen/Frost Bankers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711 | &nbsp;&nbsp;&nbsp;&nbsp; 90588 |
| &nbsp;&nbsp;&nbsp;DBS Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28800 | &nbsp;&nbsp;&nbsp;&nbsp; 1062699 |
| &nbsp;&nbsp;&nbsp;Dime Community Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp; 21614 |
| &nbsp;&nbsp;&nbsp;DNB Bank ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51901 | &nbsp;&nbsp;&nbsp;&nbsp; 1316764 |
| &nbsp;&nbsp;&nbsp;East West Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1646 | &nbsp;&nbsp;&nbsp;&nbsp; 165011 |
| &nbsp;&nbsp;&nbsp;Erste Group Bank AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7103 | &nbsp;&nbsp;&nbsp;&nbsp; 652933 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2904 | &nbsp;&nbsp;&nbsp;&nbsp; 120719 |
| &nbsp;&nbsp;&nbsp;First BanCorp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8211 | &nbsp;&nbsp;&nbsp;&nbsp; 171035 |
| &nbsp;&nbsp;&nbsp;First Citizens BancShares, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64 | &nbsp;&nbsp;&nbsp;&nbsp; 127665 |
| &nbsp;&nbsp;&nbsp;First Financial Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2632 | &nbsp;&nbsp;&nbsp;&nbsp; 91120 |
| &nbsp;&nbsp;&nbsp;FNB Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5678 | &nbsp;&nbsp;&nbsp;&nbsp; 86987 |
| &nbsp;&nbsp;&nbsp;Glacier Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2078 | &nbsp;&nbsp;&nbsp;&nbsp; 91079 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3108 | &nbsp;&nbsp;&nbsp;&nbsp; 2248918 |
| &nbsp;&nbsp;&nbsp;HDFC Bank, Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11187 | &nbsp;&nbsp;&nbsp;&nbsp; 858826 |
| &nbsp;&nbsp;&nbsp;Hilltop Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2170 | &nbsp;&nbsp;&nbsp;&nbsp; 64232 |
| &nbsp;&nbsp;&nbsp;Home BancShares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3195 | &nbsp;&nbsp;&nbsp;&nbsp; 89971 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7609 | &nbsp;&nbsp;&nbsp;&nbsp; 125016 |
| &nbsp;&nbsp;&nbsp;ING Groep NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55227 | &nbsp;&nbsp;&nbsp;&nbsp; 1291383 |
| &nbsp;&nbsp;&nbsp;Intesa Sanpaolo SpA | &nbsp;&nbsp;&nbsp;&nbsp;150403 | &nbsp;&nbsp;&nbsp;&nbsp; 908833 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31642 | &nbsp;&nbsp;&nbsp;&nbsp; 9373626 |
| &nbsp;&nbsp;&nbsp;KeyCorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54294 | &nbsp;&nbsp;&nbsp;&nbsp; 972948 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;990267 | &nbsp;&nbsp;&nbsp;&nbsp; 1017465 |
| &nbsp;&nbsp;&nbsp;Macquarie Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5707 | &nbsp;&nbsp;&nbsp;&nbsp; 797264 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;111500 | &nbsp;&nbsp;&nbsp;&nbsp; 1560482 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15460 | &nbsp;&nbsp;&nbsp;&nbsp; 2202432 |
| &nbsp;&nbsp;&nbsp;National Bank of Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8374 | &nbsp;&nbsp;&nbsp;&nbsp; 871063 |
| &nbsp;&nbsp;&nbsp;OFG Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2547 | &nbsp;&nbsp;&nbsp;&nbsp; 108553 |
| &nbsp;&nbsp;&nbsp;Pathward Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;917 | &nbsp;&nbsp;&nbsp;&nbsp; 69348 |
| &nbsp;&nbsp;&nbsp;Pinnacle Financial Partners, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978 | &nbsp;&nbsp;&nbsp;&nbsp; 85956 |
| &nbsp;&nbsp;&nbsp;Popular, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2427 | &nbsp;&nbsp;&nbsp;&nbsp; 278086 |
| &nbsp;&nbsp;&nbsp;Prosperity Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1364 | &nbsp;&nbsp;&nbsp;&nbsp; 90870 |
| &nbsp;&nbsp;&nbsp;Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49465 | &nbsp;&nbsp;&nbsp;&nbsp; 866083 |
| &nbsp;&nbsp;&nbsp;Societe Generale SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19656 | &nbsp;&nbsp;&nbsp;&nbsp; 1255262 |
| &nbsp;&nbsp;&nbsp;SouthState Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1145 | &nbsp;&nbsp;&nbsp;&nbsp; 107825 |
| &nbsp;&nbsp;&nbsp;Standard Chartered PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63386 | &nbsp;&nbsp;&nbsp;&nbsp; 1138884 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1157 | &nbsp;&nbsp;&nbsp;&nbsp; 129295 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Trust Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24500 | &nbsp;&nbsp;&nbsp;&nbsp; 646131 |
| &nbsp;&nbsp;&nbsp;Truist Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;877 | &nbsp;&nbsp;&nbsp;&nbsp; 38334 |
| &nbsp;&nbsp;&nbsp;UBS Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22438 | &nbsp;&nbsp;&nbsp;&nbsp; 840890 |
| &nbsp;&nbsp;&nbsp;UniCredit SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20066 | &nbsp;&nbsp;&nbsp;&nbsp; 1479982 |
| &nbsp;&nbsp;&nbsp;United Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2328 | &nbsp;&nbsp;&nbsp;&nbsp; 82691 |
| &nbsp;&nbsp;&nbsp;United Overseas Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27900 | &nbsp;&nbsp;&nbsp;&nbsp; 777650 |
| &nbsp;&nbsp;&nbsp;US Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5193 | &nbsp;&nbsp;&nbsp;&nbsp; 233477 |
| &nbsp;&nbsp;&nbsp;Webster Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3684 | &nbsp;&nbsp;&nbsp;&nbsp; 212383 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13712 | &nbsp;&nbsp;&nbsp;&nbsp; 1105598 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;Western Alliance Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3017 | &nbsp;&nbsp;$233998 |
| &nbsp;&nbsp;&nbsp;Zions Bancorp NA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1430 | &nbsp;&nbsp;&nbsp;&nbsp; 76677 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;45540746 |
| **Beverages — 0.5%** | **Beverages — 0.5%** | **Beverages — 0.5%** |
| &nbsp;&nbsp;&nbsp;Boston Beer Co., Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp; 24850 |
| &nbsp;&nbsp;&nbsp;Celsius Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1720 | &nbsp;&nbsp;&nbsp;&nbsp; 77985 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29877 | &nbsp;&nbsp;&nbsp;&nbsp; 2028349 |
| &nbsp;&nbsp;&nbsp;Diageo PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24590 | &nbsp;&nbsp;&nbsp;&nbsp; 601758 |
| &nbsp;&nbsp;&nbsp;Heineken NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10118 | &nbsp;&nbsp;&nbsp;&nbsp; 797412 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7744 | &nbsp;&nbsp;&nbsp;&nbsp; 252842 |
| &nbsp;&nbsp;&nbsp;Monster Beverage Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1919 | &nbsp;&nbsp;&nbsp;&nbsp; 112741 |
| &nbsp;&nbsp;&nbsp;PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2135 | &nbsp;&nbsp;&nbsp;&nbsp; 294459 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4190396 |
| **Biotechnology — 0.8%** | **Biotechnology — 0.8%** | **Biotechnology — 0.8%** |
| &nbsp;&nbsp;&nbsp;ACADIA Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp;&nbsp; 32171 |
| &nbsp;&nbsp;&nbsp;Akero Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2135 | &nbsp;&nbsp;&nbsp;&nbsp; 104295 |
| &nbsp;&nbsp;&nbsp;Alnylam Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936 | &nbsp;&nbsp;&nbsp;&nbsp; 367137 |
| &nbsp;&nbsp;&nbsp;Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266 | &nbsp;&nbsp;&nbsp;&nbsp; 78497 |
| &nbsp;&nbsp;&nbsp;Apogee Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp;&nbsp;&nbsp; 20852 |
| &nbsp;&nbsp;&nbsp;Argenx SE ADR† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080 | &nbsp;&nbsp;&nbsp;&nbsp; 723956 |
| &nbsp;&nbsp;&nbsp;Avidity Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2264 | &nbsp;&nbsp;&nbsp;&nbsp; 83111 |
| &nbsp;&nbsp;&nbsp;BeOneMedicines, Ltd. ADR† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288 | &nbsp;&nbsp;&nbsp;&nbsp; 86725 |
| &nbsp;&nbsp;&nbsp;Biohaven, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3729 | &nbsp;&nbsp;&nbsp;&nbsp; 56308 |
| &nbsp;&nbsp;&nbsp;Cargo Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3384 | &nbsp;&nbsp;&nbsp;&nbsp; 15126 |
| &nbsp;&nbsp;&nbsp;Celldex Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1478 | &nbsp;&nbsp;&nbsp;&nbsp; 32486 |
| &nbsp;&nbsp;&nbsp;CG oncology, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1117 | &nbsp;&nbsp;&nbsp;&nbsp; 29813 |
| &nbsp;&nbsp;&nbsp;Corteva, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1202 | &nbsp;&nbsp;&nbsp;&nbsp; 86700 |
| &nbsp;&nbsp;&nbsp;Crinetics Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1364 | &nbsp;&nbsp;&nbsp;&nbsp; 38997 |
| &nbsp;&nbsp;&nbsp;Denali Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3734 | &nbsp;&nbsp;&nbsp;&nbsp; 51641 |
| &nbsp;&nbsp;&nbsp;Entrada Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1423 | &nbsp;&nbsp;&nbsp;&nbsp; 8367 |
| &nbsp;&nbsp;&nbsp;EyePoint Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3235 | &nbsp;&nbsp;&nbsp;&nbsp; 31768 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23009 | &nbsp;&nbsp;&nbsp;&nbsp; 2583681 |
| &nbsp;&nbsp;&nbsp;Ideaya Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1099 | &nbsp;&nbsp;&nbsp;&nbsp; 26761 |
| &nbsp;&nbsp;&nbsp;Illumina, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977 | &nbsp;&nbsp;&nbsp;&nbsp; 100348 |
| &nbsp;&nbsp;&nbsp;Insmed, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2552 | &nbsp;&nbsp;&nbsp;&nbsp; 273779 |
| &nbsp;&nbsp;&nbsp;Ionis Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1676 | &nbsp;&nbsp;&nbsp;&nbsp; 72034 |
| &nbsp;&nbsp;&nbsp;Kymera Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2252 | &nbsp;&nbsp;&nbsp;&nbsp; 98525 |
| &nbsp;&nbsp;&nbsp;Nurix Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6321 | &nbsp;&nbsp;&nbsp;&nbsp; 71174 |
| &nbsp;&nbsp;&nbsp;Oruka Therapeutics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1182 | &nbsp;&nbsp;&nbsp;&nbsp; 16063 |
| &nbsp;&nbsp;&nbsp;Pliant Therapeutics Inc† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25373 | &nbsp;&nbsp;&nbsp;&nbsp; 37045 |
| &nbsp;&nbsp;&nbsp;Praxis Precision Medicines, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845 | &nbsp;&nbsp;&nbsp;&nbsp; 45816 |
| &nbsp;&nbsp;&nbsp;Rapport Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1390 | &nbsp;&nbsp;&nbsp;&nbsp; 19960 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp;&nbsp;&nbsp; 182729 |
| &nbsp;&nbsp;&nbsp;Relay Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6121 | &nbsp;&nbsp;&nbsp;&nbsp; 21546 |
| &nbsp;&nbsp;&nbsp;Replimune Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5249 | &nbsp;&nbsp;&nbsp;&nbsp; 36900 |
| &nbsp;&nbsp;&nbsp;Revolution Medicines, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2392 | &nbsp;&nbsp;&nbsp;&nbsp; 89150 |
| &nbsp;&nbsp;&nbsp;Rexahn Pharmaceuticals, Inc. CVR†(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;839 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;Rocket Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1785 | &nbsp;&nbsp;&nbsp;&nbsp; 5444 |
| &nbsp;&nbsp;&nbsp;Scholar Rock Holding Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2157 | &nbsp;&nbsp;&nbsp;&nbsp; 79917 |
| &nbsp;&nbsp;&nbsp;Soleno Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751 | &nbsp;&nbsp;&nbsp;&nbsp; 64939 |
| &nbsp;&nbsp;&nbsp;Ultragenyx Pharmaceutical, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1596 | &nbsp;&nbsp;&nbsp;&nbsp; 43603 |
| &nbsp;&nbsp;&nbsp;United Therapeutics Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64 | &nbsp;&nbsp;&nbsp;&nbsp; 17581 |
| &nbsp;&nbsp;&nbsp;Vera Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2242 | &nbsp;&nbsp;&nbsp;&nbsp; 46611 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;827 | &nbsp;&nbsp;&nbsp;&nbsp; 377831 |
| &nbsp;&nbsp;&nbsp;Wave Life Sciences, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5257 | &nbsp;&nbsp;&nbsp;&nbsp; 42582 |
| &nbsp;&nbsp;&nbsp;Xencor, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2971 | &nbsp;&nbsp;&nbsp;&nbsp; 24719 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6226688 |
| **Building Materials — 0.5%** | **Building Materials — 0.5%** | **Building Materials — 0.5%** |
| &nbsp;&nbsp;&nbsp;Armstrong World Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;905 | &nbsp;&nbsp;&nbsp;&nbsp; 170294 |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2121 | &nbsp;&nbsp;&nbsp;&nbsp; 145543 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Building Materials (continued)** | **Building Materials (continued)** | **Building Materials (continued)** |
| &nbsp;&nbsp;&nbsp;CRH PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4318 | &nbsp;&nbsp;$412153 |
| &nbsp;&nbsp;&nbsp;Gibraltar Industries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969 | &nbsp;&nbsp;&nbsp;&nbsp; 63983 |
| &nbsp;&nbsp;&nbsp;Griffon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1487 | &nbsp;&nbsp;&nbsp;&nbsp; 120849 |
| &nbsp;&nbsp;&nbsp;Holcim AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6686 | &nbsp;&nbsp;&nbsp;&nbsp; 534880 |
| &nbsp;&nbsp;&nbsp;Johnson Controls International PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001 | &nbsp;&nbsp;&nbsp;&nbsp; 105105 |
| &nbsp;&nbsp;&nbsp;Kingspan Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4042 | &nbsp;&nbsp;&nbsp;&nbsp; 335115 |
| &nbsp;&nbsp;&nbsp;Knife River Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1078 | &nbsp;&nbsp;&nbsp;&nbsp; 88913 |
| &nbsp;&nbsp;&nbsp;Louisiana-Pacific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1207 | &nbsp;&nbsp;&nbsp;&nbsp; 109125 |
| &nbsp;&nbsp;&nbsp;Modine Manufacturing Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593 | &nbsp;&nbsp;&nbsp;&nbsp; 79794 |
| &nbsp;&nbsp;&nbsp;Owens Corning | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3955 | &nbsp;&nbsp;&nbsp;&nbsp; 551446 |
| &nbsp;&nbsp;&nbsp;Trane Technologies PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2305 | &nbsp;&nbsp;&nbsp;&nbsp; 1009774 |
| &nbsp;&nbsp;&nbsp;Trex Co., Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2864 | &nbsp;&nbsp;&nbsp;&nbsp; 183983 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485 | &nbsp;&nbsp;&nbsp;&nbsp; 133215 |
| &nbsp;&nbsp;&nbsp;West Fraser Timber Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1228 | &nbsp;&nbsp;&nbsp;&nbsp; 85113 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4129285 |
| **Chemicals — 1.6%** | **Chemicals — 1.6%** | **Chemicals — 1.6%** |
| &nbsp;&nbsp;&nbsp;Air Liquide SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6275 | &nbsp;&nbsp;&nbsp;&nbsp; 1237425 |
| &nbsp;&nbsp;&nbsp;Akzo Nobel NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6374 | &nbsp;&nbsp;&nbsp;&nbsp; 400652 |
| &nbsp;&nbsp;&nbsp;Axalta Coating Systems, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1670 | &nbsp;&nbsp;&nbsp;&nbsp; 47294 |
| &nbsp;&nbsp;&nbsp;BASF SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11239 | &nbsp;&nbsp;&nbsp;&nbsp; 553568 |
| &nbsp;&nbsp;&nbsp;Celanese Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736 | &nbsp;&nbsp;&nbsp;&nbsp; 38441 |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp;&nbsp;&nbsp; 52449 |
| &nbsp;&nbsp;&nbsp;Covestro AG† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7622 | &nbsp;&nbsp;&nbsp;&nbsp; 516674 |
| &nbsp;&nbsp;&nbsp;Dow, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;899 | &nbsp;&nbsp;&nbsp;&nbsp; 20938 |
| &nbsp;&nbsp;&nbsp;Element Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4284 | &nbsp;&nbsp;&nbsp;&nbsp; 101102 |
| &nbsp;&nbsp;&nbsp;H.B. Fuller Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1017 | &nbsp;&nbsp;&nbsp;&nbsp; 57155 |
| &nbsp;&nbsp;&nbsp;Huntsman Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5256 | &nbsp;&nbsp;&nbsp;&nbsp; 50983 |
| &nbsp;&nbsp;&nbsp;Johnson Matthey PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3408 | &nbsp;&nbsp;&nbsp;&nbsp; 79574 |
| &nbsp;&nbsp;&nbsp;Koppers Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp;&nbsp;&nbsp; 24974 |
| &nbsp;&nbsp;&nbsp;Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8480 | &nbsp;&nbsp;&nbsp;&nbsp; 3903005 |
| &nbsp;&nbsp;&nbsp;Minerals Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768 | &nbsp;&nbsp;&nbsp;&nbsp; 44659 |
| &nbsp;&nbsp;&nbsp;Mosaic Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1608 | &nbsp;&nbsp;&nbsp;&nbsp; 57904 |
| &nbsp;&nbsp;&nbsp;PPG Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp; 474750 |
| &nbsp;&nbsp;&nbsp;RPM International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4988 | &nbsp;&nbsp;&nbsp;&nbsp; 585641 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10370 | &nbsp;&nbsp;&nbsp;&nbsp; 3431226 |
| &nbsp;&nbsp;&nbsp;Shin-Etsu Chemical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27100 | &nbsp;&nbsp;&nbsp;&nbsp; 789818 |
| &nbsp;&nbsp;&nbsp;Tronox Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2451 | &nbsp;&nbsp;&nbsp;&nbsp; 7819 |
| &nbsp;&nbsp;&nbsp;Westlake Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp; 39254 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;12515305 |
| **Coal — 0.0%** | **Coal — 0.0%** | **Coal — 0.0%** |
| &nbsp;&nbsp;&nbsp;Warrior Met Coal, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2218 | &nbsp;&nbsp;&nbsp;&nbsp; 113961 |
| **Commercial Services — 1.5%** | **Commercial Services — 1.5%** | **Commercial Services — 1.5%** |
| &nbsp;&nbsp;&nbsp;Adyen NV\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342 | &nbsp;&nbsp;&nbsp;&nbsp; 589572 |
| &nbsp;&nbsp;&nbsp;Affirm Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1734 | &nbsp;&nbsp;&nbsp;&nbsp; 118883 |
| &nbsp;&nbsp;&nbsp;API Group Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9721 | &nbsp;&nbsp;&nbsp;&nbsp; 350636 |
| &nbsp;&nbsp;&nbsp;Ashtead Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3818 | &nbsp;&nbsp;&nbsp;&nbsp; 256045 |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2492 | &nbsp;&nbsp;&nbsp;&nbsp; 771274 |
| &nbsp;&nbsp;&nbsp;Avis Budget Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333 | &nbsp;&nbsp;&nbsp;&nbsp; 56690 |
| &nbsp;&nbsp;&nbsp;Block, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3763 | &nbsp;&nbsp;&nbsp;&nbsp; 290729 |
| &nbsp;&nbsp;&nbsp;Booz Allen Hamilton Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3350 | &nbsp;&nbsp;&nbsp;&nbsp; 359555 |
| &nbsp;&nbsp;&nbsp;Bright Horizons Family Solutions, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;867 | &nbsp;&nbsp;&nbsp;&nbsp; 98058 |
| &nbsp;&nbsp;&nbsp;Cintas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2014 | &nbsp;&nbsp;&nbsp;&nbsp; 448216 |
| &nbsp;&nbsp;&nbsp;CoreCivic, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3268 | &nbsp;&nbsp;&nbsp;&nbsp; 65491 |
| &nbsp;&nbsp;&nbsp;Corpay, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3031 | &nbsp;&nbsp;&nbsp;&nbsp; 979165 |
| &nbsp;&nbsp;&nbsp;Edenred SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8841 | &nbsp;&nbsp;&nbsp;&nbsp; 253444 |
| &nbsp;&nbsp;&nbsp;Element Fleet Management Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44483 | &nbsp;&nbsp;&nbsp;&nbsp; 1157020 |
| &nbsp;&nbsp;&nbsp;Equifax, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2825 | &nbsp;&nbsp;&nbsp;&nbsp; 678650 |
| &nbsp;&nbsp;&nbsp;Euronet Worldwide, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558 | &nbsp;&nbsp;&nbsp;&nbsp; 54226 |
| &nbsp;&nbsp;&nbsp;First Advantage Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3073 | &nbsp;&nbsp;&nbsp;&nbsp; 53132 |
| &nbsp;&nbsp;&nbsp;FTI Consulting, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416 | &nbsp;&nbsp;&nbsp;&nbsp; 69202 |
| &nbsp;&nbsp;&nbsp;GEO Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4992 | &nbsp;&nbsp;&nbsp;&nbsp; 129393 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| &nbsp;&nbsp;&nbsp;Global Payments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206 | &nbsp;&nbsp;$16470 |
| &nbsp;&nbsp;&nbsp;Grand Canyon Education, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496 | &nbsp;&nbsp;&nbsp;&nbsp; 83640 |
| &nbsp;&nbsp;&nbsp;Green Dot Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3622 | &nbsp;&nbsp;&nbsp;&nbsp; 36655 |
| &nbsp;&nbsp;&nbsp;Gusto, Inc.†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp;&nbsp; 19763 |
| &nbsp;&nbsp;&nbsp;GXO Logistics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;844 | &nbsp;&nbsp;&nbsp;&nbsp; 41955 |
| &nbsp;&nbsp;&nbsp;Huron Consulting Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413 | &nbsp;&nbsp;&nbsp;&nbsp; 54549 |
| &nbsp;&nbsp;&nbsp;Marqeta, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15957 | &nbsp;&nbsp;&nbsp;&nbsp; 90955 |
| &nbsp;&nbsp;&nbsp;Matthews International Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1941 | &nbsp;&nbsp;&nbsp;&nbsp; 45594 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp;&nbsp;&nbsp; 183084 |
| &nbsp;&nbsp;&nbsp;Morningstar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323 | &nbsp;&nbsp;&nbsp;&nbsp; 89297 |
| &nbsp;&nbsp;&nbsp;Paylocity Holding Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;924 | &nbsp;&nbsp;&nbsp;&nbsp; 170829 |
| &nbsp;&nbsp;&nbsp;Payoneer Global, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15657 | &nbsp;&nbsp;&nbsp;&nbsp; 102866 |
| &nbsp;&nbsp;&nbsp;PROG Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1133 | &nbsp;&nbsp;&nbsp;&nbsp; 36075 |
| &nbsp;&nbsp;&nbsp;Recruit Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10900 | &nbsp;&nbsp;&nbsp;&nbsp; 654289 |
| &nbsp;&nbsp;&nbsp;Remitly Global, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1486 | &nbsp;&nbsp;&nbsp;&nbsp; 24519 |
| &nbsp;&nbsp;&nbsp;S&P Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2903 | &nbsp;&nbsp;&nbsp;&nbsp; 1599843 |
| &nbsp;&nbsp;&nbsp;Service Corp. International | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1564 | &nbsp;&nbsp;&nbsp;&nbsp; 119349 |
| &nbsp;&nbsp;&nbsp;TechnoPro Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23200 | &nbsp;&nbsp;&nbsp;&nbsp; 740615 |
| &nbsp;&nbsp;&nbsp;Toast, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2640 | &nbsp;&nbsp;&nbsp;&nbsp; 128938 |
| &nbsp;&nbsp;&nbsp;TransUnion | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1929 | &nbsp;&nbsp;&nbsp;&nbsp; 183622 |
| &nbsp;&nbsp;&nbsp;Valvoline, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1517 | &nbsp;&nbsp;&nbsp;&nbsp; 53474 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451 | &nbsp;&nbsp;&nbsp;&nbsp; 125698 |
| &nbsp;&nbsp;&nbsp;Verra Mobility Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4752 | &nbsp;&nbsp;&nbsp;&nbsp; 120036 |
| &nbsp;&nbsp;&nbsp;Vestis Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1073 | &nbsp;&nbsp;&nbsp;&nbsp; 6502 |
| &nbsp;&nbsp;&nbsp;WillScot Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4320 | &nbsp;&nbsp;&nbsp;&nbsp; 126792 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11634790 |
| **Computer Graphics — 0.0%** | **Computer Graphics — 0.0%** | **Computer Graphics — 0.0%** |
| &nbsp;&nbsp;&nbsp;Canva, Inc.†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp; 57754 |
| **Computers — 3.2%** | **Computers — 3.2%** | **Computers — 3.2%** |
| &nbsp;&nbsp;&nbsp;Accenture PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6516 | &nbsp;&nbsp;&nbsp;&nbsp; 1740424 |
| &nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92099 | &nbsp;&nbsp;&nbsp;&nbsp; 19116989 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1224 | &nbsp;&nbsp;&nbsp;&nbsp; 556394 |
| &nbsp;&nbsp;&nbsp;Fortinet, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2437 | &nbsp;&nbsp;&nbsp;&nbsp; 243456 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978 | &nbsp;&nbsp;&nbsp;&nbsp; 247581 |
| &nbsp;&nbsp;&nbsp;NEC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29900 | &nbsp;&nbsp;&nbsp;&nbsp; 872216 |
| &nbsp;&nbsp;&nbsp;Nomura Research Institute, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15900 | &nbsp;&nbsp;&nbsp;&nbsp; 634629 |
| &nbsp;&nbsp;&nbsp;Okta, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2313 | &nbsp;&nbsp;&nbsp;&nbsp; 226211 |
| &nbsp;&nbsp;&nbsp;Pure Storage, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3052 | &nbsp;&nbsp;&nbsp;&nbsp; 181655 |
| &nbsp;&nbsp;&nbsp;Rubrik, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818 | &nbsp;&nbsp;&nbsp;&nbsp; 77669 |
| &nbsp;&nbsp;&nbsp;SailPoint, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | &nbsp;&nbsp;&nbsp;&nbsp; 45216 |
| &nbsp;&nbsp;&nbsp;Sandisk Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1974 | &nbsp;&nbsp;&nbsp;&nbsp; 84724 |
| &nbsp;&nbsp;&nbsp;Super Micro Computer, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1478 | &nbsp;&nbsp;&nbsp;&nbsp; 87158 |
| &nbsp;&nbsp;&nbsp;Teleperformance SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2849 | &nbsp;&nbsp;&nbsp;&nbsp; 278699 |
| &nbsp;&nbsp;&nbsp;Western Digital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;709 | &nbsp;&nbsp;&nbsp;&nbsp; 55791 |
| &nbsp;&nbsp;&nbsp;Zscaler, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967 | &nbsp;&nbsp;&nbsp;&nbsp; 276137 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;24724949 |
| **Cosmetics/Personal Care — 1.7%** | **Cosmetics/Personal Care — 1.7%** | **Cosmetics/Personal Care — 1.7%** |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29854 | &nbsp;&nbsp;&nbsp;&nbsp; 2503258 |
| &nbsp;&nbsp;&nbsp;e.l.f. Beauty, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1612 | &nbsp;&nbsp;&nbsp;&nbsp; 195358 |
| &nbsp;&nbsp;&nbsp;Kenvue, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;145289 | &nbsp;&nbsp;&nbsp;&nbsp; 3114996 |
| &nbsp;&nbsp;&nbsp;L'Oreal SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2302 | &nbsp;&nbsp;&nbsp;&nbsp; 1022839 |
| &nbsp;&nbsp;&nbsp;Perrigo Co. PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5108 | &nbsp;&nbsp;&nbsp;&nbsp; 136230 |
| &nbsp;&nbsp;&nbsp;Prestige Consumer Healthcare, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638 | &nbsp;&nbsp;&nbsp;&nbsp; 47180 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18867 | &nbsp;&nbsp;&nbsp;&nbsp; 2838918 |
| &nbsp;&nbsp;&nbsp;Puig Brands SA, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19292 | &nbsp;&nbsp;&nbsp;&nbsp; 359962 |
| &nbsp;&nbsp;&nbsp;Unilever PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47018 | &nbsp;&nbsp;&nbsp;&nbsp; 2737117 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;12955858 |
| **Distribution/Wholesale — 0.3%** | **Distribution/Wholesale — 0.3%** | **Distribution/Wholesale — 0.3%** |
| &nbsp;&nbsp;&nbsp;Bunzl PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19407 | &nbsp;&nbsp;&nbsp;&nbsp; 577697 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Distribution/Wholesale (continued)** | **Distribution/Wholesale (continued)** | **Distribution/Wholesale (continued)** |
| &nbsp;&nbsp;&nbsp;Global Industrial Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1442 | &nbsp;&nbsp;$49115 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27300 | &nbsp;&nbsp;&nbsp;&nbsp; 540931 |
| &nbsp;&nbsp;&nbsp;Pool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206 | &nbsp;&nbsp;&nbsp;&nbsp; 63477 |
| &nbsp;&nbsp;&nbsp;SiteOne Landscape Supply, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1486 | &nbsp;&nbsp;&nbsp;&nbsp; 204815 |
| &nbsp;&nbsp;&nbsp;Sumitomo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39700 | &nbsp;&nbsp;&nbsp;&nbsp; 1016194 |
| &nbsp;&nbsp;&nbsp;Watsco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179 | &nbsp;&nbsp;&nbsp;&nbsp; 80707 |
| &nbsp;&nbsp;&nbsp;WESCO International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp; 119002 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2651938 |
| **Diversified Financial Services — 3.7%** | **Diversified Financial Services — 3.7%** | **Diversified Financial Services — 3.7%** |
| &nbsp;&nbsp;&nbsp;AerCap Holdings NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6480 | &nbsp;&nbsp;&nbsp;&nbsp; 694980 |
| &nbsp;&nbsp;&nbsp;Air Lease Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1660 | &nbsp;&nbsp;&nbsp;&nbsp; 91964 |
| &nbsp;&nbsp;&nbsp;Ally Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2088 | &nbsp;&nbsp;&nbsp;&nbsp; 79031 |
| &nbsp;&nbsp;&nbsp;American Express Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10524 | &nbsp;&nbsp;&nbsp;&nbsp; 3149939 |
| &nbsp;&nbsp;&nbsp;Apollo Global Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp; 108990 |
| &nbsp;&nbsp;&nbsp;Ares Management Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2631 | &nbsp;&nbsp;&nbsp;&nbsp; 488129 |
| &nbsp;&nbsp;&nbsp;Blackrock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;&nbsp;&nbsp; 326273 |
| &nbsp;&nbsp;&nbsp;Blue Owl Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5992 | &nbsp;&nbsp;&nbsp;&nbsp; 115945 |
| &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3191 | &nbsp;&nbsp;&nbsp;&nbsp; 686065 |
| &nbsp;&nbsp;&nbsp;Cboe Global Markets, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316 | &nbsp;&nbsp;&nbsp;&nbsp; 76169 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49277 | &nbsp;&nbsp;&nbsp;&nbsp; 4815841 |
| &nbsp;&nbsp;&nbsp;Circle Internet Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp;&nbsp;&nbsp; 41843 |
| &nbsp;&nbsp;&nbsp;CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4542 | &nbsp;&nbsp;&nbsp;&nbsp; 1263948 |
| &nbsp;&nbsp;&nbsp;Hamilton Lane, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357 | &nbsp;&nbsp;&nbsp;&nbsp; 54371 |
| &nbsp;&nbsp;&nbsp;Interactive Brokers Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1341 | &nbsp;&nbsp;&nbsp;&nbsp; 87916 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10462 | &nbsp;&nbsp;&nbsp;&nbsp; 1933692 |
| &nbsp;&nbsp;&nbsp;Julius Baer Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9063 | &nbsp;&nbsp;&nbsp;&nbsp; 616139 |
| &nbsp;&nbsp;&nbsp;Lazard, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2481 | &nbsp;&nbsp;&nbsp;&nbsp; 128962 |
| &nbsp;&nbsp;&nbsp;LPL Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp;&nbsp;&nbsp; 221609 |
| &nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6334 | &nbsp;&nbsp;&nbsp;&nbsp; 3588021 |
| &nbsp;&nbsp;&nbsp;Mr. Cooper Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006 | &nbsp;&nbsp;&nbsp;&nbsp; 156654 |
| &nbsp;&nbsp;&nbsp;OneMain Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;&nbsp; 184928 |
| &nbsp;&nbsp;&nbsp;Piper Sandler Cos. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341 | &nbsp;&nbsp;&nbsp;&nbsp; 107524 |
| &nbsp;&nbsp;&nbsp;SLM Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5134 | &nbsp;&nbsp;&nbsp;&nbsp; 163261 |
| &nbsp;&nbsp;&nbsp;StepStone Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2673 | &nbsp;&nbsp;&nbsp;&nbsp; 158669 |
| &nbsp;&nbsp;&nbsp;StoneX Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722 | &nbsp;&nbsp;&nbsp;&nbsp; 70207 |
| &nbsp;&nbsp;&nbsp;TPG, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4672 | &nbsp;&nbsp;&nbsp;&nbsp; 266631 |
| &nbsp;&nbsp;&nbsp;Tradeweb Markets, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2610 | &nbsp;&nbsp;&nbsp;&nbsp; 361616 |
| &nbsp;&nbsp;&nbsp;Virtus Investment Partners, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571 | &nbsp;&nbsp;&nbsp;&nbsp; 110380 |
| &nbsp;&nbsp;&nbsp;Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23723 | &nbsp;&nbsp;&nbsp;&nbsp; 8195585 |
| &nbsp;&nbsp;&nbsp;Voya Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4196 | &nbsp;&nbsp;&nbsp;&nbsp; 293720 |
| &nbsp;&nbsp;&nbsp;Western Union Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9687 | &nbsp;&nbsp;&nbsp;&nbsp; 77980 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;28716982 |
| **Electric — 1.7%** | **Electric — 1.7%** | **Electric — 1.7%** |
| &nbsp;&nbsp;&nbsp;Ameren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27020 | &nbsp;&nbsp;&nbsp;&nbsp; 2732533 |
| &nbsp;&nbsp;&nbsp;CMS Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12634 | &nbsp;&nbsp;&nbsp;&nbsp; 932389 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1835 | &nbsp;&nbsp;&nbsp;&nbsp; 189923 |
| &nbsp;&nbsp;&nbsp;Constellation Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3721 | &nbsp;&nbsp;&nbsp;&nbsp; 1294313 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp;&nbsp;&nbsp; 120417 |
| &nbsp;&nbsp;&nbsp;Electric Power Development Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11100 | &nbsp;&nbsp;&nbsp;&nbsp; 192005 |
| &nbsp;&nbsp;&nbsp;Engie SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48570 | &nbsp;&nbsp;&nbsp;&nbsp; 1087499 |
| &nbsp;&nbsp;&nbsp;Exelon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1710 | &nbsp;&nbsp;&nbsp;&nbsp; 76847 |
| &nbsp;&nbsp;&nbsp;IDACORP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473 | &nbsp;&nbsp;&nbsp;&nbsp; 59281 |
| &nbsp;&nbsp;&nbsp;MGE Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1162 | &nbsp;&nbsp;&nbsp;&nbsp; 98700 |
| &nbsp;&nbsp;&nbsp;National Grid PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91353 | &nbsp;&nbsp;&nbsp;&nbsp; 1278840 |
| &nbsp;&nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15508 | &nbsp;&nbsp;&nbsp;&nbsp; 1101998 |
| &nbsp;&nbsp;&nbsp;Northwestern Energy Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1606 | &nbsp;&nbsp;&nbsp;&nbsp; 86242 |
| &nbsp;&nbsp;&nbsp;OGE Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2769 | &nbsp;&nbsp;&nbsp;&nbsp; 125768 |
| &nbsp;&nbsp;&nbsp;Ormat Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1125 | &nbsp;&nbsp;&nbsp;&nbsp; 100586 |
| &nbsp;&nbsp;&nbsp;PG&E Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16019 | &nbsp;&nbsp;&nbsp;&nbsp; 224586 |
| &nbsp;&nbsp;&nbsp;Sempra | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2184 | &nbsp;&nbsp;&nbsp;&nbsp; 178389 |
| &nbsp;&nbsp;&nbsp;Southern Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11260 | &nbsp;&nbsp;&nbsp;&nbsp; 1063845 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp;&nbsp;Talen Energy Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168 | &nbsp;&nbsp;$63432 |
| &nbsp;&nbsp;&nbsp;TXNM Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678 | &nbsp;&nbsp;&nbsp;&nbsp; 38504 |
| &nbsp;&nbsp;&nbsp;Vistra Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;732 | &nbsp;&nbsp;&nbsp;&nbsp; 152651 |
| &nbsp;&nbsp;&nbsp;Xcel Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27115 | &nbsp;&nbsp;&nbsp;&nbsp; 1991326 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;13190074 |
| **Electrical Components & Equipment — 0.8%** | **Electrical Components & Equipment — 0.8%** | **Electrical Components & Equipment — 0.8%** |
| &nbsp;&nbsp;&nbsp;Acuity, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242 | &nbsp;&nbsp;&nbsp;&nbsp; 75347 |
| &nbsp;&nbsp;&nbsp;AMETEK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11092 | &nbsp;&nbsp;&nbsp;&nbsp; 2050356 |
| &nbsp;&nbsp;&nbsp;Belden, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1336 | &nbsp;&nbsp;&nbsp;&nbsp; 165196 |
| &nbsp;&nbsp;&nbsp;Emerson Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714 | &nbsp;&nbsp;&nbsp;&nbsp; 103894 |
| &nbsp;&nbsp;&nbsp;Energizer Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2087 | &nbsp;&nbsp;&nbsp;&nbsp; 46999 |
| &nbsp;&nbsp;&nbsp;EnerSys | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893 | &nbsp;&nbsp;&nbsp;&nbsp; 82487 |
| &nbsp;&nbsp;&nbsp;Legrand SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6286 | &nbsp;&nbsp;&nbsp;&nbsp; 932207 |
| &nbsp;&nbsp;&nbsp;Littelfuse, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464 | &nbsp;&nbsp;&nbsp;&nbsp; 119401 |
| &nbsp;&nbsp;&nbsp;Novanta, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;862 | &nbsp;&nbsp;&nbsp;&nbsp; 106043 |
| &nbsp;&nbsp;&nbsp;Prysmian SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18524 | &nbsp;&nbsp;&nbsp;&nbsp; 1487804 |
| &nbsp;&nbsp;&nbsp;Schneider Electric SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3002 | &nbsp;&nbsp;&nbsp;&nbsp; 781957 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5951691 |
| **Electronics — 1.5%** | **Electronics — 1.5%** | **Electronics — 1.5%** |
| &nbsp;&nbsp;&nbsp;ABB, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24197 | &nbsp;&nbsp;&nbsp;&nbsp; 1594366 |
| &nbsp;&nbsp;&nbsp;Amphenol Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19089 | &nbsp;&nbsp;&nbsp;&nbsp; 2033169 |
| &nbsp;&nbsp;&nbsp;Atkore, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858 | &nbsp;&nbsp;&nbsp;&nbsp; 66083 |
| &nbsp;&nbsp;&nbsp;Atmus Filtration Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3640 | &nbsp;&nbsp;&nbsp;&nbsp; 141632 |
| &nbsp;&nbsp;&nbsp;Avnet, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1618 | &nbsp;&nbsp;&nbsp;&nbsp; 85657 |
| &nbsp;&nbsp;&nbsp;Coherent Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1245 | &nbsp;&nbsp;&nbsp;&nbsp; 133962 |
| &nbsp;&nbsp;&nbsp;ESCO Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790 | &nbsp;&nbsp;&nbsp;&nbsp; 153023 |
| &nbsp;&nbsp;&nbsp;Fortive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1812 | &nbsp;&nbsp;&nbsp;&nbsp; 86849 |
| &nbsp;&nbsp;&nbsp;Honeywell International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6098 | &nbsp;&nbsp;&nbsp;&nbsp; 1355890 |
| &nbsp;&nbsp;&nbsp;Hubbell, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;514 | &nbsp;&nbsp;&nbsp;&nbsp; 224865 |
| &nbsp;&nbsp;&nbsp;Jabil, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106 | &nbsp;&nbsp;&nbsp;&nbsp; 23656 |
| &nbsp;&nbsp;&nbsp;Keysight Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16145 | &nbsp;&nbsp;&nbsp;&nbsp; 2646327 |
| &nbsp;&nbsp;&nbsp;Mettler-Toledo International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109 | &nbsp;&nbsp;&nbsp;&nbsp; 134471 |
| &nbsp;&nbsp;&nbsp;NEXTracker, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1337 | &nbsp;&nbsp;&nbsp;&nbsp; 77894 |
| &nbsp;&nbsp;&nbsp;Ralliant Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2347 | &nbsp;&nbsp;&nbsp;&nbsp; 107305 |
| &nbsp;&nbsp;&nbsp;Sensata Technologies Holding PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4840 | &nbsp;&nbsp;&nbsp;&nbsp; 148879 |
| &nbsp;&nbsp;&nbsp;TE Connectivity PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11419 | &nbsp;&nbsp;&nbsp;&nbsp; 2349459 |
| &nbsp;&nbsp;&nbsp;TTM Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3829 | &nbsp;&nbsp;&nbsp;&nbsp; 180920 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11544407 |
| **Energy-Alternate Sources — 0.1%** | **Energy-Alternate Sources — 0.1%** | **Energy-Alternate Sources — 0.1%** |
| &nbsp;&nbsp;&nbsp;First Solar, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2011 | &nbsp;&nbsp;&nbsp;&nbsp; 351382 |
| &nbsp;&nbsp;&nbsp;REX American Resources Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1027 | &nbsp;&nbsp;&nbsp;&nbsp; 53691 |
| &nbsp;&nbsp;&nbsp;Shoals Technologies Group, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4959 | &nbsp;&nbsp;&nbsp;&nbsp; 26729 |
| &nbsp;&nbsp;&nbsp;Sunrun, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3361 | &nbsp;&nbsp;&nbsp;&nbsp; 34484 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466286 |
| **Engineering & Construction — 0.2%** | **Engineering & Construction — 0.2%** | **Engineering & Construction — 0.2%** |
| &nbsp;&nbsp;&nbsp;Comfort Systems USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511 | &nbsp;&nbsp;&nbsp;&nbsp; 359386 |
| &nbsp;&nbsp;&nbsp;Dycom Industries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596 | &nbsp;&nbsp;&nbsp;&nbsp; 160211 |
| &nbsp;&nbsp;&nbsp;EMCOR Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211 | &nbsp;&nbsp;&nbsp;&nbsp; 132400 |
| &nbsp;&nbsp;&nbsp;Shimizu Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38200 | &nbsp;&nbsp;&nbsp;&nbsp; 425697 |
| &nbsp;&nbsp;&nbsp;TopBuild Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;&nbsp; 97794 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1175488 |
| **Entertainment — 0.1%** | **Entertainment — 0.1%** | **Entertainment — 0.1%** |
| &nbsp;&nbsp;&nbsp;Churchill Downs, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784 | &nbsp;&nbsp;&nbsp;&nbsp; 83919 |
| &nbsp;&nbsp;&nbsp;Cinemark Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1542 | &nbsp;&nbsp;&nbsp;&nbsp; 41434 |
| &nbsp;&nbsp;&nbsp;DraftKings, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4137 | &nbsp;&nbsp;&nbsp;&nbsp; 186331 |
| &nbsp;&nbsp;&nbsp;Flutter Entertainment PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;928 | &nbsp;&nbsp;&nbsp;&nbsp; 280497 |
| &nbsp;&nbsp;&nbsp;Madison Square Garden Entertainment Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1079 | &nbsp;&nbsp;&nbsp;&nbsp; 40775 |
| &nbsp;&nbsp;&nbsp;Marriott Vacations Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465 | &nbsp;&nbsp;&nbsp;&nbsp; 34629 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Entertainment (continued)** | **Entertainment (continued)** | **Entertainment (continued)** |
| &nbsp;&nbsp;&nbsp;TKO Group Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572 | &nbsp;&nbsp;$96102 |
| &nbsp;&nbsp;&nbsp;Warner Music Group Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1578 | &nbsp;&nbsp;&nbsp;&nbsp; 46172 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;809859 |
| **Environmental Control — 0.4%** | **Environmental Control — 0.4%** | **Environmental Control — 0.4%** |
| &nbsp;&nbsp;&nbsp;Casella Waste Systems, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170 | &nbsp;&nbsp;&nbsp;&nbsp; 127214 |
| &nbsp;&nbsp;&nbsp;Pentair PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3566 | &nbsp;&nbsp;&nbsp;&nbsp; 364445 |
| &nbsp;&nbsp;&nbsp;Republic Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6158 | &nbsp;&nbsp;&nbsp;&nbsp; 1420343 |
| &nbsp;&nbsp;&nbsp;Veralto Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;653 | &nbsp;&nbsp;&nbsp;&nbsp; 68454 |
| &nbsp;&nbsp;&nbsp;Waste Connections, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6681 | &nbsp;&nbsp;&nbsp;&nbsp; 1247142 |
| &nbsp;&nbsp;&nbsp;Waste Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568 | &nbsp;&nbsp;&nbsp;&nbsp; 130163 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3357761 |
| **Food — 0.9%** | **Food — 0.9%** | **Food — 0.9%** |
| &nbsp;&nbsp;&nbsp;Ajinomoto Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26300 | &nbsp;&nbsp;&nbsp;&nbsp; 698485 |
| &nbsp;&nbsp;&nbsp;Flowers Foods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8112 | &nbsp;&nbsp;&nbsp;&nbsp; 128575 |
| &nbsp;&nbsp;&nbsp;Ingredion, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp;&nbsp;&nbsp; 86159 |
| &nbsp;&nbsp;&nbsp;Lamb Weston Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298 | &nbsp;&nbsp;&nbsp;&nbsp; 17007 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41609 | &nbsp;&nbsp;&nbsp;&nbsp; 2691686 |
| &nbsp;&nbsp;&nbsp;Nestle SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28600 | &nbsp;&nbsp;&nbsp;&nbsp; 2503490 |
| &nbsp;&nbsp;&nbsp;Post Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781 | &nbsp;&nbsp;&nbsp;&nbsp; 82638 |
| &nbsp;&nbsp;&nbsp;Seven & i Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54200 | &nbsp;&nbsp;&nbsp;&nbsp; 717755 |
| &nbsp;&nbsp;&nbsp;Sprouts Farmers Market, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1475 | &nbsp;&nbsp;&nbsp;&nbsp; 223521 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;699 | &nbsp;&nbsp;&nbsp;&nbsp; 36558 |
| &nbsp;&nbsp;&nbsp;US Foods Holding Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619 | &nbsp;&nbsp;&nbsp;&nbsp; 51581 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7237455 |
| **Food Service — 0.2%** | **Food Service — 0.2%** | **Food Service — 0.2%** |
| &nbsp;&nbsp;&nbsp;Aramark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4173 | &nbsp;&nbsp;&nbsp;&nbsp; 177603 |
| &nbsp;&nbsp;&nbsp;Compass Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47594 | &nbsp;&nbsp;&nbsp;&nbsp; 1675086 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1852689 |
| **Forest Products & Paper — 0.2%** | **Forest Products & Paper — 0.2%** | **Forest Products & Paper — 0.2%** |
| &nbsp;&nbsp;&nbsp;International Paper Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36155 | &nbsp;&nbsp;&nbsp;&nbsp; 1689885 |
| **Gas — 0.3%** | **Gas — 0.3%** | **Gas — 0.3%** |
| &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10426 | &nbsp;&nbsp;&nbsp;&nbsp; 1625622 |
| &nbsp;&nbsp;&nbsp;National Fuel Gas Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443 | &nbsp;&nbsp;&nbsp;&nbsp; 38448 |
| &nbsp;&nbsp;&nbsp;ONE Gas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1625 | &nbsp;&nbsp;&nbsp;&nbsp; 118137 |
| &nbsp;&nbsp;&nbsp;Southwest Gas Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1606 | &nbsp;&nbsp;&nbsp;&nbsp; 125493 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1907700 |
| **Hand/Machine Tools — 0.1%** | **Hand/Machine Tools — 0.1%** | **Hand/Machine Tools — 0.1%** |
| &nbsp;&nbsp;&nbsp;Enerpac Tool Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2051 | &nbsp;&nbsp;&nbsp;&nbsp; 78984 |
| &nbsp;&nbsp;&nbsp;MSA Safety, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;783 | &nbsp;&nbsp;&nbsp;&nbsp; 139272 |
| &nbsp;&nbsp;&nbsp;Stanley Black & Decker, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7088 | &nbsp;&nbsp;&nbsp;&nbsp; 479503 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697759 |
| **Healthcare-Products — 2.5%** | **Healthcare-Products — 2.5%** | **Healthcare-Products — 2.5%** |
| &nbsp;&nbsp;&nbsp;10X Genomics, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2623 | &nbsp;&nbsp;&nbsp;&nbsp; 35279 |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13158 | &nbsp;&nbsp;&nbsp;&nbsp; 1660408 |
| &nbsp;&nbsp;&nbsp;Alcon AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6732 | &nbsp;&nbsp;&nbsp;&nbsp; 595251 |
| &nbsp;&nbsp;&nbsp;Alcon, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11540 | &nbsp;&nbsp;&nbsp;&nbsp; 1010327 |
| &nbsp;&nbsp;&nbsp;Avantor, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3270 | &nbsp;&nbsp;&nbsp;&nbsp; 43949 |
| &nbsp;&nbsp;&nbsp;Azenta, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1788 | &nbsp;&nbsp;&nbsp;&nbsp; 58468 |
| &nbsp;&nbsp;&nbsp;Boston Scientific Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4166 | &nbsp;&nbsp;&nbsp;&nbsp; 437097 |
| &nbsp;&nbsp;&nbsp;Cooper Cos., Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1796 | &nbsp;&nbsp;&nbsp;&nbsp; 126959 |
| &nbsp;&nbsp;&nbsp;Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11712 | &nbsp;&nbsp;&nbsp;&nbsp; 2309138 |
| &nbsp;&nbsp;&nbsp;Dentsply Sirona, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4732 | &nbsp;&nbsp;&nbsp;&nbsp; 67715 |
| &nbsp;&nbsp;&nbsp;Enovis Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1193 | &nbsp;&nbsp;&nbsp;&nbsp; 31972 |
| &nbsp;&nbsp;&nbsp;Envista Holdings Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1336 | &nbsp;&nbsp;&nbsp;&nbsp; 25237 |
| &nbsp;&nbsp;&nbsp;EssilorLuxottica SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2932 | &nbsp;&nbsp;&nbsp;&nbsp; 871967 |
| &nbsp;&nbsp;&nbsp;Exact Sciences Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1882 | &nbsp;&nbsp;&nbsp;&nbsp; 88360 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5839 | &nbsp;&nbsp;&nbsp;&nbsp; 416437 |
| &nbsp;&nbsp;&nbsp;Globus Medical, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701 | &nbsp;&nbsp;&nbsp;&nbsp; 36894 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Healthcare-Products (continued)** | **Healthcare-Products (continued)** | **Healthcare-Products (continued)** |
| &nbsp;&nbsp;&nbsp;Guardant Health, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013 | &nbsp;&nbsp;$41513 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3871 | &nbsp;&nbsp;&nbsp;&nbsp; 1862299 |
| &nbsp;&nbsp;&nbsp;Koninklijke Philips NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38766 | &nbsp;&nbsp;&nbsp;&nbsp; 1021938 |
| &nbsp;&nbsp;&nbsp;Lantheus Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1211 | &nbsp;&nbsp;&nbsp;&nbsp; 86211 |
| &nbsp;&nbsp;&nbsp;Masimo Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437 | &nbsp;&nbsp;&nbsp;&nbsp; 67206 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp; 117312 |
| &nbsp;&nbsp;&nbsp;Natera, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1193 | &nbsp;&nbsp;&nbsp;&nbsp; 159456 |
| &nbsp;&nbsp;&nbsp;Novocure, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3086 | &nbsp;&nbsp;&nbsp;&nbsp; 35705 |
| &nbsp;&nbsp;&nbsp;Omnicell, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp;&nbsp; 19381 |
| &nbsp;&nbsp;&nbsp;Penumbra, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770 | &nbsp;&nbsp;&nbsp;&nbsp; 194248 |
| &nbsp;&nbsp;&nbsp;PROCEPT BioRobotics Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1474 | &nbsp;&nbsp;&nbsp;&nbsp; 71504 |
| &nbsp;&nbsp;&nbsp;Pulse Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1552 | &nbsp;&nbsp;&nbsp;&nbsp; 23311 |
| &nbsp;&nbsp;&nbsp;Repligen Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1696 | &nbsp;&nbsp;&nbsp;&nbsp; 198551 |
| &nbsp;&nbsp;&nbsp;Revvity, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11277 | &nbsp;&nbsp;&nbsp;&nbsp; 991248 |
| &nbsp;&nbsp;&nbsp;Siemens Healthineers AG\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19628 | &nbsp;&nbsp;&nbsp;&nbsp; 1059495 |
| &nbsp;&nbsp;&nbsp;Sonova Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1119 | &nbsp;&nbsp;&nbsp;&nbsp; 306253 |
| &nbsp;&nbsp;&nbsp;Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5627 | &nbsp;&nbsp;&nbsp;&nbsp; 2209892 |
| &nbsp;&nbsp;&nbsp;Sysmex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19700 | &nbsp;&nbsp;&nbsp;&nbsp; 323587 |
| &nbsp;&nbsp;&nbsp;Tactile Systems Technology, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2441 | &nbsp;&nbsp;&nbsp;&nbsp; 24361 |
| &nbsp;&nbsp;&nbsp;Tandem Diabetes Care, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;757 | &nbsp;&nbsp;&nbsp;&nbsp; 11794 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4731 | &nbsp;&nbsp;&nbsp;&nbsp; 2212594 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1359 | &nbsp;&nbsp;&nbsp;&nbsp; 124552 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;18977869 |
| **Healthcare-Services — 1.2%** | **Healthcare-Services — 1.2%** | **Healthcare-Services — 1.2%** |
| &nbsp;&nbsp;&nbsp;BrightSpring Health Services, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2316 | &nbsp;&nbsp;&nbsp;&nbsp; 47825 |
| &nbsp;&nbsp;&nbsp;Cigna Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5345 | &nbsp;&nbsp;&nbsp;&nbsp; 1429146 |
| &nbsp;&nbsp;&nbsp;Concentra Group Holdings Parent, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5532 | &nbsp;&nbsp;&nbsp;&nbsp; 110474 |
| &nbsp;&nbsp;&nbsp;Elevance Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5232 | &nbsp;&nbsp;&nbsp;&nbsp; 1481075 |
| &nbsp;&nbsp;&nbsp;Encompass Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1121 | &nbsp;&nbsp;&nbsp;&nbsp; 123433 |
| &nbsp;&nbsp;&nbsp;Ensign Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539 | &nbsp;&nbsp;&nbsp;&nbsp; 80850 |
| &nbsp;&nbsp;&nbsp;IQVIA Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284 | &nbsp;&nbsp;&nbsp;&nbsp; 52784 |
| &nbsp;&nbsp;&nbsp;Molina Healthcare, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1327 | &nbsp;&nbsp;&nbsp;&nbsp; 209494 |
| &nbsp;&nbsp;&nbsp;Oscar Health, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1939 | &nbsp;&nbsp;&nbsp;&nbsp; 27243 |
| &nbsp;&nbsp;&nbsp;Pennant Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1247 | &nbsp;&nbsp;&nbsp;&nbsp; 27646 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8780 | &nbsp;&nbsp;&nbsp;&nbsp; 1469860 |
| &nbsp;&nbsp;&nbsp;Select Medical Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4538 | &nbsp;&nbsp;&nbsp;&nbsp; 67117 |
| &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10233 | &nbsp;&nbsp;&nbsp;&nbsp; 1650378 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10639 | &nbsp;&nbsp;&nbsp;&nbsp; 2655069 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9432394 |
| **Home Builders — 0.1%** | **Home Builders — 0.1%** | **Home Builders — 0.1%** |
| &nbsp;&nbsp;&nbsp;Cavco Industries, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp; 62569 |
| &nbsp;&nbsp;&nbsp;Green Brick Partners, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1808 | &nbsp;&nbsp;&nbsp;&nbsp; 111987 |
| &nbsp;&nbsp;&nbsp;Hovnanian Enterprises, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337 | &nbsp;&nbsp;&nbsp;&nbsp; 40261 |
| &nbsp;&nbsp;&nbsp;Installed Building Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;&nbsp; 68779 |
| &nbsp;&nbsp;&nbsp;KB Home | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1278 | &nbsp;&nbsp;&nbsp;&nbsp; 70622 |
| &nbsp;&nbsp;&nbsp;NVR, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp;&nbsp;&nbsp; 181188 |
| &nbsp;&nbsp;&nbsp;Persimmon PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23268 | &nbsp;&nbsp;&nbsp;&nbsp; 351846 |
| &nbsp;&nbsp;&nbsp;Taylor Morrison Home Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1624 | &nbsp;&nbsp;&nbsp;&nbsp; 96271 |
| &nbsp;&nbsp;&nbsp;Toll Brothers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1164 | &nbsp;&nbsp;&nbsp;&nbsp; 137771 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1121294 |
| **Home Furnishings — 0.3%** | **Home Furnishings — 0.3%** | **Home Furnishings — 0.3%** |
| &nbsp;&nbsp;&nbsp;Panasonic Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61800 | &nbsp;&nbsp;&nbsp;&nbsp; 590337 |
| &nbsp;&nbsp;&nbsp;Sony Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69600 | &nbsp;&nbsp;&nbsp;&nbsp; 1699385 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2289722 |
| **Household Products/Wares — 0.1%** | **Household Products/Wares — 0.1%** | **Household Products/Wares — 0.1%** |
| &nbsp;&nbsp;&nbsp;Avery Dennison Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3242 | &nbsp;&nbsp;&nbsp;&nbsp; 543910 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Household Products/Wares (continued)** | **Household Products/Wares (continued)** | **Household Products/Wares (continued)** |
| &nbsp;&nbsp;&nbsp;Central Garden & Pet Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616 | &nbsp;&nbsp;$24036 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1382 | &nbsp;&nbsp;&nbsp;&nbsp; 172225 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740171 |
| **Housewares — 0.0%** | **Housewares — 0.0%** | **Housewares — 0.0%** |
| &nbsp;&nbsp;&nbsp;Scotts Miracle-Gro Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860 | &nbsp;&nbsp;&nbsp;&nbsp; 53888 |
| **Insurance — 4.2%** | **Insurance — 4.2%** | **Insurance — 4.2%** |
| &nbsp;&nbsp;&nbsp;Admiral Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14249 | &nbsp;&nbsp;&nbsp;&nbsp; 643197 |
| &nbsp;&nbsp;&nbsp;AIA Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90600 | &nbsp;&nbsp;&nbsp;&nbsp; 847139 |
| &nbsp;&nbsp;&nbsp;Allstate Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11991 | &nbsp;&nbsp;&nbsp;&nbsp; 2437171 |
| &nbsp;&nbsp;&nbsp;American Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584 | &nbsp;&nbsp;&nbsp;&nbsp; 72942 |
| &nbsp;&nbsp;&nbsp;American International Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2441 | &nbsp;&nbsp;&nbsp;&nbsp; 189495 |
| &nbsp;&nbsp;&nbsp;Aon PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1010 | &nbsp;&nbsp;&nbsp;&nbsp; 359267 |
| &nbsp;&nbsp;&nbsp;Aviva PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74067 | &nbsp;&nbsp;&nbsp;&nbsp; 634438 |
| &nbsp;&nbsp;&nbsp;AXA SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27162 | &nbsp;&nbsp;&nbsp;&nbsp; 1322963 |
| &nbsp;&nbsp;&nbsp;Axis Capital Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2543 | &nbsp;&nbsp;&nbsp;&nbsp; 238635 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc., Class B† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10114 | &nbsp;&nbsp;&nbsp;&nbsp; 4772594 |
| &nbsp;&nbsp;&nbsp;Chubb, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16702 | &nbsp;&nbsp;&nbsp;&nbsp; 4443400 |
| &nbsp;&nbsp;&nbsp;Definity Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15040 | &nbsp;&nbsp;&nbsp;&nbsp; 810289 |
| &nbsp;&nbsp;&nbsp;Definity Financial Corp.†(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002 | &nbsp;&nbsp;&nbsp;&nbsp; 51284 |
| &nbsp;&nbsp;&nbsp;Equitable Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6564 | &nbsp;&nbsp;&nbsp;&nbsp; 337061 |
| &nbsp;&nbsp;&nbsp;Fidelity National Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1289 | &nbsp;&nbsp;&nbsp;&nbsp; 72738 |
| &nbsp;&nbsp;&nbsp;Generali | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11323 | &nbsp;&nbsp;&nbsp;&nbsp; 422801 |
| &nbsp;&nbsp;&nbsp;Great-West Lifeco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19150 | &nbsp;&nbsp;&nbsp;&nbsp; 719092 |
| &nbsp;&nbsp;&nbsp;Hanover Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1081 | &nbsp;&nbsp;&nbsp;&nbsp; 185532 |
| &nbsp;&nbsp;&nbsp;Hartford Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7569 | &nbsp;&nbsp;&nbsp;&nbsp; 941508 |
| &nbsp;&nbsp;&nbsp;Horace Mann Educators Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;899 | &nbsp;&nbsp;&nbsp;&nbsp; 38235 |
| &nbsp;&nbsp;&nbsp;Kemper Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1246 | &nbsp;&nbsp;&nbsp;&nbsp; 76741 |
| &nbsp;&nbsp;&nbsp;Mandatum Oyj | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70603 | &nbsp;&nbsp;&nbsp;&nbsp; 480049 |
| &nbsp;&nbsp;&nbsp;Markel Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp; 190788 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11410 | &nbsp;&nbsp;&nbsp;&nbsp; 2272872 |
| &nbsp;&nbsp;&nbsp;Mercury General Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1915 | &nbsp;&nbsp;&nbsp;&nbsp; 132614 |
| &nbsp;&nbsp;&nbsp;MetLife, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10291 | &nbsp;&nbsp;&nbsp;&nbsp; 781602 |
| &nbsp;&nbsp;&nbsp;Muenchener Rueckversicherungs-Gesellschaft AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp; 2167686 |
| &nbsp;&nbsp;&nbsp;Palomar Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;964 | &nbsp;&nbsp;&nbsp;&nbsp; 127720 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6061 | &nbsp;&nbsp;&nbsp;&nbsp; 1467004 |
| &nbsp;&nbsp;&nbsp;Reinsurance Group of America, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp; 69282 |
| &nbsp;&nbsp;&nbsp;RenaissanceRe Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1714 | &nbsp;&nbsp;&nbsp;&nbsp; 417770 |
| &nbsp;&nbsp;&nbsp;Safety Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp; 21105 |
| &nbsp;&nbsp;&nbsp;Sampo Oyj, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98071 | &nbsp;&nbsp;&nbsp;&nbsp; 1053825 |
| &nbsp;&nbsp;&nbsp;Selective Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1040 | &nbsp;&nbsp;&nbsp;&nbsp; 81089 |
| &nbsp;&nbsp;&nbsp;Storebrand ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38110 | &nbsp;&nbsp;&nbsp;&nbsp; 542970 |
| &nbsp;&nbsp;&nbsp;Tokio Marine Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp; 1827454 |
| &nbsp;&nbsp;&nbsp;Travelers Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5668 | &nbsp;&nbsp;&nbsp;&nbsp; 1475040 |
| &nbsp;&nbsp;&nbsp;TWFG, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;928 | &nbsp;&nbsp;&nbsp;&nbsp; 28647 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;32754039 |
| **Internet — 6.5%** | **Internet — 6.5%** | **Internet — 6.5%** |
| &nbsp;&nbsp;&nbsp;Alibaba Group Holding, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19504 | &nbsp;&nbsp;&nbsp;&nbsp; 287467 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21942 | &nbsp;&nbsp;&nbsp;&nbsp; 4210670 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41137 | &nbsp;&nbsp;&nbsp;&nbsp; 7933682 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64201 | &nbsp;&nbsp;&nbsp;&nbsp; 15030096 |
| &nbsp;&nbsp;&nbsp;Angi, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337 | &nbsp;&nbsp;&nbsp;&nbsp; 5466 |
| &nbsp;&nbsp;&nbsp;Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278 | &nbsp;&nbsp;&nbsp;&nbsp; 1530129 |
| &nbsp;&nbsp;&nbsp;CDW Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448 | &nbsp;&nbsp;&nbsp;&nbsp; 78122 |
| &nbsp;&nbsp;&nbsp;DoorDash, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3295 | &nbsp;&nbsp;&nbsp;&nbsp; 824574 |
| &nbsp;&nbsp;&nbsp;eBay, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1338 | &nbsp;&nbsp;&nbsp;&nbsp; 122761 |
| &nbsp;&nbsp;&nbsp;Gen Digital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6333 | &nbsp;&nbsp;&nbsp;&nbsp; 186760 |
| &nbsp;&nbsp;&nbsp;IAC, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;642 | &nbsp;&nbsp;&nbsp;&nbsp; 25231 |
| &nbsp;&nbsp;&nbsp;Lyft, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3756 | &nbsp;&nbsp;&nbsp;&nbsp; 52809 |
| &nbsp;&nbsp;&nbsp;Maplebear, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1862 | &nbsp;&nbsp;&nbsp;&nbsp; 89320 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14873 | &nbsp;&nbsp;&nbsp;&nbsp; 11503373 |
| &nbsp;&nbsp;&nbsp;Netflix, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3387 | &nbsp;&nbsp;&nbsp;&nbsp; 3926888 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1852 | &nbsp;&nbsp;$321507 |
| &nbsp;&nbsp;&nbsp;Pinterest, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23847 | &nbsp;&nbsp;&nbsp;&nbsp; 920494 |
| &nbsp;&nbsp;&nbsp;Q2 Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820 | &nbsp;&nbsp;&nbsp;&nbsp; 66584 |
| &nbsp;&nbsp;&nbsp;Robinhood Markets, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4909 | &nbsp;&nbsp;&nbsp;&nbsp; 505872 |
| &nbsp;&nbsp;&nbsp;Sea, Ltd. ADR† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7946 | &nbsp;&nbsp;&nbsp;&nbsp; 1244741 |
| &nbsp;&nbsp;&nbsp;Shopify, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6979 | &nbsp;&nbsp;&nbsp;&nbsp; 852904 |
| &nbsp;&nbsp;&nbsp;Snap, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6910 | &nbsp;&nbsp;&nbsp;&nbsp; 65161 |
| &nbsp;&nbsp;&nbsp;Spotify Technology SA† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp; 81450 |
| &nbsp;&nbsp;&nbsp;Tencent Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp; 385350 |
| &nbsp;&nbsp;&nbsp;Uber Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538 | &nbsp;&nbsp;&nbsp;&nbsp; 47210 |
| &nbsp;&nbsp;&nbsp;Upwork, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6794 | &nbsp;&nbsp;&nbsp;&nbsp; 81256 |
| &nbsp;&nbsp;&nbsp;Ziff Davis, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2689 | &nbsp;&nbsp;&nbsp;&nbsp; 83682 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;50463559 |
| **Investment Companies — 0.0%** | **Investment Companies — 0.0%** | **Investment Companies — 0.0%** |
| &nbsp;&nbsp;&nbsp;SK Square Co., Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3030 | &nbsp;&nbsp;&nbsp;&nbsp; 332321 |
| **Iron/Steel — 0.1%** | **Iron/Steel — 0.1%** | **Iron/Steel — 0.1%** |
| &nbsp;&nbsp;&nbsp;Cleveland-Cliffs, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3259 | &nbsp;&nbsp;&nbsp;&nbsp; 34285 |
| &nbsp;&nbsp;&nbsp;Reliance, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818 | &nbsp;&nbsp;&nbsp;&nbsp; 237326 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1016 | &nbsp;&nbsp;&nbsp;&nbsp; 129601 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401212 |
| **Leisure Time — 0.2%** | **Leisure Time — 0.2%** | **Leisure Time — 0.2%** |
| &nbsp;&nbsp;&nbsp;Acushnet Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1052 | &nbsp;&nbsp;&nbsp;&nbsp; 83760 |
| &nbsp;&nbsp;&nbsp;Amadeus IT Group SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11011 | &nbsp;&nbsp;&nbsp;&nbsp; 884880 |
| &nbsp;&nbsp;&nbsp;Peloton Interactive, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4667 | &nbsp;&nbsp;&nbsp;&nbsp; 33322 |
| &nbsp;&nbsp;&nbsp;Planet Fitness, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1787 | &nbsp;&nbsp;&nbsp;&nbsp; 195123 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1197085 |
| **Lodging — 0.3%** | **Lodging — 0.3%** | **Lodging — 0.3%** |
| &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6253 | &nbsp;&nbsp;&nbsp;&nbsp; 1676304 |
| &nbsp;&nbsp;&nbsp;Las Vegas Sands Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2306 | &nbsp;&nbsp;&nbsp;&nbsp; 120834 |
| &nbsp;&nbsp;&nbsp;Marcus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1378 | &nbsp;&nbsp;&nbsp;&nbsp; 22558 |
| &nbsp;&nbsp;&nbsp;Marriott International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;&nbsp; 533201 |
| &nbsp;&nbsp;&nbsp;Playa Hotels & Resorts NV(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4856 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;Travel & Leisure Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080 | &nbsp;&nbsp;&nbsp;&nbsp; 63990 |
| &nbsp;&nbsp;&nbsp;Wyndham Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1216 | &nbsp;&nbsp;&nbsp;&nbsp; 104576 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2521463 |
| **Machinery-Construction & Mining — 1.0%** | **Machinery-Construction & Mining — 1.0%** | **Machinery-Construction & Mining — 1.0%** |
| &nbsp;&nbsp;&nbsp;Argan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551 | &nbsp;&nbsp;&nbsp;&nbsp; 134984 |
| &nbsp;&nbsp;&nbsp;BWX Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692 | &nbsp;&nbsp;&nbsp;&nbsp; 105136 |
| &nbsp;&nbsp;&nbsp;Caterpillar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2926 | &nbsp;&nbsp;&nbsp;&nbsp; 1281646 |
| &nbsp;&nbsp;&nbsp;GE Vernova, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2680 | &nbsp;&nbsp;&nbsp;&nbsp; 1769577 |
| &nbsp;&nbsp;&nbsp;Hitachi, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41900 | &nbsp;&nbsp;&nbsp;&nbsp; 1305068 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Electric Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66600 | &nbsp;&nbsp;&nbsp;&nbsp; 1475976 |
| &nbsp;&nbsp;&nbsp;Sandvik AB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36770 | &nbsp;&nbsp;&nbsp;&nbsp; 898474 |
| &nbsp;&nbsp;&nbsp;Vertiv Holdings Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4638 | &nbsp;&nbsp;&nbsp;&nbsp; 675293 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7646154 |
| **Machinery-Diversified — 1.3%** | **Machinery-Diversified — 1.3%** | **Machinery-Diversified — 1.3%** |
| &nbsp;&nbsp;&nbsp;AGCO Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1485 | &nbsp;&nbsp;&nbsp;&nbsp; 175185 |
| &nbsp;&nbsp;&nbsp;Alamo Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558 | &nbsp;&nbsp;&nbsp;&nbsp; 124200 |
| &nbsp;&nbsp;&nbsp;Cognex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4258 | &nbsp;&nbsp;&nbsp;&nbsp; 173599 |
| &nbsp;&nbsp;&nbsp;Deere & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7761 | &nbsp;&nbsp;&nbsp;&nbsp; 4069636 |
| &nbsp;&nbsp;&nbsp;Dover Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945 | &nbsp;&nbsp;&nbsp;&nbsp; 171177 |
| &nbsp;&nbsp;&nbsp;Esab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2016 | &nbsp;&nbsp;&nbsp;&nbsp; 270487 |
| &nbsp;&nbsp;&nbsp;Graco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604 | &nbsp;&nbsp;&nbsp;&nbsp; 50724 |
| &nbsp;&nbsp;&nbsp;Ingersoll Rand, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1819 | &nbsp;&nbsp;&nbsp;&nbsp; 153942 |
| &nbsp;&nbsp;&nbsp;KION Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9646 | &nbsp;&nbsp;&nbsp;&nbsp; 597184 |
| &nbsp;&nbsp;&nbsp;Middleby Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1008 | &nbsp;&nbsp;&nbsp;&nbsp; 146362 |
| &nbsp;&nbsp;&nbsp;Mueller Water Products, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4510 | &nbsp;&nbsp;&nbsp;&nbsp; 111668 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Machinery-Diversified (continued)** | **Machinery-Diversified (continued)** | **Machinery-Diversified (continued)** |
| &nbsp;&nbsp;&nbsp;Otis Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1335 | &nbsp;&nbsp;$114396 |
| &nbsp;&nbsp;&nbsp;Rockwell Automation, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3882 | &nbsp;&nbsp;&nbsp;&nbsp; 1365338 |
| &nbsp;&nbsp;&nbsp;Tennant Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1070 | &nbsp;&nbsp;&nbsp;&nbsp; 88318 |
| &nbsp;&nbsp;&nbsp;Toro Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2274 | &nbsp;&nbsp;&nbsp;&nbsp; 168844 |
| &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9363 | &nbsp;&nbsp;&nbsp;&nbsp; 1798164 |
| &nbsp;&nbsp;&nbsp;Xylem, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;752 | &nbsp;&nbsp;&nbsp;&nbsp; 108754 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9687978 |
| **Media — 0.2%** | **Media — 0.2%** | **Media — 0.2%** |
| &nbsp;&nbsp;&nbsp;Charter Communications, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp;&nbsp;&nbsp; 90236 |
| &nbsp;&nbsp;&nbsp;Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17965 | &nbsp;&nbsp;&nbsp;&nbsp; 596977 |
| &nbsp;&nbsp;&nbsp;Liberty Broadband Corp., Class C† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1368 | &nbsp;&nbsp;&nbsp;&nbsp; 83886 |
| &nbsp;&nbsp;&nbsp;Liberty Global, Ltd., Class C† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2158 | &nbsp;&nbsp;&nbsp;&nbsp; 22076 |
| &nbsp;&nbsp;&nbsp;Liberty Media Corp.-Liberty Formula One, Class C† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2564 | &nbsp;&nbsp;&nbsp;&nbsp; 257297 |
| &nbsp;&nbsp;&nbsp;Nexstar Media Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577 | &nbsp;&nbsp;&nbsp;&nbsp; 107962 |
| &nbsp;&nbsp;&nbsp;Scholastic Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1647 | &nbsp;&nbsp;&nbsp;&nbsp; 40632 |
| &nbsp;&nbsp;&nbsp;Sinclair, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1451 | &nbsp;&nbsp;&nbsp;&nbsp; 20981 |
| &nbsp;&nbsp;&nbsp;Sphere Entertainment Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2391 | &nbsp;&nbsp;&nbsp;&nbsp; 102933 |
| &nbsp;&nbsp;&nbsp;TEGNA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1366 | &nbsp;&nbsp;&nbsp;&nbsp; 22812 |
| &nbsp;&nbsp;&nbsp;Walt Disney Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1948 | &nbsp;&nbsp;&nbsp;&nbsp; 232026 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1577818 |
| **Metal Fabricate/Hardware — 0.1%** | **Metal Fabricate/Hardware — 0.1%** | **Metal Fabricate/Hardware — 0.1%** |
| &nbsp;&nbsp;&nbsp;RBC Bearings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573 | &nbsp;&nbsp;&nbsp;&nbsp; 221946 |
| &nbsp;&nbsp;&nbsp;Timken Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1191 | &nbsp;&nbsp;&nbsp;&nbsp; 90623 |
| &nbsp;&nbsp;&nbsp;Xometry, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1929 | &nbsp;&nbsp;&nbsp;&nbsp; 62384 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374953 |
| **Mining — 0.5%** | **Mining — 0.5%** | **Mining — 0.5%** |
| &nbsp;&nbsp;&nbsp;Antofagasta PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35791 | &nbsp;&nbsp;&nbsp;&nbsp; 887208 |
| &nbsp;&nbsp;&nbsp;BHP Group, Ltd. (ASX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16753 | &nbsp;&nbsp;&nbsp;&nbsp; 422578 |
| &nbsp;&nbsp;&nbsp;BHP Group, Ltd. (LSE) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23144 | &nbsp;&nbsp;&nbsp;&nbsp; 582877 |
| &nbsp;&nbsp;&nbsp;Franco-Nevada Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1719 | &nbsp;&nbsp;&nbsp;&nbsp; 273888 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18871 | &nbsp;&nbsp;&nbsp;&nbsp; 759369 |
| &nbsp;&nbsp;&nbsp;Ivanhoe Electric, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12096 | &nbsp;&nbsp;&nbsp;&nbsp; 115638 |
| &nbsp;&nbsp;&nbsp;MP Materials Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3940 | &nbsp;&nbsp;&nbsp;&nbsp; 242310 |
| &nbsp;&nbsp;&nbsp;Royal Gold, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597 | &nbsp;&nbsp;&nbsp;&nbsp; 90398 |
| &nbsp;&nbsp;&nbsp;Uranium Energy Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17448 | &nbsp;&nbsp;&nbsp;&nbsp; 151274 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3525540 |
| **Miscellaneous Manufacturing — 0.9%** | **Miscellaneous Manufacturing — 0.9%** | **Miscellaneous Manufacturing — 0.9%** |
| &nbsp;&nbsp;&nbsp;Carlisle Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343 | &nbsp;&nbsp;&nbsp;&nbsp; 121665 |
| &nbsp;&nbsp;&nbsp;Fabrinet† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715 | &nbsp;&nbsp;&nbsp;&nbsp; 231467 |
| &nbsp;&nbsp;&nbsp;Illinois Tool Works, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1289 | &nbsp;&nbsp;&nbsp;&nbsp; 329945 |
| &nbsp;&nbsp;&nbsp;JBT Marel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561 | &nbsp;&nbsp;&nbsp;&nbsp; 77306 |
| &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2635 | &nbsp;&nbsp;&nbsp;&nbsp; 1928556 |
| &nbsp;&nbsp;&nbsp;Siemens AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14790 | &nbsp;&nbsp;&nbsp;&nbsp; 3795939 |
| &nbsp;&nbsp;&nbsp;Teledyne Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479 | &nbsp;&nbsp;&nbsp;&nbsp; 263939 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6748817 |
| **Office Furnishings — 0.0%** | **Office Furnishings — 0.0%** | **Office Furnishings — 0.0%** |
| &nbsp;&nbsp;&nbsp;Steelcase, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5019 | &nbsp;&nbsp;&nbsp;&nbsp; 51846 |
| **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp;Pitney Bowes, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5109 | &nbsp;&nbsp;&nbsp;&nbsp; 58038 |
| &nbsp;&nbsp;&nbsp;Zebra Technologies Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp; 72890 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130928 |
| **Oil & Gas — 2.5%** | **Oil & Gas — 2.5%** | **Oil & Gas — 2.5%** |
| &nbsp;&nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15285 | &nbsp;&nbsp;&nbsp;&nbsp; 2317817 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32326 | &nbsp;&nbsp;&nbsp;&nbsp; 3081961 |
| &nbsp;&nbsp;&nbsp;DCC PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8327 | &nbsp;&nbsp;&nbsp;&nbsp; 523460 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3877 | &nbsp;&nbsp;&nbsp;&nbsp; 576355 |
| &nbsp;&nbsp;&nbsp;EOG Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6939 | &nbsp;&nbsp;&nbsp;&nbsp; 832819 |
| &nbsp;&nbsp;&nbsp;EQT Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11549 | &nbsp;&nbsp;&nbsp;&nbsp; 620759 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| &nbsp;&nbsp;&nbsp;Equinor ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45728 | &nbsp;&nbsp;$1184035 |
| &nbsp;&nbsp;&nbsp;Expand Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;679 | &nbsp;&nbsp;&nbsp;&nbsp; 71146 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27721 | &nbsp;&nbsp;&nbsp;&nbsp; 3094772 |
| &nbsp;&nbsp;&nbsp;HF Sinclair Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2869 | &nbsp;&nbsp;&nbsp;&nbsp; 126064 |
| &nbsp;&nbsp;&nbsp;Magnolia Oil & Gas Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2271 | &nbsp;&nbsp;&nbsp;&nbsp; 54095 |
| &nbsp;&nbsp;&nbsp;Ovintiv, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2281 | &nbsp;&nbsp;&nbsp;&nbsp; 93931 |
| &nbsp;&nbsp;&nbsp;Permian Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13156 | &nbsp;&nbsp;&nbsp;&nbsp; 186289 |
| &nbsp;&nbsp;&nbsp;Phillips 66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1098 | &nbsp;&nbsp;&nbsp;&nbsp; 135691 |
| &nbsp;&nbsp;&nbsp;Range Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39865 | &nbsp;&nbsp;&nbsp;&nbsp; 1463843 |
| &nbsp;&nbsp;&nbsp;Shell PLC ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24935 | &nbsp;&nbsp;&nbsp;&nbsp; 1800556 |
| &nbsp;&nbsp;&nbsp;SM Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1776 | &nbsp;&nbsp;&nbsp;&nbsp; 49000 |
| &nbsp;&nbsp;&nbsp;Texas Pacific Land Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 | &nbsp;&nbsp;&nbsp;&nbsp; 45502 |
| &nbsp;&nbsp;&nbsp;TotalEnergies SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31001 | &nbsp;&nbsp;&nbsp;&nbsp; 1840380 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9041 | &nbsp;&nbsp;&nbsp;&nbsp; 1241420 |
| &nbsp;&nbsp;&nbsp;Viper Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3631 | &nbsp;&nbsp;&nbsp;&nbsp; 136743 |
| &nbsp;&nbsp;&nbsp;Weatherford International PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2663 | &nbsp;&nbsp;&nbsp;&nbsp; 150593 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;19627231 |
| **Oil & Gas Services — 0.4%** | **Oil & Gas Services — 0.4%** | **Oil & Gas Services — 0.4%** |
| &nbsp;&nbsp;&nbsp;Expro Group Holdings NV† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3559 | &nbsp;&nbsp;&nbsp;&nbsp; 38366 |
| &nbsp;&nbsp;&nbsp;Flowco Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1312 | &nbsp;&nbsp;&nbsp;&nbsp; 24534 |
| &nbsp;&nbsp;&nbsp;Kodiak Gas Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1416 | &nbsp;&nbsp;&nbsp;&nbsp; 45779 |
| &nbsp;&nbsp;&nbsp;Schlumberger NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63591 | &nbsp;&nbsp;&nbsp;&nbsp; 2149376 |
| &nbsp;&nbsp;&nbsp;TechnipFMC PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27731 | &nbsp;&nbsp;&nbsp;&nbsp; 1008577 |
| &nbsp;&nbsp;&nbsp;Tidewater, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1061 | &nbsp;&nbsp;&nbsp;&nbsp; 53061 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3319693 |
| **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** |
| &nbsp;&nbsp;&nbsp;Ball Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13852 | &nbsp;&nbsp;&nbsp;&nbsp; 793165 |
| &nbsp;&nbsp;&nbsp;Crown Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022 | &nbsp;&nbsp;&nbsp;&nbsp; 101546 |
| &nbsp;&nbsp;&nbsp;Greif, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp;&nbsp; 41031 |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201 | &nbsp;&nbsp;&nbsp;&nbsp; 38944 |
| &nbsp;&nbsp;&nbsp;Sonoco Products Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2359 | &nbsp;&nbsp;&nbsp;&nbsp; 106320 |
| &nbsp;&nbsp;&nbsp;Stora Enso Oyj, Class R | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39437 | &nbsp;&nbsp;&nbsp;&nbsp; 406580 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1487586 |
| **Pharmaceuticals — 3.3%** | **Pharmaceuticals — 3.3%** | **Pharmaceuticals — 3.3%** |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10016 | &nbsp;&nbsp;&nbsp;&nbsp; 1893224 |
| &nbsp;&nbsp;&nbsp;Agios Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1371 | &nbsp;&nbsp;&nbsp;&nbsp; 51029 |
| &nbsp;&nbsp;&nbsp;Alkermes PLC† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3158 | &nbsp;&nbsp;&nbsp;&nbsp; 83655 |
| &nbsp;&nbsp;&nbsp;Arvinas, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7385 | &nbsp;&nbsp;&nbsp;&nbsp; 54944 |
| &nbsp;&nbsp;&nbsp;AstraZeneca PLC ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59476 | &nbsp;&nbsp;&nbsp;&nbsp; 4347101 |
| &nbsp;&nbsp;&nbsp;Becton Dickinson & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6840 | &nbsp;&nbsp;&nbsp;&nbsp; 1219230 |
| &nbsp;&nbsp;&nbsp;Cardinal Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423 | &nbsp;&nbsp;&nbsp;&nbsp; 65658 |
| &nbsp;&nbsp;&nbsp;Cencora, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5941 | &nbsp;&nbsp;&nbsp;&nbsp; 1699601 |
| &nbsp;&nbsp;&nbsp;Chugai Pharmaceutical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19800 | &nbsp;&nbsp;&nbsp;&nbsp; 966366 |
| &nbsp;&nbsp;&nbsp;Chugai Pharmaceutical Co., Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11303 | &nbsp;&nbsp;&nbsp;&nbsp; 272176 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3521 | &nbsp;&nbsp;&nbsp;&nbsp; 218654 |
| &nbsp;&nbsp;&nbsp;Elanco Animal Health, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10541 | &nbsp;&nbsp;&nbsp;&nbsp; 144201 |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7912 | &nbsp;&nbsp;&nbsp;&nbsp; 5855434 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3137 | &nbsp;&nbsp;&nbsp;&nbsp; 516789 |
| &nbsp;&nbsp;&nbsp;Madrigal Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262 | &nbsp;&nbsp;&nbsp;&nbsp; 79258 |
| &nbsp;&nbsp;&nbsp;McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2130 | &nbsp;&nbsp;&nbsp;&nbsp; 1477240 |
| &nbsp;&nbsp;&nbsp;Merck & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3253 | &nbsp;&nbsp;&nbsp;&nbsp; 254124 |
| &nbsp;&nbsp;&nbsp;Neurocrine Biosciences, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1068 | &nbsp;&nbsp;&nbsp;&nbsp; 136950 |
| &nbsp;&nbsp;&nbsp;Novartis AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13676 | &nbsp;&nbsp;&nbsp;&nbsp; 1585894 |
| &nbsp;&nbsp;&nbsp;Novo Nordisk A/S, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18263 | &nbsp;&nbsp;&nbsp;&nbsp; 878143 |
| &nbsp;&nbsp;&nbsp;Option Care Health, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2538 | &nbsp;&nbsp;&nbsp;&nbsp; 74490 |
| &nbsp;&nbsp;&nbsp;Pfizer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3515 | &nbsp;&nbsp;&nbsp;&nbsp; 81864 |
| &nbsp;&nbsp;&nbsp;Protagonist Therapeutics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp; 36356 |
| &nbsp;&nbsp;&nbsp;Rhythm Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp; 55400 |
| &nbsp;&nbsp;&nbsp;Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6357 | &nbsp;&nbsp;&nbsp;&nbsp; 2012170 |
| &nbsp;&nbsp;&nbsp;Sanofi SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14294 | &nbsp;&nbsp;&nbsp;&nbsp; 1286062 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| &nbsp;&nbsp;&nbsp;Vaxcyte, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1326 | &nbsp;&nbsp;$45018 |
| &nbsp;&nbsp;&nbsp;Viatris, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15678 | &nbsp;&nbsp;&nbsp;&nbsp; 137026 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;25528057 |
| **Pipelines — 0.2%** | **Pipelines — 0.2%** | **Pipelines — 0.2%** |
| &nbsp;&nbsp;&nbsp;Cheniere Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1412 | &nbsp;&nbsp;&nbsp;&nbsp; 333062 |
| &nbsp;&nbsp;&nbsp;Targa Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1271 | &nbsp;&nbsp;&nbsp;&nbsp; 211507 |
| &nbsp;&nbsp;&nbsp;Williams Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13605 | &nbsp;&nbsp;&nbsp;&nbsp; 815620 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1360189 |
| **Private Equity — 0.3%** | **Private Equity — 0.3%** | **Private Equity — 0.3%** |
| &nbsp;&nbsp;&nbsp;Blackstone, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747 | &nbsp;&nbsp;&nbsp;&nbsp; 129201 |
| &nbsp;&nbsp;&nbsp;Bridgepoint Group PLC\* | &nbsp;&nbsp;&nbsp;&nbsp;102220 | &nbsp;&nbsp;&nbsp;&nbsp; 442520 |
| &nbsp;&nbsp;&nbsp;Brookfield Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15419 | &nbsp;&nbsp;&nbsp;&nbsp; 1032792 |
| &nbsp;&nbsp;&nbsp;CVC Capital Partners PLC\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26081 | &nbsp;&nbsp;&nbsp;&nbsp; 503303 |
| &nbsp;&nbsp;&nbsp;KKR & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1605 | &nbsp;&nbsp;&nbsp;&nbsp; 235261 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2343077 |
| **Real Estate — 0.2%** | **Real Estate — 0.2%** | **Real Estate — 0.2%** |
| &nbsp;&nbsp;&nbsp;CBRE Group, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985 | &nbsp;&nbsp;&nbsp;&nbsp; 153404 |
| &nbsp;&nbsp;&nbsp;CoStar Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378 | &nbsp;&nbsp;&nbsp;&nbsp; 35982 |
| &nbsp;&nbsp;&nbsp;Howard Hughes Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341 | &nbsp;&nbsp;&nbsp;&nbsp; 23437 |
| &nbsp;&nbsp;&nbsp;Jones Lang LaSalle, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648 | &nbsp;&nbsp;&nbsp;&nbsp; 175193 |
| &nbsp;&nbsp;&nbsp;Mitsui Fudosan Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;105300 | &nbsp;&nbsp;&nbsp;&nbsp; 948608 |
| &nbsp;&nbsp;&nbsp;Transcontinental Realty Investors, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1179 | &nbsp;&nbsp;&nbsp;&nbsp; 48339 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1384963 |
| **REITS — 1.4%** | **REITS — 1.4%** | **REITS — 1.4%** |
| &nbsp;&nbsp;&nbsp;Acadia Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7413 | &nbsp;&nbsp;&nbsp;&nbsp; 138771 |
| &nbsp;&nbsp;&nbsp;American Homes 4 Rent, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2781 | &nbsp;&nbsp;&nbsp;&nbsp; 96473 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6137 | &nbsp;&nbsp;&nbsp;&nbsp; 1278889 |
| &nbsp;&nbsp;&nbsp;Americold Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1909 | &nbsp;&nbsp;&nbsp;&nbsp; 30697 |
| &nbsp;&nbsp;&nbsp;Annaly Capital Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38135 | &nbsp;&nbsp;&nbsp;&nbsp; 775285 |
| &nbsp;&nbsp;&nbsp;Apple Hospitality REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5991 | &nbsp;&nbsp;&nbsp;&nbsp; 70394 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp;&nbsp;&nbsp; 70600 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp; 29484 |
| &nbsp;&nbsp;&nbsp;Crown Castle, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;873 | &nbsp;&nbsp;&nbsp;&nbsp; 91744 |
| &nbsp;&nbsp;&nbsp;CubeSmart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4913 | &nbsp;&nbsp;&nbsp;&nbsp; 191165 |
| &nbsp;&nbsp;&nbsp;Douglas Emmett, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6141 | &nbsp;&nbsp;&nbsp;&nbsp; 93098 |
| &nbsp;&nbsp;&nbsp;EastGroup Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389 | &nbsp;&nbsp;&nbsp;&nbsp; 63500 |
| &nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314 | &nbsp;&nbsp;&nbsp;&nbsp; 246543 |
| &nbsp;&nbsp;&nbsp;Equity LifeStyle Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2702 | &nbsp;&nbsp;&nbsp;&nbsp; 161904 |
| &nbsp;&nbsp;&nbsp;Equity Residential | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17502 | &nbsp;&nbsp;&nbsp;&nbsp; 1106126 |
| &nbsp;&nbsp;&nbsp;Essex Property Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3036 | &nbsp;&nbsp;&nbsp;&nbsp; 789907 |
| &nbsp;&nbsp;&nbsp;Gaming & Leisure Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882 | &nbsp;&nbsp;&nbsp;&nbsp; 40202 |
| &nbsp;&nbsp;&nbsp;Healthcare Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5453 | &nbsp;&nbsp;&nbsp;&nbsp; 83758 |
| &nbsp;&nbsp;&nbsp;Kilroy Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2048 | &nbsp;&nbsp;&nbsp;&nbsp; 75489 |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2485 | &nbsp;&nbsp;&nbsp;&nbsp; 52757 |
| &nbsp;&nbsp;&nbsp;Lamar Advertising Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1177 | &nbsp;&nbsp;&nbsp;&nbsp; 143888 |
| &nbsp;&nbsp;&nbsp;Lineage, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;923 | &nbsp;&nbsp;&nbsp;&nbsp; 39828 |
| &nbsp;&nbsp;&nbsp;LTC Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;836 | &nbsp;&nbsp;&nbsp;&nbsp; 28457 |
| &nbsp;&nbsp;&nbsp;NNN REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2393 | &nbsp;&nbsp;&nbsp;&nbsp; 98735 |
| &nbsp;&nbsp;&nbsp;Omega Healthcare Investors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2114 | &nbsp;&nbsp;&nbsp;&nbsp; 82235 |
| &nbsp;&nbsp;&nbsp;Orchid Island Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3845 | &nbsp;&nbsp;&nbsp;&nbsp; 26761 |
| &nbsp;&nbsp;&nbsp;Outfront Media, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1227 | &nbsp;&nbsp;&nbsp;&nbsp; 21509 |
| &nbsp;&nbsp;&nbsp;Pebblebrook Hotel Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3305 | &nbsp;&nbsp;&nbsp;&nbsp; 33149 |
| &nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2361 | &nbsp;&nbsp;&nbsp;&nbsp; 252108 |
| &nbsp;&nbsp;&nbsp;Public Storage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2351 | &nbsp;&nbsp;&nbsp;&nbsp; 639331 |
| &nbsp;&nbsp;&nbsp;Rayonier, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3042 | &nbsp;&nbsp;&nbsp;&nbsp; 70909 |
| &nbsp;&nbsp;&nbsp;Regency Centers Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715 | &nbsp;&nbsp;&nbsp;&nbsp; 51051 |
| &nbsp;&nbsp;&nbsp;Rexford Industrial Realty, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8523 | &nbsp;&nbsp;&nbsp;&nbsp; 311345 |
| &nbsp;&nbsp;&nbsp;Rithm Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9791 | &nbsp;&nbsp;&nbsp;&nbsp; 117786 |
| &nbsp;&nbsp;&nbsp;Scentre Group | &nbsp;&nbsp;&nbsp;&nbsp;331216 | &nbsp;&nbsp;&nbsp;&nbsp; 798210 |
| &nbsp;&nbsp;&nbsp;Segro PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36568 | &nbsp;&nbsp;&nbsp;&nbsp; 312652 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **REITS (continued)** | **REITS (continued)** | **REITS (continued)** |
| &nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491 | &nbsp;&nbsp;$80421 |
| &nbsp;&nbsp;&nbsp;Smartstop Self Storage REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1324 | &nbsp;&nbsp;&nbsp;&nbsp; 44857 |
| &nbsp;&nbsp;&nbsp;Starwood Property Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3507 | &nbsp;&nbsp;&nbsp;&nbsp; 68246 |
| &nbsp;&nbsp;&nbsp;Sun Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp; 297672 |
| &nbsp;&nbsp;&nbsp;Terreno Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1692 | &nbsp;&nbsp;&nbsp;&nbsp; 93889 |
| &nbsp;&nbsp;&nbsp;Ventas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;929 | &nbsp;&nbsp;&nbsp;&nbsp; 62410 |
| &nbsp;&nbsp;&nbsp;VICI Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16853 | &nbsp;&nbsp;&nbsp;&nbsp; 549408 |
| &nbsp;&nbsp;&nbsp;Vornado Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2238 | &nbsp;&nbsp;&nbsp;&nbsp; 85984 |
| &nbsp;&nbsp;&nbsp;Welltower, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7657 | &nbsp;&nbsp;&nbsp;&nbsp; 1263941 |
| &nbsp;&nbsp;&nbsp;WP Carey, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1782 | &nbsp;&nbsp;&nbsp;&nbsp; 114333 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;11175901 |
| **Retail — 4.2%** | **Retail — 4.2%** | **Retail — 4.2%** |
| &nbsp;&nbsp;&nbsp;Advance Auto Parts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2350 | &nbsp;&nbsp;&nbsp;&nbsp; 124715 |
| &nbsp;&nbsp;&nbsp;AutoZone, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489 | &nbsp;&nbsp;&nbsp;&nbsp; 1842738 |
| &nbsp;&nbsp;&nbsp;Bath & Body Works, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4629 | &nbsp;&nbsp;&nbsp;&nbsp; 134056 |
| &nbsp;&nbsp;&nbsp;BJ's Wholesale Club Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1738 | &nbsp;&nbsp;&nbsp;&nbsp; 184054 |
| &nbsp;&nbsp;&nbsp;Brinker International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831 | &nbsp;&nbsp;&nbsp;&nbsp; 130966 |
| &nbsp;&nbsp;&nbsp;Burlington Stores, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931 | &nbsp;&nbsp;&nbsp;&nbsp; 254126 |
| &nbsp;&nbsp;&nbsp;Caleres, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6542 | &nbsp;&nbsp;&nbsp;&nbsp; 89822 |
| &nbsp;&nbsp;&nbsp;Carvana Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10854 | &nbsp;&nbsp;&nbsp;&nbsp; 4234905 |
| &nbsp;&nbsp;&nbsp;Casey's General Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496 | &nbsp;&nbsp;&nbsp;&nbsp; 257985 |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20433 | &nbsp;&nbsp;&nbsp;&nbsp; 876167 |
| &nbsp;&nbsp;&nbsp;Citi Trends, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;907 | &nbsp;&nbsp;&nbsp;&nbsp; 27682 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1515 | &nbsp;&nbsp;&nbsp;&nbsp; 1423555 |
| &nbsp;&nbsp;&nbsp;Darden Restaurants, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;&nbsp; 53241 |
| &nbsp;&nbsp;&nbsp;Dick's Sporting Goods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242 | &nbsp;&nbsp;&nbsp;&nbsp; 51185 |
| &nbsp;&nbsp;&nbsp;Dollar Tree, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7914 | &nbsp;&nbsp;&nbsp;&nbsp; 898635 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166 | &nbsp;&nbsp;&nbsp;&nbsp; 76893 |
| &nbsp;&nbsp;&nbsp;Ferguson Enterprises, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5101 | &nbsp;&nbsp;&nbsp;&nbsp; 1139206 |
| &nbsp;&nbsp;&nbsp;Five Below, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764 | &nbsp;&nbsp;&nbsp;&nbsp; 104301 |
| &nbsp;&nbsp;&nbsp;Floor & Decor Holdings, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1573 | &nbsp;&nbsp;&nbsp;&nbsp; 120555 |
| &nbsp;&nbsp;&nbsp;Freshpet, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;739 | &nbsp;&nbsp;&nbsp;&nbsp; 50488 |
| &nbsp;&nbsp;&nbsp;GameStop Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1169 | &nbsp;&nbsp;&nbsp;&nbsp; 26244 |
| &nbsp;&nbsp;&nbsp;Home Depot, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10336 | &nbsp;&nbsp;&nbsp;&nbsp; 3798583 |
| &nbsp;&nbsp;&nbsp;Isetan Mitsukoshi Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50800 | &nbsp;&nbsp;&nbsp;&nbsp; 726123 |
| &nbsp;&nbsp;&nbsp;Jack in the Box, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667 | &nbsp;&nbsp;&nbsp;&nbsp; 13140 |
| &nbsp;&nbsp;&nbsp;Kingfisher PLC | &nbsp;&nbsp;&nbsp;&nbsp;220832 | &nbsp;&nbsp;&nbsp;&nbsp; 788891 |
| &nbsp;&nbsp;&nbsp;Kohl's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2636 | &nbsp;&nbsp;&nbsp;&nbsp; 28574 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1062 | &nbsp;&nbsp;&nbsp;&nbsp; 237431 |
| &nbsp;&nbsp;&nbsp;Lululemon Athletica, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494 | &nbsp;&nbsp;&nbsp;&nbsp; 99062 |
| &nbsp;&nbsp;&nbsp;McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10997 | &nbsp;&nbsp;&nbsp;&nbsp; 3299870 |
| &nbsp;&nbsp;&nbsp;Moncler SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11145 | &nbsp;&nbsp;&nbsp;&nbsp; 597014 |
| &nbsp;&nbsp;&nbsp;MSC Industrial Direct Co., Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1367 | &nbsp;&nbsp;&nbsp;&nbsp; 118410 |
| &nbsp;&nbsp;&nbsp;Next PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6820 | &nbsp;&nbsp;&nbsp;&nbsp; 1108741 |
| &nbsp;&nbsp;&nbsp;ODP Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1161 | &nbsp;&nbsp;&nbsp;&nbsp; 20712 |
| &nbsp;&nbsp;&nbsp;Ollie's Bargain Outlet Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;942 | &nbsp;&nbsp;&nbsp;&nbsp; 128705 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2550 | &nbsp;&nbsp;&nbsp;&nbsp; 250716 |
| &nbsp;&nbsp;&nbsp;Patrick Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946 | &nbsp;&nbsp;&nbsp;&nbsp; 91989 |
| &nbsp;&nbsp;&nbsp;Penske Automotive Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273 | &nbsp;&nbsp;&nbsp;&nbsp; 45703 |
| &nbsp;&nbsp;&nbsp;RH† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp;&nbsp;&nbsp; 64770 |
| &nbsp;&nbsp;&nbsp;Ross Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20065 | &nbsp;&nbsp;&nbsp;&nbsp; 2739675 |
| &nbsp;&nbsp;&nbsp;TJX Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5393 | &nbsp;&nbsp;&nbsp;&nbsp; 671590 |
| &nbsp;&nbsp;&nbsp;Tractor Supply Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7089 | &nbsp;&nbsp;&nbsp;&nbsp; 403719 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp; 74676 |
| &nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38234 | &nbsp;&nbsp;&nbsp;&nbsp; 3746167 |
| &nbsp;&nbsp;&nbsp;Wendy's Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3041 | &nbsp;&nbsp;&nbsp;&nbsp; 29954 |
| &nbsp;&nbsp;&nbsp;Wingstop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743 | &nbsp;&nbsp;&nbsp;&nbsp; 280364 |
| &nbsp;&nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4136 | &nbsp;&nbsp;&nbsp;&nbsp; 596204 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;32062302 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Savings & Loans — 0.0%** | **Savings & Loans — 0.0%** | **Savings & Loans — 0.0%** |
| &nbsp;&nbsp;&nbsp;Capitol Federal Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10337 | &nbsp;&nbsp;$62229 |
| &nbsp;&nbsp;&nbsp;Flagstar Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5659 | &nbsp;&nbsp;&nbsp;&nbsp; 63890 |
| &nbsp;&nbsp;&nbsp;Pacific Premier Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2784 | &nbsp;&nbsp;&nbsp;&nbsp; 60329 |
| &nbsp;&nbsp;&nbsp;TFS Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3140 | &nbsp;&nbsp;&nbsp;&nbsp; 41166 |
| &nbsp;&nbsp;&nbsp;WSFS Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1412 | &nbsp;&nbsp;&nbsp;&nbsp; 77434 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305048 |
| **Semiconductors — 7.9%** | **Semiconductors — 7.9%** | **Semiconductors — 7.9%** |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4777 | &nbsp;&nbsp;&nbsp;&nbsp; 842233 |
| &nbsp;&nbsp;&nbsp;Amkor Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2223 | &nbsp;&nbsp;&nbsp;&nbsp; 50151 |
| &nbsp;&nbsp;&nbsp;Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10931 | &nbsp;&nbsp;&nbsp;&nbsp; 2455430 |
| &nbsp;&nbsp;&nbsp;Applied Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5728 | &nbsp;&nbsp;&nbsp;&nbsp; 1031384 |
| &nbsp;&nbsp;&nbsp;ASML Holding NV (NASDAQ) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1095 | &nbsp;&nbsp;&nbsp;&nbsp; 760707 |
| &nbsp;&nbsp;&nbsp;ASML Holding NV (XAMS) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2983 | &nbsp;&nbsp;&nbsp;&nbsp; 2087114 |
| &nbsp;&nbsp;&nbsp;BE Semiconductor Industries NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3120 | &nbsp;&nbsp;&nbsp;&nbsp; 424060 |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36051 | &nbsp;&nbsp;&nbsp;&nbsp; 10588179 |
| &nbsp;&nbsp;&nbsp;Entegris, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2156 | &nbsp;&nbsp;&nbsp;&nbsp; 169160 |
| &nbsp;&nbsp;&nbsp;Hamamatsu Photonics KK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24800 | &nbsp;&nbsp;&nbsp;&nbsp; 304491 |
| &nbsp;&nbsp;&nbsp;Impinj, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598 | &nbsp;&nbsp;&nbsp;&nbsp; 92439 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20024 | &nbsp;&nbsp;&nbsp;&nbsp; 396475 |
| &nbsp;&nbsp;&nbsp;KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp; 2549187 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2633 | &nbsp;&nbsp;&nbsp;&nbsp; 249714 |
| &nbsp;&nbsp;&nbsp;Lattice Semiconductor Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2681 | &nbsp;&nbsp;&nbsp;&nbsp; 133594 |
| &nbsp;&nbsp;&nbsp;MACOM Technology Solutions Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007 | &nbsp;&nbsp;&nbsp;&nbsp; 138100 |
| &nbsp;&nbsp;&nbsp;Marvell Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7783 | &nbsp;&nbsp;&nbsp;&nbsp; 625520 |
| &nbsp;&nbsp;&nbsp;MaxLinear, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1978 | &nbsp;&nbsp;&nbsp;&nbsp; 31292 |
| &nbsp;&nbsp;&nbsp;Microchip Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891 | &nbsp;&nbsp;&nbsp;&nbsp; 60223 |
| &nbsp;&nbsp;&nbsp;MKS, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1526 | &nbsp;&nbsp;&nbsp;&nbsp; 145245 |
| &nbsp;&nbsp;&nbsp;Monolithic Power Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999 | &nbsp;&nbsp;&nbsp;&nbsp; 710529 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;142527 | &nbsp;&nbsp;&nbsp;&nbsp; 25351277 |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4578 | &nbsp;&nbsp;&nbsp;&nbsp; 978639 |
| &nbsp;&nbsp;&nbsp;QUALCOMM, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6118 | &nbsp;&nbsp;&nbsp;&nbsp; 897878 |
| &nbsp;&nbsp;&nbsp;Rambus, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2027 | &nbsp;&nbsp;&nbsp;&nbsp; 149856 |
| &nbsp;&nbsp;&nbsp;Renesas Electronics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32700 | &nbsp;&nbsp;&nbsp;&nbsp; 404630 |
| &nbsp;&nbsp;&nbsp;Samsung Electronics Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19261 | &nbsp;&nbsp;&nbsp;&nbsp; 991661 |
| &nbsp;&nbsp;&nbsp;Synaptics, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855 | &nbsp;&nbsp;&nbsp;&nbsp; 53608 |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86000 | &nbsp;&nbsp;&nbsp;&nbsp; 3342323 |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co., Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5472 | &nbsp;&nbsp;&nbsp;&nbsp; 1322145 |
| &nbsp;&nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14974 | &nbsp;&nbsp;&nbsp;&nbsp; 2711192 |
| &nbsp;&nbsp;&nbsp;Tokyo Electron, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp; 906167 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;60954603 |
| **Software — 7.2%** | **Software — 7.2%** | **Software — 7.2%** |
| &nbsp;&nbsp;&nbsp;Adobe, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818 | &nbsp;&nbsp;&nbsp;&nbsp; 292590 |
| &nbsp;&nbsp;&nbsp;Alignment Healthcare, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2280 | &nbsp;&nbsp;&nbsp;&nbsp; 31418 |
| &nbsp;&nbsp;&nbsp;Appfolio, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424 | &nbsp;&nbsp;&nbsp;&nbsp; 113369 |
| &nbsp;&nbsp;&nbsp;AppLovin Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1813 | &nbsp;&nbsp;&nbsp;&nbsp; 708339 |
| &nbsp;&nbsp;&nbsp;Asure Software, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4795 | &nbsp;&nbsp;&nbsp;&nbsp; 46512 |
| &nbsp;&nbsp;&nbsp;Atlassian Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1590 | &nbsp;&nbsp;&nbsp;&nbsp; 304930 |
| &nbsp;&nbsp;&nbsp;Autodesk, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462 | &nbsp;&nbsp;&nbsp;&nbsp; 140037 |
| &nbsp;&nbsp;&nbsp;Bandwidth, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1378 | &nbsp;&nbsp;&nbsp;&nbsp; 19168 |
| &nbsp;&nbsp;&nbsp;BILL Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2101 | &nbsp;&nbsp;&nbsp;&nbsp; 90028 |
| &nbsp;&nbsp;&nbsp;Braze, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2692 | &nbsp;&nbsp;&nbsp;&nbsp; 75026 |
| &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5432 | &nbsp;&nbsp;&nbsp;&nbsp; 1344474 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;844 | &nbsp;&nbsp;&nbsp;&nbsp; 307697 |
| &nbsp;&nbsp;&nbsp;CCC Intelligent Solutions Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9586 | &nbsp;&nbsp;&nbsp;&nbsp; 92697 |
| &nbsp;&nbsp;&nbsp;Clearwater Analytics Holdings, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3031 | &nbsp;&nbsp;&nbsp;&nbsp; 61408 |
| &nbsp;&nbsp;&nbsp;Cloudflare, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2160 | &nbsp;&nbsp;&nbsp;&nbsp; 448589 |
| &nbsp;&nbsp;&nbsp;Commvault Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382 | &nbsp;&nbsp;&nbsp;&nbsp; 72561 |
| &nbsp;&nbsp;&nbsp;Confluent, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6354 | &nbsp;&nbsp;&nbsp;&nbsp; 112625 |
| &nbsp;&nbsp;&nbsp;CSG Systems International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;859 | &nbsp;&nbsp;&nbsp;&nbsp; 53653 |
| &nbsp;&nbsp;&nbsp;Datadog, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp;&nbsp;&nbsp; 136481 |
| &nbsp;&nbsp;&nbsp;Dayforce, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1259 | &nbsp;&nbsp;&nbsp;&nbsp; 72607 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp;Descartes Systems Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1167 | &nbsp;&nbsp;$123422 |
| &nbsp;&nbsp;&nbsp;DocuSign, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2643 | &nbsp;&nbsp;&nbsp;&nbsp; 199917 |
| &nbsp;&nbsp;&nbsp;Donnelley Financial Solutions, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401 | &nbsp;&nbsp;&nbsp;&nbsp; 21237 |
| &nbsp;&nbsp;&nbsp;Duolingo, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582 | &nbsp;&nbsp;&nbsp;&nbsp; 201692 |
| &nbsp;&nbsp;&nbsp;Dynatrace, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4290 | &nbsp;&nbsp;&nbsp;&nbsp; 225697 |
| &nbsp;&nbsp;&nbsp;Electronic Arts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452 | &nbsp;&nbsp;&nbsp;&nbsp; 68925 |
| &nbsp;&nbsp;&nbsp;Evolent Health, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3396 | &nbsp;&nbsp;&nbsp;&nbsp; 34130 |
| &nbsp;&nbsp;&nbsp;Fair Isaac Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp; 114938 |
| &nbsp;&nbsp;&nbsp;Fiserv, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3495 | &nbsp;&nbsp;&nbsp;&nbsp; 485595 |
| &nbsp;&nbsp;&nbsp;HubSpot, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491 | &nbsp;&nbsp;&nbsp;&nbsp; 255148 |
| &nbsp;&nbsp;&nbsp;Ibotta, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649 | &nbsp;&nbsp;&nbsp;&nbsp; 23591 |
| &nbsp;&nbsp;&nbsp;Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2543 | &nbsp;&nbsp;&nbsp;&nbsp; 1996586 |
| &nbsp;&nbsp;&nbsp;Manhattan Associates, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 87864 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61684 | &nbsp;&nbsp;&nbsp;&nbsp; 32908414 |
| &nbsp;&nbsp;&nbsp;MicroStrategy, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1773 | &nbsp;&nbsp;&nbsp;&nbsp; 712498 |
| &nbsp;&nbsp;&nbsp;Monday.com, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp; 13901 |
| &nbsp;&nbsp;&nbsp;MongoDB, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424 | &nbsp;&nbsp;&nbsp;&nbsp; 100865 |
| &nbsp;&nbsp;&nbsp;Nutanix, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3419 | &nbsp;&nbsp;&nbsp;&nbsp; 257006 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3487 | &nbsp;&nbsp;&nbsp;&nbsp; 884896 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4342 | &nbsp;&nbsp;&nbsp;&nbsp; 687556 |
| &nbsp;&nbsp;&nbsp;Phreesia, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1324 | &nbsp;&nbsp;&nbsp;&nbsp; 35695 |
| &nbsp;&nbsp;&nbsp;Procore Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1810 | &nbsp;&nbsp;&nbsp;&nbsp; 129650 |
| &nbsp;&nbsp;&nbsp;RingCentral, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1540 | &nbsp;&nbsp;&nbsp;&nbsp; 39255 |
| &nbsp;&nbsp;&nbsp;ROBLOX Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3366 | &nbsp;&nbsp;&nbsp;&nbsp; 463801 |
| &nbsp;&nbsp;&nbsp;Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3712 | &nbsp;&nbsp;&nbsp;&nbsp; 2043085 |
| &nbsp;&nbsp;&nbsp;Salesforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2912 | &nbsp;&nbsp;&nbsp;&nbsp; 752257 |
| &nbsp;&nbsp;&nbsp;Samsara, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4811 | &nbsp;&nbsp;&nbsp;&nbsp; 182962 |
| &nbsp;&nbsp;&nbsp;SAP SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8492 | &nbsp;&nbsp;&nbsp;&nbsp; 2430519 |
| &nbsp;&nbsp;&nbsp;ServiceNow, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2490 | &nbsp;&nbsp;&nbsp;&nbsp; 2348369 |
| &nbsp;&nbsp;&nbsp;ServiceTitan, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401 | &nbsp;&nbsp;&nbsp;&nbsp; 46801 |
| &nbsp;&nbsp;&nbsp;Snowflake, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2810 | &nbsp;&nbsp;&nbsp;&nbsp; 628035 |
| &nbsp;&nbsp;&nbsp;SS&C Technologies Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3551 | &nbsp;&nbsp;&nbsp;&nbsp; 303539 |
| &nbsp;&nbsp;&nbsp;Synopsys, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1877 | &nbsp;&nbsp;&nbsp;&nbsp; 1189023 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp; 59023 |
| &nbsp;&nbsp;&nbsp;Twilio, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019 | &nbsp;&nbsp;&nbsp;&nbsp; 131451 |
| &nbsp;&nbsp;&nbsp;Veeva Systems, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1255 | &nbsp;&nbsp;&nbsp;&nbsp; 356671 |
| &nbsp;&nbsp;&nbsp;Workday, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213 | &nbsp;&nbsp;&nbsp;&nbsp; 48858 |
| &nbsp;&nbsp;&nbsp;Workiva, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594 | &nbsp;&nbsp;&nbsp;&nbsp; 37915 |
| &nbsp;&nbsp;&nbsp;Zoom Communications, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1433 | &nbsp;&nbsp;&nbsp;&nbsp; 106114 |
| &nbsp;&nbsp;&nbsp;ZoomInfo Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2005 | &nbsp;&nbsp;&nbsp;&nbsp; 21714 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;55282824 |
| **Telecommunications — 1.2%** | **Telecommunications — 1.2%** | **Telecommunications — 1.2%** |
| &nbsp;&nbsp;&nbsp;A10 Networks, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3677 | &nbsp;&nbsp;&nbsp;&nbsp; 67730 |
| &nbsp;&nbsp;&nbsp;Arista Networks, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2529 | &nbsp;&nbsp;&nbsp;&nbsp; 311623 |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8536 | &nbsp;&nbsp;&nbsp;&nbsp; 233972 |
| &nbsp;&nbsp;&nbsp;BT Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;401633 | &nbsp;&nbsp;&nbsp;&nbsp; 1098493 |
| &nbsp;&nbsp;&nbsp;Ciena Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2583 | &nbsp;&nbsp;&nbsp;&nbsp; 239806 |
| &nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6011 | &nbsp;&nbsp;&nbsp;&nbsp; 409229 |
| &nbsp;&nbsp;&nbsp;GCI Liberty, Inc., Class C† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273 | &nbsp;&nbsp;&nbsp;&nbsp; 9077 |
| &nbsp;&nbsp;&nbsp;InterDigital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp; 127809 |
| &nbsp;&nbsp;&nbsp;Iridium Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3713 | &nbsp;&nbsp;&nbsp;&nbsp; 90820 |
| &nbsp;&nbsp;&nbsp;KDDI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56300 | &nbsp;&nbsp;&nbsp;&nbsp; 927942 |
| &nbsp;&nbsp;&nbsp;KT Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19346 | &nbsp;&nbsp;&nbsp;&nbsp; 770046 |
| &nbsp;&nbsp;&nbsp;Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89866 | &nbsp;&nbsp;&nbsp;&nbsp; 654906 |
| &nbsp;&nbsp;&nbsp;Telephone & Data Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2246 | &nbsp;&nbsp;&nbsp;&nbsp; 87684 |
| &nbsp;&nbsp;&nbsp;T-Mobile US, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16150 | &nbsp;&nbsp;&nbsp;&nbsp; 3850321 |
| &nbsp;&nbsp;&nbsp;Ubiquiti, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp; 69675 |
| &nbsp;&nbsp;&nbsp;United States Cellular Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416 | &nbsp;&nbsp;&nbsp;&nbsp; 30339 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8979472 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Textiles — 0.0%** | **Textiles — 0.0%** | **Textiles — 0.0%** |
| &nbsp;&nbsp;&nbsp;UniFirst Corp. | &nbsp;&nbsp; 409 | &nbsp;&nbsp;$69951 |
| **Toys/Games/Hobbies — 0.0%** | **Toys/Games/Hobbies — 0.0%** | **Toys/Games/Hobbies — 0.0%** |
| &nbsp;&nbsp;&nbsp;Mattel, Inc.† | &nbsp;&nbsp; 4989 | &nbsp;&nbsp;&nbsp;&nbsp; 84863 |
| **Transportation — 0.8%** | **Transportation — 0.8%** | **Transportation — 0.8%** |
| &nbsp;&nbsp;&nbsp;Canadian National Railway Co. | &nbsp;&nbsp; 1413 | &nbsp;&nbsp;&nbsp;&nbsp; 132045 |
| &nbsp;&nbsp;&nbsp;CryoPort, Inc.† | &nbsp;&nbsp; 3231 | &nbsp;&nbsp;&nbsp;&nbsp; 23683 |
| &nbsp;&nbsp;&nbsp;CSX Corp. | &nbsp;&nbsp; 25159 | &nbsp;&nbsp;&nbsp;&nbsp; 894151 |
| &nbsp;&nbsp;&nbsp;FedEx Corp. | &nbsp;&nbsp; 143 | &nbsp;&nbsp;&nbsp;&nbsp; 31959 |
| &nbsp;&nbsp;&nbsp;Hub Group, Inc., Class A | &nbsp;&nbsp; 1461 | &nbsp;&nbsp;&nbsp;&nbsp; 51164 |
| &nbsp;&nbsp;&nbsp;Knight-Swift Transportation Holdings, Inc. | &nbsp;&nbsp; 741 | &nbsp;&nbsp;&nbsp;&nbsp; 31493 |
| &nbsp;&nbsp;&nbsp;Landstar System, Inc. | &nbsp;&nbsp; 582 | &nbsp;&nbsp;&nbsp;&nbsp; 77621 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | &nbsp;&nbsp; 4669 | &nbsp;&nbsp;&nbsp;&nbsp; 1297982 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line, Inc. | &nbsp;&nbsp; 13090 | &nbsp;&nbsp;&nbsp;&nbsp; 1953682 |
| &nbsp;&nbsp;&nbsp;RXO, Inc.† | &nbsp;&nbsp; 2153 | &nbsp;&nbsp;&nbsp;&nbsp; 33264 |
| &nbsp;&nbsp;&nbsp;Saia, Inc.† | &nbsp;&nbsp; 911 | &nbsp;&nbsp;&nbsp;&nbsp; 275341 |
| &nbsp;&nbsp;&nbsp;Union Pacific Corp. | &nbsp;&nbsp; 4577 | &nbsp;&nbsp;&nbsp;&nbsp; 1015957 |
| &nbsp;&nbsp;&nbsp;XPO, Inc.† | &nbsp;&nbsp; 753 | &nbsp;&nbsp;&nbsp;&nbsp; 90578 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5908920 |
| **Water — 0.1%** | **Water — 0.1%** | **Water — 0.1%** |
| &nbsp;&nbsp;&nbsp;American Water Works Co., Inc. | &nbsp;&nbsp; 3868 | &nbsp;&nbsp;&nbsp;&nbsp; 542449 |
| &nbsp;&nbsp;&nbsp;Essential Utilities, Inc. | &nbsp;&nbsp; 3074 | &nbsp;&nbsp;&nbsp;&nbsp; 113123 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655572 |
| **Total Common Stocks<br> (cost $460,094,932)** |  | &nbsp;&nbsp;&nbsp;&nbsp;616211834 |
| **CONVERTIBLE PREFERRED STOCKS — 0.0%** | **CONVERTIBLE PREFERRED STOCKS — 0.0%** | **CONVERTIBLE PREFERRED STOCKS — 0.0%** |
| **Commercial Services — 0.0%** | **Commercial Services — 0.0%** | **Commercial Services — 0.0%** |
| &nbsp;&nbsp;&nbsp;Gusto, Inc.<br> Series E†(1)(2) | &nbsp;&nbsp; 1028 | &nbsp;&nbsp;&nbsp;&nbsp; 26214 |
| **Computer Graphics — 0.0%** | **Computer Graphics — 0.0%** | **Computer Graphics — 0.0%** |
| &nbsp;&nbsp;&nbsp;Canva, Inc.<br> Series A †(1)(2) | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; 2750 |
| **Software — 0.0%** | **Software — 0.0%** | **Software — 0.0%** |
| &nbsp;&nbsp;&nbsp;Databricks, Inc.<br> Series G †(1)(2) | &nbsp;&nbsp; 300 | &nbsp;&nbsp;&nbsp;&nbsp; 31109 |
| &nbsp;&nbsp;&nbsp;Databricks, Inc.<br> Series H†(1)(2) | &nbsp;&nbsp; 858 | &nbsp;&nbsp;&nbsp;&nbsp; 88970 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120079 |
| **Total Convertible Preferred Stocks<br> (cost $115,442)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149043 |
| **CORPORATE BONDS & NOTES — 5.3%** | **CORPORATE BONDS & NOTES — 5.3%** | **CORPORATE BONDS & NOTES — 5.3%** |
| **Aerospace/Defense — 0.1%** | **Aerospace/Defense — 0.1%** | **Aerospace/Defense — 0.1%** |
| &nbsp;&nbsp;&nbsp;Boeing Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.93%, 05/01/2060 | $200000 | &nbsp;&nbsp;&nbsp;&nbsp; 191354 |
| &nbsp;&nbsp;&nbsp;General Dynamics Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 06/01/2031 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 222478 |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 06/01/2029 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 112030 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 05/15/2046 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 22174 |
| &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 04/15/2045 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 39325 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587361 |
| **Agriculture — 0.0%** | **Agriculture — 0.0%** | **Agriculture — 0.0%** |
| &nbsp;&nbsp;&nbsp;Altria Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80%, 02/14/2039 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 60638 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Agriculture (continued)** | **Agriculture (continued)** | **Agriculture (continued)** |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.39%, 08/15/2037 | $240000 | &nbsp;&nbsp;$214333 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274971 |
| **Airlines — 0.0%** | **Airlines — 0.0%** | **Airlines — 0.0%** |
| &nbsp;&nbsp;&nbsp;American Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 08/15/2033 | &nbsp;&nbsp; 105663 | &nbsp;&nbsp;&nbsp;&nbsp; 96965 |
| &nbsp;&nbsp;&nbsp;United Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 02/25/2033 | &nbsp;&nbsp; 75622 | &nbsp;&nbsp;&nbsp;&nbsp; 72121 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169086 |
| **Auto Manufacturers — 0.3%** | **Auto Manufacturers — 0.3%** | **Auto Manufacturers — 0.3%** |
| &nbsp;&nbsp;&nbsp;American Honda Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 03/12/2027 | &nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp; 246533 |
| &nbsp;&nbsp;&nbsp;Daimler Truck Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 04/07/2027\* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp;&nbsp;&nbsp; 162528 |
| &nbsp;&nbsp;&nbsp;Ford Motor Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.29%, 12/08/2046 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 163247 |
| &nbsp;&nbsp;&nbsp;General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.40%, 04/10/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 283087 |
| &nbsp;&nbsp;&nbsp;Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.30%, 01/08/2026\* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 78782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.80%, 10/15/2025\* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 06/15/2028\* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 241154 |
| &nbsp;&nbsp;&nbsp;Mercedes-Benz Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 03/30/2026\* | &nbsp;&nbsp; 165000 | &nbsp;&nbsp;&nbsp;&nbsp; 165296 |
| &nbsp;&nbsp;&nbsp;PACCAR Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10%, 05/11/2026 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 170546 |
| &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 01/05/2026 | &nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 260360 |
| &nbsp;&nbsp;&nbsp;Volkswagen Group of America Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 08/15/2029\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200305 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021526 |
| **Auto Parts & Equipment — 0.0%** | **Auto Parts & Equipment — 0.0%** | **Auto Parts & Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp;Magna International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 03/21/2033 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp; 183643 |
| **Banks — 1.1%** | **Banks — 1.1%** | **Banks — 1.1%** |
| &nbsp;&nbsp;&nbsp;Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.49%, 05/28/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 189504 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 07/21/2032 | &nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 191755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.59%, 04/29/2031 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 137119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 03/11/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 179237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.68%, 06/19/2041 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 71303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 04/19/2026 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 74487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.33%, 03/15/2050 | &nbsp;&nbsp; 380000 | &nbsp;&nbsp;&nbsp;&nbsp; 314724 |
| &nbsp;&nbsp;&nbsp;Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.28%, 11/24/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194026 |
| &nbsp;&nbsp;&nbsp;BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 09/10/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203544 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.89%, 01/10/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 07/23/2048 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 21573 |
| &nbsp;&nbsp;&nbsp;Danske Bank A/S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.71%, 03/01/2030\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206976 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.34%, 07/27/2029 | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 42039 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 02/07/2030 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 138567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 03/15/2030 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 121617 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.41%, 04/23/2039 | $275000 | &nbsp;&nbsp;$247859 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.72%, 03/04/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 208099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.40%, 11/13/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 223548 |
| &nbsp;&nbsp;&nbsp;ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.11%, 09/11/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 212395 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.58%, 04/22/2027 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 73386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.52%, 04/22/2031 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 137055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.78%, 02/01/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 01/23/2049 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 78401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.58%, 07/23/2036 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 121555 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.54%, 07/20/2027 | &nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 213548 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 07/27/2026 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.62%, 04/01/2031 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 143676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.66%, 04/18/2030 | &nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 264239 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Private Bank, N.A. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.73%, 07/18/2031 | &nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 261172 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.37%, 07/21/2036 | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 45466 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 11/03/2031 | &nbsp;&nbsp; 385000 | &nbsp;&nbsp;&nbsp;&nbsp; 337124 |
| &nbsp;&nbsp;&nbsp;Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.49%, 01/06/2028 | &nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 130822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.34%, 05/31/2035 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 136676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 03/09/2029 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 72878 |
| &nbsp;&nbsp;&nbsp;Santander UK Group Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.67%, 06/14/2027 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 292072 |
| &nbsp;&nbsp;&nbsp;Skandinaviska Enskilda Banken AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 03/05/2027\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 253076 |
| &nbsp;&nbsp;&nbsp;Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.07%, 01/19/2035\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 206600 |
| &nbsp;&nbsp;&nbsp;Standard Chartered PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.61%, 01/12/2028\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 194288 |
| &nbsp;&nbsp;&nbsp;State Street Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.16%, 05/18/2034 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp; 162956 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.46%, 01/13/2026 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200716 |
| &nbsp;&nbsp;&nbsp;Svenska Handelsbanken AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.42%, 06/11/2027\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 243253 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.99%, 04/05/2029 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 132376 |
| &nbsp;&nbsp;&nbsp;Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.95%, 06/05/2030 | &nbsp;&nbsp; 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 84301 |
| &nbsp;&nbsp;&nbsp;UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.36%, 01/30/2027\* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 255729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.18%, 02/11/2043\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 147119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.19%, 04/01/2031\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 244373 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.39%, 06/02/2028 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 168488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.07%, 04/30/2041 | &nbsp;&nbsp; 510000 | &nbsp;&nbsp;&nbsp;&nbsp; 384621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.58%, 05/22/2028 | &nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 83582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.71%, 04/22/2028 | &nbsp;&nbsp; 165000 | &nbsp;&nbsp;&nbsp;&nbsp; 168218 |
| &nbsp;&nbsp;&nbsp;Westpac New Zealand, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 02/28/2029\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 204309 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8717097 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 06/01/2030 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 144241 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Beverages (continued)** | **Beverages (continued)** | **Beverages (continued)** |
| &nbsp;&nbsp;&nbsp;Coca-Cola Europacific Partners PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 01/15/2027\* | $200000 | &nbsp;&nbsp;$191530 |
| &nbsp;&nbsp;&nbsp;JDE Peet's NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38%, 01/15/2027\* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 247227 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582998 |
| **Biotechnology — 0.1%** | **Biotechnology — 0.1%** | **Biotechnology — 0.1%** |
| &nbsp;&nbsp;&nbsp;Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 08/19/2026 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 220633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 03/02/2028 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 147658 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368291 |
| **Building Materials — 0.1%** | **Building Materials — 0.1%** | **Building Materials — 0.1%** |
| &nbsp;&nbsp;&nbsp;CRH America Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 01/09/2035 | &nbsp;&nbsp; 320000 | &nbsp;&nbsp;&nbsp;&nbsp; 327094 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.40%, 07/15/2031 | &nbsp;&nbsp; 340000 | &nbsp;&nbsp;&nbsp;&nbsp; 298712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 12/15/2047 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 40353 |
| &nbsp;&nbsp;&nbsp;Owens Corning |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 06/15/2034 | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 93439 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;759598 |
| **Chemicals — 0.1%** | **Chemicals — 0.1%** | **Chemicals — 0.1%** |
| &nbsp;&nbsp;&nbsp;Ecolab, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 08/18/2055 | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 141264 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 09/01/2031 | &nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 256667 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397931 |
| **Commercial Services — 0.1%** | **Commercial Services — 0.1%** | **Commercial Services — 0.1%** |
| &nbsp;&nbsp;&nbsp;Experian Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 03/08/2030\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 185598 |
| &nbsp;&nbsp;&nbsp;Georgetown University |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.32%, 04/01/2049 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 41375 |
| &nbsp;&nbsp;&nbsp;Leland Stanford Junior University |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.29%, 06/01/2027 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 66560 |
| &nbsp;&nbsp;&nbsp;RELX Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 05/22/2030 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 46975 |
| &nbsp;&nbsp;&nbsp;Transurban Finance Co. Pty., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 03/16/2031\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 88688 |
| &nbsp;&nbsp;&nbsp;University of Southern California |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 10/01/2051 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 256694 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685890 |
| **Computers — 0.0%** | **Computers — 0.0%** | **Computers — 0.0%** |
| &nbsp;&nbsp;&nbsp;Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.70%, 08/05/2031 | &nbsp;&nbsp; 215000 | &nbsp;&nbsp;&nbsp;&nbsp; 185997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 02/23/2026 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 09/12/2047 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 39236 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324668 |
| **Diversified Financial Services — 0.2%** | **Diversified Financial Services — 0.2%** | **Diversified Financial Services — 0.2%** |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC/AerCap Global Aviation Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 10/29/2026 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 146025 |
| &nbsp;&nbsp;&nbsp;Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20%, 11/02/2028 | &nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp; 226137 |
| &nbsp;&nbsp;&nbsp;American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 02/13/2026 | &nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp;&nbsp; 290376 |
| &nbsp;&nbsp;&nbsp;Avolon Holdings Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 05/04/2028\* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp;&nbsp;&nbsp; 109294 |
| &nbsp;&nbsp;&nbsp;Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.36%, 07/29/2032 | &nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp; 161795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.05%, 02/01/2035 | &nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 67718 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| &nbsp;&nbsp;&nbsp;Enact Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 05/28/2029 | $35000 | &nbsp;&nbsp;$36162 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 06/15/2031 | &nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 139427 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1176934 |
| **Electric — 0.3%** | **Electric — 0.3%** | **Electric — 0.3%** |
| &nbsp;&nbsp;&nbsp;AEP Texas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.45%, 01/15/2050 | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 61099 |
| &nbsp;&nbsp;&nbsp;AEP Transmission Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 08/15/2051 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 106496 |
| &nbsp;&nbsp;&nbsp;Alabama Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 07/15/2051 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 165772 |
| &nbsp;&nbsp;&nbsp;Ameren Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 12/01/2026 | &nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp; 248313 |
| &nbsp;&nbsp;&nbsp;American Electric Power Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 01/15/2029 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 117516 |
| &nbsp;&nbsp;&nbsp;Appalachian Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40%, 05/15/2044 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 41062 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 07/15/2048 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 18679 |
| &nbsp;&nbsp;&nbsp;Commonwealth Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.35%, 11/15/2045 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 21116 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 07/01/2027 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 25226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 03/01/2029 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 228928 |
| &nbsp;&nbsp;&nbsp;Duke Energy Carolinas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.45%, 04/15/2051 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 210316 |
| &nbsp;&nbsp;&nbsp;Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 09/01/2026 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 48983 |
| &nbsp;&nbsp;&nbsp;Enel Finance International NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13%, 07/12/2028\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 186468 |
| &nbsp;&nbsp;&nbsp;Engie SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 04/10/2034\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 205732 |
| &nbsp;&nbsp;&nbsp;Exelon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 04/15/2026 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 123903 |
| &nbsp;&nbsp;&nbsp;FirstEnergy Transmission LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/15/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98870 |
| &nbsp;&nbsp;&nbsp;Florida Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 06/01/2048 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 20120 |
| &nbsp;&nbsp;&nbsp;Metropolitan Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 01/15/2029\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 98661 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 09/01/2025 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 60037 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10%, 11/15/2048 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 39459 |
| &nbsp;&nbsp;&nbsp;Pacific Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10%, 08/01/2027 | &nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 52225 |
| &nbsp;&nbsp;&nbsp;San Diego Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10%, 06/15/2049 | &nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 43241 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 06/01/2029 | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 90825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 12/01/2053 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 187058 |
| &nbsp;&nbsp;&nbsp;Southern Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40%, 07/01/2046 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 20763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 03/15/2034 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 130117 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2650985 |
| **Electronics — 0.0%** | **Electronics — 0.0%** | **Electronics — 0.0%** |
| &nbsp;&nbsp;&nbsp;Amphenol Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 03/30/2026 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 25035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 04/05/2029 | &nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 81848 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Electronics (continued)** | **Electronics (continued)** | **Electronics (continued)** |
| &nbsp;&nbsp;&nbsp;Honeywell International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10%, 03/01/2027 | $250000 | &nbsp;&nbsp;$237795 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344678 |
| **Environmental Control — 0.1%** | **Environmental Control — 0.1%** | **Environmental Control — 0.1%** |
| &nbsp;&nbsp;&nbsp;Republic Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 03/15/2033 | &nbsp;&nbsp; 315000 | &nbsp;&nbsp;&nbsp;&nbsp; 268607 |
| &nbsp;&nbsp;&nbsp;Waste Connections, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20%, 01/15/2032 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 125248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 06/01/2032 | &nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 123075 |
| &nbsp;&nbsp;&nbsp;Waste Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 02/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201979 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;718909 |
| **Food — 0.0%** | **Food — 0.0%** | **Food — 0.0%** |
| &nbsp;&nbsp;&nbsp;Mondelez International Holdings Netherlands BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 09/15/2025\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199880 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 09/28/2048 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 22353 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222233 |
| **Gas — 0.1%** | **Gas — 0.1%** | **Gas — 0.1%** |
| &nbsp;&nbsp;&nbsp;Boston Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.84%, 01/10/2035\* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 26017 |
| &nbsp;&nbsp;&nbsp;NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.70%, 02/15/2031 | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 76734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 03/30/2048 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 88012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.35%, 04/01/2034 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 152325 |
| &nbsp;&nbsp;&nbsp;Southern California Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 06/01/2048 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 19468 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362556 |
| **Healthcare-Products — 0.1%** | **Healthcare-Products — 0.1%** | **Healthcare-Products — 0.1%** |
| &nbsp;&nbsp;&nbsp;Alcon Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 05/27/2030\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 183468 |
| &nbsp;&nbsp;&nbsp;Baxter International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.92%, 02/01/2027 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 216562 |
| &nbsp;&nbsp;&nbsp;Revvity, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.90%, 09/15/2028 | &nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 193476 |
| &nbsp;&nbsp;&nbsp;Solventum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 03/01/2029 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 154326 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 10/15/2041 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 107736 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855568 |
| **Healthcare-Services — 0.2%** | **Healthcare-Services — 0.2%** | **Healthcare-Services — 0.2%** |
| &nbsp;&nbsp;&nbsp;Banner Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.90%, 01/01/2031 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 43725 |
| &nbsp;&nbsp;&nbsp;Centra Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 01/01/2048 | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 36008 |
| &nbsp;&nbsp;&nbsp;Cigna Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 10/15/2047 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 37157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 07/15/2046 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 21600 |
| &nbsp;&nbsp;&nbsp;CommonSpirit Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.78%, 10/01/2030 | &nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 50150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.91%, 10/01/2050 | &nbsp;&nbsp; 305000 | &nbsp;&nbsp;&nbsp;&nbsp; 222903 |
| &nbsp;&nbsp;&nbsp;Elevance Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 03/01/2048 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 93939 |
| &nbsp;&nbsp;&nbsp;HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 06/15/2029 | &nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 63712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 03/15/2042 | &nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 54160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 09/15/2034 | &nbsp;&nbsp; 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 95385 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Healthcare-Services (continued)** | **Healthcare-Services (continued)** | **Healthcare-Services (continued)** |
| &nbsp;&nbsp;&nbsp;Health Care Service Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 06/15/2034\* | $90000 | &nbsp;&nbsp;$90886 |
| &nbsp;&nbsp;&nbsp;Humana, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 04/15/2031 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 71403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 03/15/2034 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 129761 |
| &nbsp;&nbsp;&nbsp;Icon Investments Six DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 05/08/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207405 |
| &nbsp;&nbsp;&nbsp;MedStar Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 08/15/2049 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 91670 |
| &nbsp;&nbsp;&nbsp;Stanford Health Care |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 11/15/2048 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 7604 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 05/15/2030 | &nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 31162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 05/15/2050 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 92009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 11/15/2041 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 22112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 07/15/2045 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 65422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 04/15/2054 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp; 165417 |
| &nbsp;&nbsp;&nbsp;West Virginia United Health System Obligated Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92%, 06/01/2048 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 42303 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1735893 |
| **Insurance — 0.3%** | **Insurance — 0.3%** | **Insurance — 0.3%** |
| &nbsp;&nbsp;&nbsp;Aflac, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 01/15/2049 | &nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 47454 |
| &nbsp;&nbsp;&nbsp;Arthur J. Gallagher & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 12/15/2029 | &nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 35310 |
| &nbsp;&nbsp;&nbsp;Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.86%, 08/27/2026\* | &nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp;&nbsp; 265924 |
| &nbsp;&nbsp;&nbsp;Brighthouse Financial Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.55%, 05/24/2026\* | &nbsp;&nbsp; 105000 | &nbsp;&nbsp;&nbsp;&nbsp; 102346 |
| &nbsp;&nbsp;&nbsp;Chubb INA Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.85%, 12/15/2051 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 190597 |
| &nbsp;&nbsp;&nbsp;CNO Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 01/06/2029\* | &nbsp;&nbsp; 315000 | &nbsp;&nbsp;&nbsp;&nbsp; 293956 |
| &nbsp;&nbsp;&nbsp;Fidelity National Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 08/15/2028 | &nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 54706 |
| &nbsp;&nbsp;&nbsp;Jackson National Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 01/13/2027\* | &nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp;&nbsp; 266068 |
| &nbsp;&nbsp;&nbsp;Liberty Mutual Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 06/15/2049\* | &nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 59850 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 11/15/2030 | &nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 31260 |
| &nbsp;&nbsp;&nbsp;MassMutual Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 04/09/2027\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 252936 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13%, 06/15/2030 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 111718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 05/15/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 24301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 11/15/2046 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 20710 |
| &nbsp;&nbsp;&nbsp;RGA Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 05/24/2029\* | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 149039 |
| &nbsp;&nbsp;&nbsp;Teachers Insurance & Annuity Association of America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.27%, 05/15/2047\* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 20210 |
| &nbsp;&nbsp;&nbsp;Willis North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 09/15/2028 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50073 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1976458 |
| **Internet — 0.1%** | **Internet — 0.1%** | **Internet — 0.1%** |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 12/05/2044 | &nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 62578 |
| &nbsp;&nbsp;&nbsp;Expedia Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/15/2026 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 115035 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| &nbsp;&nbsp;&nbsp;Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 01/15/2030 | $220000 | &nbsp;&nbsp;$218092 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395705 |
| **Lodging — 0.0%** | **Lodging — 0.0%** | **Lodging — 0.0%** |
| &nbsp;&nbsp;&nbsp;Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 12/01/2028 | &nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 255808 |
| **Machinery-Construction & Mining — 0.0%** | **Machinery-Construction & Mining — 0.0%** | **Machinery-Construction & Mining — 0.0%** |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 05/14/2027 | &nbsp;&nbsp; 295000 | &nbsp;&nbsp;&nbsp;&nbsp; 298851 |
| **Machinery-Diversified — 0.1%** | **Machinery-Diversified — 0.1%** | **Machinery-Diversified — 0.1%** |
| &nbsp;&nbsp;&nbsp;John Deere Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40%, 09/08/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198864 |
| &nbsp;&nbsp;&nbsp;Rockwell Automation, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 08/15/2031 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 257301 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456165 |
| **Media — 0.1%** | **Media — 0.1%** | **Media — 0.1%** |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC/Charter Communications Operating Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 04/01/2051 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 109742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 02/15/2028 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 122184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10%, 06/01/2029 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 62589 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.95%, 01/15/2031 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 61118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 02/01/2030 | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 27771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 03/01/2038 | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 206647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 05/15/2064 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 55276 |
| &nbsp;&nbsp;&nbsp;Cox Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 10/01/2050\* | &nbsp;&nbsp; 295000 | &nbsp;&nbsp;&nbsp;&nbsp; 166813 |
| &nbsp;&nbsp;&nbsp;Walt Disney Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 09/01/2049 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 187486 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999626 |
| **Mining — 0.1%** | **Mining — 0.1%** | **Mining — 0.1%** |
| &nbsp;&nbsp;&nbsp;Anglo American Capital PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.63%, 09/10/2030\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 180450 |
| &nbsp;&nbsp;&nbsp;Corp. Nacional del Cobre de Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 01/14/2030\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 186166 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366616 |
| **Miscellaneous Manufacturing — 0.0%** | **Miscellaneous Manufacturing — 0.0%** | **Miscellaneous Manufacturing — 0.0%** |
| &nbsp;&nbsp;&nbsp;3M Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 08/26/2049 | &nbsp;&nbsp; 105000 | &nbsp;&nbsp;&nbsp;&nbsp; 71298 |
| **Oil & Gas — 0.1%** | **Oil & Gas — 0.1%** | **Oil & Gas — 0.1%** |
| &nbsp;&nbsp;&nbsp;BP Capital Markets PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.28%, 09/19/2027 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.28%, 09/19/2027 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 24495 |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 07/15/2030 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 64263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 03/15/2038 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 25819 |
| &nbsp;&nbsp;&nbsp;Coterra Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 03/15/2029 | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 88931 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 01/30/2030 | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 45818 |
| &nbsp;&nbsp;&nbsp;HF Sinclair Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 01/15/2035 | &nbsp;&nbsp; 205000 | &nbsp;&nbsp;&nbsp;&nbsp; 208582 |
| &nbsp;&nbsp;&nbsp;Pioneer Natural Resources Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13%, 01/15/2026 | &nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 54140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 03/29/2026 | &nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 55205 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| &nbsp;&nbsp;&nbsp;TotalEnergies Capital International SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.99%, 06/29/2041 | $105000 | &nbsp;&nbsp;$77458 |
| &nbsp;&nbsp;&nbsp;Woodside Finance, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 03/15/2028\* | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 24346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 03/04/2029\* | &nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 54256 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;772327 |
| **Pharmaceuticals — 0.2%** | **Pharmaceuticals — 0.2%** | **Pharmaceuticals — 0.2%** |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 11/21/2049 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 89724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 05/14/2045 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 111621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 03/15/2029 | &nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 233647 |
| &nbsp;&nbsp;&nbsp;Astrazeneca Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 05/28/2028 | &nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 205971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 03/03/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203263 |
| &nbsp;&nbsp;&nbsp;Becton Dickinson & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.08%, 06/07/2029 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 254679 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 10/26/2049 | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 72150 |
| &nbsp;&nbsp;&nbsp;Cardinal Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 09/15/2025 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 124868 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 03/25/2048 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 86044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 06/01/2029 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 71853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.88%, 06/01/2053 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 189629 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1643449 |
| **Pipelines — 0.2%** | **Pipelines — 0.2%** | **Pipelines — 0.2%** |
| &nbsp;&nbsp;&nbsp;Boardwalk Pipelines LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 02/15/2031 | &nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 50808 |
| &nbsp;&nbsp;&nbsp;Cameron LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 07/15/2031\* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 18093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 01/15/2039\* | &nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 12579 |
| &nbsp;&nbsp;&nbsp;Enbridge Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 10/15/2045 | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 51908 |
| &nbsp;&nbsp;&nbsp;Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 12/01/2046 | &nbsp;&nbsp; 113000 | &nbsp;&nbsp;&nbsp;&nbsp; 107358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 04/05/2034 | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 92099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.70%, 11/15/2053 | &nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 37781 |
| &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 01/11/2027 | &nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp;&nbsp; 265860 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.95%, 01/15/2038 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 55035 |
| &nbsp;&nbsp;&nbsp;MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65%, 03/01/2053 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 136944 |
| &nbsp;&nbsp;&nbsp;ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 09/01/2053 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp; 186161 |
| &nbsp;&nbsp;&nbsp;Plains All American Pipeline LP/PAA Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 12/15/2026 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 24979 |
| &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 05/15/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 24877 |
| &nbsp;&nbsp;&nbsp;South Bow USA Infrastructure Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.03%, 10/01/2029\* | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 39965 |
| &nbsp;&nbsp;&nbsp;Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 02/15/2035 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 69959 |
| &nbsp;&nbsp;&nbsp;Targa Resources Partners LP/Targa Resources Partners Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/15/2028 | &nbsp;&nbsp; 109000 | &nbsp;&nbsp;&nbsp;&nbsp; 108858 |
| &nbsp;&nbsp;&nbsp;Transcontinental Gas Pipe Line Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 03/15/2048 | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 16727 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| &nbsp;&nbsp;&nbsp;Williams Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 03/15/2029 | $210000 | &nbsp;&nbsp;$212339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 03/15/2034 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 24903 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1537233 |
| **Real Estate — 0.0%** | **Real Estate — 0.0%** | **Real Estate — 0.0%** |
| &nbsp;&nbsp;&nbsp;CBRE Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 04/01/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51502 |
| **REITS — 0.3%** | **REITS — 0.3%** | **REITS — 0.3%** |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 02/01/2050 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 81801 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.45%, 09/15/2026 | &nbsp;&nbsp; 315000 | &nbsp;&nbsp;&nbsp;&nbsp; 304250 |
| &nbsp;&nbsp;&nbsp;Brixmor Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.05%, 07/01/2030 | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 43593 |
| &nbsp;&nbsp;&nbsp;Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 03/15/2027 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 68060 |
| &nbsp;&nbsp;&nbsp;Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10%, 04/01/2031 | &nbsp;&nbsp; 165000 | &nbsp;&nbsp;&nbsp;&nbsp; 141989 |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 03/01/2029 | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 88270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 03/15/2048 | &nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 12586 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 06/15/2029 | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 39230 |
| &nbsp;&nbsp;&nbsp;Healthcare Realty Holdings LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 01/15/2028 | &nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 53395 |
| &nbsp;&nbsp;&nbsp;Healthpeak OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13%, 12/01/2028 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 69430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 01/15/2031 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 113525 |
| &nbsp;&nbsp;&nbsp;NNN REIT, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 10/15/2048 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 42752 |
| &nbsp;&nbsp;&nbsp;Prologis LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13%, 04/15/2027 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 110913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 09/15/2028 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 69286 |
| &nbsp;&nbsp;&nbsp;Public Storage Operating Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.95%, 11/09/2028 | &nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 125355 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20%, 06/15/2028 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 23548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 12/15/2029 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 66185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 08/15/2027 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 24812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 11/01/2025 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 59970 |
| &nbsp;&nbsp;&nbsp;Regency Centers LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 01/15/2034 | &nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp; 248669 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 02/01/2032 | &nbsp;&nbsp; 285000 | &nbsp;&nbsp;&nbsp;&nbsp; 251337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 07/15/2050 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 74367 |
| &nbsp;&nbsp;&nbsp;Welltower OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 07/01/2035 | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 238166 |
| &nbsp;&nbsp;&nbsp;WP Carey, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.85%, 07/15/2029 | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 87478 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2438967 |
| **Retail — 0.2%** | **Retail — 0.2%** | **Retail — 0.2%** |
| &nbsp;&nbsp;&nbsp;AutoZone, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.65%, 01/15/2031 | &nbsp;&nbsp; 105000 | &nbsp;&nbsp;&nbsp;&nbsp; 89590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 04/21/2026 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 07/15/2026 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp; 180958 |
| &nbsp;&nbsp;&nbsp;Carvana Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.00%, 12/01/2028\*(3) | &nbsp;&nbsp; 37469 | &nbsp;&nbsp;&nbsp;&nbsp; 38329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.00%, 06/01/2030\*(3) | &nbsp;&nbsp; 65427 | &nbsp;&nbsp;&nbsp;&nbsp; 68435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.00%, 06/01/2031\*(3) | &nbsp;&nbsp; 84035 | &nbsp;&nbsp;&nbsp;&nbsp; 99932 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| &nbsp;&nbsp;&nbsp;Dollar General Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 11/01/2027 | $240000 | &nbsp;&nbsp;$240670 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 04/15/2033 | &nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp;&nbsp; 292133 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 09/01/2027 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 24579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 06/01/2029 | &nbsp;&nbsp; 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 92878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 08/19/2034 | &nbsp;&nbsp; 195000 | &nbsp;&nbsp;&nbsp;&nbsp; 193243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 11/20/2026 | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 45660 |
| &nbsp;&nbsp;&nbsp;Ross Stores, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.88%, 04/15/2031 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 51405 |
| &nbsp;&nbsp;&nbsp;Tractor Supply Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 05/15/2033 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 253844 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1721093 |
| **Semiconductors — 0.1%** | **Semiconductors — 0.1%** | **Semiconductors — 0.1%** |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 07/15/2030 | &nbsp;&nbsp; 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 95036 |
| &nbsp;&nbsp;&nbsp;Foundry JV Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.15%, 01/25/2032\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 209235 |
| &nbsp;&nbsp;&nbsp;Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 03/25/2040 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 214293 |
| &nbsp;&nbsp;&nbsp;NXP BV/NXP Funding LLC/NXP USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 05/01/2027 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 9767 |
| &nbsp;&nbsp;&nbsp;Texas Instruments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 05/04/2030 | &nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 31154 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559485 |
| **Software — 0.2%** | **Software — 0.2%** | **Software — 0.2%** |
| &nbsp;&nbsp;&nbsp;Atlassian Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 05/15/2029 | &nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 56146 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 09/10/2029 | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 89713 |
| &nbsp;&nbsp;&nbsp;Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 07/01/2026 | &nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 34579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 03/15/2034 | &nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp; 248696 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 11/03/2025 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 24916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 11/03/2035 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 245999 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 02/06/2053 | &nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 60052 |
| &nbsp;&nbsp;&nbsp;Roper Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.40%, 09/15/2027 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp; 150476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 06/30/2030 | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 26581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 12/15/2026 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 24771 |
| &nbsp;&nbsp;&nbsp;Salesforce, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.70%, 07/15/2041 | &nbsp;&nbsp; 395000 | &nbsp;&nbsp;&nbsp;&nbsp; 282604 |
| &nbsp;&nbsp;&nbsp;VMware LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.40%, 08/15/2026 | &nbsp;&nbsp; 205000 | &nbsp;&nbsp;&nbsp;&nbsp; 198607 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1443140 |
| **Telecommunications — 0.2%** | **Telecommunications — 0.2%** | **Telecommunications — 0.2%** |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 02/01/2032 | &nbsp;&nbsp; 280000 | &nbsp;&nbsp;&nbsp;&nbsp; 240301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 06/01/2041 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 101664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 12/01/2057 | &nbsp;&nbsp; 64000 | &nbsp;&nbsp;&nbsp;&nbsp; 44459 |
| &nbsp;&nbsp;&nbsp;Bell Telephone Co. of Canada or Bell Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 05/11/2033 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 249816 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 04/15/2029 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 71000 |
| &nbsp;&nbsp;&nbsp;NTT Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 07/16/2030\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201132 |
| &nbsp;&nbsp;&nbsp;Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 02/15/2034 | &nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 255246 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| &nbsp;&nbsp;&nbsp;Telefonica Emisiones SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.21%, 03/08/2047 | $150000 | &nbsp;&nbsp;$132770 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.68%, 10/30/2030 | &nbsp;&nbsp; 113000 | &nbsp;&nbsp;&nbsp;&nbsp; 97838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 11/20/2040 | &nbsp;&nbsp; 490000 | &nbsp;&nbsp;&nbsp;&nbsp; 343560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.99%, 10/30/2056 | &nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 20989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 03/22/2030 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 141513 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900288 |
| **Transportation — 0.1%** | **Transportation — 0.1%** | **Transportation — 0.1%** |
| &nbsp;&nbsp;&nbsp;Burlington Northern Santa Fe LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 08/01/2046 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 237126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 04/01/2045 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 20662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 12/15/2048 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 20253 |
| &nbsp;&nbsp;&nbsp;Canadian National Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 11/01/2033 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp; 193184 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 12/02/2026 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 96468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 11/15/2029 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 65472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 05/01/2050 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 78092 |
| &nbsp;&nbsp;&nbsp;CSX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 03/01/2048 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 20626 |
| &nbsp;&nbsp;&nbsp;FedEx Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 08/01/2042\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 151524 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883407 |
| **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** |
| &nbsp;&nbsp;&nbsp;GATX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.05%, 03/15/2034 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 79113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.90%, 05/01/2034 | &nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 243354 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322467 |
| **Total Corporate Bonds & Notes<br> (cost $44,630,102)** |  | &nbsp;&nbsp;&nbsp;&nbsp;41234701 |
| **ASSET BACKED SECURITIES — 0.6%** | **ASSET BACKED SECURITIES — 0.6%** | **ASSET BACKED SECURITIES — 0.6%** |
| **Auto Loan Receivables — 0.2%** | **Auto Loan Receivables — 0.2%** | **Auto Loan Receivables — 0.2%** |
| &nbsp;&nbsp;&nbsp;Avis Budget Rental Car Funding AESOP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-1A, Class B<br> 2.68%, 08/20/2026\* | &nbsp;&nbsp; 16667 | &nbsp;&nbsp;&nbsp;&nbsp; 16643 |
| &nbsp;&nbsp;&nbsp;Bayview Opportunity Master Fund LLC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CAR1, Class A<br> 5.45%, (SOFR30A+1.10%), 12/26/2031\* | &nbsp;&nbsp; 128634 | &nbsp;&nbsp;&nbsp;&nbsp; 129004 |
| &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-3, Class B<br> 5.47%, 02/15/2029 | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 40626 |
| &nbsp;&nbsp;&nbsp;Carvana Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-P4, Class C<br> 2.33%, 02/10/2028 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 139041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-P4, Class A3<br> 4.64%, 01/10/2030 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-P4, Class A4<br> 4.74%, 12/10/2030 | &nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 85517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-N1, Class B<br> 5.63%, 05/10/2030\* | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 20186 |
| &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-4, Class A2<br> 4.69%, 07/20/2027\* | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-4, Class A4<br> 4.70%, 06/20/2031\* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 60400 |
| &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2, Class C<br> 1.74%, 04/15/2033\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99301 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Auto Loan Receivables (continued)** | **Auto Loan Receivables (continued)** | **Auto Loan Receivables (continued)** |
| &nbsp;&nbsp;&nbsp;Huntington Bank Auto Credit-Linked Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1, Class B<br> 4.96%, 03/21/2033\* | $216810 | &nbsp;&nbsp;$216855 |
| &nbsp;&nbsp;&nbsp;Porsche Financial Auto Securitization Trust 2024-1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A4<br> 4.49%, 12/22/2032\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100244 |
| &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-3, Class C<br> 4.49%, 08/15/2029 | &nbsp;&nbsp; 156817 | &nbsp;&nbsp;&nbsp;&nbsp; 156625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1, Class A3<br> 4.74%, 01/16/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100174 |
| &nbsp;&nbsp;&nbsp;Toyota Lease Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-A, Class A4<br> 4.81%, 06/20/2029\* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 90667 |
| &nbsp;&nbsp;&nbsp;Wheels Fleet Lease Funding 1 LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2A, Class A1<br> 4.41%, 05/18/2040\* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 174713 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1530114 |
| **Other Asset Backed Securities — 0.4%** | **Other Asset Backed Securities — 0.4%** | **Other Asset Backed Securities — 0.4%** |
| &nbsp;&nbsp;&nbsp;Affirm Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2A, Class A<br> 4.67%, 07/15/2033\* | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 224949 |
| &nbsp;&nbsp;&nbsp;AGL CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-13A, Class A1R<br> 5.41%, (TSFR3M+1.10%), 10/20/2034\* | &nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp; 310000 |
| &nbsp;&nbsp;&nbsp;Clarus Capital Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class A2<br> 4.71%, 08/20/2032\* | &nbsp;&nbsp; 167049 | &nbsp;&nbsp;&nbsp;&nbsp; 166933 |
| &nbsp;&nbsp;&nbsp;CyrusOne Data Centers Issuer I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2A, Class A2<br> 4.50%, 05/20/2049\* | &nbsp;&nbsp; 215000 | &nbsp;&nbsp;&nbsp;&nbsp; 208924 |
| &nbsp;&nbsp;&nbsp;Dell Equipment Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2, Class A3<br> 4.59%, 08/22/2030\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100284 |
| &nbsp;&nbsp;&nbsp;Driven Brands Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1A, Class A2<br> 2.79%, 10/20/2051\* | &nbsp;&nbsp; 112691 | &nbsp;&nbsp;&nbsp;&nbsp; 105003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2A, Class A2<br> 3.24%, 01/20/2051\* | &nbsp;&nbsp; 88519 | &nbsp;&nbsp;&nbsp;&nbsp; 84614 |
| &nbsp;&nbsp;&nbsp;Elara HGV Timeshare Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-A, Class A<br> 6.16%, 02/25/2038\* | &nbsp;&nbsp; 55437 | &nbsp;&nbsp;&nbsp;&nbsp; 56859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-A, Class B<br> 6.53%, 02/25/2038\* | &nbsp;&nbsp; 55437 | &nbsp;&nbsp;&nbsp;&nbsp; 56680 |
| &nbsp;&nbsp;&nbsp;Elmwood CLO 20, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-7A, Class AR<br> 5.82%, (TSFR3M+1.50%), 01/17/2037\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 250680 |
| &nbsp;&nbsp;&nbsp;Ford Credit Floorplan Master Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2, Class B<br> 1.32%, 09/15/2027 | &nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 54318 |
| &nbsp;&nbsp;&nbsp;Highbridge Loan Management, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 5A-2015, Class A1R3<br> 5.38%, (TSFR3M+1.06%), 10/15/2030\* | &nbsp;&nbsp; 105482 | &nbsp;&nbsp;&nbsp;&nbsp; 105556 |
| &nbsp;&nbsp;&nbsp;MVW LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1WA, Class B<br> 1.44%, 01/22/2041\* | &nbsp;&nbsp; 19691 | &nbsp;&nbsp;&nbsp;&nbsp; 18784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-2A, Class A<br> 2.22%, 10/20/2038\* | &nbsp;&nbsp; 39320 | &nbsp;&nbsp;&nbsp;&nbsp; 38752 |
| &nbsp;&nbsp;&nbsp;Nelnet Student Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-CA, Class AFX<br> 1.32%, 04/20/2062\* | &nbsp;&nbsp; 88670 | &nbsp;&nbsp;&nbsp;&nbsp; 82754 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |
| **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;NMEF Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-A, Class A2<br> 4.72%, 07/15/2032\* | $100000 | &nbsp;&nbsp;$99966 |
| &nbsp;&nbsp;&nbsp;OCP CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-13A, Class AR2<br> 5.67%, (TSFR3M+1.34%), 11/26/2037\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 250987 |
| &nbsp;&nbsp;&nbsp;Octane Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RVM1, Class A<br> 5.01%, 01/22/2046\* | &nbsp;&nbsp; 78857 | &nbsp;&nbsp;&nbsp;&nbsp; 79307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1A, Class A<br> 5.87%, 05/21/2029\* | &nbsp;&nbsp; 10805 | &nbsp;&nbsp;&nbsp;&nbsp; 10824 |
| &nbsp;&nbsp;&nbsp;Palmer Square, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2A, Class AR1<br> 5.57%, (TSFR3M+1.25%), 02/15/2038\* | &nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 255328 |
| &nbsp;&nbsp;&nbsp;PEAC Solutions Receivables LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2<br> 4.94%, 10/20/2028\* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 175512 |
| &nbsp;&nbsp;&nbsp;Post Road Equipment Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2<br> 4.90%, 05/15/2031\* | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 150385 |
| &nbsp;&nbsp;&nbsp;Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SFR2, Class A<br> 3.31%, 04/17/2042\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 93681 |
| &nbsp;&nbsp;&nbsp;SEB Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 7.39%, 04/30/2054\* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 122136 |
| &nbsp;&nbsp;&nbsp;ServiceMaster Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1, Class A2I<br> 2.87%, 07/30/2051\* | &nbsp;&nbsp; 108846 | &nbsp;&nbsp;&nbsp;&nbsp; 99762 |
| &nbsp;&nbsp;&nbsp;Sierra Timeshare Receivables Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2A, Class A<br> 4.72%, 04/20/2044\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100201 |
| &nbsp;&nbsp;&nbsp;SMB Private Education Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-A, Class APT1<br> 1.07%, 01/15/2053\* | &nbsp;&nbsp; 63228 | &nbsp;&nbsp;&nbsp;&nbsp; 57217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-A, Class A2A<br> 2.23%, 09/15/2037\* | &nbsp;&nbsp; 32504 | &nbsp;&nbsp;&nbsp;&nbsp; 31260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-A, Class A2A<br> 2.88%, 09/15/2034\* | &nbsp;&nbsp; 1017 | &nbsp;&nbsp;&nbsp;&nbsp; 1016 |
| &nbsp;&nbsp;&nbsp;Tricon Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-SFR4, Class A<br> 4.30%, 11/17/2041\* | &nbsp;&nbsp; 99629 | &nbsp;&nbsp;&nbsp;&nbsp; 97673 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3490345 |
| **Total Asset Backed Securities<br> (cost $5,034,898)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5020459 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 0.9%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 0.9%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 0.9%** |
| **Commercial and Residential — 0.6%** | **Commercial and Residential — 0.6%** | **Commercial and Residential — 0.6%** |
| &nbsp;&nbsp;&nbsp;Angel Oak Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1, Class A1<br> 0.91%, 01/25/2066\*(4) | &nbsp;&nbsp; 37850 | &nbsp;&nbsp;&nbsp;&nbsp; 32615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2, Class A1<br> 0.99%, 04/25/2066\*(4) | &nbsp;&nbsp; 47136 | &nbsp;&nbsp;&nbsp;&nbsp; 40113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1, Class A2<br> 1.12%, 01/25/2066\*(4) | &nbsp;&nbsp; 12263 | &nbsp;&nbsp;&nbsp;&nbsp; 10605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-6, Class M1<br> 2.81%, 05/25/2065\*(4) | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 56597 |
| &nbsp;&nbsp;&nbsp;BANK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-5YR10, Class A3<br> 5.30%, 10/15/2057 | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 45904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-5YR10, Class AS<br> 5.64%, 10/15/2057 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 25427 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Commercial and Residential (continued)** | **Commercial and Residential (continued)** | **Commercial and Residential (continued)** |
| &nbsp;&nbsp;&nbsp;BANK5 VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-5YR12, Class A3<br> 5.90%, 12/15/2057(4) | $60000 | &nbsp;&nbsp;$62614 |
| &nbsp;&nbsp;&nbsp;Barclays Mtg. Loan Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class A3<br> 2.19%, 09/25/2051\*(4) | &nbsp;&nbsp; 57079 | &nbsp;&nbsp;&nbsp;&nbsp; 50896 |
| &nbsp;&nbsp;&nbsp;BBCMS Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-5C27, Class A3<br> 6.01%, 07/15/2057 | &nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 36538 |
| &nbsp;&nbsp;&nbsp;BBCMS Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-C35, Class A5<br> 5.59%, 07/15/2058(4) | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 41400 |
| &nbsp;&nbsp;&nbsp;Benchmark Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-V16, Class A3<br> 5.44%, 08/15/2057 | &nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 36001 |
| &nbsp;&nbsp;&nbsp;Benchmark Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-V8, Class A3<br> 6.19%, 07/15/2057(4) | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 125945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-V8, Class AM<br> 6.63%, 07/15/2057(4) | &nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp;&nbsp; 305436 |
| &nbsp;&nbsp;&nbsp;BIG Commercial Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-BIG, Class A<br> 5.68%, (TSFR1M+1.34%), 02/15/2039\* | &nbsp;&nbsp; 232743 | &nbsp;&nbsp;&nbsp;&nbsp; 232162 |
| &nbsp;&nbsp;&nbsp;BX Commercial Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-MDHS, Class A<br> 5.98%, (TSFR1M+1.64%), 05/15/2041\* | &nbsp;&nbsp; 212916 | &nbsp;&nbsp;&nbsp;&nbsp; 213449 |
| &nbsp;&nbsp;&nbsp;BX Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-ROIC, Class A<br> 5.49%, (TSFR1M+1.14%), 03/15/2030\* | &nbsp;&nbsp; 298834 | &nbsp;&nbsp;&nbsp;&nbsp; 298274 |
| &nbsp;&nbsp;&nbsp;Chase Home Lending Mtg. TrusT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RPL4, Class A1B<br> 3.38%, 12/25/2064\*(4) | &nbsp;&nbsp; 23421 | &nbsp;&nbsp;&nbsp;&nbsp; 20504 |
| &nbsp;&nbsp;&nbsp;CIM Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-INV3, Class A15<br> 3.50%, 08/25/2049\*(4) | &nbsp;&nbsp; 13787 | &nbsp;&nbsp;&nbsp;&nbsp; 12440 |
| &nbsp;&nbsp;&nbsp;Citigroup Mtg. Loan Trust, Inc. VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-EXP2, Class A3<br> 2.50%, 08/25/2050\*(4) | &nbsp;&nbsp; 35408 | &nbsp;&nbsp;&nbsp;&nbsp; 30360 |
| &nbsp;&nbsp;&nbsp;COLT Mtg. Loan Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-3, Class A1<br> 1.51%, 04/27/2065\*(4) | &nbsp;&nbsp; 2679 | &nbsp;&nbsp;&nbsp;&nbsp; 2629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-3, Class A1<br> 3.90%, 02/25/2067\*(4) | &nbsp;&nbsp; 110567 | &nbsp;&nbsp;&nbsp;&nbsp; 107456 |
| &nbsp;&nbsp;&nbsp;Connecticut Avenue Securities Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-R04, Class 1A1<br> 5.35%, (SOFR30A+1.00%), 05/25/2044\* | &nbsp;&nbsp; 46483 | &nbsp;&nbsp;&nbsp;&nbsp; 46497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-R05, Class 2M1<br> 5.52%, (SOFR30A+1.20%), 07/25/2045\* | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 175109 |
| &nbsp;&nbsp;&nbsp;EFMT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV1, Class A1<br> 5.63%, 03/25/2070\*(5) | &nbsp;&nbsp; 94423 | &nbsp;&nbsp;&nbsp;&nbsp; 94547 |
| &nbsp;&nbsp;&nbsp;Ellington Financial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2, Class A1<br> 0.93%, 06/25/2066\*(4) | &nbsp;&nbsp; 48590 | &nbsp;&nbsp;&nbsp;&nbsp; 40314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2, Class A1<br> 1.18%, 10/25/2065\*(4) | &nbsp;&nbsp; 42402 | &nbsp;&nbsp;&nbsp;&nbsp; 39620 |
| &nbsp;&nbsp;&nbsp;GCAT Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM4, Class A1<br> 5.53%, 06/25/2070\*(5) | &nbsp;&nbsp; 185000 | &nbsp;&nbsp;&nbsp;&nbsp; 184982 |
| &nbsp;&nbsp;&nbsp;GS Mtg. Securities Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-INV1, Class A14<br> 2.91%, 10/25/2050\*(4) | &nbsp;&nbsp; 26820 | &nbsp;&nbsp;&nbsp;&nbsp; 22559 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** |
| **Commercial and Residential (continued)** | **Commercial and Residential (continued)** | **Commercial and Residential (continued)** |
| &nbsp;&nbsp;&nbsp;Hudson Yards Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SPRL, Class A<br> 5.47%, 01/13/2040\*(4) | $125000 | &nbsp;&nbsp;$128143 |
| &nbsp;&nbsp;&nbsp;J.P. Morgan Chase Commercial Mtg. Securities Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-NINE, Class A<br> 2.85%, 09/06/2038\*(4) | &nbsp;&nbsp; 128000 | &nbsp;&nbsp;&nbsp;&nbsp; 125012 |
| &nbsp;&nbsp;&nbsp;JP Morgan Mtg. Trust Series VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM3, Class A1<br> 5.50%, 11/25/2065\*(4) | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 119778 |
| &nbsp;&nbsp;&nbsp;JPMorgan Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-INV1, Class A11<br> 5.30%, (TSFR1M+0.94%), 08/25/2050\* | &nbsp;&nbsp; 4128 | &nbsp;&nbsp;&nbsp;&nbsp; 3895 |
| &nbsp;&nbsp;&nbsp;JPMorgan Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-INV2, Class A3<br> 3.50%, 02/25/2050\*(4) | &nbsp;&nbsp; 3055 | &nbsp;&nbsp;&nbsp;&nbsp; 2755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-INV3, Class A15<br> 3.50%, 05/25/2050\*(4) | &nbsp;&nbsp; 7891 | &nbsp;&nbsp;&nbsp;&nbsp; 7062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-INV3, Class A3<br> 3.50%, 05/25/2050\*(4) | &nbsp;&nbsp; 8608 | &nbsp;&nbsp;&nbsp;&nbsp; 7704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-INV1, Class A3<br> 3.50%, 08/25/2050\*(4) | &nbsp;&nbsp; 15685 | &nbsp;&nbsp;&nbsp;&nbsp; 13996 |
| &nbsp;&nbsp;&nbsp;MARQ Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-HOU, Class A<br> 5.93%, (TSFR1M+1.59%), 06/15/2039\* | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99844 |
| &nbsp;&nbsp;&nbsp;MHC Commercial Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-MHC, Class B<br> 5.56%, (TSFR1M+1.21%), 04/15/2038\* | &nbsp;&nbsp; 164000 | &nbsp;&nbsp;&nbsp;&nbsp; 164307 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Residential Mtg. Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-DSC2, Class A1<br> 5.44%, 07/25/2070\*(5) | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99920 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Residential Mtg. Loan Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2, Class A9<br> 2.50%, 05/25/2051\*(4) | &nbsp;&nbsp; 66454 | &nbsp;&nbsp;&nbsp;&nbsp; 53246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM5, Class A1<br> 5.44%, 07/25/2070\*(4) | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99994 |
| &nbsp;&nbsp;&nbsp;New Residential Mtg. Loan Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-INV1, Class A4<br> 3.00%, 03/25/2052\*(4) | &nbsp;&nbsp; 119981 | &nbsp;&nbsp;&nbsp;&nbsp; 100282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM4, Class A1<br> 5.35%, 07/25/2065\*(4) | &nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 229629 |
| &nbsp;&nbsp;&nbsp;NXPT Commercial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-STOR, Class A<br> 4.31%, 11/05/2041\*(4) | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 68525 |
| &nbsp;&nbsp;&nbsp;OBX Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-EXP3, Class 2A2<br> 5.57%, (TSFR1M+1.21%), 10/25/2059\* | &nbsp;&nbsp; 3802 | &nbsp;&nbsp;&nbsp;&nbsp; 3815 |
| &nbsp;&nbsp;&nbsp;PENN Commercial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-P11, Class A<br> 5.52%, 08/10/2042\*(4) | &nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp; 190542 |
| &nbsp;&nbsp;&nbsp;Provident Funding Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-1, Class B1<br> 3.17%, 12/25/2049\*(4) | &nbsp;&nbsp; 154911 | &nbsp;&nbsp;&nbsp;&nbsp; 132026 |
| &nbsp;&nbsp;&nbsp;Sequoia Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-CH3, Class A2<br> 4.00%, 08/25/2048\*(4) | &nbsp;&nbsp; 383 | &nbsp;&nbsp;&nbsp;&nbsp; 377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-HYB1, Class A1A<br> 4.45%, 11/25/2063\*(4) | &nbsp;&nbsp; 91562 | &nbsp;&nbsp;&nbsp;&nbsp; 91165 |
| &nbsp;&nbsp;&nbsp;Starwood Mtg. Residential Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-INV1, Class A1<br> 1.03%, 11/25/2055\*(4) | &nbsp;&nbsp; 11631 | &nbsp;&nbsp;&nbsp;&nbsp; 10965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-INV1, Class A3<br> 2.92%, 09/27/2049\*(4) | &nbsp;&nbsp; 24827 | &nbsp;&nbsp;&nbsp;&nbsp; 24469 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Commercial and Residential (continued)** | **Commercial and Residential (continued)** | **Commercial and Residential (continued)** |
| &nbsp;&nbsp;&nbsp;Towd Point Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2, Class A1B<br> 4.80%, 12/25/2064\*(4) | $269110 | &nbsp;&nbsp;$269164 |
| &nbsp;&nbsp;&nbsp;Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-INV1, Class A2<br> 6.32%, 03/25/2069\*(5) | &nbsp;&nbsp; 109215 | &nbsp;&nbsp;&nbsp;&nbsp; 109712 |
| &nbsp;&nbsp;&nbsp;WB Commercial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-HQ, Class A<br> 5.94%, 03/15/2040\*(4) | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 200396 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4747716 |
| **U.S. Government Agency — 0.3%** | **U.S. Government Agency — 0.3%** | **U.S. Government Agency — 0.3%** |
| &nbsp;&nbsp;&nbsp;Connecticut Avenue Securities Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-R04, Class 1M1<br> 6.65%, (SOFR30A+2.30%), 05/25/2043\* | &nbsp;&nbsp; 140543 | &nbsp;&nbsp;&nbsp;&nbsp; 143353 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. Multifamily Structured Pass Through Certs. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K-753, Class A2<br> 4.40%, 10/25/2030 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 550673 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. Multifamily Structured Pass Through Certs. VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K137, Class A2<br> 2.35%, 11/25/2031(4) | &nbsp;&nbsp; 940000 | &nbsp;&nbsp;&nbsp;&nbsp; 832126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K-150, Class A2<br> 3.71%, 09/25/2032(4) | &nbsp;&nbsp; 405000 | &nbsp;&nbsp;&nbsp;&nbsp; 384788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K-156, Class A2<br> 4.43%, 02/25/2033(4) | &nbsp;&nbsp; 315000 | &nbsp;&nbsp;&nbsp;&nbsp; 312251 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. Structured Agency Credit Risk REMIC Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-DNA7, Class M1<br> 5.20%, (SOFR30A+0.85%), 11/25/2041\* | &nbsp;&nbsp; 35232 | &nbsp;&nbsp;&nbsp;&nbsp; 35189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-HQA1, Class A1<br> 5.30%, (SOFR30A+0.95%), 02/25/2045\* | &nbsp;&nbsp; 38750 | &nbsp;&nbsp;&nbsp;&nbsp; 38724 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2297104 |
| **Total Collateralized Mortgage Obligations<br> (cost $7,108,741)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7044820 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 10.0%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 10.0%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 10.0%** |
| **U.S. Government — 10.0%** | **U.S. Government — 10.0%** | **U.S. Government — 10.0%** |
| &nbsp;&nbsp;&nbsp;United States Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13%, 05/15/2040 to 08/15/2040 | &nbsp;&nbsp; 1644600 | &nbsp;&nbsp;&nbsp;&nbsp; 1013895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.25%, 05/15/2050 | &nbsp;&nbsp; 278400 | &nbsp;&nbsp;&nbsp;&nbsp; 131968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38%, 11/15/2040 to 08/15/2050 | &nbsp;&nbsp; 1938000 | &nbsp;&nbsp;&nbsp;&nbsp; 1022374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.63%, 11/15/2050 | &nbsp;&nbsp; 340000 | &nbsp;&nbsp;&nbsp;&nbsp; 176548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 08/15/2041 | &nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp; 378624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.88%, 02/15/2041 to 11/15/2051 | &nbsp;&nbsp; 7025000 | &nbsp;&nbsp;&nbsp;&nbsp; 4475792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 11/15/2041 to 08/15/2051 | &nbsp;&nbsp; 3206000 | &nbsp;&nbsp;&nbsp;&nbsp; 1882171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 05/15/2041 to 02/15/2052 | &nbsp;&nbsp; 1957000 | &nbsp;&nbsp;&nbsp;&nbsp; 1228546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 02/15/2042 to 05/15/2051 | &nbsp;&nbsp; 1271000 | &nbsp;&nbsp;&nbsp;&nbsp; 821972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 02/15/2045 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 118250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 08/15/2047 | &nbsp;&nbsp; 380000 | &nbsp;&nbsp;&nbsp;&nbsp; 267573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 05/15/2043 to 05/15/2052 | &nbsp;&nbsp; 1315000 | &nbsp;&nbsp;&nbsp;&nbsp; 936733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 11/15/2044 to 08/15/2052 | &nbsp;&nbsp; 1420000 | &nbsp;&nbsp;&nbsp;&nbsp; 1041771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 11/15/2041 to 05/15/2048 | &nbsp;&nbsp; 630000 | &nbsp;&nbsp;&nbsp;&nbsp; 497203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 05/15/2042 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 286467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 08/15/2042 to 11/15/2048 | &nbsp;&nbsp; 652500 | &nbsp;&nbsp;&nbsp;&nbsp; 534916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 02/15/2053 to 05/15/2053 | &nbsp;&nbsp; 2981500 | &nbsp;&nbsp;&nbsp;&nbsp; 2396872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 08/15/2040 to 05/15/2043 | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp;&nbsp;&nbsp; 2316349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/15/2042 to 11/15/2052 | &nbsp;&nbsp; 2450400 | &nbsp;&nbsp;&nbsp;&nbsp; 2179943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 08/15/2044 to 08/15/2053 | &nbsp;&nbsp; 822200 | &nbsp;&nbsp;&nbsp;&nbsp; 734817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 02/15/2054 to 08/15/2054 | &nbsp;&nbsp; 695000 | &nbsp;&nbsp;&nbsp;&nbsp; 624937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 08/15/2043 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 235654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 02/15/2044 to 11/15/2054 | &nbsp;&nbsp; 2210000 | &nbsp;&nbsp;&nbsp;&nbsp; 2097466 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** |
| **U.S. Government (continued)** | **U.S. Government (continued)** | **U.S. Government (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 05/15/2044 to 02/15/2055 | $1775000 | &nbsp;&nbsp;$1712454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 11/15/2043 to 05/15/2055 | &nbsp;&nbsp; 1370000 | &nbsp;&nbsp;&nbsp;&nbsp; 1340286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 05/15/2045 | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp; 10147 |
| &nbsp;&nbsp;&nbsp;United States Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.63%, 05/15/2030 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 149823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75%, 08/31/2026 | &nbsp;&nbsp; 2735000 | &nbsp;&nbsp;&nbsp;&nbsp; 2637138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.25%, 08/15/2031 | &nbsp;&nbsp; 1375000 | &nbsp;&nbsp;&nbsp;&nbsp; 1169233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.88%, 02/28/2027 | &nbsp;&nbsp; 2570000 | &nbsp;&nbsp;&nbsp;&nbsp; 2486475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 07/31/2027 to 08/15/2032 | &nbsp;&nbsp; 1460000 | &nbsp;&nbsp;&nbsp;&nbsp; 1346818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 05/15/2032 | &nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 425985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 05/15/2033 | &nbsp;&nbsp; 560000 | &nbsp;&nbsp;&nbsp;&nbsp; 529134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 02/15/2033 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 109924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 05/31/2028 to 08/31/2029 | &nbsp;&nbsp; 7645000 | &nbsp;&nbsp;&nbsp;&nbsp; 7583660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 03/31/2027 to 08/15/2034 | &nbsp;&nbsp; 2535000 | &nbsp;&nbsp;&nbsp;&nbsp; 2519578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 02/29/2028 to 02/15/2034 | &nbsp;&nbsp; 7345000 | &nbsp;&nbsp;&nbsp;&nbsp; 7356907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 06/30/2028(6)(7) | &nbsp;&nbsp; 3835000 | &nbsp;&nbsp;&nbsp;&nbsp; 3847434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 02/28/2027 to 11/15/2032 | &nbsp;&nbsp; 8385000 | &nbsp;&nbsp;&nbsp;&nbsp; 8415365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 02/28/2029 to 11/15/2034 | &nbsp;&nbsp; 4890000 | &nbsp;&nbsp;&nbsp;&nbsp; 4925802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 11/30/2028 to 12/31/2029 | &nbsp;&nbsp; 2340000 | &nbsp;&nbsp;&nbsp;&nbsp; 2377394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 05/31/2029 | &nbsp;&nbsp; 1285000 | &nbsp;&nbsp;&nbsp;&nbsp; 1311353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 02/15/2035 | &nbsp;&nbsp; 1320000 | &nbsp;&nbsp;&nbsp;&nbsp; 1348669 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;77004420 |
| **U.S. Government Agency — 0.0%** | **U.S. Government Agency — 0.0%** | **U.S. Government Agency — 0.0%** |
| &nbsp;&nbsp;&nbsp;Government National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 01/20/2050 to 05/20/2050 | &nbsp;&nbsp; 11964 | &nbsp;&nbsp;&nbsp;&nbsp; 10293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 09/20/2049 to 02/20/2050 | &nbsp;&nbsp; 10125 | &nbsp;&nbsp;&nbsp;&nbsp; 9236 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19529 |
| **Total U.S. Government & Agency Obligations<br> (cost $85,388,886)** |  | &nbsp;&nbsp;&nbsp;&nbsp;77023949 |
| **FOREIGN GOVERNMENT OBLIGATIONS — 0.3%** | **FOREIGN GOVERNMENT OBLIGATIONS — 0.3%** | **FOREIGN GOVERNMENT OBLIGATIONS — 0.3%** |
| **Regional(State/Province) — 0.1%** | **Regional(State/Province) — 0.1%** | **Regional(State/Province) — 0.1%** |
| &nbsp;&nbsp;&nbsp;Province of Alberta Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 01/24/2034 | &nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp; 307922 |
| &nbsp;&nbsp;&nbsp;Province of British Columbia Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 07/06/2033 | &nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 224988 |
| &nbsp;&nbsp;&nbsp;Province of Manitoba Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 07/27/2033 | &nbsp;&nbsp; 235000 | &nbsp;&nbsp;&nbsp;&nbsp; 230650 |
| &nbsp;&nbsp;&nbsp;Province of New Brunswick, Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 02/24/2028 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 24698 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;788258 |
| **Sovereign — 0.2%** | **Sovereign — 0.2%** | **Sovereign — 0.2%** |
| &nbsp;&nbsp;&nbsp;Kingdom of Saudi Arabia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 01/13/2031\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207807 |
| &nbsp;&nbsp;&nbsp;Republic of Panama |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 01/19/2033 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 287875 |
| &nbsp;&nbsp;&nbsp;Republic of Peru |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 02/08/2035 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 59734 |
| &nbsp;&nbsp;&nbsp;Republic of Poland |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 03/18/2054 | &nbsp;&nbsp; 295000 | &nbsp;&nbsp;&nbsp;&nbsp; 275772 |
| &nbsp;&nbsp;&nbsp;United Mexican States |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.66%, 05/24/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 172264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 02/12/2034 | &nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 192625 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1196077 |
| **Total Foreign Government Obligations<br> (cost $2,101,700)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1984335 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **MUNICIPAL SECURITIES — 0.4%** | **MUNICIPAL SECURITIES — 0.4%** | **MUNICIPAL SECURITIES — 0.4%** |
| &nbsp;&nbsp;&nbsp;California State University<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 11/01/2041 | $350000 | &nbsp;&nbsp;$253936 |
| &nbsp;&nbsp;&nbsp;Central Texas Regional Mobility Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.17%, 01/01/2041 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 157202 |
| &nbsp;&nbsp;&nbsp;Central Texas Turnpike System<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.03%, 08/15/2041 | &nbsp;&nbsp; 105000 | &nbsp;&nbsp;&nbsp;&nbsp; 78998 |
| &nbsp;&nbsp;&nbsp;Chicago O'Hare International Airport<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.40%, 01/01/2040 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 54773 |
| &nbsp;&nbsp;&nbsp;City of Los Angeles Department of Airports<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.58%, 05/15/2039 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 241068 |
| &nbsp;&nbsp;&nbsp;City of Los Angeles Wastewater System<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.81%, 06/01/2040 | &nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp; 252035 |
| &nbsp;&nbsp;&nbsp;County of Cook, IL<br> General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.23%, 11/15/2034 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp; 168195 |
| &nbsp;&nbsp;&nbsp;County of Miami-Dade, FL Transit System<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.62%, 07/01/2040 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 25620 |
| &nbsp;&nbsp;&nbsp;County of Washoe NV<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.97%, 02/01/2040 | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 47127 |
| &nbsp;&nbsp;&nbsp;Dallas Fort Worth International Airport<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.84%, 11/01/2046 | &nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp; 221097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.99%, 11/01/2038 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 50949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.09%, 11/01/2040 | &nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 108471 |
| &nbsp;&nbsp;&nbsp;Denver City & County School District No 1<br> Certificate Participation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.24%, 12/15/2037 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 23390 |
| &nbsp;&nbsp;&nbsp;Florida Development Finance Corp.<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.11%, 04/01/2050 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 114942 |
| &nbsp;&nbsp;&nbsp;Grand Parkway Transportation Corp.<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.24%, 10/01/2052 | &nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 54017 |
| &nbsp;&nbsp;&nbsp;Illinois Municipal Electric Agency<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.83%, 02/01/2035 | &nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp; 90059 |
| &nbsp;&nbsp;&nbsp;Los Angeles County Public Works Financing Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.49%, 08/01/2033 | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 49216 |
| &nbsp;&nbsp;&nbsp;Maryland Stadium Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.36%, 05/01/2035 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 137959 |
| &nbsp;&nbsp;&nbsp;Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.24%, 07/01/2052 | &nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp;&nbsp; 173836 |
| &nbsp;&nbsp;&nbsp;Metropolitan Water Reclamation District of Greater Chicago<br> General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.72%, 12/01/2038 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51352 |
| &nbsp;&nbsp;&nbsp;Municipal Electric Authority of Georgia<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.66%, 04/01/2057 | &nbsp;&nbsp; 44000 | &nbsp;&nbsp;&nbsp;&nbsp; 47146 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **MUNICIPAL SECURITIES (continued)** | **MUNICIPAL SECURITIES (continued)** |  |
| &nbsp;&nbsp;&nbsp;New York State Dormitory Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 07/01/2048 | $100000 | &nbsp;&nbsp;$88017 |
| &nbsp;&nbsp;&nbsp;Public Finance Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.41%, 07/01/2051 | &nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 156903 |
| &nbsp;&nbsp;&nbsp;Rutgers The State University of New Jersey<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.67%, 05/01/2040 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 50036 |
| &nbsp;&nbsp;&nbsp;San Francisco City & County Airport Commission-San Francisco International Airport<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35%, 05/01/2051 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 120236 |
| &nbsp;&nbsp;&nbsp;San Jose Redevelopment Agency Successor Agency<br> Tax Allocation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 08/01/2034 | &nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp; 4606 |
| &nbsp;&nbsp;&nbsp;State of California<br> General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.63%, 03/01/2040 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 59370 |
| &nbsp;&nbsp;&nbsp;Texas A&M University<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.33%, 05/15/2039 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 105808 |
| &nbsp;&nbsp;&nbsp;Texas Private Activity Bond Surface Transportation Corp.<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.92%, 12/31/2049 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 88692 |
| &nbsp;&nbsp;&nbsp;Virginia Commonwealth University Health System Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.96%, 01/01/2044 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 23125 |
| &nbsp;&nbsp;&nbsp;Western Minnesota Municipal Power Agency<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.16%, 01/01/2039 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 83250 |
| **Total Municipal Securities<br> (cost $4,071,062)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3181431 |
| **ESCROWS AND LITIGATION TRUSTS — 0.0%** | **ESCROWS AND LITIGATION TRUSTS — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;GCI Liberty, Inc. †(1)<br> (cost $0) | &nbsp;&nbsp; 936 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Total Long-Term Investment Securities<br> (cost $608,545,763)** |  | &nbsp;&nbsp;&nbsp;&nbsp;751850572 |
| **SHORT-TERM INVESTMENTS — 2.7%** | **SHORT-TERM INVESTMENTS — 2.7%** |  |
| **Unaffiliated Investment Companies — 2.7%** | **Unaffiliated Investment Companies — 2.7%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(8) | &nbsp;&nbsp;20788891 | &nbsp;&nbsp;&nbsp;&nbsp; 20788891 |
| &nbsp;&nbsp;&nbsp;T. Rowe Price Treasury Reserve Fund<br> 4.38%(8) | &nbsp;&nbsp; 119 | &nbsp;&nbsp;&nbsp;&nbsp; 119 |
| **Total Short-Term Investments<br> (cost $20,789,011)** |  | &nbsp;&nbsp;&nbsp;&nbsp;20789010 |
| **TOTAL INVESTMENTS<br> (cost $629,334,774)(9)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;&nbsp;&nbsp;772639582 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23201 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$772662783 |

---

---

| | |
|:---|:---|
| ^ | &nbsp;&nbsp;Prior to April 28, 2025, the Portfolio was known as SA T. Rowe Price Asset Allocation Growth Portfolio. |
| † | &nbsp;&nbsp;Non-income producing security |
| \* | &nbsp;&nbsp;Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The SA T. Rowe Price Allocation Moderately Aggressive Portfolio has no right to demand registration of these securities. At July 31, 2025, the aggregate value of these securities was $19,716,395 representing 2.6% of net assets. |

---

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

(2) Denotes a restricted security that: (a) cannot be offered for public sale without first being registered, or being able to take advantage of an exemption from
registration, under the Securities Act of 1933, as amended (the "1933 Act"); (b) is subject to a contractual restriction on public sales; or (c) is otherwise subject to a restriction on sales by operation
of applicable law. Restricted securities are valued pursuant to Note 2. Certain restricted securities held by the Portfolio may not be sold except in exempt transactions or in a public offering registered
under the 1933 Act. The Portfolio has no right to demand registration of these securities. The risk of investing in certain restricted securities is greater than the risk of investing in the securities of widely held,
publicly traded companies. To the extent applicable, lack of a secondary market and resale restrictions may result in the inability of a Portfolio to sell a security at a fair price and may substantially delay the
sale of the security. In addition, certain restricted securities may exhibit greater price volatility than securities for which secondary markets exist. As of July 31, 2025, the Portfolio held the following restricted
securities:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition<br> Date** | **Shares or<br> Principal<br> Amount** | **Acquisition<br> Cost** | **Value** | **Value<br> Per Share** | **% of<br> Net Assets** |
| **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** |
| Canva, Inc. |  |  |  |  |  |  |
|  | 08/16/2021 | &nbsp;&nbsp;&nbsp;&nbsp;11 | $18746 |  |  |  |
|  | 11/04/2021 | &nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;37505 |  |  |  |
|  | 12/17/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;15337 |  |  |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;71588 | $57754 | $0.00 | 0.0% |
| Definity Financial Corp. | 05/28/2025 | 1002 | &nbsp;&nbsp;48271 | &nbsp;&nbsp;&nbsp;&nbsp;51284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51.18 | 0.0 |
| Gusto, Inc. | 10/04/2021 | &nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;22311 | &nbsp;&nbsp;&nbsp;&nbsp;19763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.50 | 0.0 |
| **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** |
| Canva, Inc.<br> Series A | 11/04/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;3410 | &nbsp;&nbsp;&nbsp;&nbsp;2750 | &nbsp;&nbsp;1375.09 | 0.0 |
| Databricks, Inc.<br> Series G | 02/01/2021 | &nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;17737 | &nbsp;&nbsp;&nbsp;&nbsp;31109 | &nbsp;&nbsp;&nbsp;&nbsp;103.70 | 0.0 |
| Databricks, Inc.<br> Series H | 08/31/2021 | &nbsp;&nbsp;&nbsp;858 | &nbsp;&nbsp;63049 | &nbsp;&nbsp;&nbsp;&nbsp;88970 | &nbsp;&nbsp;&nbsp;&nbsp;103.70 | 0.0 |
| Gusto, Inc.<br> Series E | 07/13/2021 | 1028 | &nbsp;&nbsp;31246 | &nbsp;&nbsp;&nbsp;&nbsp;26214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.50 | 0.0 |
|  |  |  |  | $277844 |  | 0.0%\*\* |

---

\*\* Amount represents the total value of the restricted securities divided by the net assets of the Portfolio and may not equal the sum of the individual percentages shown due to rounding.

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

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

(5) "Step-up" security where the rate increases ("steps-up") at a predetermined rate. The rate reflected is as of July 31, 2025.

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

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

(8) The rate shown is the 7-day yield as of July 31, 2025.

(9) See Note 4 for cost of investments on a tax basis.

---

| |
|:---|
| ADR—American Depositary Receipt |
| ASX—Australian Stock Exchange |
| CLO—Collateralized Loan Obligation |
| CVA—Certification Van Aandelen (Dutch Cert.) |
| CVR—Contingent Value Rights |
| DAC—Designated Activity Company |
| FRS—Floating Rate Security |
| LSE—London Stock Exchange |
| NASDAQ—National Association of Securities Dealers Automated Quotations |
| REMIC—Real Estate Mortgage Investment Conduit |
| SDR—Swedish Depositary Receipt |
| SOFR30A—US 30 Day Average Secured Overnight Financing Rate |
| TSFR1M—Term Secured Overnight Financing Rate 1 Month |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

TSFR3M—Term Secured Overnight Financing Rate 3 Month <br> VRS—Variable Rate Security <br> XAMS—Euronext Amsterdam Stock Exchange

The rates shown on FRS and/or VRS are the current interest rates at July 31, 2025 and unless noted otherwise, the dates shown are the original maturity dates.

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** |
| **Counterparty (OTC)/<br> Centrally cleared** | **Reference<br> obligation** | &nbsp;&nbsp;**Implied<br> credit<br> spread(2)** | **Notional<br> amount(3)** | **Currency** | **USD<br> notional<br> amount(3)** | **Received<br> fixed<br> rate** | **Fixed<br> payment<br> frequency** | **Maturity<br> date** | **Upfront<br> payment paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value(4)** |
| Centrally Cleared | CDX Investment Grade Index Series 43 | &nbsp;&nbsp;0.455% | 4075000 | USD | &nbsp;&nbsp;&nbsp;4075000 | 1.000% | Quarterly | Dec 2029 | $78202 | $11252 | $89454 |
| Centrally Cleared | CDX Investment Grade Index Series 44 | &nbsp;&nbsp;0.512 | 2500000 | USD | &nbsp;&nbsp;&nbsp;2500000 | 1.000 | Quarterly | Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp; 55240 | &nbsp;&nbsp;&nbsp;&nbsp;(1181) | &nbsp;&nbsp;&nbsp;&nbsp; 54059 |
|  |  |  |  |  | 1575000 |  |  |  | $133442 | $10071 | $143513 |

---

(1) If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of
protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the
swap less the recovery value of the referenced obligation.

(2) Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues, credit indices or sovereign
issues of an emerging country as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit
spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration
of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as
"Defaulted" indicates a credit event has occurred for the referenced entity or obligation.

(3) The maximum potential amount the Portfolio could be required to make as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined
under the terms of that particular swap agreement.

(4) The quoted market prices and resulting values for credit default swap agreements on asset-backed securities and credit indices serve as an indicator of the current
status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement have been closed/sold as of the
period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of
default or other credit event occurring as defined under the terms of the agreement.

#### Futures Contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number<br> of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Expiration<br> Month** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Basis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Value\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation** |
| 52 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury 5 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$5614520 | &nbsp;&nbsp;&nbsp;&nbsp;$5624938 | &nbsp;&nbsp;&nbsp;&nbsp;$10418 |
| 2 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury Long Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 228375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1640 |
| 5 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra 10 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 565915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 565391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 524 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$12582 |

---

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

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price Allocation Moderately Aggressive Portfolio^

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;$6226688 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$6226688 |
| &nbsp;&nbsp;&nbsp;Commercial Services | &nbsp;&nbsp;&nbsp;&nbsp;11615027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;19763 | &nbsp;&nbsp;&nbsp;&nbsp;11634790 |
| &nbsp;&nbsp;&nbsp;Computer Graphics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;57754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57754 |
| &nbsp;&nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;32702755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;32754039 |
| &nbsp;&nbsp;&nbsp;Lodging | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2521463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2521463 |
| &nbsp;&nbsp;&nbsp;Other Industries | &nbsp;&nbsp;&nbsp;&nbsp;563017100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;563017100 |
| Convertible Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;149043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149043 |
| Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;41234701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;41234701 |
| Asset Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5020459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5020459 |
| Collateralized Mortgage Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7044820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7044820 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;77023949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;77023949 |
| Foreign Government Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1984335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1984335 |
| Municipal Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3181431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3181431 |
| Escrows and Litigation Trusts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;20789010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;20789010 |
| **Total Investments at Value** | &nbsp;&nbsp;$636872043 | &nbsp;&nbsp;$135540979 | &nbsp;&nbsp;$226560 | &nbsp;&nbsp;$772639582 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Swaps | &nbsp;&nbsp;$— | &nbsp;&nbsp;$11252 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$11252 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12582 |
| **Total Other Financial Instruments** | &nbsp;&nbsp;$12582 | &nbsp;&nbsp;$11252 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$23834 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Swaps | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1181 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1181 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | &nbsp;&nbsp;Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

Level 3 investments in securities were not considered a significant portion of the Portfolio's net assets.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS — 58.7%** | **COMMON STOCKS — 58.7%** | **COMMON STOCKS — 58.7%** |
| **Advertising — 0.0%** | **Advertising — 0.0%** | **Advertising — 0.0%** |
| &nbsp;&nbsp;&nbsp;WPP PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67852 | &nbsp;&nbsp;$367396 |
| **Aerospace/Defense — 1.4%** | **Aerospace/Defense — 1.4%** | **Aerospace/Defense — 1.4%** |
| &nbsp;&nbsp;&nbsp;Boeing Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3356 | &nbsp;&nbsp;&nbsp;&nbsp; 744495 |
| &nbsp;&nbsp;&nbsp;General Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23265 | &nbsp;&nbsp;&nbsp;&nbsp; 6306676 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1874 | &nbsp;&nbsp;&nbsp;&nbsp; 336889 |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6312 | &nbsp;&nbsp;&nbsp;&nbsp; 1734664 |
| &nbsp;&nbsp;&nbsp;Melrose Industries PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267936 | &nbsp;&nbsp;&nbsp;&nbsp; 1812418 |
| &nbsp;&nbsp;&nbsp;Northrop Grumman Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3324 | &nbsp;&nbsp;&nbsp;&nbsp; 1916652 |
| &nbsp;&nbsp;&nbsp;Rheinmetall AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662 | &nbsp;&nbsp;&nbsp;&nbsp; 1311125 |
| &nbsp;&nbsp;&nbsp;RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1445 | &nbsp;&nbsp;&nbsp;&nbsp; 227689 |
| &nbsp;&nbsp;&nbsp;Safran SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9533 | &nbsp;&nbsp;&nbsp;&nbsp; 3149486 |
| &nbsp;&nbsp;&nbsp;Thales SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3112 | &nbsp;&nbsp;&nbsp;&nbsp; 837423 |
| &nbsp;&nbsp;&nbsp;TransDigm Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454 | &nbsp;&nbsp;&nbsp;&nbsp; 730241 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19107758 |
| **Agriculture — 0.1%** | **Agriculture — 0.1%** | **Agriculture — 0.1%** |
| &nbsp;&nbsp;&nbsp;Altria Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4843 | &nbsp;&nbsp;&nbsp;&nbsp; 299975 |
| &nbsp;&nbsp;&nbsp;Farmer's Business Network, Inc.†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5660 | &nbsp;&nbsp;&nbsp;&nbsp; 928523 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1228498 |
| **Airlines — 0.1%** | **Airlines — 0.1%** | **Airlines — 0.1%** |
| &nbsp;&nbsp;&nbsp;Ryanair Holdings PLC ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17820 | &nbsp;&nbsp;&nbsp;&nbsp; 1109651 |
| &nbsp;&nbsp;&nbsp;United Airlines Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1631 | &nbsp;&nbsp;&nbsp;&nbsp; 144034 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1253685 |
| **Apparel — 0.2%** | **Apparel — 0.2%** | **Apparel — 0.2%** |
| &nbsp;&nbsp;&nbsp;Asics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51100 | &nbsp;&nbsp;&nbsp;&nbsp; 1209050 |
| &nbsp;&nbsp;&nbsp;Kering SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4649 | &nbsp;&nbsp;&nbsp;&nbsp; 1148627 |
| &nbsp;&nbsp;&nbsp;NIKE, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2550 | &nbsp;&nbsp;&nbsp;&nbsp; 190459 |
| &nbsp;&nbsp;&nbsp;Samsonite Group SA\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261600 | &nbsp;&nbsp;&nbsp;&nbsp; 535197 |
| &nbsp;&nbsp;&nbsp;Tapestry, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722 | &nbsp;&nbsp;&nbsp;&nbsp; 77998 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3161331 |
| **Auto Manufacturers — 0.8%** | **Auto Manufacturers — 0.8%** | **Auto Manufacturers — 0.8%** |
| &nbsp;&nbsp;&nbsp;Cummins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;983 | &nbsp;&nbsp;&nbsp;&nbsp; 361370 |
| &nbsp;&nbsp;&nbsp;General Motors Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2533 | &nbsp;&nbsp;&nbsp;&nbsp; 135110 |
| &nbsp;&nbsp;&nbsp;Subaru Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45700 | &nbsp;&nbsp;&nbsp;&nbsp; 842329 |
| &nbsp;&nbsp;&nbsp;Suzuki Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96300 | &nbsp;&nbsp;&nbsp;&nbsp; 1064217 |
| &nbsp;&nbsp;&nbsp;Tesla, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20677 | &nbsp;&nbsp;&nbsp;&nbsp; 6374099 |
| &nbsp;&nbsp;&nbsp;Toyota Motor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146000 | &nbsp;&nbsp;&nbsp;&nbsp; 2610670 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11387795 |
| **Auto Parts & Equipment — 0.2%** | **Auto Parts & Equipment — 0.2%** | **Auto Parts & Equipment — 0.2%** |
| &nbsp;&nbsp;&nbsp;Autoliv, Inc. SDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13549 | &nbsp;&nbsp;&nbsp;&nbsp; 1508636 |
| &nbsp;&nbsp;&nbsp;Denso Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78500 | &nbsp;&nbsp;&nbsp;&nbsp; 1070265 |
| &nbsp;&nbsp;&nbsp;Dowlais Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324765 | &nbsp;&nbsp;&nbsp;&nbsp; 301517 |
| &nbsp;&nbsp;&nbsp;Magna International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp; 164000 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3044418 |
| **Banks — 4.3%** | **Banks — 4.3%** | **Banks — 4.3%** |
| &nbsp;&nbsp;&nbsp;ABN AMRO Bank NV CVA\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26146 | &nbsp;&nbsp;&nbsp;&nbsp; 756687 |
| &nbsp;&nbsp;&nbsp;ANZ Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64443 | &nbsp;&nbsp;&nbsp;&nbsp; 1272247 |
| &nbsp;&nbsp;&nbsp;Banco Santander SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251716 | &nbsp;&nbsp;&nbsp;&nbsp; 2164777 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82963 | &nbsp;&nbsp;&nbsp;&nbsp; 3921661 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3081 | &nbsp;&nbsp;&nbsp;&nbsp; 312567 |
| &nbsp;&nbsp;&nbsp;Barclays PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307002 | &nbsp;&nbsp;&nbsp;&nbsp; 1505407 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24279 | &nbsp;&nbsp;&nbsp;&nbsp; 2274942 |
| &nbsp;&nbsp;&nbsp;DBS Group Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52110 | &nbsp;&nbsp;&nbsp;&nbsp; 1922820 |
| &nbsp;&nbsp;&nbsp;DNB Bank ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93581 | &nbsp;&nbsp;&nbsp;&nbsp; 2374215 |
| &nbsp;&nbsp;&nbsp;Erste Group Bank AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12945 | &nbsp;&nbsp;&nbsp;&nbsp; 1189951 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4233 | &nbsp;&nbsp;&nbsp;&nbsp; 175966 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3282 | &nbsp;&nbsp;&nbsp;&nbsp; 2374822 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;HDFC Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66026 | &nbsp;&nbsp;$1521032 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12467 | &nbsp;&nbsp;&nbsp;&nbsp; 204833 |
| &nbsp;&nbsp;&nbsp;ING Groep NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92460 | &nbsp;&nbsp;&nbsp;&nbsp; 2162008 |
| &nbsp;&nbsp;&nbsp;Intesa Sanpaolo SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257377 | &nbsp;&nbsp;&nbsp;&nbsp; 1555239 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31616 | &nbsp;&nbsp;&nbsp;&nbsp; 9365924 |
| &nbsp;&nbsp;&nbsp;KeyCorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87129 | &nbsp;&nbsp;&nbsp;&nbsp; 1561352 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;1792306 | &nbsp;&nbsp;&nbsp;&nbsp; 1841533 |
| &nbsp;&nbsp;&nbsp;Macquarie Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10451 | &nbsp;&nbsp;&nbsp;&nbsp; 1459997 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201600 | &nbsp;&nbsp;&nbsp;&nbsp; 2821464 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8221 | &nbsp;&nbsp;&nbsp;&nbsp; 1171164 |
| &nbsp;&nbsp;&nbsp;National Bank of Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15162 | &nbsp;&nbsp;&nbsp;&nbsp; 1577150 |
| &nbsp;&nbsp;&nbsp;Popular, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791 | &nbsp;&nbsp;&nbsp;&nbsp; 90633 |
| &nbsp;&nbsp;&nbsp;Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87966 | &nbsp;&nbsp;&nbsp;&nbsp; 1540197 |
| &nbsp;&nbsp;&nbsp;Societe Generale SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33384 | &nbsp;&nbsp;&nbsp;&nbsp; 2131953 |
| &nbsp;&nbsp;&nbsp;Standard Chartered PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112996 | &nbsp;&nbsp;&nbsp;&nbsp; 2030249 |
| &nbsp;&nbsp;&nbsp;State Street Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1889 | &nbsp;&nbsp;&nbsp;&nbsp; 211096 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Trust Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40700 | &nbsp;&nbsp;&nbsp;&nbsp; 1073368 |
| &nbsp;&nbsp;&nbsp;Truist Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1169 | &nbsp;&nbsp;&nbsp;&nbsp; 51097 |
| &nbsp;&nbsp;&nbsp;UBS Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40578 | &nbsp;&nbsp;&nbsp;&nbsp; 1520707 |
| &nbsp;&nbsp;&nbsp;UniCredit SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36214 | &nbsp;&nbsp;&nbsp;&nbsp; 2670990 |
| &nbsp;&nbsp;&nbsp;United Overseas Bank, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50500 | &nbsp;&nbsp;&nbsp;&nbsp; 1407575 |
| &nbsp;&nbsp;&nbsp;US Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8619 | &nbsp;&nbsp;&nbsp;&nbsp; 387510 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4048 | &nbsp;&nbsp;&nbsp;&nbsp; 326390 |
| &nbsp;&nbsp;&nbsp;Western Alliance Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;951 | &nbsp;&nbsp;&nbsp;&nbsp; 73760 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59003283 |
| **Beverages — 0.3%** | **Beverages — 0.3%** | **Beverages — 0.3%** |
| &nbsp;&nbsp;&nbsp;Coca-Cola Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15123 | &nbsp;&nbsp;&nbsp;&nbsp; 1026700 |
| &nbsp;&nbsp;&nbsp;Diageo PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44604 | &nbsp;&nbsp;&nbsp;&nbsp; 1091533 |
| &nbsp;&nbsp;&nbsp;Heineken NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18154 | &nbsp;&nbsp;&nbsp;&nbsp; 1430739 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11711 | &nbsp;&nbsp;&nbsp;&nbsp; 382364 |
| &nbsp;&nbsp;&nbsp;Monster Beverage Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3140 | &nbsp;&nbsp;&nbsp;&nbsp; 184475 |
| &nbsp;&nbsp;&nbsp;PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3242 | &nbsp;&nbsp;&nbsp;&nbsp; 447137 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4562948 |
| **Biotechnology — 0.4%** | **Biotechnology — 0.4%** | **Biotechnology — 0.4%** |
| &nbsp;&nbsp;&nbsp;Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp;&nbsp; 126893 |
| &nbsp;&nbsp;&nbsp;Argenx SE ADR† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1955 | &nbsp;&nbsp;&nbsp;&nbsp; 1310495 |
| &nbsp;&nbsp;&nbsp;BeOneMedicines, Ltd. ADR† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471 | &nbsp;&nbsp;&nbsp;&nbsp; 141832 |
| &nbsp;&nbsp;&nbsp;Corteva, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3650 | &nbsp;&nbsp;&nbsp;&nbsp; 263275 |
| &nbsp;&nbsp;&nbsp;Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27275 | &nbsp;&nbsp;&nbsp;&nbsp; 3062710 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;557 | &nbsp;&nbsp;&nbsp;&nbsp; 303821 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1274 | &nbsp;&nbsp;&nbsp;&nbsp; 582052 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5791078 |
| **Building Materials — 0.3%** | **Building Materials — 0.3%** | **Building Materials — 0.3%** |
| &nbsp;&nbsp;&nbsp;Carrier Global Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3578 | &nbsp;&nbsp;&nbsp;&nbsp; 245522 |
| &nbsp;&nbsp;&nbsp;Heidelberg Materials AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829 | &nbsp;&nbsp;&nbsp;&nbsp; 191576 |
| &nbsp;&nbsp;&nbsp;Holcim AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13992 | &nbsp;&nbsp;&nbsp;&nbsp; 1119360 |
| &nbsp;&nbsp;&nbsp;Johnson Controls International PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1731 | &nbsp;&nbsp;&nbsp;&nbsp; 181755 |
| &nbsp;&nbsp;&nbsp;Kingspan Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7470 | &nbsp;&nbsp;&nbsp;&nbsp; 619324 |
| &nbsp;&nbsp;&nbsp;Knife River Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782 | &nbsp;&nbsp;&nbsp;&nbsp; 64499 |
| &nbsp;&nbsp;&nbsp;Louisiana-Pacific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1026 | &nbsp;&nbsp;&nbsp;&nbsp; 92761 |
| &nbsp;&nbsp;&nbsp;Owens Corning | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5276 | &nbsp;&nbsp;&nbsp;&nbsp; 735633 |
| &nbsp;&nbsp;&nbsp;Trane Technologies PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695 | &nbsp;&nbsp;&nbsp;&nbsp; 304465 |
| &nbsp;&nbsp;&nbsp;Trex Co., Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1011 | &nbsp;&nbsp;&nbsp;&nbsp; 64946 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701 | &nbsp;&nbsp;&nbsp;&nbsp; 192544 |
| &nbsp;&nbsp;&nbsp;West Fraser Timber Co., Ltd. (NASDAQ) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1986 | &nbsp;&nbsp;&nbsp;&nbsp; 137650 |
| &nbsp;&nbsp;&nbsp;West Fraser Timber Co., Ltd. (TSX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1679 | &nbsp;&nbsp;&nbsp;&nbsp; 116401 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4066436 |
| **Chemicals — 1.2%** | **Chemicals — 1.2%** | **Chemicals — 1.2%** |
| &nbsp;&nbsp;&nbsp;Air Liquide SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12474 | &nbsp;&nbsp;&nbsp;&nbsp; 2459864 |
| &nbsp;&nbsp;&nbsp;Akzo Nobel NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13068 | &nbsp;&nbsp;&nbsp;&nbsp; 821419 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| &nbsp;&nbsp;&nbsp;BASF SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23657 | &nbsp;&nbsp;$1165206 |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;922 | &nbsp;&nbsp;&nbsp;&nbsp; 85589 |
| &nbsp;&nbsp;&nbsp;Covestro AG† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13839 | &nbsp;&nbsp;&nbsp;&nbsp; 938108 |
| &nbsp;&nbsp;&nbsp;Dow, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1468 | &nbsp;&nbsp;&nbsp;&nbsp; 34190 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2006 | &nbsp;&nbsp;&nbsp;&nbsp; 144231 |
| &nbsp;&nbsp;&nbsp;Johnson Matthey PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4217 | &nbsp;&nbsp;&nbsp;&nbsp; 98463 |
| &nbsp;&nbsp;&nbsp;Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9350 | &nbsp;&nbsp;&nbsp;&nbsp; 4303431 |
| &nbsp;&nbsp;&nbsp;Mosaic Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2626 | &nbsp;&nbsp;&nbsp;&nbsp; 94562 |
| &nbsp;&nbsp;&nbsp;Nippon Sanso Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp; 67710 |
| &nbsp;&nbsp;&nbsp;PPG Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7701 | &nbsp;&nbsp;&nbsp;&nbsp; 812455 |
| &nbsp;&nbsp;&nbsp;RPM International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1243 | &nbsp;&nbsp;&nbsp;&nbsp; 145941 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12499 | &nbsp;&nbsp;&nbsp;&nbsp; 4135669 |
| &nbsp;&nbsp;&nbsp;Shin-Etsu Chemical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49800 | &nbsp;&nbsp;&nbsp;&nbsp; 1451399 |
| &nbsp;&nbsp;&nbsp;Syensqo SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858 | &nbsp;&nbsp;&nbsp;&nbsp; 68501 |
| &nbsp;&nbsp;&nbsp;Symrise AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183 | &nbsp;&nbsp;&nbsp;&nbsp; 16603 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16843341 |
| **Coal — 0.0%** | **Coal — 0.0%** | **Coal — 0.0%** |
| &nbsp;&nbsp;&nbsp;Warrior Met Coal, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1964 | &nbsp;&nbsp;&nbsp;&nbsp; 100910 |
| &nbsp;&nbsp;&nbsp;Whitehaven Coal, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3112 | &nbsp;&nbsp;&nbsp;&nbsp; 12880 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113790 |
| **Commercial Services — 0.9%** | **Commercial Services — 0.9%** | **Commercial Services — 0.9%** |
| &nbsp;&nbsp;&nbsp;Adyen NV\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620 | &nbsp;&nbsp;&nbsp;&nbsp; 1068815 |
| &nbsp;&nbsp;&nbsp;API Group Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4214 | &nbsp;&nbsp;&nbsp;&nbsp; 151999 |
| &nbsp;&nbsp;&nbsp;Ashtead Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7206 | &nbsp;&nbsp;&nbsp;&nbsp; 483253 |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp; 85113 |
| &nbsp;&nbsp;&nbsp;Block, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6245 | &nbsp;&nbsp;&nbsp;&nbsp; 482489 |
| &nbsp;&nbsp;&nbsp;Booz Allen Hamilton Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747 | &nbsp;&nbsp;&nbsp;&nbsp; 80176 |
| &nbsp;&nbsp;&nbsp;Cintas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3168 | &nbsp;&nbsp;&nbsp;&nbsp; 705038 |
| &nbsp;&nbsp;&nbsp;Colliers International Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1081 | &nbsp;&nbsp;&nbsp;&nbsp; 162918 |
| &nbsp;&nbsp;&nbsp;Corpay, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4798 | &nbsp;&nbsp;&nbsp;&nbsp; 1549994 |
| &nbsp;&nbsp;&nbsp;Edenred SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16641 | &nbsp;&nbsp;&nbsp;&nbsp; 477046 |
| &nbsp;&nbsp;&nbsp;Element Fleet Management Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78460 | &nbsp;&nbsp;&nbsp;&nbsp; 2040775 |
| &nbsp;&nbsp;&nbsp;Equifax, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4473 | &nbsp;&nbsp;&nbsp;&nbsp; 1074549 |
| &nbsp;&nbsp;&nbsp;Global Payments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336 | &nbsp;&nbsp;&nbsp;&nbsp; 26863 |
| &nbsp;&nbsp;&nbsp;Gusto, Inc.†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp; 58650 |
| &nbsp;&nbsp;&nbsp;Moody's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556 | &nbsp;&nbsp;&nbsp;&nbsp; 286746 |
| &nbsp;&nbsp;&nbsp;Recruit Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp; 1200530 |
| &nbsp;&nbsp;&nbsp;S&P Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2158 | &nbsp;&nbsp;&nbsp;&nbsp; 1189274 |
| &nbsp;&nbsp;&nbsp;TechnoPro Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40200 | &nbsp;&nbsp;&nbsp;&nbsp; 1283308 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748 | &nbsp;&nbsp;&nbsp;&nbsp; 208475 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12616011 |
| **Computer Graphics — 0.0%** | **Computer Graphics — 0.0%** | **Computer Graphics — 0.0%** |
| &nbsp;&nbsp;&nbsp;Canva, Inc.(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp; 165011 |
| **Computers — 2.1%** | **Computers — 2.1%** | **Computers — 2.1%** |
| &nbsp;&nbsp;&nbsp;Accenture PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4102 | &nbsp;&nbsp;&nbsp;&nbsp; 1095644 |
| &nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112358 | &nbsp;&nbsp;&nbsp;&nbsp; 23322150 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1889 | &nbsp;&nbsp;&nbsp;&nbsp; 858683 |
| &nbsp;&nbsp;&nbsp;Fortinet, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3778 | &nbsp;&nbsp;&nbsp;&nbsp; 377422 |
| &nbsp;&nbsp;&nbsp;International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1513 | &nbsp;&nbsp;&nbsp;&nbsp; 383016 |
| &nbsp;&nbsp;&nbsp;NEC Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54200 | &nbsp;&nbsp;&nbsp;&nbsp; 1581073 |
| &nbsp;&nbsp;&nbsp;Nomura Research Institute, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29000 | &nbsp;&nbsp;&nbsp;&nbsp; 1157500 |
| &nbsp;&nbsp;&nbsp;Okta, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579 | &nbsp;&nbsp;&nbsp;&nbsp; 56626 |
| &nbsp;&nbsp;&nbsp;Super Micro Computer, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2413 | &nbsp;&nbsp;&nbsp;&nbsp; 142295 |
| &nbsp;&nbsp;&nbsp;Teleperformance SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5370 | &nbsp;&nbsp;&nbsp;&nbsp; 525313 |
| &nbsp;&nbsp;&nbsp;Western Digital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1366 | &nbsp;&nbsp;&nbsp;&nbsp; 107490 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29607212 |
| **Cosmetics/Personal Care — 1.3%** | **Cosmetics/Personal Care — 1.3%** | **Cosmetics/Personal Care — 1.3%** |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26927 | &nbsp;&nbsp;&nbsp;&nbsp; 2257829 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Cosmetics/Personal Care (continued)** | **Cosmetics/Personal Care (continued)** | **Cosmetics/Personal Care (continued)** |
| &nbsp;&nbsp;&nbsp;e.l.f. Beauty, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764 | &nbsp;&nbsp;$92589 |
| &nbsp;&nbsp;&nbsp;Kenvue, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142194 | &nbsp;&nbsp;&nbsp;&nbsp; 3048639 |
| &nbsp;&nbsp;&nbsp;L'Oreal SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4105 | &nbsp;&nbsp;&nbsp;&nbsp; 1823958 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29943 | &nbsp;&nbsp;&nbsp;&nbsp; 4505523 |
| &nbsp;&nbsp;&nbsp;Puig Brands SA, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35577 | &nbsp;&nbsp;&nbsp;&nbsp; 663818 |
| &nbsp;&nbsp;&nbsp;Unilever PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84826 | &nbsp;&nbsp;&nbsp;&nbsp; 4938082 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17330438 |
| **Distribution/Wholesale — 0.3%** | **Distribution/Wholesale — 0.3%** | **Distribution/Wholesale — 0.3%** |
| &nbsp;&nbsp;&nbsp;Bunzl PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33530 | &nbsp;&nbsp;&nbsp;&nbsp; 998102 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp; 990716 |
| &nbsp;&nbsp;&nbsp;Pool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333 | &nbsp;&nbsp;&nbsp;&nbsp; 102611 |
| &nbsp;&nbsp;&nbsp;SiteOne Landscape Supply, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536 | &nbsp;&nbsp;&nbsp;&nbsp; 73877 |
| &nbsp;&nbsp;&nbsp;Sumitomo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73300 | &nbsp;&nbsp;&nbsp;&nbsp; 1876247 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4041553 |
| **Diversified Financial Services — 2.2%** | **Diversified Financial Services — 2.2%** | **Diversified Financial Services — 2.2%** |
| &nbsp;&nbsp;&nbsp;AerCap Holdings NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11552 | &nbsp;&nbsp;&nbsp;&nbsp; 1238952 |
| &nbsp;&nbsp;&nbsp;American Express Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8571 | &nbsp;&nbsp;&nbsp;&nbsp; 2565386 |
| &nbsp;&nbsp;&nbsp;Apollo Global Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1224 | &nbsp;&nbsp;&nbsp;&nbsp; 177872 |
| &nbsp;&nbsp;&nbsp;Ares Management Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1009 | &nbsp;&nbsp;&nbsp;&nbsp; 187200 |
| &nbsp;&nbsp;&nbsp;Blackrock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465 | &nbsp;&nbsp;&nbsp;&nbsp; 514295 |
| &nbsp;&nbsp;&nbsp;Capital One Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5002 | &nbsp;&nbsp;&nbsp;&nbsp; 1075430 |
| &nbsp;&nbsp;&nbsp;Cboe Global Markets, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515 | &nbsp;&nbsp;&nbsp;&nbsp; 124135 |
| &nbsp;&nbsp;&nbsp;Charles Schwab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51147 | &nbsp;&nbsp;&nbsp;&nbsp; 4998596 |
| &nbsp;&nbsp;&nbsp;CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5249 | &nbsp;&nbsp;&nbsp;&nbsp; 1460692 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16442 | &nbsp;&nbsp;&nbsp;&nbsp; 3038975 |
| &nbsp;&nbsp;&nbsp;Julius Baer Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14827 | &nbsp;&nbsp;&nbsp;&nbsp; 1007999 |
| &nbsp;&nbsp;&nbsp;Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10192 | &nbsp;&nbsp;&nbsp;&nbsp; 5773462 |
| &nbsp;&nbsp;&nbsp;TPG, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3675 | &nbsp;&nbsp;&nbsp;&nbsp; 209732 |
| &nbsp;&nbsp;&nbsp;Tradeweb Markets, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1383 | &nbsp;&nbsp;&nbsp;&nbsp; 191615 |
| &nbsp;&nbsp;&nbsp;Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23626 | &nbsp;&nbsp;&nbsp;&nbsp; 8162074 |
| &nbsp;&nbsp;&nbsp;Voya Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3423 | &nbsp;&nbsp;&nbsp;&nbsp; 239610 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30966025 |
| **Electric — 1.2%** | **Electric — 1.2%** | **Electric — 1.2%** |
| &nbsp;&nbsp;&nbsp;Ameren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23464 | &nbsp;&nbsp;&nbsp;&nbsp; 2372914 |
| &nbsp;&nbsp;&nbsp;CMS Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2302 | &nbsp;&nbsp;&nbsp;&nbsp; 169888 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2694 | &nbsp;&nbsp;&nbsp;&nbsp; 278829 |
| &nbsp;&nbsp;&nbsp;Constellation Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6071 | &nbsp;&nbsp;&nbsp;&nbsp; 2111737 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1247 | &nbsp;&nbsp;&nbsp;&nbsp; 172597 |
| &nbsp;&nbsp;&nbsp;Electric Power Development Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24600 | &nbsp;&nbsp;&nbsp;&nbsp; 425524 |
| &nbsp;&nbsp;&nbsp;Engie SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84812 | &nbsp;&nbsp;&nbsp;&nbsp; 1898969 |
| &nbsp;&nbsp;&nbsp;Exelon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2793 | &nbsp;&nbsp;&nbsp;&nbsp; 125517 |
| &nbsp;&nbsp;&nbsp;National Grid PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164891 | &nbsp;&nbsp;&nbsp;&nbsp; 2308291 |
| &nbsp;&nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11628 | &nbsp;&nbsp;&nbsp;&nbsp; 826286 |
| &nbsp;&nbsp;&nbsp;NRG Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593 | &nbsp;&nbsp;&nbsp;&nbsp; 99150 |
| &nbsp;&nbsp;&nbsp;PG&E Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25119 | &nbsp;&nbsp;&nbsp;&nbsp; 352168 |
| &nbsp;&nbsp;&nbsp;Sempra | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3625 | &nbsp;&nbsp;&nbsp;&nbsp; 296090 |
| &nbsp;&nbsp;&nbsp;Southern Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19147 | &nbsp;&nbsp;&nbsp;&nbsp; 1809009 |
| &nbsp;&nbsp;&nbsp;Vistra Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1195 | &nbsp;&nbsp;&nbsp;&nbsp; 249205 |
| &nbsp;&nbsp;&nbsp;Xcel Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42683 | &nbsp;&nbsp;&nbsp;&nbsp; 3134639 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16630813 |
| **Electrical Components & Equipment — 0.6%** | **Electrical Components & Equipment — 0.6%** | **Electrical Components & Equipment — 0.6%** |
| &nbsp;&nbsp;&nbsp;AMETEK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17436 | &nbsp;&nbsp;&nbsp;&nbsp; 3223045 |
| &nbsp;&nbsp;&nbsp;Emerson Electric Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1145 | &nbsp;&nbsp;&nbsp;&nbsp; 166609 |
| &nbsp;&nbsp;&nbsp;Legrand SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11498 | &nbsp;&nbsp;&nbsp;&nbsp; 1705140 |
| &nbsp;&nbsp;&nbsp;Prysmian SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33499 | &nbsp;&nbsp;&nbsp;&nbsp; 2690560 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7785354 |
| **Electronics — 0.8%** | **Electronics — 0.8%** | **Electronics — 0.8%** |
| &nbsp;&nbsp;&nbsp;ABB, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43633 | &nbsp;&nbsp;&nbsp;&nbsp; 2875024 |
| &nbsp;&nbsp;&nbsp;Amphenol Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5090 | &nbsp;&nbsp;&nbsp;&nbsp; 542136 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Electronics (continued)** | **Electronics (continued)** | **Electronics (continued)** |
| &nbsp;&nbsp;&nbsp;Fortive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2938 | &nbsp;&nbsp;$140818 |
| &nbsp;&nbsp;&nbsp;Honeywell International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1419 | &nbsp;&nbsp;&nbsp;&nbsp; 315515 |
| &nbsp;&nbsp;&nbsp;Hubbell, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807 | &nbsp;&nbsp;&nbsp;&nbsp; 353046 |
| &nbsp;&nbsp;&nbsp;Jabil, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172 | &nbsp;&nbsp;&nbsp;&nbsp; 38385 |
| &nbsp;&nbsp;&nbsp;Keysight Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25312 | &nbsp;&nbsp;&nbsp;&nbsp; 4148890 |
| &nbsp;&nbsp;&nbsp;Mettler-Toledo International, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178 | &nbsp;&nbsp;&nbsp;&nbsp; 219595 |
| &nbsp;&nbsp;&nbsp;Ralliant Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;902 | &nbsp;&nbsp;&nbsp;&nbsp; 41240 |
| &nbsp;&nbsp;&nbsp;TE Connectivity PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10532 | &nbsp;&nbsp;&nbsp;&nbsp; 2166959 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10841608 |
| **Energy-Alternate Sources — 0.0%** | **Energy-Alternate Sources — 0.0%** | **Energy-Alternate Sources — 0.0%** |
| &nbsp;&nbsp;&nbsp;First Solar, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3162 | &nbsp;&nbsp;&nbsp;&nbsp; 552496 |
| **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** |
| &nbsp;&nbsp;&nbsp;Cellnex Telecom SA\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2932 | &nbsp;&nbsp;&nbsp;&nbsp; 103726 |
| &nbsp;&nbsp;&nbsp;Kajima Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp; 50305 |
| &nbsp;&nbsp;&nbsp;Shimizu Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70900 | &nbsp;&nbsp;&nbsp;&nbsp; 790102 |
| &nbsp;&nbsp;&nbsp;SPIE SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1094 | &nbsp;&nbsp;&nbsp;&nbsp; 64359 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1008492 |
| **Entertainment — 0.0%** | **Entertainment — 0.0%** | **Entertainment — 0.0%** |
| &nbsp;&nbsp;&nbsp;TKO Group Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790 | &nbsp;&nbsp;&nbsp;&nbsp; 132728 |
| **Environmental Control — 0.2%** | **Environmental Control — 0.2%** | **Environmental Control — 0.2%** |
| &nbsp;&nbsp;&nbsp;Pentair PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5632 | &nbsp;&nbsp;&nbsp;&nbsp; 575590 |
| &nbsp;&nbsp;&nbsp;Republic Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9726 | &nbsp;&nbsp;&nbsp;&nbsp; 2243302 |
| &nbsp;&nbsp;&nbsp;Veralto Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1048 | &nbsp;&nbsp;&nbsp;&nbsp; 109862 |
| &nbsp;&nbsp;&nbsp;Waste Connections, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;887 | &nbsp;&nbsp;&nbsp;&nbsp; 165576 |
| &nbsp;&nbsp;&nbsp;Waste Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;911 | &nbsp;&nbsp;&nbsp;&nbsp; 208765 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3303095 |
| **Exchange-Traded Funds — 0.0%** | **Exchange-Traded Funds — 0.0%** | **Exchange-Traded Funds — 0.0%** |
| &nbsp;&nbsp;&nbsp;Sprott Physical Uranium Trust† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp; 40253 |
| **Food — 0.7%** | **Food — 0.7%** | **Food — 0.7%** |
| &nbsp;&nbsp;&nbsp;Ajinomoto Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47200 | &nbsp;&nbsp;&nbsp;&nbsp; 1253554 |
| &nbsp;&nbsp;&nbsp;Lamb Weston Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510 | &nbsp;&nbsp;&nbsp;&nbsp; 29106 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41760 | &nbsp;&nbsp;&nbsp;&nbsp; 2701455 |
| &nbsp;&nbsp;&nbsp;Nestle SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51302 | &nbsp;&nbsp;&nbsp;&nbsp; 4490701 |
| &nbsp;&nbsp;&nbsp;Seven & i Holdings Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98600 | &nbsp;&nbsp;&nbsp;&nbsp; 1305731 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1141 | &nbsp;&nbsp;&nbsp;&nbsp; 59674 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9840221 |
| **Food Service — 0.2%** | **Food Service — 0.2%** | **Food Service — 0.2%** |
| &nbsp;&nbsp;&nbsp;Compass Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85932 | &nbsp;&nbsp;&nbsp;&nbsp; 3024404 |
| **Forest Products & Paper — 0.2%** | **Forest Products & Paper — 0.2%** | **Forest Products & Paper — 0.2%** |
| &nbsp;&nbsp;&nbsp;International Paper Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60212 | &nbsp;&nbsp;&nbsp;&nbsp; 2814309 |
| &nbsp;&nbsp;&nbsp;UPM-Kymmene Oyj | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3107 | &nbsp;&nbsp;&nbsp;&nbsp; 80665 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2894974 |
| **Gas — 0.1%** | **Gas — 0.1%** | **Gas — 0.1%** |
| &nbsp;&nbsp;&nbsp;Atmos Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7880 | &nbsp;&nbsp;&nbsp;&nbsp; 1228650 |
| **Hand/Machine Tools — 0.0%** | **Hand/Machine Tools — 0.0%** | **Hand/Machine Tools — 0.0%** |
| &nbsp;&nbsp;&nbsp;Stanley Black & Decker, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4652 | &nbsp;&nbsp;&nbsp;&nbsp; 314708 |
| **Healthcare-Products — 1.7%** | **Healthcare-Products — 1.7%** | **Healthcare-Products — 1.7%** |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21009 | &nbsp;&nbsp;&nbsp;&nbsp; 2651126 |
| &nbsp;&nbsp;&nbsp;Alcon AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12177 | &nbsp;&nbsp;&nbsp;&nbsp; 1076703 |
| &nbsp;&nbsp;&nbsp;Alcon, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18224 | &nbsp;&nbsp;&nbsp;&nbsp; 1595511 |
| &nbsp;&nbsp;&nbsp;Boston Scientific Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6563 | &nbsp;&nbsp;&nbsp;&nbsp; 688590 |
| &nbsp;&nbsp;&nbsp;Cooper Cos., Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2933 | &nbsp;&nbsp;&nbsp;&nbsp; 207334 |
| &nbsp;&nbsp;&nbsp;Danaher Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10829 | &nbsp;&nbsp;&nbsp;&nbsp; 2135046 |
| &nbsp;&nbsp;&nbsp;EssilorLuxottica SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5009 | &nbsp;&nbsp;&nbsp;&nbsp; 1489659 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6153 | &nbsp;&nbsp;&nbsp;&nbsp; 2960147 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Healthcare-Products (continued)** | **Healthcare-Products (continued)** | **Healthcare-Products (continued)** |
| &nbsp;&nbsp;&nbsp;Koninklijke Philips NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69110 | &nbsp;&nbsp;$1821857 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1845 | &nbsp;&nbsp;&nbsp;&nbsp; 166493 |
| &nbsp;&nbsp;&nbsp;Repligen Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;874 | &nbsp;&nbsp;&nbsp;&nbsp; 102319 |
| &nbsp;&nbsp;&nbsp;Revvity, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16752 | &nbsp;&nbsp;&nbsp;&nbsp; 1472501 |
| &nbsp;&nbsp;&nbsp;Siemens Healthineers AG\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35512 | &nbsp;&nbsp;&nbsp;&nbsp; 1916893 |
| &nbsp;&nbsp;&nbsp;Sonova Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2080 | &nbsp;&nbsp;&nbsp;&nbsp; 569263 |
| &nbsp;&nbsp;&nbsp;Stryker Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3833 | &nbsp;&nbsp;&nbsp;&nbsp; 1505334 |
| &nbsp;&nbsp;&nbsp;Sysmex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36500 | &nbsp;&nbsp;&nbsp;&nbsp; 599539 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3366 | &nbsp;&nbsp;&nbsp;&nbsp; 1574211 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2112 | &nbsp;&nbsp;&nbsp;&nbsp; 193565 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22726091 |
| **Healthcare-Services — 0.7%** | **Healthcare-Services — 0.7%** | **Healthcare-Services — 0.7%** |
| &nbsp;&nbsp;&nbsp;Cigna Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6293 | &nbsp;&nbsp;&nbsp;&nbsp; 1682622 |
| &nbsp;&nbsp;&nbsp;Elevance Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6027 | &nbsp;&nbsp;&nbsp;&nbsp; 1706123 |
| &nbsp;&nbsp;&nbsp;IQVIA Holdings, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464 | &nbsp;&nbsp;&nbsp;&nbsp; 86239 |
| &nbsp;&nbsp;&nbsp;Molina Healthcare, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2106 | &nbsp;&nbsp;&nbsp;&nbsp; 332474 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6460 | &nbsp;&nbsp;&nbsp;&nbsp; 1081469 |
| &nbsp;&nbsp;&nbsp;Tenet Healthcare Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13338 | &nbsp;&nbsp;&nbsp;&nbsp; 2151153 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12187 | &nbsp;&nbsp;&nbsp;&nbsp; 3041388 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10081468 |
| **Home Builders — 0.1%** | **Home Builders — 0.1%** | **Home Builders — 0.1%** |
| &nbsp;&nbsp;&nbsp;NVR, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp;&nbsp;&nbsp; 271782 |
| &nbsp;&nbsp;&nbsp;Open House Group Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp; 124942 |
| &nbsp;&nbsp;&nbsp;Persimmon PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50168 | &nbsp;&nbsp;&nbsp;&nbsp; 758612 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1155336 |
| **Home Furnishings — 0.3%** | **Home Furnishings — 0.3%** | **Home Furnishings — 0.3%** |
| &nbsp;&nbsp;&nbsp;Panasonic Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117600 | &nbsp;&nbsp;&nbsp;&nbsp; 1123361 |
| &nbsp;&nbsp;&nbsp;Sony Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125700 | &nbsp;&nbsp;&nbsp;&nbsp; 3069147 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4192508 |
| **Household Products/Wares — 0.0%** | **Household Products/Wares — 0.0%** | **Household Products/Wares — 0.0%** |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2315 | &nbsp;&nbsp;&nbsp;&nbsp; 288495 |
| **Insurance — 3.1%** | **Insurance — 3.1%** | **Insurance — 3.1%** |
| &nbsp;&nbsp;&nbsp;Admiral Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24695 | &nbsp;&nbsp;&nbsp;&nbsp; 1114728 |
| &nbsp;&nbsp;&nbsp;AIA Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165400 | &nbsp;&nbsp;&nbsp;&nbsp; 1546543 |
| &nbsp;&nbsp;&nbsp;Allstate Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18887 | &nbsp;&nbsp;&nbsp;&nbsp; 3838783 |
| &nbsp;&nbsp;&nbsp;American International Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3676 | &nbsp;&nbsp;&nbsp;&nbsp; 285368 |
| &nbsp;&nbsp;&nbsp;Aviva PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141468 | &nbsp;&nbsp;&nbsp;&nbsp; 1211777 |
| &nbsp;&nbsp;&nbsp;AXA SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48775 | &nbsp;&nbsp;&nbsp;&nbsp; 2375654 |
| &nbsp;&nbsp;&nbsp;Axis Capital Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1480 | &nbsp;&nbsp;&nbsp;&nbsp; 138883 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc., Class B† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15940 | &nbsp;&nbsp;&nbsp;&nbsp; 7521767 |
| &nbsp;&nbsp;&nbsp;Chubb, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15159 | &nbsp;&nbsp;&nbsp;&nbsp; 4032900 |
| &nbsp;&nbsp;&nbsp;Definity Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26834 | &nbsp;&nbsp;&nbsp;&nbsp; 1445697 |
| &nbsp;&nbsp;&nbsp;Definity Financial Corp.†(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1831 | &nbsp;&nbsp;&nbsp;&nbsp; 93714 |
| &nbsp;&nbsp;&nbsp;Equitable Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3088 | &nbsp;&nbsp;&nbsp;&nbsp; 158569 |
| &nbsp;&nbsp;&nbsp;Generali | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20461 | &nbsp;&nbsp;&nbsp;&nbsp; 764015 |
| &nbsp;&nbsp;&nbsp;Great-West Lifeco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34706 | &nbsp;&nbsp;&nbsp;&nbsp; 1303228 |
| &nbsp;&nbsp;&nbsp;Hartford Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2377 | &nbsp;&nbsp;&nbsp;&nbsp; 295675 |
| &nbsp;&nbsp;&nbsp;Mandatum Oyj | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132210 | &nbsp;&nbsp;&nbsp;&nbsp; 898931 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4949 | &nbsp;&nbsp;&nbsp;&nbsp; 985841 |
| &nbsp;&nbsp;&nbsp;MetLife, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11190 | &nbsp;&nbsp;&nbsp;&nbsp; 849881 |
| &nbsp;&nbsp;&nbsp;Muenchener Rueckversicherungs-Gesellschaft AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5937 | &nbsp;&nbsp;&nbsp;&nbsp; 3899863 |
| &nbsp;&nbsp;&nbsp;Progressive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2193 | &nbsp;&nbsp;&nbsp;&nbsp; 530794 |
| &nbsp;&nbsp;&nbsp;RenaissanceRe Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1215 | &nbsp;&nbsp;&nbsp;&nbsp; 296144 |
| &nbsp;&nbsp;&nbsp;Sampo Oyj, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177446 | &nbsp;&nbsp;&nbsp;&nbsp; 1906752 |
| &nbsp;&nbsp;&nbsp;Storebrand ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69480 | &nbsp;&nbsp;&nbsp;&nbsp; 989912 |
| &nbsp;&nbsp;&nbsp;Tokio Marine Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80900 | &nbsp;&nbsp;&nbsp;&nbsp; 3285356 |
| &nbsp;&nbsp;&nbsp;Travelers Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8856 | &nbsp;&nbsp;&nbsp;&nbsp; 2304685 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42075460 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Internet — 5.7%** | **Internet — 5.7%** | **Internet — 5.7%** |
| &nbsp;&nbsp;&nbsp;Alibaba Group Holding, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36992 | &nbsp;&nbsp;$545220 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34837 | &nbsp;&nbsp;&nbsp;&nbsp; 6685220 |
| &nbsp;&nbsp;&nbsp;Alphabet, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65142 | &nbsp;&nbsp;&nbsp;&nbsp; 12563286 |
| &nbsp;&nbsp;&nbsp;Amazon.com, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102447 | &nbsp;&nbsp;&nbsp;&nbsp; 23983867 |
| &nbsp;&nbsp;&nbsp;Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443 | &nbsp;&nbsp;&nbsp;&nbsp; 2438299 |
| &nbsp;&nbsp;&nbsp;CDW Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769 | &nbsp;&nbsp;&nbsp;&nbsp; 134098 |
| &nbsp;&nbsp;&nbsp;DoorDash, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5233 | &nbsp;&nbsp;&nbsp;&nbsp; 1309558 |
| &nbsp;&nbsp;&nbsp;eBay, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1881 | &nbsp;&nbsp;&nbsp;&nbsp; 172582 |
| &nbsp;&nbsp;&nbsp;Gen Digital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9907 | &nbsp;&nbsp;&nbsp;&nbsp; 292157 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23781 | &nbsp;&nbsp;&nbsp;&nbsp; 18393177 |
| &nbsp;&nbsp;&nbsp;Netflix, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5437 | &nbsp;&nbsp;&nbsp;&nbsp; 6303658 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2564 | &nbsp;&nbsp;&nbsp;&nbsp; 445110 |
| &nbsp;&nbsp;&nbsp;Pinterest, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26752 | &nbsp;&nbsp;&nbsp;&nbsp; 1032627 |
| &nbsp;&nbsp;&nbsp;Sea, Ltd. ADR† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13731 | &nbsp;&nbsp;&nbsp;&nbsp; 2150961 |
| &nbsp;&nbsp;&nbsp;Shopify, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11073 | &nbsp;&nbsp;&nbsp;&nbsp; 1353231 |
| &nbsp;&nbsp;&nbsp;Spotify Technology SA† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214 | &nbsp;&nbsp;&nbsp;&nbsp; 134080 |
| &nbsp;&nbsp;&nbsp;Tencent Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10400 | &nbsp;&nbsp;&nbsp;&nbsp; 728662 |
| &nbsp;&nbsp;&nbsp;Uber Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;874 | &nbsp;&nbsp;&nbsp;&nbsp; 76694 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78742487 |
| **Investment Companies — 0.1%** | **Investment Companies — 0.1%** | **Investment Companies — 0.1%** |
| &nbsp;&nbsp;&nbsp;SK Square Co., Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5556 | &nbsp;&nbsp;&nbsp;&nbsp; 609365 |
| &nbsp;&nbsp;&nbsp;Yellow Cake PLC\*† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6563 | &nbsp;&nbsp;&nbsp;&nbsp; 42453 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651818 |
| **Iron/Steel — 0.2%** | **Iron/Steel — 0.2%** | **Iron/Steel — 0.2%** |
| &nbsp;&nbsp;&nbsp;ArcelorMittal SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4594 | &nbsp;&nbsp;&nbsp;&nbsp; 144278 |
| &nbsp;&nbsp;&nbsp;Carpenter Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248 | &nbsp;&nbsp;&nbsp;&nbsp; 61849 |
| &nbsp;&nbsp;&nbsp;Champion Iron, Ltd. (ASX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24450 | &nbsp;&nbsp;&nbsp;&nbsp; 65522 |
| &nbsp;&nbsp;&nbsp;China Steel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109000 | &nbsp;&nbsp;&nbsp;&nbsp; 71029 |
| &nbsp;&nbsp;&nbsp;Fortescue, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9761 | &nbsp;&nbsp;&nbsp;&nbsp; 111470 |
| &nbsp;&nbsp;&nbsp;Jindal Steel & Power, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2608 | &nbsp;&nbsp;&nbsp;&nbsp; 28730 |
| &nbsp;&nbsp;&nbsp;JSW Steel, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7799 | &nbsp;&nbsp;&nbsp;&nbsp; 94186 |
| &nbsp;&nbsp;&nbsp;Nippon Steel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9900 | &nbsp;&nbsp;&nbsp;&nbsp; 191665 |
| &nbsp;&nbsp;&nbsp;Nucor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2331 | &nbsp;&nbsp;&nbsp;&nbsp; 333496 |
| &nbsp;&nbsp;&nbsp;POSCO Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931 | &nbsp;&nbsp;&nbsp;&nbsp; 207105 |
| &nbsp;&nbsp;&nbsp;Reliance, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012 | &nbsp;&nbsp;&nbsp;&nbsp; 293612 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5225 | &nbsp;&nbsp;&nbsp;&nbsp; 666501 |
| &nbsp;&nbsp;&nbsp;Tata Steel, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83424 | &nbsp;&nbsp;&nbsp;&nbsp; 149804 |
| &nbsp;&nbsp;&nbsp;thyssenkrupp AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5519 | &nbsp;&nbsp;&nbsp;&nbsp; 64368 |
| &nbsp;&nbsp;&nbsp;Vale SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36894 | &nbsp;&nbsp;&nbsp;&nbsp; 352234 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2835849 |
| **Leisure Time — 0.1%** | **Leisure Time — 0.1%** | **Leisure Time — 0.1%** |
| &nbsp;&nbsp;&nbsp;Amadeus IT Group SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19599 | &nbsp;&nbsp;&nbsp;&nbsp; 1575040 |
| **Lodging — 0.1%** | **Lodging — 0.1%** | **Lodging — 0.1%** |
| &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1677 | &nbsp;&nbsp;&nbsp;&nbsp; 449570 |
| &nbsp;&nbsp;&nbsp;Las Vegas Sands Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3765 | &nbsp;&nbsp;&nbsp;&nbsp; 197286 |
| &nbsp;&nbsp;&nbsp;Marriott International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1294 | &nbsp;&nbsp;&nbsp;&nbsp; 341396 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988252 |
| **Machinery-Construction & Mining — 0.8%** | **Machinery-Construction & Mining — 0.8%** | **Machinery-Construction & Mining — 0.8%** |
| &nbsp;&nbsp;&nbsp;Caterpillar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4688 | &nbsp;&nbsp;&nbsp;&nbsp; 2053438 |
| &nbsp;&nbsp;&nbsp;GE Vernova, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2727 | &nbsp;&nbsp;&nbsp;&nbsp; 1800611 |
| &nbsp;&nbsp;&nbsp;Hitachi, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75800 | &nbsp;&nbsp;&nbsp;&nbsp; 2360959 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Electric Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119000 | &nbsp;&nbsp;&nbsp;&nbsp; 2637255 |
| &nbsp;&nbsp;&nbsp;Sandvik AB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67350 | &nbsp;&nbsp;&nbsp;&nbsp; 1645695 |
| &nbsp;&nbsp;&nbsp;Vertiv Holdings Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1634 | &nbsp;&nbsp;&nbsp;&nbsp; 237910 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10735868 |
| **Machinery-Diversified — 0.8%** | **Machinery-Diversified — 0.8%** | **Machinery-Diversified — 0.8%** |
| &nbsp;&nbsp;&nbsp;Deere & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8558 | &nbsp;&nbsp;&nbsp;&nbsp; 4487559 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Machinery-Diversified (continued)** | **Machinery-Diversified (continued)** | **Machinery-Diversified (continued)** |
| &nbsp;&nbsp;&nbsp;Dover Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1573 | &nbsp;&nbsp;$284933 |
| &nbsp;&nbsp;&nbsp;Esab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779 | &nbsp;&nbsp;&nbsp;&nbsp; 104518 |
| &nbsp;&nbsp;&nbsp;Ingersoll Rand, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2650 | &nbsp;&nbsp;&nbsp;&nbsp; 224270 |
| &nbsp;&nbsp;&nbsp;Interpump Group SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2128 | &nbsp;&nbsp;&nbsp;&nbsp; 87328 |
| &nbsp;&nbsp;&nbsp;KION Group AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20282 | &nbsp;&nbsp;&nbsp;&nbsp; 1255660 |
| &nbsp;&nbsp;&nbsp;Kubota Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp;&nbsp;&nbsp; 80666 |
| &nbsp;&nbsp;&nbsp;Middleby Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334 | &nbsp;&nbsp;&nbsp;&nbsp; 48497 |
| &nbsp;&nbsp;&nbsp;Rockwell Automation, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2896 | &nbsp;&nbsp;&nbsp;&nbsp; 1018552 |
| &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14746 | &nbsp;&nbsp;&nbsp;&nbsp; 2831969 |
| &nbsp;&nbsp;&nbsp;Xylem, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1215 | &nbsp;&nbsp;&nbsp;&nbsp; 175713 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10599665 |
| **Media — 0.1%** | **Media — 0.1%** | **Media — 0.1%** |
| &nbsp;&nbsp;&nbsp;Charter Communications, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556 | &nbsp;&nbsp;&nbsp;&nbsp; 149764 |
| &nbsp;&nbsp;&nbsp;Comcast Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28599 | &nbsp;&nbsp;&nbsp;&nbsp; 950345 |
| &nbsp;&nbsp;&nbsp;Walt Disney Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3056 | &nbsp;&nbsp;&nbsp;&nbsp; 364000 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1464109 |
| **Metal Fabricate/Hardware — 0.0%** | **Metal Fabricate/Hardware — 0.0%** | **Metal Fabricate/Hardware — 0.0%** |
| &nbsp;&nbsp;&nbsp;Tenaris SA ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2835 | &nbsp;&nbsp;&nbsp;&nbsp; 99055 |
| **Mining — 1.5%** | **Mining — 1.5%** | **Mining — 1.5%** |
| &nbsp;&nbsp;&nbsp;Agnico Eagle Mines, Ltd. (NYSE) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1165 | &nbsp;&nbsp;&nbsp;&nbsp; 144879 |
| &nbsp;&nbsp;&nbsp;Agnico Eagle Mines, Ltd. (TSX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7132 | &nbsp;&nbsp;&nbsp;&nbsp; 885375 |
| &nbsp;&nbsp;&nbsp;Alamos Gold, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3868 | &nbsp;&nbsp;&nbsp;&nbsp; 93992 |
| &nbsp;&nbsp;&nbsp;Alamos Gold, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14491 | &nbsp;&nbsp;&nbsp;&nbsp; 352130 |
| &nbsp;&nbsp;&nbsp;Alcoa Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2188 | &nbsp;&nbsp;&nbsp;&nbsp; 65574 |
| &nbsp;&nbsp;&nbsp;Alrosa PJSC†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121860 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;Aluminium Bahrain BSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20052 | &nbsp;&nbsp;&nbsp;&nbsp; 50263 |
| &nbsp;&nbsp;&nbsp;Angl0d American PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15579 | &nbsp;&nbsp;&nbsp;&nbsp; 441938 |
| &nbsp;&nbsp;&nbsp;Anglogold Ashanti PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3436 | &nbsp;&nbsp;&nbsp;&nbsp; 158915 |
| &nbsp;&nbsp;&nbsp;Anglogold Ashanti PLC (JSE) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2925 | &nbsp;&nbsp;&nbsp;&nbsp; 132505 |
| &nbsp;&nbsp;&nbsp;Anglogold Ashanti PLC (NYSE) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2517 | &nbsp;&nbsp;&nbsp;&nbsp; 116411 |
| &nbsp;&nbsp;&nbsp;Antofagasta PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68863 | &nbsp;&nbsp;&nbsp;&nbsp; 1707017 |
| &nbsp;&nbsp;&nbsp;Artemis Gold, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13711 | &nbsp;&nbsp;&nbsp;&nbsp; 250847 |
| &nbsp;&nbsp;&nbsp;Ausgold, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40930 | &nbsp;&nbsp;&nbsp;&nbsp; 14336 |
| &nbsp;&nbsp;&nbsp;Barrick Mining Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7685 | &nbsp;&nbsp;&nbsp;&nbsp; 162307 |
| &nbsp;&nbsp;&nbsp;BHP Group, Ltd. (ASX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91125 | &nbsp;&nbsp;&nbsp;&nbsp; 2298538 |
| &nbsp;&nbsp;&nbsp;BHP Group, Ltd. (LSE) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42432 | &nbsp;&nbsp;&nbsp;&nbsp; 1068641 |
| &nbsp;&nbsp;&nbsp;Cameco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3582 | &nbsp;&nbsp;&nbsp;&nbsp; 268399 |
| &nbsp;&nbsp;&nbsp;Capricorn Metals, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36844 | &nbsp;&nbsp;&nbsp;&nbsp; 212390 |
| &nbsp;&nbsp;&nbsp;Capstone Copper Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27715 | &nbsp;&nbsp;&nbsp;&nbsp; 155417 |
| &nbsp;&nbsp;&nbsp;CMOC Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63000 | &nbsp;&nbsp;&nbsp;&nbsp; 71748 |
| &nbsp;&nbsp;&nbsp;Coeur Mining, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5951 | &nbsp;&nbsp;&nbsp;&nbsp; 51714 |
| &nbsp;&nbsp;&nbsp;Discovery Silver Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34530 | &nbsp;&nbsp;&nbsp;&nbsp; 80494 |
| &nbsp;&nbsp;&nbsp;Dundee Precious Metals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5748 | &nbsp;&nbsp;&nbsp;&nbsp; 92924 |
| &nbsp;&nbsp;&nbsp;Endeavour Mining PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1342 | &nbsp;&nbsp;&nbsp;&nbsp; 40291 |
| &nbsp;&nbsp;&nbsp;Energy Fuels, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7629 | &nbsp;&nbsp;&nbsp;&nbsp; 69348 |
| &nbsp;&nbsp;&nbsp;Equinox Gold Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8344 | &nbsp;&nbsp;&nbsp;&nbsp; 50825 |
| &nbsp;&nbsp;&nbsp;ERO Copper Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9209 | &nbsp;&nbsp;&nbsp;&nbsp; 124617 |
| &nbsp;&nbsp;&nbsp;First Quantum Minerals, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16167 | &nbsp;&nbsp;&nbsp;&nbsp; 271745 |
| &nbsp;&nbsp;&nbsp;Foran Mining Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23013 | &nbsp;&nbsp;&nbsp;&nbsp; 42684 |
| &nbsp;&nbsp;&nbsp;Franco-Nevada Corp. (NYSE) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2776 | &nbsp;&nbsp;&nbsp;&nbsp; 442300 |
| &nbsp;&nbsp;&nbsp;Franco-Nevada Corp. (TSX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5531 | &nbsp;&nbsp;&nbsp;&nbsp; 881064 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55624 | &nbsp;&nbsp;&nbsp;&nbsp; 2238310 |
| &nbsp;&nbsp;&nbsp;G Mining Ventures Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14014 | &nbsp;&nbsp;&nbsp;&nbsp; 164252 |
| &nbsp;&nbsp;&nbsp;Genesis Minerals, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18704 | &nbsp;&nbsp;&nbsp;&nbsp; 44354 |
| &nbsp;&nbsp;&nbsp;Glencore PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161242 | &nbsp;&nbsp;&nbsp;&nbsp; 648948 |
| &nbsp;&nbsp;&nbsp;Gold Fields, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15720 | &nbsp;&nbsp;&nbsp;&nbsp; 380395 |
| &nbsp;&nbsp;&nbsp;Grupo Mexico SAB de CV, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32118 | &nbsp;&nbsp;&nbsp;&nbsp; 200369 |
| &nbsp;&nbsp;&nbsp;Harmony Gold Mining Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6998 | &nbsp;&nbsp;&nbsp;&nbsp; 92891 |
| &nbsp;&nbsp;&nbsp;Iluka Resources, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10380 | &nbsp;&nbsp;&nbsp;&nbsp; 34354 |
| &nbsp;&nbsp;&nbsp;Impala Platinum Holdings, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31291 | &nbsp;&nbsp;&nbsp;&nbsp; 295299 |
| &nbsp;&nbsp;&nbsp;Industrias Penoles SAB de CV† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6008 | &nbsp;&nbsp;&nbsp;&nbsp; 157788 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Mining (continued)** | **Mining (continued)** | **Mining (continued)** |
| &nbsp;&nbsp;&nbsp;Ivanhoe Electric, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13010 | &nbsp;&nbsp;$124376 |
| &nbsp;&nbsp;&nbsp;Ivanhoe Mines, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9070 | &nbsp;&nbsp;&nbsp;&nbsp; 70761 |
| &nbsp;&nbsp;&nbsp;Kinross Gold Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8591 | &nbsp;&nbsp;&nbsp;&nbsp; 137459 |
| &nbsp;&nbsp;&nbsp;Lundin Gold, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2588 | &nbsp;&nbsp;&nbsp;&nbsp; 119781 |
| &nbsp;&nbsp;&nbsp;MP Materials Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990 | &nbsp;&nbsp;&nbsp;&nbsp; 60885 |
| &nbsp;&nbsp;&nbsp;NAC Kazatomprom JSC GDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3043 | &nbsp;&nbsp;&nbsp;&nbsp; 125372 |
| &nbsp;&nbsp;&nbsp;Newmont Corp.(ASX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1813 | &nbsp;&nbsp;&nbsp;&nbsp; 112702 |
| &nbsp;&nbsp;&nbsp;Newmont Corp.(NYSE) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11014 | &nbsp;&nbsp;&nbsp;&nbsp; 683969 |
| &nbsp;&nbsp;&nbsp;NGEx Minerals, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9570 | &nbsp;&nbsp;&nbsp;&nbsp; 135165 |
| &nbsp;&nbsp;&nbsp;Northam Platinum Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7609 | &nbsp;&nbsp;&nbsp;&nbsp; 87626 |
| &nbsp;&nbsp;&nbsp;Northern Star Resources, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18415 | &nbsp;&nbsp;&nbsp;&nbsp; 184262 |
| &nbsp;&nbsp;&nbsp;Novagold Resources, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8797 | &nbsp;&nbsp;&nbsp;&nbsp; 45656 |
| &nbsp;&nbsp;&nbsp;OR Royalties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13682 | &nbsp;&nbsp;&nbsp;&nbsp; 378980 |
| &nbsp;&nbsp;&nbsp;Ora Banda Mining, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36747 | &nbsp;&nbsp;&nbsp;&nbsp; 15350 |
| &nbsp;&nbsp;&nbsp;Orla Mining, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6512 | &nbsp;&nbsp;&nbsp;&nbsp; 60627 |
| &nbsp;&nbsp;&nbsp;Polyus PJSC<br> Series E†(1)(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4280 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp;Predictive Discovery, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332166 | &nbsp;&nbsp;&nbsp;&nbsp; 90723 |
| &nbsp;&nbsp;&nbsp;Rio Tinto PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11142 | &nbsp;&nbsp;&nbsp;&nbsp; 662676 |
| &nbsp;&nbsp;&nbsp;Rio Tinto, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2940 | &nbsp;&nbsp;&nbsp;&nbsp; 211045 |
| &nbsp;&nbsp;&nbsp;Robex Resources, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4771 | &nbsp;&nbsp;&nbsp;&nbsp; 10885 |
| &nbsp;&nbsp;&nbsp;Royal Gold, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148 | &nbsp;&nbsp;&nbsp;&nbsp; 22410 |
| &nbsp;&nbsp;&nbsp;Sibanye Stillwater, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45951 | &nbsp;&nbsp;&nbsp;&nbsp; 96789 |
| &nbsp;&nbsp;&nbsp;Skeena Resources, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14444 | &nbsp;&nbsp;&nbsp;&nbsp; 203275 |
| &nbsp;&nbsp;&nbsp;Snowline Gold Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15252 | &nbsp;&nbsp;&nbsp;&nbsp; 105122 |
| &nbsp;&nbsp;&nbsp;Southern Copper Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;&nbsp; 190392 |
| &nbsp;&nbsp;&nbsp;Sovereign Metals, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40743 | &nbsp;&nbsp;&nbsp;&nbsp; 18721 |
| &nbsp;&nbsp;&nbsp;Teck Resources, Ltd., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8802 | &nbsp;&nbsp;&nbsp;&nbsp; 285713 |
| &nbsp;&nbsp;&nbsp;Torex Gold Resources, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;643 | &nbsp;&nbsp;&nbsp;&nbsp; 18112 |
| &nbsp;&nbsp;&nbsp;Turaco Gold, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42786 | &nbsp;&nbsp;&nbsp;&nbsp; 11823 |
| &nbsp;&nbsp;&nbsp;Uranium Energy Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33035 | &nbsp;&nbsp;&nbsp;&nbsp; 286413 |
| &nbsp;&nbsp;&nbsp;Valterra Platinum, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7007 | &nbsp;&nbsp;&nbsp;&nbsp; 316003 |
| &nbsp;&nbsp;&nbsp;Valterra Platinum, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1490 | &nbsp;&nbsp;&nbsp;&nbsp; 66511 |
| &nbsp;&nbsp;&nbsp;Wheaton Precious Metals Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9746 | &nbsp;&nbsp;&nbsp;&nbsp; 891320 |
| &nbsp;&nbsp;&nbsp;Zijin Mining Group Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146000 | &nbsp;&nbsp;&nbsp;&nbsp; 389643 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21277135 |
| **Miscellaneous Manufacturing — 0.8%** | **Miscellaneous Manufacturing — 0.8%** | **Miscellaneous Manufacturing — 0.8%** |
| &nbsp;&nbsp;&nbsp;Parker-Hannifin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4161 | &nbsp;&nbsp;&nbsp;&nbsp; 3045436 |
| &nbsp;&nbsp;&nbsp;Siemens AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26640 | &nbsp;&nbsp;&nbsp;&nbsp; 6837309 |
| &nbsp;&nbsp;&nbsp;Teledyne Technologies, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782 | &nbsp;&nbsp;&nbsp;&nbsp; 430898 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10313643 |
| **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp;Zebra Technologies Corp., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349 | &nbsp;&nbsp;&nbsp;&nbsp; 118318 |
| **Oil & Gas — 2.4%** | **Oil & Gas — 2.4%** | **Oil & Gas — 2.4%** |
| &nbsp;&nbsp;&nbsp;BP PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29321 | &nbsp;&nbsp;&nbsp;&nbsp; 156730 |
| &nbsp;&nbsp;&nbsp;Canadian Natural Resources, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10776 | &nbsp;&nbsp;&nbsp;&nbsp; 341105 |
| &nbsp;&nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29586 | &nbsp;&nbsp;&nbsp;&nbsp; 4486421 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39929 | &nbsp;&nbsp;&nbsp;&nbsp; 3806831 |
| &nbsp;&nbsp;&nbsp;DCC PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15071 | &nbsp;&nbsp;&nbsp;&nbsp; 947407 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7487 | &nbsp;&nbsp;&nbsp;&nbsp; 1113017 |
| &nbsp;&nbsp;&nbsp;EOG Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5366 | &nbsp;&nbsp;&nbsp;&nbsp; 644027 |
| &nbsp;&nbsp;&nbsp;EQT Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6540 | &nbsp;&nbsp;&nbsp;&nbsp; 351525 |
| &nbsp;&nbsp;&nbsp;Equinor ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82385 | &nbsp;&nbsp;&nbsp;&nbsp; 2133195 |
| &nbsp;&nbsp;&nbsp;Expand Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3024 | &nbsp;&nbsp;&nbsp;&nbsp; 316855 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29143 | &nbsp;&nbsp;&nbsp;&nbsp; 3253525 |
| &nbsp;&nbsp;&nbsp;Galp Energia SGPS SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10472 | &nbsp;&nbsp;&nbsp;&nbsp; 199755 |
| &nbsp;&nbsp;&nbsp;HF Sinclair Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2828 | &nbsp;&nbsp;&nbsp;&nbsp; 124262 |
| &nbsp;&nbsp;&nbsp;Kelt Exploration, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6502 | &nbsp;&nbsp;&nbsp;&nbsp; 34537 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2205 | &nbsp;&nbsp;&nbsp;&nbsp; 375269 |
| &nbsp;&nbsp;&nbsp;NuVista Energy, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5469 | &nbsp;&nbsp;&nbsp;&nbsp; 57785 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| &nbsp;&nbsp;&nbsp;Ovintiv, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3436 | &nbsp;&nbsp;$141495 |
| &nbsp;&nbsp;&nbsp;Permian Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8553 | &nbsp;&nbsp;&nbsp;&nbsp; 121111 |
| &nbsp;&nbsp;&nbsp;Phillips 66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4118 | &nbsp;&nbsp;&nbsp;&nbsp; 508902 |
| &nbsp;&nbsp;&nbsp;Precision Drilling Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;974 | &nbsp;&nbsp;&nbsp;&nbsp; 54851 |
| &nbsp;&nbsp;&nbsp;Range Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58656 | &nbsp;&nbsp;&nbsp;&nbsp; 2153848 |
| &nbsp;&nbsp;&nbsp;Shell PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21456 | &nbsp;&nbsp;&nbsp;&nbsp; 768185 |
| &nbsp;&nbsp;&nbsp;Shell PLC ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44591 | &nbsp;&nbsp;&nbsp;&nbsp; 3219916 |
| &nbsp;&nbsp;&nbsp;Suncor Energy, Inc. (TSX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7618 | &nbsp;&nbsp;&nbsp;&nbsp; 300465 |
| &nbsp;&nbsp;&nbsp;Texas Pacific Land Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp;&nbsp;&nbsp; 65833 |
| &nbsp;&nbsp;&nbsp;TotalEnergies SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63664 | &nbsp;&nbsp;&nbsp;&nbsp; 3779426 |
| &nbsp;&nbsp;&nbsp;Tourmaline Oil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3271 | &nbsp;&nbsp;&nbsp;&nbsp; 139211 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16570 | &nbsp;&nbsp;&nbsp;&nbsp; 2275227 |
| &nbsp;&nbsp;&nbsp;Var Energi ASA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13309 | &nbsp;&nbsp;&nbsp;&nbsp; 45905 |
| &nbsp;&nbsp;&nbsp;Viper Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3072 | &nbsp;&nbsp;&nbsp;&nbsp; 115692 |
| &nbsp;&nbsp;&nbsp;Vista Energy SAB de CV† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1532 | &nbsp;&nbsp;&nbsp;&nbsp; 68480 |
| &nbsp;&nbsp;&nbsp;Weatherford International PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1940 | &nbsp;&nbsp;&nbsp;&nbsp; 109707 |
| &nbsp;&nbsp;&nbsp;Woodside Energy Group, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10792 | &nbsp;&nbsp;&nbsp;&nbsp; 184414 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32394914 |
| **Oil & Gas Services — 0.3%** | **Oil & Gas Services — 0.3%** | **Oil & Gas Services — 0.3%** |
| &nbsp;&nbsp;&nbsp;Baker Hughes Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4421 | &nbsp;&nbsp;&nbsp;&nbsp; 199166 |
| &nbsp;&nbsp;&nbsp;Expro Group Holdings NV† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7895 | &nbsp;&nbsp;&nbsp;&nbsp; 85108 |
| &nbsp;&nbsp;&nbsp;Kodiak Gas Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2051 | &nbsp;&nbsp;&nbsp;&nbsp; 66309 |
| &nbsp;&nbsp;&nbsp;Schlumberger NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81800 | &nbsp;&nbsp;&nbsp;&nbsp; 2764840 |
| &nbsp;&nbsp;&nbsp;TechnipFMC PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38497 | &nbsp;&nbsp;&nbsp;&nbsp; 1400136 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4515559 |
| **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** |
| &nbsp;&nbsp;&nbsp;Ball Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21883 | &nbsp;&nbsp;&nbsp;&nbsp; 1253021 |
| &nbsp;&nbsp;&nbsp;Packaging Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1042 | &nbsp;&nbsp;&nbsp;&nbsp; 201887 |
| &nbsp;&nbsp;&nbsp;Stora Enso Oyj, Class R | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83857 | &nbsp;&nbsp;&nbsp;&nbsp; 864532 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2319440 |
| **Pharmaceuticals — 2.3%** | **Pharmaceuticals — 2.3%** | **Pharmaceuticals — 2.3%** |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6768 | &nbsp;&nbsp;&nbsp;&nbsp; 1279287 |
| &nbsp;&nbsp;&nbsp;AstraZeneca PLC ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77266 | &nbsp;&nbsp;&nbsp;&nbsp; 5647372 |
| &nbsp;&nbsp;&nbsp;Becton Dickinson & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5683 | &nbsp;&nbsp;&nbsp;&nbsp; 1012995 |
| &nbsp;&nbsp;&nbsp;Cardinal Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690 | &nbsp;&nbsp;&nbsp;&nbsp; 107102 |
| &nbsp;&nbsp;&nbsp;Cencora, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9348 | &nbsp;&nbsp;&nbsp;&nbsp; 2674276 |
| &nbsp;&nbsp;&nbsp;Chugai Pharmaceutical Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35400 | &nbsp;&nbsp;&nbsp;&nbsp; 1727745 |
| &nbsp;&nbsp;&nbsp;Chugai Pharmaceutical Co., Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17748 | &nbsp;&nbsp;&nbsp;&nbsp; 427372 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5522 | &nbsp;&nbsp;&nbsp;&nbsp; 342916 |
| &nbsp;&nbsp;&nbsp;Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9155 | &nbsp;&nbsp;&nbsp;&nbsp; 6775341 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4948 | &nbsp;&nbsp;&nbsp;&nbsp; 815134 |
| &nbsp;&nbsp;&nbsp;McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289 | &nbsp;&nbsp;&nbsp;&nbsp; 200433 |
| &nbsp;&nbsp;&nbsp;Merck & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5110 | &nbsp;&nbsp;&nbsp;&nbsp; 399193 |
| &nbsp;&nbsp;&nbsp;Novartis AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24633 | &nbsp;&nbsp;&nbsp;&nbsp; 2856488 |
| &nbsp;&nbsp;&nbsp;Novo Nordisk A/S, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33307 | &nbsp;&nbsp;&nbsp;&nbsp; 1601506 |
| &nbsp;&nbsp;&nbsp;Pfizer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5698 | &nbsp;&nbsp;&nbsp;&nbsp; 132706 |
| &nbsp;&nbsp;&nbsp;Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11433 | &nbsp;&nbsp;&nbsp;&nbsp; 3618866 |
| &nbsp;&nbsp;&nbsp;Sanofi SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25748 | &nbsp;&nbsp;&nbsp;&nbsp; 2316603 |
| &nbsp;&nbsp;&nbsp;Viatris, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22475 | &nbsp;&nbsp;&nbsp;&nbsp; 196432 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32131767 |
| **Pipelines — 0.2%** | **Pipelines — 0.2%** | **Pipelines — 0.2%** |
| &nbsp;&nbsp;&nbsp;Enbridge, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8375 | &nbsp;&nbsp;&nbsp;&nbsp; 379304 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3847 | &nbsp;&nbsp;&nbsp;&nbsp; 107947 |
| &nbsp;&nbsp;&nbsp;ONEOK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3084 | &nbsp;&nbsp;&nbsp;&nbsp; 253227 |
| &nbsp;&nbsp;&nbsp;South Bow Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4579 | &nbsp;&nbsp;&nbsp;&nbsp; 120258 |
| &nbsp;&nbsp;&nbsp;Targa Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3753 | &nbsp;&nbsp;&nbsp;&nbsp; 624537 |
| &nbsp;&nbsp;&nbsp;Williams Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14561 | &nbsp;&nbsp;&nbsp;&nbsp; 872932 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2358205 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Private Equity — 0.3%** | **Private Equity — 0.3%** | **Private Equity — 0.3%** |
| &nbsp;&nbsp;&nbsp;Blackstone, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1078 | &nbsp;&nbsp;$186451 |
| &nbsp;&nbsp;&nbsp;Bridgepoint Group PLC\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190693 | &nbsp;&nbsp;&nbsp;&nbsp; 825527 |
| &nbsp;&nbsp;&nbsp;Brookfield Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26688 | &nbsp;&nbsp;&nbsp;&nbsp; 1787611 |
| &nbsp;&nbsp;&nbsp;CVC Capital Partners PLC\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46644 | &nbsp;&nbsp;&nbsp;&nbsp; 900121 |
| &nbsp;&nbsp;&nbsp;KKR & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2519 | &nbsp;&nbsp;&nbsp;&nbsp; 369235 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4068945 |
| **Real Estate — 0.2%** | **Real Estate — 0.2%** | **Real Estate — 0.2%** |
| &nbsp;&nbsp;&nbsp;CBRE Group, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1935 | &nbsp;&nbsp;&nbsp;&nbsp; 301357 |
| &nbsp;&nbsp;&nbsp;CoStar Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;618 | &nbsp;&nbsp;&nbsp;&nbsp; 58827 |
| &nbsp;&nbsp;&nbsp;Emerald Resources NL† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65192 | &nbsp;&nbsp;&nbsp;&nbsp; 144540 |
| &nbsp;&nbsp;&nbsp;Kerry Properties, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp; 96306 |
| &nbsp;&nbsp;&nbsp;Kojamo Oyj† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14572 | &nbsp;&nbsp;&nbsp;&nbsp; 185253 |
| &nbsp;&nbsp;&nbsp;LEG Immobilien SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;944 | &nbsp;&nbsp;&nbsp;&nbsp; 75141 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Estate Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15500 | &nbsp;&nbsp;&nbsp;&nbsp; 291499 |
| &nbsp;&nbsp;&nbsp;Mitsui Fudosan Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197600 | &nbsp;&nbsp;&nbsp;&nbsp; 1780103 |
| &nbsp;&nbsp;&nbsp;Nomura Real Estate Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12500 | &nbsp;&nbsp;&nbsp;&nbsp; 69695 |
| &nbsp;&nbsp;&nbsp;Shurgard Self Storage, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2922 | &nbsp;&nbsp;&nbsp;&nbsp; 116210 |
| &nbsp;&nbsp;&nbsp;Sun Hung Kai Properties, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13500 | &nbsp;&nbsp;&nbsp;&nbsp; 160796 |
| &nbsp;&nbsp;&nbsp;Swire Properties, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44000 | &nbsp;&nbsp;&nbsp;&nbsp; 118268 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3397995 |
| **REITS — 2.2%** | **REITS — 2.2%** | **REITS — 2.2%** |
| &nbsp;&nbsp;&nbsp;Acadia Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16763 | &nbsp;&nbsp;&nbsp;&nbsp; 313803 |
| &nbsp;&nbsp;&nbsp;Aedifica SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;965 | &nbsp;&nbsp;&nbsp;&nbsp; 71251 |
| &nbsp;&nbsp;&nbsp;Agree Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394 | &nbsp;&nbsp;&nbsp;&nbsp; 28250 |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939 | &nbsp;&nbsp;&nbsp;&nbsp; 71768 |
| &nbsp;&nbsp;&nbsp;American Homes 4 Rent, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13008 | &nbsp;&nbsp;&nbsp;&nbsp; 451248 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6805 | &nbsp;&nbsp;&nbsp;&nbsp; 1418094 |
| &nbsp;&nbsp;&nbsp;Annaly Capital Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47682 | &nbsp;&nbsp;&nbsp;&nbsp; 969375 |
| &nbsp;&nbsp;&nbsp;Apple Hospitality REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8096 | &nbsp;&nbsp;&nbsp;&nbsp; 95128 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3840 | &nbsp;&nbsp;&nbsp;&nbsp; 715315 |
| &nbsp;&nbsp;&nbsp;Big Yellow Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9125 | &nbsp;&nbsp;&nbsp;&nbsp; 112797 |
| &nbsp;&nbsp;&nbsp;Broadstone Net Lease, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665 | &nbsp;&nbsp;&nbsp;&nbsp; 10800 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1629 | &nbsp;&nbsp;&nbsp;&nbsp; 177887 |
| &nbsp;&nbsp;&nbsp;Canadian Apartment Properties REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3397 | &nbsp;&nbsp;&nbsp;&nbsp; 108485 |
| &nbsp;&nbsp;&nbsp;CapitaLand Integrated Commercial Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68629 | &nbsp;&nbsp;&nbsp;&nbsp; 116285 |
| &nbsp;&nbsp;&nbsp;Crown Castle, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3937 | &nbsp;&nbsp;&nbsp;&nbsp; 413739 |
| &nbsp;&nbsp;&nbsp;CubeSmart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12113 | &nbsp;&nbsp;&nbsp;&nbsp; 471317 |
| &nbsp;&nbsp;&nbsp;Digital Core REIT Management Pte, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79500 | &nbsp;&nbsp;&nbsp;&nbsp; 41738 |
| &nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2077 | &nbsp;&nbsp;&nbsp;&nbsp; 366466 |
| &nbsp;&nbsp;&nbsp;Douglas Emmett, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10947 | &nbsp;&nbsp;&nbsp;&nbsp; 165957 |
| &nbsp;&nbsp;&nbsp;EastGroup Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3064 | &nbsp;&nbsp;&nbsp;&nbsp; 500167 |
| &nbsp;&nbsp;&nbsp;EPR Properties | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;&nbsp; 14090 |
| &nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2423 | &nbsp;&nbsp;&nbsp;&nbsp; 1902467 |
| &nbsp;&nbsp;&nbsp;Equity LifeStyle Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5777 | &nbsp;&nbsp;&nbsp;&nbsp; 346158 |
| &nbsp;&nbsp;&nbsp;Equity Residential | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10020 | &nbsp;&nbsp;&nbsp;&nbsp; 633264 |
| &nbsp;&nbsp;&nbsp;Essential Properties Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;827 | &nbsp;&nbsp;&nbsp;&nbsp; 25215 |
| &nbsp;&nbsp;&nbsp;Essex Property Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7196 | &nbsp;&nbsp;&nbsp;&nbsp; 1872255 |
| &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1121 | &nbsp;&nbsp;&nbsp;&nbsp; 103311 |
| &nbsp;&nbsp;&nbsp;Gaming & Leisure Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3193 | &nbsp;&nbsp;&nbsp;&nbsp; 145537 |
| &nbsp;&nbsp;&nbsp;Goodman Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22054 | &nbsp;&nbsp;&nbsp;&nbsp; 498606 |
| &nbsp;&nbsp;&nbsp;Healthcare Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7559 | &nbsp;&nbsp;&nbsp;&nbsp; 116106 |
| &nbsp;&nbsp;&nbsp;Invincible Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;&nbsp;&nbsp; 84668 |
| &nbsp;&nbsp;&nbsp;Japan Prime Realty Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp; 92188 |
| &nbsp;&nbsp;&nbsp;Japan Real Estate Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107 | &nbsp;&nbsp;&nbsp;&nbsp; 87204 |
| &nbsp;&nbsp;&nbsp;Keppel DC REIT | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62700 | &nbsp;&nbsp;&nbsp;&nbsp; 114448 |
| &nbsp;&nbsp;&nbsp;Kilroy Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2592 | &nbsp;&nbsp;&nbsp;&nbsp; 95541 |
| &nbsp;&nbsp;&nbsp;Kimco Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8156 | &nbsp;&nbsp;&nbsp;&nbsp; 173152 |
| &nbsp;&nbsp;&nbsp;Lineage, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1511 | &nbsp;&nbsp;&nbsp;&nbsp; 65200 |
| &nbsp;&nbsp;&nbsp;Mirvac Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73475 | &nbsp;&nbsp;&nbsp;&nbsp; 106242 |
| &nbsp;&nbsp;&nbsp;Nexus Select Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43827 | &nbsp;&nbsp;&nbsp;&nbsp; 73426 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **REITS (continued)** | **REITS (continued)** | **REITS (continued)** |
| &nbsp;&nbsp;&nbsp;Nippon Prologis REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;$76391 |
| &nbsp;&nbsp;&nbsp;NNN REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;862 | &nbsp;&nbsp;&nbsp;&nbsp; 35566 |
| &nbsp;&nbsp;&nbsp;NTT DC REIT† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102900 | &nbsp;&nbsp;&nbsp;&nbsp; 96726 |
| &nbsp;&nbsp;&nbsp;Pebblebrook Hotel Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5347 | &nbsp;&nbsp;&nbsp;&nbsp; 53630 |
| &nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14505 | &nbsp;&nbsp;&nbsp;&nbsp; 1548844 |
| &nbsp;&nbsp;&nbsp;Public Storage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6037 | &nbsp;&nbsp;&nbsp;&nbsp; 1641702 |
| &nbsp;&nbsp;&nbsp;Rayonier, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5521 | &nbsp;&nbsp;&nbsp;&nbsp; 128695 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3364 | &nbsp;&nbsp;&nbsp;&nbsp; 188821 |
| &nbsp;&nbsp;&nbsp;Regency Centers Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10786 | &nbsp;&nbsp;&nbsp;&nbsp; 770120 |
| &nbsp;&nbsp;&nbsp;Rexford Industrial Realty, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20590 | &nbsp;&nbsp;&nbsp;&nbsp; 752153 |
| &nbsp;&nbsp;&nbsp;SBA Communications Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553 | &nbsp;&nbsp;&nbsp;&nbsp; 124270 |
| &nbsp;&nbsp;&nbsp;Scentre Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662035 | &nbsp;&nbsp;&nbsp;&nbsp; 1595463 |
| &nbsp;&nbsp;&nbsp;Segro PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96784 | &nbsp;&nbsp;&nbsp;&nbsp; 827492 |
| &nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5399 | &nbsp;&nbsp;&nbsp;&nbsp; 884302 |
| &nbsp;&nbsp;&nbsp;Smartstop Self Storage REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7118 | &nbsp;&nbsp;&nbsp;&nbsp; 241158 |
| &nbsp;&nbsp;&nbsp;Sun Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6041 | &nbsp;&nbsp;&nbsp;&nbsp; 749265 |
| &nbsp;&nbsp;&nbsp;Terreno Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7071 | &nbsp;&nbsp;&nbsp;&nbsp; 392370 |
| &nbsp;&nbsp;&nbsp;UNITE Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7562 | &nbsp;&nbsp;&nbsp;&nbsp; 74751 |
| &nbsp;&nbsp;&nbsp;Ventas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13104 | &nbsp;&nbsp;&nbsp;&nbsp; 880327 |
| &nbsp;&nbsp;&nbsp;VICI Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39420 | &nbsp;&nbsp;&nbsp;&nbsp; 1285092 |
| &nbsp;&nbsp;&nbsp;Vornado Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6053 | &nbsp;&nbsp;&nbsp;&nbsp; 232556 |
| &nbsp;&nbsp;&nbsp;Warehouses De Pauw CVA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8030 | &nbsp;&nbsp;&nbsp;&nbsp; 188042 |
| &nbsp;&nbsp;&nbsp;Welltower, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21391 | &nbsp;&nbsp;&nbsp;&nbsp; 3531012 |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3490 | &nbsp;&nbsp;&nbsp;&nbsp; 87425 |
| &nbsp;&nbsp;&nbsp;WP Carey, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001 | &nbsp;&nbsp;&nbsp;&nbsp; 64224 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29619345 |
| **Retail — 2.5%** | **Retail — 2.5%** | **Retail — 2.5%** |
| &nbsp;&nbsp;&nbsp;AutoZone, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;776 | &nbsp;&nbsp;&nbsp;&nbsp; 2924263 |
| &nbsp;&nbsp;&nbsp;Bath & Body Works, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1245 | &nbsp;&nbsp;&nbsp;&nbsp; 36055 |
| &nbsp;&nbsp;&nbsp;Carvana Co.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15460 | &nbsp;&nbsp;&nbsp;&nbsp; 6032028 |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32451 | &nbsp;&nbsp;&nbsp;&nbsp; 1391499 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1401 | &nbsp;&nbsp;&nbsp;&nbsp; 1316436 |
| &nbsp;&nbsp;&nbsp;Darden Restaurants, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432 | &nbsp;&nbsp;&nbsp;&nbsp; 87122 |
| &nbsp;&nbsp;&nbsp;Dollar Tree, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12495 | &nbsp;&nbsp;&nbsp;&nbsp; 1418807 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271 | &nbsp;&nbsp;&nbsp;&nbsp; 125530 |
| &nbsp;&nbsp;&nbsp;Ferguson Enterprises, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4480 | &nbsp;&nbsp;&nbsp;&nbsp; 1000518 |
| &nbsp;&nbsp;&nbsp;Home Depot, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9983 | &nbsp;&nbsp;&nbsp;&nbsp; 3668852 |
| &nbsp;&nbsp;&nbsp;Isetan Mitsukoshi Holdings, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87000 | &nbsp;&nbsp;&nbsp;&nbsp; 1243558 |
| &nbsp;&nbsp;&nbsp;Kingfisher PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438986 | &nbsp;&nbsp;&nbsp;&nbsp; 1568215 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1648 | &nbsp;&nbsp;&nbsp;&nbsp; 368443 |
| &nbsp;&nbsp;&nbsp;Lululemon Athletica, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792 | &nbsp;&nbsp;&nbsp;&nbsp; 158820 |
| &nbsp;&nbsp;&nbsp;McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11049 | &nbsp;&nbsp;&nbsp;&nbsp; 3315473 |
| &nbsp;&nbsp;&nbsp;Moncler SpA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20419 | &nbsp;&nbsp;&nbsp;&nbsp; 1093803 |
| &nbsp;&nbsp;&nbsp;Next PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12319 | &nbsp;&nbsp;&nbsp;&nbsp; 2002724 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3821 | &nbsp;&nbsp;&nbsp;&nbsp; 375681 |
| &nbsp;&nbsp;&nbsp;Ross Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16748 | &nbsp;&nbsp;&nbsp;&nbsp; 2286772 |
| &nbsp;&nbsp;&nbsp;TJX Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8474 | &nbsp;&nbsp;&nbsp;&nbsp; 1055267 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253 | &nbsp;&nbsp;&nbsp;&nbsp; 130298 |
| &nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30373 | &nbsp;&nbsp;&nbsp;&nbsp; 2975947 |
| &nbsp;&nbsp;&nbsp;Wingstop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313 | &nbsp;&nbsp;&nbsp;&nbsp; 118107 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34694218 |
| **Semiconductors — 6.1%** | **Semiconductors — 6.1%** | **Semiconductors — 6.1%** |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7450 | &nbsp;&nbsp;&nbsp;&nbsp; 1313510 |
| &nbsp;&nbsp;&nbsp;Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8570 | &nbsp;&nbsp;&nbsp;&nbsp; 1925079 |
| &nbsp;&nbsp;&nbsp;Applied Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2437 | &nbsp;&nbsp;&nbsp;&nbsp; 438806 |
| &nbsp;&nbsp;&nbsp;ASML Holding NV (NASDAQ) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1736 | &nbsp;&nbsp;&nbsp;&nbsp; 1206017 |
| &nbsp;&nbsp;&nbsp;ASML Holding NV (XAMS) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5363 | &nbsp;&nbsp;&nbsp;&nbsp; 3752327 |
| &nbsp;&nbsp;&nbsp;BE Semiconductor Industries NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5616 | &nbsp;&nbsp;&nbsp;&nbsp; 763309 |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42060 | &nbsp;&nbsp;&nbsp;&nbsp; 12353022 |
| &nbsp;&nbsp;&nbsp;Hamamatsu Photonics KK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42800 | &nbsp;&nbsp;&nbsp;&nbsp; 525492 |
| &nbsp;&nbsp;&nbsp;Intel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31972 | &nbsp;&nbsp;&nbsp;&nbsp; 633046 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Semiconductors (continued)** | **Semiconductors (continued)** | **Semiconductors (continued)** |
| &nbsp;&nbsp;&nbsp;KLA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1971 | &nbsp;&nbsp;$1732568 |
| &nbsp;&nbsp;&nbsp;Lam Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3982 | &nbsp;&nbsp;&nbsp;&nbsp; 377653 |
| &nbsp;&nbsp;&nbsp;Marvell Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2668 | &nbsp;&nbsp;&nbsp;&nbsp; 214427 |
| &nbsp;&nbsp;&nbsp;Microchip Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1455 | &nbsp;&nbsp;&nbsp;&nbsp; 98343 |
| &nbsp;&nbsp;&nbsp;Monolithic Power Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1603 | &nbsp;&nbsp;&nbsp;&nbsp; 1140118 |
| &nbsp;&nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228085 | &nbsp;&nbsp;&nbsp;&nbsp; 40569479 |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8252 | &nbsp;&nbsp;&nbsp;&nbsp; 1764030 |
| &nbsp;&nbsp;&nbsp;QUALCOMM, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4349 | &nbsp;&nbsp;&nbsp;&nbsp; 638259 |
| &nbsp;&nbsp;&nbsp;Renesas Electronics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60500 | &nbsp;&nbsp;&nbsp;&nbsp; 748627 |
| &nbsp;&nbsp;&nbsp;Samsung Electronics Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36003 | &nbsp;&nbsp;&nbsp;&nbsp; 1853630 |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co., Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155000 | &nbsp;&nbsp;&nbsp;&nbsp; 6023955 |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing Co., Ltd. ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3671 | &nbsp;&nbsp;&nbsp;&nbsp; 886987 |
| &nbsp;&nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17196 | &nbsp;&nbsp;&nbsp;&nbsp; 3113508 |
| &nbsp;&nbsp;&nbsp;Tokyo Electron, Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp; 1667347 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83739539 |
| **Software — 4.3%** | **Software — 4.3%** | **Software — 4.3%** |
| &nbsp;&nbsp;&nbsp;Adobe, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1241 | &nbsp;&nbsp;&nbsp;&nbsp; 443893 |
| &nbsp;&nbsp;&nbsp;Autodesk, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728 | &nbsp;&nbsp;&nbsp;&nbsp; 220664 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1328 | &nbsp;&nbsp;&nbsp;&nbsp; 484149 |
| &nbsp;&nbsp;&nbsp;Confluent, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4397 | &nbsp;&nbsp;&nbsp;&nbsp; 77937 |
| &nbsp;&nbsp;&nbsp;Datadog, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1696 | &nbsp;&nbsp;&nbsp;&nbsp; 237406 |
| &nbsp;&nbsp;&nbsp;Dayforce, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1935 | &nbsp;&nbsp;&nbsp;&nbsp; 111591 |
| &nbsp;&nbsp;&nbsp;Descartes Systems Group, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1872 | &nbsp;&nbsp;&nbsp;&nbsp; 197983 |
| &nbsp;&nbsp;&nbsp;Electronic Arts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735 | &nbsp;&nbsp;&nbsp;&nbsp; 112080 |
| &nbsp;&nbsp;&nbsp;Fair Isaac Corp.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129 | &nbsp;&nbsp;&nbsp;&nbsp; 185337 |
| &nbsp;&nbsp;&nbsp;Fiserv, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5361 | &nbsp;&nbsp;&nbsp;&nbsp; 744857 |
| &nbsp;&nbsp;&nbsp;HubSpot, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp;&nbsp; 9354 |
| &nbsp;&nbsp;&nbsp;Intuit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2546 | &nbsp;&nbsp;&nbsp;&nbsp; 1998941 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74387 | &nbsp;&nbsp;&nbsp;&nbsp; 39685465 |
| &nbsp;&nbsp;&nbsp;Monday.com, Ltd.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87 | &nbsp;&nbsp;&nbsp;&nbsp; 22819 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5509 | &nbsp;&nbsp;&nbsp;&nbsp; 1398019 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7186 | &nbsp;&nbsp;&nbsp;&nbsp; 1137903 |
| &nbsp;&nbsp;&nbsp;Roper Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2004 | &nbsp;&nbsp;&nbsp;&nbsp; 1103002 |
| &nbsp;&nbsp;&nbsp;Salesforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4532 | &nbsp;&nbsp;&nbsp;&nbsp; 1170752 |
| &nbsp;&nbsp;&nbsp;SAP SE | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15243 | &nbsp;&nbsp;&nbsp;&nbsp; 4362742 |
| &nbsp;&nbsp;&nbsp;ServiceNow, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3961 | &nbsp;&nbsp;&nbsp;&nbsp; 3735698 |
| &nbsp;&nbsp;&nbsp;SS&C Technologies Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882 | &nbsp;&nbsp;&nbsp;&nbsp; 75393 |
| &nbsp;&nbsp;&nbsp;Synopsys, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2949 | &nbsp;&nbsp;&nbsp;&nbsp; 1868103 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431 | &nbsp;&nbsp;&nbsp;&nbsp; 95997 |
| &nbsp;&nbsp;&nbsp;Workday, Inc., Class A† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343 | &nbsp;&nbsp;&nbsp;&nbsp; 78677 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59558762 |
| **Telecommunications — 0.9%** | **Telecommunications — 0.9%** | **Telecommunications — 0.9%** |
| &nbsp;&nbsp;&nbsp;Arista Networks, Inc.† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4130 | &nbsp;&nbsp;&nbsp;&nbsp; 508899 |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13223 | &nbsp;&nbsp;&nbsp;&nbsp; 362442 |
| &nbsp;&nbsp;&nbsp;BT Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;688681 | &nbsp;&nbsp;&nbsp;&nbsp; 1883588 |
| &nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9818 | &nbsp;&nbsp;&nbsp;&nbsp; 668410 |
| &nbsp;&nbsp;&nbsp;KDDI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101800 | &nbsp;&nbsp;&nbsp;&nbsp; 1677877 |
| &nbsp;&nbsp;&nbsp;KT Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35552 | &nbsp;&nbsp;&nbsp;&nbsp; 1415107 |
| &nbsp;&nbsp;&nbsp;Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158865 | &nbsp;&nbsp;&nbsp;&nbsp; 1157742 |
| &nbsp;&nbsp;&nbsp;T-Mobile US, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18366 | &nbsp;&nbsp;&nbsp;&nbsp; 4378638 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12052703 |
| **Transportation — 0.4%** | **Transportation — 0.4%** | **Transportation — 0.4%** |
| &nbsp;&nbsp;&nbsp;Canadian National Railway Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2345 | &nbsp;&nbsp;&nbsp;&nbsp; 219140 |
| &nbsp;&nbsp;&nbsp;CSX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9542 | &nbsp;&nbsp;&nbsp;&nbsp; 339123 |
| &nbsp;&nbsp;&nbsp;FedEx Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229 | &nbsp;&nbsp;&nbsp;&nbsp; 51179 |
| &nbsp;&nbsp;&nbsp;Kyushu Railway Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp; 116499 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7389 | &nbsp;&nbsp;&nbsp;&nbsp; 2054142 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Transportation (continued)** | **Transportation (continued)** | **Transportation (continued)** |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line, Inc. | &nbsp;&nbsp; 14427 | &nbsp;&nbsp;$2153230 |
| &nbsp;&nbsp;&nbsp;Saia, Inc.† | &nbsp;&nbsp; 793 | &nbsp;&nbsp;&nbsp;&nbsp; 239676 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5172989 |
| **Water — 0.1%** | **Water — 0.1%** | **Water — 0.1%** |
| &nbsp;&nbsp;&nbsp;American Water Works Co., Inc. | &nbsp;&nbsp; 6087 | &nbsp;&nbsp;&nbsp;&nbsp; 853641 |
| **Total Common Stocks<br> (cost $598,066,442)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;809054422 |
| **PREFERRED STOCKS — 0.0%** | **PREFERRED STOCKS — 0.0%** | **PREFERRED STOCKS — 0.0%** |
| **Diversified Financial Services — 0.0%** | **Diversified Financial Services — 0.0%** | **Diversified Financial Services — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Osaic Financial Services, Inc.<br> 6.50%<br> (cost $397,838) | &nbsp;&nbsp; 22999 | &nbsp;&nbsp;&nbsp;&nbsp; 484589 |
| **CONVERTIBLE PREFERRED STOCKS — 0.1%** | **CONVERTIBLE PREFERRED STOCKS — 0.1%** | **CONVERTIBLE PREFERRED STOCKS — 0.1%** |
| **Agriculture — 0.0%** | **Agriculture — 0.0%** | **Agriculture — 0.0%** |
| &nbsp;&nbsp;&nbsp;Farmer's Business Network, Inc.<br> Series D†(1)(2) | &nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Commercial Services — 0.0%** | **Commercial Services — 0.0%** | **Commercial Services — 0.0%** |
| &nbsp;&nbsp;&nbsp;Gusto, Inc.<br> Series E†(1)(2) | &nbsp;&nbsp; 3216 | &nbsp;&nbsp;&nbsp;&nbsp; 82008 |
| **Computer Graphics — 0.0%** | **Computer Graphics — 0.0%** | **Computer Graphics — 0.0%** |
| &nbsp;&nbsp;&nbsp;Canva, Inc.<br> Series A†(1)(2) | &nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 11000 |
| **Mining — 0.0%** | **Mining — 0.0%** | **Mining — 0.0%** |
| &nbsp;&nbsp;&nbsp;Lilac Solutions, Inc.<br> Series B†(1)(2) | &nbsp;&nbsp; 4155 | &nbsp;&nbsp;&nbsp;&nbsp; 38600 |
| **Software — 0.1%** | **Software — 0.1%** | **Software — 0.1%** |
| &nbsp;&nbsp;&nbsp;Databricks, Inc.<br> Series G †(1)(2) | &nbsp;&nbsp; 1206 | &nbsp;&nbsp;&nbsp;&nbsp; 125056 |
| &nbsp;&nbsp;&nbsp;Databricks, Inc.<br> Series H†(1)(2) | &nbsp;&nbsp; 2613 | &nbsp;&nbsp;&nbsp;&nbsp; 270955 |
| &nbsp;&nbsp;&nbsp;KoBold Metals Co.(1)(2) | &nbsp;&nbsp; 3900 | &nbsp;&nbsp;&nbsp;&nbsp; 331316 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;727327 |
| **Total Convertible Preferred Stocks<br> (cost $538,923)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858935 |
| **CORPORATE BONDS & NOTES — 9.7%** | **CORPORATE BONDS & NOTES — 9.7%** | **CORPORATE BONDS & NOTES — 9.7%** |
| **Advertising — 0.0%** | **Advertising — 0.0%** | **Advertising — 0.0%** |
| &nbsp;&nbsp;&nbsp;Omnicom Group, Inc./Omnicom Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 04/15/2026 | $40000 | &nbsp;&nbsp;&nbsp;&nbsp; 39706 |
| **Aerospace/Defense — 0.1%** | **Aerospace/Defense — 0.1%** | **Aerospace/Defense — 0.1%** |
| &nbsp;&nbsp;&nbsp;AAR Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 03/15/2029\* | &nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 471987 |
| &nbsp;&nbsp;&nbsp;Bombardier, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 07/01/2031\* | &nbsp;&nbsp; 455000 | &nbsp;&nbsp;&nbsp;&nbsp; 475114 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 01/15/2026 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 199161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 05/15/2036 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 191353 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1337615 |
| **Agriculture — 0.0%** | **Agriculture — 0.0%** | **Agriculture — 0.0%** |
| &nbsp;&nbsp;&nbsp;BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.83%, 02/20/2031 | &nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp; 256578 |
| **Airlines — 0.2%** | **Airlines — 0.2%** | **Airlines — 0.2%** |
| &nbsp;&nbsp;&nbsp;American Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 08/15/2033 | &nbsp;&nbsp; 495524 | &nbsp;&nbsp;&nbsp;&nbsp; 454732 |
| &nbsp;&nbsp;&nbsp;Avianca Midco 2 PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.63%, 02/14/2030\* | &nbsp;&nbsp; 415000 | &nbsp;&nbsp;&nbsp;&nbsp; 385950 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Airlines (continued)** | **Airlines (continued)** | **Airlines (continued)** |
| &nbsp;&nbsp;&nbsp;JetBlue Airways Corp./JetBlue Loyalty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.88%, 09/20/2031\* | $530000 | &nbsp;&nbsp;$512431 |
| &nbsp;&nbsp;&nbsp;Latam Airlines Group SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.63%, 01/07/2031\* | &nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp; 165040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 04/15/2030\* | &nbsp;&nbsp; 555000 | &nbsp;&nbsp;&nbsp;&nbsp; 574147 |
| &nbsp;&nbsp;&nbsp;OneSky Flight LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.88%, 12/15/2029\* | &nbsp;&nbsp; 455000 | &nbsp;&nbsp;&nbsp;&nbsp; 479364 |
| &nbsp;&nbsp;&nbsp;United Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 04/07/2030 | &nbsp;&nbsp; 243213 | &nbsp;&nbsp;&nbsp;&nbsp; 226603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 02/25/2033 | &nbsp;&nbsp; 259745 | &nbsp;&nbsp;&nbsp;&nbsp; 247720 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3045987 |
| **Auto Manufacturers — 0.4%** | **Auto Manufacturers — 0.4%** | **Auto Manufacturers — 0.4%** |
| &nbsp;&nbsp;&nbsp;American Honda Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.55%, 07/09/2027 | &nbsp;&nbsp; 610000 | &nbsp;&nbsp;&nbsp;&nbsp; 611379 |
| &nbsp;&nbsp;&nbsp;Aston Martin Capital Holdings, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.00%, 03/31/2029\* | &nbsp;&nbsp; 620000 | &nbsp;&nbsp;&nbsp;&nbsp; 591330 |
| &nbsp;&nbsp;&nbsp;Daimler Truck Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 04/07/2027\* | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 640260 |
| &nbsp;&nbsp;&nbsp;Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 11/05/2026 | &nbsp;&nbsp; 355000 | &nbsp;&nbsp;&nbsp;&nbsp; 354006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.12%, 11/07/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207959 |
| &nbsp;&nbsp;&nbsp;General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55%, 07/15/2029 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 122599 |
| &nbsp;&nbsp;&nbsp;Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.65%, 09/17/2026\* | &nbsp;&nbsp; 1145000 | &nbsp;&nbsp;&nbsp;&nbsp; 1107128 |
| &nbsp;&nbsp;&nbsp;Mercedes-Benz Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 03/30/2026\* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 475851 |
| &nbsp;&nbsp;&nbsp;PACCAR Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.20%, 11/09/2026 | &nbsp;&nbsp; 880000 | &nbsp;&nbsp;&nbsp;&nbsp; 890466 |
| &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 01/05/2026 | &nbsp;&nbsp; 890000 | &nbsp;&nbsp;&nbsp;&nbsp; 891232 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5892210 |
| **Auto Parts & Equipment — 0.0%** | **Auto Parts & Equipment — 0.0%** | **Auto Parts & Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp;Clarios Global LP/Clarios US Finance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 02/15/2030\* | &nbsp;&nbsp; 172000 | &nbsp;&nbsp;&nbsp;&nbsp; 177337 |
| **Banks — 1.3%** | **Banks — 1.3%** | **Banks — 1.3%** |
| &nbsp;&nbsp;&nbsp;Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.49%, 05/28/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 189504 |
| &nbsp;&nbsp;&nbsp;Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30%, 07/21/2032 | &nbsp;&nbsp; 665000 | &nbsp;&nbsp;&nbsp;&nbsp; 579624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.59%, 04/29/2031 | &nbsp;&nbsp; 405000 | &nbsp;&nbsp;&nbsp;&nbsp; 370220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.68%, 06/19/2041 | &nbsp;&nbsp; 960000 | &nbsp;&nbsp;&nbsp;&nbsp; 684512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 04/19/2026 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 148974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 03/03/2026 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 349639 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.47%, 10/25/2034 | &nbsp;&nbsp; 590000 | &nbsp;&nbsp;&nbsp;&nbsp; 649917 |
| &nbsp;&nbsp;&nbsp;Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.67%, 03/12/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 203306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.69%, 03/12/2030 | &nbsp;&nbsp; 535000 | &nbsp;&nbsp;&nbsp;&nbsp; 552188 |
| &nbsp;&nbsp;&nbsp;BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 09/10/2029 | &nbsp;&nbsp; 355000 | &nbsp;&nbsp;&nbsp;&nbsp; 361291 |
| &nbsp;&nbsp;&nbsp;BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 05/20/2030\* | &nbsp;&nbsp; 545000 | &nbsp;&nbsp;&nbsp;&nbsp; 559678 |
| &nbsp;&nbsp;&nbsp;BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 04/01/2026\* | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 399962 |
| &nbsp;&nbsp;&nbsp;Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.89%, 01/10/2028 | &nbsp;&nbsp; 505000 | &nbsp;&nbsp;&nbsp;&nbsp; 499833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 03/09/2026 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 174927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.17%, 05/25/2034 | &nbsp;&nbsp; 205000 | &nbsp;&nbsp;&nbsp;&nbsp; 214381 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;Danske Bank A/S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.71%, 03/01/2030\* | $200000 | &nbsp;&nbsp;$206976 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 09/06/2030 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 171492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.34%, 07/27/2029 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 152393 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.91%, 07/21/2042 | &nbsp;&nbsp; 505000 | &nbsp;&nbsp;&nbsp;&nbsp; 360781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 03/15/2030 | &nbsp;&nbsp; 705000 | &nbsp;&nbsp;&nbsp;&nbsp; 685919 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.72%, 03/04/2035 | &nbsp;&nbsp; 410000 | &nbsp;&nbsp;&nbsp;&nbsp; 426602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.33%, 03/09/2044 | &nbsp;&nbsp; 335000 | &nbsp;&nbsp;&nbsp;&nbsp; 357686 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 06/15/2026 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 198009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.78%, 02/01/2028 | &nbsp;&nbsp; 445000 | &nbsp;&nbsp;&nbsp;&nbsp; 440214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 01/23/2049 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp;&nbsp;&nbsp; 411607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 10/01/2027 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 25014 |
| &nbsp;&nbsp;&nbsp;Manufacturers & Traders Trust Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.76%, 07/06/2028 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 251025 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 07/27/2026 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 543112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.22%, 04/22/2042 | &nbsp;&nbsp; 970000 | &nbsp;&nbsp;&nbsp;&nbsp; 736402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 01/27/2045 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 21300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.66%, 04/18/2030 | &nbsp;&nbsp; 855000 | &nbsp;&nbsp;&nbsp;&nbsp; 885977 |
| &nbsp;&nbsp;&nbsp;Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.49%, 01/06/2028 | &nbsp;&nbsp; 535000 | &nbsp;&nbsp;&nbsp;&nbsp; 518442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.34%, 05/31/2035 | &nbsp;&nbsp; 215000 | &nbsp;&nbsp;&nbsp;&nbsp; 226040 |
| &nbsp;&nbsp;&nbsp;Santander UK Group Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.47%, 01/11/2028 | &nbsp;&nbsp; 485000 | &nbsp;&nbsp;&nbsp;&nbsp; 469508 |
| &nbsp;&nbsp;&nbsp;Skandinaviska Enskilda Banken AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.13%, 03/05/2027\* | &nbsp;&nbsp; 845000 | &nbsp;&nbsp;&nbsp;&nbsp; 855398 |
| &nbsp;&nbsp;&nbsp;Standard Chartered PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.61%, 01/12/2028\* | &nbsp;&nbsp; 545000 | &nbsp;&nbsp;&nbsp;&nbsp; 529436 |
| &nbsp;&nbsp;&nbsp;State Street Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.16%, 05/18/2034 | &nbsp;&nbsp; 585000 | &nbsp;&nbsp;&nbsp;&nbsp; 595809 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.99%, 04/05/2029 | &nbsp;&nbsp; 835000 | &nbsp;&nbsp;&nbsp;&nbsp; 850265 |
| &nbsp;&nbsp;&nbsp;UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.36%, 01/30/2027\* | &nbsp;&nbsp; 340000 | &nbsp;&nbsp;&nbsp;&nbsp; 334415 |
| &nbsp;&nbsp;&nbsp;Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.39%, 06/02/2028 | &nbsp;&nbsp; 335000 | &nbsp;&nbsp;&nbsp;&nbsp; 322534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.07%, 04/30/2041 | &nbsp;&nbsp; 720000 | &nbsp;&nbsp;&nbsp;&nbsp; 542994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.56%, 07/25/2034 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 464362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.30%, 10/23/2029 | &nbsp;&nbsp; 560000 | &nbsp;&nbsp;&nbsp;&nbsp; 589272 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18110940 |
| **Beverages — 0.0%** | **Beverages — 0.0%** | **Beverages — 0.0%** |
| &nbsp;&nbsp;&nbsp;Diageo Capital PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38%, 09/29/2025 | &nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp;&nbsp; 263592 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.55%, 09/15/2026 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 137116 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400708 |
| **Building Materials — 0.1%** | **Building Materials — 0.1%** | **Building Materials — 0.1%** |
| &nbsp;&nbsp;&nbsp;CRH America Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 01/09/2035 | &nbsp;&nbsp; 860000 | &nbsp;&nbsp;&nbsp;&nbsp; 879065 |
| &nbsp;&nbsp;&nbsp;Owens Corning |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 06/15/2034 | &nbsp;&nbsp; 295000 | &nbsp;&nbsp;&nbsp;&nbsp; 306272 |
| &nbsp;&nbsp;&nbsp;Quikrete Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 03/01/2033\* | &nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 471787 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1657124 |
| **Chemicals — 0.1%** | **Chemicals — 0.1%** | **Chemicals — 0.1%** |
| &nbsp;&nbsp;&nbsp;Air Products & Chemicals, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 10/15/2025 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49695 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| &nbsp;&nbsp;&nbsp;Celanese US Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 04/15/2033 | $540000 | &nbsp;&nbsp;$544637 |
| &nbsp;&nbsp;&nbsp;Ecolab, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 08/18/2055 | &nbsp;&nbsp; 830000 | &nbsp;&nbsp;&nbsp;&nbsp; 488537 |
| &nbsp;&nbsp;&nbsp;Nutrien, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 12/15/2026 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 109156 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1192025 |
| **Commercial Services — 0.3%** | **Commercial Services — 0.3%** | **Commercial Services — 0.3%** |
| &nbsp;&nbsp;&nbsp;Avis Budget Car Rental LLC/Avis Budget Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 01/15/2030\* | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 720325 |
| &nbsp;&nbsp;&nbsp;Deluxe Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.13%, 09/15/2029\* | &nbsp;&nbsp; 470000 | &nbsp;&nbsp;&nbsp;&nbsp; 483859 |
| &nbsp;&nbsp;&nbsp;Experian Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.75%, 03/08/2030\* | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp; 788791 |
| &nbsp;&nbsp;&nbsp;George Washington University |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.55%, 09/15/2046 | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 32887 |
| &nbsp;&nbsp;&nbsp;Hertz Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.63%, 07/15/2029\* | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 261183 |
| &nbsp;&nbsp;&nbsp;RELX Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 05/22/2030 | &nbsp;&nbsp; 480000 | &nbsp;&nbsp;&nbsp;&nbsp; 450955 |
| &nbsp;&nbsp;&nbsp;TR Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35%, 05/15/2026 | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp; 29642 |
| &nbsp;&nbsp;&nbsp;Transurban Finance Co. Pty., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.45%, 03/16/2031\* | &nbsp;&nbsp; 465000 | &nbsp;&nbsp;&nbsp;&nbsp; 412399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 03/22/2027\* | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 88497 |
| &nbsp;&nbsp;&nbsp;Williams Scotsman, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 10/01/2031\* | &nbsp;&nbsp; 683000 | &nbsp;&nbsp;&nbsp;&nbsp; 712999 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3981537 |
| **Computers — 0.1%** | **Computers — 0.1%** | **Computers — 0.1%** |
| &nbsp;&nbsp;&nbsp;Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 02/23/2026 | &nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp;&nbsp; 263503 |
| &nbsp;&nbsp;&nbsp;Dell International LLC/EMC Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.35%, 07/15/2046 | &nbsp;&nbsp; 158000 | &nbsp;&nbsp;&nbsp;&nbsp; 200937 |
| &nbsp;&nbsp;&nbsp;McAfee Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 02/15/2030\* | &nbsp;&nbsp; 420000 | &nbsp;&nbsp;&nbsp;&nbsp; 389419 |
| &nbsp;&nbsp;&nbsp;NCR Atleos Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.50%, 04/01/2029\* | &nbsp;&nbsp; 435000 | &nbsp;&nbsp;&nbsp;&nbsp; 471260 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1325119 |
| **Cosmetics/Personal Care — 0.1%** | **Cosmetics/Personal Care — 0.1%** | **Cosmetics/Personal Care — 0.1%** |
| &nbsp;&nbsp;&nbsp;Perrigo Finance Unlimited Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90%, 06/15/2030 | &nbsp;&nbsp; 815000 | &nbsp;&nbsp;&nbsp;&nbsp; 794702 |
| **Distribution/Wholesale — 0.0%** | **Distribution/Wholesale — 0.0%** | **Distribution/Wholesale — 0.0%** |
| &nbsp;&nbsp;&nbsp;Ritchie Bros. Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 03/15/2031\* | &nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 230558 |
| **Diversified Financial Services — 0.5%** | **Diversified Financial Services — 0.5%** | **Diversified Financial Services — 0.5%** |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 09/15/2026 | &nbsp;&nbsp; 285000 | &nbsp;&nbsp;&nbsp;&nbsp; 280360 |
| &nbsp;&nbsp;&nbsp;Aretec Escrow Issuer 2, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.00%, 08/15/2030\* | &nbsp;&nbsp; 861000 | &nbsp;&nbsp;&nbsp;&nbsp; 938851 |
| &nbsp;&nbsp;&nbsp;Bread Financial Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.38%, 06/15/2035\* | &nbsp;&nbsp; 510000 | &nbsp;&nbsp;&nbsp;&nbsp; 526798 |
| &nbsp;&nbsp;&nbsp;Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.65%, 05/11/2027 | &nbsp;&nbsp; 815000 | &nbsp;&nbsp;&nbsp;&nbsp; 803676 |
| &nbsp;&nbsp;&nbsp;Enact Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 05/28/2029 | &nbsp;&nbsp; 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 98155 |
| &nbsp;&nbsp;&nbsp;Encore Capital Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.25%, 04/01/2029\* | &nbsp;&nbsp; 440000 | &nbsp;&nbsp;&nbsp;&nbsp; 463426 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 06/15/2031 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 464755 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| &nbsp;&nbsp;&nbsp;OneMain Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 03/15/2030 | $455000 | &nbsp;&nbsp;$478961 |
| &nbsp;&nbsp;&nbsp;Osaic Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 08/01/2032\* | &nbsp;&nbsp; 195000 | &nbsp;&nbsp;&nbsp;&nbsp; 197352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.75%, 08/01/2027\* | &nbsp;&nbsp; 915000 | &nbsp;&nbsp;&nbsp;&nbsp; 915000 |
| &nbsp;&nbsp;&nbsp;PRA Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.88%, 01/31/2030\* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 467347 |
| &nbsp;&nbsp;&nbsp;Rfna LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 02/15/2030\* | &nbsp;&nbsp; 520000 | &nbsp;&nbsp;&nbsp;&nbsp; 528184 |
| &nbsp;&nbsp;&nbsp;Visa, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.15%, 12/14/2035 | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 85117 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6247982 |
| **Electric — 0.5%** | **Electric — 0.5%** | **Electric — 0.5%** |
| &nbsp;&nbsp;&nbsp;AEP Texas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.45%, 01/15/2050 | &nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 312284 |
| &nbsp;&nbsp;&nbsp;Ameren Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 12/01/2026 | &nbsp;&nbsp; 555000 | &nbsp;&nbsp;&nbsp;&nbsp; 562504 |
| &nbsp;&nbsp;&nbsp;CMS Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 05/15/2026 | &nbsp;&nbsp; 195000 | &nbsp;&nbsp;&nbsp;&nbsp; 192765 |
| &nbsp;&nbsp;&nbsp;DTE Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 03/01/2029 | &nbsp;&nbsp; 780000 | &nbsp;&nbsp;&nbsp;&nbsp; 793618 |
| &nbsp;&nbsp;&nbsp;Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 09/01/2026 | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 44085 |
| &nbsp;&nbsp;&nbsp;Edison International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 06/15/2054 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 124606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.13%, 06/15/2053 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 367716 |
| &nbsp;&nbsp;&nbsp;Exelon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.40%, 04/15/2026 | &nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp; 242850 |
| &nbsp;&nbsp;&nbsp;FirstEnergy Transmission LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/15/2035 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 222458 |
| &nbsp;&nbsp;&nbsp;Florida Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 12/04/2051 | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp; 533161 |
| &nbsp;&nbsp;&nbsp;New York State Electric & Gas Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.30%, 08/15/2034\* | &nbsp;&nbsp; 305000 | &nbsp;&nbsp;&nbsp;&nbsp; 308760 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 09/01/2025 | &nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 210131 |
| &nbsp;&nbsp;&nbsp;NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.25%, 03/15/2028\*(3) | &nbsp;&nbsp; 424000 | &nbsp;&nbsp;&nbsp;&nbsp; 466704 |
| &nbsp;&nbsp;&nbsp;Ohio Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.60%, 03/01/2033 | &nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 275409 |
| &nbsp;&nbsp;&nbsp;Pacific Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10%, 08/01/2027 | &nbsp;&nbsp; 445000 | &nbsp;&nbsp;&nbsp;&nbsp; 422550 |
| &nbsp;&nbsp;&nbsp;Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 06/01/2029 | &nbsp;&nbsp; 605000 | &nbsp;&nbsp;&nbsp;&nbsp; 610543 |
| &nbsp;&nbsp;&nbsp;Southern Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.70%, 03/15/2034 | &nbsp;&nbsp; 725000 | &nbsp;&nbsp;&nbsp;&nbsp; 754679 |
| &nbsp;&nbsp;&nbsp;Talen Energy Supply LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.63%, 06/01/2030\* | &nbsp;&nbsp; 420000 | &nbsp;&nbsp;&nbsp;&nbsp; 446321 |
| &nbsp;&nbsp;&nbsp;Vistra Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 10/15/2026\*(3) | &nbsp;&nbsp; 458000 | &nbsp;&nbsp;&nbsp;&nbsp; 467488 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7358632 |
| **Electronics — 0.0%** | **Electronics — 0.0%** | **Electronics — 0.0%** |
| &nbsp;&nbsp;&nbsp;Amphenol Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 03/30/2026 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 75105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 04/05/2029 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp; 276236 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351341 |
| **Entertainment — 0.1%** | **Entertainment — 0.1%** | **Entertainment — 0.1%** |
| &nbsp;&nbsp;&nbsp;Odeon Finco PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.75%, 11/01/2027\* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 494990 |
| &nbsp;&nbsp;&nbsp;Six Flags Entertainment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 05/15/2031\* | &nbsp;&nbsp; 909000 | &nbsp;&nbsp;&nbsp;&nbsp; 926432 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Entertainment (continued)** | **Entertainment (continued)** | **Entertainment (continued)** |
| &nbsp;&nbsp;&nbsp;Voyager Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.25%, 07/01/2032\* | $520000 | &nbsp;&nbsp;$550079 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1971501 |
| **Food — 0.1%** | **Food — 0.1%** | **Food — 0.1%** |
| &nbsp;&nbsp;&nbsp;Kroger Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 09/15/2034 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 173110 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 02/20/2029 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 911791 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1084901 |
| **Gas — 0.1%** | **Gas — 0.1%** | **Gas — 0.1%** |
| &nbsp;&nbsp;&nbsp;APA Infrastructure, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 07/15/2027\* | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 238425 |
| &nbsp;&nbsp;&nbsp;Boston Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.84%, 01/10/2035\* | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 72846 |
| &nbsp;&nbsp;&nbsp;NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.49%, 05/15/2027 | &nbsp;&nbsp; 620000 | &nbsp;&nbsp;&nbsp;&nbsp; 609087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 03/30/2048 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 325263 |
| &nbsp;&nbsp;&nbsp;Souther Co. Gas Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 09/15/2034 | &nbsp;&nbsp; 430000 | &nbsp;&nbsp;&nbsp;&nbsp; 425347 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1670968 |
| **Healthcare-Products — 0.2%** | **Healthcare-Products — 0.2%** | **Healthcare-Products — 0.2%** |
| &nbsp;&nbsp;&nbsp;Alcon Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60%, 05/27/2030\* | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1009073 |
| &nbsp;&nbsp;&nbsp;Medtronic, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 03/15/2045 | &nbsp;&nbsp; 22000 | &nbsp;&nbsp;&nbsp;&nbsp; 19691 |
| &nbsp;&nbsp;&nbsp;Revvity, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.90%, 09/15/2028 | &nbsp;&nbsp; 595000 | &nbsp;&nbsp;&nbsp;&nbsp; 548181 |
| &nbsp;&nbsp;&nbsp;Solventum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 03/01/2029 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 514420 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.80%, 10/15/2041 | &nbsp;&nbsp; 420000 | &nbsp;&nbsp;&nbsp;&nbsp; 301662 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2393027 |
| **Healthcare-Services — 0.6%** | **Healthcare-Services — 0.6%** | **Healthcare-Services — 0.6%** |
| &nbsp;&nbsp;&nbsp;Banner Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.90%, 01/01/2031 | &nbsp;&nbsp; 215000 | &nbsp;&nbsp;&nbsp;&nbsp; 188017 |
| &nbsp;&nbsp;&nbsp;Baylor Scott & White Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.97%, 11/15/2046 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 79084 |
| &nbsp;&nbsp;&nbsp;Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 02/15/2030 | &nbsp;&nbsp; 580000 | &nbsp;&nbsp;&nbsp;&nbsp; 522202 |
| &nbsp;&nbsp;&nbsp;Centra Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 01/01/2048 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 720169 |
| &nbsp;&nbsp;&nbsp;CHS/Community Health Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.88%, 01/15/2032\* | &nbsp;&nbsp; 455000 | &nbsp;&nbsp;&nbsp;&nbsp; 477014 |
| &nbsp;&nbsp;&nbsp;CommonSpirit Health |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.78%, 10/01/2030 | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 218837 |
| &nbsp;&nbsp;&nbsp;HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 06/15/2029 | &nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp; 563610 |
| &nbsp;&nbsp;&nbsp;Health Care Service Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 06/15/2034\* | &nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp; 313053 |
| &nbsp;&nbsp;&nbsp;Heartland Dental LLC/Heartland Dental Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.50%, 04/30/2028\* | &nbsp;&nbsp; 848000 | &nbsp;&nbsp;&nbsp;&nbsp; 893903 |
| &nbsp;&nbsp;&nbsp;Humana, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.95%, 03/15/2034 | &nbsp;&nbsp; 345000 | &nbsp;&nbsp;&nbsp;&nbsp; 358139 |
| &nbsp;&nbsp;&nbsp;Icon Investments Six DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 05/08/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 207405 |
| &nbsp;&nbsp;&nbsp;IQVIA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 02/01/2029 | &nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 229891 |
| &nbsp;&nbsp;&nbsp;MedStar Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 08/15/2049 | &nbsp;&nbsp; 305000 | &nbsp;&nbsp;&nbsp;&nbsp; 215072 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Healthcare-Services (continued)** | **Healthcare-Services (continued)** | **Healthcare-Services (continued)** |
| &nbsp;&nbsp;&nbsp;Northwell Healthcare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.98%, 11/01/2046 | $500000 | &nbsp;&nbsp;$383137 |
| &nbsp;&nbsp;&nbsp;Providence St. Joseph Health Obligated Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.93%, 10/01/2048 | &nbsp;&nbsp; 1375000 | &nbsp;&nbsp;&nbsp;&nbsp; 1031324 |
| &nbsp;&nbsp;&nbsp;Stanford Health Care |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 11/15/2048 | &nbsp;&nbsp; 420000 | &nbsp;&nbsp;&nbsp;&nbsp; 319350 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 05/15/2050 | &nbsp;&nbsp; 880000 | &nbsp;&nbsp;&nbsp;&nbsp; 539786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 04/15/2029 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 478331 |
| &nbsp;&nbsp;&nbsp;West Virginia United Health System Obligated Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.92%, 06/01/2048 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 592247 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8330571 |
| **Home Builders — 0.0%** | **Home Builders — 0.0%** | **Home Builders — 0.0%** |
| &nbsp;&nbsp;&nbsp;LGI Homes, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 12/15/2028\* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 471970 |
| **Insurance — 0.5%** | **Insurance — 0.5%** | **Insurance — 0.5%** |
| &nbsp;&nbsp;&nbsp;Aflac, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 10/15/2046 | &nbsp;&nbsp; 540000 | &nbsp;&nbsp;&nbsp;&nbsp; 421491 |
| &nbsp;&nbsp;&nbsp;Alliant Holdings Intermediate LLC/Alliant Holdings Co.-Issuer |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 01/15/2031\* | &nbsp;&nbsp; 455000 | &nbsp;&nbsp;&nbsp;&nbsp; 467864 |
| &nbsp;&nbsp;&nbsp;Aon Global, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 12/15/2025 | &nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 34884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 05/15/2045 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 305076 |
| &nbsp;&nbsp;&nbsp;APH Somerset Investor 2 LLC/APH2 Somerset Investor 2 LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 11/01/2029\* | &nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 473920 |
| &nbsp;&nbsp;&nbsp;Arthur J. Gallagher & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 12/15/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100885 |
| &nbsp;&nbsp;&nbsp;Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.86%, 08/27/2026\* | &nbsp;&nbsp; 820000 | &nbsp;&nbsp;&nbsp;&nbsp; 822858 |
| &nbsp;&nbsp;&nbsp;Chubb INA Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.35%, 11/03/2045 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 64330 |
| &nbsp;&nbsp;&nbsp;CNO Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 01/06/2029\* | &nbsp;&nbsp; 1270000 | &nbsp;&nbsp;&nbsp;&nbsp; 1185156 |
| &nbsp;&nbsp;&nbsp;Liberty Mutual Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.85%, 08/01/2044\* | &nbsp;&nbsp; 510000 | &nbsp;&nbsp;&nbsp;&nbsp; 435882 |
| &nbsp;&nbsp;&nbsp;MassMutual Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 04/09/2027\* | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp; 859981 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 05/15/2029 | &nbsp;&nbsp; 320000 | &nbsp;&nbsp;&nbsp;&nbsp; 311054 |
| &nbsp;&nbsp;&nbsp;RGA Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 05/24/2029\* | &nbsp;&nbsp; 485000 | &nbsp;&nbsp;&nbsp;&nbsp; 498512 |
| &nbsp;&nbsp;&nbsp;Teachers Insurance & Annuity Association of America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.27%, 05/15/2047\* | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 808393 |
| &nbsp;&nbsp;&nbsp;Willis North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 09/15/2028 | &nbsp;&nbsp; 430000 | &nbsp;&nbsp;&nbsp;&nbsp; 430624 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7220910 |
| **Internet — 0.1%** | **Internet — 0.1%** | **Internet — 0.1%** |
| &nbsp;&nbsp;&nbsp;Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 01/15/2030 | &nbsp;&nbsp; 665000 | &nbsp;&nbsp;&nbsp;&nbsp; 659233 |
| **Leisure Time — 0.0%** | **Leisure Time — 0.0%** | **Leisure Time — 0.0%** |
| &nbsp;&nbsp;&nbsp;Sabre GLBL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.75%, 11/15/2029\* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 489236 |
| **Lodging — 0.1%** | **Lodging — 0.1%** | **Lodging — 0.1%** |
| &nbsp;&nbsp;&nbsp;Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.65%, 12/01/2028 | &nbsp;&nbsp; 860000 | &nbsp;&nbsp;&nbsp;&nbsp; 862724 |
| **Machinery-Construction & Mining — 0.1%** | **Machinery-Construction & Mining — 0.1%** | **Machinery-Construction & Mining — 0.1%** |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 05/14/2027 | &nbsp;&nbsp; 995000 | &nbsp;&nbsp;&nbsp;&nbsp; 1007990 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Machinery-Diversified — 0.1%** | **Machinery-Diversified — 0.1%** | **Machinery-Diversified — 0.1%** |
| &nbsp;&nbsp;&nbsp;John Deere Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.40%, 09/08/2031 | $415000 | &nbsp;&nbsp;$412643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 01/08/2027 | &nbsp;&nbsp; 805000 | &nbsp;&nbsp;&nbsp;&nbsp; 808421 |
| &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.45%, 11/15/2026 | &nbsp;&nbsp; 405000 | &nbsp;&nbsp;&nbsp;&nbsp; 399282 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1620346 |
| **Media — 0.5%** | **Media — 0.5%** | **Media — 0.5%** |
| &nbsp;&nbsp;&nbsp;CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.38%, 09/01/2029\* | &nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 464228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 03/01/2031\* | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 462623 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating LLC/Charter Communications Operating Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10%, 06/01/2029 | &nbsp;&nbsp; 195000 | &nbsp;&nbsp;&nbsp;&nbsp; 203416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.15%, 11/10/2026 | &nbsp;&nbsp; 545000 | &nbsp;&nbsp;&nbsp;&nbsp; 552874 |
| &nbsp;&nbsp;&nbsp;Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 05/15/2064 | &nbsp;&nbsp; 330000 | &nbsp;&nbsp;&nbsp;&nbsp; 304015 |
| &nbsp;&nbsp;&nbsp;Cox Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 10/01/2050\* | &nbsp;&nbsp; 920000 | &nbsp;&nbsp;&nbsp;&nbsp; 520229 |
| &nbsp;&nbsp;&nbsp;CSC Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.25%, 05/15/2028\* | &nbsp;&nbsp; 585000 | &nbsp;&nbsp;&nbsp;&nbsp; 588046 |
| &nbsp;&nbsp;&nbsp;Directv Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.88%, 02/01/2030\* | &nbsp;&nbsp; 368000 | &nbsp;&nbsp;&nbsp;&nbsp; 358318 |
| &nbsp;&nbsp;&nbsp;DISH Network Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.75%, 11/15/2027\* | &nbsp;&nbsp; 505000 | &nbsp;&nbsp;&nbsp;&nbsp; 525928 |
| &nbsp;&nbsp;&nbsp;Gray Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 08/15/2033\* | &nbsp;&nbsp; 195000 | &nbsp;&nbsp;&nbsp;&nbsp; 193974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.50%, 07/15/2029\* | &nbsp;&nbsp; 389000 | &nbsp;&nbsp;&nbsp;&nbsp; 420976 |
| &nbsp;&nbsp;&nbsp;Midcontinent Communications |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 08/15/2032\* | &nbsp;&nbsp; 462000 | &nbsp;&nbsp;&nbsp;&nbsp; 487480 |
| &nbsp;&nbsp;&nbsp;Sinclair Television Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.13%, 02/15/2033\* | &nbsp;&nbsp; 320000 | &nbsp;&nbsp;&nbsp;&nbsp; 326403 |
| &nbsp;&nbsp;&nbsp;Time Warner Cable LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.55%, 05/01/2037 | &nbsp;&nbsp; 480000 | &nbsp;&nbsp;&nbsp;&nbsp; 493176 |
| &nbsp;&nbsp;&nbsp;Univision Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.38%, 08/01/2032\* | &nbsp;&nbsp; 355000 | &nbsp;&nbsp;&nbsp;&nbsp; 368348 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6270034 |
| **Mining — 0.1%** | **Mining — 0.1%** | **Mining — 0.1%** |
| &nbsp;&nbsp;&nbsp;Corp. Nacional del Cobre de Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 01/15/2031\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 186741 |
| &nbsp;&nbsp;&nbsp;ERO Copper Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 02/15/2030\* | &nbsp;&nbsp; 485000 | &nbsp;&nbsp;&nbsp;&nbsp; 477725 |
| &nbsp;&nbsp;&nbsp;First Quantum Minerals, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 03/01/2033\* | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 247301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.63%, 06/01/2031\* | &nbsp;&nbsp; 419000 | &nbsp;&nbsp;&nbsp;&nbsp; 436286 |
| &nbsp;&nbsp;&nbsp;Ivanhoe Mines, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 01/23/2030\* | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 602908 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1950961 |
| **Oil & Gas — 0.6%** | **Oil & Gas — 0.6%** | **Oil & Gas — 0.6%** |
| &nbsp;&nbsp;&nbsp;Aethon United BR LP/Aethon United Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 10/01/2029\* | &nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 481961 |
| &nbsp;&nbsp;&nbsp;Ascent Resources Utica Holdings LLC/ARU Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 07/15/2033\* | &nbsp;&nbsp; 480000 | &nbsp;&nbsp;&nbsp;&nbsp; 486650 |
| &nbsp;&nbsp;&nbsp;Chord Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.75%, 03/15/2033\* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 484511 |
| &nbsp;&nbsp;&nbsp;Coterra Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 03/15/2029 | &nbsp;&nbsp; 965000 | &nbsp;&nbsp;&nbsp;&nbsp; 953535 |
| &nbsp;&nbsp;&nbsp;Encino Acquisition Partners Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75%, 05/01/2031\* | &nbsp;&nbsp; 440000 | &nbsp;&nbsp;&nbsp;&nbsp; 485551 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| &nbsp;&nbsp;&nbsp;Eni SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 05/15/2034\* | $245000 | &nbsp;&nbsp;$247184 |
| &nbsp;&nbsp;&nbsp;HF Sinclair Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.25%, 01/15/2035 | &nbsp;&nbsp; 515000 | &nbsp;&nbsp;&nbsp;&nbsp; 523999 |
| &nbsp;&nbsp;&nbsp;Ithaca Energy North Sea PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.13%, 10/15/2029\* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 386592 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 03/01/2030 | &nbsp;&nbsp; 440000 | &nbsp;&nbsp;&nbsp;&nbsp; 448123 |
| &nbsp;&nbsp;&nbsp;Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 01/01/2032 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 371835 |
| &nbsp;&nbsp;&nbsp;PBF Holding Co. LLC/PBF Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.88%, 09/15/2030\* | &nbsp;&nbsp; 525000 | &nbsp;&nbsp;&nbsp;&nbsp; 478819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.88%, 03/15/2030\* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 208153 |
| &nbsp;&nbsp;&nbsp;Permian Resources Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 01/15/2032\* | &nbsp;&nbsp; 455000 | &nbsp;&nbsp;&nbsp;&nbsp; 469842 |
| &nbsp;&nbsp;&nbsp;Pioneer Natural Resources Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13%, 01/15/2026 | &nbsp;&nbsp; 235000 | &nbsp;&nbsp;&nbsp;&nbsp; 231324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 03/29/2026 | &nbsp;&nbsp; 155000 | &nbsp;&nbsp;&nbsp;&nbsp; 155578 |
| &nbsp;&nbsp;&nbsp;Shell Finance US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 05/11/2045 | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 33691 |
| &nbsp;&nbsp;&nbsp;Sunoco LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 05/01/2029\* | &nbsp;&nbsp; 445000 | &nbsp;&nbsp;&nbsp;&nbsp; 460605 |
| &nbsp;&nbsp;&nbsp;Valero Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 02/15/2030 | &nbsp;&nbsp; 195000 | &nbsp;&nbsp;&nbsp;&nbsp; 198454 |
| &nbsp;&nbsp;&nbsp;Woodside Finance, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 09/15/2026\* | &nbsp;&nbsp; 101000 | &nbsp;&nbsp;&nbsp;&nbsp; 99820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 03/15/2028\* | &nbsp;&nbsp; 470000 | &nbsp;&nbsp;&nbsp;&nbsp; 457704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 03/04/2029\* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 468577 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8132508 |
| **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** |
| &nbsp;&nbsp;&nbsp;Weatherford International, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.63%, 04/30/2030\* | &nbsp;&nbsp; 466000 | &nbsp;&nbsp;&nbsp;&nbsp; 478727 |
| **Packaging & Containers — 0.0%** | **Packaging & Containers — 0.0%** | **Packaging & Containers — 0.0%** |
| &nbsp;&nbsp;&nbsp;Owens-Brockway Glass Container, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25%, 05/15/2031\* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 480338 |
| **Pharmaceuticals — 0.3%** | **Pharmaceuticals — 0.3%** | **Pharmaceuticals — 0.3%** |
| &nbsp;&nbsp;&nbsp;1261229 BC, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.00%, 04/15/2032\* | &nbsp;&nbsp; 480000 | &nbsp;&nbsp;&nbsp;&nbsp; 488683 |
| &nbsp;&nbsp;&nbsp;AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.95%, 11/21/2026 | &nbsp;&nbsp; 570000 | &nbsp;&nbsp;&nbsp;&nbsp; 559981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20%, 05/14/2026 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 05/14/2035 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 48040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.80%, 03/15/2029 | &nbsp;&nbsp; 380000 | &nbsp;&nbsp;&nbsp;&nbsp; 386026 |
| &nbsp;&nbsp;&nbsp;Amneal Pharmaceuticals LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 08/01/2032\* | &nbsp;&nbsp; 295000 | &nbsp;&nbsp;&nbsp;&nbsp; 299419 |
| &nbsp;&nbsp;&nbsp;Cardinal Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 09/15/2025 | &nbsp;&nbsp; 305000 | &nbsp;&nbsp;&nbsp;&nbsp; 304679 |
| &nbsp;&nbsp;&nbsp;CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 03/25/2048 | &nbsp;&nbsp; 565000 | &nbsp;&nbsp;&nbsp;&nbsp; 486146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.40%, 06/01/2029 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 564558 |
| &nbsp;&nbsp;&nbsp;HLF Financing Sarl LLC/Herbalife International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.25%, 04/15/2029\* | &nbsp;&nbsp; 667000 | &nbsp;&nbsp;&nbsp;&nbsp; 722829 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3959382 |
| **Pipelines — 0.6%** | **Pipelines — 0.6%** | **Pipelines — 0.6%** |
| &nbsp;&nbsp;&nbsp;Cameron LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.90%, 07/15/2031\* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp;&nbsp;&nbsp; 167363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 01/15/2039\* | &nbsp;&nbsp; 155000 | &nbsp;&nbsp;&nbsp;&nbsp; 129986 |
| &nbsp;&nbsp;&nbsp;Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 12/01/2026 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 114597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 04/05/2034 | &nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 235365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 01/15/2084 | &nbsp;&nbsp; 885000 | &nbsp;&nbsp;&nbsp;&nbsp; 940966 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| &nbsp;&nbsp;&nbsp;Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 05/15/2054 | $442000 | &nbsp;&nbsp;$470856 |
| &nbsp;&nbsp;&nbsp;Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 01/11/2027 | &nbsp;&nbsp; 865000 | &nbsp;&nbsp;&nbsp;&nbsp; 867807 |
| &nbsp;&nbsp;&nbsp;Excelerate Energy LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 05/15/2030\* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 497255 |
| &nbsp;&nbsp;&nbsp;Howard Midstream Energy Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.38%, 07/15/2032\* | &nbsp;&nbsp; 235000 | &nbsp;&nbsp;&nbsp;&nbsp; 242971 |
| &nbsp;&nbsp;&nbsp;NGL Energy Operating LLC/NGL Energy Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.13%, 02/15/2029\* | &nbsp;&nbsp; 492000 | &nbsp;&nbsp;&nbsp;&nbsp; 486872 |
| &nbsp;&nbsp;&nbsp;ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 09/15/2046 | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 34038 |
| &nbsp;&nbsp;&nbsp;Sabine Pass Liquefaction LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 03/15/2028 | &nbsp;&nbsp; 610000 | &nbsp;&nbsp;&nbsp;&nbsp; 605094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 05/15/2030 | &nbsp;&nbsp; 185000 | &nbsp;&nbsp;&nbsp;&nbsp; 184088 |
| &nbsp;&nbsp;&nbsp;South Bow Canadian Infrastructure Holdings, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 03/01/2055\* | &nbsp;&nbsp; 480000 | &nbsp;&nbsp;&nbsp;&nbsp; 498690 |
| &nbsp;&nbsp;&nbsp;South Bow USA Infrastructure Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.03%, 10/01/2029\* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 119895 |
| &nbsp;&nbsp;&nbsp;Spectra Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 10/15/2026 | &nbsp;&nbsp; 185000 | &nbsp;&nbsp;&nbsp;&nbsp; 182191 |
| &nbsp;&nbsp;&nbsp;Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 02/15/2035 | &nbsp;&nbsp; 215000 | &nbsp;&nbsp;&nbsp;&nbsp; 214875 |
| &nbsp;&nbsp;&nbsp;Targa Resources Partners LP/Targa Resources Partners Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/15/2028 | &nbsp;&nbsp; 339000 | &nbsp;&nbsp;&nbsp;&nbsp; 338560 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 01/15/2026 | &nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 14998 |
| &nbsp;&nbsp;&nbsp;Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 09/30/2029\*(3) | &nbsp;&nbsp; 655000 | &nbsp;&nbsp;&nbsp;&nbsp; 655167 |
| &nbsp;&nbsp;&nbsp;Williams Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 06/30/2030 | &nbsp;&nbsp; 315000 | &nbsp;&nbsp;&nbsp;&nbsp; 313753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.10%, 09/15/2045 | &nbsp;&nbsp; 405000 | &nbsp;&nbsp;&nbsp;&nbsp; 365045 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7680432 |
| **Real Estate — 0.1%** | **Real Estate — 0.1%** | **Real Estate — 0.1%** |
| &nbsp;&nbsp;&nbsp;Anywhere Real Estate Group LLC/Anywhere Co.-Issuer Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 04/15/2030\* | &nbsp;&nbsp; 540736 | &nbsp;&nbsp;&nbsp;&nbsp; 517851 |
| &nbsp;&nbsp;&nbsp;CBRE Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 04/01/2029 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 175107 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692958 |
| **REITS — 0.6%** | **REITS — 0.6%** | **REITS — 0.6%** |
| &nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 01/15/2027 | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 44586 |
| &nbsp;&nbsp;&nbsp;American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.45%, 09/15/2026 | &nbsp;&nbsp; 910000 | &nbsp;&nbsp;&nbsp;&nbsp; 878944 |
| &nbsp;&nbsp;&nbsp;Blackstone Mtg. Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.75%, 12/01/2029\* | &nbsp;&nbsp; 440000 | &nbsp;&nbsp;&nbsp;&nbsp; 465118 |
| &nbsp;&nbsp;&nbsp;Brixmor Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.90%, 03/15/2027 | &nbsp;&nbsp; 280000 | &nbsp;&nbsp;&nbsp;&nbsp; 277132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 06/15/2026 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 114568 |
| &nbsp;&nbsp;&nbsp;Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 04/01/2027\* | &nbsp;&nbsp; 360000 | &nbsp;&nbsp;&nbsp;&nbsp; 349686 |
| &nbsp;&nbsp;&nbsp;Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 01/15/2031 | &nbsp;&nbsp; 360000 | &nbsp;&nbsp;&nbsp;&nbsp; 314634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.70%, 06/15/2026 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 148763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 02/15/2026 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 349530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 05/15/2047 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 124915 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **REITS (continued)** | **REITS (continued)** | **REITS (continued)** |
| &nbsp;&nbsp;&nbsp;Essex Portfolio LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 03/15/2032 | $220000 | &nbsp;&nbsp;$192117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 04/15/2026 | &nbsp;&nbsp; 635000 | &nbsp;&nbsp;&nbsp;&nbsp; 629203 |
| &nbsp;&nbsp;&nbsp;Healthpeak OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13%, 12/01/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 185147 |
| &nbsp;&nbsp;&nbsp;Kilroy Realty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 10/01/2025 | &nbsp;&nbsp; 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 14985 |
| &nbsp;&nbsp;&nbsp;Public Storage Operating Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.95%, 11/09/2028 | &nbsp;&nbsp; 360000 | &nbsp;&nbsp;&nbsp;&nbsp; 334281 |
| &nbsp;&nbsp;&nbsp;Realty Income Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10%, 12/15/2029 | &nbsp;&nbsp; 540000 | &nbsp;&nbsp;&nbsp;&nbsp; 510570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 08/15/2027 | &nbsp;&nbsp; 345000 | &nbsp;&nbsp;&nbsp;&nbsp; 342410 |
| &nbsp;&nbsp;&nbsp;Regency Centers LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 02/01/2027 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 138347 |
| &nbsp;&nbsp;&nbsp;Simon Property Group LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.65%, 02/01/2032 | &nbsp;&nbsp; 1005000 | &nbsp;&nbsp;&nbsp;&nbsp; 886292 |
| &nbsp;&nbsp;&nbsp;Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.63%, 06/15/2032\* | &nbsp;&nbsp; 478000 | &nbsp;&nbsp;&nbsp;&nbsp; 484823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.50%, 02/15/2028\* | &nbsp;&nbsp; 267000 | &nbsp;&nbsp;&nbsp;&nbsp; 282187 |
| &nbsp;&nbsp;&nbsp;Ventas Realty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 10/15/2026 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp; 265771 |
| &nbsp;&nbsp;&nbsp;VICI Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.63%, 05/15/2052 | &nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 233896 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7567905 |
| **Retail — 0.3%** | **Retail — 0.3%** | **Retail — 0.3%** |
| &nbsp;&nbsp;&nbsp;AutoZone, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 04/21/2026 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 49437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.05%, 07/15/2026 | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp;&nbsp;&nbsp; 1055587 |
| &nbsp;&nbsp;&nbsp;Carvana Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.00%, 12/01/2028\*(4) | &nbsp;&nbsp; 73979 | &nbsp;&nbsp;&nbsp;&nbsp; 75676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.00%, 06/01/2030\*(4) | &nbsp;&nbsp; 129727 | &nbsp;&nbsp;&nbsp;&nbsp; 135690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.00%, 06/01/2031\*(5) | &nbsp;&nbsp; 166853 | &nbsp;&nbsp;&nbsp;&nbsp; 198417 |
| &nbsp;&nbsp;&nbsp;Cougar JV Subsidiary LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.00%, 05/15/2032\* | &nbsp;&nbsp; 438000 | &nbsp;&nbsp;&nbsp;&nbsp; 463246 |
| &nbsp;&nbsp;&nbsp;eG Global Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.00%, 11/30/2028\* | &nbsp;&nbsp; 595000 | &nbsp;&nbsp;&nbsp;&nbsp; 657420 |
| &nbsp;&nbsp;&nbsp;FirstCash, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 03/01/2032\* | &nbsp;&nbsp; 171000 | &nbsp;&nbsp;&nbsp;&nbsp; 175293 |
| &nbsp;&nbsp;&nbsp;LCM Investments Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 08/01/2031\* | &nbsp;&nbsp; 440000 | &nbsp;&nbsp;&nbsp;&nbsp; 465221 |
| &nbsp;&nbsp;&nbsp;Lowe's Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.45%, 04/01/2062 | &nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 161069 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.60%, 09/01/2027 | &nbsp;&nbsp; 430000 | &nbsp;&nbsp;&nbsp;&nbsp; 422757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.75%, 11/20/2026 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp; 162347 |
| &nbsp;&nbsp;&nbsp;Saks Global Enterprises LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.00%, 12/15/2029\* | &nbsp;&nbsp; 525000 | &nbsp;&nbsp;&nbsp;&nbsp; 118125 |
| &nbsp;&nbsp;&nbsp;TJX Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.60%, 05/15/2031 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 214725 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4355010 |
| **Savings & Loans — 0.1%** | **Savings & Loans — 0.1%** | **Savings & Loans — 0.1%** |
| &nbsp;&nbsp;&nbsp;Nationwide Building Society |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 10/13/2026\* | &nbsp;&nbsp; 875000 | &nbsp;&nbsp;&nbsp;&nbsp; 844813 |
| **Semiconductors — 0.1%** | **Semiconductors — 0.1%** | **Semiconductors — 0.1%** |
| &nbsp;&nbsp;&nbsp;Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60%, 07/15/2030 | &nbsp;&nbsp; 420000 | &nbsp;&nbsp;&nbsp;&nbsp; 420161 |
| &nbsp;&nbsp;&nbsp;Foundry JV Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.90%, 01/25/2033\* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 215801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.15%, 01/25/2032\* | &nbsp;&nbsp; 215000 | &nbsp;&nbsp;&nbsp;&nbsp; 224928 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Semiconductors (continued)** | **Semiconductors (continued)** | **Semiconductors (continued)** |
| &nbsp;&nbsp;&nbsp;Kioxia Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.63%, 07/24/2033\* | $250000 | &nbsp;&nbsp;$247381 |
| &nbsp;&nbsp;&nbsp;Marvell Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 07/15/2030 | &nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 55033 |
| &nbsp;&nbsp;&nbsp;NXP BV/NXP Funding LLC/NXP USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15%, 05/01/2027 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 112326 |
| &nbsp;&nbsp;&nbsp;Qorvo, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 10/15/2029 | &nbsp;&nbsp; 105000 | &nbsp;&nbsp;&nbsp;&nbsp; 101838 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1377468 |
| **Software — 0.3%** | **Software — 0.3%** | **Software — 0.3%** |
| &nbsp;&nbsp;&nbsp;Atlassian Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 05/15/2029 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp; 178646 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 09/10/2029 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp; 269140 |
| &nbsp;&nbsp;&nbsp;Cloud Software Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 06/30/2032\* | &nbsp;&nbsp; 440000 | &nbsp;&nbsp;&nbsp;&nbsp; 468526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.00%, 09/30/2029\* | &nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 476036 |
| &nbsp;&nbsp;&nbsp;Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45%, 03/15/2034 | &nbsp;&nbsp; 620000 | &nbsp;&nbsp;&nbsp;&nbsp; 629353 |
| &nbsp;&nbsp;&nbsp;Microsoft Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.92%, 03/17/2052 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 98964 |
| &nbsp;&nbsp;&nbsp;Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 07/15/2040 | &nbsp;&nbsp; 565000 | &nbsp;&nbsp;&nbsp;&nbsp; 543757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.90%, 11/09/2052 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 159056 |
| &nbsp;&nbsp;&nbsp;Roper Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.80%, 12/15/2026 | &nbsp;&nbsp; 745000 | &nbsp;&nbsp;&nbsp;&nbsp; 738186 |
| &nbsp;&nbsp;&nbsp;VMware LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.40%, 08/15/2026 | &nbsp;&nbsp; 920000 | &nbsp;&nbsp;&nbsp;&nbsp; 891309 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4452973 |
| **Telecommunications — 0.3%** | **Telecommunications — 0.3%** | **Telecommunications — 0.3%** |
| &nbsp;&nbsp;&nbsp;AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.35%, 03/01/2029 | &nbsp;&nbsp; 345000 | &nbsp;&nbsp;&nbsp;&nbsp; 344007 |
| &nbsp;&nbsp;&nbsp;Digicel International Finance, Ltd. / Difl US LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.63%, 08/01/2032\* | &nbsp;&nbsp; 485000 | &nbsp;&nbsp;&nbsp;&nbsp; 489881 |
| &nbsp;&nbsp;&nbsp;EchoStar Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.75%, 11/30/2029 | &nbsp;&nbsp; 235000 | &nbsp;&nbsp;&nbsp;&nbsp; 247631 |
| &nbsp;&nbsp;&nbsp;Iliad Holding SASU |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00%, 04/15/2032\* | &nbsp;&nbsp; 420000 | &nbsp;&nbsp;&nbsp;&nbsp; 431083 |
| &nbsp;&nbsp;&nbsp;Level 3 Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.88%, 06/30/2033\* | &nbsp;&nbsp; 580000 | &nbsp;&nbsp;&nbsp;&nbsp; 587746 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 04/15/2029 | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 243428 |
| &nbsp;&nbsp;&nbsp;NTT Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.88%, 07/16/2030\* | &nbsp;&nbsp; 215000 | &nbsp;&nbsp;&nbsp;&nbsp; 216217 |
| &nbsp;&nbsp;&nbsp;Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 03/15/2042 | &nbsp;&nbsp; 895000 | &nbsp;&nbsp;&nbsp;&nbsp; 766794 |
| &nbsp;&nbsp;&nbsp;Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.68%, 10/30/2030 | &nbsp;&nbsp; 824000 | &nbsp;&nbsp;&nbsp;&nbsp; 713442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.25%, 04/02/2035 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 100402 |
| &nbsp;&nbsp;&nbsp;Windstream Services LLC/Windstream Escrow Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.25%, 10/01/2031\* | &nbsp;&nbsp; 340000 | &nbsp;&nbsp;&nbsp;&nbsp; 355943 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4496574 |
| **Transportation — 0.1%** | **Transportation — 0.1%** | **Transportation — 0.1%** |
| &nbsp;&nbsp;&nbsp;Autoridad del Canal de Panama |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.95%, 07/29/2035\* | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 282506 |
| &nbsp;&nbsp;&nbsp;Canadian National Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.85%, 11/01/2033 | &nbsp;&nbsp; 365000 | &nbsp;&nbsp;&nbsp;&nbsp; 391734 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 12/02/2026 | &nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp;&nbsp; 221876 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Transportation (continued)** | **Transportation (continued)** | **Transportation (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 05/01/2050 | $365000 | &nbsp;&nbsp;$259122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.70%, 05/01/2048 | &nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 223826 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1379064 |
| **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** |
| &nbsp;&nbsp;&nbsp;GATX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 09/15/2026 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 369507 |
| **Total Corporate Bonds & Notes<br> (cost $139,679,561)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134672132 |
| **LOANS(6)(7)(8) — 0.3%** |  |  |
| **Apparel — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Varsity Brands, Inc. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.45%, (TSFR3M +3.25%), 08/26/2031 | &nbsp;&nbsp; 493763 | &nbsp;&nbsp;&nbsp;&nbsp; 494843 |
| **Oil & Gas — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Waterbridge Midstream Operating LLC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.31%, (TSFR3M+4.75%), 06/27/2029 | &nbsp;&nbsp; 510614 | &nbsp;&nbsp;&nbsp;&nbsp; 510455 |
| **Pharmaceuticals — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Endo Finance Holdings, Inc. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.32%, (TSFR1M+4.00%), 04/23/2031 | &nbsp;&nbsp; 485751 | &nbsp;&nbsp;&nbsp;&nbsp; 486966 |
| **Retail — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Victra Holdings LLC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.55%, (TSFR3M +4.25%), 03/31/2029 | &nbsp;&nbsp; 482976 | &nbsp;&nbsp;&nbsp;&nbsp; 483579 |
| **Semiconductors — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Instructure Holdings, Inc. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.21%, (TSFR6M+5.00%), 11/12/2032 | &nbsp;&nbsp; 490000 | &nbsp;&nbsp;&nbsp;&nbsp; 496431 |
| **Software — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Sophia, L.P. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.07%, (TSFR1M+4.75%), 11/22/2032 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 513125 |
| **Telecommunications — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Level 3 Financing, Inc. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.57% , (TSFR1M +4.25%), 03/27/2032 | &nbsp;&nbsp; 480000 | &nbsp;&nbsp;&nbsp;&nbsp; 481920 |
| &nbsp;&nbsp;&nbsp;Lumen Technologies, Inc. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.78% , (TSFR1M +2.35%), 04/16/2029 | &nbsp;&nbsp; 263517 | &nbsp;&nbsp;&nbsp;&nbsp; 261870 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743790 |
| **Total Loans<br> (cost $3,686,058)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3729189 |
| **ASSET BACKED SECURITIES — 1.1%** | **ASSET BACKED SECURITIES — 1.1%** | **ASSET BACKED SECURITIES — 1.1%** |
| **Auto Loan Receivables — 0.3%** | **Auto Loan Receivables — 0.3%** | **Auto Loan Receivables — 0.3%** |
| &nbsp;&nbsp;&nbsp;Ally Bank Auto Credit-Linked Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-B, Class B<br> 5.12%, 09/15/2032\* | &nbsp;&nbsp; 178913 | &nbsp;&nbsp;&nbsp;&nbsp; 179607 |
| &nbsp;&nbsp;&nbsp;Bayview Opportunity Master Fund LLC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CAR1, Class A<br> 5.45%, (SOFR30A+1.10%), 12/26/2031\* | &nbsp;&nbsp; 128634 | &nbsp;&nbsp;&nbsp;&nbsp; 129004 |
| &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class B<br> 5.17%, 08/15/2029 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 60694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-3, Class B<br> 5.47%, 02/15/2029 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp; 147270 |
| &nbsp;&nbsp;&nbsp;Carvana Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-P4, Class C<br> 2.33%, 02/10/2028 | &nbsp;&nbsp; 530000 | &nbsp;&nbsp;&nbsp;&nbsp; 508219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-P4, Class A3<br> 4.64%, 01/10/2030 | &nbsp;&nbsp; 155000 | &nbsp;&nbsp;&nbsp;&nbsp; 155234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-P4, Class A4<br> 4.74%, 12/10/2030 | &nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp;&nbsp; 266610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-N1, Class B<br> 5.63%, 05/10/2030\* | &nbsp;&nbsp; 185000 | &nbsp;&nbsp;&nbsp;&nbsp; 186720 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |
| **Auto Loan Receivables (continued)** | **Auto Loan Receivables (continued)** | **Auto Loan Receivables (continued)** |
| &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-3, Class A3<br> 4.46%, 09/20/2029\* | $330000 | &nbsp;&nbsp;$330864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-4, Class A2<br> 4.69%, 07/20/2027\* | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 130110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-4, Class A4<br> 4.70%, 06/20/2031\* | &nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp; 191267 |
| &nbsp;&nbsp;&nbsp;Exeter Select Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2, Class A3<br> 4.43%, 08/15/2030 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp; 169655 |
| &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2, Class C<br> 1.74%, 04/15/2033\* | &nbsp;&nbsp; 520000 | &nbsp;&nbsp;&nbsp;&nbsp; 516366 |
| &nbsp;&nbsp;&nbsp;Huntington Bank Auto Credit-Linked Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1, Class B<br> 4.96%, 03/21/2033\* | &nbsp;&nbsp; 264508 | &nbsp;&nbsp;&nbsp;&nbsp; 264563 |
| &nbsp;&nbsp;&nbsp;Navistar Financial Dealer Note Master Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1, Class A<br> 5.59%, 04/25/2029\* | &nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 211333 |
| &nbsp;&nbsp;&nbsp;Santander Bank Auto Credit-Linked Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-C, Class B<br> 6.45%, 12/15/2032\* | &nbsp;&nbsp; 5864 | &nbsp;&nbsp;&nbsp;&nbsp; 5866 |
| &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1, Class A3<br> 4.74%, 01/16/2029 | &nbsp;&nbsp; 315000 | &nbsp;&nbsp;&nbsp;&nbsp; 315549 |
| &nbsp;&nbsp;&nbsp;SFS Auto Receivables Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2A, Class A3<br> 5.33%, 11/20/2029\* | &nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 262542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2A, Class B<br> 5.41%, 08/20/2030\* | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 61257 |
| &nbsp;&nbsp;&nbsp;Wheels Fleet Lease Funding 1 LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2A, Class A1<br> 4.41%, 05/18/2040\* | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 798687 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4891417 |
| **Other Asset Backed Securities — 0.8%** | **Other Asset Backed Securities — 0.8%** | **Other Asset Backed Securities — 0.8%** |
| &nbsp;&nbsp;&nbsp;Affirm Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2A, Class A<br> 4.67%, 07/15/2033\* | &nbsp;&nbsp; 605000 | &nbsp;&nbsp;&nbsp;&nbsp; 604864 |
| &nbsp;&nbsp;&nbsp;AGL CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-13A, Class A1R<br> 5.41%, (TSFR3M+1.10%), 10/20/2034\* | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp; 850000 |
| &nbsp;&nbsp;&nbsp;Auxilior Term Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 5.84%, 03/15/2027\* | &nbsp;&nbsp; 47223 | &nbsp;&nbsp;&nbsp;&nbsp; 47410 |
| &nbsp;&nbsp;&nbsp;Barings Clo, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-3A, Class B1R<br> 5.96%, (TSFR3M+1.63%), 01/18/2035\* | &nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 425289 |
| &nbsp;&nbsp;&nbsp;CyrusOne Data Centers Issuer I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2A, Class A2<br> 4.50%, 05/20/2049\* | &nbsp;&nbsp; 755000 | &nbsp;&nbsp;&nbsp;&nbsp; 733663 |
| &nbsp;&nbsp;&nbsp;Dell Equipment Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2, Class A3<br> 4.59%, 08/22/2030\* | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 120340 |
| &nbsp;&nbsp;&nbsp;Elara HGV Timeshare Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-A, Class A<br> 6.16%, 02/25/2038\* | &nbsp;&nbsp; 103113 | &nbsp;&nbsp;&nbsp;&nbsp; 105758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-A, Class B<br> 6.53%, 02/25/2038\* | &nbsp;&nbsp; 80383 | &nbsp;&nbsp;&nbsp;&nbsp; 82186 |
| &nbsp;&nbsp;&nbsp;Elmwood CLO 20, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-7A, Class AR<br> 5.82%, (TSFR3M+1.50%), 01/17/2037\* | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 376020 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;Halseypoint CLO 6, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-6A, Class A1R<br> 5.68%, (TSFR3M+1.35%), 01/20/2038\* | $250000 | &nbsp;&nbsp;$250161 |
| &nbsp;&nbsp;&nbsp;Hardee's Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 7.25%, 03/20/2054\* | &nbsp;&nbsp; 271981 | &nbsp;&nbsp;&nbsp;&nbsp; 279201 |
| &nbsp;&nbsp;&nbsp;Highbridge Loan Management, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 5A-2015, Class A1R3<br> 5.38%, (TSFR3M+1.06%), 10/15/2030\* | &nbsp;&nbsp; 175100 | &nbsp;&nbsp;&nbsp;&nbsp; 175223 |
| &nbsp;&nbsp;&nbsp;Jamestown CLO XV, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-15A, Class A1R<br> 5.69%, (TSFR3M+1.37%), 07/15/2035\* | &nbsp;&nbsp; 345000 | &nbsp;&nbsp;&nbsp;&nbsp; 345338 |
| &nbsp;&nbsp;&nbsp;KKR CLO 43, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-43A, Class A1R<br> 6.07%, (TSFR3M+1.75%), 01/15/2036\* | &nbsp;&nbsp; 330000 | &nbsp;&nbsp;&nbsp;&nbsp; 331412 |
| &nbsp;&nbsp;&nbsp;MVW LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-2A, Class A<br> 2.22%, 10/20/2038\* | &nbsp;&nbsp; 36295 | &nbsp;&nbsp;&nbsp;&nbsp; 35771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-2A, Class A<br> 6.18%, 11/20/2040\* | &nbsp;&nbsp; 76003 | &nbsp;&nbsp;&nbsp;&nbsp; 77443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-2A, Class B<br> 6.33%, 11/20/2040\* | &nbsp;&nbsp; 60582 | &nbsp;&nbsp;&nbsp;&nbsp; 61577 |
| &nbsp;&nbsp;&nbsp;Navient Private Education Refi Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-CA, Class A2<br> 3.13%, 02/15/2068\* | &nbsp;&nbsp; 129762 | &nbsp;&nbsp;&nbsp;&nbsp; 127650 |
| &nbsp;&nbsp;&nbsp;Nelnet Student Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-CA, Class AFX<br> 1.32%, 04/20/2062\* | &nbsp;&nbsp; 384827 | &nbsp;&nbsp;&nbsp;&nbsp; 359152 |
| &nbsp;&nbsp;&nbsp;NMEF Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-A, Class A2<br> 4.72%, 07/15/2032\* | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 109963 |
| &nbsp;&nbsp;&nbsp;OCP CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-13A, Class AR2<br> 5.67%, (TSFR3M+1.34%), 11/26/2037\* | &nbsp;&nbsp; 335000 | &nbsp;&nbsp;&nbsp;&nbsp; 336323 |
| &nbsp;&nbsp;&nbsp;Octane Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RVM1, Class A<br> 5.01%, 01/22/2046\* | &nbsp;&nbsp; 197141 | &nbsp;&nbsp;&nbsp;&nbsp; 198268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 5.68%, 05/20/2030\* | &nbsp;&nbsp; 114606 | &nbsp;&nbsp;&nbsp;&nbsp; 115286 |
| &nbsp;&nbsp;&nbsp;Palmer Square, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2A, Class AR1<br> 5.57%, (TSFR3M+1.25%), 02/15/2038\* | &nbsp;&nbsp; 490000 | &nbsp;&nbsp;&nbsp;&nbsp; 490630 |
| &nbsp;&nbsp;&nbsp;PEAC Solutions Receivables LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2<br> 4.94%, 10/20/2028\* | &nbsp;&nbsp; 540000 | &nbsp;&nbsp;&nbsp;&nbsp; 541580 |
| &nbsp;&nbsp;&nbsp;Post Road Equipment Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2<br> 4.90%, 05/15/2031\* | &nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 461179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 5.59%, 11/15/2029\* | &nbsp;&nbsp; 64518 | &nbsp;&nbsp;&nbsp;&nbsp; 64779 |
| &nbsp;&nbsp;&nbsp;SCF Equipment Leasing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class C<br> 5.82%, 09/20/2032\* | &nbsp;&nbsp; 235000 | &nbsp;&nbsp;&nbsp;&nbsp; 241208 |
| &nbsp;&nbsp;&nbsp;SCF Equipment Trust LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1A, Class A2<br> 4.82%, 07/22/2030\* | &nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp;&nbsp; 290031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-1A, Class A3<br> 5.11%, 11/21/2033\* | &nbsp;&nbsp; 280000 | &nbsp;&nbsp;&nbsp;&nbsp; 284914 |
| &nbsp;&nbsp;&nbsp;SEB Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 7.39%, 04/30/2054\* | &nbsp;&nbsp; 426000 | &nbsp;&nbsp;&nbsp;&nbsp; 433584 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |
| **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;ServiceMaster Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1, Class A2I<br> 2.87%, 07/30/2051\* | $459048 | &nbsp;&nbsp;$420735 |
| &nbsp;&nbsp;&nbsp;Sierra Timeshare Receivables Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-2A, Class A<br> 4.72%, 04/20/2044\* | &nbsp;&nbsp; 195000 | &nbsp;&nbsp;&nbsp;&nbsp; 195392 |
| &nbsp;&nbsp;&nbsp;Signal Peak CLO 5, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-5A, Class A1R<br> 5.87%, (TSFR3M+1.55%), 04/25/2037\* | &nbsp;&nbsp; 680000 | &nbsp;&nbsp;&nbsp;&nbsp; 681894 |
| &nbsp;&nbsp;&nbsp;SMB Private Education Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-A, Class APT1<br> 1.07%, 01/15/2053\* | &nbsp;&nbsp; 370586 | &nbsp;&nbsp;&nbsp;&nbsp; 335357 |
| &nbsp;&nbsp;&nbsp;Verdant Receivables LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-1A, Class A2<br> 5.68%, 12/12/2031\* | &nbsp;&nbsp; 81849 | &nbsp;&nbsp;&nbsp;&nbsp; 82913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-1A, Class A2<br> 6.24%, 01/13/2031\* | &nbsp;&nbsp; 62470 | &nbsp;&nbsp;&nbsp;&nbsp; 63345 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10735839 |
| **Total Asset Backed Securities<br> (cost $15,652,393)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15627256 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 1.7%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 1.7%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 1.7%** |
| **Commercial and Residential — 1.1%** | **Commercial and Residential — 1.1%** | **Commercial and Residential — 1.1%** |
| &nbsp;&nbsp;&nbsp;Angel Oak Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1, Class A1<br> 0.91%, 01/25/2066\*(9) | &nbsp;&nbsp; 213741 | &nbsp;&nbsp;&nbsp;&nbsp; 184181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2, Class A1<br> 0.99%, 04/25/2066\*(9) | &nbsp;&nbsp; 210539 | &nbsp;&nbsp;&nbsp;&nbsp; 179170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1, Class A2<br> 1.12%, 01/25/2066\*(9) | &nbsp;&nbsp; 68674 | &nbsp;&nbsp;&nbsp;&nbsp; 59386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-6, Class A2<br> 1.52%, 05/25/2065\*(9) | &nbsp;&nbsp; 67502 | &nbsp;&nbsp;&nbsp;&nbsp; 61455 |
| &nbsp;&nbsp;&nbsp;BANK5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-5YR14, Class A3<br> 5.65%, 04/15/2058 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 440644 |
| &nbsp;&nbsp;&nbsp;BANK5 VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-5YR12, Class A3<br> 5.90%, 12/15/2057(9) | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 41743 |
| &nbsp;&nbsp;&nbsp;Barclays Mtg. Loan Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class A3<br> 2.19%, 09/25/2051\*(9) | &nbsp;&nbsp; 215144 | &nbsp;&nbsp;&nbsp;&nbsp; 191838 |
| &nbsp;&nbsp;&nbsp;BBCMS Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-5C27, Class A3<br> 6.01%, 07/15/2057 | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 41757 |
| &nbsp;&nbsp;&nbsp;BBCMS Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-C35, Class A5<br> 5.59%, 07/15/2058(9) | &nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 67275 |
| &nbsp;&nbsp;&nbsp;Benchmark Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-V16, Class A3<br> 5.44%, 08/15/2057 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 51430 |
| &nbsp;&nbsp;&nbsp;BIG Commercial Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-BIG, Class A<br> 5.68%, (TSFR1M+1.34%), 02/15/2039\* | &nbsp;&nbsp; 939923 | &nbsp;&nbsp;&nbsp;&nbsp; 937579 |
| &nbsp;&nbsp;&nbsp;BX Commercial Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-MDHS, Class A<br> 5.98%, (TSFR1M+1.64%), 05/15/2041\* | &nbsp;&nbsp; 288958 | &nbsp;&nbsp;&nbsp;&nbsp; 289680 |
| &nbsp;&nbsp;&nbsp;BX Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-LIFE, Class B<br> 5.39%, 02/15/2028\* | &nbsp;&nbsp; 595000 | &nbsp;&nbsp;&nbsp;&nbsp; 578800 |
| &nbsp;&nbsp;&nbsp;BX Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-ROIC, Class A<br> 5.49%, (TSFR1M+1.14%), 03/15/2030\* | &nbsp;&nbsp; 886542 | &nbsp;&nbsp;&nbsp;&nbsp; 884880 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Commercial and Residential (continued)** | **Commercial and Residential (continued)** | **Commercial and Residential (continued)** |
| &nbsp;&nbsp;&nbsp;CENT VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CITY, Class A<br> 5.09%, 07/10/2040\*(9) | $365000 | &nbsp;&nbsp;$366245 |
| &nbsp;&nbsp;&nbsp;Citigroup Commercial Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-GC36, Class A5<br> 3.62%, 02/10/2049 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 247233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-GC33, Class A4<br> 3.78%, 09/10/2058 | &nbsp;&nbsp; 34967 | &nbsp;&nbsp;&nbsp;&nbsp; 34905 |
| &nbsp;&nbsp;&nbsp;Citigroup Mtg. Loan Trust, Inc. VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-EXP2, Class A3<br> 2.50%, 08/25/2050\*(9) | &nbsp;&nbsp; 228975 | &nbsp;&nbsp;&nbsp;&nbsp; 196328 |
| &nbsp;&nbsp;&nbsp;COLT Mtg. Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-8, Class A1<br> 5.48%, 08/25/2070\*(10) | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp; 224776 |
| &nbsp;&nbsp;&nbsp;COLT Mtg. Loan Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-3, Class A1<br> 1.51%, 04/27/2065\*(9) | &nbsp;&nbsp; 7500 | &nbsp;&nbsp;&nbsp;&nbsp; 7361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-3, Class A1<br> 3.90%, 02/25/2067\*(9) | &nbsp;&nbsp; 428447 | &nbsp;&nbsp;&nbsp;&nbsp; 416393 |
| &nbsp;&nbsp;&nbsp;COMM Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-CR26, Class A4<br> 3.63%, 10/10/2048 | &nbsp;&nbsp; 263770 | &nbsp;&nbsp;&nbsp;&nbsp; 262851 |
| &nbsp;&nbsp;&nbsp;Connecticut Avenue Securities Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-R05, Class 2M1<br> 5.52%, (SOFR30A+1.20%), 07/25/2045\* | &nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 475297 |
| &nbsp;&nbsp;&nbsp;CSAIL Commercial Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C6, Class A5<br> 3.09%, 01/15/2049 | &nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp; 241757 |
| &nbsp;&nbsp;&nbsp;Ellington Financial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2, Class A1<br> 0.93%, 06/25/2066\*(9) | &nbsp;&nbsp; 131194 | &nbsp;&nbsp;&nbsp;&nbsp; 108848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2, Class A1<br> 1.18%, 10/25/2065\*(9) | &nbsp;&nbsp; 140523 | &nbsp;&nbsp;&nbsp;&nbsp; 131303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-2, Class A3<br> 3.05%, 11/25/2059\*(9) | &nbsp;&nbsp; 30469 | &nbsp;&nbsp;&nbsp;&nbsp; 28840 |
| &nbsp;&nbsp;&nbsp;Galton Funding Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-1, Class A23<br> 3.50%, 11/25/2057\*(9) | &nbsp;&nbsp; 15338 | &nbsp;&nbsp;&nbsp;&nbsp; 13891 |
| &nbsp;&nbsp;&nbsp;GCAT Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM4, Class A1<br> 5.53%, 06/25/2070\*(10) | &nbsp;&nbsp; 515000 | &nbsp;&nbsp;&nbsp;&nbsp; 514951 |
| &nbsp;&nbsp;&nbsp;GS Mtg. Securities Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-INV1, Class A14<br> 2.91%, 10/25/2050\*(9) | &nbsp;&nbsp; 164749 | &nbsp;&nbsp;&nbsp;&nbsp; 138576 |
| &nbsp;&nbsp;&nbsp;Hudson Yards Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SPRL, Class A<br> 5.47%, 01/13/2040\*(9) | &nbsp;&nbsp; 155000 | &nbsp;&nbsp;&nbsp;&nbsp; 158897 |
| &nbsp;&nbsp;&nbsp;J.P. Morgan Chase Commercial Mtg. Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-OPO, Class B<br> 3.38%, 01/05/2039\* | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 214239 |
| &nbsp;&nbsp;&nbsp;JP Morgan Mtg. Trust Series VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM3, Class A1<br> 5.50%, 11/25/2065\*(9) | &nbsp;&nbsp; 830000 | &nbsp;&nbsp;&nbsp;&nbsp; 828462 |
| &nbsp;&nbsp;&nbsp;JPMorgan Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-INV1, Class A11<br> 5.30%, (TSFR1M+0.94%), 08/25/2050\* | &nbsp;&nbsp; 34673 | &nbsp;&nbsp;&nbsp;&nbsp; 32720 |
| &nbsp;&nbsp;&nbsp;JPMorgan Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-INV2, Class A3<br> 3.00%, 10/25/2050\*(9) | &nbsp;&nbsp; 213483 | &nbsp;&nbsp;&nbsp;&nbsp; 184032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-INV3, Class A3<br> 3.50%, 05/25/2050\*(9) | &nbsp;&nbsp; 67429 | &nbsp;&nbsp;&nbsp;&nbsp; 60347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-INV1, Class A3<br> 3.50%, 08/25/2050\*(9) | &nbsp;&nbsp; 57788 | &nbsp;&nbsp;&nbsp;&nbsp; 51564 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** |
| **Commercial and Residential (continued)** | **Commercial and Residential (continued)** | **Commercial and Residential (continued)** |
| &nbsp;&nbsp;&nbsp;MARQ Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-HOU, Class A<br> 5.93%, (TSFR1M+1.59%), 06/15/2039\* | $100000 | &nbsp;&nbsp;$99844 |
| &nbsp;&nbsp;&nbsp;MHC Commercial Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-MHC, Class B<br> 5.56%, (TSFR1M+1.21%), 04/15/2038\* | &nbsp;&nbsp; 836000 | &nbsp;&nbsp;&nbsp;&nbsp; 837568 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Bank of America Merrill Lynch Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-C27, Class AS<br> 4.07%, 12/15/2047 | &nbsp;&nbsp; 410000 | &nbsp;&nbsp;&nbsp;&nbsp; 407742 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Residential Mtg. Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-DSC2, Class A1<br> 5.44%, 07/25/2070\*(10) | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99920 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Residential Mtg. Loan Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM5, Class A1<br> 5.44%, 07/25/2070\*(9) | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 99994 |
| &nbsp;&nbsp;&nbsp;New Residential Mtg. Loan Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-INV1, Class A4<br> 3.00%, 03/25/2052\*(9) | &nbsp;&nbsp; 459926 | &nbsp;&nbsp;&nbsp;&nbsp; 384415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM4, Class A1<br> 5.35%, 07/25/2065\*(9) | &nbsp;&nbsp; 630000 | &nbsp;&nbsp;&nbsp;&nbsp; 628983 |
| &nbsp;&nbsp;&nbsp;NYMT Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV1, Class A1<br> 5.40%, 04/25/2060\*(10) | &nbsp;&nbsp; 98648 | &nbsp;&nbsp;&nbsp;&nbsp; 98396 |
| &nbsp;&nbsp;&nbsp;OBX Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-EXP1, Class 2A2<br> 5.42%, (TSFR1M+1.06%), 02/25/2060\* | &nbsp;&nbsp; 19489 | &nbsp;&nbsp;&nbsp;&nbsp; 19252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-EXP3, Class 2A2<br> 5.57%, (TSFR1M+1.21%), 10/25/2059\* | &nbsp;&nbsp; 7966 | &nbsp;&nbsp;&nbsp;&nbsp; 7993 |
| &nbsp;&nbsp;&nbsp;OBX Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-EXP2, Class A8<br> 3.00%, 05/25/2060\*(9) | &nbsp;&nbsp; 120559 | &nbsp;&nbsp;&nbsp;&nbsp; 104977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-EXP3, Class 1A9<br> 3.50%, 10/25/2059\*(9) | &nbsp;&nbsp; 35318 | &nbsp;&nbsp;&nbsp;&nbsp; 31880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-EXP1, Class 1A8<br> 3.50%, 02/25/2060\*(9) | &nbsp;&nbsp; 108133 | &nbsp;&nbsp;&nbsp;&nbsp; 96014 |
| &nbsp;&nbsp;&nbsp;PENN Commercial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-P11, Class A<br> 5.52%, 08/10/2042\*(9) | &nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 210599 |
| &nbsp;&nbsp;&nbsp;PSMC Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2, Class A3<br> 2.50%, 05/25/2051\*(9) | &nbsp;&nbsp; 464968 | &nbsp;&nbsp;&nbsp;&nbsp; 416695 |
| &nbsp;&nbsp;&nbsp;RCKT Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CES9, Class A1A<br> 5.58%, 12/25/2044\*(10) | &nbsp;&nbsp; 90213 | &nbsp;&nbsp;&nbsp;&nbsp; 90371 |
| &nbsp;&nbsp;&nbsp;Sequoia Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-CH2, Class A3<br> 4.00%, 06/25/2048\*(9) | &nbsp;&nbsp; 32870 | &nbsp;&nbsp;&nbsp;&nbsp; 30564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-HYB1, Class A1A<br> 4.45%, 11/25/2063\*(9) | &nbsp;&nbsp; 259425 | &nbsp;&nbsp;&nbsp;&nbsp; 258301 |
| &nbsp;&nbsp;&nbsp;SG Residential Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-3, Class A1<br> 2.70%, 09/25/2059\*(9) | &nbsp;&nbsp; 593 | &nbsp;&nbsp;&nbsp;&nbsp; 590 |
| &nbsp;&nbsp;&nbsp;Starwood Mtg. Residential Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-INV1, Class A1<br> 1.03%, 11/25/2055\*(9) | &nbsp;&nbsp; 47686 | &nbsp;&nbsp;&nbsp;&nbsp; 44956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-INV1, Class A3<br> 2.92%, 09/27/2049\*(9) | &nbsp;&nbsp; 68274 | &nbsp;&nbsp;&nbsp;&nbsp; 67289 |
| &nbsp;&nbsp;&nbsp;Towd Point Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-4, Class A1<br> 2.75%, 06/25/2057\*(9) | &nbsp;&nbsp; 146641 | &nbsp;&nbsp;&nbsp;&nbsp; 142821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-1, Class A1<br> 3.00%, 01/25/2058\*(9) | &nbsp;&nbsp; 13365 | &nbsp;&nbsp;&nbsp;&nbsp; 13198 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Commercial and Residential (continued)** | **Commercial and Residential (continued)** | **Commercial and Residential (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-2, Class A1B<br> 4.80%, 12/25/2064\*(9) | $982253 | &nbsp;&nbsp;$982449 |
| &nbsp;&nbsp;&nbsp;Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-INV1, Class A1<br> 6.00%, 02/25/2068\*(10) | &nbsp;&nbsp; 84074 | &nbsp;&nbsp;&nbsp;&nbsp; 83952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-INV1, Class A2<br> 6.32%, 03/25/2069\*(10) | &nbsp;&nbsp; 368094 | &nbsp;&nbsp;&nbsp;&nbsp; 369771 |
| &nbsp;&nbsp;&nbsp;Verus Securitization Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1, Class A1<br> 0.82%, 01/25/2066\*(9) | &nbsp;&nbsp; 95066 | &nbsp;&nbsp;&nbsp;&nbsp; 84416 |
| &nbsp;&nbsp;&nbsp;WB Commercial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2024-HQ, Class A<br> 5.94%, 03/15/2040\*(9) | &nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp; 255505 |
| &nbsp;&nbsp;&nbsp;Worldwide Plaza Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-WWP, Class A<br> 3.53%, 11/10/2036\* | &nbsp;&nbsp; 118131 | &nbsp;&nbsp;&nbsp;&nbsp; 84464 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15002553 |
| **U.S. Government Agency — 0.6%** | **U.S. Government Agency — 0.6%** | **U.S. Government Agency — 0.6%** |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. Multifamily Structured Pass Through Certs. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K068, Class A1<br> 2.95%, 02/25/2027 | &nbsp;&nbsp; 82567 | &nbsp;&nbsp;&nbsp;&nbsp; 81542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K-753, Class A2<br> 4.40%, 10/25/2030 | &nbsp;&nbsp; 1890000 | &nbsp;&nbsp;&nbsp;&nbsp; 1892313 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. Multifamily Structured Pass Through Certs. VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K137, Class A2<br> 2.35%, 11/25/2031(9) | &nbsp;&nbsp; 3380000 | &nbsp;&nbsp;&nbsp;&nbsp; 2992114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K-150, Class A2<br> 3.71%, 09/25/2032(9) | &nbsp;&nbsp; 1460000 | &nbsp;&nbsp;&nbsp;&nbsp; 1387137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series K-156, Class A2<br> 4.43%, 02/25/2033(9) | &nbsp;&nbsp; 1155000 | &nbsp;&nbsp;&nbsp;&nbsp; 1144919 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. REMIC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 4623, Class MF<br> 4.95%, (SOFR30A+0.61%), 10/15/2046 | &nbsp;&nbsp; 19566 | &nbsp;&nbsp;&nbsp;&nbsp; 19062 |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. Structured Agency Credit Risk REMIC Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-DNA7, Class M1<br> 5.20%, (SOFR30A+0.85%), 11/25/2041\* | &nbsp;&nbsp; 139714 | &nbsp;&nbsp;&nbsp;&nbsp; 139541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2025-HQA1, Class A1<br> 5.30%, (SOFR30A+0.95%), 02/25/2045\* | &nbsp;&nbsp; 112375 | &nbsp;&nbsp;&nbsp;&nbsp; 112299 |
| &nbsp;&nbsp;&nbsp;Government National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-8, Class DA<br> 3.00%, 11/20/2047 | &nbsp;&nbsp; 15269 | &nbsp;&nbsp;&nbsp;&nbsp; 14167 |
| &nbsp;&nbsp;&nbsp;Government National Mtg. Assoc. REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-63, Class LM<br> 3.50%, 10/20/2050 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 247019 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8030113 |
| **Total Collateralized Mortgage Obligations<br> (cost $23,526,908)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23032666 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 15.0%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 15.0%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 15.0%** |
| **U.S. Government — 8.9%** | **U.S. Government — 8.9%** | **U.S. Government — 8.9%** |
| &nbsp;&nbsp;&nbsp;United States Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13%, 05/15/2040 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 617383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38%, 08/15/2050 | &nbsp;&nbsp; 1280000 | &nbsp;&nbsp;&nbsp;&nbsp; 622200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.88%, 02/15/2051 | &nbsp;&nbsp; 2575000 | &nbsp;&nbsp;&nbsp;&nbsp; 1425705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 02/15/2050 to 08/15/2051 | &nbsp;&nbsp; 8085000 | &nbsp;&nbsp;&nbsp;&nbsp; 4648835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25%, 02/15/2052 | &nbsp;&nbsp; 1580000 | &nbsp;&nbsp;&nbsp;&nbsp; 950716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 05/15/2051 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 218736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 02/15/2046 | &nbsp;&nbsp; 1545000 | &nbsp;&nbsp;&nbsp;&nbsp; 1058687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 11/15/2046 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp;&nbsp;&nbsp; 1364722 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** |
| **U.S. Government (continued)** | **U.S. Government (continued)** | **U.S. Government (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 11/15/2045 to 08/15/2048 | $8165000 | &nbsp;&nbsp;$6020411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13%, 11/15/2041 to 02/15/2043 | &nbsp;&nbsp; 3560000 | &nbsp;&nbsp;&nbsp;&nbsp; 2870244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 02/15/2053 to 05/15/2053 | &nbsp;&nbsp; 4525000 | &nbsp;&nbsp;&nbsp;&nbsp; 3637700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 02/15/2043 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 487029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/15/2052 | &nbsp;&nbsp; 1445000 | &nbsp;&nbsp;&nbsp;&nbsp; 1245466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 08/15/2054 | &nbsp;&nbsp; 635000 | &nbsp;&nbsp;&nbsp;&nbsp; 571103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 05/15/2038 | &nbsp;&nbsp; 4210000 | &nbsp;&nbsp;&nbsp;&nbsp; 4218716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 02/15/2055 | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp;&nbsp;&nbsp; 1676445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75%, 02/15/2037 to 11/15/2053 | &nbsp;&nbsp; 1940000 | &nbsp;&nbsp;&nbsp;&nbsp; 1905416 |
| &nbsp;&nbsp;&nbsp;United States Treasury Bonds TIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75%, 02/15/2042 to 02/15/2045(11) | &nbsp;&nbsp; 645337 | &nbsp;&nbsp;&nbsp;&nbsp; 489021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38%, 02/15/2044(11) | &nbsp;&nbsp; 220678 | &nbsp;&nbsp;&nbsp;&nbsp; 183832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 02/15/2053(11) | &nbsp;&nbsp; 6921 | &nbsp;&nbsp;&nbsp;&nbsp; 5381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13%, 02/15/2054(11) | &nbsp;&nbsp; 382189 | &nbsp;&nbsp;&nbsp;&nbsp; 342997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 02/15/2055(11) | &nbsp;&nbsp; 5094 | &nbsp;&nbsp;&nbsp;&nbsp; 4831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 01/15/2029(11) | &nbsp;&nbsp; 149718 | &nbsp;&nbsp;&nbsp;&nbsp; 155634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 04/15/2029(11) | &nbsp;&nbsp; 488832 | &nbsp;&nbsp;&nbsp;&nbsp; 532788 |
| &nbsp;&nbsp;&nbsp;United States Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.63%, 08/15/2030 | &nbsp;&nbsp; 1230000 | &nbsp;&nbsp;&nbsp;&nbsp; 1043962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75%, 01/31/2028 | &nbsp;&nbsp; 1635000 | &nbsp;&nbsp;&nbsp;&nbsp; 1513333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.25%, 08/15/2031 | &nbsp;&nbsp; 1535000 | &nbsp;&nbsp;&nbsp;&nbsp; 1305290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.88%, 02/15/2032 | &nbsp;&nbsp; 515000 | &nbsp;&nbsp;&nbsp;&nbsp; 449317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.88%, 05/15/2032 | &nbsp;&nbsp; 1920000 | &nbsp;&nbsp;&nbsp;&nbsp; 1778025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.63%, 05/31/2028 to 08/31/2029 | &nbsp;&nbsp; 7810000 | &nbsp;&nbsp;&nbsp;&nbsp; 7752090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 04/30/2030 to 08/15/2034 | &nbsp;&nbsp; 6280000 | &nbsp;&nbsp;&nbsp;&nbsp; 6176849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 02/29/2028 to 02/28/2030(12) | &nbsp;&nbsp; 13680000 | &nbsp;&nbsp;&nbsp;&nbsp; 13715800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 06/30/2028 to 02/15/2034 | &nbsp;&nbsp; 15265000 | &nbsp;&nbsp;&nbsp;&nbsp; 15256412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 10/31/2027 to 11/30/2029 | &nbsp;&nbsp; 4890000 | &nbsp;&nbsp;&nbsp;&nbsp; 4926127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 02/28/2029 to 11/15/2034 | &nbsp;&nbsp; 8175000 | &nbsp;&nbsp;&nbsp;&nbsp; 8222081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 05/31/2029(12) | &nbsp;&nbsp; 7305000 | &nbsp;&nbsp;&nbsp;&nbsp; 7454810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 11/15/2033 | &nbsp;&nbsp; 1885000 | &nbsp;&nbsp;&nbsp;&nbsp; 1918429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 02/15/2035 | &nbsp;&nbsp; 5775000 | &nbsp;&nbsp;&nbsp;&nbsp; 5900426 |
| &nbsp;&nbsp;&nbsp;United States Treasury Notes TIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.13%, 07/15/2026 to 07/15/2030(11) | &nbsp;&nbsp; 1459702 | &nbsp;&nbsp;&nbsp;&nbsp; 1414853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.25%, 07/15/2029(11) | &nbsp;&nbsp; 188497 | &nbsp;&nbsp;&nbsp;&nbsp; 181187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.63%, 01/15/2026 to 07/15/2032(11) | &nbsp;&nbsp; 258030 | &nbsp;&nbsp;&nbsp;&nbsp; 256741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75%, 07/15/2028(11) | &nbsp;&nbsp; 166474 | &nbsp;&nbsp;&nbsp;&nbsp; 164487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.88%, 01/15/2029(11) | &nbsp;&nbsp; 172368 | &nbsp;&nbsp;&nbsp;&nbsp; 169757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13%, 01/15/2033(11) | &nbsp;&nbsp; 21582 | &nbsp;&nbsp;&nbsp;&nbsp; 20590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.25%, 04/15/2028(11) | &nbsp;&nbsp; 948419 | &nbsp;&nbsp;&nbsp;&nbsp; 946344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.38%, 07/15/2033(11) | &nbsp;&nbsp; 158760 | &nbsp;&nbsp;&nbsp;&nbsp; 153811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.63%, 10/15/2027 to 04/15/2030(11) | &nbsp;&nbsp; 4408209 | &nbsp;&nbsp;&nbsp;&nbsp; 4455075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.75%, 01/15/2034(11) | &nbsp;&nbsp; 935083 | &nbsp;&nbsp;&nbsp;&nbsp; 924554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.88%, 07/15/2034 to 07/15/2035(11) | &nbsp;&nbsp; 181951 | &nbsp;&nbsp;&nbsp;&nbsp; 180871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13%, 04/15/2029 to 01/15/2035(11) | &nbsp;&nbsp; 431810 | &nbsp;&nbsp;&nbsp;&nbsp; 442071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.38%, 10/15/2028(11) | &nbsp;&nbsp; 485375 | &nbsp;&nbsp;&nbsp;&nbsp; 503057 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122480347 |
| **U.S. Government Agency — 6.1%** | **U.S. Government Agency — 6.1%** | **U.S. Government Agency — 6.1%** |
| &nbsp;&nbsp;&nbsp;Federal Home Loan Mtg. Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 08/01/2036 to 05/01/2052 | &nbsp;&nbsp; 5962492 | &nbsp;&nbsp;&nbsp;&nbsp; 4779877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 03/01/2042 to 05/01/2052 | &nbsp;&nbsp; 4365704 | &nbsp;&nbsp;&nbsp;&nbsp; 3643528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 11/01/2034 to 09/01/2052 | &nbsp;&nbsp; 1727920 | &nbsp;&nbsp;&nbsp;&nbsp; 1505321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 06/01/2033 to 03/01/2046 | &nbsp;&nbsp; 97948 | &nbsp;&nbsp;&nbsp;&nbsp; 91775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 09/01/2045 to 04/01/2050 | &nbsp;&nbsp; 850373 | &nbsp;&nbsp;&nbsp;&nbsp; 793467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 12/01/2041 to 07/01/2054 | &nbsp;&nbsp; 710543 | &nbsp;&nbsp;&nbsp;&nbsp; 695863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 08/01/2053 to 10/01/2054 | &nbsp;&nbsp; 2884917 | &nbsp;&nbsp;&nbsp;&nbsp; 2886713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 08/01/2054 to 12/01/2054 | &nbsp;&nbsp; 1559565 | &nbsp;&nbsp;&nbsp;&nbsp; 1581792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 08/01/2054 to 01/01/2055 | &nbsp;&nbsp; 889619 | &nbsp;&nbsp;&nbsp;&nbsp; 919899 |
| &nbsp;&nbsp;&nbsp;Federal National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 04/01/2037 to 01/01/2042 | &nbsp;&nbsp; 2113577 | &nbsp;&nbsp;&nbsp;&nbsp; 1826887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 09/01/2036 to 03/01/2052 | &nbsp;&nbsp; 15730156 | &nbsp;&nbsp;&nbsp;&nbsp; 12771542 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 11/01/2031 to 04/01/2052 | $10113862 | &nbsp;&nbsp;$8517323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 01/01/2031 to 07/01/2050 | &nbsp;&nbsp; 5263409 | &nbsp;&nbsp;&nbsp;&nbsp; 4754236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 11/01/2032 to 01/01/2052 | &nbsp;&nbsp; 5224179 | &nbsp;&nbsp;&nbsp;&nbsp; 4820666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 12/01/2040 to 09/01/2052 | &nbsp;&nbsp; 3261110 | &nbsp;&nbsp;&nbsp;&nbsp; 3058811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 07/01/2040 to 07/01/2053 | &nbsp;&nbsp; 3012089 | &nbsp;&nbsp;&nbsp;&nbsp; 2899295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 10/01/2033 to 07/01/2053 | &nbsp;&nbsp; 1649723 | &nbsp;&nbsp;&nbsp;&nbsp; 1631401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 10/01/2035 to 10/01/2054 | &nbsp;&nbsp; 2289305 | &nbsp;&nbsp;&nbsp;&nbsp; 2313099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 09/01/2037 to 01/01/2055 | &nbsp;&nbsp; 3470490 | &nbsp;&nbsp;&nbsp;&nbsp; 3544775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50%, 03/01/2054 to 06/01/2055 | &nbsp;&nbsp; 2007071 | &nbsp;&nbsp;&nbsp;&nbsp; 2075442 |
| &nbsp;&nbsp;&nbsp;Government National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.50%, 12/20/2036 to 05/20/2037 | &nbsp;&nbsp; 206440 | &nbsp;&nbsp;&nbsp;&nbsp; 183867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.00%, 01/20/2051 to 01/20/2052 | &nbsp;&nbsp; 3670786 | &nbsp;&nbsp;&nbsp;&nbsp; 2964054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.50%, 08/20/2050 to 12/20/2051 | &nbsp;&nbsp; 3928128 | &nbsp;&nbsp;&nbsp;&nbsp; 3305615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.00%, 11/15/2042 to 06/20/2052 | &nbsp;&nbsp; 2798627 | &nbsp;&nbsp;&nbsp;&nbsp; 2451316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 08/20/2042 to 01/20/2049 | &nbsp;&nbsp; 1769202 | &nbsp;&nbsp;&nbsp;&nbsp; 1624674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 09/20/2045 to 10/20/2052 | &nbsp;&nbsp; 1355790 | &nbsp;&nbsp;&nbsp;&nbsp; 1263112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 04/20/2041 to 04/20/2053 | &nbsp;&nbsp; 1397523 | &nbsp;&nbsp;&nbsp;&nbsp; 1339864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, 08/20/2042 to 08/20/2052 | &nbsp;&nbsp; 960915 | &nbsp;&nbsp;&nbsp;&nbsp; 951374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, August 30 TBA | &nbsp;&nbsp; 465000 | &nbsp;&nbsp;&nbsp;&nbsp; 453768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 03/20/2048 to 03/20/2049 | &nbsp;&nbsp; 226743 | &nbsp;&nbsp;&nbsp;&nbsp; 230412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, August 30 TBA | &nbsp;&nbsp; 1935000 | &nbsp;&nbsp;&nbsp;&nbsp; 1929777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, 09/20/2052 to 11/20/2052 | &nbsp;&nbsp; 397168 | &nbsp;&nbsp;&nbsp;&nbsp; 405554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00%, August 30 TBA | &nbsp;&nbsp; 280000 | &nbsp;&nbsp;&nbsp;&nbsp; 283751 |
| &nbsp;&nbsp;&nbsp;Uniform Mtg. Backed Securities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, August 30 TBA | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 474247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00%, August 30 TBA | &nbsp;&nbsp; 2050000 | &nbsp;&nbsp;&nbsp;&nbsp; 1995055 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84968152 |
| **Total U.S. Government & Agency Obligations<br> (cost $227,110,935)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207448499 |
| **FOREIGN GOVERNMENT OBLIGATIONS — 0.4%** | **FOREIGN GOVERNMENT OBLIGATIONS — 0.4%** | **FOREIGN GOVERNMENT OBLIGATIONS — 0.4%** |
| **Regional(State/Province) — 0.2%** | **Regional(State/Province) — 0.2%** | **Regional(State/Province) — 0.2%** |
| &nbsp;&nbsp;&nbsp;Province of Alberta Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 03/15/2028 | &nbsp;&nbsp; 555000 | &nbsp;&nbsp;&nbsp;&nbsp; 544590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 01/24/2034 | &nbsp;&nbsp; 420000 | &nbsp;&nbsp;&nbsp;&nbsp; 417185 |
| &nbsp;&nbsp;&nbsp;Province of British Columbia Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.20%, 07/06/2033 | &nbsp;&nbsp; 819000 | &nbsp;&nbsp;&nbsp;&nbsp; 801153 |
| &nbsp;&nbsp;&nbsp;Province of Manitoba Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.30%, 07/27/2033 | &nbsp;&nbsp; 830000 | &nbsp;&nbsp;&nbsp;&nbsp; 814637 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2577565 |
| **Sovereign — 0.2%** | **Sovereign — 0.2%** | **Sovereign — 0.2%** |
| &nbsp;&nbsp;&nbsp;Republic of Panama |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30%, 01/19/2033 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 822500 |
| &nbsp;&nbsp;&nbsp;Republic of Peru |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.38%, 02/08/2035 | &nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp; 189158 |
| &nbsp;&nbsp;&nbsp;Republic of Poland |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25%, 04/06/2026 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 109196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.50%, 03/18/2054 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 373928 |
| &nbsp;&nbsp;&nbsp;State of Qatar |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.75%, 04/16/2030\* | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 195876 |
| &nbsp;&nbsp;&nbsp;United Mexican States |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.66%, 05/24/2031 | &nbsp;&nbsp; 639000 | &nbsp;&nbsp;&nbsp;&nbsp; 550383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 02/12/2034 | &nbsp;&nbsp; 775000 | &nbsp;&nbsp;&nbsp;&nbsp; 649062 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2890103 |
| **Total Foreign Government Obligations<br> (cost $5,874,383)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5467668 |
| **MUNICIPAL SECURITIES — 0.6%** | **MUNICIPAL SECURITIES — 0.6%** | **MUNICIPAL SECURITIES — 0.6%** |
| &nbsp;&nbsp;&nbsp;California State Public Works Board<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.80%, 03/01/2035 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 335362 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **MUNICIPAL SECURITIES (continued)** | **MUNICIPAL SECURITIES (continued)** | **MUNICIPAL SECURITIES (continued)** |
| &nbsp;&nbsp;&nbsp;County of Fulton GA<br> General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.15%, 07/01/2039 | $805000 | &nbsp;&nbsp;$797267 |
| &nbsp;&nbsp;&nbsp;Detroit City School District<br> General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.65%, 05/01/2029 | &nbsp;&nbsp; 295000 | &nbsp;&nbsp;&nbsp;&nbsp; 314686 |
| &nbsp;&nbsp;&nbsp;Florida Development Finance Corp.<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.11%, 04/01/2050 | &nbsp;&nbsp; 810000 | &nbsp;&nbsp;&nbsp;&nbsp; 642088 |
| &nbsp;&nbsp;&nbsp;Grand Parkway Transportation Corp.<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.24%, 10/01/2052 | &nbsp;&nbsp; 390000 | &nbsp;&nbsp;&nbsp;&nbsp; 263332 |
| &nbsp;&nbsp;&nbsp;Metropolitan Water Reclamation District of Greater Chicago<br> General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.72%, 12/01/2038 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 385142 |
| &nbsp;&nbsp;&nbsp;Municipal Electric Authority of Georgia<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.66%, 04/01/2057 | &nbsp;&nbsp; 1016000 | &nbsp;&nbsp;&nbsp;&nbsp; 1088650 |
| &nbsp;&nbsp;&nbsp;New York State Dormitory Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 07/01/2046 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 154905 |
| &nbsp;&nbsp;&nbsp;Northern California Power Agency<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.31%, 06/01/2040 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 333998 |
| &nbsp;&nbsp;&nbsp;Public Finance Authority<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.41%, 07/01/2051 | &nbsp;&nbsp; 930000 | &nbsp;&nbsp;&nbsp;&nbsp; 634434 |
| &nbsp;&nbsp;&nbsp;San Jose Redevelopment Agency Successor Agency<br> Tax Allocation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 08/01/2034 | &nbsp;&nbsp; 285000 | &nbsp;&nbsp;&nbsp;&nbsp; 262555 |
| &nbsp;&nbsp;&nbsp;State of California<br> General Obligation Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.50%, 04/01/2034 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 347240 |
| &nbsp;&nbsp;&nbsp;State of Wisconsin<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.95%, 05/01/2036 | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp; 787604 |
| &nbsp;&nbsp;&nbsp;Texas A&M University<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.33%, 05/15/2039 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 931108 |
| &nbsp;&nbsp;&nbsp;Western Minnesota Municipal Power Agency<br> Revenue Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.16%, 01/01/2039 | &nbsp;&nbsp; 770000 | &nbsp;&nbsp;&nbsp;&nbsp; 641029 |
| **Total Municipal Securities<br> (cost $9,233,943)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7919400 |
| **PURCHASED OPTIONS† — 0.3%** | **PURCHASED OPTIONS† — 0.3%** | **PURCHASED OPTIONS† — 0.3%** |
| **Purchased Options - Puts — 0.3%** | **Purchased Options - Puts — 0.3%** | **Purchased Options - Puts — 0.3%** |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the S&P 500 Index (Expiration Date: 12/19/2025; Strike Price: $4,800.00; Counterparty: Goldman Sachs International)<br> (cost $10,646,037) | &nbsp;&nbsp; 1748 | &nbsp;&nbsp;&nbsp;&nbsp; 4610495 |
| **WARRANTS — 0.0%** | **WARRANTS — 0.0%** | **WARRANTS — 0.0%** |
| **Mining — 0.0%** | **Mining — 0.0%** | **Mining — 0.0%** |
| &nbsp;&nbsp;&nbsp;Ivanhoe Electric, Inc.<br> Expires 02/11/2026†<br> (cost $45) | &nbsp;&nbsp; 4543 | &nbsp;&nbsp;&nbsp;&nbsp; 11630 |
| **Total Long-Term Investment Securities<br> (cost $1,034,413,466)** |  | &nbsp;&nbsp;&nbsp;&nbsp;1212916881 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **SHORT-TERM INVESTMENTS — 12.0%** | **SHORT-TERM INVESTMENTS — 12.0%** |  |
| **Unaffiliated Investment Companies — 12.0%** | **Unaffiliated Investment Companies — 12.0%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(13)<br> (cost $164,904,293) | 164904293 | &nbsp;&nbsp;$164904293 |
| **TOTAL INVESTMENTS<br> (cost $1,199,317,759)(14)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.9% | &nbsp;&nbsp;&nbsp;&nbsp;1377821174 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1168002 |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$1378989176 |

---

---

| | |
|:---|:---|
| † | &nbsp;&nbsp;Non-income producing security |
| \* | &nbsp;&nbsp;Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The SA T. Rowe Price VCP Balanced Portfolio has no right to demand registration of these securities. At July 31, 2025, the aggregate value of these securities was $91,336,367 representing 6.6% of net assets. |
| (1) | &nbsp;&nbsp;Securities classified as Level 3 (see Note 2). |
| (2) | &nbsp;&nbsp;Denotes a restricted security that: (a) cannot be offered for public sale without first being registered, or being able to take advantage of an exemption from registration, under the Securities Act of 1933, as amended (the "1933 Act"); (b) is subject to a contractual restriction on public sales; or (c) is otherwise subject to a restriction on sales by operation of applicable law. Restricted securities are valued pursuant to Note 2. Certain restricted securities held by the Portfolio may not be sold except in exempt transactions or in a public offering registered under the 1933 Act. The Portfolio has no right to demand registration of these securities. The risk of investing in certain restricted securities is greater than the risk of investing in the securities of widely held, publicly traded companies. To the extent applicable, lack of a secondary market and resale restrictions may result in the inability of a Portfolio to sell a security at a fair price and may substantially delay the sale of the security. In addition, certain restricted securities may exhibit greater price volatility than securities for which secondary markets exist. As of July 31, 2025, the Portfolio held the following restricted securities: |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition<br> Date** | **Shares or<br> Principal<br> Amount** | **Acquisition<br> Cost** | **Value** | **Value<br> Per Share** | **% of<br> Net Assets** |
| **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** |
| Alrosa PJSC |  |  |  |  |  |  |
|  | 03/13/2020 | &nbsp;&nbsp;13940 | $12372 |  |  |  |
|  | 03/18/2020 | &nbsp;&nbsp;23690 | &nbsp;&nbsp;17711 |  |  |  |
|  | 06/09/2021 | &nbsp;&nbsp;30700 | &nbsp;&nbsp;54716 |  |  |  |
|  | 06/10/2021 | &nbsp;&nbsp;32960 | &nbsp;&nbsp;60799 |  |  |  |
|  | 06/22/2021 | &nbsp;&nbsp;20570 | &nbsp;&nbsp;38776 |  |  |  |
|  |  | 121860 | 184374 | $0 | $0.00 | 0.0% |
| Canva, Inc. |  |  |  |  |  |  |
|  | 08/16/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;59645 |  |  |  |
|  | 11/04/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62 | 105695 |  |  |  |
|  | 12/17/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;39196 |  |  |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | 204536 | &nbsp;&nbsp;&nbsp;&nbsp;165011 | &nbsp;&nbsp;1704.47 | 0.0 |
| Definity Financial Corp. | 05/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;1831 | &nbsp;&nbsp;88208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51.18 | 0.0 |
| Farmer's Business Network, Inc. | 11/03/2017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413 | &nbsp;&nbsp;&nbsp;&nbsp;7626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00 | 0.0 |
| Gusto, Inc. | 10/04/2021 | &nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;66213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.50 | 0.0 |
| Polyus PJSC |  |  |  |  |  |  |
|  | 03/27/2020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790 | &nbsp;&nbsp;11067 |  |  |  |
|  | 04/03/2020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680 | &nbsp;&nbsp;&nbsp;&nbsp;9043 |  |  |  |
|  | 06/09/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;7330 |  |  |  |
|  | 06/10/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp;&nbsp;&nbsp;9989 |  |  |  |
|  | 06/11/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp;&nbsp;9073 |  |  |  |
|  | 06/22/2021 | &nbsp;&nbsp;&nbsp;&nbsp;1550 | &nbsp;&nbsp;31068 |  |  |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4280 | &nbsp;&nbsp;77570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00 | 0.0 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition<br> Date** | **Shares or<br> Principal<br> Amount** | **Acquisition<br> Cost** | **Value** | **Value<br> Per Share** | **% of<br> Net Assets** |
| **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** |
| Canva, Inc. |  |  |  |  |  |  |
|  | 11/04/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | $10229 |  |  |  |
|  | 12/17/2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;3408 |  |  |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;13637 | $11000 | $1704.61 | 0.0% |
| Databricks, Inc.<br> Series G | 02/01/2021 | &nbsp;&nbsp;&nbsp;&nbsp;1206 | &nbsp;&nbsp;71302 | &nbsp;&nbsp;&nbsp;&nbsp;125056 | &nbsp;&nbsp;&nbsp;&nbsp;103.70 | 0.0 |
| Databricks, Inc.<br> Series H | 08/31/2021 | &nbsp;&nbsp;&nbsp;&nbsp;2613 | 192014 | &nbsp;&nbsp;&nbsp;&nbsp;270955 | &nbsp;&nbsp;&nbsp;&nbsp;103.70 | 0.0 |
| Farmer's Business Network, Inc.<br> Series D | 11/03/2017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;2769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.00 | 0.0 |
| Gusto, Inc.<br> Series E | 07/13/2021 | &nbsp;&nbsp;&nbsp;&nbsp;3216 | &nbsp;&nbsp;97751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.50 | 0.0 |
| KoBold Metals Co. | 01/10/2022 | &nbsp;&nbsp;&nbsp;&nbsp;3900 | 106903 | &nbsp;&nbsp;&nbsp;&nbsp;331316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84.95 | 0.1 |
| Lilac Solutions, Inc.<br> Series B | 09/08/2021 | &nbsp;&nbsp;&nbsp;&nbsp;4155 | &nbsp;&nbsp;54547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.29 | 0.0 |
|  |  |  |  | $1176310 |  | 0.1%\*\* |

---

\*\* Amount represents the total value of the restricted securities divided by the net assets of the Portfolio and may not equal the sum of the individual percentages shown due to rounding.

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

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

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

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

(7) The Portfolio invests in senior loans which generally pay interest at rates which are periodically re-determined by reference to a base lending rate plus a premium. The rate shown
represents the rate at the end of the period. Senior loans are generally considered to be restrictive in that the Portfolio is ordinarily contractually obligated to receive approval from the Agent Bank and/or
borrower prior to the disposition of a senior loan.

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

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

(10) "Step-up" security where the rate increases ("steps-up") at a predetermined rate. The rate reflected is as of July 31, 2025.

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

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

(13) The rate shown is the 7-day yield as of July 31, 2025.

(14) See Note 4 for cost of investments on a tax basis.

---

| |
|:---|
| ADR—American Depositary Receipt |
| ASX—Australian Stock Exchange |
| CLO—Collateralized Loan Obligation |
| CVA—Certification Van Aandelen (Dutch Cert.) |
| DAC—Designated Activity Company |
| FRS—Floating Rate Security |
| GDR—Global Depositary Receipt |
| JSE—Johannesburg Stock Exchange |
| LSE—London Stock Exchange |
| NASDAQ—National Association of Securities Dealers Automated Quotations |
| NYSE—New York Stock Exchange |
| REMIC—Real Estate Mortgage Investment Conduit |
| SDR—Swedish Depositary Receipt |
| SOFR30A—US 30 Day Average Secured Overnight Financing Rate |
| TBA—Securities purchased on a forward commitment basis with an approximate principal amount and no definite maturity date. The actual principal amount and maturity date will be determined upon settlement date. |
| TIPS—Treasury Inflation Protected Securities |
| TSFR1M—Term Secured Overnight Financing Rate 1 Month |
| TSFR3M—Term Secured Overnight Financing Rate 3 Month |
| TSFR6M—Term Secured Overnight Financing Rate 6 Month |
| TSX—Toronto Stock Exchange |
| VRS—Variable Rate Security |
| XAMS—Euronext Amsterdam Stock Exchange |

---

The rates shown on FRS and/or VRS are the current interest rates at July 31, 2025 and unless noted otherwise, the dates shown are the original maturity dates.

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** |
| **Counterparty (OTC)/<br> Centrally cleared** | **Reference<br> obligation** | &nbsp;&nbsp;**Implied<br> credit<br> spread(2)** | **Notional<br> amount(3)** | **Currency** | **USD<br> notional<br> amount(3)** | **Received<br> fixed<br> rate** | **Fixed<br> payment<br> frequency** | **Maturity<br> date** | **Upfront<br> payment paid<br> (received)** | **Unrealized<br> appreciation<br> (depreciation)** | **Value(4)** |
| Centrally Cleared | CDX Investment Grade Index Series 43 | &nbsp;&nbsp;0.455% | 7400000 | USD | &nbsp;&nbsp;&nbsp; 7400000 | 1.000% | Quarterly | Dec 2029 | $151745 | $10699 | $162444 |
| Centrally Cleared | CDX Investment Grade Index Series 44 | &nbsp;&nbsp;0.512 | 6800000 | USD | &nbsp;&nbsp;&nbsp; 6800000 | 1.000 | Quarterly | Jun 2030 | &nbsp;&nbsp;&nbsp;&nbsp;150252 | &nbsp;&nbsp;&nbsp;(3213) | &nbsp;&nbsp;&nbsp;&nbsp;147039 |
|  |  |  |  |  | 14200000 |  |  |  | $301997 | $7486 | $309483 |

---

(1) If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of
protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the
swap less the recovery value of the referenced obligation.

(2) Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues, credit indices or sovereign
issues of an emerging country as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit
spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration
of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as
"Defaulted" indicates a credit event has occurred for the referenced entity or obligation.

(3) The maximum potential amount the Portfolio could be required to make as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined
under the terms of that particular swap agreement.

(4) The quoted market prices and resulting values for credit default swap agreements on asset-backed securities and credit indices serve as an indicator of the current
status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement have been closed/sold as of the
period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of
default or other credit event occurring as defined under the terms of the agreement.

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

USD—United States Dollar

#### Futures Contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number<br> of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Expiration<br> Month** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Basis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Value\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation** |
| 674 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;S&P 500 E-Mini Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$204298847 | &nbsp;&nbsp;&nbsp;&nbsp;$214812225 | &nbsp;&nbsp;&nbsp;&nbsp;$10513378 |
| 97 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;U.S. Treasury 2 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20100081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20077484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22597 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$10535975 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
| 565 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;MSCI EAFE Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$74685965 | &nbsp;&nbsp;&nbsp;&nbsp;$73828550 | &nbsp;&nbsp;&nbsp;&nbsp;$(857415) |
| 325 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;U.S. Treasury 10 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35790164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36095313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (305149) |
| 133 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;U.S. Treasury 5 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14346046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14386860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (40814) |
| 161 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;U.S. Treasury Long Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17922342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18384188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (461846) |
| 15 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra 10 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1694158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1696172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2014) |
| 50 | &nbsp;&nbsp;&nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5702843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5865625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (162782) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$(1830020) |
|  |  | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) |  | &nbsp;&nbsp;&nbsp;&nbsp;$8705955 |

---

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

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA T. Rowe Price VCP Balanced Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Agriculture | &nbsp;&nbsp;$1228498 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$0 | &nbsp;&nbsp;$1228498 |
| &nbsp;&nbsp;&nbsp;Commercial Services | &nbsp;&nbsp;&nbsp;&nbsp;12557361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12616011 |
| &nbsp;&nbsp;&nbsp;Computer Graphics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165011 |
| &nbsp;&nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;41981746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42075460 |
| &nbsp;&nbsp;&nbsp;Mining | &nbsp;&nbsp;&nbsp;&nbsp;21118220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21277135 |
| &nbsp;&nbsp;&nbsp;Other Industries | &nbsp;&nbsp;&nbsp;&nbsp;731692307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731692307 |
| Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484589 |
| Convertible Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858935 |
| Corporate Bonds & Notes: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Agriculture | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256578 |
| &nbsp;&nbsp;&nbsp;Other Industries | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;134415554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134415554 |
| Loans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3729189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3729189 |
| Asset Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;15627256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15627256 |
| Collateralized Mortgage Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;23032666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23032666 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;207448499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207448499 |
| Foreign Government Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5467668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5467668 |
| Municipal Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7919400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7919400 |
| Purchased Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4610495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4610495 |
| Warrants | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11630 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;164904293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164904293 |
| **Total Investments at Value** | &nbsp;&nbsp;$973494055 | &nbsp;&nbsp;$403244523 | &nbsp;&nbsp;$1082596 | &nbsp;&nbsp;$1377821174 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Swaps | &nbsp;&nbsp;$— | &nbsp;&nbsp;$10699 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$10699 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;10535975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10535975 |
| **Total Other Financial Instruments** | &nbsp;&nbsp;$10535975 | &nbsp;&nbsp;$10699 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$10546674 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Swaps | &nbsp;&nbsp;$— | &nbsp;&nbsp;$3213 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$3213 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1830020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1830020 |
| **Total Other Financial Instruments** | &nbsp;&nbsp;$1830020 | &nbsp;&nbsp;$3213 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1833233 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | &nbsp;&nbsp;Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

Level 3 investments in securities were not considered a significant portion of the Portfolio's net assets.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA VCP Dynamic Allocation Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **AFFILIATED INVESTMENT COMPANIES#(1) — 84.2%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 84.2%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 84.2%** |
| **Domestic Equity Investment Companies — 51.9%** | **Domestic Equity Investment Companies — 51.9%** | **Domestic Equity Investment Companies — 51.9%** |
| &nbsp;&nbsp;&nbsp;Seasons Series Trust SA Columbia Focused Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;7075658 | &nbsp;&nbsp;$144272669 |
| &nbsp;&nbsp;&nbsp;Seasons Series Trust SA Multi-Managed Large Cap Growth Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;9716557 | &nbsp;&nbsp;&nbsp;&nbsp; 156242241 |
| &nbsp;&nbsp;&nbsp;Seasons Series Trust SA Multi-Managed Large Cap Value Portfolio, Class 1 | 12259583 | &nbsp;&nbsp;&nbsp;&nbsp; 154715932 |
| &nbsp;&nbsp;&nbsp;Seasons Series Trust SA Multi-Managed Mid Cap Growth Portfolio, Class 1† | &nbsp;&nbsp;&nbsp;&nbsp;4472360 | &nbsp;&nbsp;&nbsp;&nbsp; 74554244 |
| &nbsp;&nbsp;&nbsp;Seasons Series Trust SA Multi-Managed Mid Cap Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;6811306 | &nbsp;&nbsp;&nbsp;&nbsp; 116541451 |
| &nbsp;&nbsp;&nbsp;Seasons Series Trust SA Multi-Managed Small Cap Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;4344980 | &nbsp;&nbsp;&nbsp;&nbsp; 48403080 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA AB Growth Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;4618848 | &nbsp;&nbsp;&nbsp;&nbsp; 310109483 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA AB Small & Mid Cap Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761033 | &nbsp;&nbsp;&nbsp;&nbsp; 9931484 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Fidelity Institutional AM® Real Estate Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;3993596 | &nbsp;&nbsp;&nbsp;&nbsp; 49919954 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Franklin BW U.S. Large Cap Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;9971845 | &nbsp;&nbsp;&nbsp;&nbsp; 220278063 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Franklin Small Company Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;4117027 | &nbsp;&nbsp;&nbsp;&nbsp; 69577756 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Franklin Systematic U.S. Large Cap Core Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;6396891 | &nbsp;&nbsp;&nbsp;&nbsp; 154868720 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Franklin Systematic U.S. Large Cap Value Portfolio, Class 1 | 10507102 | &nbsp;&nbsp;&nbsp;&nbsp; 143737153 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Invesco Growth Opportunities Portfolio, Class 1† | 13524557 | &nbsp;&nbsp;&nbsp;&nbsp; 96700579 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Janus Focused Growth Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;6982080 | &nbsp;&nbsp;&nbsp;&nbsp; 163520322 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA JPMorgan Equity-Income Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;4841246 | &nbsp;&nbsp;&nbsp;&nbsp; 168572186 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA JPMorgan Large Cap Core Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;6318436 | &nbsp;&nbsp;&nbsp;&nbsp; 158782289 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA JPMorgan Mid Cap Growth Portfolio, Class 1† | &nbsp;&nbsp;&nbsp;&nbsp;4977951 | &nbsp;&nbsp;&nbsp;&nbsp; 105482773 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Large Cap Growth Index Portfolio, Class 1 | 12467559 | &nbsp;&nbsp;&nbsp;&nbsp; 405819044 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Large Cap Index Portfolio, Class 1 | 22957955 | &nbsp;&nbsp;&nbsp;&nbsp; 981682173 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Large Cap Value Index Portfolio, Class 1 | 15378178 | &nbsp;&nbsp;&nbsp;&nbsp; 299720686 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA MFS Large Cap Growth, Class 1 | 17427439 | &nbsp;&nbsp;&nbsp;&nbsp; 319793497 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA MFS Massachusetts Investors Trust Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;5559329 | &nbsp;&nbsp;&nbsp;&nbsp; 127419815 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Mid Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;3722317 | &nbsp;&nbsp;&nbsp;&nbsp; 58291485 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Small Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;3395279 | &nbsp;&nbsp;&nbsp;&nbsp; 44613967 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Wellington Capital Appreciation Portfolio, Class 1† | &nbsp;&nbsp;&nbsp;&nbsp;3505706 | &nbsp;&nbsp;&nbsp;&nbsp; 171674446 |
| **Total Domestic Equity Investment Companies<br> (cost $3,866,045,769)** |  | &nbsp;&nbsp;&nbsp;&nbsp;4755225492 |
| **Domestic Fixed Income Investment Companies — 23.1%** | **Domestic Fixed Income Investment Companies — 23.1%** | **Domestic Fixed Income Investment Companies — 23.1%** |
| &nbsp;&nbsp;&nbsp;Seasons Series Trust SA American Century Inflation Managed Portfolio, Class 1 | 14826016 | &nbsp;&nbsp;&nbsp;&nbsp; 131506763 |
| &nbsp;&nbsp;&nbsp;Seasons Series Trust SA Multi-Managed Diversified Fixed Income Portfolio, Class 1 | 44225644 | &nbsp;&nbsp;&nbsp;&nbsp; 451543829 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Federated Hermes Corporate Bond Portfolio, Class 1 | 19511200 | &nbsp;&nbsp;&nbsp;&nbsp; 232378387 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Domestic Fixed Income Investment Companies (continued)** | **Domestic Fixed Income Investment Companies (continued)** | **Domestic Fixed Income Investment Companies (continued)** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Fixed Income Index Portfolio, Class 1 | &nbsp;&nbsp; 10104074 | &nbsp;&nbsp;$97504316 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio, Class 1 | &nbsp;&nbsp; 10466716 | &nbsp;&nbsp;&nbsp;&nbsp; 107388509 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio, Class 1 | &nbsp;&nbsp; 72615318 | &nbsp;&nbsp;&nbsp;&nbsp; 604159444 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA JPMorgan Ultra-Short Bond Portfolio, Class 1 | &nbsp;&nbsp; 4995031 | &nbsp;&nbsp;&nbsp;&nbsp; 55195090 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA PineBridge High-Yield Bond Portfolio, Class 1 | &nbsp;&nbsp; 8846948 | &nbsp;&nbsp;&nbsp;&nbsp; 47950460 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Wellington Government & Quality Bond Portfolio, Class 1 | &nbsp;&nbsp; 29790742 | &nbsp;&nbsp;&nbsp;&nbsp; 394429417 |
| **Total Domestic Fixed Income Investment Companies<br> (cost $2,259,666,296)** |  | &nbsp;&nbsp;&nbsp;&nbsp;2122056215 |
| **International Equity Investment Companies — 9.0%** | **International Equity Investment Companies — 9.0%** | **International Equity Investment Companies — 9.0%** |
| &nbsp;&nbsp;&nbsp;Seasons Series Trust SA Multi-Managed International Equity Portfolio, Class 1 | &nbsp;&nbsp; 13431409 | &nbsp;&nbsp;&nbsp;&nbsp; 131493499 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Emerging Markets Equity Index Portfolio, Class 1 | &nbsp;&nbsp; 1544029 | &nbsp;&nbsp;&nbsp;&nbsp; 25831599 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Fidelity Institutional AM® International Growth Portfolio, Class 1 | &nbsp;&nbsp; 6219814 | &nbsp;&nbsp;&nbsp;&nbsp; 132482046 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA International Index Portfolio, Class 1 | &nbsp;&nbsp; 7852467 | &nbsp;&nbsp;&nbsp;&nbsp; 118572250 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA JPMorgan Emerging Markets Portfolio, Class 1 | &nbsp;&nbsp; 3095142 | &nbsp;&nbsp;&nbsp;&nbsp; 29280045 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA JPMorgan Global Equities Portfolio, Class 1 | &nbsp;&nbsp; 6589569 | &nbsp;&nbsp;&nbsp;&nbsp; 155843303 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Morgan Stanley International Equities Portfolio, Class 1 | &nbsp;&nbsp; 10889746 | &nbsp;&nbsp;&nbsp;&nbsp; 121202870 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA PIMCO RAE International Value Portfolio, Class 1 | &nbsp;&nbsp; 2675213 | &nbsp;&nbsp;&nbsp;&nbsp; 42161359 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Putnam International Value Portfolio, Class 1 | &nbsp;&nbsp; 4987285 | &nbsp;&nbsp;&nbsp;&nbsp; 69672366 |
| **Total International Equity Investment Companies<br> (cost $676,855,115)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826539337 |
| **International Fixed Income Investment Companies — 0.2%** | **International Fixed Income Investment Companies — 0.2%** | **International Fixed Income Investment Companies — 0.2%** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA PIMCO Global Bond Opportunities Portfolio, Class 1<br> (cost $19,303,734) | &nbsp;&nbsp; 1896633 | &nbsp;&nbsp;&nbsp;&nbsp; 18150779 |
| **Total Affiliated Investment Companies<br> (cost $6,821,870,914)** |  | &nbsp;&nbsp;&nbsp;&nbsp;7721971823 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 12.5%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 12.5%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 12.5%** |
| **U.S. Government — 12.5%** | **U.S. Government — 12.5%** | **U.S. Government — 12.5%** |
| &nbsp;&nbsp;&nbsp;United States Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 05/15/2033 | $109274400 | &nbsp;&nbsp;&nbsp;&nbsp; 103251502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 02/15/2033 | &nbsp;&nbsp; 57596800 | &nbsp;&nbsp;&nbsp;&nbsp; 55054441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 08/15/2033(2) | &nbsp;&nbsp;219189100 | &nbsp;&nbsp;&nbsp;&nbsp; 213923424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 08/15/2034 | &nbsp;&nbsp; 90268000 | &nbsp;&nbsp;&nbsp;&nbsp; 87327238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 02/15/2034 | &nbsp;&nbsp;238430400 | &nbsp;&nbsp;&nbsp;&nbsp; 233820124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 11/15/2034 to 05/15/2035 | &nbsp;&nbsp;108851500 | &nbsp;&nbsp;&nbsp;&nbsp; 107938819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 05/15/2034 | &nbsp;&nbsp;228129400 | &nbsp;&nbsp;&nbsp;&nbsp; 229510653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 11/15/2033 | &nbsp;&nbsp; 91663800 | &nbsp;&nbsp;&nbsp;&nbsp; 93289401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 02/15/2035 | &nbsp;&nbsp; 21526800 | &nbsp;&nbsp;&nbsp;&nbsp; 21994335 |
| **Total U.S. Government & Agency Obligations<br> (cost $1,151,028,892)** |  | &nbsp;&nbsp;&nbsp;&nbsp;1146109937 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA VCP Dynamic Allocation Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **PURCHASED OPTIONS† — 0.8%** | **PURCHASED OPTIONS† — 0.8%** | **PURCHASED OPTIONS† — 0.8%** |
| **Purchased Options - Puts — 0.8%** | **Purchased Options - Puts — 0.8%** | **Purchased Options - Puts — 0.8%** |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the S&P 500 Index (Expiration Date: 01/16/2026; Strike Price: $5,400.00; Counterparty: Goldman Sachs International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;$14337130 |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the S&P 500 Index (Expiration Date: 01/16/2026; Strike Price: $5,400.00; Counterparty: JPMorgan Chase Bank, N.A.) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp; 4561814 |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the S&P 500 Index (Expiration Date: 01/16/2026; Strike Price: $5,475.00; Counterparty: Goldman Sachs International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp; 15031438 |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the S&P 500 Index (Expiration Date: 02/20/2026; Strike Price: $5,675.00; Counterparty: Citibank, N.A.) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310000 | &nbsp;&nbsp;&nbsp;&nbsp; 33948433 |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the S&P 500 Index (Expiration Date: 12/19/2025; Strike Price: $5,400.00; Counterparty: Goldman Sachs International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp; 2436810 |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the S&P 500 Index (Expiration Date: 12/19/2025; Strike Price: $5,400.00; Counterparty: JPMorgan Chase Bank, N.A.) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp; 2707567 |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the S&P 500 Index (Expiration Date: 12/19/2025; Strike Price: $5,400.00; Counterparty: UBS AG) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp; 4602864 |
| **Total Purchased Options<br> (cost $105,891,924)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77626056 |
| **Total Long-Term Investment Securities<br> (cost $8,078,791,730)** |  | &nbsp;&nbsp;&nbsp;&nbsp;8945707816 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **SHORT-TERM INVESTMENTS — 3.2%** | **SHORT-TERM INVESTMENTS — 3.2%** |  |
| **Unaffiliated Investment Companies — 3.2%** | **Unaffiliated Investment Companies — 3.2%** |  |
| &nbsp;&nbsp;&nbsp;AllianceBernstein Government STIF Portfolio, Class AB<br> 4.36%(3)<br> (cost $289,348,257) | 289348257 | &nbsp;&nbsp;$289348257 |
| **TOTAL INVESTMENTS<br> (cost $8,368,139,987)(4)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.7% | &nbsp;&nbsp;&nbsp;&nbsp;9235056073 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.7) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(61243142) |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$9173812931 |

---

---

| | |
|:---|:---|
| # | &nbsp;&nbsp;The SunAmerica Series Trust SA VCP Dynamic Allocation Portfolio invests in Class 1 shares of the underlying Portfolios, which are Portfolios of SunAmerica Series Trust and Seasons Series Trust, some of which are not presented in this report. Additional information on the underlying Portfolios, including such portfolios' prospectuses and shareholder reports are available on our website, www.corebridgefinancial.com/getprospectus. |
| † | &nbsp;&nbsp;Non-income producing security |
| (1) | &nbsp;&nbsp;See Note 8. |
| (2) | &nbsp;&nbsp;The security or a portion thereof was pledged as collateral to cover margin requirements for open futures contracts. |
| (3) | &nbsp;&nbsp;The rate shown is the 7-day yield as of July 31, 2025. |
| (4) | &nbsp;&nbsp;See Note 4 for cost of investments on a tax basis. |

---

STIF—Short Term Investment Fund

#### Futures Contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number<br> of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Expiration<br> Month** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Basis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Value\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation** |
| 4800 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;S&P 500 E-Mini Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$1487294567 | &nbsp;&nbsp;&nbsp;&nbsp;$1529820000 | &nbsp;&nbsp;&nbsp;&nbsp;$42525433 |

---

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

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Affiliated Investment Companies | &nbsp;&nbsp;$7721971823 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$7721971823 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1146109937 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1146109937 |
| Purchased Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77626056 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77626056 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289348257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289348257 |
| **Total Investments at Value** | &nbsp;&nbsp;$8011320080 | &nbsp;&nbsp;$1223735993 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$9235056073 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;$42525433 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$42525433 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | &nbsp;&nbsp;Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA VCP Dynamic Strategy Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **AFFILIATED INVESTMENT COMPANIES#(1) — 84.4%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 84.4%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 84.4%** |
| **Domestic Equity Investment Companies — 59.6%** | **Domestic Equity Investment Companies — 59.6%** | **Domestic Equity Investment Companies — 59.6%** |
| &nbsp;&nbsp;&nbsp;Seasons Series Trust SA Columbia Focused Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;4855445 | &nbsp;&nbsp;$99002529 |
| &nbsp;&nbsp;&nbsp;Seasons Series Trust SA Multi-Managed Large Cap Growth Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;5134734 | &nbsp;&nbsp;&nbsp;&nbsp; 82566523 |
| &nbsp;&nbsp;&nbsp;Seasons Series Trust SA Multi-Managed Large Cap Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;8737768 | &nbsp;&nbsp;&nbsp;&nbsp; 110270629 |
| &nbsp;&nbsp;&nbsp;Seasons Series Trust SA Multi-Managed Mid Cap Growth Portfolio, Class 1† | &nbsp;&nbsp;&nbsp;&nbsp;3394112 | &nbsp;&nbsp;&nbsp;&nbsp; 56579841 |
| &nbsp;&nbsp;&nbsp;Seasons Series Trust SA Multi-Managed Mid Cap Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;2351735 | &nbsp;&nbsp;&nbsp;&nbsp; 40238187 |
| &nbsp;&nbsp;&nbsp;Seasons Series Trust SA Multi-Managed Small Cap Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;4741540 | &nbsp;&nbsp;&nbsp;&nbsp; 52820751 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA AB Growth Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;1971412 | &nbsp;&nbsp;&nbsp;&nbsp; 132360590 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA AB Small & Mid Cap Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;5413861 | &nbsp;&nbsp;&nbsp;&nbsp; 70650882 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Fidelity Institutional AM® Real Estate Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;2101606 | &nbsp;&nbsp;&nbsp;&nbsp; 26270078 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Franklin BW U.S. Large Cap Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;7154689 | &nbsp;&nbsp;&nbsp;&nbsp; 158047083 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Franklin Small Company Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;1562158 | &nbsp;&nbsp;&nbsp;&nbsp; 26400481 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Franklin Systematic U.S. Large Cap Core Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;4433756 | &nbsp;&nbsp;&nbsp;&nbsp; 107341227 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Franklin Systematic U.S. Large Cap Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;9483786 | &nbsp;&nbsp;&nbsp;&nbsp; 129738189 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Invesco Growth Opportunities Portfolio, Class 1† | &nbsp;&nbsp;&nbsp;&nbsp;3060760 | &nbsp;&nbsp;&nbsp;&nbsp; 21884434 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Janus Focused Growth Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;4505908 | &nbsp;&nbsp;&nbsp;&nbsp; 105528374 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA JPMorgan Equity-Income Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;3898687 | &nbsp;&nbsp;&nbsp;&nbsp; 135752268 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA JPMorgan Large Cap Core Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;8740178 | &nbsp;&nbsp;&nbsp;&nbsp; 219640672 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA JPMorgan Mid Cap Growth Portfolio, Class 1† | &nbsp;&nbsp;&nbsp;&nbsp;2282907 | &nbsp;&nbsp;&nbsp;&nbsp; 48374795 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Large Cap Growth Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;5600554 | &nbsp;&nbsp;&nbsp;&nbsp; 182298047 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Large Cap Index Portfolio, Class 1 | 11081438 | &nbsp;&nbsp;&nbsp;&nbsp; 473842293 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Large Cap Value Index Portfolio, Class 1 | 11223884 | &nbsp;&nbsp;&nbsp;&nbsp; 218753505 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA MFS Large Cap Growth, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;9013427 | &nbsp;&nbsp;&nbsp;&nbsp; 165396393 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA MFS Massachusetts Investors Trust Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;6202480 | &nbsp;&nbsp;&nbsp;&nbsp; 142160834 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Mid Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;2478779 | &nbsp;&nbsp;&nbsp;&nbsp; 38817687 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Small Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;1576254 | &nbsp;&nbsp;&nbsp;&nbsp; 20711978 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Wellington Capital Appreciation Portfolio, Class 1† | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;932408 | &nbsp;&nbsp;&nbsp;&nbsp; 45660015 |
| **Total Domestic Equity Investment Companies<br> (cost $2,526,502,129)** |  | &nbsp;&nbsp;&nbsp;&nbsp;2911108285 |
| **Domestic Fixed Income Investment Companies — 14.5%** | **Domestic Fixed Income Investment Companies — 14.5%** | **Domestic Fixed Income Investment Companies — 14.5%** |
| &nbsp;&nbsp;&nbsp;Seasons Series Trust SA American Century Inflation Managed Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;5233741 | &nbsp;&nbsp;&nbsp;&nbsp; 46423283 |
| &nbsp;&nbsp;&nbsp;Seasons Series Trust SA Multi-Managed Diversified Fixed Income Portfolio, Class 1 | 12168312 | &nbsp;&nbsp;&nbsp;&nbsp; 124238464 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Federated Hermes Corporate Bond Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;&nbsp;7619674 | &nbsp;&nbsp;&nbsp;&nbsp; 90750321 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **Domestic Fixed Income Investment Companies (continued)** | **Domestic Fixed Income Investment Companies (continued)** | **Domestic Fixed Income Investment Companies (continued)** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Fixed Income Index Portfolio, Class 1 | &nbsp;&nbsp; 3970627 | &nbsp;&nbsp;$38316547 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio, Class 1 | &nbsp;&nbsp; 3588824 | &nbsp;&nbsp;&nbsp;&nbsp; 36821334 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA JPMorgan MFS Core Bond Portfolio, Class 1 | &nbsp;&nbsp; 24956761 | &nbsp;&nbsp;&nbsp;&nbsp; 207640248 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA JPMorgan Ultra-Short Bond Portfolio, Class 1 | &nbsp;&nbsp; 1571849 | &nbsp;&nbsp;&nbsp;&nbsp; 17368936 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA PineBridge High-Yield Bond Portfolio, Class 1 | &nbsp;&nbsp; 4257055 | &nbsp;&nbsp;&nbsp;&nbsp; 23073238 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Wellington Government & Quality Bond Portfolio, Class 1 | &nbsp;&nbsp; 9362566 | &nbsp;&nbsp;&nbsp;&nbsp; 123960377 |
| **Total Domestic Fixed Income Investment Companies<br> (cost $753,793,593)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708592748 |
| **International Equity Investment Companies — 10.0%** | **International Equity Investment Companies — 10.0%** | **International Equity Investment Companies — 10.0%** |
| &nbsp;&nbsp;&nbsp;Seasons Series Trust SA Multi-Managed International Equity Portfolio, Class 1 | &nbsp;&nbsp; 6125446 | &nbsp;&nbsp;&nbsp;&nbsp; 59968120 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Emerging Markets Equity Index Portfolio, Class 1 | &nbsp;&nbsp; 1018440 | &nbsp;&nbsp;&nbsp;&nbsp; 17038494 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Fidelity Institutional AM® International Growth Portfolio, Class 1 | &nbsp;&nbsp; 3080586 | &nbsp;&nbsp;&nbsp;&nbsp; 65616485 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA International Index Portfolio, Class 1 | &nbsp;&nbsp; 5656726 | &nbsp;&nbsp;&nbsp;&nbsp; 85416559 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA JPMorgan Emerging Markets Portfolio, Class 1 | &nbsp;&nbsp; 1299824 | &nbsp;&nbsp;&nbsp;&nbsp; 12296334 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA JPMorgan Global Equities Portfolio, Class 1 | &nbsp;&nbsp; 3274606 | &nbsp;&nbsp;&nbsp;&nbsp; 77444436 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Morgan Stanley International Equities Portfolio, Class 1 | &nbsp;&nbsp; 4070772 | &nbsp;&nbsp;&nbsp;&nbsp; 45307694 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA PIMCO RAE International Value Portfolio, Class 1 | &nbsp;&nbsp; 2902692 | &nbsp;&nbsp;&nbsp;&nbsp; 45746421 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Putnam International Value Portfolio, Class 1 | &nbsp;&nbsp; 5618689 | &nbsp;&nbsp;&nbsp;&nbsp; 78493083 |
| **Total International Equity Investment Companies<br> (cost $419,412,173)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487327626 |
| **International Fixed Income Investment Companies — 0.3%** | **International Fixed Income Investment Companies — 0.3%** | **International Fixed Income Investment Companies — 0.3%** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA PIMCO Global Bond Opportunities Portfolio, Class 1<br> (cost $13,222,182) | &nbsp;&nbsp; 1290813 | &nbsp;&nbsp;&nbsp;&nbsp; 12353078 |
| **Total Affiliated Investment Companies<br> (cost $3,712,930,077)** |  | &nbsp;&nbsp;&nbsp;&nbsp;4119381737 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 13.3%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 13.3%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 13.3%** |
| **U.S. Government — 13.3%** | **U.S. Government — 13.3%** | **U.S. Government — 13.3%** |
| &nbsp;&nbsp;&nbsp;United States Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.38%, 05/15/2033 | $69383000 | &nbsp;&nbsp;&nbsp;&nbsp; 65558804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.50%, 02/15/2033 | &nbsp;&nbsp; 47370400 | &nbsp;&nbsp;&nbsp;&nbsp; 45279441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 08/15/2033(2) | &nbsp;&nbsp;140751000 | &nbsp;&nbsp;&nbsp;&nbsp; 137369677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.88%, 08/15/2034 | &nbsp;&nbsp; 77784600 | &nbsp;&nbsp;&nbsp;&nbsp; 75250524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00%, 02/15/2034 | &nbsp;&nbsp; 72965600 | &nbsp;&nbsp;&nbsp;&nbsp; 71554742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.13%, 11/15/2032 | &nbsp;&nbsp; 3569800 | &nbsp;&nbsp;&nbsp;&nbsp; 3561852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25%, 11/15/2034 to 05/15/2035 | &nbsp;&nbsp; 63473000 | &nbsp;&nbsp;&nbsp;&nbsp; 62944513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.38%, 05/15/2034 | &nbsp;&nbsp; 86621700 | &nbsp;&nbsp;&nbsp;&nbsp; 87146167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.50%, 11/15/2033 | &nbsp;&nbsp; 56417500 | &nbsp;&nbsp;&nbsp;&nbsp; 57418029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 02/15/2035 | &nbsp;&nbsp; 42528600 | &nbsp;&nbsp;&nbsp;&nbsp; 43452268 |
| **Total U.S. Government & Agency Obligations<br> (cost $653,228,068)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649536017 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA VCP Dynamic Strategy Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **PURCHASED OPTIONS† — 0.9%** | **PURCHASED OPTIONS† — 0.9%** | **PURCHASED OPTIONS† — 0.9%** |
| **Purchased Options - Puts — 0.9%** | **Purchased Options - Puts — 0.9%** | **Purchased Options - Puts — 0.9%** |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the S&P 500 Index (Expiration Date: 01/16/2026; Strike Price: $5,400.00; Counterparty: Goldman Sachs International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;$7168565 |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the S&P 500 Index (Expiration Date: 01/16/2026; Strike Price: $5,400.00; Counterparty: JPMorgan Chase Bank, N.A.) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp; 2606751 |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the S&P 500 Index (Expiration Date: 01/16/2026; Strike Price: $5,475.00; Counterparty: Goldman Sachs International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp; 7157827 |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the S&P 500 Index (Expiration Date: 02/20/2026; Strike Price: $5,675.00; Counterparty: Citibank, N.A.) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp; 19711994 |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the S&P 500 Index (Expiration Date: 12/19/2025; Strike Price: $5,400.00; Counterparty: Goldman Sachs International) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp; 812270 |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the S&P 500 Index (Expiration Date: 12/19/2025; Strike Price: $5,400.00; Counterparty: JPMorgan Chase Bank, N.A.) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp; 1083027 |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the S&P 500 Index (Expiration Date: 12/19/2025; Strike Price: $5,400.00; Counterparty: UBS AG) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp; 3519837 |
| **Total Purchased Options<br> (cost $57,044,180)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42060271 |
| **Total Long-Term Investment Securities<br> (cost $4,423,202,325)** |  | &nbsp;&nbsp;&nbsp;&nbsp;4810978025 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **SHORT-TERM INVESTMENTS — 2.1%** | **SHORT-TERM INVESTMENTS — 2.1%** |  |
| **Unaffiliated Investment Companies — 2.1%** | **Unaffiliated Investment Companies — 2.1%** |  |
| &nbsp;&nbsp;&nbsp;AllianceBernstein Government STIF Portfolio, Class AB<br> 4.36%(3)<br> (cost $102,758,891) | 102758891 | &nbsp;&nbsp;$102758891 |
| **TOTAL INVESTMENTS<br> (cost $4,525,961,216)(4)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.7% | &nbsp;&nbsp;&nbsp;&nbsp;4913736916 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.7) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32158481) |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$4881578435 |

---

---

| | |
|:---|:---|
| # | &nbsp;&nbsp;The SunAmerica Series Trust SA VCP Dynamic Strategy Portfolio invests in Class 1 shares of the underlying Portfolios, which are Portfolios of SunAmerica Series Trust and Seasons Series Trust, some of which are not presented in this report. Additional information on the underlying Portfolios, including such portfolios' prospectuses and shareholder reports are available on our website, www.corebridgefinancial.com/getprospectus. |
| † | &nbsp;&nbsp;Non-income producing security |
| (1) | &nbsp;&nbsp;See Note 8. |
| (2) | &nbsp;&nbsp;The security or a portion thereof was pledged as collateral to cover margin requirements for open futures contracts. |
| (3) | &nbsp;&nbsp;The rate shown is the 7-day yield as of July 31, 2025. |
| (4) | &nbsp;&nbsp;See Note 4 for cost of investments on a tax basis. |

---

STIF—Short Term Investment Fund

#### Futures Contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number<br> of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Expiration<br> Month** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Basis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Value\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation** |
| 1300 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;S&P 500 E-Mini Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$412069609 | &nbsp;&nbsp;&nbsp;&nbsp;$414326250 | &nbsp;&nbsp;&nbsp;&nbsp;$2256641 |

---

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

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Affiliated Investment Companies | &nbsp;&nbsp;$4119381737 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$4119381737 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;649536017 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649536017 |
| Purchased Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;42060271 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42060271 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102758891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102758891 |
| **Total Investments at Value** | &nbsp;&nbsp;$4222140628 | &nbsp;&nbsp;$691596288 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$4913736916 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;$2256641 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$2256641 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | &nbsp;&nbsp;Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA VCP Index Allocation Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited)

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **AFFILIATED INVESTMENT COMPANIES#(1) — 82.1%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 82.1%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 82.1%** |
| **Domestic Equity Investment Companies — 49.0%** | **Domestic Equity Investment Companies — 49.0%** | **Domestic Equity Investment Companies — 49.0%** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Large Cap Index Portfolio, Class 1 | &nbsp;&nbsp; 5039237 | &nbsp;&nbsp;$215477795 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Mid Cap Index Portfolio, Class 1 | &nbsp;&nbsp; 2253721 | &nbsp;&nbsp;&nbsp;&nbsp; 35293268 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Small Cap Index Portfolio, Class 1 | &nbsp;&nbsp; 1508495 | &nbsp;&nbsp;&nbsp;&nbsp; 19821624 |
| **Total Domestic Equity Investment Companies<br> (cost $195,178,257)** |  | &nbsp;&nbsp;&nbsp;&nbsp;270592687 |
| **Domestic Fixed Income Investment Companies — 22.7%** | **Domestic Fixed Income Investment Companies — 22.7%** | **Domestic Fixed Income Investment Companies — 22.7%** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Fixed Income Index Portfolio, Class 1 | &nbsp;&nbsp; 6421959 | &nbsp;&nbsp;&nbsp;&nbsp; 61971904 |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA Fixed Income Intermediate Index Portfolio, Class 1 | &nbsp;&nbsp; 6218172 | &nbsp;&nbsp;&nbsp;&nbsp; 63798445 |
| **Total Domestic Fixed Income Investment Companies<br> (cost $130,734,816)** |  | &nbsp;&nbsp;&nbsp;&nbsp;125770349 |
| **International Equity Investment Companies — 10.4%** | **International Equity Investment Companies — 10.4%** | **International Equity Investment Companies — 10.4%** |
| &nbsp;&nbsp;&nbsp;SunAmerica Series Trust SA International Index Portfolio, Class 1<br> (cost $44,231,725) | &nbsp;&nbsp; 3793015 | &nbsp;&nbsp;&nbsp;&nbsp; 57274523 |
| **Total Affiliated Investment Companies<br> (cost $370,144,798)** |  | &nbsp;&nbsp;&nbsp;&nbsp;453637559 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 2.0%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 2.0%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 2.0%** |
| **U.S. Government — 2.0%** | **U.S. Government — 2.0%** | **U.S. Government — 2.0%** |
| &nbsp;&nbsp;&nbsp;United States Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.63%, 09/15/2026(2)<br> (cost $10,870,977) | $10800000 | &nbsp;&nbsp;&nbsp;&nbsp; 10855688 |
| **PURCHASED OPTIONS† — 0.2%** | **PURCHASED OPTIONS† — 0.2%** | **PURCHASED OPTIONS† — 0.2%** |
| **Purchased Options - Puts — 0.2%** | **Purchased Options - Puts — 0.2%** | **Purchased Options - Puts — 0.2%** |
| &nbsp;&nbsp;&nbsp;Over the Counter put option on the S&P 500 Index (Expiration Date: 12/19/2025; Strike Price: $4,800.00; Counterparty: Goldman Sachs International)<br> (cost $2,594,514) | &nbsp;&nbsp; 426 | &nbsp;&nbsp;&nbsp;&nbsp; 1123611 |
| **Total Long-Term Investment Securities<br> (cost $383,610,289)** |  | &nbsp;&nbsp;&nbsp;&nbsp;465616858 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or<br> Principal<br> Amount** | &nbsp;&nbsp;**Value** |
| **SHORT-TERM INVESTMENTS — 16.0%** | **SHORT-TERM INVESTMENTS — 16.0%** |  |
| **Unaffiliated Investment Companies — 16.0%** | **Unaffiliated Investment Companies — 16.0%** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Premier Class<br> 4.25%(3) | 88520833 | &nbsp;&nbsp;$88520832 |
| &nbsp;&nbsp;&nbsp;T. Rowe Price Treasury Reserve Fund<br> 4.38%(3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1212 | &nbsp;&nbsp;&nbsp;&nbsp; 1212 |
| **Total Short-Term Investments<br> (cost $88,522,045)** |  | &nbsp;&nbsp;&nbsp;&nbsp;88522044 |
| **TOTAL INVESTMENTS<br> (cost $472,132,334)(4)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.3% | &nbsp;&nbsp;&nbsp;&nbsp;554138902 |
| Other assets less liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1435328) |
| **NET ASSETS** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100.0% | &nbsp;&nbsp;$552703574 |

---

---

| | |
|:---|:---|
| # | &nbsp;&nbsp;The SunAmerica Series Trust SA VCP Index Allocation Portfolio invests in Class 1 shares of the underlying Portfolios, which are Portfolios of SunAmerica Series Trust. Additional information on the underlying Portfolios, including such portfolios' prospectuses and shareholder reports are available on our website, www.corebridgefinancial.com/getprospectus |
| † | &nbsp;&nbsp;Non-income producing security |
| (1) | &nbsp;&nbsp;See Note 8. |
| (2) | &nbsp;&nbsp;The security or a portion thereof was pledged as collateral to cover margin requirements for open futures contracts. |
| (3) | &nbsp;&nbsp;The rate shown is the 7-day yield as of July 31, 2025. |
| (4) | &nbsp;&nbsp;See Note 4 for cost of investments on a tax basis. |

---

#### Futures Contracts

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number<br> of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Type** | &nbsp;&nbsp;&nbsp;**Description** | &nbsp;&nbsp;**Expiration<br> Month** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Basis\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Value\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation** |
| 54 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;E-Mini Russell 2000 Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$5768126 | &nbsp;&nbsp;&nbsp;&nbsp;$5994540 | &nbsp;&nbsp;&nbsp;&nbsp;$226414 |
| 253 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;S&P 500 E-Mini Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76688429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80634263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3945834 |
| 28 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;S&P Mid Cap 400 E-Mini Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8544916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8862280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 317364 |
| 13 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury 10 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1431741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1443813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12072 |
| 14 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury 5 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1511601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1514406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2805 |
| &nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury Long Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 445311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 456750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11439 |
| &nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury Ultra Bonds | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 228143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 234624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6481 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$4522409 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**Unrealized<br> (Depreciation)** |
| 110 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;MSCI EAFE Index | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;$14398473 | &nbsp;&nbsp;&nbsp;&nbsp;$14373700 | &nbsp;&nbsp;&nbsp;&nbsp;$(24773) |
| 12 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;U.S. Treasury 2 Year Notes | &nbsp;&nbsp;September 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2486736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2483813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2923) |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$(27696) |
|  |  | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;Net Unrealized Appreciation (Depreciation) |  | &nbsp;&nbsp;&nbsp;&nbsp;$4494713 |

---

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

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust SA VCP Index Allocation Portfolio

#### PORTFOLIO OF INVESTMENTS — July 31, 2025 (unaudited) — (continued)

------

The following is a summary of the inputs used to value the Portfolio's net assets as of July 31, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Level 1 - Unadjusted<br> Quoted Prices** | &nbsp;&nbsp;**Level 2 - Other<br> Observable Inputs** | &nbsp;&nbsp;**Level 3 - Significant<br> Unobservable Inputs** | &nbsp;&nbsp;**Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Affiliated Investment Companies | &nbsp;&nbsp;$453637559 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$453637559 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;10855688 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;10855688 |
| Purchased Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1123611 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1123611 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;88522044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;88522044 |
| **Total Investments at Value** | &nbsp;&nbsp;$542159603 | &nbsp;&nbsp;$11979299 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$554138902 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;$4522409 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$4522409 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp;$27696 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$27696 |

---

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp;For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | &nbsp;&nbsp;Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF ASSETS AND LIABILITIES — July 31, 2025 (unaudited)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA AB<br> Growth** | &nbsp;&nbsp;**SA AB<br> Small & Mid<br> Cap Value** | &nbsp;&nbsp;**SA BlackRock<br> Multi-Factor<br> 70/30** | &nbsp;&nbsp;**SA Emerging<br> Markets<br> Equity Index** | &nbsp;&nbsp;**SA Federated<br> Hermes<br> Corporate<br> Bond** |
| **ASSETS:** |  |  |  |  |  |
| Investments at value (unaffiliated)\*<br>| &nbsp;&nbsp;$1843599456 | &nbsp;&nbsp;$475801253 | &nbsp;&nbsp;$105081451 | &nbsp;&nbsp;$104061990 | &nbsp;&nbsp;$1517384715 |
| Investments at value (affiliated)\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;10280197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Repurchase agreements (cost approximates value)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18578658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2848374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75702 |
| Foreign cash\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400590 |
| Cash collateral on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral for over-the-counter derivative contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for variation margin on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216632 |
| Receivable for variation margin on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fund shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15380 |
| &nbsp;&nbsp;&nbsp;Dividends and interest<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17362918 |
| &nbsp;&nbsp;&nbsp;Investments sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177436 |
| &nbsp;&nbsp;&nbsp;Written options<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Receipts on swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Prepaid expenses and other assets<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due from investment adviser for expense reimbursements/fee waivers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Premiums paid on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on forward foreign currency contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total assets<br>| &nbsp;&nbsp;&nbsp;&nbsp;1863735787 | &nbsp;&nbsp;&nbsp;&nbsp;478797414 | &nbsp;&nbsp;&nbsp;&nbsp;115405928 | &nbsp;&nbsp;&nbsp;&nbsp;105014326 | &nbsp;&nbsp;&nbsp;&nbsp;1535633373 |
| **LIABILITIES:** |  |  |  |  |  |
| Payable for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fund shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1535073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351552 |
| &nbsp;&nbsp;&nbsp;Investments purchased<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3241984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1434128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1603714 |
| &nbsp;&nbsp;&nbsp;Payments on swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Investment advisory and management fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672687 |
| &nbsp;&nbsp;&nbsp;Service fees—Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1307 |
| &nbsp;&nbsp;&nbsp;Service fees—Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228853 |
| &nbsp;&nbsp;&nbsp;Transfer agent fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211 |
| &nbsp;&nbsp;&nbsp;Trustees' fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13158 |
| &nbsp;&nbsp;&nbsp;Other accrued expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157626 |
| &nbsp;&nbsp;&nbsp;Interest on Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Line of credit<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Accrued foreign tax on capital gains<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1072512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Premiums received on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to investment adviser from expense recoupment<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian for foreign cash\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for variation margin on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for variation margin on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on over-the-counter derivative contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Forward sales contracts, at value\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Call and put options written, at value@<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on forward foreign currency contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6059999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2310595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1332752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3029108 |
| **Commitments and contingent liabilities (Note 5)** |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$1857675788 | &nbsp;&nbsp;$476486819 | &nbsp;&nbsp;$115257602 | &nbsp;&nbsp;$103681574 | &nbsp;&nbsp;$1532604265 |
| <br>\* Cost |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (unaffiliated)<br>| &nbsp;&nbsp;$1115796720 | &nbsp;&nbsp;$451970913 | &nbsp;&nbsp;$95973668 | &nbsp;&nbsp;$84430589 | &nbsp;&nbsp;$1605121486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$11123485 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign cash<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$435981 | &nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from forward sales contracts<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| @ Premiums received on options written<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements |

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF ASSETS AND LIABILITIES — July 31, 2025 (unaudited) — (continued)

------

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA AB<br> Growth** | &nbsp;&nbsp;**SA AB<br> Small & Mid<br> Cap Value** | &nbsp;&nbsp;**SA BlackRock<br> Multi-Factor<br> 70/30** | &nbsp;&nbsp;**SA Emerging<br> Markets<br> Equity Index** | &nbsp;&nbsp;**SA Federated<br> Hermes<br> Corporate<br> Bond** |
| **NET ASSETS REPRESENTED BY:** |  |  |  |  |  |
| Paid in capital<br>| &nbsp;&nbsp;$782165986 | &nbsp;&nbsp;$403158921 | &nbsp;&nbsp;$97030182 | &nbsp;&nbsp;$91885394 | &nbsp;&nbsp;$1587664029 |
| Total accumulated earnings (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1075509802 | &nbsp;&nbsp;&nbsp;&nbsp;73327898 | &nbsp;&nbsp;&nbsp;&nbsp;18227420 | &nbsp;&nbsp;&nbsp;&nbsp;11796180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55059764) |
| &nbsp;&nbsp;&nbsp;Net assets<br>| &nbsp;&nbsp;$1857675788 | &nbsp;&nbsp;$476486819 | &nbsp;&nbsp;$115257602 | &nbsp;&nbsp;$103681574 | &nbsp;&nbsp;$1532604265 |
| **Class 1 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$1078716898 | &nbsp;&nbsp;$88752900 | &nbsp;&nbsp;$189813 | &nbsp;&nbsp;$82304193 | &nbsp;&nbsp;$444407274 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16065514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6799138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4920469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37324503 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$67.14 | &nbsp;&nbsp;$13.05 | &nbsp;&nbsp;$18.80 | &nbsp;&nbsp;$16.73 | &nbsp;&nbsp;$11.91 |
| **Class 2 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$77980222 | &nbsp;&nbsp;$7676984 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$10261932 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1195318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861459 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$65.24 | &nbsp;&nbsp;$13.04 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$11.91 |
| **Class 3 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$700978668 | &nbsp;&nbsp;$380056935 | &nbsp;&nbsp;$115067789 | &nbsp;&nbsp;$21377381 | &nbsp;&nbsp;$1077935059 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11118034 | &nbsp;&nbsp;&nbsp;&nbsp;29689794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6157882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1289759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91481030 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$63.05 | &nbsp;&nbsp;$12.80 | &nbsp;&nbsp;$18.69 | &nbsp;&nbsp;$16.57 | &nbsp;&nbsp;$11.78 |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF ASSETS AND LIABILITIES — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Fidelity<br> Institutional AM®<br> Global<br> Equities(1)** | &nbsp;&nbsp;**SA Fidelity<br> Institutional AM®<br> International<br> Growth** | &nbsp;&nbsp;**SA Fidelity<br> Institutional AM®<br> Real Estate** | &nbsp;&nbsp;**SA Fixed<br> Income<br> Index** | &nbsp;&nbsp;**SA Fixed<br> Income<br> Intermediate<br> Index** |
| **ASSETS:** |  |  |  |  |  |
| Investments at value (unaffiliated)\*<br>| &nbsp;&nbsp;$324272029 | &nbsp;&nbsp;$263382461 | &nbsp;&nbsp;$245744168 | &nbsp;&nbsp;$548648985 | &nbsp;&nbsp;$492623578 |
| Investments at value (affiliated)\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Repurchase agreements (cost approximates value)<br>| &nbsp;&nbsp;&nbsp;&nbsp;14838613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4904665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1373494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100936 |
| Foreign cash\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral for over-the-counter derivative contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for variation margin on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for variation margin on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fund shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20462 |
| &nbsp;&nbsp;&nbsp;Dividends and interest<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;541214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4907588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3860946 |
| &nbsp;&nbsp;&nbsp;Investments sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1222780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939999 |
| &nbsp;&nbsp;&nbsp;Written options<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Receipts on swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Prepaid expenses and other assets<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due from investment adviser for expense reimbursements/fee waivers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23837 |
| Premiums paid on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on forward foreign currency contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total assets<br>| &nbsp;&nbsp;&nbsp;&nbsp;339978247 | &nbsp;&nbsp;&nbsp;&nbsp;270264258 | &nbsp;&nbsp;&nbsp;&nbsp;247619807 | &nbsp;&nbsp;&nbsp;&nbsp;554188865 | &nbsp;&nbsp;&nbsp;&nbsp;497569758 |
| **LIABILITIES:** |  |  |  |  |  |
| Payable for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fund shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291110 |
| &nbsp;&nbsp;&nbsp;Investments purchased<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4310961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1196246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3083105 |
| &nbsp;&nbsp;&nbsp;Payments on swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Investment advisory and management fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123290 |
| &nbsp;&nbsp;&nbsp;Service fees—Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Service fees—Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11777 |
| &nbsp;&nbsp;&nbsp;Transfer agent fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 |
| &nbsp;&nbsp;&nbsp;Trustees' fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4390 |
| &nbsp;&nbsp;&nbsp;Other accrued expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206383 |
| &nbsp;&nbsp;&nbsp;Interest on Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Line of credit<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Accrued foreign tax on capital gains<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Premiums received on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to investment adviser from expense recoupment<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian for foreign cash\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for variation margin on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for variation margin on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on over-the-counter derivative contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Forward sales contracts, at value\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Call and put options written, at value@<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on forward foreign currency contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5427594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1041806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1862966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720265 |
| **Commitments and contingent liabilities (Note 5)** |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$339541109 | &nbsp;&nbsp;$264836664 | &nbsp;&nbsp;$246578001 | &nbsp;&nbsp;$552325899 | &nbsp;&nbsp;$493849493 |
| <br>\* Cost |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (unaffiliated)<br>| &nbsp;&nbsp;$266646082 | &nbsp;&nbsp;$202007988 | &nbsp;&nbsp;$238182385 | &nbsp;&nbsp;$563280189 | &nbsp;&nbsp;$496851342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign cash<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$150215 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from forward sales contracts<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| @ Premiums received on options written<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF ASSETS AND LIABILITIES — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Fidelity<br> Institutional AM®<br> Global<br> Equities(1)** | &nbsp;&nbsp;**SA Fidelity<br> Institutional AM®<br> International<br> Growth** | &nbsp;&nbsp;**SA Fidelity<br> Institutional AM®<br> Real Estate** | &nbsp;&nbsp;**SA Fixed<br> Income<br> Index** | &nbsp;&nbsp;**SA Fixed<br> Income<br> Intermediate<br> Index** |
| **NET ASSETS REPRESENTED BY:** |  |  |  |  |  |
| Paid in capital<br>| &nbsp;&nbsp;$163465561 | &nbsp;&nbsp;$159296720 | &nbsp;&nbsp;$206288849 | &nbsp;&nbsp;$580661124 | &nbsp;&nbsp;$493335050 |
| Total accumulated earnings (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;176075548 | &nbsp;&nbsp;&nbsp;&nbsp;105539944 | &nbsp;&nbsp;&nbsp;&nbsp;40289152 | &nbsp;&nbsp;&nbsp;&nbsp;(28335225) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;514443 |
| &nbsp;&nbsp;&nbsp;Net assets<br>| &nbsp;&nbsp;$339541109 | &nbsp;&nbsp;$264836664 | &nbsp;&nbsp;$246578001 | &nbsp;&nbsp;$552325899 | &nbsp;&nbsp;$493849493 |
| **Class 1 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$275491691 | &nbsp;&nbsp;$245656126 | &nbsp;&nbsp;$111164863 | &nbsp;&nbsp;$459018375 | &nbsp;&nbsp;$438374798 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;11643470 | &nbsp;&nbsp;&nbsp;&nbsp;11534880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8892865 | &nbsp;&nbsp;&nbsp;&nbsp;47587817 | &nbsp;&nbsp;&nbsp;&nbsp;42739058 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$23.66 | &nbsp;&nbsp;$21.30 | &nbsp;&nbsp;$12.50 | &nbsp;&nbsp;$9.65 | &nbsp;&nbsp;$10.26 |
| **Class 2 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$2808131 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$2575729 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$23.58 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$12.46 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| **Class 3 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$61241287 | &nbsp;&nbsp;$19180538 | &nbsp;&nbsp;$132837409 | &nbsp;&nbsp;$93307524 | &nbsp;&nbsp;$55474695 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2633434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909402 | &nbsp;&nbsp;&nbsp;&nbsp;10776204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9747643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5445179 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$23.26 | &nbsp;&nbsp;$21.09 | &nbsp;&nbsp;$12.33 | &nbsp;&nbsp;$9.57 | &nbsp;&nbsp;$10.19 |

---

 <br> (1) Prior to July 28, 2025, the Portfolio was known as SA JPMorgan Global Equities Portfolio.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF ASSETS AND LIABILITIES — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Franklin<br> BW U.S.<br> Large Cap<br> Value** | &nbsp;&nbsp;**SA Franklin<br> Small<br> Company<br> Value** | &nbsp;&nbsp;**SA Franklin<br> Systematic<br> U.S. Large<br> Cap Core** | &nbsp;&nbsp;**SA Franklin<br> Systematic<br> U.S. Large<br> Cap Value** | &nbsp;&nbsp;**SA Franklin<br> Tactical<br> Opportunities** |
| **ASSETS:** |  |  |  |  |  |
| Investments at value (unaffiliated)\*<br>| &nbsp;&nbsp;$1212235942 | &nbsp;&nbsp;$283050841 | &nbsp;&nbsp;$311448070 | &nbsp;&nbsp;$566022162 | &nbsp;&nbsp;$109251368 |
| Investments at value (affiliated)\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Repurchase agreements (cost approximates value)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124113 |
| Foreign cash\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803 |
| Cash collateral on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral for over-the-counter derivative contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for variation margin on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for variation margin on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fund shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Dividends and interest<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1719346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337575 |
| &nbsp;&nbsp;&nbsp;Investments sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1708742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523137 |
| &nbsp;&nbsp;&nbsp;Written options<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Receipts on swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Prepaid expenses and other assets<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due from investment adviser for expense reimbursements/fee waivers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12235 |
| Premiums paid on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on forward foreign currency contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total assets<br>| &nbsp;&nbsp;&nbsp;&nbsp;1214029134 | &nbsp;&nbsp;&nbsp;&nbsp;284927232 | &nbsp;&nbsp;&nbsp;&nbsp;311710627 | &nbsp;&nbsp;&nbsp;&nbsp;566516757 | &nbsp;&nbsp;&nbsp;&nbsp;110249231 |
| **LIABILITIES:** |  |  |  |  |  |
| Payable for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fund shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4248 |
| &nbsp;&nbsp;&nbsp;Investments purchased<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1257356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4960797 |
| &nbsp;&nbsp;&nbsp;Payments on swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Investment advisory and management fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;752967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62698 |
| &nbsp;&nbsp;&nbsp;Service fees—Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Service fees—Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22355 |
| &nbsp;&nbsp;&nbsp;Transfer agent fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76 |
| &nbsp;&nbsp;&nbsp;Trustees' fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980 |
| &nbsp;&nbsp;&nbsp;Other accrued expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85259 |
| &nbsp;&nbsp;&nbsp;Interest on Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Line of credit<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Accrued foreign tax on capital gains<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Premiums received on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to investment adviser from expense recoupment<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian for foreign cash\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for variation margin on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 |
| Payable for variation margin on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on over-the-counter derivative contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Forward sales contracts, at value\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Call and put options written, at value@<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on forward foreign currency contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1953992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1759544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5136429 |
| **Commitments and contingent liabilities (Note 5)** |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$1212075142 | &nbsp;&nbsp;$283167688 | &nbsp;&nbsp;$311400297 | &nbsp;&nbsp;$565875008 | &nbsp;&nbsp;$105112802 |
| <br>\* Cost |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (unaffiliated)<br>| &nbsp;&nbsp;$940689047 | &nbsp;&nbsp;$258318366 | &nbsp;&nbsp;$262372364 | &nbsp;&nbsp;$505841922 | &nbsp;&nbsp;$90128415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign cash<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$41 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from forward sales contracts<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| @ Premiums received on options written<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF ASSETS AND LIABILITIES — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Franklin<br> BW U.S.<br> Large Cap<br> Value** | &nbsp;&nbsp;**SA Franklin<br> Small<br> Company<br> Value** | &nbsp;&nbsp;**SA Franklin<br> Systematic<br> U.S. Large<br> Cap Core** | &nbsp;&nbsp;**SA Franklin<br> Systematic<br> U.S. Large<br> Cap Value** | &nbsp;&nbsp;**SA Franklin<br> Tactical<br> Opportunities** |
| **NET ASSETS REPRESENTED BY:** |  |  |  |  |  |
| Paid in capital<br>| &nbsp;&nbsp;$680091068 | &nbsp;&nbsp;$233621478 | &nbsp;&nbsp;$222077109 | &nbsp;&nbsp;$460193827 | &nbsp;&nbsp;$75969378 |
| Total accumulated earnings (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;531984074 | &nbsp;&nbsp;&nbsp;&nbsp;49546210 | &nbsp;&nbsp;&nbsp;&nbsp;89323188 | &nbsp;&nbsp;&nbsp;&nbsp;105681181 | &nbsp;&nbsp;&nbsp;&nbsp;29143424 |
| &nbsp;&nbsp;&nbsp;Net assets<br>| &nbsp;&nbsp;$1212075142 | &nbsp;&nbsp;$283167688 | &nbsp;&nbsp;$311400297 | &nbsp;&nbsp;$565875008 | &nbsp;&nbsp;$105112802 |
| **Class 1 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$752537293 | &nbsp;&nbsp;$102272556 | &nbsp;&nbsp;$286729655 | &nbsp;&nbsp;$337430271 | &nbsp;&nbsp;$171349 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34073767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6050322 | &nbsp;&nbsp;&nbsp;&nbsp;11845081 | &nbsp;&nbsp;&nbsp;&nbsp;24664381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11988 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$22.09 | &nbsp;&nbsp;$16.90 | &nbsp;&nbsp;$24.21 | &nbsp;&nbsp;$13.68 | &nbsp;&nbsp;$14.29 |
| **Class 2 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$38604293 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$4827794 | &nbsp;&nbsp;$— |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1747327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$22.09 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$13.63 | &nbsp;&nbsp;$— |
| **Class 3 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$420933556 | &nbsp;&nbsp;$180895132 | &nbsp;&nbsp;$24670642 | &nbsp;&nbsp;$223616943 | &nbsp;&nbsp;$104941453 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19260760 | &nbsp;&nbsp;&nbsp;&nbsp;10919474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1029309 | &nbsp;&nbsp;&nbsp;&nbsp;16721600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7385865 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$21.85 | &nbsp;&nbsp;$16.57 | &nbsp;&nbsp;$23.97 | &nbsp;&nbsp;$13.37 | &nbsp;&nbsp;$14.21 |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF ASSETS AND LIABILITIES — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Global<br> Index<br> Allocation<br> 60/40** | &nbsp;&nbsp;**SA Global<br> Index<br> Allocation<br> 75/25** | &nbsp;&nbsp;**SA Global<br> Index<br> Allocation<br> 90/10** | &nbsp;&nbsp;**SA Goldman<br> Sachs Multi-<br> Asset<br> Insights** | &nbsp;&nbsp;**SA Index<br> Allocation<br> 60/40** |
| **ASSETS:** |  |  |  |  |  |
| Investments at value (unaffiliated)\*<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$49733605 | &nbsp;&nbsp;$— |
| Investments at value (affiliated)\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;106108651 | &nbsp;&nbsp;&nbsp;&nbsp;107654092 | &nbsp;&nbsp;&nbsp;&nbsp;397084665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;273410718 |
| Repurchase agreements (cost approximates value)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Foreign cash\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral for over-the-counter derivative contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for variation margin on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for variation margin on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fund shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158082 |
| &nbsp;&nbsp;&nbsp;Dividends and interest<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Investments sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69811 |
| &nbsp;&nbsp;&nbsp;Written options<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Receipts on swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Prepaid expenses and other assets<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due from investment adviser for expense reimbursements/fee waivers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Premiums paid on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on forward foreign currency contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total assets<br>| &nbsp;&nbsp;&nbsp;&nbsp;106119174 | &nbsp;&nbsp;&nbsp;&nbsp;107668878 | &nbsp;&nbsp;&nbsp;&nbsp;397329256 | &nbsp;&nbsp;&nbsp;&nbsp;50670414 | &nbsp;&nbsp;&nbsp;&nbsp;273638611 |
| **LIABILITIES:** |  |  |  |  |  |
| Payable for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fund shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227649 |
| &nbsp;&nbsp;&nbsp;Investments purchased<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Payments on swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Investment advisory and management fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23331 |
| &nbsp;&nbsp;&nbsp;Service fees—Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Service fees—Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58244 |
| &nbsp;&nbsp;&nbsp;Transfer agent fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 |
| &nbsp;&nbsp;&nbsp;Trustees' fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2527 |
| &nbsp;&nbsp;&nbsp;Other accrued expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34231 |
| &nbsp;&nbsp;&nbsp;Interest on Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Line of credit<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Accrued foreign tax on capital gains<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Premiums received on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to investment adviser from expense recoupment<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian for foreign cash\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for variation margin on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for variation margin on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on over-the-counter derivative contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Forward sales contracts, at value\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Call and put options written, at value@<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on forward foreign currency contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346040 |
| **Commitments and contingent liabilities (Note 5)** |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$106049184 | &nbsp;&nbsp;$107592545 | &nbsp;&nbsp;$396930802 | &nbsp;&nbsp;$50343449 | &nbsp;&nbsp;$273292571 |
| <br>\* Cost |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (unaffiliated)<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$45228027 | &nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;$94783009 | &nbsp;&nbsp;$92743898 | &nbsp;&nbsp;$325730289 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$235385002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign cash<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$145963 | &nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from forward sales contracts<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| @ Premiums received on options written<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF ASSETS AND LIABILITIES — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Global<br> Index<br> Allocation<br> 60/40** | &nbsp;&nbsp;**SA Global<br> Index<br> Allocation<br> 75/25** | &nbsp;&nbsp;**SA Global<br> Index<br> Allocation<br> 90/10** | &nbsp;&nbsp;**SA Goldman<br> Sachs Multi-<br> Asset<br> Insights** | &nbsp;&nbsp;**SA Index<br> Allocation<br> 60/40** |
| **NET ASSETS REPRESENTED BY:** |  |  |  |  |  |
| Paid in capital<br>| &nbsp;&nbsp;$89536429 | &nbsp;&nbsp;$84866128 | &nbsp;&nbsp;$294560215 | &nbsp;&nbsp;$42114232 | &nbsp;&nbsp;$213762488 |
| Total accumulated earnings (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;16512755 | &nbsp;&nbsp;&nbsp;&nbsp;22726417 | &nbsp;&nbsp;&nbsp;&nbsp;102370587 | &nbsp;&nbsp;&nbsp;&nbsp;8229217 | &nbsp;&nbsp;&nbsp;&nbsp;59530083 |
| &nbsp;&nbsp;&nbsp;Net assets<br>| &nbsp;&nbsp;$106049184 | &nbsp;&nbsp;$107592545 | &nbsp;&nbsp;$396930802 | &nbsp;&nbsp;$50343449 | &nbsp;&nbsp;$273292571 |
| **Class 1 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$105589 | &nbsp;&nbsp;$445840 | &nbsp;&nbsp;$4434772 | &nbsp;&nbsp;$182804 | &nbsp;&nbsp;$388699 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26326 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$19.01 | &nbsp;&nbsp;$20.55 | &nbsp;&nbsp;$21.93 | &nbsp;&nbsp;$11.94 | &nbsp;&nbsp;$14.76 |
| **Class 2 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| **Class 3 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$105943595 | &nbsp;&nbsp;$107146705 | &nbsp;&nbsp;$392496030 | &nbsp;&nbsp;$50160645 | &nbsp;&nbsp;$272903872 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5570600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5226771 | &nbsp;&nbsp;&nbsp;&nbsp;18030893 | &nbsp;&nbsp;&nbsp;&nbsp;4221977 | &nbsp;&nbsp;&nbsp;&nbsp;18555560 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$19.02 | &nbsp;&nbsp;$20.50 | &nbsp;&nbsp;$21.77 | &nbsp;&nbsp;$11.88 | &nbsp;&nbsp;$14.71 |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF ASSETS AND LIABILITIES — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Index<br> Allocation<br> 80/20** | &nbsp;&nbsp;**SA Index<br> Allocation<br> 90/10** | &nbsp;&nbsp;**SA<br> International<br> Index** | &nbsp;&nbsp;**SA Invesco<br> Growth<br> Opportunities** | &nbsp;&nbsp;**SA Janus<br> Focused<br> Growth** |
| **ASSETS:** |  |  |  |  |  |
| Investments at value (unaffiliated)\*<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$959527703 | &nbsp;&nbsp;$277065071 | &nbsp;&nbsp;$523486461 |
| Investments at value (affiliated)\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;528990738 | &nbsp;&nbsp;&nbsp;&nbsp;1489847816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Repurchase agreements (cost approximates value)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2909486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49095 |
| Foreign cash\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3934237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral for over-the-counter derivative contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for variation margin on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for variation margin on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fund shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1338 |
| &nbsp;&nbsp;&nbsp;Dividends and interest<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4212019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25108 |
| &nbsp;&nbsp;&nbsp;Investments sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1609677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2479126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written options<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Receipts on swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Prepaid expenses and other assets<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due from investment adviser for expense reimbursements/fee waivers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43495 |
| Premiums paid on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on forward foreign currency contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total assets<br>| &nbsp;&nbsp;&nbsp;&nbsp;529132254 | &nbsp;&nbsp;&nbsp;&nbsp;1491715591 | &nbsp;&nbsp;&nbsp;&nbsp;968063159 | &nbsp;&nbsp;&nbsp;&nbsp;282647546 | &nbsp;&nbsp;&nbsp;&nbsp;523605497 |
| **LIABILITIES:** |  |  |  |  |  |
| Payable for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fund shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1866461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171884 |
| &nbsp;&nbsp;&nbsp;Investments purchased<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Payments on swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Investment advisory and management fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369706 |
| &nbsp;&nbsp;&nbsp;Service fees—Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1054 |
| &nbsp;&nbsp;&nbsp;Service fees—Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41358 |
| &nbsp;&nbsp;&nbsp;Transfer agent fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199 |
| &nbsp;&nbsp;&nbsp;Trustees' fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4183 |
| &nbsp;&nbsp;&nbsp;Other accrued expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66211 |
| &nbsp;&nbsp;&nbsp;Interest on Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Line of credit<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Accrued foreign tax on capital gains<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Premiums received on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to investment adviser from expense recoupment<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian for foreign cash\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for variation margin on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for variation margin on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on over-the-counter derivative contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Forward sales contracts, at value\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Call and put options written, at value@<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on forward foreign currency contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2369957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1465874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654595 |
| **Commitments and contingent liabilities (Note 5)** |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$528791562 | &nbsp;&nbsp;$1489345634 | &nbsp;&nbsp;$966597285 | &nbsp;&nbsp;$281835355 | &nbsp;&nbsp;$522950902 |
| <br>\* Cost |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (unaffiliated)<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$719204518 | &nbsp;&nbsp;$229884539 | &nbsp;&nbsp;$297363352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;$417835885 | &nbsp;&nbsp;$1121139832 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign cash<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$4017697 | &nbsp;&nbsp;$174714 | &nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from forward sales contracts<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| @ Premiums received on options written<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements |

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF ASSETS AND LIABILITIES — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Index<br> Allocation<br> 80/20** | &nbsp;&nbsp;**SA Index<br> Allocation<br> 90/10** | &nbsp;&nbsp;**SA<br> International<br> Index** | &nbsp;&nbsp;**SA Invesco<br> Growth<br> Opportunities** | &nbsp;&nbsp;**SA Janus<br> Focused<br> Growth** |
| **NET ASSETS REPRESENTED BY:** |  |  |  |  |  |
| Paid in capital<br>| &nbsp;&nbsp;$366546358 | &nbsp;&nbsp;$990185620 | &nbsp;&nbsp;$699345829 | &nbsp;&nbsp;$240708269 | &nbsp;&nbsp;$169650690 |
| Total accumulated earnings (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;162245204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499160014 | &nbsp;&nbsp;&nbsp;&nbsp;267251456 | &nbsp;&nbsp;&nbsp;&nbsp;41127086 | &nbsp;&nbsp;&nbsp;&nbsp;353300212 |
| &nbsp;&nbsp;&nbsp;Net assets<br>| &nbsp;&nbsp;$528791562 | &nbsp;&nbsp;$1489345634 | &nbsp;&nbsp;$966597285 | &nbsp;&nbsp;$281835355 | &nbsp;&nbsp;$522950902 |
| **Class 1 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$2690837 | &nbsp;&nbsp;$6445487 | &nbsp;&nbsp;$930355245 | &nbsp;&nbsp;$133527870 | &nbsp;&nbsp;$314821154 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354970 | &nbsp;&nbsp;&nbsp;&nbsp;61616240 | &nbsp;&nbsp;&nbsp;&nbsp;18664903 | &nbsp;&nbsp;&nbsp;&nbsp;13440868 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$16.99 | &nbsp;&nbsp;$18.16 | &nbsp;&nbsp;$15.10 | &nbsp;&nbsp;$7.15 | &nbsp;&nbsp;$23.42 |
| **Class 2 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$2014187 | &nbsp;&nbsp;$8459441 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381287 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$6.44 | &nbsp;&nbsp;$22.19 |
| **Class 3 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$526100725 | &nbsp;&nbsp;$1482900147 | &nbsp;&nbsp;$36242040 | &nbsp;&nbsp;$146293298 | &nbsp;&nbsp;$199670307 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;31159894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82112999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2423644 | &nbsp;&nbsp;&nbsp;&nbsp;24306114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9372101 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$16.88 | &nbsp;&nbsp;$18.06 | &nbsp;&nbsp;$14.95 | &nbsp;&nbsp;$6.02 | &nbsp;&nbsp;$21.30 |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF ASSETS AND LIABILITIES — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA JPMorgan<br> Diversified<br> Balanced** | &nbsp;&nbsp;**SA JPMorgan<br> Emerging<br> Markets** | &nbsp;&nbsp;**SA JPMorgan<br> Equity-<br> Income** | &nbsp;&nbsp;**SA JPMorgan<br> Large Cap Core** | &nbsp;&nbsp;**SA JPMorgan<br> MFS Core<br> Bond** |
| **ASSETS:** |  |  |  |  |  |
| Investments at value (unaffiliated)\*<br>| &nbsp;&nbsp;$421905471 | &nbsp;&nbsp;$181456700 | &nbsp;&nbsp;$828618522 | &nbsp;&nbsp;$580246745 | &nbsp;&nbsp;$1834559386 |
| Investments at value (affiliated)\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Repurchase agreements (cost approximates value)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5219177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438607 |
| Cash<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4212123 | &nbsp;&nbsp;&nbsp;&nbsp;14843502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151837 |
| Foreign cash\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;726472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1221000 |
| Cash collateral on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral for over-the-counter derivative contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for variation margin on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145148 |
| Receivable for variation margin on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fund shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18257 |
| &nbsp;&nbsp;&nbsp;Dividends and interest<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1812320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1298716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13945360 |
| &nbsp;&nbsp;&nbsp;Investments sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7939975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2571140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4770390 |
| &nbsp;&nbsp;&nbsp;Written options<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Receipts on swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Prepaid expenses and other assets<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due from investment adviser for expense reimbursements/fee waivers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154174 |
| Premiums paid on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on forward foreign currency contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total assets<br>| &nbsp;&nbsp;&nbsp;&nbsp;436624272 | &nbsp;&nbsp;&nbsp;&nbsp;198271371 | &nbsp;&nbsp;&nbsp;&nbsp;830115825 | &nbsp;&nbsp;&nbsp;&nbsp;588382410 | &nbsp;&nbsp;&nbsp;&nbsp;1855404159 |
| **LIABILITIES:** |  |  |  |  |  |
| Payable for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fund shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;686335 |
| &nbsp;&nbsp;&nbsp;Investments purchased<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6429823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1289154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22919157 |
| &nbsp;&nbsp;&nbsp;Payments on swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Investment advisory and management fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925044 |
| &nbsp;&nbsp;&nbsp;Service fees—Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695 |
| &nbsp;&nbsp;&nbsp;Service fees—Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176012 |
| &nbsp;&nbsp;&nbsp;Transfer agent fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211 |
| &nbsp;&nbsp;&nbsp;Trustees' fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16045 |
| &nbsp;&nbsp;&nbsp;Other accrued expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227914 |
| &nbsp;&nbsp;&nbsp;Interest on Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Line of credit<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Accrued foreign tax on capital gains<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Premiums received on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to investment adviser from expense recoupment<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian for foreign cash\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for variation margin on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for variation margin on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on over-the-counter derivative contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Forward sales contracts, at value\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Call and put options written, at value@<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on forward foreign currency contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7834712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2142048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24951413 |
| **Commitments and contingent liabilities (Note 5)** |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$428789560 | &nbsp;&nbsp;$197520780 | &nbsp;&nbsp;$829235062 | &nbsp;&nbsp;$586240362 | &nbsp;&nbsp;$1830452746 |
| <br>\* Cost |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (unaffiliated)<br>| &nbsp;&nbsp;$383268736 | &nbsp;&nbsp;$149147548 | &nbsp;&nbsp;$627285461 | &nbsp;&nbsp;$467807687 | &nbsp;&nbsp;$1931269497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign cash<br>| &nbsp;&nbsp;$14145 | &nbsp;&nbsp;$652118 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from forward sales contracts<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| @ Premiums received on options written<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF ASSETS AND LIABILITIES — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA JPMorgan<br> Diversified<br> Balanced** | &nbsp;&nbsp;**SA JPMorgan<br> Emerging<br> Markets** | &nbsp;&nbsp;**SA JPMorgan<br> Equity-<br> Income** | &nbsp;&nbsp;**SA JPMorgan<br> Large Cap Core** | &nbsp;&nbsp;**SA JPMorgan<br> MFS Core<br> Bond** |
| **NET ASSETS REPRESENTED BY:** |  |  |  |  |  |
| Paid in capital<br>| &nbsp;&nbsp;$363136761 | &nbsp;&nbsp;$177558006 | &nbsp;&nbsp;$430667621 | &nbsp;&nbsp;$388176757 | &nbsp;&nbsp;$1971298233 |
| Total accumulated earnings (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;65652799 | &nbsp;&nbsp;&nbsp;&nbsp;19962774 | &nbsp;&nbsp;&nbsp;&nbsp;398567441 | &nbsp;&nbsp;&nbsp;&nbsp;198063605 | &nbsp;&nbsp;&nbsp;&nbsp;(140845487) |
| &nbsp;&nbsp;&nbsp;Net assets<br>| &nbsp;&nbsp;$428789560 | &nbsp;&nbsp;$197520780 | &nbsp;&nbsp;$829235062 | &nbsp;&nbsp;$586240362 | &nbsp;&nbsp;$1830452746 |
| **Class 1 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$121541042 | &nbsp;&nbsp;$74828069 | &nbsp;&nbsp;$466509450 | &nbsp;&nbsp;$450151269 | &nbsp;&nbsp;$998750452 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5927150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7908159 | &nbsp;&nbsp;&nbsp;&nbsp;13397797 | &nbsp;&nbsp;&nbsp;&nbsp;17912347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120098731 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$20.51 | &nbsp;&nbsp;$9.46 | &nbsp;&nbsp;$34.82 | &nbsp;&nbsp;$25.13 | &nbsp;&nbsp;$8.32 |
| **Class 2 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$16620340 | &nbsp;&nbsp;$2339178 | &nbsp;&nbsp;$9059302 | &nbsp;&nbsp;$3687276 | &nbsp;&nbsp;$5447994 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;814573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657535 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$20.40 | &nbsp;&nbsp;$9.42 | &nbsp;&nbsp;$34.73 | &nbsp;&nbsp;$25.12 | &nbsp;&nbsp;$8.29 |
| **Class 3 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$290628178 | &nbsp;&nbsp;$120353533 | &nbsp;&nbsp;$353666310 | &nbsp;&nbsp;$132401817 | &nbsp;&nbsp;$826254300 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;14360949 | &nbsp;&nbsp;&nbsp;&nbsp;12925331 | &nbsp;&nbsp;&nbsp;&nbsp;10299891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5326400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100632203 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$20.24 | &nbsp;&nbsp;$9.31 | &nbsp;&nbsp;$34.34 | &nbsp;&nbsp;$24.86 | &nbsp;&nbsp;$8.21 |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF ASSETS AND LIABILITIES — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA JPMorgan<br> Mid-Cap<br> Growth** | &nbsp;&nbsp;**SA JPMorgan<br> Ultra-Short<br> Bond** | &nbsp;&nbsp;**SA Large<br> Cap Growth<br> Index** | &nbsp;&nbsp;**SA Large<br> Cap Index** | &nbsp;&nbsp;**SA Large<br> Cap Value<br> Index** |
| **ASSETS:** |  |  |  |  |  |
| Investments at value (unaffiliated)\*<br>| &nbsp;&nbsp;$713959688 | &nbsp;&nbsp;$344133974 | &nbsp;&nbsp;$739993198 | &nbsp;&nbsp;$3399229979 | &nbsp;&nbsp;$652619324 |
| Investments at value (affiliated)\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Repurchase agreements (cost approximates value)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64 |
| Foreign cash\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;754000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132852 |
| Cash collateral on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral for over-the-counter derivative contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for variation margin on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17136 |
| Receivable for variation margin on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fund shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2182171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Dividends and interest<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3055906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1936833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639538 |
| &nbsp;&nbsp;&nbsp;Investments sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3599176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written options<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Receipts on swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Prepaid expenses and other assets<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due from investment adviser for expense reimbursements/fee waivers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Premiums paid on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on forward foreign currency contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total assets<br>| &nbsp;&nbsp;&nbsp;&nbsp;717622826 | &nbsp;&nbsp;&nbsp;&nbsp;349372168 | &nbsp;&nbsp;&nbsp;&nbsp;740514421 | &nbsp;&nbsp;&nbsp;&nbsp;3402447564 | &nbsp;&nbsp;&nbsp;&nbsp;653408914 |
| **LIABILITIES:** |  |  |  |  |  |
| Payable for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fund shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1740393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342342 |
| &nbsp;&nbsp;&nbsp;Investments purchased<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3170545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Payments on swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Investment advisory and management fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167445 |
| &nbsp;&nbsp;&nbsp;Service fees—Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Service fees—Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16311 |
| &nbsp;&nbsp;&nbsp;Transfer agent fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129 |
| &nbsp;&nbsp;&nbsp;Trustees' fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4467 |
| &nbsp;&nbsp;&nbsp;Other accrued expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109371 |
| &nbsp;&nbsp;&nbsp;Interest on Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Line of credit<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Accrued foreign tax on capital gains<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Premiums received on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to investment adviser from expense recoupment<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 |
| Due to custodian<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian for foreign cash\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for variation margin on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for variation margin on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on over-the-counter derivative contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Forward sales contracts, at value\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Call and put options written, at value@<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on forward foreign currency contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2874907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3462522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3165808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640495 |
| **Commitments and contingent liabilities (Note 5)** |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$714747919 | &nbsp;&nbsp;$345909646 | &nbsp;&nbsp;$739836904 | &nbsp;&nbsp;$3399281756 | &nbsp;&nbsp;$652768419 |
| <br>\* Cost |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (unaffiliated)<br>| &nbsp;&nbsp;$587324631 | &nbsp;&nbsp;$343612080 | &nbsp;&nbsp;$505458025 | &nbsp;&nbsp;$1399794882 | &nbsp;&nbsp;$615869430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign cash<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from forward sales contracts<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| @ Premiums received on options written<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF ASSETS AND LIABILITIES — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA JPMorgan<br> Mid-Cap<br> Growth** | &nbsp;&nbsp;**SA JPMorgan<br> Ultra-Short<br> Bond** | &nbsp;&nbsp;**SA Large<br> Cap Growth<br> Index** | &nbsp;&nbsp;**SA Large<br> Cap Index** | &nbsp;&nbsp;**SA Large<br> Cap Value<br> Index** |
| **NET ASSETS REPRESENTED BY:** |  |  |  |  |  |
| Paid in capital<br>| &nbsp;&nbsp;$496140792 | &nbsp;&nbsp;$333097285 | &nbsp;&nbsp;$372620819 | &nbsp;&nbsp;$800940268 | &nbsp;&nbsp;$550159594 |
| Total accumulated earnings (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;218607127 | &nbsp;&nbsp;&nbsp;&nbsp;12812361 | &nbsp;&nbsp;&nbsp;&nbsp;367216085 | &nbsp;&nbsp;&nbsp;&nbsp;2598341488 | &nbsp;&nbsp;&nbsp;&nbsp;102608825 |
| &nbsp;&nbsp;&nbsp;Net assets<br>| &nbsp;&nbsp;$714747919 | &nbsp;&nbsp;$345909646 | &nbsp;&nbsp;$739836904 | &nbsp;&nbsp;$3399281756 | &nbsp;&nbsp;$652768419 |
| **Class 1 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$259990302 | &nbsp;&nbsp;$113815587 | &nbsp;&nbsp;$659013290 | &nbsp;&nbsp;$3265136385 | &nbsp;&nbsp;$576388638 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;12249582 | &nbsp;&nbsp;&nbsp;&nbsp;10304576 | &nbsp;&nbsp;&nbsp;&nbsp;20247363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76359267 | &nbsp;&nbsp;&nbsp;&nbsp;29569140 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$21.22 | &nbsp;&nbsp;$11.05 | &nbsp;&nbsp;$32.55 | &nbsp;&nbsp;$42.76 | &nbsp;&nbsp;$19.49 |
| **Class 2 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$14132530 | &nbsp;&nbsp;$9380841 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;863163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$19.48 | &nbsp;&nbsp;$10.87 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| **Class 3 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$440625087 | &nbsp;&nbsp;$222713218 | &nbsp;&nbsp;$80823614 | &nbsp;&nbsp;$134145371 | &nbsp;&nbsp;$76379781 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;23921682 | &nbsp;&nbsp;&nbsp;&nbsp;20758245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2507065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3163649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3960446 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$18.42 | &nbsp;&nbsp;$10.73 | &nbsp;&nbsp;$32.24 | &nbsp;&nbsp;$42.40 | &nbsp;&nbsp;$19.29 |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF ASSETS AND LIABILITIES — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA MFS<br> Large Cap<br> Growth(2)** | &nbsp;&nbsp;**SA MFS<br> Massachusetts<br> Investors<br> Trust** | &nbsp;&nbsp;**SA MFS<br> Total<br> Return** | &nbsp;&nbsp;**SA Mid<br> Cap Index** | &nbsp;&nbsp;**SA Morgan<br> Stanley<br> International<br> Equities** |
| **ASSETS:** |  |  |  |  |  |
| Investments at value (unaffiliated)\*<br>| &nbsp;&nbsp;$858815402 | &nbsp;&nbsp;$643473891 | &nbsp;&nbsp;$485988265 | &nbsp;&nbsp;$497574201 | &nbsp;&nbsp;$336514237 |
| Investments at value (affiliated)\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Repurchase agreements (cost approximates value)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3958692 |
| Foreign cash\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2056857 |
| Cash collateral on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral for over-the-counter derivative contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for variation margin on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for variation margin on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fund shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25484 |
| &nbsp;&nbsp;&nbsp;Dividends and interest<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1938956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1829207 |
| &nbsp;&nbsp;&nbsp;Investments sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;635881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1210839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2185816 |
| &nbsp;&nbsp;&nbsp;Written options<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Receipts on swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Prepaid expenses and other assets<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due from investment adviser for expense reimbursements/fee waivers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14981 |
| Premiums paid on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on forward foreign currency contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total assets<br>| &nbsp;&nbsp;&nbsp;&nbsp;859119542 | &nbsp;&nbsp;&nbsp;&nbsp;644493666 | &nbsp;&nbsp;&nbsp;&nbsp;489175777 | &nbsp;&nbsp;&nbsp;&nbsp;498375433 | &nbsp;&nbsp;&nbsp;&nbsp;346585274 |
| **LIABILITIES:** |  |  |  |  |  |
| Payable for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fund shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155347 |
| &nbsp;&nbsp;&nbsp;Investments purchased<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7478294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2012741 |
| &nbsp;&nbsp;&nbsp;Payments on swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Investment advisory and management fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250307 |
| &nbsp;&nbsp;&nbsp;Service fees—Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692 |
| &nbsp;&nbsp;&nbsp;Service fees—Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24090 |
| &nbsp;&nbsp;&nbsp;Transfer agent fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222 |
| &nbsp;&nbsp;&nbsp;Trustees' fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3307 |
| &nbsp;&nbsp;&nbsp;Other accrued expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97126 |
| &nbsp;&nbsp;&nbsp;Interest on Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Line of credit<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Accrued foreign tax on capital gains<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Premiums received on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to investment adviser from expense recoupment<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian for foreign cash\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for variation margin on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for variation margin on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on over-the-counter derivative contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Forward sales contracts, at value\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Call and put options written, at value@<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on forward foreign currency contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8172263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2543832 |
| **Commitments and contingent liabilities (Note 5)** |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$857949209 | &nbsp;&nbsp;$643633200 | &nbsp;&nbsp;$481003514 | &nbsp;&nbsp;$497408304 | &nbsp;&nbsp;$344041442 |
| <br>\* Cost |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (unaffiliated)<br>| &nbsp;&nbsp;$566870612 | &nbsp;&nbsp;$457039196 | &nbsp;&nbsp;$438906617 | &nbsp;&nbsp;$394962402 | &nbsp;&nbsp;$291134402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign cash<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$2087511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from forward sales contracts<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| @ Premiums received on options written<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF ASSETS AND LIABILITIES — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA MFS<br> Large Cap<br> Growth(2)** | &nbsp;&nbsp;**SA MFS<br> Massachusetts<br> Investors<br> Trust** | &nbsp;&nbsp;**SA MFS<br> Total<br> Return** | &nbsp;&nbsp;**SA Mid<br> Cap Index** | &nbsp;&nbsp;**SA Morgan<br> Stanley<br> International<br> Equities** |
| **NET ASSETS REPRESENTED BY:** |  |  |  |  |  |
| Paid in capital<br>| &nbsp;&nbsp;$321478241 | &nbsp;&nbsp;$160300209 | &nbsp;&nbsp;$362744253 | &nbsp;&nbsp;$347426298 | &nbsp;&nbsp;$250380375 |
| Total accumulated earnings (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;536470968 | &nbsp;&nbsp;&nbsp;&nbsp;483332991 | &nbsp;&nbsp;&nbsp;&nbsp;118259261 | &nbsp;&nbsp;&nbsp;&nbsp;149982006 | &nbsp;&nbsp;&nbsp;&nbsp;93661067 |
| &nbsp;&nbsp;&nbsp;Net assets<br>| &nbsp;&nbsp;$857949209 | &nbsp;&nbsp;$643633200 | &nbsp;&nbsp;$481003514 | &nbsp;&nbsp;$497408304 | &nbsp;&nbsp;$344041442 |
| **Class 1 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$569360754 | &nbsp;&nbsp;$339431630 | &nbsp;&nbsp;$113258243 | &nbsp;&nbsp;$407390679 | &nbsp;&nbsp;$227992153 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;31034446 | &nbsp;&nbsp;&nbsp;&nbsp;14811879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5956986 | &nbsp;&nbsp;&nbsp;&nbsp;26020758 | &nbsp;&nbsp;&nbsp;&nbsp;20476683 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$18.35 | &nbsp;&nbsp;$22.92 | &nbsp;&nbsp;$19.01 | &nbsp;&nbsp;$15.66 | &nbsp;&nbsp;$11.13 |
| **Class 2 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$32702835 | &nbsp;&nbsp;$6579208 | &nbsp;&nbsp;$16198919 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$5304326 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1802912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478577 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$18.14 | &nbsp;&nbsp;$22.96 | &nbsp;&nbsp;$19.05 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$11.08 |
| **Class 3 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$255885620 | &nbsp;&nbsp;$297622362 | &nbsp;&nbsp;$351546352 | &nbsp;&nbsp;$90017625 | &nbsp;&nbsp;$110744963 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;14375857 | &nbsp;&nbsp;&nbsp;&nbsp;13117288 | &nbsp;&nbsp;&nbsp;&nbsp;18588378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5813222 | &nbsp;&nbsp;&nbsp;&nbsp;10033770 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$17.80 | &nbsp;&nbsp;$22.69 | &nbsp;&nbsp;$18.91 | &nbsp;&nbsp;$15.48 | &nbsp;&nbsp;$11.04 |

---

 <br> (2) Prior to April 28, 2025, the Portfolio was known as SA MFS Blue Chip Growth Portfolio.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF ASSETS AND LIABILITIES — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA PIMCO<br> Global Bond<br> Opportunities** | &nbsp;&nbsp;**SA PIMCO<br> RAE<br> International<br> Value** | &nbsp;&nbsp;**SA<br> PineBridge<br> High-Yield<br> Bond** | &nbsp;&nbsp;**SA Putnam<br> International<br> Value(3)** | &nbsp;&nbsp;**SA Schroders<br> VCP Global<br> Allocation** |
| **ASSETS:** |  |  |  |  |  |
| Investments at value (unaffiliated)\*<br>| &nbsp;&nbsp;$434005129 | &nbsp;&nbsp;$424623440 | &nbsp;&nbsp;$258609903 | &nbsp;&nbsp;$324201114 | &nbsp;&nbsp;$408102825 |
| Investments at value (affiliated)\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Repurchase agreements (cost approximates value)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4398809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131 |
| Foreign cash\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1781839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223654 |
| Cash collateral on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7491740 |
| Cash collateral on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5894000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral for over-the-counter derivative contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for variation margin on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for variation margin on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fund shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Dividends and interest<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2491854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4199511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4493474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;798128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2738021 |
| &nbsp;&nbsp;&nbsp;Investments sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;122629634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129880 |
| &nbsp;&nbsp;&nbsp;Written options<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Receipts on swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5219688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Prepaid expenses and other assets<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due from investment adviser for expense reimbursements/fee waivers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8809 |
| Premiums paid on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on forward foreign currency contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3347005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1280731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523781 |
| Unrealized appreciation on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total assets<br>| &nbsp;&nbsp;&nbsp;&nbsp;575614333 | &nbsp;&nbsp;&nbsp;&nbsp;429432952 | &nbsp;&nbsp;&nbsp;&nbsp;263400206 | &nbsp;&nbsp;&nbsp;&nbsp;331283350 | &nbsp;&nbsp;&nbsp;&nbsp;419218841 |
| **LIABILITIES:** |  |  |  |  |  |
| Payable for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fund shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145009 |
| &nbsp;&nbsp;&nbsp;Investments purchased<br>| &nbsp;&nbsp;&nbsp;&nbsp;255760685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28758 |
| &nbsp;&nbsp;&nbsp;Payments on swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4202697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Investment advisory and management fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299882 |
| &nbsp;&nbsp;&nbsp;Service fees—Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Service fees—Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88969 |
| &nbsp;&nbsp;&nbsp;Transfer agent fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47 |
| &nbsp;&nbsp;&nbsp;Trustees' fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4463 |
| &nbsp;&nbsp;&nbsp;Other accrued expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123877 |
| &nbsp;&nbsp;&nbsp;Interest on Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Line of credit<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Accrued foreign tax on capital gains<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Premiums received on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to investment adviser from expense recoupment<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian for foreign cash\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for variation margin on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154161 |
| Payable for variation margin on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on over-the-counter derivative contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Forward sales contracts, at value\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;30626184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Call and put options written, at value@<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on forward foreign currency contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1251711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507013 |
| Unrealized depreciation on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;295426896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;965660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;881898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6139757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1352179 |
| **Commitments and contingent liabilities (Note 5)** |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$280187437 | &nbsp;&nbsp;$428467292 | &nbsp;&nbsp;$262518308 | &nbsp;&nbsp;$325143593 | &nbsp;&nbsp;$417866662 |
| <br>\* Cost |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (unaffiliated)<br>| &nbsp;&nbsp;$429624842 | &nbsp;&nbsp;$387875098 | &nbsp;&nbsp;$258748893 | &nbsp;&nbsp;$247643165 | &nbsp;&nbsp;$358349343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign cash<br>| &nbsp;&nbsp;$1812684 | &nbsp;&nbsp;$582220 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$570663 | &nbsp;&nbsp;$232746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from forward sales contracts<br>| &nbsp;&nbsp;$30690195 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| @ Premiums received on options written<br>| &nbsp;&nbsp;$114449 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF ASSETS AND LIABILITIES — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA PIMCO<br> Global Bond<br> Opportunities** | &nbsp;&nbsp;**SA PIMCO<br> RAE<br> International<br> Value** | &nbsp;&nbsp;**SA<br> PineBridge<br> High-Yield<br> Bond** | &nbsp;&nbsp;**SA Putnam<br> International<br> Value(3)** | &nbsp;&nbsp;**SA Schroders<br> VCP Global<br> Allocation** |
| **NET ASSETS REPRESENTED BY:** |  |  |  |  |  |
| Paid in capital<br>| &nbsp;&nbsp;$307306806 | &nbsp;&nbsp;$340636499 | &nbsp;&nbsp;$271375674 | &nbsp;&nbsp;$188977727 | &nbsp;&nbsp;$380517164 |
| Total accumulated earnings (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(27119369) | &nbsp;&nbsp;&nbsp;&nbsp;87830793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8857366) | &nbsp;&nbsp;&nbsp;&nbsp;136165866 | &nbsp;&nbsp;&nbsp;&nbsp;37349498 |
| &nbsp;&nbsp;&nbsp;Net assets<br>| &nbsp;&nbsp;$280187437 | &nbsp;&nbsp;$428467292 | &nbsp;&nbsp;$262518308 | &nbsp;&nbsp;$325143593 | &nbsp;&nbsp;$417866662 |
| **Class 1 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$48724224 | &nbsp;&nbsp;$107816559 | &nbsp;&nbsp;$133573677 | &nbsp;&nbsp;$214894866 | &nbsp;&nbsp;$366067 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5090178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6842583 | &nbsp;&nbsp;&nbsp;&nbsp;24653618 | &nbsp;&nbsp;&nbsp;&nbsp;15378782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31801 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$9.57 | &nbsp;&nbsp;$15.76 | &nbsp;&nbsp;$5.42 | &nbsp;&nbsp;$13.97 | &nbsp;&nbsp;$11.51 |
| **Class 2 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$1936322 | &nbsp;&nbsp;$7797832 | &nbsp;&nbsp;$5091237 | &nbsp;&nbsp;$4942975 | &nbsp;&nbsp;$— |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$9.44 | &nbsp;&nbsp;$15.77 | &nbsp;&nbsp;$5.42 | &nbsp;&nbsp;$14.07 | &nbsp;&nbsp;$— |
| **Class 3 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$229526891 | &nbsp;&nbsp;$312852901 | &nbsp;&nbsp;$123853394 | &nbsp;&nbsp;$105305752 | &nbsp;&nbsp;$417500595 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;24703244 | &nbsp;&nbsp;&nbsp;&nbsp;19908337 | &nbsp;&nbsp;&nbsp;&nbsp;23080526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7508561 | &nbsp;&nbsp;&nbsp;&nbsp;36349638 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$9.29 | &nbsp;&nbsp;$15.71 | &nbsp;&nbsp;$5.37 | &nbsp;&nbsp;$14.02 | &nbsp;&nbsp;$11.49 |

---

 <br> (3) Prior to April 28, 2025, the Portfolio was known as SA Putnam International Growth and Income Portfolio.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF ASSETS AND LIABILITIES — July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Small<br> Cap Index** | &nbsp;&nbsp;**SA T. Rowe<br> Price Allocation<br> Moderately<br> Aggressive(4)** | &nbsp;&nbsp;**SA T. Rowe Price<br> VCP Balanced** | &nbsp;&nbsp;**SA VCP<br> Dynamic<br> Allocation** | &nbsp;&nbsp;**SA VCP<br> Dynamic<br> Strategy** |
| **ASSETS:** |  |  |  |  |  |
| Investments at value (unaffiliated)\*<br>| &nbsp;&nbsp;$293530426 | &nbsp;&nbsp;$772639582 | &nbsp;&nbsp;$1377821174 | &nbsp;&nbsp;$1513084250 | &nbsp;&nbsp;$794355179 |
| Investments at value (affiliated)\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;7721971823 | &nbsp;&nbsp;&nbsp;&nbsp;4119381737 |
| Repurchase agreements (cost approximates value)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20149 |
| Foreign cash\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551 |
| Cash collateral on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral for over-the-counter derivative contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for variation margin on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for variation margin on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fund shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Dividends and interest<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2217064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6138613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18147025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9805647 |
| &nbsp;&nbsp;&nbsp;Investments sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1595876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13722562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11986094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5222424 |
| &nbsp;&nbsp;&nbsp;Written options<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Receipts on swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Prepaid expenses and other assets<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due from investment adviser for expense reimbursements/fee waivers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17952 |
| Premiums paid on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on forward foreign currency contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total assets<br>| &nbsp;&nbsp;&nbsp;&nbsp;294420428 | &nbsp;&nbsp;&nbsp;&nbsp;776663536 | &nbsp;&nbsp;&nbsp;&nbsp;1398244193 | &nbsp;&nbsp;&nbsp;&nbsp;9265308269 | &nbsp;&nbsp;&nbsp;&nbsp;4928803639 |
| **LIABILITIES:** |  |  |  |  |  |
| Payable for: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Fund shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1058744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4832712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2032394 |
| &nbsp;&nbsp;&nbsp;Investments purchased<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2172001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11526615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10288547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4998407 |
| &nbsp;&nbsp;&nbsp;Payments on swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Investment advisory and management fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1654306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;923958 |
| &nbsp;&nbsp;&nbsp;Service fees—Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Service fees—Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1956202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1043348 |
| &nbsp;&nbsp;&nbsp;Transfer agent fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82 |
| &nbsp;&nbsp;&nbsp;Trustees' fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41871 |
| &nbsp;&nbsp;&nbsp;Other accrued expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176066 |
| &nbsp;&nbsp;&nbsp;Interest on Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Line of credit<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Accrued foreign tax on capital gains<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Premiums received on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to investment adviser from expense recoupment<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian for foreign cash\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for variation margin on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1629741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5176984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1425078 |
| Payable for variation margin on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on over-the-counter derivative contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67097335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36584000 |
| Forward sales contracts, at value\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Call and put options written, at value@<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on forward foreign currency contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19255017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91495338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47225204 |
| **Commitments and contingent liabilities (Note 5)** |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$293898342 | &nbsp;&nbsp;$772662783 | &nbsp;&nbsp;$1378989176 | &nbsp;&nbsp;$9173812931 | &nbsp;&nbsp;$4881578435 |
| <br>\* Cost |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (unaffiliated)<br>| &nbsp;&nbsp;$262763532 | &nbsp;&nbsp;$629334774 | &nbsp;&nbsp;$1199317759 | &nbsp;&nbsp;$1546269073 | &nbsp;&nbsp;$813031139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$6821870914 | &nbsp;&nbsp;$3712930077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign cash<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$205240 | &nbsp;&nbsp;$334934 | &nbsp;&nbsp;$(29415) | &nbsp;&nbsp;$563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from forward sales contracts<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| @ Premiums received on options written<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements | See Notes to Financial Statements |

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF ASSETS AND LIABILITIES — July 31, 2025 (unaudited) — (continued)

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Small<br> Cap Index** | &nbsp;&nbsp;**SA T. Rowe<br> Price Allocation<br> Moderately<br> Aggressive(4)** | &nbsp;&nbsp;**SA T. Rowe Price<br> VCP Balanced** | &nbsp;&nbsp;**SA VCP<br> Dynamic<br> Allocation** | &nbsp;&nbsp;**SA VCP<br> Dynamic<br> Strategy** |
| **NET ASSETS REPRESENTED BY:** |  |  |  |  |  |
| Paid in capital<br>| &nbsp;&nbsp;$238016109 | &nbsp;&nbsp;$555431755 | &nbsp;&nbsp;$1093164654 | &nbsp;&nbsp;$8052383470 | &nbsp;&nbsp;$4381234815 |
| Total accumulated earnings (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;55882233 | &nbsp;&nbsp;&nbsp;&nbsp;217231028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285824522 | &nbsp;&nbsp;&nbsp;&nbsp;1121429461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500343620 |
| &nbsp;&nbsp;&nbsp;Net assets<br>| &nbsp;&nbsp;$293898342 | &nbsp;&nbsp;$772662783 | &nbsp;&nbsp;$1378989176 | &nbsp;&nbsp;$9173812931 | &nbsp;&nbsp;$4881578435 |
| **Class 1 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$215236330 | &nbsp;&nbsp;$402394 | &nbsp;&nbsp;$255010 | &nbsp;&nbsp;$979725 | &nbsp;&nbsp;$598167 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;16368545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45829 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$13.15 | &nbsp;&nbsp;$16.61 | &nbsp;&nbsp;$13.39 | &nbsp;&nbsp;$12.61 | &nbsp;&nbsp;$13.05 |
| **Class 2 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| **Class 3 (unlimited shares authorized):<br>**  |  |  |  |  |  |
| Net assets<br>| &nbsp;&nbsp;$78662012 | &nbsp;&nbsp;$772260389 | &nbsp;&nbsp;$1378734166 | &nbsp;&nbsp;$9172833206 | &nbsp;&nbsp;$4880980268 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6046597 | &nbsp;&nbsp;&nbsp;&nbsp;46653981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103170331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;727705059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373986179 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$13.01 | &nbsp;&nbsp;$16.55 | &nbsp;&nbsp;$13.36 | &nbsp;&nbsp;$12.61 | &nbsp;&nbsp;$13.05 |

---

 <br> (4) Prior to April 28, 2025, the Portfolio was known as SA T. Rowe Price Asset Allocation Growth Portfolio.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF ASSETS AND LIABILITIES — July 31, 2025 (unaudited) — (continued)

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;**SA VCP<br> Index<br> Allocation** |
| **ASSETS:** |  |
| Investments at value (unaffiliated)\*<br>| &nbsp;&nbsp;$100501343 |
| Investments at value (affiliated)\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;453637559 |
| Repurchase agreements (cost approximates value)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 |
| Foreign cash\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Cash collateral for over-the-counter derivative contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for variation margin on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for variation margin on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Receivable for: |  |
| &nbsp;&nbsp;&nbsp;Fund shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135751 |
| &nbsp;&nbsp;&nbsp;Dividends and interest<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503786 |
| &nbsp;&nbsp;&nbsp;Investments sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written options<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Receipts on swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Prepaid expenses and other assets<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due from investment adviser for expense reimbursements/fee waivers<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Premiums paid on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on forward foreign currency contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized appreciation on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total assets<br>| &nbsp;&nbsp;&nbsp;&nbsp;554778461 |
| **LIABILITIES:** |  |
| Payable for: |  |
| &nbsp;&nbsp;&nbsp;Fund shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65174 |
| &nbsp;&nbsp;&nbsp;Investments purchased<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56070 |
| &nbsp;&nbsp;&nbsp;Payments on swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Investment advisory and management fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92981 |
| &nbsp;&nbsp;&nbsp;Service fees—Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Service fees—Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117546 |
| &nbsp;&nbsp;&nbsp;Transfer agent fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 |
| &nbsp;&nbsp;&nbsp;Trustees' fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5082 |
| &nbsp;&nbsp;&nbsp;Other accrued expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58506 |
| &nbsp;&nbsp;&nbsp;Interest on Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Line of credit<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Accrued foreign tax on capital gains<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Premiums received on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to investment adviser from expense recoupment<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Due to custodian for foreign cash\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for variation margin on futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589469 |
| Payable for variation margin on centrally cleared swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on over-the-counter derivative contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1090000 |
| Forward sales contracts, at value\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Call and put options written, at value@<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on forward foreign currency contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Unrealized depreciation on over-the-counter swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Payable for collateral on Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2074887 |
| **Commitments and contingent liabilities (Note 5)** |  |
| Net assets<br>| &nbsp;&nbsp;$552703574 |
| <br>\* Cost |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (unaffiliated)<br>| &nbsp;&nbsp;$101987536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;$370144798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign cash<br>| &nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from forward sales contracts<br>| &nbsp;&nbsp;$— |
| @ Premiums received on options written<br>| &nbsp;&nbsp;$— |
| See Notes to Financial Statements | See Notes to Financial Statements |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF ASSETS AND LIABILITIES — July 31, 2025 (unaudited) — (continued)

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;**SA VCP<br> Index<br> Allocation** |
| **NET ASSETS REPRESENTED BY:** |  |
| Paid in capital<br>| &nbsp;&nbsp;$448472509 |
| Total accumulated earnings (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;104231065 |
| &nbsp;&nbsp;&nbsp;Net assets<br>| &nbsp;&nbsp;$552703574 |
| **Class 1 (unlimited shares authorized):<br>**  |  |
| Net assets<br>| &nbsp;&nbsp;$557610 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41860 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$13.32 |
| **Class 2 (unlimited shares authorized):<br>**  |  |
| Net assets<br>| &nbsp;&nbsp;$— |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$— |
| **Class 3 (unlimited shares authorized):<br>**  |  |
| Net assets<br>| &nbsp;&nbsp;$552145964 |
| Shares of beneficial interest issued and outstanding<br>| &nbsp;&nbsp;&nbsp;&nbsp;41536326 |
| **Net asset value, offering and redemption price per share<br>**  | &nbsp;&nbsp;$13.29 |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF OPERATIONS — For the Six Months Ended July 31, 2025 (unaudited)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA AB<br> Growth** | &nbsp;&nbsp;**SA AB<br> Small & Mid<br> Cap Value** | &nbsp;&nbsp;**SA BlackRock<br> Multi-Factor<br> 70/30** | &nbsp;&nbsp;**SA Emerging<br> Markets<br> Equity Index** | &nbsp;&nbsp;**SA Federated<br> Hermes<br> Corporate<br> Bond** |
| **INVESTMENT INCOME:** |  |  |  |  |  |
| Dividends (unaffiliated)<br>| &nbsp;&nbsp;$4673895 | &nbsp;&nbsp;$4142643 | &nbsp;&nbsp;$1145299 | &nbsp;&nbsp;$1535353 | &nbsp;&nbsp;$— |
| Dividends (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest (unaffiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7465 | &nbsp;&nbsp;&nbsp;&nbsp;32708886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;4820543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4176152 | &nbsp;&nbsp;&nbsp;&nbsp;1431973 | &nbsp;&nbsp;&nbsp;&nbsp;1542818 | &nbsp;&nbsp;&nbsp;&nbsp;32708886 |
| **EXPENSES:** |  |  |  |  |  |
| Investment advisory and management fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;5235878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2127403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214311 | &nbsp;&nbsp;&nbsp;&nbsp;3796484 |
| Service Fees: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7452 |
| &nbsp;&nbsp;&nbsp;Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25452 | &nbsp;&nbsp;&nbsp;&nbsp;1288196 |
| Transfer agent fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1343 |
| Custodian and accounting fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91076 |
| Reports to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47824 |
| Audit and tax fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30404 |
| Legal fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7940 |
| Trustees' fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19592 |
| Interest expense<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1140 |
| Short sale dividend expense<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| License fee<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6138 |
| Other expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses before fee waivers, expense reimbursements, expense recoupments and fees paid indirectly<br>| &nbsp;&nbsp;&nbsp;&nbsp;6325711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2707542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485272 | &nbsp;&nbsp;&nbsp;&nbsp;5321862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net (fees waived and expenses reimbursed)/ recouped by investment advisor (Note 5)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(160644) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(232399) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(183242) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fees paid indirectly (Note 2)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5279) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17171) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;6320432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2529727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302030 | &nbsp;&nbsp;&nbsp;&nbsp;5321862 |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(1499889) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1646425 | &nbsp;&nbsp;&nbsp;&nbsp;1103337 | &nbsp;&nbsp;&nbsp;&nbsp;1240788 | &nbsp;&nbsp;&nbsp;&nbsp;27387024 |
| **REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCIES:** |  |  |  |  |  |
| Net realized gain (loss) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments (unaffiliated)\*\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;87181337 | &nbsp;&nbsp;&nbsp;&nbsp;(4074643) | &nbsp;&nbsp;&nbsp;&nbsp;5090026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(575349) | &nbsp;&nbsp;&nbsp;&nbsp;(2388552) |
| &nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(309350) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(333277) |
| &nbsp;&nbsp;&nbsp;Forward contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written option contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized foreign exchange gain (loss) on other assets and liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50666) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized gain from capital gain distributions received from underlying funds (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;87181337 | &nbsp;&nbsp;&nbsp;&nbsp;(4074643) | &nbsp;&nbsp;&nbsp;&nbsp;4780676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(483529) | &nbsp;&nbsp;&nbsp;&nbsp;(2721829) |
| Change in unrealized appreciation (depreciation) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments (unaffiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;1815720 | &nbsp;&nbsp;&nbsp;&nbsp;(20130652) | &nbsp;&nbsp;&nbsp;&nbsp;(1622541) | &nbsp;&nbsp;&nbsp;&nbsp;13376707 | &nbsp;&nbsp;&nbsp;&nbsp;22628230 |
| &nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22042) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402088 |
| &nbsp;&nbsp;&nbsp;Forward contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written option contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Change in unrealized foreign exchange gain (loss) on other assets and liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Change in accrued capital gains tax on unrealized appreciation (depreciation)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(117475) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;1815720 | &nbsp;&nbsp;&nbsp;&nbsp;(20130652) | &nbsp;&nbsp;&nbsp;&nbsp;(1236898) | &nbsp;&nbsp;&nbsp;&nbsp;13271081 | &nbsp;&nbsp;&nbsp;&nbsp;23030318 |
| Net realized and unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;88997057 | &nbsp;&nbsp;&nbsp;&nbsp;(24205295) | &nbsp;&nbsp;&nbsp;&nbsp;3543778 | &nbsp;&nbsp;&nbsp;&nbsp;12787552 | &nbsp;&nbsp;&nbsp;&nbsp;20308489 |
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS<br>**  | &nbsp;&nbsp;$87497168 | &nbsp;&nbsp;$(22558870) | &nbsp;&nbsp;$4647115 | &nbsp;&nbsp;$14028340 | &nbsp;&nbsp;$47695513 |
| <br>\* Net of foreign withholding taxes on interest and dividends of<br>| &nbsp;&nbsp;$60885 | &nbsp;&nbsp;$9369 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$221172 | &nbsp;&nbsp;$— |
| \*\* Net of foreign withholding taxes on capital gains of<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$23566 | &nbsp;&nbsp;$— |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF OPERATIONS — For the Six Months Ended July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Fidelity<br> Institutional AM®<br> Global<br> Equities(1)** | &nbsp;&nbsp;**SA Fidelity<br> Institutional AM®<br> International<br> Growth** | &nbsp;&nbsp;**SA Fidelity<br> Institutional AM®<br> Real Estate** | &nbsp;&nbsp;**SA Fixed<br> Income<br> Index** | &nbsp;&nbsp;**SA Fixed<br> Income<br> Intermediate<br> Index** |
| **INVESTMENT INCOME:** |  |  |  |  |  |
| Dividends (unaffiliated)<br>| &nbsp;&nbsp;$3326824 | &nbsp;&nbsp;$2473413 | &nbsp;&nbsp;$4761174 | &nbsp;&nbsp;$622995 | &nbsp;&nbsp;$666121 |
| Dividends (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest (unaffiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9888110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7958138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3339744 | &nbsp;&nbsp;&nbsp;&nbsp;2482206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4766996 | &nbsp;&nbsp;&nbsp;&nbsp;10511105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8624259 |
| **EXPENSES:** |  |  |  |  |  |
| Investment advisory and management fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1188442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;941272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;947402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710516 |
| Service Fees: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65899 |
| Transfer agent fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1343 |
| Custodian and accounting fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28723 |
| Reports to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1881 |
| Audit and tax fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26913 |
| Legal fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3686 |
| Trustees' fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6217 |
| Interest expense<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1783 |
| Short sale dividend expense<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| License fee<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48093 |
| Other expenses(2)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses before fee waivers, expense reimbursements, expense recoupments and fees paid indirectly<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1351157 | &nbsp;&nbsp;&nbsp;&nbsp;1123985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1209307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1190234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1026860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net (fees waived and expenses reimbursed)/ recouped by investment advisor (Note 5)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1124) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8399) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(174373) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(170214) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fees paid indirectly (Note 2)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34764) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4646) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350033 | &nbsp;&nbsp;&nbsp;&nbsp;1080822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1204661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856646 |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1989711 | &nbsp;&nbsp;&nbsp;&nbsp;1401384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3562335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9495244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7767613 |
| **REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCIES:** |  |  |  |  |  |
| Net realized gain (loss) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments (unaffiliated)\*\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;56052589 | &nbsp;&nbsp;&nbsp;&nbsp;13437897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5917636 | &nbsp;&nbsp;&nbsp;&nbsp;(34736054) | &nbsp;&nbsp;&nbsp;&nbsp;(10012434) |
| &nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Forward contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written option contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized foreign exchange gain (loss) on other assets and liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized gain from capital gain distributions received from underlying funds (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;56079338 | &nbsp;&nbsp;&nbsp;&nbsp;13439108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5917636 | &nbsp;&nbsp;&nbsp;&nbsp;(34736054) | &nbsp;&nbsp;&nbsp;&nbsp;(10012434) |
| Change in unrealized appreciation (depreciation) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments (unaffiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(29811297) | &nbsp;&nbsp;&nbsp;&nbsp;13628058 | &nbsp;&nbsp;&nbsp;&nbsp;(18149845) | &nbsp;&nbsp;&nbsp;&nbsp;40598564 | &nbsp;&nbsp;&nbsp;&nbsp;16193880 |
| &nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Forward contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written option contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Change in unrealized foreign exchange gain (loss) on other assets and liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Change in accrued capital gains tax on unrealized appreciation (depreciation)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(117822) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;(29759698) | &nbsp;&nbsp;&nbsp;&nbsp;13530220 | &nbsp;&nbsp;&nbsp;&nbsp;(18149845) | &nbsp;&nbsp;&nbsp;&nbsp;40598564 | &nbsp;&nbsp;&nbsp;&nbsp;16193880 |
| Net realized and unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;26319640 | &nbsp;&nbsp;&nbsp;&nbsp;26969328 | &nbsp;&nbsp;&nbsp;&nbsp;(12232209) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5862510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6181446 |
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS<br>**  | &nbsp;&nbsp;$28309351 | &nbsp;&nbsp;$28370712 | &nbsp;&nbsp;$(8669874) | &nbsp;&nbsp;$15357754 | &nbsp;&nbsp;$13949059 |
| <br>\* Net of foreign withholding taxes on interest and dividends of<br>| &nbsp;&nbsp;$236031 | &nbsp;&nbsp;$310229 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| \*\* Net of foreign withholding taxes on capital gains of<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$148795 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |

---

(1) Prior to July 28, 2025, the Portfolio was known as SA JPMorgan Global Equities Portfolio.

(2) Other expenses include transition costs incurred in the amount of $119,621 and $110,998 for the SA Fixed Income Index Portfolio and SA Fixed Income Intermediate Index Portfolio, respectively in connection with the change in subadvisers (See Note 5).

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF OPERATIONS — For the Six Months Ended July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Franklin<br> BW U.S.<br> Large Cap<br> Value** | &nbsp;&nbsp;**SA Franklin<br> Small<br> Company<br> Value** | &nbsp;&nbsp;**SA Franklin<br> Systematic<br> U.S. Large<br> Cap Core** | &nbsp;&nbsp;**SA Franklin<br> Systematic<br> U.S. Large<br> Cap Value** | &nbsp;&nbsp;**SA Franklin<br> Tactical<br> Opportunities** |
| **INVESTMENT INCOME:** |  |  |  |  |  |
| Dividends (unaffiliated)<br>| &nbsp;&nbsp;$14512807 | &nbsp;&nbsp;$2720167 | &nbsp;&nbsp;$1811686 | &nbsp;&nbsp;$5420664 | &nbsp;&nbsp;$767921 |
| Dividends (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest (unaffiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;14512906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2817316 | &nbsp;&nbsp;&nbsp;&nbsp;1863292 | &nbsp;&nbsp;&nbsp;&nbsp;5531915 | &nbsp;&nbsp;&nbsp;&nbsp;1331077 |
| **EXPENSES:** |  |  |  |  |  |
| Investment advisory and management fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4241660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1329554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655707 | &nbsp;&nbsp;&nbsp;&nbsp;1595556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354564 |
| Service Fees: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126424 |
| Transfer agent fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442 |
| Custodian and accounting fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33814 |
| Reports to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3746 |
| Audit and tax fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30665 |
| Legal fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2964 |
| Trustees' fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1408 |
| Interest expense<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Short sale dividend expense<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| License fee<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28450 |
| Other expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses before fee waivers, expense reimbursements, expense recoupments and fees paid indirectly<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4956651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1647372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;749921 | &nbsp;&nbsp;&nbsp;&nbsp;1962373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net (fees waived and expenses reimbursed)/ recouped by investment advisor (Note 5)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(324177) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(135893) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(75826) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fees paid indirectly (Note 2)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5985) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4626489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1511479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;749921 | &nbsp;&nbsp;&nbsp;&nbsp;1962373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536702 |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9886417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1305837 | &nbsp;&nbsp;&nbsp;&nbsp;1113371 | &nbsp;&nbsp;&nbsp;&nbsp;3569542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;794375 |
| **REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCIES:** |  |  |  |  |  |
| Net realized gain (loss) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments (unaffiliated)\*\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;51269382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459085 | &nbsp;&nbsp;&nbsp;&nbsp;16142309 | &nbsp;&nbsp;&nbsp;&nbsp;12149230 | &nbsp;&nbsp;&nbsp;&nbsp;2904914 |
| &nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385588 |
| &nbsp;&nbsp;&nbsp;Forward contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written option contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized foreign exchange gain (loss) on other assets and liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1641) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012 |
| Net realized gain from capital gain distributions received from underlying funds (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;51269382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457444 | &nbsp;&nbsp;&nbsp;&nbsp;16142309 | &nbsp;&nbsp;&nbsp;&nbsp;12149230 | &nbsp;&nbsp;&nbsp;&nbsp;3291514 |
| Change in unrealized appreciation (depreciation) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments (unaffiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(48603261) | &nbsp;&nbsp;&nbsp;&nbsp;(10122567) | &nbsp;&nbsp;&nbsp;&nbsp;(1878472) | &nbsp;&nbsp;&nbsp;&nbsp;(7229862) | &nbsp;&nbsp;&nbsp;&nbsp;1676919 |
| &nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3855 |
| &nbsp;&nbsp;&nbsp;Forward contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1397 |
| &nbsp;&nbsp;&nbsp;Swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written option contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Change in unrealized foreign exchange gain (loss) on other assets and liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4381 |
| Change in accrued capital gains tax on unrealized appreciation (depreciation)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;(48603169) | &nbsp;&nbsp;&nbsp;&nbsp;(10121698) | &nbsp;&nbsp;&nbsp;&nbsp;(1878472) | &nbsp;&nbsp;&nbsp;&nbsp;(7229862) | &nbsp;&nbsp;&nbsp;&nbsp;1686552 |
| Net realized and unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2666213 | &nbsp;&nbsp;&nbsp;&nbsp;(9664254) | &nbsp;&nbsp;&nbsp;&nbsp;14263837 | &nbsp;&nbsp;&nbsp;&nbsp;4919368 | &nbsp;&nbsp;&nbsp;&nbsp;4978066 |
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS<br>**  | &nbsp;&nbsp;$12552630 | &nbsp;&nbsp;$(8358417) | &nbsp;&nbsp;$15377208 | &nbsp;&nbsp;$8488910 | &nbsp;&nbsp;$5772441 |
| <br>\* Net of foreign withholding taxes on interest and dividends of<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$7555 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$46636 |
| \*\* Net of foreign withholding taxes on capital gains of<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF OPERATIONS — For the Six Months Ended July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Global<br> Index<br> Allocation<br> 60/40** | &nbsp;&nbsp;**SA Global<br> Index<br> Allocation<br> 75/25** | &nbsp;&nbsp;**SA Global<br> Index<br> Allocation<br> 90/10** | &nbsp;&nbsp;**SA Goldman<br> Sachs Multi-<br> Asset<br> Insights** | &nbsp;&nbsp;**SA Index<br> Allocation<br> 60/40** |
| **INVESTMENT INCOME:** |  |  |  |  |  |
| Dividends (unaffiliated)<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$694696 | &nbsp;&nbsp;$— |
| Dividends (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest (unaffiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 |
| **EXPENSES:** |  |  |  |  |  |
| Investment advisory and management fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132962 |
| Service Fees: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331939 |
| Transfer agent fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373 |
| Custodian and accounting fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5951 |
| Reports to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483 |
| Audit and tax fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20483 |
| Legal fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3429 |
| Trustees' fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3645 |
| Interest expense<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Short sale dividend expense<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| License fee<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2091 |
| Other expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses before fee waivers, expense reimbursements, expense recoupments and fees paid indirectly<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net (fees waived and expenses reimbursed)/ recouped by investment advisor (Note 5)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6394) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5180) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(80700) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fees paid indirectly (Note 2)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513773 |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(216945) | &nbsp;&nbsp;&nbsp;&nbsp;(221775) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(711548) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(513767) |
| **REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCIES:** |  |  |  |  |  |
| Net realized gain (loss) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments (unaffiliated)\*\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1823170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;2294298 | &nbsp;&nbsp;&nbsp;&nbsp;2354597 | &nbsp;&nbsp;&nbsp;&nbsp;9537203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;5268495 |
| &nbsp;&nbsp;&nbsp;Futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56625) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Forward contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written option contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized foreign exchange gain (loss) on other assets and liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized gain from capital gain distributions received from underlying funds (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;2294298 | &nbsp;&nbsp;&nbsp;&nbsp;2354597 | &nbsp;&nbsp;&nbsp;&nbsp;9537203 | &nbsp;&nbsp;&nbsp;&nbsp;1801127 | &nbsp;&nbsp;&nbsp;&nbsp;5268495 |
| Change in unrealized appreciation (depreciation) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments (unaffiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3302507 | &nbsp;&nbsp;&nbsp;&nbsp;3975834 | &nbsp;&nbsp;&nbsp;&nbsp;15477599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;6151179 |
| &nbsp;&nbsp;&nbsp;Futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Forward contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written option contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Change in unrealized foreign exchange gain (loss) on other assets and liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Change in accrued capital gains tax on unrealized appreciation (depreciation)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;3302507 | &nbsp;&nbsp;&nbsp;&nbsp;3975834 | &nbsp;&nbsp;&nbsp;&nbsp;15477599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786824 | &nbsp;&nbsp;&nbsp;&nbsp;6151179 |
| Net realized and unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;5596805 | &nbsp;&nbsp;&nbsp;&nbsp;6330431 | &nbsp;&nbsp;&nbsp;&nbsp;25014802 | &nbsp;&nbsp;&nbsp;&nbsp;2587951 | &nbsp;&nbsp;&nbsp;&nbsp;11419674 |
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS<br>**  | &nbsp;&nbsp;$5379860 | &nbsp;&nbsp;$6108656 | &nbsp;&nbsp;$24303254 | &nbsp;&nbsp;$3028814 | &nbsp;&nbsp;$10905907 |
| <br>\* Net of foreign withholding taxes on interest and dividends of<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$28380 | &nbsp;&nbsp;$— |
| \*\* Net of foreign withholding taxes on capital gains of<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF OPERATIONS — For the Six Months Ended July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Index<br> Allocation<br> 80/20** | &nbsp;&nbsp;**SA Index<br> Allocation<br> 90/10** | &nbsp;&nbsp;**SA<br> International<br> Index** | &nbsp;&nbsp;**SA Invesco<br> Growth<br> Opportunities** | &nbsp;&nbsp;**SA Janus<br> Focused<br> Growth** |
| **INVESTMENT INCOME:** |  |  |  |  |  |
| Dividends (unaffiliated)<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$17419266 | &nbsp;&nbsp;$559712 | &nbsp;&nbsp;$1368721 |
| Dividends (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest (unaffiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;17583058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587157 | &nbsp;&nbsp;&nbsp;&nbsp;1528708 |
| **EXPENSES:** |  |  |  |  |  |
| Investment advisory and management fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1833083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984967 | &nbsp;&nbsp;&nbsp;&nbsp;1933207 |
| Service Fees: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5692 |
| &nbsp;&nbsp;&nbsp;Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633961 | &nbsp;&nbsp;&nbsp;&nbsp;1774661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228258 |
| Transfer agent fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1269 |
| Custodian and accounting fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23661 |
| Reports to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22083 |
| Audit and tax fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24916 |
| Legal fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5006 |
| Trustees' fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5915 |
| Interest expense<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1274 |
| Short sale dividend expense<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| License fee<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Other expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses before fee waivers, expense reimbursements, expense recoupments and fees paid indirectly<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;943769 | &nbsp;&nbsp;&nbsp;&nbsp;2567411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2207077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1251030 | &nbsp;&nbsp;&nbsp;&nbsp;2269677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net (fees waived and expenses reimbursed)/ recouped by investment advisor (Note 5)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(227436) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fees paid indirectly (Note 2)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10256) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;943769 | &nbsp;&nbsp;&nbsp;&nbsp;2567411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2207077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1240774 | &nbsp;&nbsp;&nbsp;&nbsp;2042205 |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(943758) | &nbsp;&nbsp;&nbsp;&nbsp;(2567381) | &nbsp;&nbsp;&nbsp;&nbsp;15375981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(653617) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(513497) |
| **REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCIES:** |  |  |  |  |  |
| Net realized gain (loss) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments (unaffiliated)\*\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3186886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8224365 | &nbsp;&nbsp;&nbsp;&nbsp;32378515 |
| &nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;12760309 | &nbsp;&nbsp;&nbsp;&nbsp;36112628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5590578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Forward contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written option contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized foreign exchange gain (loss) on other assets and liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized gain from capital gain distributions received from underlying funds (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;12760309 | &nbsp;&nbsp;&nbsp;&nbsp;36112628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9140266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8227666 | &nbsp;&nbsp;&nbsp;&nbsp;32378515 |
| Change in unrealized appreciation (depreciation) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments (unaffiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;81474282 | &nbsp;&nbsp;&nbsp;&nbsp;(18831386) | &nbsp;&nbsp;&nbsp;&nbsp;23611072 |
| &nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;11083090 | &nbsp;&nbsp;&nbsp;&nbsp;37604374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1806865) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Forward contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18938) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written option contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Change in unrealized foreign exchange gain (loss) on other assets and liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Change in accrued capital gains tax on unrealized appreciation (depreciation)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;11083090 | &nbsp;&nbsp;&nbsp;&nbsp;37604374 | &nbsp;&nbsp;&nbsp;&nbsp;79871752 | &nbsp;&nbsp;&nbsp;&nbsp;(18830607) | &nbsp;&nbsp;&nbsp;&nbsp;23611072 |
| Net realized and unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;23843399 | &nbsp;&nbsp;&nbsp;&nbsp;73717002 | &nbsp;&nbsp;&nbsp;&nbsp;89012018 | &nbsp;&nbsp;&nbsp;&nbsp;(10602941) | &nbsp;&nbsp;&nbsp;&nbsp;55989587 |
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS<br>**  | &nbsp;&nbsp;$22899641 | &nbsp;&nbsp;$71149621 | &nbsp;&nbsp;$104387999 | &nbsp;&nbsp;$(11256558) | &nbsp;&nbsp;$55476090 |
| <br>\* Net of foreign withholding taxes on interest and dividends of<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$1985390 | &nbsp;&nbsp;$3849 | &nbsp;&nbsp;$25780 |
| \*\* Net of foreign withholding taxes on capital gains of<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF OPERATIONS — For the Six Months Ended July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA JPMorgan<br> Diversified<br> Balanced** | &nbsp;&nbsp;**SA JPMorgan<br> Emerging<br> Markets** | &nbsp;&nbsp;**SA JPMorgan<br> Equity-<br> Income** | &nbsp;&nbsp;**SA JPMorgan<br> Large Cap Core** | &nbsp;&nbsp;**SA JPMorgan<br> MFS Core<br> Bond** |
| **INVESTMENT INCOME:** |  |  |  |  |  |
| Dividends (unaffiliated)<br>| &nbsp;&nbsp;$2993848 | &nbsp;&nbsp;$3981825 | &nbsp;&nbsp;$9951737 | &nbsp;&nbsp;$3157237 | &nbsp;&nbsp;$226114 |
| Dividends (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest (unaffiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;3372039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30026 | &nbsp;&nbsp;&nbsp;&nbsp;39289021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;6365887 | &nbsp;&nbsp;&nbsp;&nbsp;4074235 | &nbsp;&nbsp;&nbsp;&nbsp;10185414 | &nbsp;&nbsp;&nbsp;&nbsp;3187263 | &nbsp;&nbsp;&nbsp;&nbsp;39515135 |
| **EXPENSES:** |  |  |  |  |  |
| Investment advisory and management fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;1273587 | &nbsp;&nbsp;&nbsp;&nbsp;1053934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2278524 | &nbsp;&nbsp;&nbsp;&nbsp;1949818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5254076 |
| Service Fees: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4011 |
| &nbsp;&nbsp;&nbsp;Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1009721 |
| Transfer agent fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1343 |
| Custodian and accounting fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144947 |
| Reports to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30373 |
| Audit and tax fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44285 |
| Legal fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9653 |
| Trustees' fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23059 |
| Interest expense<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6160 |
| Short sale dividend expense<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| License fee<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1506 |
| Other expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses before fee waivers, expense reimbursements, expense recoupments and fees paid indirectly<br>| &nbsp;&nbsp;&nbsp;&nbsp;1898354 | &nbsp;&nbsp;&nbsp;&nbsp;1388171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2842930 | &nbsp;&nbsp;&nbsp;&nbsp;2199157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6556053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net (fees waived and expenses reimbursed)/ recouped by investment advisor (Note 5)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39801) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(118339) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(187543) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(875679) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fees paid indirectly (Note 2)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(835) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5956) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(822) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;1857718 | &nbsp;&nbsp;&nbsp;&nbsp;1269824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2836974 | &nbsp;&nbsp;&nbsp;&nbsp;2010792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5680374 |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;4508169 | &nbsp;&nbsp;&nbsp;&nbsp;2804411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7348440 | &nbsp;&nbsp;&nbsp;&nbsp;1176471 | &nbsp;&nbsp;&nbsp;&nbsp;33834761 |
| **REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCIES:** |  |  |  |  |  |
| Net realized gain (loss) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments (unaffiliated)\*\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;11664545 | &nbsp;&nbsp;&nbsp;&nbsp;9228420 | &nbsp;&nbsp;&nbsp;&nbsp;39857863 | &nbsp;&nbsp;&nbsp;&nbsp;25645314 | &nbsp;&nbsp;&nbsp;&nbsp;(7762126) |
| &nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;(5131833) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(2654915) |
| &nbsp;&nbsp;&nbsp;Forward contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written option contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized foreign exchange gain (loss) on other assets and liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26317) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized gain from capital gain distributions received from underlying funds (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;6647828 | &nbsp;&nbsp;&nbsp;&nbsp;9818987 | &nbsp;&nbsp;&nbsp;&nbsp;39857863 | &nbsp;&nbsp;&nbsp;&nbsp;25645314 | &nbsp;&nbsp;&nbsp;&nbsp;(10417041) |
| Change in unrealized appreciation (depreciation) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments (unaffiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;6011189 | &nbsp;&nbsp;&nbsp;&nbsp;15817033 | &nbsp;&nbsp;&nbsp;&nbsp;(35045339) | &nbsp;&nbsp;&nbsp;&nbsp;10447201 | &nbsp;&nbsp;&nbsp;&nbsp;28798333 |
| &nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(216338) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2623860 |
| &nbsp;&nbsp;&nbsp;Forward contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(116264) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written option contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Change in unrealized foreign exchange gain (loss) on other assets and liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5469) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Change in accrued capital gains tax on unrealized appreciation (depreciation)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;6841366 | &nbsp;&nbsp;&nbsp;&nbsp;15643942 | &nbsp;&nbsp;&nbsp;&nbsp;(35045339) | &nbsp;&nbsp;&nbsp;&nbsp;10448359 | &nbsp;&nbsp;&nbsp;&nbsp;31422193 |
| Net realized and unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;13489194 | &nbsp;&nbsp;&nbsp;&nbsp;25462929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4812524 | &nbsp;&nbsp;&nbsp;&nbsp;36093673 | &nbsp;&nbsp;&nbsp;&nbsp;21005152 |
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS<br>**  | &nbsp;&nbsp;$17997363 | &nbsp;&nbsp;$28267340 | &nbsp;&nbsp;$12160964 | &nbsp;&nbsp;$37270144 | &nbsp;&nbsp;$54839913 |
| <br>\* Net of foreign withholding taxes on interest and dividends of<br>| &nbsp;&nbsp;$187521 | &nbsp;&nbsp;$441560 | &nbsp;&nbsp;$12214 | &nbsp;&nbsp;$18437 | &nbsp;&nbsp;$2755 |
| \*\* Net of foreign withholding taxes on capital gains of<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$45483 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF OPERATIONS — For the Six Months Ended July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA JPMorgan<br> Mid-Cap<br> Growth** | &nbsp;&nbsp;**SA JPMorgan<br> Ultra-Short<br> Bond** | &nbsp;&nbsp;**SA Large<br> Cap Growth<br> Index** | &nbsp;&nbsp;**SA Large<br> Cap Index** | &nbsp;&nbsp;**SA Large<br> Cap Value<br> Index** |
| **INVESTMENT INCOME:** |  |  |  |  |  |
| Dividends (unaffiliated)<br>| &nbsp;&nbsp;$1856765 | &nbsp;&nbsp;$594758 | &nbsp;&nbsp;$2202600 | &nbsp;&nbsp;$21152705 | &nbsp;&nbsp;$6293429 |
| Dividends (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest (unaffiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154 | &nbsp;&nbsp;&nbsp;&nbsp;7447062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1856919 | &nbsp;&nbsp;&nbsp;&nbsp;8041820 | &nbsp;&nbsp;&nbsp;&nbsp;2210788 | &nbsp;&nbsp;&nbsp;&nbsp;21312995 | &nbsp;&nbsp;&nbsp;&nbsp;6300228 |
| **EXPENSES:** |  |  |  |  |  |
| Investment advisory and management fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2495965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5829051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920788 |
| Service Fees: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88593 |
| Transfer agent fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822 |
| Custodian and accounting fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25584 |
| Reports to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2530 |
| Audit and tax fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28011 |
| Legal fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4222 |
| Trustees' fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8023 |
| Interest expense<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3115 |
| Short sale dividend expense<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| License fee<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78729 |
| Other expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses before fee waivers, expense reimbursements, expense recoupments and fees paid indirectly<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3149391 | &nbsp;&nbsp;&nbsp;&nbsp;1160574 | &nbsp;&nbsp;&nbsp;&nbsp;1258486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6440108 | &nbsp;&nbsp;&nbsp;&nbsp;1183475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net (fees waived and expenses reimbursed)/ recouped by investment advisor (Note 5)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(99757) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15585) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2222530) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17516) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fees paid indirectly (Note 2)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12425) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3037209 | &nbsp;&nbsp;&nbsp;&nbsp;1160574 | &nbsp;&nbsp;&nbsp;&nbsp;1242901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4217578 | &nbsp;&nbsp;&nbsp;&nbsp;1165959 |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(1180290) | &nbsp;&nbsp;&nbsp;&nbsp;6881246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967887 | &nbsp;&nbsp;&nbsp;&nbsp;17095417 | &nbsp;&nbsp;&nbsp;&nbsp;5134269 |
| **REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCIES:** |  |  |  |  |  |
| Net realized gain (loss) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments (unaffiliated)\*\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;44605855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438798 | &nbsp;&nbsp;&nbsp;&nbsp;30330990 | &nbsp;&nbsp;&nbsp;&nbsp;161232478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241669 |
| &nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2464197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109319 |
| &nbsp;&nbsp;&nbsp;Forward contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written option contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized foreign exchange gain (loss) on other assets and liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized gain from capital gain distributions received from underlying funds (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;44605855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438798 | &nbsp;&nbsp;&nbsp;&nbsp;30702506 | &nbsp;&nbsp;&nbsp;&nbsp;163696675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350988 |
| Change in unrealized appreciation (depreciation) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments (unaffiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(22151537) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(91616) | &nbsp;&nbsp;&nbsp;&nbsp;39452402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7472138 | &nbsp;&nbsp;&nbsp;&nbsp;3838134 |
| &nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1427145) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4525 |
| &nbsp;&nbsp;&nbsp;Forward contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written option contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Change in unrealized foreign exchange gain (loss) on other assets and liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Change in accrued capital gains tax on unrealized appreciation (depreciation)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;(22151537) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(91616) | &nbsp;&nbsp;&nbsp;&nbsp;39463600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6044993 | &nbsp;&nbsp;&nbsp;&nbsp;3842659 |
| Net realized and unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;22454318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347182 | &nbsp;&nbsp;&nbsp;&nbsp;70166106 | &nbsp;&nbsp;&nbsp;&nbsp;169741668 | &nbsp;&nbsp;&nbsp;&nbsp;4193647 |
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS<br>**  | &nbsp;&nbsp;$21274028 | &nbsp;&nbsp;$7228428 | &nbsp;&nbsp;$71133993 | &nbsp;&nbsp;$186837085 | &nbsp;&nbsp;$9327916 |
| <br>\* Net of foreign withholding taxes on interest and dividends of<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$775 | &nbsp;&nbsp;$4929 | &nbsp;&nbsp;$1176 |
| \*\* Net of foreign withholding taxes on capital gains of<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF OPERATIONS — For the Six Months Ended July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA MFS<br> Large Cap<br> Growth(3)** | &nbsp;&nbsp;**SA MFS<br> Massachusetts<br> Investors<br> Trust** | &nbsp;&nbsp;**SA MFS<br> Total<br> Return** | &nbsp;&nbsp;**SA Mid<br> Cap Index** | &nbsp;&nbsp;**SA Morgan<br> Stanley<br> International<br> Equities** |
| **INVESTMENT INCOME:** |  |  |  |  |  |
| Dividends (unaffiliated)<br>| &nbsp;&nbsp;$2557377 | &nbsp;&nbsp;$3996464 | &nbsp;&nbsp;$3468168 | &nbsp;&nbsp;$3762705 | &nbsp;&nbsp;$5197968 |
| Dividends (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest (unaffiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120293 | &nbsp;&nbsp;&nbsp;&nbsp;4088270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2597942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4116757 | &nbsp;&nbsp;&nbsp;&nbsp;7556438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3829675 | &nbsp;&nbsp;&nbsp;&nbsp;5232493 |
| **EXPENSES:** |  |  |  |  |  |
| Investment advisory and management fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2331967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2194734 | &nbsp;&nbsp;&nbsp;&nbsp;1549942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714300 | &nbsp;&nbsp;&nbsp;&nbsp;1395431 |
| Service Fees: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 |
| &nbsp;&nbsp;&nbsp;Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140795 |
| Transfer agent fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1418 |
| Custodian and accounting fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46021 |
| Reports to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19999 |
| Audit and tax fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31182 |
| Legal fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4033 |
| Trustees' fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4332 |
| Interest expense<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154 |
| Short sale dividend expense<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| License fee<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1128 |
| Other expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses before fee waivers, expense reimbursements, expense recoupments and fees paid indirectly<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2742659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2703812 | &nbsp;&nbsp;&nbsp;&nbsp;2131446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;971162 | &nbsp;&nbsp;&nbsp;&nbsp;1671645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net (fees waived and expenses reimbursed)/ recouped by investment advisor (Note 5)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(125962) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83340) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fees paid indirectly (Note 2)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2742659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2577850 | &nbsp;&nbsp;&nbsp;&nbsp;2131446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;971162 | &nbsp;&nbsp;&nbsp;&nbsp;1588305 |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(144717) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1538907 | &nbsp;&nbsp;&nbsp;&nbsp;5424992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2858513 | &nbsp;&nbsp;&nbsp;&nbsp;3644188 |
| **REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCIES:** |  |  |  |  |  |
| Net realized gain (loss) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments (unaffiliated)\*\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;93198319 | &nbsp;&nbsp;&nbsp;&nbsp;79554796 | &nbsp;&nbsp;&nbsp;&nbsp;16851992 | &nbsp;&nbsp;&nbsp;&nbsp;10240846 | &nbsp;&nbsp;&nbsp;&nbsp;16075908 |
| &nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72792) | &nbsp;&nbsp;&nbsp;&nbsp;(2676388) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Forward contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written option contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized foreign exchange gain (loss) on other assets and liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97723 |
| Net realized gain from capital gain distributions received from underlying funds (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;93198319 | &nbsp;&nbsp;&nbsp;&nbsp;79577365 | &nbsp;&nbsp;&nbsp;&nbsp;16779591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7679071 | &nbsp;&nbsp;&nbsp;&nbsp;16173631 |
| Change in unrealized appreciation (depreciation) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments (unaffiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(16561083) | &nbsp;&nbsp;&nbsp;&nbsp;(55110626) | &nbsp;&nbsp;&nbsp;&nbsp;(8789897) | &nbsp;&nbsp;&nbsp;&nbsp;(21541179) | &nbsp;&nbsp;&nbsp;&nbsp;11651577 |
| &nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(160378) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Forward contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(169865) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written option contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Change in unrealized foreign exchange gain (loss) on other assets and liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126615 |
| Change in accrued capital gains tax on unrealized appreciation (depreciation)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;(16561083) | &nbsp;&nbsp;&nbsp;&nbsp;(55108177) | &nbsp;&nbsp;&nbsp;&nbsp;(8659954) | &nbsp;&nbsp;&nbsp;&nbsp;(21871422) | &nbsp;&nbsp;&nbsp;&nbsp;11778192 |
| Net realized and unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;76637236 | &nbsp;&nbsp;&nbsp;&nbsp;24469188 | &nbsp;&nbsp;&nbsp;&nbsp;8119637 | &nbsp;&nbsp;&nbsp;&nbsp;(14192351) | &nbsp;&nbsp;&nbsp;&nbsp;27951823 |
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS<br>**  | &nbsp;&nbsp;$76492519 | &nbsp;&nbsp;$26008095 | &nbsp;&nbsp;$13544629 | &nbsp;&nbsp;$(11333838) | &nbsp;&nbsp;$31596011 |
| <br>\* Net of foreign withholding taxes on interest and dividends of<br>| &nbsp;&nbsp;$6219 | &nbsp;&nbsp;$15136 | &nbsp;&nbsp;$45053 | &nbsp;&nbsp;$2631 | &nbsp;&nbsp;$561620 |
| \*\* Net of foreign withholding taxes on capital gains of<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |

---

 <br> (3) Prior to April 28, 2025, the Portfolio was known as SA MFS Blue Chip Growth Portfolio.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF OPERATIONS — For the Six Months Ended July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA PIMCO<br> Global Bond<br> Opportunities** | &nbsp;&nbsp;**SA PIMCO<br> RAE<br> International<br> Value** | &nbsp;&nbsp;**SA<br> PineBridge<br> High-Yield<br> Bond** | &nbsp;&nbsp;**SA Putnam<br> International<br> Value(4)** | &nbsp;&nbsp;**SA Schroders<br> VCP Global<br> Allocation** |
| **INVESTMENT INCOME:** |  |  |  |  |  |
| Dividends (unaffiliated)<br>| &nbsp;&nbsp;$103942 | &nbsp;&nbsp;$12986521 | &nbsp;&nbsp;$151671 | &nbsp;&nbsp;$7361314 | &nbsp;&nbsp;$2769715 |
| Dividends (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest (unaffiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6655518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18287 | &nbsp;&nbsp;&nbsp;&nbsp;9085111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4495255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6759460 | &nbsp;&nbsp;&nbsp;&nbsp;13004808 | &nbsp;&nbsp;&nbsp;&nbsp;9236782 | &nbsp;&nbsp;&nbsp;&nbsp;7559337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7264970 |
| **EXPENSES:** |  |  |  |  |  |
| Investment advisory and management fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878670 | &nbsp;&nbsp;&nbsp;&nbsp;1787962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812582 | &nbsp;&nbsp;&nbsp;&nbsp;1453271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1746669 |
| Service Fees: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518198 |
| Transfer agent fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299 |
| Custodian and accounting fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78253 |
| Reports to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10289 |
| Audit and tax fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29323 |
| Legal fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4089 |
| Trustees' fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5828 |
| Interest expense<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61 |
| Short sale dividend expense<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| License fee<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11843 |
| Other expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses before fee waivers, expense reimbursements, expense recoupments and fees paid indirectly<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1576426 | &nbsp;&nbsp;&nbsp;&nbsp;2375653 | &nbsp;&nbsp;&nbsp;&nbsp;1084234 | &nbsp;&nbsp;&nbsp;&nbsp;1720608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2437984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net (fees waived and expenses reimbursed)/ recouped by investment advisor (Note 5)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27443) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(172862) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(153976) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(52632) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fees paid indirectly (Note 2)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1548983 | &nbsp;&nbsp;&nbsp;&nbsp;2202791 | &nbsp;&nbsp;&nbsp;&nbsp;1084234 | &nbsp;&nbsp;&nbsp;&nbsp;1566632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2385352 |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5210477 | &nbsp;&nbsp;&nbsp;&nbsp;10802017 | &nbsp;&nbsp;&nbsp;&nbsp;8152548 | &nbsp;&nbsp;&nbsp;&nbsp;5992705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4879618 |
| **REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCIES:** |  |  |  |  |  |
| Net realized gain (loss) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments (unaffiliated)\*\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(979340) | &nbsp;&nbsp;&nbsp;&nbsp;16651626 | &nbsp;&nbsp;&nbsp;&nbsp;(2688171) | &nbsp;&nbsp;&nbsp;&nbsp;16268203 | &nbsp;&nbsp;&nbsp;&nbsp;15686867 |
| &nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2030098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(13883514) |
| &nbsp;&nbsp;&nbsp;Forward contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;(10127321) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(824057) |
| &nbsp;&nbsp;&nbsp;Swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1180489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written option contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized foreign exchange gain (loss) on other assets and liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1186338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82991 |
| Net realized gain from capital gain distributions received from underlying funds (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;(6451033) | &nbsp;&nbsp;&nbsp;&nbsp;16697150 | &nbsp;&nbsp;&nbsp;&nbsp;(2688171) | &nbsp;&nbsp;&nbsp;&nbsp;16822493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1062287 |
| Change in unrealized appreciation (depreciation) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments (unaffiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9175312 | &nbsp;&nbsp;&nbsp;&nbsp;29160105 | &nbsp;&nbsp;&nbsp;&nbsp;2839445 | &nbsp;&nbsp;&nbsp;&nbsp;25665663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5540354 |
| &nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(926681) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1820786 |
| &nbsp;&nbsp;&nbsp;Forward contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177427 |
| &nbsp;&nbsp;&nbsp;Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1362000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written option contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Change in unrealized foreign exchange gain (loss) on other assets and liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(67921) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35674 |
| Change in accrued capital gains tax on unrealized appreciation (depreciation)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;10837138 | &nbsp;&nbsp;&nbsp;&nbsp;29449514 | &nbsp;&nbsp;&nbsp;&nbsp;2839445 | &nbsp;&nbsp;&nbsp;&nbsp;26404223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7574241 |
| Net realized and unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4386105 | &nbsp;&nbsp;&nbsp;&nbsp;46146664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151274 | &nbsp;&nbsp;&nbsp;&nbsp;43226716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8636528 |
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS<br>**  | &nbsp;&nbsp;$9596582 | &nbsp;&nbsp;$56948681 | &nbsp;&nbsp;$8303822 | &nbsp;&nbsp;$49219421 | &nbsp;&nbsp;$13516146 |
| <br>\* Net of foreign withholding taxes on interest and dividends of<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$1295518 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$489500 | &nbsp;&nbsp;$197006 |
| \*\* Net of foreign withholding taxes on capital gains of<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |

---

 <br> (4) Prior to April 28, 2025, the Portfolio was known as SA Putnam International Growth and Income Portfolio.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF OPERATIONS — For the Six Months Ended July 31, 2025 (unaudited) — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Small<br> Cap Index** | &nbsp;&nbsp;**SA T. Rowe<br> Price Allocation<br> Moderately<br> Aggressive(5)** | &nbsp;&nbsp;**SA T. Rowe Price<br> VCP Balanced** | &nbsp;&nbsp;**SA VCP<br> Dynamic<br> Allocation** | &nbsp;&nbsp;**SA VCP<br> Dynamic<br> Strategy** |
| **INVESTMENT INCOME:** |  |  |  |  |  |
| Dividends (unaffiliated)<br>| &nbsp;&nbsp;$2107031 | &nbsp;&nbsp;$5927401 | &nbsp;&nbsp;$12149123 | &nbsp;&nbsp;$5995615 | &nbsp;&nbsp;$3044492 |
| Dividends (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest (unaffiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22802 | &nbsp;&nbsp;&nbsp;&nbsp;2688965 | &nbsp;&nbsp;&nbsp;&nbsp;9258969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22022766 | &nbsp;&nbsp;&nbsp;&nbsp;14246857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2129833 | &nbsp;&nbsp;&nbsp;&nbsp;8616366 | &nbsp;&nbsp;&nbsp;&nbsp;21408092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28018381 | &nbsp;&nbsp;&nbsp;&nbsp;17291349 |
| **EXPENSES:** |  |  |  |  |  |
| Investment advisory and management fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493184 | &nbsp;&nbsp;&nbsp;&nbsp;2587111 | &nbsp;&nbsp;&nbsp;&nbsp;5222030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8885682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5371224 |
| Service Fees: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;932812 | &nbsp;&nbsp;&nbsp;&nbsp;1707309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10455348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6062452 |
| Transfer agent fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523 |
| Custodian and accounting fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42000 |
| Reports to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57372 |
| Audit and tax fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22926 |
| Legal fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11002 |
| Trustees' fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68478 |
| Interest expense<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1426117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;903402 |
| Short sale dividend expense<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| License fee<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2855 |
| Other expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses before fee waivers, expense reimbursements, expense recoupments and fees paid indirectly<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728042 | &nbsp;&nbsp;&nbsp;&nbsp;3707929 | &nbsp;&nbsp;&nbsp;&nbsp;7367402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21099469 | &nbsp;&nbsp;&nbsp;&nbsp;12583453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net (fees waived and expenses reimbursed)/ recouped by investment advisor (Note 5)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(58176) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(315277) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(145225) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fees paid indirectly (Note 2)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669866 | &nbsp;&nbsp;&nbsp;&nbsp;3707929 | &nbsp;&nbsp;&nbsp;&nbsp;7367402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20784192 | &nbsp;&nbsp;&nbsp;&nbsp;12438228 |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1459967 | &nbsp;&nbsp;&nbsp;&nbsp;4908437 | &nbsp;&nbsp;&nbsp;&nbsp;14040690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7234189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4853121 |
| **REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCIES:** |  |  |  |  |  |
| Net realized gain (loss) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments (unaffiliated)\*\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6533080 | &nbsp;&nbsp;&nbsp;&nbsp;23297504 | &nbsp;&nbsp;&nbsp;&nbsp;40349001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26263518 | &nbsp;&nbsp;&nbsp;&nbsp;25629917 |
| &nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46032364 | &nbsp;&nbsp;&nbsp;&nbsp;(12569599) |
| &nbsp;&nbsp;&nbsp;Futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;(1165671) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21530 | &nbsp;&nbsp;&nbsp;&nbsp;4572113 | &nbsp;&nbsp;&nbsp;&nbsp;(161910131) | &nbsp;&nbsp;&nbsp;&nbsp;(97405545) |
| &nbsp;&nbsp;&nbsp;Forward contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(150) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written option contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized foreign exchange gain (loss) on other assets and liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized gain from capital gain distributions received from underlying funds (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30462600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8009451 |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5773382 | &nbsp;&nbsp;&nbsp;&nbsp;23343284 | &nbsp;&nbsp;&nbsp;&nbsp;44952458 | &nbsp;&nbsp;&nbsp;&nbsp;(59151649) | &nbsp;&nbsp;&nbsp;&nbsp;(76335776) |
| Change in unrealized appreciation (depreciation) on: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments (unaffiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(16893344) | &nbsp;&nbsp;&nbsp;&nbsp;6208260 | &nbsp;&nbsp;&nbsp;&nbsp;1979218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17806273 | &nbsp;&nbsp;&nbsp;&nbsp;14652559 |
| &nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;312020014 | &nbsp;&nbsp;&nbsp;&nbsp;178024308 |
| &nbsp;&nbsp;&nbsp;Futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39460) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52190 | &nbsp;&nbsp;&nbsp;&nbsp;8193254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48437531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1293616 |
| &nbsp;&nbsp;&nbsp;Forward contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2032) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11008) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written option contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Change in unrealized foreign exchange gain (loss) on other assets and liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7179 |
| Change in accrued capital gains tax on unrealized appreciation (depreciation)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35241) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;(16813935) | &nbsp;&nbsp;&nbsp;&nbsp;6296213 | &nbsp;&nbsp;&nbsp;&nbsp;10235875 | &nbsp;&nbsp;&nbsp;&nbsp;378302969 | &nbsp;&nbsp;&nbsp;&nbsp;193977662 |
| Net realized and unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;(11040553) | &nbsp;&nbsp;&nbsp;&nbsp;29639497 | &nbsp;&nbsp;&nbsp;&nbsp;55188333 | &nbsp;&nbsp;&nbsp;&nbsp;319151320 | &nbsp;&nbsp;&nbsp;&nbsp;117641886 |
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS<br>**  | &nbsp;&nbsp;$(9580586) | &nbsp;&nbsp;$34547934 | &nbsp;&nbsp;$69229023 | &nbsp;&nbsp;$326385509 | &nbsp;&nbsp;$122495007 |
| <br>\* Net of foreign withholding taxes on interest and dividends of<br>| &nbsp;&nbsp;$3625 | &nbsp;&nbsp;$348211 | &nbsp;&nbsp;$677829 | &nbsp;&nbsp;$30 | &nbsp;&nbsp;$— |
| \*\* Net of foreign withholding taxes on capital gains of<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$13002 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |

---

 <br> (5) Prior to April 28, 2025, the Portfolio was known as SA T. Rowe Price Asset Allocation Growth Portfolio.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF OPERATIONS — For the Six Months Ended July 31, 2025 (unaudited) — (continued)

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;**SA VCP<br> Index<br> Allocation** |
| **INVESTMENT INCOME:** |  |
| Dividends (unaffiliated)<br>| &nbsp;&nbsp;$1834697 |
| Dividends (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Interest (unaffiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2123187 |
| **EXPENSES:** |  |
| Investment advisory and management fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530431 |
| Service Fees: |  |
| &nbsp;&nbsp;&nbsp;Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668575 |
| Transfer agent fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373 |
| Custodian and accounting fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12233 |
| Reports to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4676 |
| Audit and tax fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20416 |
| Legal fees<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4024 |
| Trustees' fees and expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7367 |
| Interest expense<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86789 |
| Short sale dividend expense<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| License fee<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25678 |
| Other expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses before fee waivers, expense reimbursements, expense recoupments and fees paid indirectly<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1378075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net (fees waived and expenses reimbursed)/ recouped by investment advisor (Note 5)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fees paid indirectly (Note 2)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net expenses<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1378075 |
| Net investment income (loss)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745112 |
| **REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCIES:** |  |
| Net realized gain (loss) on: |  |
| &nbsp;&nbsp;&nbsp;Investments (unaffiliated)\*\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;(1337404) |
| &nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8386190 |
| &nbsp;&nbsp;&nbsp;Futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;(14952667) |
| &nbsp;&nbsp;&nbsp;Forward contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written option contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized foreign exchange gain (loss) on other assets and liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized gain from capital gain distributions received from underlying funds (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;(7903881) |
| Change in unrealized appreciation (depreciation) on: |  |
| &nbsp;&nbsp;&nbsp;Investments (unaffiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(609430) |
| &nbsp;&nbsp;&nbsp;Investments (affiliated)<br>| &nbsp;&nbsp;&nbsp;&nbsp;11431065 |
| &nbsp;&nbsp;&nbsp;Futures contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6152877 |
| &nbsp;&nbsp;&nbsp;Forward contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Forward sales contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Swap contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Written option contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Change in unrealized foreign exchange gain (loss) on other assets and liabilities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Change in accrued capital gains tax on unrealized appreciation (depreciation)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;16974512 |
| Net realized and unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9070631 |
| **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS<br>**  | &nbsp;&nbsp;$9815743 |
| <br>\* Net of foreign withholding taxes on interest and dividends of<br>| &nbsp;&nbsp;$— |
| \*\* Net of foreign withholding taxes on capital gains of<br>| &nbsp;&nbsp;$— |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF CHANGES IN NET ASSETS

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA AB<br> Growth** | &nbsp;&nbsp;**SA AB<br> Growth** | &nbsp;&nbsp;**SA AB Small &<br> Mid Cap Value** | &nbsp;&nbsp;**SA AB Small &<br> Mid Cap Value** | &nbsp;&nbsp;**SA BlackRock<br> Multi-Factor 70/30** | &nbsp;&nbsp;**SA BlackRock<br> Multi-Factor 70/30** |
|  | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** |
| **INCREASE (DECREASE) IN NET ASSETS** |  |  |  |  |  |  |
| **OPERATIONS:** |  |  |  |  |  |  |
| Net investment income (loss)<br>| &nbsp;&nbsp;$(1499889) | &nbsp;&nbsp;$(3635718) | &nbsp;&nbsp;$1646425 | &nbsp;&nbsp;$2544178 | &nbsp;&nbsp;$1103337 | &nbsp;&nbsp;$1973785 |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87181337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263887616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4074643) | &nbsp;&nbsp;&nbsp;&nbsp;52364015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4780676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6765172 |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1815720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146547850 | &nbsp;&nbsp;&nbsp;&nbsp;(20130652) | &nbsp;&nbsp;&nbsp;&nbsp;23353927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1236898) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4857822 |
| Net increase (decrease) in net assets resulting from operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87497168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406799748 | &nbsp;&nbsp;&nbsp;&nbsp;(22558870) | &nbsp;&nbsp;&nbsp;&nbsp;78262120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4647115 | &nbsp;&nbsp;&nbsp;&nbsp;13596779 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |  |  |
| Distributable earnings — Class 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(104172167) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6997334) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Distributable earnings — Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8405337) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(586174) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Distributable earnings — Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(71906488) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(26956443) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total distributions to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(184483992) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(34539951) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **CAPITAL SHARE TRANSACTIONS (Note 7)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64017296) | &nbsp;&nbsp;&nbsp;&nbsp;(142768924) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7340814) | &nbsp;&nbsp;&nbsp;&nbsp;(32464556) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1646361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1770712) |
| **TOTAL INCREASE (DECREASE) IN NET ASSETS<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23479872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79546832 | &nbsp;&nbsp;&nbsp;&nbsp;(29899684) | &nbsp;&nbsp;&nbsp;&nbsp;11257613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6293476 | &nbsp;&nbsp;&nbsp;&nbsp;11826067 |
| **NET ASSETS:** |  |  |  |  |  |  |
| Beginning of period<br>| &nbsp;&nbsp;&nbsp;&nbsp;1834195916 | &nbsp;&nbsp;&nbsp;&nbsp;1754649084 | &nbsp;&nbsp;&nbsp;&nbsp;506386503 | &nbsp;&nbsp;&nbsp;&nbsp;495128890 | &nbsp;&nbsp;&nbsp;&nbsp;108964126 | &nbsp;&nbsp;&nbsp;&nbsp;97138059 |
| End of period<br>| &nbsp;&nbsp;$1857675788 | &nbsp;&nbsp;$1834195916 | &nbsp;&nbsp;$476486819 | &nbsp;&nbsp;$506386503 | &nbsp;&nbsp;$115257602 | &nbsp;&nbsp;$108964126 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Emerging<br> Markets Equity<br> Index** | &nbsp;&nbsp;**SA Emerging<br> Markets Equity<br> Index** | &nbsp;&nbsp;**SA Federated Hermes<br> Corporate Bond** | &nbsp;&nbsp;**SA Federated Hermes<br> Corporate Bond** | &nbsp;&nbsp;**SA Fidelity<br> Institutional AM® Global<br> Equities (1)** | &nbsp;&nbsp;**SA Fidelity<br> Institutional AM® Global<br> Equities (1)** |
|  | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** |
| **INCREASE (DECREASE) IN NET ASSETS** |  |  |  |  |  |  |
| **OPERATIONS:** |  |  |  |  |  |  |
| Net investment income (loss)<br>| &nbsp;&nbsp;$1240788 | &nbsp;&nbsp;$1883992 | &nbsp;&nbsp;$27387024 | &nbsp;&nbsp;$51240431 | &nbsp;&nbsp;$1989711 | &nbsp;&nbsp;$2783772 |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(483529) | &nbsp;&nbsp;&nbsp;&nbsp;(2112570) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2721829) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1575608) | &nbsp;&nbsp;&nbsp;&nbsp;56079338 | &nbsp;&nbsp;&nbsp;&nbsp;58773069 |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;13271081 | &nbsp;&nbsp;&nbsp;&nbsp;11917958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23030318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9475232) | &nbsp;&nbsp;&nbsp;&nbsp;(29759698) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3896781 |
| Net increase (decrease) in net assets resulting from operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;14028340 | &nbsp;&nbsp;&nbsp;&nbsp;11689380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47695513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40189591 | &nbsp;&nbsp;&nbsp;&nbsp;28309351 | &nbsp;&nbsp;&nbsp;&nbsp;65453622 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |  |  |
| Distributable earnings — Class 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(1542734) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14055400) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(20759657) |
| Distributable earnings — Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(316946) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(221769) |
| Distributable earnings — Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(365631) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32517464) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4660373) |
| Total distributions to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(1908365) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46889810) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(25641799) |
| **CAPITAL SHARE TRANSACTIONS (Note 7)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2329342) | &nbsp;&nbsp;&nbsp;&nbsp;(3666637) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6001529) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113378706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2635666) | &nbsp;&nbsp;&nbsp;&nbsp;(41018152) |
| **TOTAL INCREASE (DECREASE) IN NET ASSETS<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;11698998 | &nbsp;&nbsp;&nbsp;&nbsp;6114378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41693984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106678487 | &nbsp;&nbsp;&nbsp;&nbsp;25673685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1206329) |
| **NET ASSETS:** |  |  |  |  |  |  |
| Beginning of period<br>| &nbsp;&nbsp;&nbsp;&nbsp;91982576 | &nbsp;&nbsp;&nbsp;&nbsp;85868198 | &nbsp;&nbsp;&nbsp;&nbsp;1490910281 | &nbsp;&nbsp;&nbsp;&nbsp;1384231794 | &nbsp;&nbsp;&nbsp;&nbsp;313867424 | &nbsp;&nbsp;&nbsp;&nbsp;315073753 |
| End of period<br>| &nbsp;&nbsp;$103681574 | &nbsp;&nbsp;$91982576 | &nbsp;&nbsp;$1532604265 | &nbsp;&nbsp;$1490910281 | &nbsp;&nbsp;$339541109 | &nbsp;&nbsp;$313867424 |

---

 <br> (1) Prior to July 28, 2025, the Portfolio was known as SA JPMorgan Global Equities Portfolio.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF CHANGES IN NET ASSETS — (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Fidelity Institutional<br> AM® International<br> Growth** | &nbsp;&nbsp;**SA Fidelity Institutional<br> AM® International<br> Growth** | &nbsp;&nbsp;**SA Fidelity<br> Institutional AM®<br> Real Estate** | &nbsp;&nbsp;**SA Fidelity<br> Institutional AM®<br> Real Estate** | &nbsp;&nbsp;**SA Fixed<br> Income Index** | &nbsp;&nbsp;**SA Fixed<br> Income Index** |
|  | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** |
| **INCREASE (DECREASE) IN NET ASSETS** |  |  |  |  |  |  |
| **OPERATIONS:** |  |  |  |  |  |  |
| Net investment income (loss)<br>| &nbsp;&nbsp;$1401384 | &nbsp;&nbsp;$798202 | &nbsp;&nbsp;$3562335 | &nbsp;&nbsp;$5082064 | &nbsp;&nbsp;$9495244 | &nbsp;&nbsp;$16553229 |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;13439108 | &nbsp;&nbsp;&nbsp;&nbsp;30381882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5917636 | &nbsp;&nbsp;&nbsp;&nbsp;18484843 | &nbsp;&nbsp;&nbsp;&nbsp;(34736054) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1101162) |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;13530220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2005749) | &nbsp;&nbsp;&nbsp;&nbsp;(18149845) | &nbsp;&nbsp;&nbsp;&nbsp;11387099 | &nbsp;&nbsp;&nbsp;&nbsp;40598564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6629929) |
| Net increase (decrease) in net assets resulting from operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;28370712 | &nbsp;&nbsp;&nbsp;&nbsp;29174335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8669874) | &nbsp;&nbsp;&nbsp;&nbsp;34954006 | &nbsp;&nbsp;&nbsp;&nbsp;15357754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8822138 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |  |  |
| Distributable earnings — Class 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3820763) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2614882) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(12963811) |
| Distributable earnings — Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(62270) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Distributable earnings — Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(243978) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2748766) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2300249) |
| Total distributions to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4064741) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5425918) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(15264060) |
| **CAPITAL SHARE TRANSACTIONS (Note 7)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2397498 | &nbsp;&nbsp;&nbsp;&nbsp;(44686458) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1199067) | &nbsp;&nbsp;&nbsp;&nbsp;(30658125) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1622924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1731518) |
| **TOTAL INCREASE (DECREASE) IN NET ASSETS<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;30768210 | &nbsp;&nbsp;&nbsp;&nbsp;(19576864) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9868941) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1130037) | &nbsp;&nbsp;&nbsp;&nbsp;16980678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8173440) |
| **NET ASSETS:** |  |  |  |  |  |  |
| Beginning of period<br>| &nbsp;&nbsp;&nbsp;&nbsp;234068454 | &nbsp;&nbsp;&nbsp;&nbsp;253645318 | &nbsp;&nbsp;&nbsp;&nbsp;256446942 | &nbsp;&nbsp;&nbsp;&nbsp;257576979 | &nbsp;&nbsp;&nbsp;&nbsp;535345221 | &nbsp;&nbsp;&nbsp;&nbsp;543518661 |
| End of period<br>| &nbsp;&nbsp;$264836664 | &nbsp;&nbsp;$234068454 | &nbsp;&nbsp;$246578001 | &nbsp;&nbsp;$256446942 | &nbsp;&nbsp;$552325899 | &nbsp;&nbsp;$535345221 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Fixed Income<br> Intermediate<br> Index** | &nbsp;&nbsp;**SA Fixed Income<br> Intermediate<br> Index** | &nbsp;&nbsp;**SA Franklin BW<br> U.S. Large Cap Value** | &nbsp;&nbsp;**SA Franklin BW<br> U.S. Large Cap Value** | &nbsp;&nbsp;**SA Franklin<br> Small Company<br> Value** | &nbsp;&nbsp;**SA Franklin<br> Small Company<br> Value** |
|  | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** |
| **INCREASE (DECREASE) IN NET ASSETS** |  |  |  |  |  |  |
| **OPERATIONS:** |  |  |  |  |  |  |
| Net investment income (loss)<br>| &nbsp;&nbsp;$7767613 | &nbsp;&nbsp;$13540531 | &nbsp;&nbsp;$9886417 | &nbsp;&nbsp;$22597918 | &nbsp;&nbsp;$1305837 | &nbsp;&nbsp;$2487279 |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;(10012434) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1709859) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51269382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180778945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457444 | &nbsp;&nbsp;&nbsp;&nbsp;23240626 |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;16193880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3351569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48603169) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51351343 | &nbsp;&nbsp;&nbsp;&nbsp;(10121698) | &nbsp;&nbsp;&nbsp;&nbsp;21971736 |
| Net increase (decrease) in net assets resulting from operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;13949059 | &nbsp;&nbsp;&nbsp;&nbsp;15182241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12552630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254728206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8358417) | &nbsp;&nbsp;&nbsp;&nbsp;47699641 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |  |  |
| Distributable earnings — Class 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(11585896) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23384101) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3726864) |
| Distributable earnings — Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1180324) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Distributable earnings — Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1303807) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12551776) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6300399) |
| Total distributions to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(12889703) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37116201) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(10027263) |
| **CAPITAL SHARE TRANSACTIONS (Note 7)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8060357 | &nbsp;&nbsp;&nbsp;&nbsp;(29564493) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35529658) | &nbsp;&nbsp;&nbsp;&nbsp;(199507212) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2859298) | &nbsp;&nbsp;&nbsp;&nbsp;(27483383) |
| **TOTAL INCREASE (DECREASE) IN NET ASSETS<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;22009416 | &nbsp;&nbsp;&nbsp;&nbsp;(27271955) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22977028) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18104793 | &nbsp;&nbsp;&nbsp;&nbsp;(11217715) | &nbsp;&nbsp;&nbsp;&nbsp;10188995 |
| **NET ASSETS:** |  |  |  |  |  |  |
| Beginning of period<br>| &nbsp;&nbsp;&nbsp;&nbsp;471840077 | &nbsp;&nbsp;&nbsp;&nbsp;499112032 | &nbsp;&nbsp;&nbsp;&nbsp;1235052170 | &nbsp;&nbsp;&nbsp;&nbsp;1216947377 | &nbsp;&nbsp;&nbsp;&nbsp;294385403 | &nbsp;&nbsp;&nbsp;&nbsp;284196408 |
| End of period<br>| &nbsp;&nbsp;$493849493 | &nbsp;&nbsp;$471840077 | &nbsp;&nbsp;$1212075142 | &nbsp;&nbsp;$1235052170 | &nbsp;&nbsp;$283167688 | &nbsp;&nbsp;$294385403 |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF CHANGES IN NET ASSETS — (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Franklin Systematic<br> U.S. Large Cap Core** | &nbsp;&nbsp;**SA Franklin Systematic<br> U.S. Large Cap Core** | &nbsp;&nbsp;**SA Franklin Systematic<br> U.S. Large Cap Value** | &nbsp;&nbsp;**SA Franklin Systematic<br> U.S. Large Cap Value** | &nbsp;&nbsp;**SA Franklin<br> Tactical Opportunities** | &nbsp;&nbsp;**SA Franklin<br> Tactical Opportunities** |
|  | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** |
| **INCREASE (DECREASE) IN NET ASSETS** |  |  |  |  |  |  |
| **OPERATIONS:** |  |  |  |  |  |  |
| Net investment income (loss)<br>| &nbsp;&nbsp;$1113371 | &nbsp;&nbsp;$1352596 | &nbsp;&nbsp;$3569542 | &nbsp;&nbsp;$6212531 | &nbsp;&nbsp;$794375 | &nbsp;&nbsp;$1260442 |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;16142309 | &nbsp;&nbsp;&nbsp;&nbsp;21913735 | &nbsp;&nbsp;&nbsp;&nbsp;12149230 | &nbsp;&nbsp;&nbsp;&nbsp;41465797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3291514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5625887 |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1878472) | &nbsp;&nbsp;&nbsp;&nbsp;23878142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7229862) | &nbsp;&nbsp;&nbsp;&nbsp;36272901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1686552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6210103 |
| Net increase (decrease) in net assets resulting from operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;15377208 | &nbsp;&nbsp;&nbsp;&nbsp;47144473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8488910 | &nbsp;&nbsp;&nbsp;&nbsp;83951229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5772441 | &nbsp;&nbsp;&nbsp;&nbsp;13096432 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |  |  |
| Distributable earnings — Class 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6037864) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3244898) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(819) |
| Distributable earnings — Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55666) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Distributable earnings — Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(571110) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2313949) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(441404) |
| Total distributions to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6608974) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5614513) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(442223) |
| **CAPITAL SHARE TRANSACTIONS (Note 7)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;65328597 | &nbsp;&nbsp;&nbsp;&nbsp;47027615 | &nbsp;&nbsp;&nbsp;&nbsp;54547327 | &nbsp;&nbsp;&nbsp;&nbsp;66808848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4124488) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3133093) |
| **TOTAL INCREASE (DECREASE) IN NET ASSETS<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;80705805 | &nbsp;&nbsp;&nbsp;&nbsp;87563114 | &nbsp;&nbsp;&nbsp;&nbsp;63036237 | &nbsp;&nbsp;&nbsp;&nbsp;145145564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1647953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9521116 |
| **NET ASSETS:** |  |  |  |  |  |  |
| Beginning of period<br>| &nbsp;&nbsp;&nbsp;&nbsp;230694492 | &nbsp;&nbsp;&nbsp;&nbsp;143131378 | &nbsp;&nbsp;&nbsp;&nbsp;502838771 | &nbsp;&nbsp;&nbsp;&nbsp;357693207 | &nbsp;&nbsp;&nbsp;&nbsp;103464849 | &nbsp;&nbsp;&nbsp;&nbsp;93943733 |
| End of period<br>| &nbsp;&nbsp;$311400297 | &nbsp;&nbsp;$230694492 | &nbsp;&nbsp;$565875008 | &nbsp;&nbsp;$502838771 | &nbsp;&nbsp;$105112802 | &nbsp;&nbsp;$103464849 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Global Index<br> Allocation 60/40** | &nbsp;&nbsp;**SA Global Index<br> Allocation 60/40** | &nbsp;&nbsp;**SA Global Index<br> Allocation 75/25** | &nbsp;&nbsp;**SA Global Index<br> Allocation 75/25** | &nbsp;&nbsp;**SA Global Index<br> Allocation 90/10** | &nbsp;&nbsp;**SA Global Index<br> Allocation 90/10** |
|  | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** |
| **INCREASE (DECREASE) IN NET ASSETS** |  |  |  |  |  |  |
| **OPERATIONS:** |  |  |  |  |  |  |
| Net investment income (loss)<br>| &nbsp;&nbsp;$(216945) | &nbsp;&nbsp;$1743479 | &nbsp;&nbsp;$(221775) | &nbsp;&nbsp;$1594885 | &nbsp;&nbsp;$(711548) | &nbsp;&nbsp;$5563478 |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2294298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3633148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2354597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4710973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9537203 | &nbsp;&nbsp;&nbsp;&nbsp;19129522 |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3302507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5199422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3975834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6655373 | &nbsp;&nbsp;&nbsp;&nbsp;15477599 | &nbsp;&nbsp;&nbsp;&nbsp;29285272 |
| Net increase (decrease) in net assets resulting from operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5379860 | &nbsp;&nbsp;&nbsp;&nbsp;10576049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6108656 | &nbsp;&nbsp;&nbsp;&nbsp;12961231 | &nbsp;&nbsp;&nbsp;&nbsp;24303254 | &nbsp;&nbsp;&nbsp;&nbsp;53978272 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |  |  |
| Distributable earnings — Class 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3468) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14788) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(173743) |
| Distributable earnings — Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Distributable earnings — Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4614197) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3456663) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(13952373) |
| Total distributions to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4617665) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3471451) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(14126116) |
| **CAPITAL SHARE TRANSACTIONS (Note 7)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2447857) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2869978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3928511) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(536709) | &nbsp;&nbsp;&nbsp;&nbsp;(14576439) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2813026) |
| **TOTAL INCREASE (DECREASE) IN NET ASSETS<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2932003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8828362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2180145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8953071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9726815 | &nbsp;&nbsp;&nbsp;&nbsp;37039130 |
| **NET ASSETS:** |  |  |  |  |  |  |
| Beginning of period<br>| &nbsp;&nbsp;&nbsp;&nbsp;103117181 | &nbsp;&nbsp;&nbsp;&nbsp;94288819 | &nbsp;&nbsp;&nbsp;&nbsp;105412400 | &nbsp;&nbsp;&nbsp;&nbsp;96459329 | &nbsp;&nbsp;&nbsp;&nbsp;387203987 | &nbsp;&nbsp;&nbsp;&nbsp;350164857 |
| End of period<br>| &nbsp;&nbsp;$106049184 | &nbsp;&nbsp;$103117181 | &nbsp;&nbsp;$107592545 | &nbsp;&nbsp;$105412400 | &nbsp;&nbsp;$396930802 | &nbsp;&nbsp;$387203987 |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF CHANGES IN NET ASSETS — (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Goldman Sachs<br> Multi-Asset<br> Insights** | &nbsp;&nbsp;**SA Goldman Sachs<br> Multi-Asset<br> Insights** | &nbsp;&nbsp;**SA Index<br> Allocation 60/40** | &nbsp;&nbsp;**SA Index<br> Allocation 60/40** | &nbsp;&nbsp;**SA Index<br> Allocation 80/20** | &nbsp;&nbsp;**SA Index<br> Allocation 80/20** |
|  | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** |
| **INCREASE (DECREASE) IN NET ASSETS** |  |  |  |  |  |  |
| **OPERATIONS:** |  |  |  |  |  |  |
| Net investment income (loss)<br>| &nbsp;&nbsp;$440863 | &nbsp;&nbsp;$751492 | &nbsp;&nbsp;$(513767) | &nbsp;&nbsp;$4089307 | &nbsp;&nbsp;$(943758) | &nbsp;&nbsp;$6693613 |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;1801127 | &nbsp;&nbsp;&nbsp;&nbsp;6083000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5268495 | &nbsp;&nbsp;&nbsp;&nbsp;14123522 | &nbsp;&nbsp;&nbsp;&nbsp;12760309 | &nbsp;&nbsp;&nbsp;&nbsp;33988839 |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6151179 | &nbsp;&nbsp;&nbsp;&nbsp;17009955 | &nbsp;&nbsp;&nbsp;&nbsp;11083090 | &nbsp;&nbsp;&nbsp;&nbsp;43551487 |
| Net increase (decrease) in net assets resulting from operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;3028814 | &nbsp;&nbsp;&nbsp;&nbsp;7008995 | &nbsp;&nbsp;&nbsp;&nbsp;10905907 | &nbsp;&nbsp;&nbsp;&nbsp;35222784 | &nbsp;&nbsp;&nbsp;&nbsp;22899641 | &nbsp;&nbsp;&nbsp;&nbsp;84233939 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |  |  |
| Distributable earnings — Class 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15863) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17450) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(138522) |
| Distributable earnings — Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Distributable earnings — Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(4419282) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(11454494) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(22746198) |
| Total distributions to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(4435145) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(11471944) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(22884720) |
| **CAPITAL SHARE TRANSACTIONS (Note 7)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;(2992539) | &nbsp;&nbsp;&nbsp;&nbsp;3095866 | &nbsp;&nbsp;&nbsp;&nbsp;(13183614) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5558614) | &nbsp;&nbsp;&nbsp;&nbsp;(26512301) | &nbsp;&nbsp;&nbsp;&nbsp;(22712888) |
| **TOTAL INCREASE (DECREASE) IN NET ASSETS<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36275 | &nbsp;&nbsp;&nbsp;&nbsp;5669716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2277707) | &nbsp;&nbsp;&nbsp;&nbsp;18192226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3612660) | &nbsp;&nbsp;&nbsp;&nbsp;38636331 |
| **NET ASSETS:** |  |  |  |  |  |  |
| Beginning of period<br>| &nbsp;&nbsp;&nbsp;&nbsp;50307174 | &nbsp;&nbsp;&nbsp;&nbsp;44637458 | &nbsp;&nbsp;&nbsp;&nbsp;275570278 | &nbsp;&nbsp;&nbsp;&nbsp;257378052 | &nbsp;&nbsp;&nbsp;&nbsp;532404222 | &nbsp;&nbsp;&nbsp;&nbsp;493767891 |
| End of period<br>| &nbsp;&nbsp;$50343449 | &nbsp;&nbsp;$50307174 | &nbsp;&nbsp;$273292571 | &nbsp;&nbsp;$275570278 | &nbsp;&nbsp;$528791562 | &nbsp;&nbsp;$532404222 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Index<br> Allocation 90/10** | &nbsp;&nbsp;**SA Index<br> Allocation 90/10** | &nbsp;&nbsp;**SA International<br> Index** | &nbsp;&nbsp;**SA International<br> Index** | &nbsp;&nbsp;**SA Invesco Growth<br> Opportunities** | &nbsp;&nbsp;**SA Invesco Growth<br> Opportunities** |
|  | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** |
| **INCREASE (DECREASE) IN NET ASSETS** |  |  |  |  |  |  |
| **OPERATIONS:** |  |  |  |  |  |  |
| Net investment income (loss)<br>| &nbsp;&nbsp;$(2567381) | &nbsp;&nbsp;$17466535 | &nbsp;&nbsp;$15375981 | &nbsp;&nbsp;$18549471 | &nbsp;&nbsp;$(653617) | &nbsp;&nbsp;$(1524866) |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36112628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84146281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9140266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1916504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8227666 | &nbsp;&nbsp;&nbsp;&nbsp;29514830 |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37604374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147355395 | &nbsp;&nbsp;&nbsp;&nbsp;79871752 | &nbsp;&nbsp;&nbsp;&nbsp;42019223 | &nbsp;&nbsp;&nbsp;&nbsp;(18830607) | &nbsp;&nbsp;&nbsp;&nbsp;28778385 |
| Net increase (decrease) in net assets resulting from operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71149621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248968211 | &nbsp;&nbsp;&nbsp;&nbsp;104387999 | &nbsp;&nbsp;&nbsp;&nbsp;62485198 | &nbsp;&nbsp;&nbsp;&nbsp;(11256558) | &nbsp;&nbsp;&nbsp;&nbsp;56768349 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |  |  |
| Distributable earnings — Class 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(403863) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(20307451) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Distributable earnings — Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Distributable earnings — Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(62794653) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(740693) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Total distributions to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63198516) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(21048144) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **CAPITAL SHARE TRANSACTIONS (Note 7)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72653746) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33224628) | &nbsp;&nbsp;&nbsp;&nbsp;33977113 | &nbsp;&nbsp;&nbsp;&nbsp;46491216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(316124) | &nbsp;&nbsp;&nbsp;&nbsp;(45745289) |
| **TOTAL INCREASE (DECREASE) IN NET ASSETS<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1504125) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152545067 | &nbsp;&nbsp;&nbsp;&nbsp;138365112 | &nbsp;&nbsp;&nbsp;&nbsp;87928270 | &nbsp;&nbsp;&nbsp;&nbsp;(11572682) | &nbsp;&nbsp;&nbsp;&nbsp;11023060 |
| **NET ASSETS:** |  |  |  |  |  |  |
| Beginning of period<br>| &nbsp;&nbsp;&nbsp;&nbsp;1490849759 | &nbsp;&nbsp;&nbsp;&nbsp;1338304692 | &nbsp;&nbsp;&nbsp;&nbsp;828232173 | &nbsp;&nbsp;&nbsp;&nbsp;740303903 | &nbsp;&nbsp;&nbsp;&nbsp;293408037 | &nbsp;&nbsp;&nbsp;&nbsp;282384977 |
| End of period<br>| &nbsp;&nbsp;$1489345634 | &nbsp;&nbsp;$1490849759 | &nbsp;&nbsp;$966597285 | &nbsp;&nbsp;$828232173 | &nbsp;&nbsp;$281835355 | &nbsp;&nbsp;$293408037 |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF CHANGES IN NET ASSETS — (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Janus Focused<br> Growth** | &nbsp;&nbsp;**SA Janus Focused<br> Growth** | &nbsp;&nbsp;**SA JPMorgan<br> Diversified Balanced** | &nbsp;&nbsp;**SA JPMorgan<br> Diversified Balanced** | &nbsp;&nbsp;**SA JPMorgan<br> Emerging Markets** | &nbsp;&nbsp;**SA JPMorgan<br> Emerging Markets** |
|  | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** |
| **INCREASE (DECREASE) IN NET ASSETS** |  |  |  |  |  |  |
| **OPERATIONS:** |  |  |  |  |  |  |
| Net investment income (loss)<br>| &nbsp;&nbsp;$(513497) | &nbsp;&nbsp;$(841439) | &nbsp;&nbsp;$4508169 | &nbsp;&nbsp;$8664624 | &nbsp;&nbsp;$2804411 | &nbsp;&nbsp;$4169801 |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;32378515 | &nbsp;&nbsp;&nbsp;&nbsp;99607165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6647828 | &nbsp;&nbsp;&nbsp;&nbsp;36156360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9818987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5121859 |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;23611072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9586208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6841366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4918787 | &nbsp;&nbsp;&nbsp;&nbsp;15643942 | &nbsp;&nbsp;&nbsp;&nbsp;22251382 |
| Net increase (decrease) in net assets resulting from operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;55476090 | &nbsp;&nbsp;&nbsp;&nbsp;108351934 | &nbsp;&nbsp;&nbsp;&nbsp;17997363 | &nbsp;&nbsp;&nbsp;&nbsp;49739771 | &nbsp;&nbsp;&nbsp;&nbsp;28267340 | &nbsp;&nbsp;&nbsp;&nbsp;31543042 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |  |  |
| Distributable earnings — Class 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(11284035) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2182640) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1978277) |
| Distributable earnings — Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(415419) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(288366) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59564) |
| Distributable earnings — Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8966337) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4594828) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3179358) |
| Total distributions to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(20665791) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7065834) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5217199) |
| **CAPITAL SHARE TRANSACTIONS (Note 7)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;21314548 | &nbsp;&nbsp;&nbsp;&nbsp;(79395256) | &nbsp;&nbsp;&nbsp;&nbsp;(27713592) | &nbsp;&nbsp;&nbsp;&nbsp;(43816138) | &nbsp;&nbsp;&nbsp;&nbsp;(16040093) | &nbsp;&nbsp;&nbsp;&nbsp;(23963400) |
| **TOTAL INCREASE (DECREASE) IN NET ASSETS<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;76790638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8290887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9716229) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1142201) | &nbsp;&nbsp;&nbsp;&nbsp;12227247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2362443 |
| **NET ASSETS:** |  |  |  |  |  |  |
| Beginning of period<br>| &nbsp;&nbsp;&nbsp;&nbsp;446160264 | &nbsp;&nbsp;&nbsp;&nbsp;437869377 | &nbsp;&nbsp;&nbsp;&nbsp;438505789 | &nbsp;&nbsp;&nbsp;&nbsp;439647990 | &nbsp;&nbsp;&nbsp;&nbsp;185293533 | &nbsp;&nbsp;&nbsp;&nbsp;182931090 |
| End of period<br>| &nbsp;&nbsp;$522950902 | &nbsp;&nbsp;$446160264 | &nbsp;&nbsp;$428789560 | &nbsp;&nbsp;$438505789 | &nbsp;&nbsp;$197520780 | &nbsp;&nbsp;$185293533 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA JPMorgan<br> Equity-Income** | &nbsp;&nbsp;**SA JPMorgan<br> Equity-Income** | &nbsp;&nbsp;**SA JPMorgan<br> Large Cap Core** | &nbsp;&nbsp;**SA JPMorgan<br> Large Cap Core** | &nbsp;&nbsp;**SA JPMorgan MFS<br> Core Bond** | &nbsp;&nbsp;**SA JPMorgan MFS<br> Core Bond** |
|  | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** |
| **INCREASE (DECREASE) IN NET ASSETS** |  |  |  |  |  |  |
| **OPERATIONS:** |  |  |  |  |  |  |
| Net investment income (loss)<br>| &nbsp;&nbsp;$7348440 | &nbsp;&nbsp;$17967489 | &nbsp;&nbsp;$1176471 | &nbsp;&nbsp;$1976038 | &nbsp;&nbsp;$33834761 | &nbsp;&nbsp;$65657791 |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;39857863 | &nbsp;&nbsp;&nbsp;&nbsp;135450329 | &nbsp;&nbsp;&nbsp;&nbsp;25645314 | &nbsp;&nbsp;&nbsp;&nbsp;57794647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10417041) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17086346) |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;(35045339) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9196638 | &nbsp;&nbsp;&nbsp;&nbsp;10448359 | &nbsp;&nbsp;&nbsp;&nbsp;46577065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31422193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408219 |
| Net increase (decrease) in net assets resulting from operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;12160964 | &nbsp;&nbsp;&nbsp;&nbsp;162614456 | &nbsp;&nbsp;&nbsp;&nbsp;37270144 | &nbsp;&nbsp;&nbsp;&nbsp;106347750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54839913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48979664 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |  |  |
| Distributable earnings — Class 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(48967630) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(44255363) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34261273) |
| Distributable earnings — Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(921292) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(381519) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(190347) |
| Distributable earnings — Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(32163730) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(13337919) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29023551) |
| Total distributions to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(82052652) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(57974801) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63475171) |
| **CAPITAL SHARE TRANSACTIONS (Note 7)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;(74527951) | &nbsp;&nbsp;&nbsp;&nbsp;(159221159) | &nbsp;&nbsp;&nbsp;&nbsp;10158277 | &nbsp;&nbsp;&nbsp;&nbsp;68651972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27476575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49686144 |
| **TOTAL INCREASE (DECREASE) IN NET ASSETS<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;(62366987) | &nbsp;&nbsp;&nbsp;&nbsp;(78659355) | &nbsp;&nbsp;&nbsp;&nbsp;47428421 | &nbsp;&nbsp;&nbsp;&nbsp;117024921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82316488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35190637 |
| **NET ASSETS:** |  |  |  |  |  |  |
| Beginning of period<br>| &nbsp;&nbsp;&nbsp;&nbsp;891602049 | &nbsp;&nbsp;&nbsp;&nbsp;970261404 | &nbsp;&nbsp;&nbsp;&nbsp;538811941 | &nbsp;&nbsp;&nbsp;&nbsp;421787020 | &nbsp;&nbsp;&nbsp;&nbsp;1748136258 | &nbsp;&nbsp;&nbsp;&nbsp;1712945621 |
| End of period<br>| &nbsp;&nbsp;$829235062 | &nbsp;&nbsp;$891602049 | &nbsp;&nbsp;$586240362 | &nbsp;&nbsp;$538811941 | &nbsp;&nbsp;$1830452746 | &nbsp;&nbsp;$1748136258 |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF CHANGES IN NET ASSETS — (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA JPMorgan<br> Mid-Cap Growth** | &nbsp;&nbsp;**SA JPMorgan<br> Mid-Cap Growth** | &nbsp;&nbsp;**SA JPMorgan<br> Ultra-Short Bond** | &nbsp;&nbsp;**SA JPMorgan<br> Ultra-Short Bond** | &nbsp;&nbsp;**SA Large Cap<br> Growth Index** | &nbsp;&nbsp;**SA Large Cap<br> Growth Index** |
|  | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** |
| **INCREASE (DECREASE) IN NET ASSETS** |  |  |  |  |  |  |
| **OPERATIONS:** |  |  |  |  |  |  |
| Net investment income (loss)<br>| &nbsp;&nbsp;$(1180290) | &nbsp;&nbsp;$(3163110) | &nbsp;&nbsp;$6881246 | &nbsp;&nbsp;$16006433 | &nbsp;&nbsp;$967887 | &nbsp;&nbsp;$1803301 |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;44605855 | &nbsp;&nbsp;&nbsp;&nbsp;76694494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519623 | &nbsp;&nbsp;&nbsp;&nbsp;30702506 | &nbsp;&nbsp;&nbsp;&nbsp;99684897 |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;(22151537) | &nbsp;&nbsp;&nbsp;&nbsp;58657963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(91616) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828812 | &nbsp;&nbsp;&nbsp;&nbsp;39463600 | &nbsp;&nbsp;&nbsp;&nbsp;72209313 |
| Net increase (decrease) in net assets resulting from operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;21274028 | &nbsp;&nbsp;&nbsp;&nbsp;132189347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7228428 | &nbsp;&nbsp;&nbsp;&nbsp;17354868 | &nbsp;&nbsp;&nbsp;&nbsp;71133993 | &nbsp;&nbsp;&nbsp;&nbsp;173697511 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |  |  |
| Distributable earnings — Class 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4267637) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(21727871) |
| Distributable earnings — Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(363374) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Distributable earnings — Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8100782) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2519675) |
| Total distributions to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(12731793) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(24247546) |
| **CAPITAL SHARE TRANSACTIONS (Note 7)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;(17894102) | &nbsp;&nbsp;&nbsp;&nbsp;(63723821) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1781844 | &nbsp;&nbsp;&nbsp;&nbsp;(25271332) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9369661) | &nbsp;&nbsp;&nbsp;&nbsp;40989473 |
| **TOTAL INCREASE (DECREASE) IN NET ASSETS<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3379926 | &nbsp;&nbsp;&nbsp;&nbsp;68465526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9010272 | &nbsp;&nbsp;&nbsp;&nbsp;(20648257) | &nbsp;&nbsp;&nbsp;&nbsp;61764332 | &nbsp;&nbsp;&nbsp;&nbsp;190439438 |
| **NET ASSETS:** |  |  |  |  |  |  |
| Beginning of period<br>| &nbsp;&nbsp;&nbsp;&nbsp;711367993 | &nbsp;&nbsp;&nbsp;&nbsp;642902467 | &nbsp;&nbsp;&nbsp;&nbsp;336899374 | &nbsp;&nbsp;&nbsp;&nbsp;357547631 | &nbsp;&nbsp;&nbsp;&nbsp;678072572 | &nbsp;&nbsp;&nbsp;&nbsp;487633134 |
| End of period<br>| &nbsp;&nbsp;$714747919 | &nbsp;&nbsp;$711367993 | &nbsp;&nbsp;$345909646 | &nbsp;&nbsp;$336899374 | &nbsp;&nbsp;$739836904 | &nbsp;&nbsp;$678072572 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Large Cap<br> Index** | &nbsp;&nbsp;**SA Large Cap<br> Index** | &nbsp;&nbsp;**SA Large Cap<br> Value Index** | &nbsp;&nbsp;**SA Large Cap<br> Value Index** | &nbsp;&nbsp;**SA MFS Large Cap<br> Growth (2)** | &nbsp;&nbsp;**SA MFS Large Cap<br> Growth (2)** |
|  | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** |
| **INCREASE (DECREASE) IN NET ASSETS** |  |  |  |  |  |  |
| **OPERATIONS:** |  |  |  |  |  |  |
| Net investment income (loss)<br>| &nbsp;&nbsp;$17095417 | &nbsp;&nbsp;$36205702 | &nbsp;&nbsp;$5134269 | &nbsp;&nbsp;$9798294 | &nbsp;&nbsp;$(144717) | &nbsp;&nbsp;$(277966) |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163696675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389712364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350988 | &nbsp;&nbsp;&nbsp;&nbsp;53854433 | &nbsp;&nbsp;&nbsp;&nbsp;93198319 | &nbsp;&nbsp;&nbsp;&nbsp;154166103 |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6044993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335055390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3842659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6576912 | &nbsp;&nbsp;&nbsp;&nbsp;(16561083) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48069500 |
| Net increase (decrease) in net assets resulting from operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186837085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760973456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9327916 | &nbsp;&nbsp;&nbsp;&nbsp;70229639 | &nbsp;&nbsp;&nbsp;&nbsp;76492519 | &nbsp;&nbsp;&nbsp;&nbsp;201957637 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |  |  |
| Distributable earnings — Class 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(190997312) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(50509965) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(47563452) |
| Distributable earnings — Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(393680) |
| Distributable earnings — Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7150660) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6155987) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(26112003) |
| Total distributions to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(198147972) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(56665952) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(74069135) |
| **CAPITAL SHARE TRANSACTIONS (Note 7)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;(133544182) | &nbsp;&nbsp;&nbsp;&nbsp;(324415979) | &nbsp;&nbsp;&nbsp;&nbsp;20715210 | &nbsp;&nbsp;&nbsp;&nbsp;151930910 | &nbsp;&nbsp;&nbsp;&nbsp;134716784 | &nbsp;&nbsp;&nbsp;&nbsp;(130151611) |
| **TOTAL INCREASE (DECREASE) IN NET ASSETS<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53292903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238409505 | &nbsp;&nbsp;&nbsp;&nbsp;30043126 | &nbsp;&nbsp;&nbsp;&nbsp;165494597 | &nbsp;&nbsp;&nbsp;&nbsp;211209303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2263109) |
| **NET ASSETS:** |  |  |  |  |  |  |
| Beginning of period<br>| &nbsp;&nbsp;&nbsp;&nbsp;3345988853 | &nbsp;&nbsp;&nbsp;&nbsp;3107579348 | &nbsp;&nbsp;&nbsp;&nbsp;622725293 | &nbsp;&nbsp;&nbsp;&nbsp;457230696 | &nbsp;&nbsp;&nbsp;&nbsp;646739906 | &nbsp;&nbsp;&nbsp;&nbsp;649003015 |
| End of period<br>| &nbsp;&nbsp;$3399281756 | &nbsp;&nbsp;$3345988853 | &nbsp;&nbsp;$652768419 | &nbsp;&nbsp;$622725293 | &nbsp;&nbsp;$857949209 | &nbsp;&nbsp;$646739906 |

---

 <br> (2) Prior to April 28, 2025, the Portfolio was known as SA MFS Blue Chip Growth Portfolio.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF CHANGES IN NET ASSETS — (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA MFS Massachusetts<br> Investors Trust** | &nbsp;&nbsp;**SA MFS Massachusetts<br> Investors Trust** | &nbsp;&nbsp;**SA MFS Total<br> Return** | &nbsp;&nbsp;**SA MFS Total<br> Return** | &nbsp;&nbsp;**SA Mid Cap<br> Index** | &nbsp;&nbsp;**SA Mid Cap<br> Index** |
|  | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** |
| **INCREASE (DECREASE) IN NET ASSETS** |  |  |  |  |  |  |
| **OPERATIONS:** |  |  |  |  |  |  |
| Net investment income (loss)<br>| &nbsp;&nbsp;$1538907 | &nbsp;&nbsp;$4902354 | &nbsp;&nbsp;$5424992 | &nbsp;&nbsp;$11239738 | &nbsp;&nbsp;$2858513 | &nbsp;&nbsp;$5184997 |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79577365 | &nbsp;&nbsp;&nbsp;&nbsp;213238394 | &nbsp;&nbsp;&nbsp;&nbsp;16779591 | &nbsp;&nbsp;&nbsp;&nbsp;40374375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7679071 | &nbsp;&nbsp;&nbsp;&nbsp;32469615 |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;(55108177) | &nbsp;&nbsp;&nbsp;&nbsp;(53278138) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8659954) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1451024) | &nbsp;&nbsp;&nbsp;&nbsp;(21871422) | &nbsp;&nbsp;&nbsp;&nbsp;49689316 |
| Net increase (decrease) in net assets resulting from operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26008095 | &nbsp;&nbsp;&nbsp;&nbsp;164862610 | &nbsp;&nbsp;&nbsp;&nbsp;13544629 | &nbsp;&nbsp;&nbsp;&nbsp;50163089 | &nbsp;&nbsp;&nbsp;&nbsp;(11333838) | &nbsp;&nbsp;&nbsp;&nbsp;87343928 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |  |  |
| Distributable earnings — Class 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(65617717) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7612068) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8170584) |
| Distributable earnings — Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1047880) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1033237) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Distributable earnings — Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(47416709) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(21112646) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1569735) |
| Total distributions to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(114082306) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(29757951) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9740319) |
| **CAPITAL SHARE TRANSACTIONS (Note 7)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;(107373261) | &nbsp;&nbsp;&nbsp;&nbsp;(215938174) | &nbsp;&nbsp;&nbsp;&nbsp;(23362777) | &nbsp;&nbsp;&nbsp;&nbsp;(21027544) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1132491) | &nbsp;&nbsp;&nbsp;&nbsp;(14217354) |
| **TOTAL INCREASE (DECREASE) IN NET ASSETS<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;(81365166) | &nbsp;&nbsp;&nbsp;&nbsp;(165157870) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9818148) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(622406) | &nbsp;&nbsp;&nbsp;&nbsp;(12466329) | &nbsp;&nbsp;&nbsp;&nbsp;63386255 |
| **NET ASSETS:** |  |  |  |  |  |  |
| Beginning of period<br>| &nbsp;&nbsp;&nbsp;&nbsp;724998366 | &nbsp;&nbsp;&nbsp;&nbsp;890156236 | &nbsp;&nbsp;&nbsp;&nbsp;490821662 | &nbsp;&nbsp;&nbsp;&nbsp;491444068 | &nbsp;&nbsp;&nbsp;&nbsp;509874633 | &nbsp;&nbsp;&nbsp;&nbsp;446488378 |
| End of period<br>| &nbsp;&nbsp;$643633200 | &nbsp;&nbsp;$724998366 | &nbsp;&nbsp;$481003514 | &nbsp;&nbsp;$490821662 | &nbsp;&nbsp;$497408304 | &nbsp;&nbsp;$509874633 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Morgan Stanley<br> International Equities** | &nbsp;&nbsp;**SA Morgan Stanley<br> International Equities** | &nbsp;&nbsp;**SA PIMCO<br> Global Bond<br> Opportunities** | &nbsp;&nbsp;**SA PIMCO<br> Global Bond<br> Opportunities** | &nbsp;&nbsp;**SA PIMCO RAE<br> International Value** | &nbsp;&nbsp;**SA PIMCO RAE<br> International Value** |
|  | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** |
| **INCREASE (DECREASE) IN NET ASSETS** |  |  |  |  |  |  |
| **OPERATIONS:** |  |  |  |  |  |  |
| Net investment income (loss)<br>| &nbsp;&nbsp;$3644188 | &nbsp;&nbsp;$5498884 | &nbsp;&nbsp;$5210477 | &nbsp;&nbsp;$8609269 | &nbsp;&nbsp;$10802017 | &nbsp;&nbsp;$13432626 |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;16173631 | &nbsp;&nbsp;&nbsp;&nbsp;33557755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6451033) | &nbsp;&nbsp;&nbsp;&nbsp;(21234225) | &nbsp;&nbsp;&nbsp;&nbsp;16697150 | &nbsp;&nbsp;&nbsp;&nbsp;31110014 |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;11778192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7271845) | &nbsp;&nbsp;&nbsp;&nbsp;10837138 | &nbsp;&nbsp;&nbsp;&nbsp;16148848 | &nbsp;&nbsp;&nbsp;&nbsp;29449514 | &nbsp;&nbsp;&nbsp;&nbsp;(11917304) |
| Net increase (decrease) in net assets resulting from operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;31596011 | &nbsp;&nbsp;&nbsp;&nbsp;31784794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9596582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3523892 | &nbsp;&nbsp;&nbsp;&nbsp;56948681 | &nbsp;&nbsp;&nbsp;&nbsp;32625336 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |  |  |
| Distributable earnings — Class 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3828819) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1178445) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3967230) |
| Distributable earnings — Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(90635) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55019) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(273812) |
| Distributable earnings — Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1742559) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5229363) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(11201225) |
| Total distributions to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5662013) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6462827) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(15442267) |
| **CAPITAL SHARE TRANSACTIONS (Note 7)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;(10437770) | &nbsp;&nbsp;&nbsp;&nbsp;(49994614) | &nbsp;&nbsp;&nbsp;&nbsp;(12927070) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7675657) | &nbsp;&nbsp;&nbsp;&nbsp;(51542586) | &nbsp;&nbsp;&nbsp;&nbsp;(62359231) |
| **TOTAL INCREASE (DECREASE) IN NET ASSETS<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;21158241 | &nbsp;&nbsp;&nbsp;&nbsp;(23871833) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3330488) | &nbsp;&nbsp;&nbsp;&nbsp;(10614592) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5406095 | &nbsp;&nbsp;&nbsp;&nbsp;(45176162) |
| **NET ASSETS:** |  |  |  |  |  |  |
| Beginning of period<br>| &nbsp;&nbsp;&nbsp;&nbsp;322883201 | &nbsp;&nbsp;&nbsp;&nbsp;346755034 | &nbsp;&nbsp;&nbsp;&nbsp;283517925 | &nbsp;&nbsp;&nbsp;&nbsp;294132517 | &nbsp;&nbsp;&nbsp;&nbsp;423061197 | &nbsp;&nbsp;&nbsp;&nbsp;468237359 |
| End of period<br>| &nbsp;&nbsp;$344041442 | &nbsp;&nbsp;$322883201 | &nbsp;&nbsp;$280187437 | &nbsp;&nbsp;$283517925 | &nbsp;&nbsp;$428467292 | &nbsp;&nbsp;$423061197 |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF CHANGES IN NET ASSETS — (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA PineBridge<br> High-Yield Bond** | &nbsp;&nbsp;**SA PineBridge<br> High-Yield Bond** | &nbsp;&nbsp;**SA Putnam<br> International Value (3)** | &nbsp;&nbsp;**SA Putnam<br> International Value (3)** | &nbsp;&nbsp;**SA Schroders VCP<br> Global Allocation** | &nbsp;&nbsp;**SA Schroders VCP<br> Global Allocation** |
|  | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** |
| **INCREASE (DECREASE) IN NET ASSETS** |  |  |  |  |  |  |
| **OPERATIONS:** |  |  |  |  |  |  |
| Net investment income (loss)<br>| &nbsp;&nbsp;$8152548 | &nbsp;&nbsp;$16073675 | &nbsp;&nbsp;$5992705 | &nbsp;&nbsp;$8548628 | &nbsp;&nbsp;$4879618 | &nbsp;&nbsp;$9191960 |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2688171) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5214830 | &nbsp;&nbsp;&nbsp;&nbsp;16822493 | &nbsp;&nbsp;&nbsp;&nbsp;29875524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1062287 | &nbsp;&nbsp;&nbsp;&nbsp;25296998 |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2839445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(853040) | &nbsp;&nbsp;&nbsp;&nbsp;26404223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(820816) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7574241 | &nbsp;&nbsp;&nbsp;&nbsp;24208965 |
| Net increase (decrease) in net assets resulting from operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8303822 | &nbsp;&nbsp;&nbsp;&nbsp;20435465 | &nbsp;&nbsp;&nbsp;&nbsp;49219421 | &nbsp;&nbsp;&nbsp;&nbsp;37603336 | &nbsp;&nbsp;&nbsp;&nbsp;13516146 | &nbsp;&nbsp;&nbsp;&nbsp;58697923 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |  |  |
| Distributable earnings — Class 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8371275) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(13237563) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6758) |
| Distributable earnings — Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(340118) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(295804) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Distributable earnings — Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8435857) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6147294) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7464391) |
| Total distributions to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(17147250) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(19680661) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7471149) |
| **CAPITAL SHARE TRANSACTIONS (Note 7)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5876821) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3440351 | &nbsp;&nbsp;&nbsp;&nbsp;(14177334) | &nbsp;&nbsp;&nbsp;&nbsp;(63223164) | &nbsp;&nbsp;&nbsp;&nbsp;(37600069) | &nbsp;&nbsp;&nbsp;&nbsp;(73215776) |
| **TOTAL INCREASE (DECREASE) IN NET ASSETS<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2427001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6728566 | &nbsp;&nbsp;&nbsp;&nbsp;35042087 | &nbsp;&nbsp;&nbsp;&nbsp;(45300489) | &nbsp;&nbsp;&nbsp;&nbsp;(24083923) | &nbsp;&nbsp;&nbsp;&nbsp;(21989002) |
| **NET ASSETS:** |  |  |  |  |  |  |
| Beginning of period<br>| &nbsp;&nbsp;&nbsp;&nbsp;260091307 | &nbsp;&nbsp;&nbsp;&nbsp;253362741 | &nbsp;&nbsp;&nbsp;&nbsp;290101506 | &nbsp;&nbsp;&nbsp;&nbsp;335401995 | &nbsp;&nbsp;&nbsp;&nbsp;441950585 | &nbsp;&nbsp;&nbsp;&nbsp;463939587 |
| End of period<br>| &nbsp;&nbsp;$262518308 | &nbsp;&nbsp;$260091307 | &nbsp;&nbsp;$325143593 | &nbsp;&nbsp;$290101506 | &nbsp;&nbsp;$417866662 | &nbsp;&nbsp;$441950585 |

---

 <br> (3) Prior to April 28, 2025, the Portfolio was known as SA Putnam International Growth and Income Portfolio.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA Small Cap<br> Index** | &nbsp;&nbsp;**SA Small Cap<br> Index** | &nbsp;&nbsp;**SA T. Rowe Price<br> Allocation Moderately<br> Aggressive (4)** | &nbsp;&nbsp;**SA T. Rowe Price<br> Allocation Moderately<br> Aggressive (4)** | &nbsp;&nbsp;**SA T. Rowe Price<br> VCP Balanced** | &nbsp;&nbsp;**SA T. Rowe Price<br> VCP Balanced** |
|  | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** |
| **INCREASE (DECREASE) IN NET ASSETS** |  |  |  |  |  |  |
| **OPERATIONS:** |  |  |  |  |  |  |
| Net investment income (loss)<br>| &nbsp;&nbsp;$1459967 | &nbsp;&nbsp;$2570208 | &nbsp;&nbsp;$4908437 | &nbsp;&nbsp;$7524683 | &nbsp;&nbsp;$14040690 | &nbsp;&nbsp;$27218455 |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5773382 | &nbsp;&nbsp;&nbsp;&nbsp;18487138 | &nbsp;&nbsp;&nbsp;&nbsp;23343284 | &nbsp;&nbsp;&nbsp;&nbsp;46658539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44952458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135740317 |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;(16813935) | &nbsp;&nbsp;&nbsp;&nbsp;31711933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6296213 | &nbsp;&nbsp;&nbsp;&nbsp;61942948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10235875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53703452 |
| Net increase (decrease) in net assets resulting from operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9580586) | &nbsp;&nbsp;&nbsp;&nbsp;52769279 | &nbsp;&nbsp;&nbsp;&nbsp;34547934 | &nbsp;&nbsp;&nbsp;&nbsp;116126170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69229023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216662224 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |  |  |
| Distributable earnings — Class 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5581968) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11950) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5258) |
| Distributable earnings — Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Distributable earnings — Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1545424) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(15237138) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27051658) |
| Total distributions to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7127392) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(15249088) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27056916) |
| **CAPITAL SHARE TRANSACTIONS (Note 7)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;(14663817) | &nbsp;&nbsp;&nbsp;&nbsp;(24431440) | &nbsp;&nbsp;&nbsp;&nbsp;(35854532) | &nbsp;&nbsp;&nbsp;&nbsp;(27019883) | &nbsp;&nbsp;&nbsp;&nbsp;(129562120) | &nbsp;&nbsp;&nbsp;&nbsp;(204049558) |
| **TOTAL INCREASE (DECREASE) IN NET ASSETS<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;(24244403) | &nbsp;&nbsp;&nbsp;&nbsp;21210447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1306598) | &nbsp;&nbsp;&nbsp;&nbsp;73857199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60333097) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14444250) |
| **NET ASSETS:** |  |  |  |  |  |  |
| Beginning of period<br>| &nbsp;&nbsp;&nbsp;&nbsp;318142745 | &nbsp;&nbsp;&nbsp;&nbsp;296932298 | &nbsp;&nbsp;&nbsp;&nbsp;773969381 | &nbsp;&nbsp;&nbsp;&nbsp;700112182 | &nbsp;&nbsp;&nbsp;&nbsp;1439322273 | &nbsp;&nbsp;&nbsp;&nbsp;1453766523 |
| End of period<br>| &nbsp;&nbsp;$293898342 | &nbsp;&nbsp;$318142745 | &nbsp;&nbsp;$772662783 | &nbsp;&nbsp;$773969381 | &nbsp;&nbsp;$1378989176 | &nbsp;&nbsp;$1439322273 |

---

 <br> (4) Prior to April 28, 2025, the Portfolio was known as SA T. Rowe Price Asset Allocation Growth Portfolio.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### STATEMENTS OF CHANGES IN NET ASSETS — (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**SA VCP<br> Dynamic<br> Allocation** | &nbsp;&nbsp;**SA VCP<br> Dynamic<br> Allocation** | &nbsp;&nbsp;**SA VCP<br> Dynamic<br> Strategy** | &nbsp;&nbsp;**SA VCP<br> Dynamic<br> Strategy** | &nbsp;&nbsp;**SA VCP Index<br> Allocation** | &nbsp;&nbsp;**SA VCP Index<br> Allocation** |
|  | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** | &nbsp;&nbsp;**For the<br> Six Months<br> Ended<br> July 31,<br> 2025<br> (unaudited)** | &nbsp;&nbsp;**For the<br> Year Ended<br> January 31,<br> 2025** |
| **INCREASE (DECREASE) IN NET ASSETS** |  |  |  |  |  |  |
| **OPERATIONS:** |  |  |  |  |  |  |
| Net investment income (loss)<br>| &nbsp;&nbsp;$7234189 | &nbsp;&nbsp;$136481514 | &nbsp;&nbsp;$4853121 | &nbsp;&nbsp;$76496593 | &nbsp;&nbsp;$745112 | &nbsp;&nbsp;$10518321 |
| Net realized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59151649) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625072970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(76335776) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291693056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7903881) | &nbsp;&nbsp;&nbsp;&nbsp;57248850 |
| Net unrealized gain (loss) on investments and foreign currencies<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378302969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448770260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193977662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378709462 | &nbsp;&nbsp;&nbsp;&nbsp;16974512 | &nbsp;&nbsp;&nbsp;&nbsp;23860804 |
| Net increase (decrease) in net assets resulting from operations<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326385509 | &nbsp;&nbsp;&nbsp;&nbsp;1210324744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122495007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;746899111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9815743 | &nbsp;&nbsp;&nbsp;&nbsp;91627975 |
| **DISTRIBUTIONS TO SHAREHOLDERS FROM:** |  |  |  |  |  |  |
| Distributable earnings — Class 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13997) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10976) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36193) |
| Distributable earnings — Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Distributable earnings — Class 3<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(216837876) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72574244) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(35731650) |
| Total distributions to shareholders<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(216851873) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72585220) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(35767843) |
| **CAPITAL SHARE TRANSACTIONS (Note 7)<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720718143 | &nbsp;&nbsp;&nbsp;&nbsp;(1217152974) | &nbsp;&nbsp;&nbsp;&nbsp;(431022438) | &nbsp;&nbsp;&nbsp;&nbsp;(849532083) | &nbsp;&nbsp;&nbsp;&nbsp;(18939830) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4324557) |
| **TOTAL INCREASE (DECREASE) IN NET ASSETS<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;1047103652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(223680103) | &nbsp;&nbsp;&nbsp;&nbsp;(308527431) | &nbsp;&nbsp;&nbsp;&nbsp;(175218192) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9124087) | &nbsp;&nbsp;&nbsp;&nbsp;51535575 |
| **NET ASSETS:** |  |  |  |  |  |  |
| Beginning of period<br>| &nbsp;&nbsp;&nbsp;&nbsp;8126709279 | &nbsp;&nbsp;&nbsp;&nbsp;8350389382 | &nbsp;&nbsp;&nbsp;&nbsp;5190105866 | &nbsp;&nbsp;&nbsp;&nbsp;5365324058 | &nbsp;&nbsp;&nbsp;&nbsp;561827661 | &nbsp;&nbsp;&nbsp;&nbsp;510292086 |
| End of period<br>| &nbsp;&nbsp;$9173812931 | &nbsp;&nbsp;$8126709279 | &nbsp;&nbsp;$4881578435 | &nbsp;&nbsp;$5190105866 | &nbsp;&nbsp;$552703574 | &nbsp;&nbsp;$561827661 |

---

See Notes to Financial Statements

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS

------

#### Note 1 — Organization
&nbsp;&nbsp;&nbsp;&nbsp;SunAmerica Series Trust (the "Trust" or "SAST"), a Massachusetts business trust, is registered with the Securities and Exchange Commission (the "SEC") under the Investment Company Act of 1940, as amended (the "1940 Act") as an open-end management investment company. The Trust is comprised of 59 portfolios (each, a "Portfolio," and collectively, the "Portfolios"), 51 of which are included in this report. SunAmerica Asset Management, LLC ("SAAMCo" or the "Adviser"), an indirect wholly owned subsidiary of Corebridge Financial, Inc. ("Corebridge"), serves as investment adviser for all the Portfolios of the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;Shares of the Portfolios are issued and redeemed in connection with investments in and payments under variable annuity contracts and variable life policies (collectively, the "Variable Contracts") offered by life insurance companies affiliated with the Adviser and Nassau Life Insurance Company, an unaffiliated life insurance company (the "Life Companies"), and are also offered to certain affiliated mutual funds. All shares may be purchased or redeemed at net asset value without any sales or redemption charges.

&nbsp;&nbsp;&nbsp;&nbsp;Class 1 shares, Class 2 shares and Class 3 shares of each Portfolio may be offered in connection with certain variable contracts. Class 2 and 3 shares of a given Portfolio are identical in all respects to Class 1 shares of the same Portfolio, except that (i) each class may bear differing amounts of certain class-specific expenses; (ii) Class 2 shares and Class 3 shares are subject to service fees while Class 1 shares are not; and (iii) Class 2 shares and Class 3 shares have voting rights on matters that pertain to the Rule 12b-1 plan adopted with respect to Class 2 shares and Class 3 shares. Class 2 and Class 3 shares of each Portfolio pay service fees at an annual rate of 0.15% and 0.25%, respectively, of each class's average daily net assets. The Board of Trustees may establish additional portfolios or classes in the future.

&nbsp;&nbsp;&nbsp;&nbsp;Each Portfolio is diversified with the exception of SA Fidelity Institutional AM® Real Estate Portfolio, SA Janus Focused Growth Portfolio, SA MFS Large Cap Growth Portfolio and SA PIMCO Global Bond Opportunities Portfolio, which are non-diversified as defined by the 1940 Act. Additionally, the SA Large Cap Growth Index Portfolio may, from time to time, become non-diversified, in following its investment strategy as noted below.

&nbsp;&nbsp;&nbsp;&nbsp;Effective April 29, 2025, the SA MFS Blue Chip Growth Portfolio, the SA Putnam International Growth and Income Portfolio and the SA T. Rowe Price Asset Allocation Growth Portfolio changed its names to SA MFS Large Cap Growth Portfolio, SA Putnam International Value Portfolio, and SA T. Rowe Price Allocation Moderately Aggressive Portfolio, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;Effective July 28, 2025, the SA JPMorgan Global Equities Portfolio changed its name to SA Fidelity Institutional AM® Global Equities Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;The investment goals for each of the Portfolios included in this report are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;The **SA AB Growth Portfolio** seeks long-term growth of capital. Its strategy is to invest primarily in equity securities of a limited number of large, carefully selected, high quality U.S. companies that are judged likely to achieve superior long-term earnings growth.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA AB Small & Mid Cap Value Portfolio** seeks long-term growth of capital. Its strategy is to invest under normal circumstances at least 80% of its net assets in equity securities of companies with small and medium market capitalizations that the subadviser determines to be undervalued.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA BlackRock Multi-Factor 70/30 Portfolio** seeks capital appreciation and income. Its strategy is to invest, under normal circumstances, approximately 70% of its net assets in equity securities and 30% of its net assets in fixed income securities.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Emerging Markets Equity Index Portfolio** seeks to provide investment results that correspond with the performance of the MSCI Emerging Market Index (the "MSCI Emerging Markets). Its strategy is to invest, under normal circumstances, at least 80% of its net assets in securities included in the MSCI Emerging Market Index.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Federated Hermes Corporate Bond Portfolio** seeks high total return with only moderate price risk. Its strategy is to invest, under normal conditions, at least 80% of its net assets in corporate bonds, which includes any corporate fixed income security. The Portfolio invests primarily in investment grade fixed income securities; but may invest up to 35% in fixed income securities rated below investment grade or "junk bonds."

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Fidelity Institutional AM® Global Equities Portfolio** seeks long-term growth of capital. Its strategy is to invest primarily in equity securities of companies anywhere in the world, with a focus on the constituent countries and securities of the MSCI World Index (net), which tracks the performance of large and mid-cap companies across 23 developed markets worldwide.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Fidelity Institutional AM® International Growth Portfolio** seeks long-term growth of capital. Its strategy is to invest primarily in non-U.S. securities, including securities of issuers located in emerging markets that demonstrate the potential for capital appreciation.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Fidelity Institutional AM® Real Estate Portfolio** seeks total return through a combination of growth and income. Its strategy is to invest, under normal circumstances, at least 80% of its net assets in securities of companies principally engaged in the real estate industry and other real estate related investments.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Fixed Income Portfolio** seeks to provide investment results that correspond with the performance of the Bloomberg Barclays US Government/Credit Bond Index (the "Bloomberg Barclays US Government/Credit Bond"). Its strategy is to invest, under normal circumstances, at least 80% of its net assets in securities included in the Bloomberg Barclays US Government/Credit Bond Index.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Fixed Income Intermediate Index Portfolio** seeks to provide investment results that correspond with the performance of the Bloomberg Barclays US Intermediate Government/Credit Bond Index (the "Bloomberg Barclays US Intermediate Government/Credit Bond"). Its strategy is to invest, under normal circumstances, at least 80% of its net assets in securities included in the Bloomberg Barclays US Intermediate Government/Credit Bond Index or that have economic characteristics comparable to securities included in the index.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Franklin BW U.S. Large Cap Value Portfolio** seeks growth of capital. Its strategy is to invest, under normal circumstances, at least 80% of its net assets in equity securities of large capitalization companies.

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Franklin Small Company Value Portfolio** seeks long-term growth of capital. Its strategy is to invest, under normal circumstances, at least 80% of its net assets in a diversified portfolio of equity securities of small companies.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Franklin Systematic U.S. Large Cap Core Portfolio** seeks long-term growth of capital appreciation. Its strategy is to invest, under normal circumstances, at least 80% of its net assets in equity securities of U.S. issuers.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Franklin Systematic U.S. Large Cap Value Portfolio** seeks long-term capital appreciation. Its strategy is to invest, under normal circumstances, approximately 80% of its net assets in equity securities of U.S. large capitalization companies.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Franklin Tactical Opportunities Portfolio** seeks growth of capital appreciation and income. Its strategy is to invest, under normal circumstances, approximately 70% (with a range of 60% to 80%) of its net assets in equity strategies and approximately 30% (with a range of 20% to 40%) of its net assets in fixed income strategies. income securities.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Global Index Allocation 60/40 Portfolio** seeks growth of capital, and secondarily, current income. Its strategy is to invest under normal circumstances, in mutual funds ("Underlying Portfolios") allocating 60% of its assets (with a range of 50% to 70%) in Underlying Portfolios investing primarily in equity securities ("Underlying Equity Portfolios") and 40% of its assets (with a range of 30% to 50%) Underlying Portfolios investing primarily in fixed income securities ("Underlying Fixed Income Portfolios").

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Global Index Allocation 75/25 Portfolio** seeks growth of capital, and secondarily, current income. Its strategy is to invest under normal circumstances, in mutual funds ("Underlying Portfolios") allocating 75% of its assets (with a range of 65% to 85% in equity securities ("Underlying Equity Portfolios") and 25% of its assets (with a range of 15% to 35%) to Underlying Portfolios investing primarily fixed income securities ("Underlying Fixed Income Portfolios").

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Global Index Allocation 90/10 Portfolio** seeks growth of capital. Its strategy is to invest under normal circumstances, in mutual funds ("Underlying Portfolios") allocating 90% of its assets (with a range of 80% to 100%) in Underlying Portfolios investing primarily in equity securities ("Underlying Equity Portfolios") and 10% of its assets (with a range of 0% to 20%) to Underlying Portfolios investing primarily in fixed income securities ("Underlying Fixed Income Portfolios").

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Goldman Sachs Multi-Asset Insights Portfolio** seeks capital appreciation and income while managing portfolio volatility. Its strategy is to invest, under normal circumstances, approximately 70% (with a range of 60% to 80%) of its net assets in equity exposure and approximately 30% (with a range of 20% to 40%) of its net assets in fixed income exposure.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Index Allocation 60/40 Portfolio** seeks growth of capital, and secondarily, current income. Its strategy is to invest under normal circumstances, in mutual funds ("Underlying Portfolios") allocating 60% of its assets (with a range of 50% to 70%) in Underlying Portfolios investing primarily in equity securities ("Underlying Equity Portfolios") and 40% of its assets (with a range of 30% to 50%) to Underlying Portfolios investing primarily in fixed income securities ("Underlying Fixed Income Portfolios").

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Index Allocation 80/20 Portfolio** seeks growth of capital, and secondarily, current income. Its strategy is to invest under normal circumstances, in mutual funds ("Underlying Portfolios") allocating 80% of its assets (with a range of 70% to 90% in equity securities ("Underlying Equity Portfolios") and 20% of its assets (with a range of 10% to 30%) to Underlying Portfolios investing primarily in fixed income securities ("Underlying Fixed Income Portfolios").

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Index Allocation 90/10 Portfolio** seeks growth of capital. Its strategy is to invest under normal circumstances, in mutual funds ("Underlying Portfolios") allocating 90% of its assets (with a range of 80% to 100%) in Underlying Portfolios investing primarily in equity securities ("Underlying Equity Portfolios") and 10% of its assets (with a range of 0% to 20%) to Underlying Portfolios investing primarily in fixed income securities ("Underlying Fixed Income Portfolios").

&nbsp;&nbsp;&nbsp;&nbsp;The **SA International Index Portfolio** seeks investment results that correspond with the performance of the MSCI EAFE Index (the "MSCI EAFE"). Its strategy is to invest, under normal circumstances, at least 80% of its net assets in securities included in the MSCI EAFE or in securities that have economic characteristics comparable to securities included in the index.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Invesco Growth Opportunities Portfolio** seeks capital appreciation. Its strategy is to invest in equity securities that demonstrate the potential for capital appreciation, issued generally by small-cap companies.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Janus Focused Growth Portfolio** seeks long-term growth of capital. Its strategy is to invest, under normal market conditions, at least 65% of its assets in equity securities of companies selected for their long term growth potential with a general core position of 30 to 40 common stocks.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA JPMorgan Diversified Balanced Portfolio** seeks total return. Its strategy is to invest, under normal circumstances, in a balanced portfolio of common stocks and bonds, with at least 25% invested in equity securities and in fixed income securities.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA JPMorgan Emerging Markets Portfolio** seeks long-term capital appreciation. Its strategy is to invest, under normal circumstances, at least 80% of its net assets in common stocks, depositary receipts and other equity securities of companies primarily in emerging markets outside the U.S., which the subadviser believes, when compared to developed markets, have above-average growth prospects.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA JPMorgan Equity-Income Portfolio** seeks growth of capital and income. Its strategy is to invest primarily in common stocks (principally large-cap and mid-cap) that demonstrate the potential for appreciation and/or dividends.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA JPMorgan Large Cap Core Portfolio** seeks long-term capital appreciation. Its strategy is to invest under normal circumstances, at least 80% of its net assets in equity investments selected by their potential to achieve capital appreciation over the long-term.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA JPMorgan MFS Core Bond Portfolio** seeks maximum total return consistent with preservation of capital and prudent investment management. Its strategy is to invest under normal circumstances at least 80% of its net assets in a diversified portfolio of bonds including U.S. and foreign fixed income investments with varying maturities.

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

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&nbsp;&nbsp;&nbsp;&nbsp;The **SA JPMorgan Mid-Cap Growth Portfolio** seeks long-term growth of capital. Its strategy is to invest, under normal circumstances, at least 80% of its net assets in equity securities of medium-sized companies that its subadviser believes have above-average growth potential.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA JPMorgan Ultra-Short Bond Portfolio** seeks current income consistent with liquidity and preservation of capital. Its strategy is to invest, under normal circumstances, at least 80% of its net assets in short-term fixed, variable and floating rate debt.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Large Cap Growth Index Portfolio** seeks investment results that correspond with the performance of the Standard & Poor's 500® Growth Index ("S&P 500 Growth"). Its strategy is to invest, under normal circumstances, at least 80% of its net assets in common stocks included in the S&P 500 Growth or in securities that have economic characteristics comparable to securities included in the index.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Large Cap Index Portfolio** seeks investment results that correspond with the performance of the Standard & Poor's 500® Composite Stock Price Index ("S&P 500®"). Its strategy is to invest, under normal circumstances, at least 90% of its net assets in common stocks included in the S&P 500 or in securities that have economic characteristics comparable to securities included in the index.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Large Cap Value Index Portfolio** seeks investment results that correspond with the performance of the Standard & Poor's 500® Value Index ("S&P 500 Value"). Its strategy is to invest, under normal circumstances, at least 80% of its net assets in common stocks included in the S&P 500 Value or in securities that have economic characteristics comparable to securities included in the index.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA MFS Large Cap Growth Portfolio** seeks capital appreciation. Its strategy is to invest, under normal circumstances, at least 80% of its net assets in securities of large capitalization companies.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA MFS Massachusetts Investors Trust Portfolio** seeks reasonable growth of income and long-term growth and appreciation. Its strategy is to invest primarily, under normal market conditions, at least 65% of its assets in equity securities.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA MFS Total Return Portfolio** seeks reasonable current income, long-term capital growth and conservation of capital. Its strategy is to invest in a combination of equity and fixed income securities. Under normal circumstances, approximately 60% of its net assets will be invested in equity securities and approximately 40% of its assets in debt instruments.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Mid Cap Index Portfolio** seeks investment results that correspond with the performance of the S&P MidCap 400 Index ("S&P MidCap 400"). Its strategy is to invest, under normal circumstances, at least 80% of its net assets in securities included in S&P MidCap 400 or in securities that have economic characteristics comparable to securities included in the index.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Morgan Stanley International Equities Portfolio** seeks long-term capital appreciation. Its strategy is to invest in a diversified portfolio of equity securities of non-U.S. issuers based on fundamental analysis and individual stock selection. Under normal circumstances, at least 80% of its net assets will be invested in equity securities that may include convertible securities.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA PIMCO Global Bond Opportunities Portfolio** seeks maximum total return, consistent with preservation of capital. Its strategy is to invest, under normal circumstances, at least 80% of its net assets in high quality fixed income securities of U.S. and foreign issuers, including issuers of emerging markets.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA PIMCO RAE International Value Portfolio** seeks long-term capital appreciation. Its strategy is to invest, under normal circumstances, in a portfolio of stocks economically tied to at least three foreign (non-U.S.) countries.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA PineBridge High-Yield Bond Portfolio** seeks high current income and, secondarily, capital appreciation. Its strategy is to invest, under normal circumstances, at least 80% of its net assets in intermediate and long-term corporate obligations, emphasizing high-yield, high-risk fixed income securities (junk bonds) with a primary focus on "B" rated high-yield securities.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Putnam International Value Portfolio** seeks growth of capital and, secondarily, current income. Its strategy is to invest primarily in common stocks of companies outside the U.S. that the subadviser considers undervalued by the market and offers a potential for income.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Schroders VCP Global Allocation Portfolio** seeks capital appreciation and income while managing portfolio volatility. Its strategy is to invest through flexible asset allocation driven by tactical and thematic ideas. Under normal market conditions, the Portfolio targets an allocation of approximately 60% (with the range of 50% to 70%) of its net assets to equity exposure and approximately 40% (with a range of 20% to 50%) of its net assets to fixed income exposure.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA Small Cap Index Portfolio** seeks investment results that correspond with the performance of the Russell 2000 Index ("Russell 2000"). Its strategy is to invest, under normal circumstances, at least 80% of its net assets in securities included in securities included in Russell 2000 or in securities that have economic characteristics comparable to securities included in the index.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA T. Rowe Price Allocation Growth Moderately Aggressive Portfolio** seeks capital appreciation and income. Its strategy is to invest, under normal circumstances, approximately 80% (with a range of 70% to 90%) of its net assets in equity strategies and approximately 20% (with a range of 10% to 30%) of its net assets in fixed income strategies.

&nbsp;&nbsp;&nbsp;&nbsp;The **SA T. Rowe Price VCP Balanced Portfolio** seeks capital appreciation and income while managing portfolio volatility. Its strategy is to invest approximately 65% of its total assets in common stocks and 35% of its total assets in fixed income securities. The Portfolio invests in securities of both U.S. and foreign corporate and governmental issuers, including emerging market issuers.

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

&nbsp;&nbsp;&nbsp;&nbsp;The **SA VCP Dynamic Allocation Portfolio** seeks capital appreciation and current income while managing net equity exposure. Its strategy is to invest under normal conditions approximately 70% to 90% of its assets in certain Trust portfolios and Seasons Series Trust ("SST") portfolios (Fund-of-Funds Component) and 10% to 30% of its assets in a portfolio of derivative instruments, fixed-income securities and short-term investments (Overlay Component).

&nbsp;&nbsp;&nbsp;&nbsp;The **SA VCP Dynamic Strategy Portfolio** seeks capital appreciation and current income while managing net equity exposure. Its strategy is to invest under normal conditions approximately 70% to 90% of its assets in certain Trust portfolios and SST portfolios (Fund-of-Funds Component) and 10% to 30% of its assets in a portfolio of derivative instruments, fixed-income securities and short-term investments (Overlay Component).

&nbsp;&nbsp;&nbsp;&nbsp;The **SA VCP Index Allocation Portfolio** seeks capital appreciation and secondarily, income while managing portfolio volatility. Its strategy is to invest under normal circumstances approximately 80% of its assets in combination of other mutual funds ("Fund-of-Funds Component") and 20% of its assets in a combination of equity index and fixed income futures, currency forwards and equity index put options ("Overlay Component").

&nbsp;&nbsp;&nbsp;&nbsp;**Indemnifications:** The Trust's organizational documents provide current and former officers and trustees with a limited indemnification against liabilities arising out of the performance of their duties to the Trust. In addition, pursuant to Indemnification Agreements between the Trust and each of the current (and certain former) trustees who is not an "interested person," as defined in Section 2(a)(19) of the 1940 Act, of the Trust (collectively, the "Disinterested Trustees"), the Trust provides the Disinterested Trustees with a limited indemnification against liabilities arising out of the performance of their duties to the Trust, whether such liabilities are asserted during or after their service as trustees. In addition, in the normal course of business the Trust enters into contracts that contain the obligation to indemnify others. The Trust's maximum exposure under these arrangements is unknown. Currently, however, the Trust expects the risk of loss to be remote.

#### Note 2 — Significant Accounting Policies
&nbsp;&nbsp;&nbsp;&nbsp;The preparation of financial statements in accordance with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates and those differences could be significant. Each Portfolio is an investment company and accordingly, follows the investment company accounting and reporting guidance in Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, Financial Services - Investment Companies. The following is a summary of significant accounting policies consistently followed by the Trust, in the preparation of its financial statements:

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

&nbsp;&nbsp;&nbsp;&nbsp;Level 1 — Unadjusted quoted prices in active markets for identical securities

&nbsp;&nbsp;&nbsp;&nbsp;Level 2 — Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, referenced indices, quoted prices in inactive markets, adjusted quoted prices in active markets, adjusted quoted prices on foreign equity securities that were adjusted in accordance with pricing procedures adopted by the Board of Trustees (the "Board")

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;The summary of the Portfolios' assets and liabilities classified in the fair value hierarchy as of July 31, 2025, is reported on a schedule at the end of each Portfolio's Portfolio of Investments.

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

&nbsp;&nbsp;&nbsp;&nbsp;As of the close of regular trading on the New York Stock Exchange ("NYSE"), securities traded primarily on security exchanges outside the United States are valued at the last sale price on such exchanges on the day of valuation, or if there is no sale on the day of valuation, at the last-reported bid price. If a security's price is available from more than one exchange, the Portfolios use the exchange that is the primary market for the security. Such securities are generally categorized as Level 1. However, depending on the foreign

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#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

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

&nbsp;&nbsp;&nbsp;&nbsp;Bonds, debentures, and other debt securities are valued at evaluated bid prices obtained for the day of valuation from an independent pricing service and are generally categorized as Level 2. The pricing services may use valuation models or matrix pricing which considers information with respect to comparable bond and note transactions, quotations from bond dealers, or by reference to other securities that are considered comparable in such characteristics as rating, interest rate, maturity date, option adjusted spread models, prepayments projections, interest rate spreads, and yield curves to determine current value. Typically, these securities are valued assuming orderly transactions of institutional round lot sizes, but a Portfolio may hold or, from time to time, transact in such securities in smaller, odd lot sizes in which case they may be fair valued in accordance with pricing procedures adopted by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;Senior floating rate loans ("Loans") are valued at the average of available bids in the market for such Loans, as provided by an independent loan pricing service, and are generally categorized as Level 2.

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

&nbsp;&nbsp;&nbsp;&nbsp;Futures contracts traded on national securities exchanges are valued at the quoted daily settlement price established by the exchange on which they trade reported by an independent pricing service, and are generally categorized as Level 1. Interest rate, credit default, inflation and currency swap agreements are valued utilizing quotes received daily by independent pricing services, which are derived using daily swap curves and models that incorporate market data and discounted cash flows and are generally categorized as Level 2. Total return and contracts for difference swap agreements are valued utilizing quotes received daily by independent pricing services, which are derived using models that incorporate market trades and fair value of the underlying reference instrument and are generally categorized as Level 2. Option contracts traded on national securities exchanges are valued at the mean of the last bid and ask price reported by an independent pricing service as of the close of the exchange on which they are traded, and are generally categorized as Level 1. Option contracts traded in the over-the-counter ("OTC") market are valued at the mid valuation provided by an independent pricing service, and are generally categorized as Level 2. Forward foreign currency contracts ("forward contracts") are valued at the 4:00 p.m. Eastern Time forward rate and are generally categorized as Level 2.

&nbsp;&nbsp;&nbsp;&nbsp;Other securities are valued on the basis of last sale or bid price (if a last sale price is not available) which is, in the opinion of the Adviser, the broadest and most representative market, that may be either a securities exchange or OTC market, and are generally categorized as Level 1 or Level 2. Securities for which market quotations are not readily available or the values of which may be significantly impacted by the occurrence of developments or significant events are generally categorized as Level 3. Because there is no single standard for making fair value determinations, the Portfolios' fair determinations may vary from fair value determinations made by other funds for the same securities.

&nbsp;&nbsp;&nbsp;&nbsp;The Board must determine fair value in good faith for portfolio holdings for which market quotations are not readily available or are unreliable. The Board has designated SAAMCo as the valuation designee ("Valuation Designee") to perform the fair valuation determinations relating to any or all fund investments. SAAMCo, as the Valuation Designee, has adopted policies and procedures and has established a pricing review committee to determine the fair value of the designated portfolio holdings on its behalf.

&nbsp;&nbsp;&nbsp;&nbsp;**Inflation-Indexed Bonds:** Certain Portfolios may purchase inflation-indexed bonds. Inflation-indexed bonds are fixed income securities whose principal value is adjusted periodically according to the rate of inflation. Two structures are common. The U.S. Treasury and certain other issuers use a structure that reflects inflation in the principal value of the bond. Other issuers pay out any inflation related accruals as part of a semiannual coupon. The value of inflation-indexed bonds is expected to change in response to changes in real interest rates. Real interest rates, in turn, are tied to the relationship between nominal interest rates (i.e., stated interest rates) and the rate of inflation. Therefore, if the rate of inflation rises at a faster rate than nominal interest rates, real interest rates (i.e., nominal interest rates minus inflation) might decline, leading to an increase in value of inflation-indexed bonds. In contrast, if nominal interest rates increase at a faster rate than inflation, real interest rates might rise, leading to a decrease in value of inflation-indexed bonds. There can be no assurance, however, that the value of inflation-indexed bonds will be directly correlated to changes in nominal interest rates, and short-term increases in inflation may lead to a decline in their value. Coupon payments received from inflation- indexed bonds are recorded in the Statement of Operations as interest income. In addition, any increase or decrease in the principal amount of an inflation-indexed bond will be recorded in the Statement of Operations as an increase or decrease to interest income, even though principal is not paid until maturity.

&nbsp;&nbsp;&nbsp;&nbsp;**Loans:** Certain Portfolios invest in senior loans which generally consist of direct debt obligations of companies (collectively, "Borrowers"), primarily U.S. companies and their affiliates, undertaken to finance the growth of the Borrower's business internally and externally, or to finance a capital restructuring. Transactions in senior loans may settle on a delayed basis.

&nbsp;&nbsp;&nbsp;&nbsp;**Mortgage-Backed Dollar Rolls:** Certain Portfolios may enter into dollar rolls using "to be announced" ("TBA") mortgage-backed securities ("TBA Rolls"). TBA Roll transactions involve the sale of mortgage or other asset backed securities with the commitment to purchase substantially similar securities on a specified future date. The Portfolios' policy is to record the components of TBA Rolls as purchase/sale transactions. Any difference between the purchase and sale price is recorded as a realized gain or loss on the date the transaction is entered into. TBA Roll transactions involve the risk that the market value of the securities held by a Portfolio may decline below the price of the securities that the Portfolio has sold but is obligated to repurchase under the agreement. In the event that the buyer of securities in a TBA Roll transaction files bankruptcy or becomes insolvent, a Portfolio's use of the proceeds from the sale of the securities may be restricted pending a determination by the other party, or its trustee or receiver, whether to enforce the Portfolio's obligation to repurchase the securities.

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#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

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&nbsp;&nbsp;&nbsp;&nbsp;**Repurchase Agreements:** The Portfolios, along with other affiliated registered investment companies, pursuant to procedures adopted by the Board and applicable guidance from the Securities and Exchange Commission ("SEC"), may transfer uninvested cash balances into a single joint account, the daily aggregate balance of which is invested in one or more repurchase agreements collateralized by U.S. Treasury or federal agency obligations. In a repurchase agreement, the seller of a security agrees to repurchase the security at a mutually agreed-upon time and price, which reflects the effective rate of return for the term of the agreement. For repurchase agreements and joint repurchase agreements, the Trust's custodian takes possession of the collateral pledged for investments in such repurchase agreements ("repo" or collectively "repos"). The underlying collateral is valued daily on a mark to market basis, plus accrued interest to ensure that the value, at the time the agreement is entered into, is equal to at least 102% of the repurchase price, including accrued interest. In the event of default of the obligation to repurchase, a Portfolio has the right to liquidate the collateral and apply the proceeds in satisfaction of the obligation. If the seller defaults and the value of the collateral declines or if bankruptcy proceedings are commenced with respect to the seller of the security, realization of the collateral by a Portfolio may be delayed or limited.

&nbsp;&nbsp;&nbsp;&nbsp;**Reverse Repurchase Agreements:** Certain Portfolios may enter into reverse repurchase agreements with brokers, dealers, domestic and foreign banks or other financial institutions that have been determined by the Adviser or Subadviser to be creditworthy. In a reverse repurchase agreement, the Portfolio sells a security and agrees to repurchase it at a mutually agreed upon date and price, reflecting the interest rate effective for the term of the agreement. It may also be viewed as the borrowing of money by the Portfolio. The Portfolio's investment of the proceeds of a reverse repurchase agreement is the speculative factor known as leverage. A Portfolio will enter into a reverse repurchase agreement only if the interest income from investment of the proceeds is expected to be greater than the interest expense of the transaction and the proceeds are invested for a period no longer than the term of the agreement. Cash received in exchange for securities delivered plus accrued interest payments to be made by the Portfolio to counterparties are reflected as a liability on the Statement of Assets and Liabilities. Interest payments made by the Portfolio to counterparties are recorded as a component of interest expense on the Statement of Operations. In periods of increased demand for the security, the Portfolio may receive a fee for use of the security by the counterparty, which may result in interest income to the Portfolio. In order to minimize any risk involved, the Portfolio will segregate cash or other liquid securities in an amount at least equal to its purchase obligations under these agreements (including accrued interest). In the event that the buyer of securities under a reverse repurchase agreement files for bankruptcy or becomes insolvent, the buyer or its trustee or receiver may receive an extension of time to determine whether to enforce the Portfolio's repurchase obligation, and the Portfolio's use of proceeds of the agreement may effectively be restricted pending such decision

&nbsp;&nbsp;&nbsp;&nbsp;**Stripped Mortgage-Backed Securities:** Stripped Mortgage-Backed Securities ("SMBS") are multiple-class mortgage-backed securities. SMBS are often structured with two classes that receive different proportions of the interest and principal distributions on a pool of mortgage assets. SMBS have greater market volatility than other types of U.S. government securities in which a Portfolio invests. A common type of SMBS has one class receiving some of the interest and all or most of the principal (the "principal only" class) from the mortgage pool, while the other class will receive all or most of the interest (the "interest only" class). The yield to maturity on an interest only class is extremely sensitive not only to changes in prevailing interest rates, but also to the rate of principal payments, including principal prepayments, on the underlying pool of mortgage assets, and a rapid rate of principal payment may have a material adverse effect on a Portfolio's yield.

&nbsp;&nbsp;&nbsp;&nbsp;**Structured Notes:** A credit linked note ("CLN") is a type of hybrid instrument in which a special purpose entity issues a structured note (the "Note Issuer") that is intended to replicate a corporate bond or a portfolio of corporate bonds. The purchaser of the CLN (the "Note Purchaser") invests a par amount and receives a payment during the term of the CLN that equals a fixed- or floating-rate of interest equivalent to a high-rated funded asset (such as a bank certificate of deposit) plus an additional premium that relates to taking on the credit risk of an identified bond (the "Reference Bond"). Upon maturity of the CLN, the Note Purchaser will receive a payment equal to (i) the original par amount paid to the Note Issuer, if there is neither a designated event of default (an "Event of Default") with respect to the Reference Bond nor a restructuring of the issuer of the Reference Bond (a "Restructuring Event") or (ii) the value of the Reference Bond, if an Event of Default or a Restructuring Event has occurred. Depending upon the terms of the CLN, it is also possible that the Note Purchaser may be required to take physical delivery of the Reference Bond in the event of an Event of Default or a Restructuring Event.

&nbsp;&nbsp;&nbsp;&nbsp;**When-Issued Securities and Forward Commitments:** Certain Portfolios may purchase or sell when-issued securities, including TBA securities that have been authorized, but not yet issued in the market. In addition, a Portfolio may purchase or sell securities on a forward commitment basis. A forward commitment involves entering into a contract to purchase or sell securities, typically on an extended settlement basis, for a fixed price at a future date. The Portfolios may engage in when-issued or forward commitment transactions in order to secure what is considered to be an advantageous price and yield at the time of entering into the obligation. The purchase of securities on a when-issued or forward commitment basis involves a risk of loss if the value of the security to be purchased declines before the settlement date. Conversely, the sale of securities on a when-issued or forward commitment basis involves the risk that the value of the securities sold may increase before the settlement date.

&nbsp;&nbsp;&nbsp;&nbsp;**Foreign Currency Translation:** The books and records of the Portfolios are maintained in U.S. dollars. Assets and liabilities denominated in foreign currencies and commitments under forward foreign currency contracts are translated into U.S. dollars based on the exchange rate of such currencies against U.S. dollars on the date of valuation.

&nbsp;&nbsp;&nbsp;&nbsp;The Portfolios do not isolate that portion of the results of operations arising as a result of changes in the foreign exchange rates from the changes in the market prices of securities held at the end of the period. Similarly, the Portfolios do not isolate the effect of changes in foreign exchange rates from the changes in the market prices of portfolio securities sold during the period.

&nbsp;&nbsp;&nbsp;&nbsp;Realized foreign exchange gains and losses on other assets and liabilities and change in unrealized foreign exchange gains and losses on other assets and liabilities located in the Statements of Operations include realized foreign exchange gains and losses from currency gains or losses between the trade and the settlement dates of securities transactions, the difference between the amounts of interest, dividends and foreign withholding taxes recorded on the Portfolios' books and the U.S. dollar equivalent amounts actually received or paid and changes in the unrealized foreign exchange gains and losses relating to the other assets and liabilities arising as a result of changes in the exchange rates.

&nbsp;&nbsp;&nbsp;&nbsp;**Securities Transactions, Investment Income, Expenses, Dividends and Distributions to Shareholders:** Security transactions are recorded on a trade date basis. Realized gains and losses on the sale of investments are calculated on the identified cost basis. Interest income is accrued daily from settlement date except when collection is not expected. Dividend income is recorded on the ex-dividend date except for certain dividends from foreign securities, which are recorded as soon as the Trust is informed after the ex-dividend date. Paydown gains and losses on mortgage and asset-backed securities are recorded as components of interest income on the Statement of Operations. For

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#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

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financial statement purposes, the Portfolios amortize all premiums and accrete all discounts on fixed income securities. Distributions from income from underlying mutual fund investments, if any, are recorded to income on the ex-dividend date. Distributions from net realized capital gains from underlying mutual fund investments, if any, are recorded to realized gains on the ex-dividend date.

&nbsp;&nbsp;&nbsp;&nbsp;Portfolios which earn foreign income and capital gains may be subject to foreign withholding taxes and capital gains taxes at various rates. Under applicable foreign law, a withholding of tax may be imposed on interest, dividends, and capital gains from the sale of foreign securities at various rates. India, Thailand, and certain other countries' tax regulations require that taxes be paid on capital gains realized by a Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;In consideration of recent decisions rendered by the European courts, certain Portfolios filed reclaims to recover taxes withheld on dividends earned from certain European Union countries. These filing are subject to various administrative and judicial proceedings within these countries. During the current period, such amounts recovered, excluding any foreign exchange gain (loss) and interest income amounted to $291,869 and $193,856 for the SA PIMCO RAE International Value Portfolio and SA Putnam International Value Portfolio, respectively, and are reflected as Dividends (unaffiliated) in the Statement of Operations. No other amounts for additional tax reclaims are disclosed in the financial statements due to the uncertainty as to the ultimate resolution of the proceedings, the likelihood of receipt of these reclaims, and the potential timing of payment.

&nbsp;&nbsp;&nbsp;&nbsp;Distributions received from Real Estate Investment Trust ("REIT") investments are recharacterized based on information provided by the REIT into the following categories: ordinary income, long-term and short-term capital gains, and return of capital. If information is not available on a timely basis from the REIT, the recharacterization will be based on available information which may include the previous year's allocation. If new or additional information becomes available from the REIT at a later date, a recharacterization will be made in the following year. The amount recharacterized as ordinary income is recorded as dividend income and the amount recharacterized as capital gain is recorded as realized gain in the Statement of Operations. The amount recharacterized as return of capital is recorded as a reduction to the cost of investments in the Statement of Assets and Liabilities. These recharacterizations are reflected in the accompanying financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;Income, expenses other than class specific expenses, and realized and unrealized gains and losses are allocated daily to each class of shares based upon the relative net asset value of outstanding shares of each class of shares at the beginning of the day (after adjusting for current capital share activity of the respective class).

&nbsp;&nbsp;&nbsp;&nbsp;Expenses common to all Portfolios are allocated among the Portfolios based upon relative net assets or other appropriate allocation methods. In all other respects, expenses are charged to each Portfolio as incurred on a specific identification basis. The expenses included in the accompanying financial statements reflect the expenses of each of the respective funds and do not include indirect expenses associated with the investments in the Underlying Portfolios. "Fees paid indirectly" in the Statement of Operations represents expense reductions used to offset non-affiliated expenses resulting from participation in a commission recapture program.

&nbsp;&nbsp;&nbsp;&nbsp;Dividends from net investment income and capital gain distributions, if any, are paid annually. The Portfolios record dividends and distributions to their shareholders on the ex-dividend date.

&nbsp;&nbsp;&nbsp;&nbsp;The amount of dividends and distributions from net investment income and net realized capital gains are determined in accordance with federal income tax regulations, which may differ from GAAP. These "book/tax" differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the capital accounts at fiscal year end based on their federal tax-basis treatment; temporary differences do not require reclassification. Net assets are not affected by these reclassifications.

&nbsp;&nbsp;&nbsp;&nbsp;Each Portfolio is considered a separate entity for tax purposes and intends to comply with the requirements of the Internal Revenue Code, as amended, applicable to regulated investment companies and distribute all of its taxable income, including any net capital gains on investments, to its shareholders. Each Portfolio also intends to distribute sufficient net investment income and net capital gains, if any, so that it will not be subject to excise tax on undistributed income and gains. Therefore, no federal income tax or excise tax provision is required.

&nbsp;&nbsp;&nbsp;&nbsp;Each Portfolio recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained, assuming examination by tax authorities. Management has analyzed each Portfolio's tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. The Portfolios are not aware of any tax provisions for which it is reasonably possible that the total amounts of recognized tax benefits will change materially in the next twelve months. The Portfolios file U.S. federal and certain state income tax returns. The Portfolios federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service.

&nbsp;&nbsp;&nbsp;&nbsp;**Operating Segments:** An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker (CODM) in making resource allocation decisions and assessing segment performance, and for which discrete financial information is available.

&nbsp;&nbsp;&nbsp;&nbsp;The Portfolios' Adviser acts as the Portfolios' CODM and has determined that the Portfolios have a single operating segment. The financial information provided to and reviewed by the CODM to assess segment performance and to make resource allocations is consistent with that presented within the Portfolios' Portfolio of Investments, Statements of Assets and Liabilities, Statements of Operations, Statements of Changes in Net Assets and Financial Highlights.

#### Recent Accounting and Regulatory Developments
&nbsp;&nbsp;&nbsp;&nbsp;In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures". On an annual basis, ASU 2023-09 requires public entities to enhance the transparency and decision usefulness of income tax disclosures for investors. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024. Management is currently evaluating the impact, if any, of applying ASU 2023-09.

#### Note 3 — Derivative Instruments
&nbsp;&nbsp;&nbsp;&nbsp;**Forward Foreign Currency Contracts**: A forward contract is an agreement between two parties to buy or sell currency at a set price on a future date. The market value of the contract will fluctuate with changes in currency exchange rates. The contract is marked-to-market daily using the forward rate and the cumulative change in market value is

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#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

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recorded by a Portfolio as unrealized appreciation or depreciation. On the settlement date, a Portfolio records either realized gains or losses equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

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

&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts outstanding at the end of the period, if any, are reported on a schedule at the end of each Portfolio's Portfolio of Investments.

&nbsp;&nbsp;&nbsp;&nbsp;**Futures:** A futures contract is an agreement between two parties to buy and sell a financial instrument at a set price on a future date. Upon entering into a futures transaction, a Portfolio will be required to segregate an initial margin payment of cash or other liquid securities with the futures commission merchant (the "broker"). Subsequent payments are made or received by the Portfolio as a result of changes in the value of the contract and/or changes in the value of the initial margin requirement. Such receipts or payments are recorded in the Statements of Assets and Liabilities as receivable/payable for variation margin on futures contracts and as cash collateral on futures contracts for the changes in the value of the initial margin requirement. When a contract is closed, the Portfolios record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

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

&nbsp;&nbsp;&nbsp;&nbsp;Futures contracts outstanding at the end of the period, if any, are reported on a schedule at the end of each Portfolio's Portfolio of Investments.

&nbsp;&nbsp;&nbsp;&nbsp;**Options:** An option is a contract conveying a right to buy or sell a financial instrument at a specified price during a stipulated period. When a Portfolio writes a call or a put option, it receives a premium which is equal to the current market value of the option written. The premiums on written options are recorded as a liability on the Statement of Assets and Liabilities. If a Portfolio purchases a call or a put option, it pays a premium which reflects the current market value of the option and which is included on the Portfolio's Statement of Assets and Liabilities as an investment. The option position is marked to market daily and its value fluctuates based upon the value of the underlying financial instrument, time to expiration, cost of borrowing funds, and volatility of the value of the underlying financial instrument. If an option which a Portfolio has written either expires on its stipulated expiration date, or if the Portfolio enters into a closing purchase transaction, the Portfolio realizes a gain (or loss if the cost of a closing purchase transaction exceeds the premium received when the option was written) without regard to any unrealized gain or loss on the underlying security, and the liability related to such options is extinguished. If a call option which a Portfolio has written is exercised, the Portfolio realizes a gain or loss from the sale of the underlying security and the proceeds from such sale are increased by the premium originally received. If a put option which a Portfolio has written is exercised, the amount of the premium originally received reduces the cost of the security which the Portfolio purchased upon exercise of the option. Options may be traded on a national securities exchange or in the OTC market.

&nbsp;&nbsp;&nbsp;&nbsp;Risks to a Portfolio of entering into option contracts include counterparty risk, market risk and, with respect to OTC options, illiquidity risk. Counterparty risk arises from the potential inability of counterparties to meet the terms of their contracts. If the counterparty defaults, a Portfolio's loss will consist of the net amount of contractual payments that the Portfolio has not yet received. Market risk is the risk that there will be an unfavorable change in the value of the underlying securities, and for written options, may result in losses in excess of the amounts shown on the statement of assets and liabilities. There is also the risk a Portfolio may not be able to enter into a closing transaction because of an illiquid market. In addition, unlisted options are not traded on an exchange and may not be as actively traded as listed options, making the valuation of such securities more difficult. An unlisted option also entails a greater risk that the party on the other side of the option transaction may default, which would make it impossible to close out an unlisted option position in some cases, and profits related to the transaction lost thereby.

&nbsp;&nbsp;&nbsp;&nbsp;Option contracts outstanding at the end of the period, if any, are reported on a schedule at the end of each Portfolio's Portfolio of Investments.

&nbsp;&nbsp;&nbsp;&nbsp;**Swap Contracts:** Certain Portfolios may enter into contract for difference, credit default, currency, inflation, interest rate, equity and/or total return swap contracts. Swap contracts are privately negotiated in the OTC market and may be entered into as a bilateral contract or a centrally cleared contract ("centrally cleared swaps"). In a centrally cleared swap, immediately following execution of the swap contract, the swap contract is novated to a central counterparty (the "CCP") and a Portfolio faces the CCP through a broker. Upon entering into a centrally cleared swap, a Portfolio is required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on the size and risk profile of the particular swap. Securities deposited as initial margin are designated on the Portfolio of Investments and cash deposited is recorded on the Statement of Assets and Liabilities as cash collateral on centrally cleared swap contracts. Unlike a bilateral swap contract, for centrally cleared swaps, a Portfolio has no credit exposure to the counterparty as the CCP stands between the Portfolio and the counterparty. Swaps are marked-to-market daily and the changes in value are recorded as an unrealized gain (loss). The daily change in valuation of swap contracts, if any, is recorded as unrealized appreciation (depreciation) on swap contracts. When the swap is terminated, a Portfolio will record a realized gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the Portfolio's basis in the contract, if any. Generally, the basis of the contracts is the premium received or paid. Upfront payments and receipts on swap contracts are amortized on a daily basis. Net periodic payments made or received by a Portfolio are included as part of realized gain (loss).

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#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

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&nbsp;&nbsp;&nbsp;&nbsp;***Contracts for Difference:*** A contract for difference ("CFD") is a privately negotiated over-the-counter derivative contract between two parties, buyer and seller, stipulating that the seller will pay to or receive from the buyer the difference between the nominal value of the underlying instrument at the opening of the contract and that instrument's value at the end of the contract. As an over-the-counter derivative contract, CFDs are not traded on an exchange. A CFD offers exposure to price changes in an underlying security without ownership of such security, typically by providing investors the ability to trade on margin. When entering into a CFD, the Portfolio attempts to predict either that the price of the underlying security will fall (taking a short position) or that the price of the security will rise (taking a long position). CFDs are subject to illiquidity risk because the liquidity of contracts for difference is based on the liquidity of the underlying instrument. CFDs are also subject to the risk that the counterparty to the CFD transaction may be unable or unwilling to make payments or to otherwise honor its financial obligations under the terms of the contract. CFDs, like many other derivative instruments, involve the risk that, if the derivative security declines in value, additional margin would be required to maintain the margin level. The seller may require the Portfolio to deposit additional sums to maintain proper margin coverage, and this may be at short notice. If additional margin is not provided in time, the seller may liquidate the positions at a loss to the Portfolio. As is the case with owning any financial instrument, there is the risk of loss associated with buying a CFD. For example, if the Portfolio buys a long CFD and the underlying security is worth less at the end of the contract, the Portfolio would be required to make a payment to the seller and would suffer a loss.

&nbsp;&nbsp;&nbsp;&nbsp;CFD contracts outstanding at the end of the period, if any, are reported on a schedule at the end of each Portfolio's Portfolio of Investments.

&nbsp;&nbsp;&nbsp;&nbsp;***Credit Default Swap Agreements:*** Credit default swaps are generally contracts in which one party makes periodic fixed-rate payments or a one time premium payment (referred to as the buyer of protection) to another party (the seller of protection) in exchange for the right to receive a specified payment in the event of a default or other credit event for the referenced entity, obligation or index. As a seller of protection on credit default swaps, a Portfolio will generally receive from the buyer of protection a fixed rate of income throughout the term of the swap provided that there is no credit event. As the seller, a Portfolio would effectively add leverage to its portfolio because, in addition to its total net assets, the Portfolio would be subject to investment exposure on the notional amount of the swap. If a Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. As a buyer of protection on credit default swaps, a Portfolio will make periodic payments, similar to an insurance premium and the seller of protection agrees to compensate the Portfolio for future potential losses as a result of a credit event on the reference bond or other asset. A Portfolio effectively transfers the credit event risk of the reference bond or asset from it to the seller of protection. If a Portfolio is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. Recovery values are assumed by market makers considering either industry standard recovery rates or entity specific factors and considerations until a credit event occurs. If a credit event has occurred, the recovery value is determined by a facilitated auction whereby a minimum number of allowable broker bids, together with a specified valuation method, are used to calculate the settlement value.

&nbsp;&nbsp;&nbsp;&nbsp;Credit default swaps on corporate issues or sovereign issues of an emerging market country are contracts in which the buyer of protection makes periodic fixed payments or a one time premium payment to the seller of protection in exchange for the right to receive a specified payment in the event of a default or other credit event. If a credit event occurs and cash settlement is not elected, a variety of other deliverable obligations may be delivered in lieu of the specific referenced obligation. The ability to deliver other obligations may result in a cheapest-to deliver option (the buyer of protection's right to choose the deliverable obligation with the lowest value following a credit event). A Portfolio may use credit default swaps on corporate issues or sovereign issues of an emerging market country to provide a measure of protection against defaults of the issuers (i.e., to reduce credit risk where the Portfolio owns or has exposure to the referenced obligation) or to take a speculative credit position with an active long or short position with respect to the likelihood of a particular issuer's default.

&nbsp;&nbsp;&nbsp;&nbsp;Credit default swaps on asset-backed securities are contracts in which the buyer of protection makes periodic fixed-rate payments or a one time premium payment to the seller of protection in exchange for the right to receive a specified payment in the event of a default or other credit event. Unlike credit default swaps on corporate issues or sovereign issues of an emerging market country, deliverable obligations in most instances would be limited to the specific referenced obligation as performance for asset-backed securities can vary across deals. Prepayments, principal paydowns, and other writedown or loss events on the underlying mortgage loans will reduce the outstanding principal balance of the referenced obligation. These reductions may be temporary or permanent as defined under the terms of the swap agreement and the notional amount for the swap agreement will be adjusted by corresponding amounts. A Portfolio may use credit default swaps on asset-backed securities to provide a measure of protection against defaults of the referenced obligation or to take a speculative credit position with an active long or short position with respect to the likelihood of a particular referenced obligation's default.

&nbsp;&nbsp;&nbsp;&nbsp;Credit default swaps on credit indices are generally contracts in which the buyer of protection makes periodic fixed-rate payments or a one time premium payment to the seller of protection in exchange for the right to receive a specified payment in the event of a write-down, principal shortfall, interest shortfall or default of all or part of the referenced entities comprising the credit index. A credit index is a list of a basket of credit instruments or exposures designed to be representative of some part of the credit market as a whole. These indices are made up of reference credits that are judged by a poll of dealers to be the most liquid entities in the credit default swap market based on the sector of the index. Components of the indices may include, but are not limited to, investment grade securities, high yield securities, asset backed securities, emerging markets, and/or various credit ratings within each sector. Credit indices are traded using credit default swaps with standardized terms including a fixed spread and standard maturity dates. An index credit default swap references all the names in the index, and if there is a default, the credit event is settled based on that name's weight in the index. The composition of the indices changes periodically, usually every six months, and for most indices, each name has an equal weight in the index. A Portfolio may use credit default swaps on credit indices to hedge a portfolio of credit default swaps or bonds which is less expensive than it would be to enter into many credit default swaps to achieve a similar effect. Credit-default swaps on indices are used for protecting investors owning bonds against default, and also to speculate on changes in credit quality.

&nbsp;&nbsp;&nbsp;&nbsp;Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swaps on corporate issues or sovereign issues of an emerging market country as of period end are reported on a schedule at the end of each Portfolio's Portfolio of Investments and serve as an indicator of the current status of the payment / performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. For credit default swaps on asset-based securities and credit indices, the quoted

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

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market prices and resulting values serve as the indicator of the current status of the payment/performance risk. Wider credit spreads and increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. The maximum potential amount of future payments (undiscounted) that a Portfolio as a seller of protection could be required to make under a credit default swap would be an amount equal to the notional amount of the agreement. Notional amounts of all credit default swaps outstanding at the end of the period, for which a Portfolio is the seller of protection, if any, are disclosed on a schedule following each Portfolio's Portfolio of Investments. These potential amounts would be partially offset by any recovery values of the respective referenced obligations, upfront payments received upon entering into the agreement, or net amounts received from the settlement of buy protection credit default swaps entered into by a Portfolio for the same referenced entity or entities.

&nbsp;&nbsp;&nbsp;&nbsp;Credit default swap contracts outstanding at the end of the period, if any, are reported on a schedule at the end of each Portfolio's Portfolio of Investments.

&nbsp;&nbsp;&nbsp;&nbsp;***Currency Swap Agreements:*** Currency swap agreements are typically entered into to manage exposure to foreign currency exchange rate risk, interest rate risk, and/or to obtain exposure to non-U.S. currencies. Currency swaps involve an initial exchange of notional principal amounts in two different currencies, periodic payments of interest denominated in the respective currencies, and a final re-exchange of the notional principal amounts at maturity.

&nbsp;&nbsp;&nbsp;&nbsp;The exchange of currencies at the inception date of the contract takes place at the current spot rate. The net of the notional amount received/delivered, when translated to USD at the trade date, represents an upfront payment made or received. The re-exchange at maturity may take place at the same exchange rate, a specified rate or the then current spot rate. Interest payments, if applicable, are made between the parties based on negotiated rate structure in the two currencies at the inception of the contract. The terms of currency swap contracts may extend for many years. Currency swaps are usually negotiated with commercial and investment banks. Some Currency swaps may not provide for exchanging principal cash flows, but only for exchanging interest cash flows.

&nbsp;&nbsp;&nbsp;&nbsp;Currency swap contracts outstanding at the end of the period, if any, are reported on a schedule at the end of each Portfolio's Portfolio of Investments.

&nbsp;&nbsp;&nbsp;&nbsp;***Equity Swap Agreements:*** Equity swaps are contracts that are typically entered into for the purpose of investing in a security or index without owning or taking physical custody of securities. Total return swaps are contracts that obligate a party to pay or receive interest in exchange for the payment by the other party of the total return generated by a security, a basket of securities, an index or an index component. To the extent the total return of the security or index underlying the transaction exceeds or falls short of the offsetting interest rate obligation, a Portfolio will receive a payment from or make a payment to the counterparty.

&nbsp;&nbsp;&nbsp;&nbsp;The counterparty to an equity swap will typically be a bank, investment banking firm or broker/dealer. Equity swaps may be structured in different ways. The counterparty will generally agree to pay a Portfolio the amount, if any, by which the notional amount of the equity swap contract would have increased in value had it been invested in particular stocks (or an index of stocks), plus the dividends that would have been received on those stocks. In these cases, a Portfolio may agree to pay to the counterparty a floating rate of interest on the notional amount of the equity swap contract plus the amount, if any, by which that notional amount would have decreased in value had it been invested in such stocks.

&nbsp;&nbsp;&nbsp;&nbsp;Therefore, the return to a Portfolio on any equity swap should be the gain or loss on the notional amount plus dividends on the stocks less the interest paid by the Portfolio on the notional amount. In other cases, the counterparty and a Portfolio may agree to pay to the other the difference between the relative investment performances that would have been achieved if the notional amount of the equity swap contract had been invested in different stocks (or indices of stocks).

&nbsp;&nbsp;&nbsp;&nbsp;A Portfolio will generally enter into equity swaps only on a net basis, which means that the two payment streams are netted out, with the Portfolio receiving or paying, as the case may be, only the net amount of the two payments. Payments may be made at the conclusion of an equity swap contract or periodically during its term. Equity swaps normally do not involve the delivery of securities or other underlying assets. Accordingly, the risk of loss with respect to equity swaps is normally limited to the net amount of payments that a Portfolio is contractually obligated to make. If the counterparty to an equity swap defaults, a Portfolio's risk of loss consists of the net discounted amount of payments that the Portfolio is contractually entitled to receive, if any. In addition, the value of some components of an equity swap (such as the dividends on a common stock) may also be sensitive to changes in interest rates.

&nbsp;&nbsp;&nbsp;&nbsp;Equity swap contracts outstanding at the end of the period, if any, are reported on a schedule at the end of each Portfolio's Portfolio of Investments.

&nbsp;&nbsp;&nbsp;&nbsp;***Interest Rate Swap Agreements:*** Interest rate swaps involve the exchange by a Portfolio with another party of their respective commitments to pay or receive interest with respect to the notional amount of principal. Since interest rate swaps are individually negotiated, a Portfolio expects to achieve an acceptable degree of correlation between their respective portfolio investments and their interest rate positions. A Portfolio will enter into interest rate swaps only on a net basis, which means that the two payment streams are netted out, with the Portfolio receiving or paying, as the case may be, only the net amount of the two payments.

&nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps do not involve the delivery of securities, other underlying assets or principal. Accordingly, the risk of loss with respect to interest rate swaps is limited to the net amount of interest payments that a Portfolio is contractually obligated to make. If the other party to an interest rate swap defaults, a Portfolio's risk of loss consists of the net discounted amount of interest payments that the Portfolio is contractually entitled to receive, if any. The use of interest rate swaps is a highly specialized activity which involves investment techniques and risks different from those associated with ordinary Portfolio securities transactions.

&nbsp;&nbsp;&nbsp;&nbsp;Interest rate swap contracts outstanding at the end of the period, if any, are reported on a schedule at the end of each Portfolio's Portfolio of Investments.

&nbsp;&nbsp;&nbsp;&nbsp;***Risks of Entering into Swap Agreements:*** Risks to a Portfolio of entering into swaps, include credit risk, market risk, counterparty risk, liquidity risk and documentation risk. By entering into swap agreements, a Portfolio may be exposed to risk of potential loss due to unfavorable changes in interest rates, the price of the underlying security or index, or the underlying referenced asset's perceived or actual credit, that the counterparty may default on its obligation to perform or the possibility that there is no liquid market for these agreements. There is also the risk that the parties may disagree as to the meaning of contractual terms in the swap agreement. In addition, to the extent that a subadviser does not accurately analyze and predict the underlying economic factors influencing the value of the swap, a Portfolio may suffer a loss, which may be in excess of the amount reflected on the statement of assets and liabilities.

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

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&nbsp;&nbsp;&nbsp;&nbsp;**Master Agreements:** Certain Portfolios that hold derivative instruments and other financial instruments may be a party to ISDA (International Swaps and Derivatives Association, Inc.) Master Agreements or similar agreements ("Master Agreements") with certain counterparties that govern such instruments. Master Agreements may contain provisions regarding, among other things, the parties' general obligations, representations, agreements, collateral requirements, events of default and early termination. Collateral can be in the form of cash or securities as agreed to by a Portfolio and applicable counterparty. Collateral requirements are generally determined based on a Portfolio's net position with each counterparty. Master Agreements may also include certain provisions that require a Portfolio to post additional collateral upon the occurrence of certain events, such as when a Portfolio's net assets fall below a specified level. In addition, Master Agreements typically specify certain standard termination events, such as failure of a party to pay or deliver, credit support defaults and other events of default. Termination events applicable to a Portfolio may also occur upon a decline in a Portfolio's net assets below a specified level over a certain period of time. Additional termination events applicable to counterparties may occur upon a decline in a counterparty's long-term and short-term credit ratings below a specified level, or upon a decline in the ratings of a counterparty's credit support provider. Upon the occurrence of a termination event, the other party may elect to terminate early and cause settlement of all instruments outstanding pursuant to a particular Master Agreement, including the payment of any losses and costs resulting from such early termination, as reasonably determined by the terminating party. Any decision by one or more of a Portfolio's counterparties to elect early termination could cause the Portfolio to accelerate the payment of liabilities, which settlement amounts could be in excess of the amount of assets that are already posted as collateral. Typically, the Master Agreement will permit a single net payment in the event of default. Note, however, that bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy, insolvency or other events. As a result, the early termination with respect to derivative instruments subject to Master Agreements that are in a net liability position could be material to a Portfolio's financial statements. The Portfolios do not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Statement of Assets and Liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;The following tables represent the value of derivatives held as of July 31, 2025, by their primary underlying risk exposure and the respective location on the Statement of Assets and Liabilities and the effect of derivatives on the Statement of Operations for the six months ended July 31, 2025. For a detailed presentation of derivatives held as of July 31, 2025, please refer to the schedule at the end of each Portfolio's Portfolio of Investments.

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Asset Derivatives** | &nbsp;&nbsp;**Asset Derivatives** | &nbsp;&nbsp;**Asset Derivatives** | &nbsp;&nbsp;**Asset Derivatives** | &nbsp;&nbsp;**Liability Derivatives** | &nbsp;&nbsp;**Liability Derivatives** | &nbsp;&nbsp;**Liability Derivatives** | &nbsp;&nbsp;**Liability Derivatives** |
|  | &nbsp;&nbsp;**Futures<br> Contracts(1)** | &nbsp;&nbsp;**Swap<br> Contracts(2)** | &nbsp;&nbsp;**Options<br> Purchased(3)** | &nbsp;&nbsp;**Forward<br> Foreign<br> Currency<br> Contracts(4)** | &nbsp;&nbsp;**Futures<br> Contracts(1)** | &nbsp;&nbsp;**Swap<br> Contracts(2)** | &nbsp;&nbsp;**Options<br> Written(5)** | &nbsp;&nbsp;**Forward<br> Foreign<br> Currency<br> Contracts(6)** |
| **Portfolio** | &nbsp;&nbsp;**Interest Rate Contracts** | &nbsp;&nbsp;**Interest Rate Contracts** | &nbsp;&nbsp;**Interest Rate Contracts** | &nbsp;&nbsp;**Interest Rate Contracts** | &nbsp;&nbsp;**Interest Rate Contracts** | &nbsp;&nbsp;**Interest Rate Contracts** | &nbsp;&nbsp;**Interest Rate Contracts** | &nbsp;&nbsp;**Interest Rate Contracts** |
| SA Federated Hermes Corporate Bond<br>| &nbsp;&nbsp;$216270 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| SA Goldman Sachs Multi-Asset Insights<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Diversified Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;774159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;14045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan MFS Core Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;2006764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;561985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA MFS Total Return<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;14488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA PIMCO Global Bond Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;1180569 | &nbsp;&nbsp;&nbsp;2564966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;375799 | &nbsp;&nbsp;&nbsp;2582670 | &nbsp;&nbsp;&nbsp;20291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Schroders VCP Global Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;396198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA T. Rowe Price Allocation Moderately Aggressive<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA T. Rowe Price VCP Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;972605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Index Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;**Equity Contracts** | &nbsp;&nbsp;**Equity Contracts** | &nbsp;&nbsp;**Equity Contracts** | &nbsp;&nbsp;**Equity Contracts** | &nbsp;&nbsp;**Equity Contracts** | &nbsp;&nbsp;**Equity Contracts** | &nbsp;&nbsp;**Equity Contracts** | &nbsp;&nbsp;**Equity Contracts** |
| SA Emerging Markets Equity Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Goldman Sachs Multi-Asset Insights<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA International Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;13089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Diversified Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;353060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Emerging Markets<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;17456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Large Cap Growth Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Large Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;87750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Large Cap Value Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Mid Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;41735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Schroders VCP Global Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;3466330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;662947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Small Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;17397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA T. Rowe Price VCP Balanced<br>| &nbsp;&nbsp;&nbsp;10513378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;4610495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;857415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Dynamic Allocation<br>| &nbsp;&nbsp;&nbsp;42525433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;77626056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Dynamic Strategy<br>| &nbsp;&nbsp;&nbsp;&nbsp;2256641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;42060271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Index Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;4489612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1123611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;24773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;**Credit Contracts** | &nbsp;&nbsp;**Credit Contracts** | &nbsp;&nbsp;**Credit Contracts** | &nbsp;&nbsp;**Credit Contracts** | &nbsp;&nbsp;**Credit Contracts** | &nbsp;&nbsp;**Credit Contracts** | &nbsp;&nbsp;**Credit Contracts** | &nbsp;&nbsp;**Credit Contracts** |
| SA Goldman Sachs Multi-Asset Insights<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA PIMCO Global Bond Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA T. Rowe Price Allocation Moderately Aggressive<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA T. Rowe Price VCP Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;**Foreign Exchange Contracts** | &nbsp;&nbsp;**Foreign Exchange Contracts** | &nbsp;&nbsp;**Foreign Exchange Contracts** | &nbsp;&nbsp;**Foreign Exchange Contracts** | &nbsp;&nbsp;**Foreign Exchange Contracts** | &nbsp;&nbsp;**Foreign Exchange Contracts** | &nbsp;&nbsp;**Foreign Exchange Contracts** | &nbsp;&nbsp;**Foreign Exchange Contracts** |
| SA JPMorgan Diversified Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68458 | &nbsp;&nbsp;&nbsp;102990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197249 |
| SA PIMCO Global Bond Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84784 | &nbsp;&nbsp;&nbsp;3347005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;15507 | &nbsp;&nbsp;&nbsp;2600391 |
| SA Putnam International Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1280731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1251711 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Asset Derivatives** | &nbsp;&nbsp;**Asset Derivatives** | &nbsp;&nbsp;**Asset Derivatives** | &nbsp;&nbsp;**Asset Derivatives** | &nbsp;&nbsp;**Liability Derivatives** | &nbsp;&nbsp;**Liability Derivatives** | &nbsp;&nbsp;**Liability Derivatives** | &nbsp;&nbsp;**Liability Derivatives** |
|  | &nbsp;&nbsp;**Futures<br> Contracts(1)** | &nbsp;&nbsp;**Swap<br> Contracts(2)** | &nbsp;&nbsp;**Options<br> Purchased(3)** | &nbsp;&nbsp;**Forward<br> Foreign<br> Currency<br> Contracts(4)** | &nbsp;&nbsp;**Futures<br> Contracts(1)** | &nbsp;&nbsp;**Swap<br> Contracts(2)** | &nbsp;&nbsp;**Options<br> Written(5)** | &nbsp;&nbsp;**Forward<br> Foreign<br> Currency<br> Contracts(6)** |
| **Portfolio** | &nbsp;&nbsp;**Foreign Exchange Contracts** | &nbsp;&nbsp;**Foreign Exchange Contracts** | &nbsp;&nbsp;**Foreign Exchange Contracts** | &nbsp;&nbsp;**Foreign Exchange Contracts** | &nbsp;&nbsp;**Foreign Exchange Contracts** | &nbsp;&nbsp;**Foreign Exchange Contracts** | &nbsp;&nbsp;**Foreign Exchange Contracts** | &nbsp;&nbsp;**Foreign Exchange Contracts** |
| SA Schroders VCP Global Allocation<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$523781 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$507013 |

---

(1) Amount represents cumulative appreciation/depreciation on futures contracts as disclosed in the Portfolio of Investments. Only the current day's variation margin is separately disclosed within the Statements of Assets and Liabilities.

(2) For centrally cleared swaps, the amount represents cumulative appreciation/depreciation as disclosed in the Portfolio of Investments. Only the current day's variation margin is separately disclosed within the Statements of Assets and Liabilities. For OTC swaps, the amount represents unrealized appreciation/depreciation on over-the-counter swap contracts as disclosed within the Statements of Assets and Liabilities.

(3) Investments at value (unaffiliated)

(4) Unrealized appreciation on forward foreign currency contracts

(5) Call and put options written, at value

(6) Unrealized depreciation on forward foreign currency contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Realized Gain (Loss) on Derivatives Recognized in Statement of Operations** | &nbsp;&nbsp;**Realized Gain (Loss) on Derivatives Recognized in Statement of Operations** | &nbsp;&nbsp;**Realized Gain (Loss) on Derivatives Recognized in Statement of Operations** | &nbsp;&nbsp;**Realized Gain (Loss) on Derivatives Recognized in Statement of Operations** | &nbsp;&nbsp;**Realized Gain (Loss) on Derivatives Recognized in Statement of Operations** |
|  | &nbsp;&nbsp;**Futures<br> Contracts(1)** | &nbsp;&nbsp;**Swap<br> Contracts(2)** | &nbsp;&nbsp;**Written<br> Options(3)** | &nbsp;&nbsp;**Purchased<br> Options(4)** | &nbsp;&nbsp;**Forward<br> Foreign<br> Currency<br> Contracts(5)** |
| **Portfolio** | &nbsp;&nbsp;**Interest Rate Contracts** | &nbsp;&nbsp;**Interest Rate Contracts** | &nbsp;&nbsp;**Interest Rate Contracts** | &nbsp;&nbsp;**Interest Rate Contracts** | &nbsp;&nbsp;**Interest Rate Contracts** |
| SA Federated Hermes Corporate Bond<br>| &nbsp;&nbsp;$(333277) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| SA Franklin Tactical Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Goldman Sachs Multi-Asset Insights<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(61080) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Diversified Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(972162) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan MFS Core Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2654915) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA MFS Total Return<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72792) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA PIMCO Global Bond Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2030098 | &nbsp;&nbsp;&nbsp;879945 | &nbsp;&nbsp;&nbsp;207842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45238) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Schroders VCP Global Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA T. Rowe Price Allocation Moderately Aggressive<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA T. Rowe Price VCP Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1635090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Index Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(980520) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;**Equity Contracts** | &nbsp;&nbsp;**Equity Contracts** | &nbsp;&nbsp;**Equity Contracts** | &nbsp;&nbsp;**Equity Contracts** | &nbsp;&nbsp;**Equity Contracts** |
| SA Emerging Markets Equity Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Franklin Tactical Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Goldman Sachs Multi-Asset Insights<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA International Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5590578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Diversified Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3837886) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Emerging Markets<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Large Cap Growth Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Large Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2464197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Large Cap Value Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Mid Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2676388) | &nbsp;&nbsp;&nbsp;114613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Schroders VCP Global Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;(14663652) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;4257843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Small Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1165671) | &nbsp;&nbsp;&nbsp;405973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA T. Rowe Price VCP Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2937023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(4331707) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Dynamic Allocation<br>| &nbsp;&nbsp;&nbsp;(161910131) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;37580208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Dynamic Strategy<br>| &nbsp;&nbsp;&nbsp;&nbsp;(97405545) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;31224383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Index Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;(13972147) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(1337403) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;**Credit Contracts** | &nbsp;&nbsp;**Credit Contracts** | &nbsp;&nbsp;**Credit Contracts** | &nbsp;&nbsp;**Credit Contracts** | &nbsp;&nbsp;**Credit Contracts** |
| SA Goldman Sachs Multi-Asset Insights<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;21227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA PIMCO Global Bond Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;300544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA T. Rowe Price Allocation Moderately Aggressive<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA T. Rowe Price VCP Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(150) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;**Foreign Forward Exchange Contracts** | &nbsp;&nbsp;**Foreign Forward Exchange Contracts** | &nbsp;&nbsp;**Foreign Forward Exchange Contracts** | &nbsp;&nbsp;**Foreign Forward Exchange Contracts** | &nbsp;&nbsp;**Foreign Forward Exchange Contracts** |
| SA JPMorgan Diversified Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(321785) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98232 |
| SA PIMCO Global Bond Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;50861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41302 | &nbsp;&nbsp;&nbsp;(10127321) |
| SA Putnam International Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421059 |
| SA Schroders VCP Global Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(824057) |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Statement of Operations** | &nbsp;&nbsp;**Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Statement of Operations** | &nbsp;&nbsp;**Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Statement of Operations** | &nbsp;&nbsp;**Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Statement of Operations** | &nbsp;&nbsp;**Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Statement of Operations** |
|  | &nbsp;&nbsp;**Futures<br> Contracts(6)** | &nbsp;&nbsp;**Swap<br> Contracts(7)** | &nbsp;&nbsp;**Written<br> Options(8)** | &nbsp;&nbsp;**Purchased<br> Options(9)** | &nbsp;&nbsp;**Forward<br> Foreign<br> Currency<br> Contracts(10)** |
| **Portfolio** | &nbsp;&nbsp;**Interest Rate Contracts** | &nbsp;&nbsp;**Interest Rate Contracts** | &nbsp;&nbsp;**Interest Rate Contracts** | &nbsp;&nbsp;**Interest Rate Contracts** | &nbsp;&nbsp;**Interest Rate Contracts** |
| SA Federated Hermes Corporate Bond<br>| &nbsp;&nbsp;$402088 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| SA Franklin Tactical Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35520) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Goldman Sachs Multi-Asset Insights<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Diversified Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;1436103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan MFS Core Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;2623860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA MFS Total Return<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA PIMCO Global Bond Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(926681) | &nbsp;&nbsp;&nbsp;&nbsp;872174 | &nbsp;&nbsp;&nbsp;22726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18257) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Schroders VCP Global Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(649824) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA T. Rowe Price Allocation Moderately Aggressive<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA T. Rowe Price VCP Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;(2582714) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Index Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(431758) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;**Equity Contracts** | &nbsp;&nbsp;**Equity Contracts** | &nbsp;&nbsp;**Equity Contracts** | &nbsp;&nbsp;**Equity Contracts** | &nbsp;&nbsp;**Equity Contracts** |
| SA Emerging Markets Equity Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22042) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Franklin Tactical Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Goldman Sachs Multi-Asset Insights<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA International Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;(1806865) | &nbsp;&nbsp;&nbsp;&nbsp;(18938) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Diversified Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(212759) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Emerging Markets<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(216338) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Large Cap Growth Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Large Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;(1427145) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Large Cap Value Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Mid Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(160378) | &nbsp;&nbsp;&nbsp;(169865) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Schroders VCP Global Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;2470610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Small Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(39460) | &nbsp;&nbsp;&nbsp;&nbsp;118869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA T. Rowe Price VCP Balanced<br>| &nbsp;&nbsp;&nbsp;10775968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(4295855) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Dynamic Allocation<br>| &nbsp;&nbsp;&nbsp;48437531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(11733850) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Dynamic Strategy<br>| &nbsp;&nbsp;&nbsp;&nbsp;1293616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(4819256) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Index Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;6584635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(587845) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;**Credit Contracts** | &nbsp;&nbsp;**Credit Contracts** | &nbsp;&nbsp;**Credit Contracts** | &nbsp;&nbsp;**Credit Contracts** | &nbsp;&nbsp;**Credit Contracts** |
| SA Goldman Sachs Multi-Asset Insights<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA PIMCO Global Bond Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;454209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA T. Rowe Price Allocation Moderately Aggressive<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2032) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA T. Rowe Price VCP Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(11008) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | &nbsp;&nbsp;**Foreign Forward Exchange Contracts** | &nbsp;&nbsp;**Foreign Forward Exchange Contracts** | &nbsp;&nbsp;**Foreign Forward Exchange Contracts** | &nbsp;&nbsp;**Foreign Forward Exchange Contracts** | &nbsp;&nbsp;**Foreign Forward Exchange Contracts** |
| SA JPMorgan Diversified Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(289333) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(116264) |
| SA PIMCO Global Bond Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35617 | &nbsp;&nbsp;&nbsp;&nbsp;(2348) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22075 | &nbsp;&nbsp;&nbsp;&nbsp;790974 |
| SA Putnam International Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;705488 |
| SA Schroders VCP Global Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;177427 |

---

(1) Net realized gain (loss) on futures contracts

(2) Net realized gain (loss) on swap contracts

(3) Net realized gain (loss) on written options contracts

(4) Net realized gain (loss) on investments

(5) Net realized gain (loss) on forward contracts

(6) Change in unrealized appreciation (depreciation) on futures contracts

(7) Change in unrealized appreciation (depreciation) on swap contracts

(8) Change in unrealized appreciation (depreciation) on written options contracts

(9) Change in unrealized appreciation (depreciation) on investments

(10) Change in unrealized appreciation (depreciation) on forward contracts

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

&nbsp;&nbsp;&nbsp;&nbsp;The following table represents the average monthly balances of derivatives held during the six months ended July 31, 2025.

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Average Amount Outstanding During the Period** | **Average Amount Outstanding During the Period** | **Average Amount Outstanding During the Period** | **Average Amount Outstanding During the Period** | **Average Amount Outstanding During the Period** | **Average Amount Outstanding During the Period** | **Average Amount Outstanding During the Period** | **Average Amount Outstanding During the Period** | **Average Amount Outstanding During the Period** | **Average Amount Outstanding During the Period** |
| **Portfolio** | **Futures<br> Contracts(1)** | **Forward<br> Foreign<br> Currency<br> Contracts(1)** | **Purchased<br> Call Options<br> Contracts(2)** | **Purchased<br> Put Options<br> Contracts(2)** | **Interest<br> Rate Swap<br> Contracts(1)** | **Credit<br> Default<br> Swap<br> Contracts(1)** | **Equity<br> Swap<br> Contracts(2)** | **Written<br> Call Option<br> Contracts(2)** | **Written<br> Put Option<br> Contracts(2)** | **Currency<br> Swap<br> Contracts(1)** |
| SA Emerging Markets Equity Index<br>| $1405188 | $— | $— | $— | $— | $— | $— | $— | $— | $— |
| SA Federated Hermes Corporate Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12838099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Franklin Tactical Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4152711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Goldman Sachs Multi-Asset Insights<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15881288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6238333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA International Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20862078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;175223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Diversified Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;146043462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9530439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Emerging Markets<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10875854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan MFS Core Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;236573101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Large Cap Growth Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1777099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Large Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16110536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Large Cap Value Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1464914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA MFS Total Return<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18687630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Mid Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5934122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1801477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA PIMCO Global Bond Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;249463144 | &nbsp;&nbsp;&nbsp;334349380 | &nbsp;&nbsp;&nbsp;4581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54075 | &nbsp;&nbsp;&nbsp;561971727 | &nbsp;&nbsp;&nbsp;286253210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;17073 | &nbsp;&nbsp;&nbsp;23765 | &nbsp;&nbsp;&nbsp;31873622 |
| SA Putnam International Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;142967469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Schroders VCP Global Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;194654359 | &nbsp;&nbsp;&nbsp;&nbsp;96963704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Small Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2493233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;2023976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA T. Rowe Price Allocation Moderately Aggressive<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7455607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5166667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA T. Rowe Price VCP Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;362702436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;4681725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;10400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Dynamic Allocation<br>| &nbsp;&nbsp;&nbsp;1137108125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;71236944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Dynamic Strategy<br>| &nbsp;&nbsp;&nbsp;&nbsp;304774583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;41048743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Index Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;152509779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1496841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

(1) Amounts represent notional amounts in US dollars.

(2) Amounts represent values in US dollars.

&nbsp;&nbsp;&nbsp;&nbsp;The following table represents the Portfolio's objectives for using derivative instruments for the six months ended July 31, 2025:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Objectives for Using Derivatives** | &nbsp;&nbsp;**Objectives for Using Derivatives** | &nbsp;&nbsp;**Objectives for Using Derivatives** | &nbsp;&nbsp;**Objectives for Using Derivatives** | &nbsp;&nbsp;**Objectives for Using Derivatives** | &nbsp;&nbsp;**Objectives for Using Derivatives** | &nbsp;&nbsp;**Objectives for Using Derivatives** |
| **Portfolio** | &nbsp;&nbsp;**Futures<br> Contracts** | &nbsp;&nbsp;**Forward<br> Foreign<br> Currency<br> Contracts** | &nbsp;&nbsp;**Options<br> Contracts** | &nbsp;&nbsp;**Interest<br> Rate Swap<br> Contracts** | &nbsp;&nbsp;**Credit<br> Default Swap<br> Contracts** | &nbsp;&nbsp;**Currency<br> Swap<br> Contracts** | &nbsp;&nbsp;**Equity<br> Swap<br> Contracts** |
| SA Emerging Markets Equity Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;- |
| SA Federated Hermes Corporate Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;- |
| SA Franklin Tactical Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;- |
| SA Goldman Sachs Multi-Asset Insights<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;- |
| SA International Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp; 5 |
| SA JPMorgan Diversified Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2, 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;- |
| SA JPMorgan Emerging Markets<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;- |
| SA JPMorgan MFS Core Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;- |
| SA Large Cap Growth Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;- |
| SA Large Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;- |
| SA Large Cap Value Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;- |
| SA MFS Total Return<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;- |
| SA Mid Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp; 5 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Objectives for Using Derivatives** | &nbsp;&nbsp;**Objectives for Using Derivatives** | &nbsp;&nbsp;**Objectives for Using Derivatives** | &nbsp;&nbsp;**Objectives for Using Derivatives** | &nbsp;&nbsp;**Objectives for Using Derivatives** | &nbsp;&nbsp;**Objectives for Using Derivatives** | &nbsp;&nbsp;**Objectives for Using Derivatives** |
| **Portfolio** | &nbsp;&nbsp;**Futures<br> Contracts** | &nbsp;&nbsp;**Forward<br> Foreign<br> Currency<br> Contracts** | &nbsp;&nbsp;**Options<br> Contracts** | &nbsp;&nbsp;**Interest<br> Rate Swap<br> Contracts** | &nbsp;&nbsp;**Credit<br> Default Swap<br> Contracts** | &nbsp;&nbsp;**Currency<br> Swap<br> Contracts** | &nbsp;&nbsp;**Equity<br> Swap<br> Contracts** |
| SA PIMCO Global Bond Opportunities<br>| &nbsp;&nbsp;25, 6, 7 | &nbsp;&nbsp;1, 6, 7 | &nbsp;&nbsp;25, 6, 7 | &nbsp;&nbsp;25, 6, 7 | &nbsp;&nbsp;3, 5, 6 | &nbsp;&nbsp;1, 6, 7 | &nbsp;&nbsp;&nbsp;&nbsp;- |
| SA PIMCO RAE International Value …<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;- |
| SA Putnam International Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;- |
| SA Schroders VCP Global Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2, 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5, 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;3, 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;- |
| SA Small Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp; 5 |
| SA T. Rowe Price Moderately Aggressive<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;- |
| SA T. Rowe Price VCP Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;2, 5, 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5, 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;- |
| SA VCP Dynamic Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5, 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5, 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;- |
| SA VCP Dynamic Strategy<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5, 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5, 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;- |
| SA VCP Index Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5, 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5, 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;- |

---

------

(1) To manage foreign currency exchange rate risk.

(2) To manage interest rate risk and the duration of the portfolio.

(3) To manage credit risk.

(4) To manage against or gain exposure to certain securities and/or sectors.

(5) To manage exposures in certain securities markets.

(6) To manage portfolio risk.

(7) To manage interest rate or foreign currency exchange rate risk, or gain exposures to foreign currencies.

&nbsp;&nbsp;&nbsp;&nbsp;The following tables set forth the Portfolios' derivative assets and liabilities by counterparty, net of amounts available for offset under Master Agreements and net of the related collateral pledged (received) as of July 31, 2025. The repurchase agreements held by the Portfolios as of July 31, 2025, are also subject to Master Agreements but are not included in the following tables. See the Portfolio of Investments and the Notes to the Financial Statements for more information about the Portfolios' holdings in repurchase agreements.

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SA International Index Portfolio** | **SA International Index Portfolio** | **SA International Index Portfolio** | **SA International Index Portfolio** | **SA International Index Portfolio** | **SA International Index Portfolio** | **SA International Index Portfolio** | **SA International Index Portfolio** |  |  |  |
|  | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** |  |  |  |
| **Counterparty** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Purchased** | **Total** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Written** | **Total** | **Net<br> Derivative<br> Assets<br> (Liabilities)** | **Collateral<br> Pledged/<br> (Received)(2)** | **Net<br> Amount(3)** |
| BNP Paribas SA<br>| $— | $— | $— | $— | $— | $71 | $— | $71 | $(71) | $— | $(71) |
| Goldman Sachs International<br>| &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;18867 | &nbsp;&nbsp;— | &nbsp;&nbsp;18867 | &nbsp;&nbsp;(18867) | &nbsp;&nbsp;— | &nbsp;&nbsp;(18867) |
| **Total<br>**  | $— | $— | $— | $— | $— | $18938 | $— | $18938 | $(18938) | $— | $(18938) |

---

(1) Gross amounts of recognized assets and liabilities not offset in the Statement of Assets and Liabilities.

(2) For each respective counterparty, collateral pledged or (received) is limited to an amount not to exceed 100% of the derivative asset/liability in the table above.

(3) Net amount represents the net amount due (to)/from counterparty in the event of a default based on the contractual set-off rights under the agreement.

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SA JPMorgan Diversified Balanced Portfolio** | **SA JPMorgan Diversified Balanced Portfolio** | **SA JPMorgan Diversified Balanced Portfolio** | **SA JPMorgan Diversified Balanced Portfolio** | **SA JPMorgan Diversified Balanced Portfolio** | **SA JPMorgan Diversified Balanced Portfolio** | **SA JPMorgan Diversified Balanced Portfolio** | **SA JPMorgan Diversified Balanced Portfolio** |  |  |  |
|  | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** |  |  |  |
| **Counterparty** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Purchased** | **Total** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Written** | **Total** | **Net<br> Derivative<br> Assets<br> (Liabilities)** | **Collateral<br> Pledged/<br> (Received)(2)** | **Net<br> Amount(3)** |
| Barclays Bank PLC<br>| $24608 | $— | $— | $24608 | $— | $— | $— | $— | $24608 | $— | $24608 |
| BNP Paribas SA<br>| &nbsp;&nbsp;23542 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;23542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;23542 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;23542 |
| Citibank, N.A.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;15940 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;15940 | &nbsp;&nbsp;&nbsp;&nbsp;(15940) | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(15940) |
| HSBC Bank PLC<br>| &nbsp;&nbsp;17841 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;17841 | &nbsp;&nbsp;147210 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;147210 | &nbsp;&nbsp;(129369) | &nbsp;&nbsp;— | &nbsp;&nbsp;(129369) |
| Morgan Stanley & Co. International PLC<br>| &nbsp;&nbsp;&nbsp;&nbsp;2467 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2467 | &nbsp;&nbsp;&nbsp;&nbsp;34099 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;34099 | &nbsp;&nbsp;&nbsp;&nbsp;(31632) | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(31632) |
| **Total<br>**  | $68458 | $— | $— | $68458 | $197249 | $— | $— | $197249 | $(128791) | $— | $(128791) |

---

(1) Gross amounts of recognized assets and liabilities not offset in the Statement of Assets and Liabilities.

(2) For each respective counterparty, collateral pledged or (received) is limited to an amount not to exceed 100% of the derivative asset/liability in the table above.

(3) Net amount represents the net amount due (to)/from counterparty in the event of a default based on the contractual set-off rights under the agreement.

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SA Mid Cap Index Portfolio** | **SA Mid Cap Index Portfolio** | **SA Mid Cap Index Portfolio** | **SA Mid Cap Index Portfolio** | **SA Mid Cap Index Portfolio** | **SA Mid Cap Index Portfolio** | **SA Mid Cap Index Portfolio** | **SA Mid Cap Index Portfolio** |  |  |  |
|  | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** |  |  |  |
| **Counterparty** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Purchased** | **Total** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Written** | **Total** | **Net<br> Derivative<br> Assets<br> (Liabilities)** | **Collateral<br> Pledged/<br> (Received)(2)** | **Net<br> Amount(3)** |
| BNP Paribas<br>| $— | $5040 | $— | $5040 | $— | $164 | $— | $164 | $4876 | $(4876) | $— |
| HSBC Holdings<br>| &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;174741 | &nbsp;&nbsp;— | &nbsp;&nbsp;174741 | &nbsp;&nbsp;(174741) | &nbsp;&nbsp;174741 | &nbsp;&nbsp;— |
| **Total<br>**  | $— | $5040 | $— | $5040 | $— | $174905 | $— | $174905 | $(169865) | $169865 | $— |

---

(1) Gross amounts of recognized assets and liabilities not offset in the Statement of Assets and Liabilities.

(2) For each respective counterparty, collateral pledged or (received) is limited to an amount not to exceed 100% of the derivative asset/liability in the table above.

(3) Net amount represents the net amount due (to)/from counterparty in the event of a default based on the contractual set-off rights under the agreement.

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SA PIMCO Global Bond Opportunities Portfolio** | **SA PIMCO Global Bond Opportunities Portfolio** | **SA PIMCO Global Bond Opportunities Portfolio** | **SA PIMCO Global Bond Opportunities Portfolio** | **SA PIMCO Global Bond Opportunities Portfolio** | **SA PIMCO Global Bond Opportunities Portfolio** | **SA PIMCO Global Bond Opportunities Portfolio** | **SA PIMCO Global Bond Opportunities Portfolio** |  |  |  |
|  | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** |  |  |  |
| **Counterparty** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Purchased** | **Total** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Written** | **Total** | **Net<br> Derivative<br> Assets<br> (Liabilities)** | **Collateral<br> Pledged/<br> (Received)(2)** | **Net<br> Amount(3)** |
| Bank of America, N.A.<br>| $666546 | $— | $20178 | $686724 | $850420 | $— | $17125 | $867545 | $(180821) | $180821 | $— |
| Goldman Sachs Bank USA<br>| &nbsp;&nbsp;2680459 | &nbsp;&nbsp;14126 | &nbsp;&nbsp;64610 | &nbsp;&nbsp;2759195 | &nbsp;&nbsp;1749971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;7657 | &nbsp;&nbsp;1757628 | &nbsp;&nbsp;1001567 | &nbsp;&nbsp;(710000) | &nbsp;&nbsp;291567 |
| Goldman Sachs International<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;52368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;61441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9073) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(9073) |
| **Total<br>**  | $3347005 | &nbsp;&nbsp;66494 | $84788 | $3498287 | $2600391 | &nbsp;&nbsp;61441 | $24782 | $2686614 | $811673 | $(529179) | $282494 |

---

(1) Gross amounts of recognized assets and liabilities not offset in the Statement of Assets and Liabilities.

(2) For each respective counterparty, collateral pledged or (received) is limited to an amount not to exceed 100% of the derivative asset/liability in the table above.

(3) Net amount represents the net amount due (to)/from counterparty in the event of a default based on the contractual set-off rights under the agreement.

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SA Putnam International Value Portfolio** | **SA Putnam International Value Portfolio** | **SA Putnam International Value Portfolio** | **SA Putnam International Value Portfolio** | **SA Putnam International Value Portfolio** | **SA Putnam International Value Portfolio** | **SA Putnam International Value Portfolio** | **SA Putnam International Value Portfolio** |  |  |  |
|  | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** |  |  |  |
| **Counterparty** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Purchased** | **Total** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Written** | **Total** | **Net<br> Derivative<br> Assets<br> (Liabilities)** | **Collateral<br> Pledged/<br> (Received)(2)** | **Net<br> Amount(3)** |
| Bank of America, N.A.<br>| $89889 | $— | $— | $89889 | $81442 | $— | $— | $81442 | $8447 | $— | $8447 |
| Barclays Bank PLC<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56506 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44024 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44024 | &nbsp;&nbsp;&nbsp;&nbsp;12482 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;12482 |
| Citibank, N.A.<br>| &nbsp;&nbsp;&nbsp;&nbsp;111199 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;111199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8778 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8778 | &nbsp;&nbsp;&nbsp;102421 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;102421 |
| Goldman Sachs International<br>| &nbsp;&nbsp;&nbsp;&nbsp;153953 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;153953 | &nbsp;&nbsp;&nbsp;&nbsp;117873 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;117873 | &nbsp;&nbsp;&nbsp;&nbsp;36080 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;36080 |
| HSBC Bank PLC<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41553 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41553 | &nbsp;&nbsp;&nbsp;&nbsp;391546 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;391546 | &nbsp;&nbsp;(349993) | &nbsp;&nbsp;— | &nbsp;&nbsp;(349993) |
| JPMorgan Chase Bank, N.A.<br>| &nbsp;&nbsp;&nbsp;&nbsp;120629 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;120629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40344 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40344 | &nbsp;&nbsp;&nbsp;&nbsp;80285 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;80285 |
| Morgan Stanley & Co. International PLC<br>| &nbsp;&nbsp;&nbsp;&nbsp;370649 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;370649 | &nbsp;&nbsp;&nbsp;&nbsp;147835 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;147835 | &nbsp;&nbsp;&nbsp;222814 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;222814 |
| State Street Bank & Trust Company<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37773 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37773 | &nbsp;&nbsp;&nbsp;&nbsp;147462 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;147462 | &nbsp;&nbsp;(109689) | &nbsp;&nbsp;— | &nbsp;&nbsp;(109689) |
| Toronto Dominion Bank<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21183 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21183 | &nbsp;&nbsp;&nbsp;&nbsp;179289 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;179289 | &nbsp;&nbsp;(158106) | &nbsp;&nbsp;— | &nbsp;&nbsp;(158106) |
| UBS AG<br>| &nbsp;&nbsp;&nbsp;&nbsp;225879 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;225879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5386 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5386 | &nbsp;&nbsp;&nbsp;220493 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;220493 |
| Westpac Banking Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51518 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87732 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87732 | &nbsp;&nbsp;&nbsp;&nbsp;(36214) | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(36214) |
| **Total<br>**  | $1280731 | $— | $— | $1280731 | $1251711 | $— | $— | $1251711 | $29020 | $— | $29020 |

---

(1) Gross amounts of recognized assets and liabilities not offset in the Statement of Assets and Liabilities.

(2) For each respective counterparty, collateral pledged or (received) is limited to an amount not to exceed 100% of the derivative asset/liability in the table above.

(3) Net amount represents the net amount due (to)/from counterparty in the event of a default based on the contractual set-off rights under the agreement.

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SA Schroders VCP Global Allocation Portfolio** | **SA Schroders VCP Global Allocation Portfolio** | **SA Schroders VCP Global Allocation Portfolio** | **SA Schroders VCP Global Allocation Portfolio** | **SA Schroders VCP Global Allocation Portfolio** | **SA Schroders VCP Global Allocation Portfolio** | **SA Schroders VCP Global Allocation Portfolio** | **SA Schroders VCP Global Allocation Portfolio** |  |  |  |
|  | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** |  |  |  |
| **Counterparty** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Purchased** | **Total** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Written** | **Total** | **Net<br> Derivative<br> Assets<br> (Liabilities)** | **Collateral<br> Pledged/<br> (Received)(2)** | **Net<br> Amount(3)** |
| Bank of America, N.A.<br>| $79701 | $— | $— | $79701 | $143656 | $— | $— | $143656 | $(63955) | $— | $(63955) |
| Barclays Bank PLC<br>| &nbsp;&nbsp;215071 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;215071 | &nbsp;&nbsp;&nbsp;&nbsp;69490 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;69490 | &nbsp;&nbsp;&nbsp;145581 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;145581 |
| Citibank, N.A.<br>| &nbsp;&nbsp;&nbsp;&nbsp;34719 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;34719 | &nbsp;&nbsp;179120 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;179120 | &nbsp;&nbsp;(144401) | &nbsp;&nbsp;— | &nbsp;&nbsp;(144401) |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SA Schroders VCP Global Allocation Portfolio** | **SA Schroders VCP Global Allocation Portfolio** | **SA Schroders VCP Global Allocation Portfolio** | **SA Schroders VCP Global Allocation Portfolio** | **SA Schroders VCP Global Allocation Portfolio** | **SA Schroders VCP Global Allocation Portfolio** | **SA Schroders VCP Global Allocation Portfolio** | **SA Schroders VCP Global Allocation Portfolio** |  |  |  |
|  | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** |  |  |  |
| **Counterparty** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Purchased** | **Total** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Written** | **Total** | **Net<br> Derivative<br> Assets<br> (Liabilities)** | **Collateral<br> Pledged/<br> (Received)(2)** | **Net<br> Amount(3)** |
| Goldman Sachs International<br>| $194290 | $— | $— | $194290 | $11204 | $— | $— | $11204 | $183086 | $— | $183086 |
| UBS AG<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;103543 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;103543 | &nbsp;&nbsp;(103543) | &nbsp;&nbsp;— | &nbsp;&nbsp;(103543) |
| **Total<br>**  | $523781 | $— | $— | $523781 | $507013 | $— | $— | $507013 | $16768 | $— | $16768 |

---

(1) Gross amounts of recognized assets and liabilities not offset in the Statement of Assets and Liabilities.

(2) For each respective counterparty, collateral pledged or (received) is limited to an amount not to exceed 100% of the derivative asset/liability in the table above.

(3) Net amount represents the net amount due (to)/from counterparty in the event of a default based on the contractual set-off rights under the agreement.

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SA Small Cap Index Portfolio** | **SA Small Cap Index Portfolio** | **SA Small Cap Index Portfolio** | **SA Small Cap Index Portfolio** | **SA Small Cap Index Portfolio** | **SA Small Cap Index Portfolio** | **SA Small Cap Index Portfolio** | **SA Small Cap Index Portfolio** |  |  |  |
|  | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** |  |  |  |
| **Counterparty** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Purchased** | **Total** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Written** | **Total** | **Net<br> Derivative<br> Assets<br> (Liabilities)** | **Collateral<br> Pledged/<br> (Received)(2)** | **Net<br> Amount(3)** |
| Bank of America Merrill Lynch<br>| $— | $5610 | $— | $5610 | $— | $391 | $— | $391 | $5219 | $— | $5219 |
| BNP Paribas<br>| &nbsp;&nbsp;— | &nbsp;&nbsp;116451 | &nbsp;&nbsp;— | &nbsp;&nbsp;116451 | &nbsp;&nbsp;— | &nbsp;&nbsp;3432 | &nbsp;&nbsp;— | &nbsp;&nbsp;3432 | &nbsp;&nbsp;113019 | &nbsp;&nbsp;— | &nbsp;&nbsp;113019 |
| Goldman Sachs and Co. LLC<br>| &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2985 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2985 | &nbsp;&nbsp;— | &nbsp;&nbsp;3127 | &nbsp;&nbsp;— | &nbsp;&nbsp;3127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(142) | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(142) |
| HSBC Holdings<br>| &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;3208 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;3208 | &nbsp;&nbsp;— | &nbsp;&nbsp;1213 | &nbsp;&nbsp;— | &nbsp;&nbsp;1213 | &nbsp;&nbsp;&nbsp;&nbsp;1995 | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1995 |
| JPMorgan Securities, LLC<br>| &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;1222 | &nbsp;&nbsp;— | &nbsp;&nbsp;1222 | &nbsp;&nbsp;&nbsp;&nbsp;(1222) | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(1222) |
| **Total<br>**  | $— | $128254 | $— | $128254 | $— | $9385 | $— | $9385 | $118869 | $— | $118869 |

---

(1) Gross amounts of recognized assets and liabilities not offset in the Statement of Assets and Liabilities.

(2) For each respective counterparty, collateral pledged or (received) is limited to an amount not to exceed 100% of the derivative asset/liability in the table above.

(3) Net amount represents the net amount due (to)/from counterparty in the event of a default based on the contractual set-off rights under the agreement.

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SA T. Rowe Price VCP Balanced Portfolio** | **SA T. Rowe Price VCP Balanced Portfolio** | **SA T. Rowe Price VCP Balanced Portfolio** | **SA T. Rowe Price VCP Balanced Portfolio** | **SA T. Rowe Price VCP Balanced Portfolio** | **SA T. Rowe Price VCP Balanced Portfolio** | **SA T. Rowe Price VCP Balanced Portfolio** | **SA T. Rowe Price VCP Balanced Portfolio** |  |  |  |
|  | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** |  |  |  |
| **Counterparty** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Purchased** | **Total** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Written** | **Total** | **Net<br> Derivative<br> Assets<br> (Liabilities)** | **Collateral<br> Pledged/<br> (Received)(2)** | **Net<br> Amount(3)** |
| Goldman Sachs International<br>| $— | $— | $4610495 | $4610495 | $— | $— | $— | $— | $4610495 | $(4450000) | $160495 |
| **Total<br>**  | $— | $— | $4610495 | $4610495 | $— | $— | $— | $— | $4610495 | $(4450000) | $160495 |

---

(1) Gross amounts of recognized assets and liabilities not offset in the Statement of Assets and Liabilities.

(2) For each respective counterparty, collateral pledged or (received) is limited to an amount not to exceed 100% of the derivative asset/liability in the table above.

(3) Net amount represents the net amount due (to)/from counterparty in the event of a default based on the contractual set-off rights under the agreement.

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SA VCP Dynamic Allocation Portfolio** | **SA VCP Dynamic Allocation Portfolio** | **SA VCP Dynamic Allocation Portfolio** | **SA VCP Dynamic Allocation Portfolio** | **SA VCP Dynamic Allocation Portfolio** | **SA VCP Dynamic Allocation Portfolio** | **SA VCP Dynamic Allocation Portfolio** | **SA VCP Dynamic Allocation Portfolio** |  |  |  |
|  | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** |  |  |  |
| **Counterparty** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Purchased** | **Total** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Written** | **Total** | **Net<br> Derivative<br> Assets<br> (Liabilities)** | **Collateral<br> Pledged/<br> (Received)(2)** | **Net<br> Amount(3)** |
| Citibank, N.A.<br>| $— | $— | $33948433 | $33948433 | $— | $— | $— | $— | $33948433 | $(32339500) | $1608933 |
| Goldman Sachs International<br>| &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;31805378 | &nbsp;&nbsp;31805378 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;31805378 | &nbsp;&nbsp;(30420000) | &nbsp;&nbsp;&nbsp;&nbsp;1385378 |
| JPMorgan Chase Bank, N.A.<br>| &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;7269381 | &nbsp;&nbsp;&nbsp;&nbsp;7269381 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;7269381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;7269381 |
| UBS AG<br>| &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;4602864 | &nbsp;&nbsp;&nbsp;&nbsp;4602864 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;4602864 | &nbsp;&nbsp;&nbsp;&nbsp;(4337835) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265029 |
| **Total<br>**  | $— | $— | $77626056 | $77626056 | $— | $— | $— | $— | $77626056 | $(67097335) | $10528721 |

---

(1) Gross amounts of recognized assets and liabilities not offset in the Statement of Assets and Liabilities.

(2) For each respective counterparty, collateral pledged or (received) is limited to an amount not to exceed 100% of the derivative asset/liability in the table above.

(3) Net amount represents the net amount due (to)/from counterparty in the event of a default based on the contractual set-off rights under the agreement.

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SA VCP Dynamic Strategy Portfolio** | **SA VCP Dynamic Strategy Portfolio** | **SA VCP Dynamic Strategy Portfolio** | **SA VCP Dynamic Strategy Portfolio** | **SA VCP Dynamic Strategy Portfolio** | **SA VCP Dynamic Strategy Portfolio** | **SA VCP Dynamic Strategy Portfolio** | **SA VCP Dynamic Strategy Portfolio** |  |  |  |
|  | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** |  |  |  |
| **Counterparty** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Purchased** | **Total** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Written** | **Total** | **Net<br> Derivative<br> Assets<br> (Liabilities)** | **Collateral<br> Pledged/<br> (Received)(2)** | **Net<br> Amount(3)** |
| Citibank, N.A.<br>| $— | $— | $19711994 | $19711994 | $— | $— | $— | $— | $19711994 | $(18777600) | $934394 |
| Goldman Sachs International<br>| &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;15138662 | &nbsp;&nbsp;15138662 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;15138662 | &nbsp;&nbsp;(14480000) | &nbsp;&nbsp;&nbsp;&nbsp;658662 |
| JPMorgan Chase Bank, N.A.<br>| &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;3689778 | &nbsp;&nbsp;&nbsp;&nbsp;3689778 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;3689778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;3689778 |
| UBS AG<br>| &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;3519837 | &nbsp;&nbsp;&nbsp;&nbsp;3519837 | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;3519837 | &nbsp;&nbsp;&nbsp;&nbsp;(3326400) | &nbsp;&nbsp;&nbsp;&nbsp;193437 |
| **Total<br>**  | $— | $— | $42060271 | $42060271 | $— | $— | $— | $— | $42060271 | $(36584000) | $5476271 |

---

(1) Gross amounts of recognized assets and liabilities not offset in the Statement of Assets and Liabilities.

(2) For each respective counterparty, collateral pledged or (received) is limited to an amount not to exceed 100% of the derivative asset/liability in the table above.

(3) Net amount represents the net amount due (to)/from counterparty in the event of a default based on the contractual set-off rights under the agreement.

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** |  |  |  |
|  | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Assets(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** | **Derivative Liabilities(1)** |  |  |  |
| **Counterparty** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Purchased** | **Total** | **Forward<br> Foreign<br> Currency<br> Contracts** | **OTC<br> Swaps** | **Options<br> Written** | **Total** | **Net<br> Derivative<br> Assets<br> (Liabilities)** | **Collateral<br> Pledged/<br> (Received)(2)** | **Net<br> Amount(3)** |
| Goldman Sachs International<br>| $— | $— | $1123611 | $1123611 | $— | $— | $— | $— | $1123611 | $(1090000) | $33611 |
| **Total<br>**  | $— | $— | $1123611 | $1123611 | $— | $— | $— | $— | $1123611 | $(1090000) | $33611 |

---

(1) Gross amounts of recognized assets and liabilities not offset in the Statement of Assets and Liabilities.

(2) For each respective counterparty, collateral pledged or (received) is limited to an amount not to exceed 100% of the derivative asset/liability in the table above.

(3) Net amount represents the net amount due (to)/from counterparty in the event of a default based on the contractual set-off rights under the agreement.

#### Note 4 — Federal Income Taxes
&nbsp;&nbsp;&nbsp;&nbsp;The following details the tax basis of distributions as well as the components of distributable earnings. The tax basis components of distributable earnings differ from the amounts reflected in the Statement of Assets and Liabilities by temporary book/tax differences primarily arising from wash sales, post October capital losses, investments in passive foreign investment companies, investments in real estate investment trusts, investments in regulated investment companies, straddle loss deferrals, foreign taxes payable, contingent payment debt securities, inflation securities, late year ordinary losses, investments in partnerships, treatment of defaulted securities and derivative transactions.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Distributable Earnings** | &nbsp;&nbsp;**Distributable Earnings** | &nbsp;&nbsp;**Distributable Earnings** | &nbsp;&nbsp;**Tax Distributions** | &nbsp;&nbsp;**Tax Distributions** |
|  | &nbsp;&nbsp;**For the year ended January 31, 2025** | &nbsp;&nbsp;**For the year ended January 31, 2025** | &nbsp;&nbsp;**For the year ended January 31, 2025** | &nbsp;&nbsp;**For the year ended January 31, 2025** | &nbsp;&nbsp;**For the year ended January 31, 2025** |
| **Portfolio** | &nbsp;&nbsp;**Ordinary<br> Income** | &nbsp;&nbsp;**Long-term<br> Gains/Capital<br> Loss Carryover** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)\*** | &nbsp;&nbsp;**Ordinary<br> Income** | &nbsp;&nbsp;**Long-Term<br> Capital<br> Gains** |
| SA AB Growth<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$263666549 | &nbsp;&nbsp;$724346086 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$184483992 |
| SA AB Small & Mid Cap Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;16650687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38144581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41091500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8994027 | &nbsp;&nbsp;&nbsp;&nbsp;25545924 |
| SA BlackRock Multi-Factor 70/30<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2485833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1960166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9134306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Emerging Markets Equity Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1725701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8149065) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4191205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1908365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Federated Hermes Corporate Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;47005143 | &nbsp;&nbsp;&nbsp;&nbsp;(39385021) | &nbsp;&nbsp;&nbsp;&nbsp;(110375267) | &nbsp;&nbsp;&nbsp;&nbsp;46889810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Fidelity Institutional AM® Global Equities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8825798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53313256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85627139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3941147 | &nbsp;&nbsp;&nbsp;&nbsp;21700652 |
| SA Fidelity Institutional AM® International Growth<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7352976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25493147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44339604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3314415 |
| SA Fidelity Institutional AM® Real Estate<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6574722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15890949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26493360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5425918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Fixed Income Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;15165587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3601520) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55257046) | &nbsp;&nbsp;&nbsp;&nbsp;15264060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Fixed Income Intermediate Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;12368740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5381712) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20421644) | &nbsp;&nbsp;&nbsp;&nbsp;12889703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Franklin BW U.S. Large Cap Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;20358573 | &nbsp;&nbsp;&nbsp;&nbsp;181091516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317981356 | &nbsp;&nbsp;&nbsp;&nbsp;24632796 | &nbsp;&nbsp;&nbsp;&nbsp;12483405 |
| SA Franklin Small Company Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8050003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16857842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32996779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7493447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2533816 |
| SA Franklin Systematic U.S. Large Cap Core<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9440746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13976767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50528458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1306789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5302185 |
| SA Franklin Systematic U.S. Large Cap Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;16921532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13415755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66854982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5614513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Franklin Tactical Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1963744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4763579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17010616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Global Index Allocation 60/40<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1242739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2984858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6905298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1865130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2752535 |
| SA Global Index Allocation 75/25<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1618248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4816190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10183325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1328496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2142955 |
| SA Global Index Allocation 90/10<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5659245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18747340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53660750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4943894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9182222 |
| SA Goldman Sachs Multi-Asset Insights<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;673891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3992430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3372342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1062803 |
| SA Index Allocation 60/40<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4165351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14739519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29719306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3230500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8241444 |
| SA Index Allocation 80/20<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6876731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34468641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98000190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5774695 | &nbsp;&nbsp;&nbsp;&nbsp;17110025 |
| SA Index Allocation 90/10<br>| &nbsp;&nbsp;&nbsp;&nbsp;18017752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84337192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325655445 | &nbsp;&nbsp;&nbsp;&nbsp;15630968 | &nbsp;&nbsp;&nbsp;&nbsp;47567548 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Distributable Earnings** | &nbsp;&nbsp;**Distributable Earnings** | &nbsp;&nbsp;**Distributable Earnings** | &nbsp;&nbsp;**Tax Distributions** | &nbsp;&nbsp;**Tax Distributions** |
|  | &nbsp;&nbsp;**For the year ended January 31, 2025** | &nbsp;&nbsp;**For the year ended January 31, 2025** | &nbsp;&nbsp;**For the year ended January 31, 2025** | &nbsp;&nbsp;**For the year ended January 31, 2025** | &nbsp;&nbsp;**For the year ended January 31, 2025** |
| **Portfolio** | &nbsp;&nbsp;**Ordinary<br> Income** | &nbsp;&nbsp;**Long-term<br> Gains/Capital<br> Loss Carryover** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)\*** | &nbsp;&nbsp;**Ordinary<br> Income** | &nbsp;&nbsp;**Long-Term<br> Capital<br> Gains** |
| SA International Index<br>| &nbsp;&nbsp;$19869747 | &nbsp;&nbsp;$(7444145) | &nbsp;&nbsp;$150437862 | &nbsp;&nbsp;$21048144 | &nbsp;&nbsp;$— |
| SA Invesco Growth Opportunities\*\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(13514134) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65897777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Janus Focused Growth<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96300538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201445089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;20665791 |
| SA JPMorgan Diversified Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7940692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14371790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28094961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7065834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Emerging Markets<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4474876 | &nbsp;&nbsp;&nbsp;&nbsp;(27530487) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14751045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5217199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Equity-Income<br>| &nbsp;&nbsp;&nbsp;&nbsp;16103035 | &nbsp;&nbsp;&nbsp;&nbsp;135716327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234587114 | &nbsp;&nbsp;&nbsp;&nbsp;20568125 | &nbsp;&nbsp;&nbsp;&nbsp;61484527 |
| SA JPMorgan Large Cap Core<br>| &nbsp;&nbsp;&nbsp;&nbsp;19556873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40687092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100549494 | &nbsp;&nbsp;&nbsp;&nbsp;25984752 | &nbsp;&nbsp;&nbsp;&nbsp;31990049 |
| SA JPMorgan MFS Core Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;61715480 | &nbsp;&nbsp;&nbsp;(128250315) | &nbsp;&nbsp;&nbsp;&nbsp;(128118094) | &nbsp;&nbsp;&nbsp;&nbsp;63475171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Mid-Cap Growth<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51557635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145775461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Ultra-Short Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;14864944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9894441) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613428 | &nbsp;&nbsp;&nbsp;&nbsp;12731793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Large Cap Growth Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7768864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93549082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194764143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3382123 | &nbsp;&nbsp;&nbsp;&nbsp;20865423 |
| SA Large Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;36998650 | &nbsp;&nbsp;&nbsp;&nbsp;386385054 | &nbsp;&nbsp;&nbsp;1988125992 | &nbsp;&nbsp;&nbsp;&nbsp;41576836 | &nbsp;&nbsp;&nbsp;156571136 |
| SA Large Cap Value Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;13033080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49714734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30534828 | &nbsp;&nbsp;&nbsp;&nbsp;45112261 | &nbsp;&nbsp;&nbsp;&nbsp;11553691 |
| SA MFS Large Cap Growth<br>| &nbsp;&nbsp;&nbsp;&nbsp;18554466 | &nbsp;&nbsp;&nbsp;&nbsp;134513893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265577832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1782047 | &nbsp;&nbsp;&nbsp;&nbsp;72287088 |
| SA MFS Massachusetts Investors Trust<br>| &nbsp;&nbsp;&nbsp;&nbsp;10084061 | &nbsp;&nbsp;&nbsp;&nbsp;207456916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239783916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6627651 | &nbsp;&nbsp;&nbsp;107454655 |
| SA MFS Total Return<br>| &nbsp;&nbsp;&nbsp;&nbsp;10350510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39961864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54447213 | &nbsp;&nbsp;&nbsp;&nbsp;11028829 | &nbsp;&nbsp;&nbsp;&nbsp;18729122 |
| SA Mid Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;13710938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23846919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123757987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5185642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4554677 |
| SA Morgan Stanley International Equities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7323123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23848464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30893469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5662013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA PIMCO Global Bond Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6766348 | &nbsp;&nbsp;&nbsp;&nbsp;(35478654) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7575364) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6462827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA PIMCO RAE International Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;23879001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5602619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400494 | &nbsp;&nbsp;&nbsp;&nbsp;15442267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA PineBridge High-Yield Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;14514834 | &nbsp;&nbsp;&nbsp;&nbsp;(28659994) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3016029) | &nbsp;&nbsp;&nbsp;&nbsp;17147250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Putnam International Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7560196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29980349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49405901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9808514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9872147 |
| SA Schroders VCP Global Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8542025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3880963) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43345803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7471679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Small Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4775149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16326956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44360717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3103400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4023992 |
| SA T. Rowe Price Allocation Moderately Aggressive<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8175634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44490877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130079718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7355790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7893298 |
| SA T. Rowe Price VCP Balanced<br>| &nbsp;&nbsp;&nbsp;124440934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1635452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164315257 | &nbsp;&nbsp;&nbsp;&nbsp;27056916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Dynamic Allocation<br>| &nbsp;&nbsp;&nbsp;282904059 | &nbsp;&nbsp;&nbsp;&nbsp;443997862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410666138 | &nbsp;&nbsp;&nbsp;216851873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Dynamic Strategy<br>| &nbsp;&nbsp;&nbsp;214886883 | &nbsp;&nbsp;&nbsp;&nbsp;165370183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129363144 | &nbsp;&nbsp;&nbsp;&nbsp;72585220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Index Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;29868754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2076161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66531991 | &nbsp;&nbsp;&nbsp;&nbsp;21408062 | &nbsp;&nbsp;&nbsp;&nbsp;14359781 |

---

\* Unrealized appreciation (depreciation) includes amounts for derivatives and other assets and liabilities denominated in foreign currency.

\*\* The Portfolio's Long-term Gains/Capital Loss Carryover includes both Long-term Capital Capital Gains and Capital Loss Carryforward due to ownership change limitations.

&nbsp;&nbsp;&nbsp;&nbsp;As of January 31, 2025, for Federal income tax purposes, the Portfolios indicated below have capital loss carryforwards, which are available to offset future capital gains, if any:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**Capital Loss<br> Carryforward<br> Unlimited** | &nbsp;&nbsp;**Capital Loss<br> Carryforward<br> Unlimited** |
| **Portfolio** | &nbsp;&nbsp;**ST** | &nbsp;&nbsp;**LT** |
| SA Emerging Markets Equity Index\*<br>| &nbsp;&nbsp;$1893769 | &nbsp;&nbsp;$6255296 |
| SA Federated Hermes Corporate Bond\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;8957148 | &nbsp;&nbsp;&nbsp;30427873 |
| SA Fixed Income Index\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132048 | &nbsp;&nbsp;&nbsp;&nbsp;3469472 |
| SA Fixed Income Intermediate Index\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75894 | &nbsp;&nbsp;&nbsp;&nbsp;5305818 |
| SA International Index\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;1724447 | &nbsp;&nbsp;&nbsp;&nbsp;5719698 |
| SA Invesco Growth Opportunities\*<br>| &nbsp;&nbsp;&nbsp;14778385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Emerging Markets\*<br>| &nbsp;&nbsp;&nbsp;18636611 | &nbsp;&nbsp;&nbsp;&nbsp;8893876 |
| SA JPMorgan MFS Core Bond\*<br>| &nbsp;&nbsp;&nbsp;37003619 | &nbsp;&nbsp;&nbsp;91246696 |
| SA JPMorgan Ultra-Short Bond\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;2895940 | &nbsp;&nbsp;&nbsp;&nbsp;6998501 |
| SA PIMCO Global Bond Opportunities\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523425 | &nbsp;&nbsp;&nbsp;34955229 |
| SA PineBridge High-Yield Bond\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;3077682 | &nbsp;&nbsp;&nbsp;25582312 |
| SA Schroders VCP Global Allocation\*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;3880963 |

---

 <br> \* The Portfolios had a change in ownership as defined in the Internal Revenue Code section 382 during the year ended January 31, 2025. Capital loss carryforwards may be subject to limitations pursuant to applicable federal income tax regulations.

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

&nbsp;&nbsp;&nbsp;&nbsp;The amounts of aggregate unrealized gain (loss) and the cost of investment securities for Federal tax purposes, including short-term securities and repurchase agreements, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;**Aggregate<br> Unrealized<br> Gain** | &nbsp;&nbsp;**Aggregate<br> Unrealized<br> Loss** | &nbsp;&nbsp;**Net<br> Unrealized<br> Gain<br> (Loss)** | &nbsp;&nbsp;**Cost of<br> Investments** |
| SA AB Growth<br>| &nbsp;&nbsp;$761743211 | &nbsp;&nbsp;$(35581405) | &nbsp;&nbsp;$726161806 | &nbsp;&nbsp;$1117437650 |
| SA AB Small & Mid Cap Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56210688 | &nbsp;&nbsp;&nbsp;&nbsp;(35249840) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20960848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454840405 |
| SA BlackRock Multi-Factor 70/30<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9107783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1210375) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7897408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107464240 |
| SA Emerging Markets Equity Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31428034 | &nbsp;&nbsp;&nbsp;&nbsp;(12887799) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18540235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85499713 |
| SA Federated Hermes Corporate Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11082638 | &nbsp;&nbsp;&nbsp;&nbsp;(98427587) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(87344949) | &nbsp;&nbsp;&nbsp;1605131752 |
| SA Fidelity Institutional AM® Global Equities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62843884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7003310) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55840574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283270068 |
| SA Fidelity Institutional AM® International Growth<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62194248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3663447) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58530801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204851660 |
| SA Fidelity Institutional AM® Real Estate<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29079947 | &nbsp;&nbsp;&nbsp;&nbsp;(20736432) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8343515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237400653 |
| SA Fixed Income Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1735625 | &nbsp;&nbsp;&nbsp;&nbsp;(16394107) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14658482) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563307467 |
| SA Fixed Income Intermediate Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1330023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5557787) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4227764) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496851342 |
| SA Franklin BW U.S. Large Cap Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287578844 | &nbsp;&nbsp;&nbsp;&nbsp;(18200719) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269378125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;942857817 |
| SA Franklin Small Company Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37476374 | &nbsp;&nbsp;&nbsp;&nbsp;(14600591) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22875783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260175058 |
| SA Franklin Systematic U.S. Large Cap Core<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55873269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7223283) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48649986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262798084 |
| SA Franklin Systematic U.S. Large Cap Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75987547 | &nbsp;&nbsp;&nbsp;&nbsp;(16362427) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59625120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506397042 |
| SA Franklin Tactical Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21279950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2585418) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18694532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90560691 |
| SA Global Index Allocation 60/40<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12553598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2345793) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10207805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95900846 |
| SA Global Index Allocation 75/25<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15574961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1415802) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14159159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93494933 |
| SA Global Index Allocation 90/10<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71982305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2843956) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69138349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327946316 |
| SA Goldman Sachs Multi-Asset Insights<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5823539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1046083) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4777456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45480804 |
| SA Index Allocation 60/40<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41756731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5886246) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35870485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237540233 |
| SA Index Allocation 80/20<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114287283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5204003) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109083280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419907458 |
| SA Index Allocation 90/10<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372140285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8880466) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363259819 | &nbsp;&nbsp;&nbsp;1126587997 |
| SA International Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276584038 | &nbsp;&nbsp;&nbsp;&nbsp;(46412198) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230171840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;727530060 |
| SA Invesco Growth Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53723452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6656013) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47067439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229997632 |
| SA Janus Focused Growth<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236404751 | &nbsp;&nbsp;&nbsp;&nbsp;(11348590) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225056161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298430300 |
| SA JPMorgan Diversified Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51294908 | &nbsp;&nbsp;&nbsp;&nbsp;(16362989) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34931919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;387764795 |
| SA JPMorgan Emerging Markets<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40235756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9816660) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30419096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151020148 |
| SA JPMorgan Equity-Income<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220452068 | &nbsp;&nbsp;&nbsp;&nbsp;(20910293) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199541775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629076747 |
| SA JPMorgan Large Cap Core<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119964213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8967353) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110996860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474469062 |
| SA JPMorgan MFS Core Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14294791 | &nbsp;&nbsp;&nbsp;(110990693) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(96695902) | &nbsp;&nbsp;&nbsp;1934317752 |
| SA JPMorgan Mid-Cap Growth<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146645943 | &nbsp;&nbsp;&nbsp;&nbsp;(23022018) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123623925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590335763 |
| SA JPMorgan Ultra-Short Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;704643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(182831) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343612162 |
| SA Large Cap Growth Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238905652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4677909) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234227743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505776653 |
| SA Large Cap Index<br>| &nbsp;&nbsp;&nbsp;2066261740 | &nbsp;&nbsp;&nbsp;&nbsp;(72090755) | &nbsp;&nbsp;&nbsp;1994170985 | &nbsp;&nbsp;&nbsp;1403631849 |
| SA Large Cap Value Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83690844 | &nbsp;&nbsp;&nbsp;&nbsp;(49313357) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34377487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;618246362 |
| SA MFS Large Cap Growth<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304009142 | &nbsp;&nbsp;&nbsp;&nbsp;(13660136) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290349006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568466396 |
| SA MFS Massachusetts Investors Trust<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194959236 | &nbsp;&nbsp;&nbsp;&nbsp;(10285947) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184673289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458800602 |
| SA MFS Total Return<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71958533 | &nbsp;&nbsp;&nbsp;&nbsp;(26182398) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45776135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440327556 |
| SA Mid Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135964806 | &nbsp;&nbsp;&nbsp;&nbsp;(34078242) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101886564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395357394 |
| SA Morgan Stanley International Equities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58450256 | &nbsp;&nbsp;&nbsp;&nbsp;(15819392) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42630864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293883373 |
| SA PIMCO Global Bond Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14193360 | &nbsp;&nbsp;&nbsp;&nbsp;(10825085) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3368275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441316855 |
| SA PIMCO RAE International Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56318520 | &nbsp;&nbsp;&nbsp;&nbsp;(25570852) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30747668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393875772 |
| SA PineBridge High-Yield Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4794547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4971131) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(176584) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258786487 |
| SA Putnam International Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91410271 | &nbsp;&nbsp;&nbsp;&nbsp;(15601628) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75808643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248906249 |
| SA Schroders VCP Global Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64412910 | &nbsp;&nbsp;&nbsp;&nbsp;(13503413) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50909497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360100711 |
| SA Small Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75690347 | &nbsp;&nbsp;&nbsp;&nbsp;(48143565) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27546782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266063054 |
| SA T. Rowe Price Allocation Moderately Aggressive<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177037285 | &nbsp;&nbsp;&nbsp;&nbsp;(40689316) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136347969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;636475213 |
| SA T. Rowe Price VCP Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246990341 | &nbsp;&nbsp;&nbsp;&nbsp;(72422351) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174567990 | &nbsp;&nbsp;&nbsp;1211737428 |
| SA VCP Dynamic Allocation<br>| &nbsp;&nbsp;&nbsp;1098514271 | &nbsp;&nbsp;&nbsp;(309533562) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;788980709 | &nbsp;&nbsp;&nbsp;8494512895 |
| SA VCP Dynamic Strategy<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481285215 | &nbsp;&nbsp;&nbsp;(157950697) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323334518 | &nbsp;&nbsp;&nbsp;4591696014 |
| SA VCP Index Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92979637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9473134) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83506503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476785277 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

#### Note 5 — Investment Advisory and Management Agreement, and Service Plan (12b-1 Plan)
&nbsp;&nbsp;&nbsp;&nbsp;SAAMCo serves as investment adviser to the Trust and employs investment subadvisers that make investment decisions for all or portions of certain of the Portfolios. The Portfolios pay SAAMCo a monthly fee, calculated daily based on net assets at the annual rates set forth in the table below. SAAMCo has contractually (unless otherwise indicated) agreed to waive a portion of its advisory fee for certain Portfolios. The subadvisers are compensated for their services by SAAMCo.

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;**Subadviser** | &nbsp;&nbsp;**Advisory Fee** | &nbsp;&nbsp;**Advisory Fee after Waiver** |
| SA AB Growth | &nbsp;&nbsp;AllianceBernstein L.P. | &nbsp;&nbsp;0.700% on the first $50 million<br> 0.650% on the next $100 million<br> 0.600% over $150 million | &nbsp;&nbsp;No fee waiver |
| SA AB Small & Mid Cap Value | &nbsp;&nbsp;AllianceBernstein L.P. | &nbsp;&nbsp;0.950% on first $250 million<br> 0.900% over $250 million | &nbsp;&nbsp;0.880% on the first $250 million<br> 0.830% over $250 million |
| SA BlackRock Multi-Factor 70/30 | &nbsp;&nbsp;BlackRock Investment Management, LLC | &nbsp;&nbsp;0.650% on the first $250 million<br> 0.600% over $250 million | &nbsp;&nbsp;0.400% on the first $250 million<br> 0.350% over $250 million(1) |
| SA Emerging Markets Equity Index | &nbsp;&nbsp;BlackRock Investment Management, LLC(2) | &nbsp;&nbsp;0.450% on first $2 billion<br> 0.400% over $2 billion | &nbsp;&nbsp;No fee waiver |
| SA Federated Hermes Corporate Bond | &nbsp;&nbsp;Federated Hermes Investment Management Company | &nbsp;&nbsp;0.700% on first $50 million<br> 0.600% on next $100 million<br> 0.550% on next $100 million<br> 0.500% over $250 million | &nbsp;&nbsp;No fee waiver |
| SA Fidelity Institutional AM® Global Equities | &nbsp;&nbsp;FIAM, LLC(3) | &nbsp;&nbsp;0.900% on first $50 million<br> 0.800% on next $100 million<br> 0.700% on next $150 million<br> 0.650% over $300 million | &nbsp;&nbsp;0.870% on first $50 million<br> 0.770% on next $100 million<br> 0.670% on next $150 million<br> 0.620% over $300 million(4) |
| SA Fidelity Institutional AM® International Growth | &nbsp;&nbsp;FIAM, LLC | &nbsp;&nbsp;0.780% on first $100 million<br> 0.760% on next $100 million<br> 0.750% over $200 million | &nbsp;&nbsp;No fee waiver |
| SA Fidelity Institutional AM® Real Estate | &nbsp;&nbsp;FIAM, LLC | &nbsp;&nbsp;0.800% on first $100 million<br> 0.750% on next $400 million<br> 0.700% over $500 million | &nbsp;&nbsp;No fee waiver |
| SA Fixed Income Index | &nbsp;&nbsp;BlackRock Investment Management, LLC(2) | &nbsp;&nbsp;0.300% on first $2 billion<br> 0.250% over $2 billion | &nbsp;&nbsp;Contractual Waiver(5) |
| SA Fixed Income Intermediate Index | &nbsp;&nbsp;BlackRock Investment Management, LLC(2) | &nbsp;&nbsp;0.300% on first $2 billion<br> 0.250% over $2 billion | &nbsp;&nbsp;Contactual Waiver(5) |
| SA Franklin BW U.S. Large Cap Value | &nbsp;&nbsp;Brandywine Global Investment Management, LLC | &nbsp;&nbsp;0.800% first $100 million<br> 0.750% on next $400 million<br> 0.700% over $500 million | &nbsp;&nbsp;0.670% |
| SA Franklin Small Company Value | &nbsp;&nbsp;Franklin Advisers, Inc. | &nbsp;&nbsp;1.00% on first $200 million<br> 0.920% on next $300 million<br> 0.900% over $500 million | &nbsp;&nbsp;0.950% on the first $200 million<br> 0.870% on the next $300 million<br> 0.850% thereafter(6) |
| SA Franklin Systematic U.S. Large Cap Core | &nbsp;&nbsp;Franklin Advisers, Inc. | &nbsp;&nbsp;0.500% on first $100 million<br> 0.480% on next $150 million<br> 0.460% on next $250 million<br> 0.440% on next $250 million<br> 0.430% over $750 million | &nbsp;&nbsp;No fee waiver |
| SA Franklin Systematic U.S. Large Cap Value | &nbsp;&nbsp;Franklin Advisers, Inc. | &nbsp;&nbsp;0.600% | &nbsp;&nbsp;No fee waiver |
| SA Franklin Tactical Opportunities | &nbsp;&nbsp;Franklin Advisers, Inc. | &nbsp;&nbsp;0.700% on first $500 million<br> 0.675% on next $500 million<br> 0.650% on next $1 billion<br> 0.625% over $2 billion | &nbsp;&nbsp;No fee waiver |

---

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;**Subadviser** | &nbsp;&nbsp;**Advisory Fee** | &nbsp;&nbsp;**Advisory Fee after Waiver** |
| SA Global Index Allocation 60/40 |  | &nbsp;&nbsp;0.100% | &nbsp;&nbsp;No fee waiver |
| SA Global Index Allocation 75/25 |  | &nbsp;&nbsp;0.100% | &nbsp;&nbsp;No fee waiver |
| SA Global Index Allocation 90/10 |  | &nbsp;&nbsp;0.100% | &nbsp;&nbsp;No fee waiver |
| SA Goldman Sachs Multi-Asset Insights | &nbsp;&nbsp;Goldman Sachs Asset Management, LP | &nbsp;&nbsp;0.700% on first $500 million<br> 0.675% on next $500 million<br> 0.665% thereafter | &nbsp;&nbsp;No fee waiver |
| SA Index Allocation 60/40 |  | &nbsp;&nbsp;0.100% | &nbsp;&nbsp;No fee waiver |
| SA Index Allocation 80/20 |  | &nbsp;&nbsp;0.100% | &nbsp;&nbsp;No fee waiver |
| SA Index Allocation 90/10 |  | &nbsp;&nbsp;0.100% | &nbsp;&nbsp;No fee waiver |
| SA International Index | &nbsp;&nbsp;BlackRock Investment Management, LLC(2) | &nbsp;&nbsp;0.400% on first $2 billion<br> 0.350% over $2 billion | &nbsp;&nbsp;No fee waiver |
| SA Invesco Growth Opportunities | &nbsp;&nbsp;Invesco Advisers, Inc. | &nbsp;&nbsp;0.750% on first $250 million<br> 0.700% on next $250 million<br> 0.650% over $500 million | &nbsp;&nbsp;No fee waiver |
| SA Janus Focused Growth | &nbsp;&nbsp;Janus Henderson Investors US LLC | &nbsp;&nbsp;0.850% | &nbsp;&nbsp;0.750% |
| SA JPMorgan Diversified Balanced | &nbsp;&nbsp;J.P. Morgan Investment Management, Inc. | &nbsp;&nbsp;0.700% on first $50 million<br> 0.650% on next $100 million<br> 0.600% on next $150 million<br> 0.550% on next $200 million<br> 0.500% over $500 million | &nbsp;&nbsp;Contractual Waiver(7) |
| SA JPMorgan Emerging Markets | &nbsp;&nbsp;J.P. Morgan Investment Management, Inc. | &nbsp;&nbsp;1.150% on first $100 million<br> 1.100% on next $100 million<br> 1.050% over $200 million | &nbsp;&nbsp;1.000% |
| SA JPMorgan Equity-Income | &nbsp;&nbsp;J.P. Morgan Investment Management, Inc. | &nbsp;&nbsp;0.700% on first $50 million<br> 0.650% on next $100 million<br> 0.600% on next $150 million<br> 0.550% on next $200 million<br> 0.500% over $500 million | &nbsp;&nbsp;No fee waiver |
| SA JPMorgan Large Cap Core | &nbsp;&nbsp;J.P. Morgan Investment Management, Inc. | &nbsp;&nbsp;0.800% on first $50 million<br> 0.750% on next $200 million<br> 0.700% over $250 million | &nbsp;&nbsp;0.730% on the first $50 million<br> 0.680% on the next $200 million<br> 0.630% over $250 million |
| SA JPMorgan MFS Core Bond | &nbsp;&nbsp;J.P. Morgan Investment Management, Inc.<br> Massachusetts Financial Services Company | &nbsp;&nbsp;0.600% | &nbsp;&nbsp;0.500% |
| SA JPMorgan Mid-Cap Growth | &nbsp;&nbsp;J.P. Morgan Investment Management, Inc. | &nbsp;&nbsp;0.800% on first $100 million<br> 0.750% over $100 million | &nbsp;&nbsp;0.770% on the first $100 million<br> 0.720% on the next $400 million<br> 0.700% over $500 million(8) |
| SA JPMorgan Ultra-Short Bond | &nbsp;&nbsp;J.P. Morgan Investment Management, Inc. | &nbsp;&nbsp;0.475% on first $100 million<br> 0.450% on next $400 million<br> 0.425% on next $500 million<br> 0.400% over $1 billion | &nbsp;&nbsp;No fee waiver |
| SA Large Cap Growth Index | &nbsp;&nbsp;BlackRock Investment Management, LLC(2) | &nbsp;&nbsp;0.300% on first $2 billion<br> 0.250% over $2 billion | &nbsp;&nbsp;No fee waiver |
| SA Large Cap Index | &nbsp;&nbsp;BlackRock Investment Management, LLC(2) | &nbsp;&nbsp;0.400% on first $2 billion<br> 0.320% on next $1 billion<br> 0.280% over $3 billion | &nbsp;&nbsp;0.260% on the first $2 billion<br> 0.180% on the next $1 billion<br> 0.140% over $3 billion |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;**Subadviser** | &nbsp;&nbsp;**Advisory Fee** | &nbsp;&nbsp;**Advisory Fee after Waiver** |
| SA Large Cap Value Index | &nbsp;&nbsp;BlackRock Investment Management, LLC(2) | &nbsp;&nbsp;0.300% on first $2 billion<br> 0.250% over $2 billion | &nbsp;&nbsp;No fee waiver |
| SA MFS Large Cap Growth | &nbsp;&nbsp;Massachusetts Financial Services Company | &nbsp;&nbsp;0.700% on first $250 million<br> 0.650% on next $250 million<br> 0.600% over $500 million | &nbsp;&nbsp;No fee waiver |
| SA MFS Massachusetts Investors Trust | &nbsp;&nbsp;Massachusetts Financial Services Company | &nbsp;&nbsp;0.700% on first $600 million<br> 0.650% on next $900 million<br> 0.600% over $1.5 billion | &nbsp;&nbsp;0.660% on the first $600 million<br> 0.610% on the next $900 million<br> 0.560% over $1.5 billion |
| SA MFS Total Return | &nbsp;&nbsp;Massachusetts Financial Services Company | &nbsp;&nbsp;0.700% on first $50 million<br> 0.650% on next $450 million<br> 0.625% for next $250 million<br> 0.595% for next $250 million<br> 0.575% over $1 billion | &nbsp;&nbsp;No fee waiver |
| SA Mid Cap Index | &nbsp;&nbsp;BlackRock Investment Management, LLC(2) | &nbsp;&nbsp;0.300% on first $2 billion<br> 0.250% over $2 billion | &nbsp;&nbsp;No fee waiver |
| SA Morgan Stanley International Equities | &nbsp;&nbsp;Morgan Stanley Investment Management, Inc. | &nbsp;&nbsp;0.850% on first $250 million<br> 0.800% on next $250 million<br> 0.750% over $500 million | &nbsp;&nbsp;0.800% on the first $250 million<br> 0.750% on the next $250 million<br> 0.700% over $500 million |
| SA PIMCO Global Bond Opportunities | &nbsp;&nbsp;Pacific Investment Management Company, LLC | &nbsp;&nbsp;0.75% first $50 million<br> 0.65% next $100 million<br> 0.60% next $100 million<br> 0.55% over $250 million | &nbsp;&nbsp;0.73% first $50 million<br> 0.63% next $100 million<br> 0.58% next $100 million<br> 0.53% over $250 million |
| SA PIMCO RAE International Value | &nbsp;&nbsp;Pacific Investment Management Company, LLC | &nbsp;&nbsp;1.025% on first $50 million<br> 0.865% on next $150 million<br> 0.775% on next $300 million<br> 0.750% over $500 million | &nbsp;&nbsp;0.765% on the first $250 million<br> 0.740% over $250 million |
| SA PineBridge High-Yield Bond | &nbsp;&nbsp;PineBridge Investments, LLC | &nbsp;&nbsp;0.700% on first $50 million<br> 0.650% on next $100 million<br> 0.600% on next $100 million<br> 0.550% over $250 million | &nbsp;&nbsp;No fee waiver |
| SA Putnam International Value | &nbsp;&nbsp;Putnam Investment Management, LLC | &nbsp;&nbsp;1.000% on first $150 million<br> 0.900% on next $150 million<br> 0.800% over $300 million | &nbsp;&nbsp;0.900% on first $150 million<br> 0.800% on next $150 million<br> 0.700% over $300 million |
| SA Schroders VCP Global Allocation | &nbsp;&nbsp;Schroders Investment Management North America, Inc. | &nbsp;&nbsp;0.850% on first $250 million<br> 0.830% on next $250 million<br> 0.790% on next $1 billion<br> 0.770% over $1.5 billion | &nbsp;&nbsp;No fee waiver |
| SA Small Cap Index | &nbsp;&nbsp;BlackRock Investment Management, LLC(2) | &nbsp;&nbsp;0.350% on first $2 billion<br> 0.300% over $2 billion | &nbsp;&nbsp;0.310% on first $2 billion<br> 0.260% over $2 billion |
| SA T. Rowe Price Allocation Moderately Aggressive | &nbsp;&nbsp;T. Rowe Price Associates, Inc. | &nbsp;&nbsp;0.700% on first $400 million<br> 0.685% on next $500 million<br> 0.660% on next $1 billion<br> 0.635% thereafter | &nbsp;&nbsp;No fee waiver |

---

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;**Subadviser** | &nbsp;&nbsp;**Advisory Fee** | &nbsp;&nbsp;**Advisory Fee after Waiver** |
| SA T. Rowe Price VCP Balanced | &nbsp;&nbsp;T. Rowe Price Associates, Inc. | &nbsp;&nbsp;0.850% on first $200 million<br> 0.820% reset at $200 million<br> 0.820% on next $300 million<br> 0.800% reset at $500 million<br> 0.800% on next $500 million<br> 0.770% reset at $1 billion<br> 0.750% on next $1 billion<br> 0.750% reset at $2 billion<br> 0.750% over $2 billion | &nbsp;&nbsp;No fee waiver |
| SA VCP Dynamic Allocation | &nbsp;&nbsp;AllianceBernstein L.P. | &nbsp;&nbsp;0.250% on first $1.5 billion<br> 0.220% on next $1.5 billion<br> 0.200% over $3 billion | &nbsp;&nbsp;0.250% on first $1.5 billion<br> 0.220% on next $1.5 billion<br> 0.200% on next $5 billion<br> 0.190% over $8 billion(9) |
| SA VCP Dynamic Strategy | &nbsp;&nbsp;AllianceBernstein L.P. | &nbsp;&nbsp;0.250% on first $1.5 billion<br> 0.220% on next $1.5 billion<br> 0.200% over $3 billion | &nbsp;&nbsp;Voluntary Waiver(9) |
| SA VCP Index Allocation | &nbsp;&nbsp;T. Rowe Price Associates, Inc. | &nbsp;&nbsp;0.200% on first $500 million<br> 0.175% thereafter | &nbsp;&nbsp;No fee waiver |

---

(1) The Advisor has also contractually agreed to waive an additional portion of its management fee in an amount equal to the Portfolio's expenses related to investments in exchange traded funds ("ETFs") managed or advised by BlackRock Investment Management, LLC ("BlackRock") or its affiliates, and this waiver will continue so long as the Portfolio invests in such ETFs.

(2) Effective April 28, 2025, BlackRock Investment Management, LLC assumed responsibility as subadviser for SA Emerging Markets Equity Index Portfolio, SA Fixed Income Index Portfolio, SA Fixed Income Intermediate Index Portfolio, SA International Index Portfolio, SA Large Cap Growth Index Portfolio, SA Large Cap Index Portfolio, SA Large Cap Value Index Portfolio, SA Mid Cap Index Portfolio and SA Small Cap Index Portfolio.

(3) On July 28, 2025, FIAM, LLC was appointed as subadviser replacing J.P. Morgan Investment Management, Inc.

(4) The information presented represents the advisory fees after waivers that became effective on July 28, 2025. Prior to that date, the portfolio had no fee waivers.

(5) Effective April 30, 2025, The Adviser contractually agrees to waive its Advisory Fee in an amount equal to the BlackRock iShares Waiver in order to pass the benefit of such waiver onto the Portfolio in connection with its investments in the iShares Funds (iShares), and this waiver will continue so long as the Portfolio invests in such iShares.

(6) The Advisor has also voluntarily agreed to waive its advisory fee with the respect to SA Franklin Small Company Value Portfolio, after taking into account the contractual advisory fee waiver above, so that its advisory fee payable by the Portfolio is equal to 0.90% of the Portfolio's average daily net assets on the first $200 million, 0.82% of the Portfolio's average daily net assets on the next $300 million, and 0.80% of the Portfolio's average daily net assets thereafter.

(7) The Advisor has contractually agreed, until further notice, to waive a portion of its Advisory fee in an amount equal to the amount of any Subadvisory fees voluntarily waived by the Portfolio's Subadviser, J.P. Morgan Investment Management, Inc ("JPM"), in connection with the Portfolio's investments in the JPM underlying Portfolios (the " Morgan Fee Waiver"). The JPMorgan Fee Waiver may be modified or terminated at any time by the Subadviser.

(8) The information presented represents the advisory fees after waivers that became effective on March 1, 2025. Prior to that date, SA JPMorgan Mid-Cap Growth Portfolio contractually waived fees so that its advisory fee payable was equal to 0.79% of the Portfolio's average daily net assets on the first $100 million and 0.750% of the Portfolio's average daily net assets on the next $400 million, and 0.73% on the Portfolio's average daily net assets thereafter.

(9) The Advisor has also voluntarily agreed, until further notice, to waive an additional portion of its advisory fee, in an amount equal to the amount of any advisory fees voluntarily waived by the Portfolio' Subadviser, AllianceBernstein L.P. ("AB"), in connection with the Portfolio' investments in the AB Government Money Market Portfolio, a series of AB Fixed-Income Shares, Inc. managed by AB (the "AB Portfolio Waiver"). The AB Portfolio Waiver may be terminated at any time by the Advisor.

&nbsp;&nbsp;&nbsp;&nbsp;For the six months ended July 31, 2025, advisory fees waived were as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;**Amount** |
| SA AB Small & Mid Cap Value<br>| &nbsp;&nbsp;$160644 |
| SA BlackRock Multi-Factor 70/30<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227481 |
| SA Fidelity Institutional AM® Global Equities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1124 |
| SA Fixed Income Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14330 |
| SA Fixed Income Intermediate Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16286 |
| SA Franklin BW U.S. Large Cap Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324177 |
| SA Franklin Small Company Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135893 |
| SA Janus Focused Growth<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227436 |
| SA JPMorgan Diversified Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39801 |
| SA JPMorgan Emerging Markets<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118339 |
| SA JPMorgan Large Cap Core<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187543 |
| SA JPMorgan MFS Core Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875679 |
| SA JPMorgan Mid-Cap Growth<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99757 |
| SA Large Cap Index<br>| &nbsp;&nbsp;&nbsp;2222530 |

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

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| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;**Amount** |
| SA MFS Massachusetts Investors Trust<br>| &nbsp;&nbsp;$125962 |
| SA Morgan Stanley International Equities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83340 |
| SA PIMCO Global Bond Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27443 |
| SA PIMCO RAE International Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172862 |
| SA Putnam International Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153976 |
| SA Small Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56364 |
| SA VCP Dynamic Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315277 |
| SA VCP Dynamic Strategy<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145225 |

---

&nbsp;&nbsp;&nbsp;&nbsp;The Adviser has contractually agreed to waive its fees and/or reimburse expenses, if necessary, to keep annual operating expenses at or below certain percentages of the following Portfolios' average net assets. This agreement may be modified or discontinued prior to April 30, 2026, only with the approval of the Board, including a majority of the trustees who are not "interested persons" of the Trust as defined in the 1940 Act. For purposes of the waived fees and reimbursed expense calculations, annual Portfolio operating expenses shall not include extraordinary expenses (i.e., expenses that are unusual in nature and infrequent in occurrence such as litigation), or acquired fund fees and expenses, brokerage commissions and other transactional expenses relating to the purchase and sale of portfolio securities, interest, taxes and governmental fees, and other expenses not incurred in the ordinary course of the Portfolio's business. During the period ended July 31, 2025, the Adviser waived its fees and/or reimbursed expenses, if necessary, to keep annual operating expenses at or below the following percentages:

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| | | | |
|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;**Class 1** | &nbsp;&nbsp;**Class 2** | &nbsp;&nbsp;**Class 3** |
| SA BlackRock Multi-Factor 70/30<br>| &nbsp;&nbsp;0.51% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;0.76% |
| SA Emerging Markets Equity Index<br>| &nbsp;&nbsp;0.58% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;0.83% |
| SA Fidelity Institutional AM® International Growth<br>| &nbsp;&nbsp;0.88% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;1.13% |
| SA Fixed Income Index<br>| &nbsp;&nbsp;0.34% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;0.59% |
| SA Fixed Income Intermediate Index<br>| &nbsp;&nbsp;0.34% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;0.59% |
| SA Franklin Systematic U.S. Large Cap Core<br>| &nbsp;&nbsp;0.70% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;0.95% |
| SA Franklin Tactical Opportunities<br>| &nbsp;&nbsp;0.81% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;1.06% |
| SA Global Index Allocation 60/40<br>| &nbsp;&nbsp;0.18% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;0.43% |
| SA Global Index Allocation 75/25<br>| &nbsp;&nbsp;0.18% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;0.43% |
| SA Global Index Allocation 90/10<br>| &nbsp;&nbsp;0.18% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;0.43% |
| SA Goldman Sachs Multi-Asset Insights<br>| &nbsp;&nbsp;0.81% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;1.06% |
| SA Index Allocation 60/40<br>| &nbsp;&nbsp;0.18% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;0.43% |
| SA Index Allocation 80/20<br>| &nbsp;&nbsp;0.18% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;0.43% |
| SA Index Allocation 90/10<br>| &nbsp;&nbsp;0.18% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;0.43% |
| SA International Index<br>| &nbsp;&nbsp;0.52% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;0.77% |
| SA JPMorgan Diversified Balanced<br>| &nbsp;&nbsp;0.83% | &nbsp;&nbsp;0.98% | &nbsp;&nbsp;1.08% |
| SA JPMorgan Mid-Cap Growth<br>| &nbsp;&nbsp;0.79% | &nbsp;&nbsp;0.94% | &nbsp;&nbsp;1.04% |
| SA Large Cap Growth Index<br>| &nbsp;&nbsp;0.35% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;0.60% |
| SA Large Cap Value Index<br>| &nbsp;&nbsp;0.35% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;0.60% |
| SA Mid Cap Index<br>| &nbsp;&nbsp;0.40% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;0.65% |
| SA Schroders VCP Global Allocation<br>| &nbsp;&nbsp;0.90% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;1.15% |
| SA Small Cap Index<br>| &nbsp;&nbsp;0.41% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;0.66% |
| SA T. Rowe Price Allocation Moderately Aggressive<br>| &nbsp;&nbsp;0.81% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;1.06% |
| SA T. Rowe Price VCP Balanced<br>| &nbsp;&nbsp;0.90% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;1.15% |
| SA VCP Index Allocation<br>| &nbsp;&nbsp;0.28% | &nbsp;&nbsp;&nbsp;N/A | &nbsp;&nbsp;0.53% |

---

&nbsp;&nbsp;&nbsp;&nbsp;The Adviser may also voluntarily waive additional fees and/or reimburse additional expenses. The Adviser may terminate all such voluntary waivers and/or reimbursements at any time.

&nbsp;&nbsp;&nbsp;&nbsp;For the six months ended July 31, 2025, expenses reimbursed were as follows:

---

| | |
|:---|:---|
| **Portfolio** | &nbsp;&nbsp;**Amount** |
| SA BlackRock Multi-Factor 70/30<br>| &nbsp;&nbsp;$4918 |
| SA Emerging Markets Equity Index<br>| &nbsp;&nbsp;&nbsp;183242 |
| SA Fidelity Institutional AM® International Growth<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8485 |
| SA Fixed Income Index<br>| &nbsp;&nbsp;&nbsp;162753 |
| SA Fixed Income Intermediate Index<br>| &nbsp;&nbsp;&nbsp;157727 |
| SA Franklin Tactical Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;75826 |
| SA Global Index Allocation 60/40<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6394 |
| SA Global Index Allocation 75/25<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5180 |
| SA Goldman Sachs Multi-Asset Insights<br>| &nbsp;&nbsp;&nbsp;&nbsp;80700 |
| SA Large Cap Growth Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;18295 |
| SA Large Cap Value Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;17946 |
| SA Schroders VCP Global Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;52632 |
| SA Small Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7332 |

---

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

&nbsp;&nbsp;&nbsp;&nbsp;Waivers or reimbursements made by the Adviser with respect to a Portfolio, with the exception of advisory fee waivers, are subject to recoupment from that Portfolio within the following two years, provided that the Portfolio is able to effect such payment to the Adviser without exceeding the applicable expense limitations in effect at the time such waivers and/or reimbursements occurred or the current expense limitation of that share class.

&nbsp;&nbsp;&nbsp;&nbsp;At July 31, 2025, expenses previously reimbursed by the Adviser that are subject to recoupment and expire during the time period indicated below are as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Amount<br> Recouped** | &nbsp;&nbsp;**Balance Subject to<br> Recoupment** | &nbsp;&nbsp;**Balance Subject to<br> Recoupment** | &nbsp;&nbsp;**Balance Subject to<br> Recoupment** |
| **Portfolio** | &nbsp;&nbsp;**July 31, 2025** | &nbsp;&nbsp;**January 31, 2026** | &nbsp;&nbsp;**January 31, 2027** | &nbsp;&nbsp;**July 31, 2027** |
| SA BlackRock Multi-Factor 70/30<br>| &nbsp;&nbsp;$— | &nbsp;&nbsp;$14524 | &nbsp;&nbsp;$13452 | &nbsp;&nbsp;$4918 |
| SA Emerging Markets Equity Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;149580 | &nbsp;&nbsp;&nbsp;235592 | &nbsp;&nbsp;&nbsp;183242 |
| SA Fidelity Institutional AM® International Growth<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8485 |
| SA Fixed Income Index<br>| &nbsp;&nbsp;&nbsp;2710 | &nbsp;&nbsp;&nbsp;&nbsp;55629 | &nbsp;&nbsp;&nbsp;&nbsp;95927 | &nbsp;&nbsp;&nbsp;162753 |
| SA Fixed Income Intermediate Index<br>| &nbsp;&nbsp;&nbsp;3799 | &nbsp;&nbsp;&nbsp;&nbsp;53226 | &nbsp;&nbsp;&nbsp;107627 | &nbsp;&nbsp;&nbsp;157727 |
| SA Franklin Tactical Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;100712 | &nbsp;&nbsp;&nbsp;173216 | &nbsp;&nbsp;&nbsp;&nbsp;75826 |
| SA Global Index Allocation 60/40<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7714 | &nbsp;&nbsp;&nbsp;&nbsp;10775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6394 |
| SA Global Index Allocation 75/25<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5180 |
| SA Goldman Sachs Multi-Asset Insights<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;107859 | &nbsp;&nbsp;&nbsp;166319 | &nbsp;&nbsp;&nbsp;&nbsp;80700 |
| SA JPMorgan Mid-Cap Growth<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Large Cap Growth Index<br>| &nbsp;&nbsp;&nbsp;2710 | &nbsp;&nbsp;&nbsp;&nbsp;33631 | &nbsp;&nbsp;&nbsp;&nbsp;50689 | &nbsp;&nbsp;&nbsp;&nbsp;18295 |
| SA Large Cap Value Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp;&nbsp;35794 | &nbsp;&nbsp;&nbsp;&nbsp;61865 | &nbsp;&nbsp;&nbsp;&nbsp;17946 |
| SA Schroders VCP Global Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;37317 | &nbsp;&nbsp;&nbsp;&nbsp;60173 | &nbsp;&nbsp;&nbsp;&nbsp;52632 |
| SA Small Cap Index<br>| &nbsp;&nbsp;&nbsp;5520 | &nbsp;&nbsp;&nbsp;&nbsp;15395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7332 |

---

&nbsp;&nbsp;&nbsp;&nbsp;The Trust has entered into a Master Transfer Agency and Service Agreement with VALIC Retirement Services Company ("VRSCO"), a majority-owned subsidiary of Variable Annuity Life Insurance Company ("VALIC"), which is an affiliate of the Adviser. Under the agreement, VRSCO provides services, which include the issuance and redemption of shares, payment of dividends between the Trust and their "institutional" shareholders and certain shareholder reporting services including confirmation of transactions and tax reporting. The Trust, and certain other mutual funds advised by SAAMCo pay VRSCO, on an annual basis, a fee in the aggregate amount of $150,000 for transfer agency services provided pursuant to the agreement. Accordingly, for the six months ended July 31, 2025, transfer agent fees were paid (see Statement of Operations) based on the aforementioned agreement. Effective October 1, 2025, the Master Transfer Agency Agreement with VRSCO and the Trust, and certain other mutual funds advised by SAAMCo will be updated and the Trust and certain other mutual funds advised by SAAMCo will pay VRSCO, on an annual basis, a fee in the aggregate amount of $1,000,000 for transfer agency services provided pursuant to the agreement.

&nbsp;&nbsp;&nbsp;&nbsp;Class 2 and Class 3 shares of each Portfolio are subject to Rule 12b-1 plans that provide for service fees payable at the annual rate of 0.15% and 0.25%, respectively, of the average daily net assets of Class 2 and Class 3 shares. The service fees will be used to compensate the Life Companies for expenditures made to financial intermediaries for providing services to contract holders who are the indirect beneficial owners of the Portfolios' Class 2 and Class 3 shares. Accordingly, for the six months ended July 31, 2025, service fees were paid (see Statement of Operations) based on the aforementioned rates.

&nbsp;&nbsp;&nbsp;&nbsp;On May 5, 2025, the SA Small Cap Index Portfolio engaged in a short sale by selling 1,056 shares of Immatics NV, causing the Portfolio to engage in an unpermitted short sale transaction. The error was corrected on May 13, 2025, when the Portfolio repurchased shares of Immatics NV, resulting in a gain of $289.42.

#### Note 6 — Purchases and Sales of Investment Securities
&nbsp;&nbsp;&nbsp;&nbsp;The cost of purchases and proceeds from sales and maturities of long—term investments during the six months ended July 31, 2025 were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;**Purchases of<br> Investment<br> Securities<br> (excluding U.S.<br> Government<br> Securities)** | &nbsp;&nbsp;**Sales of<br> Investment<br> Securities<br> (excluding U.S.<br> Government<br> Securities)** | &nbsp;&nbsp;**Purchase of U.S.<br> Government<br> Securities** | &nbsp;&nbsp;**Sales of U.S.<br> Government<br> Securities** |
| SA AB Growth<br>| &nbsp;&nbsp;$239855330 | &nbsp;&nbsp;$308524791 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| SA AB Small & Mid Cap Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201402475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206121790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA BlackRock Multi-Factor 70/30<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66550081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63569551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Emerging Markets Equity Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16361051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11755710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Federated Hermes Corporate Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207358949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121205055 | &nbsp;&nbsp;&nbsp;&nbsp;30926953 | &nbsp;&nbsp;&nbsp;&nbsp;40339844 |
| SA Fidelity Institutional AM® Global Equities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265797846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281436939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Fidelity Institutional AM® International Growth<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158872698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157512133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Fidelity Institutional AM® Real Estate<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51685200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49689900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Fixed Income Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213696774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199729521 | &nbsp;&nbsp;&nbsp;146465796 | &nbsp;&nbsp;&nbsp;153402006 |
| SA Fixed Income Intermediate Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196660181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179618725 | &nbsp;&nbsp;&nbsp;152197285 | &nbsp;&nbsp;&nbsp;153873460 |
| SA Franklin BW U.S. Large Cap Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473351679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497550065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Franklin Small Company Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77034878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77217349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Franklin Systematic U.S. Large Cap Core<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181725987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115204489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;**Purchases of<br> Investment<br> Securities<br> (excluding U.S.<br> Government<br> Securities)** | &nbsp;&nbsp;**Sales of<br> Investment<br> Securities<br> (excluding U.S.<br> Government<br> Securities)** | &nbsp;&nbsp;**Purchase of U.S.<br> Government<br> Securities** | &nbsp;&nbsp;**Sales of U.S.<br> Government<br> Securities** |
| SA Franklin Systematic U.S. Large Cap Value<br>| &nbsp;&nbsp;$286102160 | &nbsp;&nbsp;$225926486 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— |
| SA Franklin Tactical Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28195388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29912746 | &nbsp;&nbsp;&nbsp;&nbsp;22321295 | &nbsp;&nbsp;&nbsp;&nbsp;22340037 |
| SA Global Index Allocation 60/40<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7394080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10073211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Global Index Allocation 75/25<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6125083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10288637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Global Index Allocation 90/10<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20975563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36277493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Goldman Sachs Multi-Asset Insights<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28700698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30836903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Index Allocation 60/40<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10381258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24099771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Index Allocation 80/20<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11661347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39138681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Index Allocation 90/10<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35276154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110515580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA International Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198422768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98080034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Invesco Growth Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154125690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154810833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Janus Focused Growth<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123439071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103258841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Diversified Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117922819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143994132 | &nbsp;&nbsp;&nbsp;&nbsp;10789669 | &nbsp;&nbsp;&nbsp;&nbsp;15051712 |
| SA JPMorgan Emerging Markets<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71644397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90989756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Equity-Income<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104641807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184762906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Large Cap Core<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140025816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133146990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan MFS Core Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168018095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149392487 | &nbsp;&nbsp;&nbsp;207568577 | &nbsp;&nbsp;&nbsp;143225616 |
| SA JPMorgan Mid-Cap Growth<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296225558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312888331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Ultra-Short Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185094322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156475789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6709945 | &nbsp;&nbsp;&nbsp;&nbsp;19425371 |
| SA Large Cap Growth Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82356095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93200184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Large Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238416492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321227781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Large Cap Value Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84767227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58506643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA MFS Large Cap Growth<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262304629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305219374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA MFS Massachusetts Investors Trust<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119674412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226020140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA MFS Total Return<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44250329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64158176 | &nbsp;&nbsp;&nbsp;&nbsp;24462745 | &nbsp;&nbsp;&nbsp;&nbsp;22250676 |
| SA Mid Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70768168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45904716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Morgan Stanley International Equities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98063431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106482610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA PIMCO Global Bond Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88209999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80291131 | &nbsp;&nbsp;&nbsp;658699079 | &nbsp;&nbsp;&nbsp;665870776 |
| SA PIMCO RAE International Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109430025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149358644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA PineBridge High-Yield Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60674281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56579115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Putnam International Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48305662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52301948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Schroders VCP Global Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88077843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128370913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2394465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Small Cap Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59547494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61857471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA T. Rowe Price Allocation Moderately Aggressive<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103641485 | &nbsp;&nbsp;&nbsp;1471081770 | &nbsp;&nbsp;&nbsp;&nbsp;15633220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8536591 |
| SA T. Rowe Price VCP Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186421699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318424805 | &nbsp;&nbsp;&nbsp;&nbsp;65914063 | &nbsp;&nbsp;&nbsp;&nbsp;74344429 |
| SA VCP Dynamic Allocation<br>| &nbsp;&nbsp;&nbsp;1325509248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;737834141 | &nbsp;&nbsp;&nbsp;380798878 | &nbsp;&nbsp;&nbsp;298592198 |
| SA VCP Dynamic Strategy<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464997877 | &nbsp;&nbsp;&nbsp;108769145 | &nbsp;&nbsp;&nbsp;181786881 |
| SA VCP Index Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15321673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31533725 | &nbsp;&nbsp;&nbsp;&nbsp;10895766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

#### Note 7 — Capital Share Transactions
&nbsp;&nbsp;&nbsp;&nbsp;Transactions in capital shares of each class of each Portfolio were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SA AB Growth Portfolio** | **SA AB Growth Portfolio** | **SA AB Growth Portfolio** | **SA AB Growth Portfolio** | &nbsp;&nbsp;**SA AB Small & Mid Cap Value Portfolio** | &nbsp;&nbsp;**SA AB Small & Mid Cap Value Portfolio** | &nbsp;&nbsp;**SA AB Small & Mid Cap Value Portfolio** | &nbsp;&nbsp;**SA AB Small & Mid Cap Value Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;1172919 | &nbsp;&nbsp;$67304031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258886 | &nbsp;&nbsp;$16267881 | &nbsp;&nbsp;&nbsp;357152 | &nbsp;&nbsp;$4219060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75704 | &nbsp;&nbsp;$973844 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1653526 | &nbsp;&nbsp;&nbsp;&nbsp;104172167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;506319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6997334 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (1364643) | &nbsp;&nbsp;&nbsp;(84230078) | &nbsp;&nbsp;&nbsp;&nbsp;(4204576) | &nbsp;&nbsp;&nbsp;(265362065) | &nbsp;&nbsp;(695011) | &nbsp;&nbsp;&nbsp;(8749576) | &nbsp;&nbsp;(2080687) | &nbsp;&nbsp;&nbsp;(28212129) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;(191724) | &nbsp;&nbsp;$(16926047) | &nbsp;&nbsp;&nbsp;&nbsp;(2292164) | &nbsp;&nbsp;$(144922017) | &nbsp;&nbsp;(337859) | &nbsp;&nbsp;$(4530516) | &nbsp;&nbsp;(1498664) | &nbsp;&nbsp;$(20240951) |
| **Class 2** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3802 | &nbsp;&nbsp;$215111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8562 | &nbsp;&nbsp;$534606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8687 | &nbsp;&nbsp;$109736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15287 | &nbsp;&nbsp;$202843 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8405337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;586174 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;(159586) | &nbsp;&nbsp;&nbsp;&nbsp;(9516135) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(243696) | &nbsp;&nbsp;&nbsp;&nbsp;(15016141) | &nbsp;&nbsp;&nbsp;(62981) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(773670) | &nbsp;&nbsp;&nbsp;&nbsp;(105509) | &nbsp;&nbsp;&nbsp;&nbsp;(1420057) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;(155784) | &nbsp;&nbsp;$(9301024) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(97971) | &nbsp;&nbsp;$(6076198) | &nbsp;&nbsp;&nbsp;(54294) | &nbsp;&nbsp;$(663934) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47807) | &nbsp;&nbsp;$(631040) |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SA AB Growth Portfolio** | **SA AB Growth Portfolio** | **SA AB Growth Portfolio** | **SA AB Growth Portfolio** | &nbsp;&nbsp;**SA AB Small & Mid Cap Value Portfolio** | &nbsp;&nbsp;**SA AB Small & Mid Cap Value Portfolio** | &nbsp;&nbsp;**SA AB Small & Mid Cap Value Portfolio** | &nbsp;&nbsp;**SA AB Small & Mid Cap Value Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;403036 | &nbsp;&nbsp;$21953027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450132 | &nbsp;&nbsp;$27364696 | &nbsp;&nbsp;&nbsp;1730564 | &nbsp;&nbsp;$21370989 | &nbsp;&nbsp;&nbsp;1290877 | &nbsp;&nbsp;$16689630 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1213202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71906488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1986473 | &nbsp;&nbsp;&nbsp;&nbsp;26956443 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (1006832) | &nbsp;&nbsp;&nbsp;(59743252) | &nbsp;&nbsp;&nbsp;&nbsp;(1528338) | &nbsp;&nbsp;&nbsp;&nbsp;(91041893) | &nbsp;&nbsp;(1905989) | &nbsp;&nbsp;&nbsp;(23517353) | &nbsp;&nbsp;(4179312) | &nbsp;&nbsp;&nbsp;(55238638) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;(603796) | &nbsp;&nbsp;$(37790225) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134996 | &nbsp;&nbsp;$8229291 | &nbsp;&nbsp;&nbsp;&nbsp;(175425) | &nbsp;&nbsp;$(2146364) | &nbsp;&nbsp;&nbsp;&nbsp;(901962) | &nbsp;&nbsp;$(11592565) |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| &nbsp;&nbsp;&nbsp;(951304) | &nbsp;&nbsp;$(64017296) | &nbsp;&nbsp;&nbsp;&nbsp;(2255139) | &nbsp;&nbsp;$(142768924) | &nbsp;&nbsp;&nbsp;&nbsp;(567578) | &nbsp;&nbsp;$(7340814) | &nbsp;&nbsp;(2448433) | &nbsp;&nbsp;$(32464556) |
|  | **SA BlackRock Multi-Factor 70/30 Portfolio** | **SA BlackRock Multi-Factor 70/30 Portfolio** | **SA BlackRock Multi-Factor 70/30 Portfolio** | **SA BlackRock Multi-Factor 70/30 Portfolio** | &nbsp;&nbsp;**SA Emerging Markets Equity Index Portfolio** | &nbsp;&nbsp;**SA Emerging Markets Equity Index Portfolio** | &nbsp;&nbsp;**SA Emerging Markets Equity Index Portfolio** | &nbsp;&nbsp;**SA Emerging Markets Equity Index Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;$2347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;$1372 | &nbsp;&nbsp;&nbsp;&nbsp;349083 | &nbsp;&nbsp;$5181320 | &nbsp;&nbsp;&nbsp;&nbsp;315140 | &nbsp;&nbsp;$4390741 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;101629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1542734 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(264) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4718) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3413) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57051) | &nbsp;&nbsp;&nbsp;&nbsp;(338585) | &nbsp;&nbsp;&nbsp;&nbsp;(5176492) | &nbsp;&nbsp;&nbsp;&nbsp;(733823) | &nbsp;&nbsp;&nbsp;(10646783) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(139) | &nbsp;&nbsp;$(2371) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3333) | &nbsp;&nbsp;$(55679) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10498 | &nbsp;&nbsp;$4828 | &nbsp;&nbsp;&nbsp;&nbsp;(317054) | &nbsp;&nbsp;$(4713308) |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;395852 | &nbsp;&nbsp;$7100408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559208 | &nbsp;&nbsp;$9570146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50744 | &nbsp;&nbsp;$781367 | &nbsp;&nbsp;&nbsp;&nbsp;225165 | &nbsp;&nbsp;$3187139 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365631 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;(300394) | &nbsp;&nbsp;&nbsp;&nbsp;(5451676) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(655925) | &nbsp;&nbsp;&nbsp;&nbsp;(11285179) | &nbsp;&nbsp;&nbsp;&nbsp;(206573) | &nbsp;&nbsp;&nbsp;&nbsp;(3115537) | &nbsp;&nbsp;&nbsp;&nbsp;(171426) | &nbsp;&nbsp;&nbsp;&nbsp;(2506099) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95458 | &nbsp;&nbsp;$1648732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(96717) | &nbsp;&nbsp;$(1715033) | &nbsp;&nbsp;&nbsp;&nbsp;(155829) | &nbsp;&nbsp;$(2334170) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78001 | &nbsp;&nbsp;$1046671 |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95319 | &nbsp;&nbsp;$1646361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(100050) | &nbsp;&nbsp;$(1770712) | &nbsp;&nbsp;&nbsp;&nbsp;(145331) | &nbsp;&nbsp;$(2329342) | &nbsp;&nbsp;&nbsp;&nbsp;(239053) | &nbsp;&nbsp;$(3666637) |
|  | **SA Federated Hermes Corporate Bond Portfolio** | **SA Federated Hermes Corporate Bond Portfolio** | **SA Federated Hermes Corporate Bond Portfolio** | **SA Federated Hermes Corporate Bond Portfolio** | &nbsp;&nbsp;**SA Fidelity Institutional AM® Global Equities Portfolio** | &nbsp;&nbsp;**SA Fidelity Institutional AM® Global Equities Portfolio** | &nbsp;&nbsp;**SA Fidelity Institutional AM® Global Equities Portfolio** | &nbsp;&nbsp;**SA Fidelity Institutional AM® Global Equities Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;3795927 | &nbsp;&nbsp;$44417890 | &nbsp;&nbsp;&nbsp;&nbsp;7400313 | &nbsp;&nbsp;$85114632 | &nbsp;&nbsp;&nbsp;&nbsp;872273 | &nbsp;&nbsp;$18168432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35525 | &nbsp;&nbsp;$770170 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1217972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14055400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;950969 | &nbsp;&nbsp;&nbsp;&nbsp;20759657 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (2978291) | &nbsp;&nbsp;&nbsp;(34807196) | &nbsp;&nbsp;&nbsp;&nbsp;(6644593) | &nbsp;&nbsp;&nbsp;&nbsp;(77359418) | &nbsp;&nbsp;&nbsp;&nbsp;(789711) | &nbsp;&nbsp;&nbsp;(17269466) | &nbsp;&nbsp;(2845347) | &nbsp;&nbsp;&nbsp;(62102546) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;817636 | &nbsp;&nbsp;$9610694 | &nbsp;&nbsp;&nbsp;&nbsp;1973692 | &nbsp;&nbsp;$21810614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82562 | &nbsp;&nbsp;$898966 | &nbsp;&nbsp;(1858853) | &nbsp;&nbsp;$(40572719) |
| **Class 2** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87216 | &nbsp;&nbsp;$1014821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40713 | &nbsp;&nbsp;$472552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;877 | &nbsp;&nbsp;$20269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2221 | &nbsp;&nbsp;$47692 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221769 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;(72708) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(851293) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(116366) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1354559) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10992) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(239466) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17618) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(380048) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14508 | &nbsp;&nbsp;$163528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48235) | &nbsp;&nbsp;$(565061) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10115) | &nbsp;&nbsp;$(219197) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5215) | &nbsp;&nbsp;$(110587) |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;5768670 | &nbsp;&nbsp;$67857363 | &nbsp;&nbsp;&nbsp;&nbsp;11399756 | &nbsp;&nbsp;$130342228 | &nbsp;&nbsp;&nbsp;&nbsp;103255 | &nbsp;&nbsp;$2207249 | &nbsp;&nbsp;&nbsp;&nbsp;202772 | &nbsp;&nbsp;$4339329 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2842436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32517464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;216862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4660373 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (7227773) | &nbsp;&nbsp;&nbsp;(83633114) | &nbsp;&nbsp;&nbsp;&nbsp;(6137910) | &nbsp;&nbsp;&nbsp;&nbsp;(70726539) | &nbsp;&nbsp;&nbsp;&nbsp;(255626) | &nbsp;&nbsp;&nbsp;&nbsp;(5522684) | &nbsp;&nbsp;&nbsp;&nbsp;(440942) | &nbsp;&nbsp;&nbsp;&nbsp;(9334548) |
| &nbsp;&nbsp;&nbsp;Total<br>| (1459103) | &nbsp;&nbsp;$(15775751) | &nbsp;&nbsp;&nbsp;&nbsp;8104282 | &nbsp;&nbsp;$92133153 | &nbsp;&nbsp;&nbsp;&nbsp;(152371) | &nbsp;&nbsp;$(3315435) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21308) | &nbsp;&nbsp;$(334846) |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| &nbsp;&nbsp;&nbsp;(626959) | &nbsp;&nbsp;$(6001529) | &nbsp;&nbsp;&nbsp;&nbsp;10029739 | &nbsp;&nbsp;$113378706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(79924) | &nbsp;&nbsp;$(2635666) | &nbsp;&nbsp;(1885376) | &nbsp;&nbsp;$(41018152) |
|  | **SA Fidelity Institutional AM® International Growth Portfolio** | **SA Fidelity Institutional AM® International Growth Portfolio** | **SA Fidelity Institutional AM® International Growth Portfolio** | **SA Fidelity Institutional AM® International Growth Portfolio** | &nbsp;&nbsp;**SA Fidelity Institutional AM® Real Estate Portfolio** | &nbsp;&nbsp;**SA Fidelity Institutional AM® Real Estate Portfolio** | &nbsp;&nbsp;**SA Fidelity Institutional AM® Real Estate Portfolio** | &nbsp;&nbsp;**SA Fidelity Institutional AM® Real Estate Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;1335979 | &nbsp;&nbsp;$25887117 | &nbsp;&nbsp;&nbsp;&nbsp;1265801 | &nbsp;&nbsp;$23633814 | &nbsp;&nbsp;&nbsp;&nbsp;947338 | &nbsp;&nbsp;$11824241 | &nbsp;&nbsp;&nbsp;&nbsp;457319 | &nbsp;&nbsp;$6174169 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3820763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;197797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2614882 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (1133728) | &nbsp;&nbsp;&nbsp;(22855933) | &nbsp;&nbsp;&nbsp;&nbsp;(3865153) | &nbsp;&nbsp;&nbsp;&nbsp;(72543079) | &nbsp;&nbsp;&nbsp;&nbsp;(778307) | &nbsp;&nbsp;&nbsp;&nbsp;(9918505) | &nbsp;&nbsp;(1711071) | &nbsp;&nbsp;&nbsp;(21500943) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;202251 | &nbsp;&nbsp;$3031184 | &nbsp;&nbsp;&nbsp;&nbsp;(2398892) | &nbsp;&nbsp;$(45088502) | &nbsp;&nbsp;&nbsp;&nbsp;169031 | &nbsp;&nbsp;$1905736 | &nbsp;&nbsp;(1055955) | &nbsp;&nbsp;$(12711892) |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SA Fidelity Institutional AM® International Growth Portfolio** | **SA Fidelity Institutional AM® International Growth Portfolio** | **SA Fidelity Institutional AM® International Growth Portfolio** | **SA Fidelity Institutional AM® International Growth Portfolio** | &nbsp;&nbsp;**SA Fidelity Institutional AM® Real Estate Portfolio** | &nbsp;&nbsp;**SA Fidelity Institutional AM® Real Estate Portfolio** | &nbsp;&nbsp;**SA Fidelity Institutional AM® Real Estate Portfolio** | &nbsp;&nbsp;**SA Fidelity Institutional AM® Real Estate Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 2** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4325 | &nbsp;&nbsp;$55427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6394 | &nbsp;&nbsp;$78901 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62270 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13184) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(170501) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(49261) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(625150) |
| &nbsp;&nbsp;&nbsp;Total<br>|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8859) | &nbsp;&nbsp;$(115074) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38150) | &nbsp;&nbsp;$(483979) |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81746 | &nbsp;&nbsp;$1669543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136448 | &nbsp;&nbsp;$2497721 | &nbsp;&nbsp;&nbsp;&nbsp;760996 | &nbsp;&nbsp;$9466966 | &nbsp;&nbsp;&nbsp;1152860 | &nbsp;&nbsp;$13973510 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;210472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2748766 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;(115287) | &nbsp;&nbsp;&nbsp;&nbsp;(2303229) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(127035) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2339655) | &nbsp;&nbsp;&nbsp;&nbsp;(987266) | &nbsp;&nbsp;&nbsp;(12456695) | &nbsp;&nbsp;(2714662) | &nbsp;&nbsp;&nbsp;(34184530) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;(33541) | &nbsp;&nbsp;$(633686) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22315 | &nbsp;&nbsp;$402044 | &nbsp;&nbsp;&nbsp;&nbsp;(226270) | &nbsp;&nbsp;$(2989729) | &nbsp;&nbsp;(1351330) | &nbsp;&nbsp;$(17462254) |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| &nbsp;&nbsp;&nbsp;&nbsp;168710 | &nbsp;&nbsp;$2397498 | &nbsp;&nbsp;&nbsp;&nbsp;(2376577) | &nbsp;&nbsp;$(44686458) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(66098) | &nbsp;&nbsp;$(1199067) | &nbsp;&nbsp;(2445435) | &nbsp;&nbsp;$(30658125) |
|  | **SA Fixed Income Index Portfolio** | **SA Fixed Income Index Portfolio** | **SA Fixed Income Index Portfolio** | **SA Fixed Income Index Portfolio** | &nbsp;&nbsp;**SA Fixed Income Intermediate Index Portfolio** | &nbsp;&nbsp;**SA Fixed Income Intermediate Index Portfolio** | &nbsp;&nbsp;**SA Fixed Income Intermediate Index Portfolio** | &nbsp;&nbsp;**SA Fixed Income Intermediate Index Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;4320388 | &nbsp;&nbsp;$41366919 | &nbsp;&nbsp;&nbsp;&nbsp;6201749 | &nbsp;&nbsp;$59405815 | &nbsp;&nbsp;&nbsp;3644397 | &nbsp;&nbsp;$37178161 | &nbsp;&nbsp;&nbsp;3749561 | &nbsp;&nbsp;$37336031 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1380598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12963811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1169112 | &nbsp;&nbsp;&nbsp;&nbsp;11585896 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (4177698) | &nbsp;&nbsp;&nbsp;(39814170) | &nbsp;&nbsp;&nbsp;&nbsp;(7868051) | &nbsp;&nbsp;&nbsp;&nbsp;(74787906) | &nbsp;&nbsp;(3088180) | &nbsp;&nbsp;&nbsp;(31283795) | &nbsp;&nbsp;(8114897) | &nbsp;&nbsp;&nbsp;(81376011) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;142690 | &nbsp;&nbsp;$1552749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(285704) | &nbsp;&nbsp;$(2418280) | &nbsp;&nbsp;&nbsp;&nbsp;556217 | &nbsp;&nbsp;$5894366 | &nbsp;&nbsp;(3196224) | &nbsp;&nbsp;$(32454084) |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;1049001 | &nbsp;&nbsp;$9994015 | &nbsp;&nbsp;&nbsp;&nbsp;2030031 | &nbsp;&nbsp;$19050761 | &nbsp;&nbsp;&nbsp;&nbsp;889190 | &nbsp;&nbsp;$9004978 | &nbsp;&nbsp;&nbsp;&nbsp;939991 | &nbsp;&nbsp;$9317890 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;132232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1303807 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (1048886) | &nbsp;&nbsp;&nbsp;&nbsp;(9923840) | &nbsp;&nbsp;&nbsp;&nbsp;(2187753) | &nbsp;&nbsp;&nbsp;&nbsp;(20664248) | &nbsp;&nbsp;&nbsp;&nbsp;(680469) | &nbsp;&nbsp;&nbsp;&nbsp;(6838987) | &nbsp;&nbsp;&nbsp;&nbsp;(779169) | &nbsp;&nbsp;&nbsp;&nbsp;(7732106) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115 | &nbsp;&nbsp;$70175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88557 | &nbsp;&nbsp;$686762 | &nbsp;&nbsp;&nbsp;&nbsp;208721 | &nbsp;&nbsp;$2165991 | &nbsp;&nbsp;&nbsp;&nbsp;293054 | &nbsp;&nbsp;$2889591 |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| &nbsp;&nbsp;&nbsp;&nbsp;142805 | &nbsp;&nbsp;$1622924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(197147) | &nbsp;&nbsp;$(1731518) | &nbsp;&nbsp;&nbsp;&nbsp;764938 | &nbsp;&nbsp;$8060357 | &nbsp;&nbsp;(2903170) | &nbsp;&nbsp;$(29564493) |
|  | **SA Franklin BW U.S. Large Cap Value Portfolio** | **SA Franklin BW U.S. Large Cap Value Portfolio** | **SA Franklin BW U.S. Large Cap Value Portfolio** | **SA Franklin BW U.S. Large Cap Value Portfolio** | &nbsp;&nbsp;**SA Franklin Small Company Value Portfolio** | &nbsp;&nbsp;**SA Franklin Small Company Value Portfolio** | &nbsp;&nbsp;**SA Franklin Small Company Value Portfolio** | &nbsp;&nbsp;**SA Franklin Small Company Value Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;2245065 | &nbsp;&nbsp;$46457836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137279 | &nbsp;&nbsp;$2798145 | &nbsp;&nbsp;&nbsp;&nbsp;824593 | &nbsp;&nbsp;$12561341 | &nbsp;&nbsp;&nbsp;&nbsp;465820 | &nbsp;&nbsp;$8128052 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1078602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23384101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;204436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3726864 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (2729068) | &nbsp;&nbsp;&nbsp;(58238551) | &nbsp;&nbsp;&nbsp;&nbsp;(7710781) | &nbsp;&nbsp;&nbsp;(157039113) | &nbsp;&nbsp;&nbsp;&nbsp;(877123) | &nbsp;&nbsp;&nbsp;(13805478) | &nbsp;&nbsp;(1504242) | &nbsp;&nbsp;&nbsp;(25100828) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;(484003) | &nbsp;&nbsp;$(11780715) | &nbsp;&nbsp;&nbsp;&nbsp;(6494900) | &nbsp;&nbsp;$(130856867) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(52530) | &nbsp;&nbsp;$(1244137) | &nbsp;&nbsp;&nbsp;&nbsp;(833986) | &nbsp;&nbsp;$(13245912) |
| **Class 2** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58587 | &nbsp;&nbsp;$1240764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19659 | &nbsp;&nbsp;$386811 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1180324 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;(130583) | &nbsp;&nbsp;&nbsp;&nbsp;(2774609) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(332823) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6783366) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;(71996) | &nbsp;&nbsp;$(1533845) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(258796) | &nbsp;&nbsp;$(5216231) |  |  |  |  |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;619894 | &nbsp;&nbsp;$13366709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433838 | &nbsp;&nbsp;$8604911 | &nbsp;&nbsp;&nbsp;&nbsp;725612 | &nbsp;&nbsp;$11473881 | &nbsp;&nbsp;&nbsp;&nbsp;614910 | &nbsp;&nbsp;$9888750 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12551776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;351978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6300399 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (1679926) | &nbsp;&nbsp;&nbsp;(35581807) | &nbsp;&nbsp;&nbsp;&nbsp;(4180079) | &nbsp;&nbsp;&nbsp;&nbsp;(84590801) | &nbsp;&nbsp;&nbsp;&nbsp;(823779) | &nbsp;&nbsp;&nbsp;(13089042) | &nbsp;&nbsp;(1843159) | &nbsp;&nbsp;&nbsp;(30426620) |
| &nbsp;&nbsp;&nbsp;Total<br>| (1060032) | &nbsp;&nbsp;$(22215098) | &nbsp;&nbsp;&nbsp;&nbsp;(3162166) | &nbsp;&nbsp;$(63434114) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(98167) | &nbsp;&nbsp;$(1615161) | &nbsp;&nbsp;&nbsp;&nbsp;(876271) | &nbsp;&nbsp;$(14237471) |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| (1616031) | &nbsp;&nbsp;$(35529658) | &nbsp;&nbsp;&nbsp;&nbsp;(9915862) | &nbsp;&nbsp;$(199507212) | &nbsp;&nbsp;&nbsp;&nbsp;(150697) | &nbsp;&nbsp;$(2859298) | &nbsp;&nbsp;(1710257) | &nbsp;&nbsp;$(27483383) |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SA Franklin Systematic U.S. Large Cap Core Portfolio** | **SA Franklin Systematic U.S. Large Cap Core Portfolio** | **SA Franklin Systematic U.S. Large Cap Core Portfolio** | **SA Franklin Systematic U.S. Large Cap Core Portfolio** | &nbsp;&nbsp;**SA Franklin Systematic U.S. Large Cap Value Portfolio** | &nbsp;&nbsp;**SA Franklin Systematic U.S. Large Cap Value Portfolio** | &nbsp;&nbsp;**SA Franklin Systematic U.S. Large Cap Value Portfolio** | &nbsp;&nbsp;**SA Franklin Systematic U.S. Large Cap Value Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| 3877476 | &nbsp;&nbsp;$86493013 | &nbsp;&nbsp;&nbsp;&nbsp;3149530 | &nbsp;&nbsp;$68294921 | &nbsp;&nbsp;&nbsp;6865294 | &nbsp;&nbsp;$89991711 | &nbsp;&nbsp;11483360 | &nbsp;&nbsp;$146219287 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6037864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3244898 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;(998395) | &nbsp;&nbsp;&nbsp;(22520877) | &nbsp;&nbsp;&nbsp;&nbsp;(1457777) | &nbsp;&nbsp;&nbsp;(31786536) | &nbsp;&nbsp;(1997079) | &nbsp;&nbsp;&nbsp;(26255571) | &nbsp;&nbsp;(4184837) | &nbsp;&nbsp;&nbsp;&nbsp;(53054960) |
| &nbsp;&nbsp;&nbsp;Total<br>| 2879081 | &nbsp;&nbsp;$63972136 | &nbsp;&nbsp;&nbsp;&nbsp;1955530 | &nbsp;&nbsp;$42546249 | &nbsp;&nbsp;&nbsp;4868215 | &nbsp;&nbsp;$63736140 | &nbsp;&nbsp;&nbsp;7535204 | &nbsp;&nbsp;$96409225 |
| **Class 2** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6540 | &nbsp;&nbsp;$80430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45264 | &nbsp;&nbsp;$533140 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55666 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17888) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(232769) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(97502) | &nbsp;&nbsp;&nbsp;&nbsp;(1233019) |
| &nbsp;&nbsp;&nbsp;Total<br>|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11348) | &nbsp;&nbsp;$(152339) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48169) | &nbsp;&nbsp;$(644213) |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;206229 | &nbsp;&nbsp;$4533844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312662 | &nbsp;&nbsp;$6683619 | &nbsp;&nbsp;&nbsp;&nbsp;870974 | &nbsp;&nbsp;$11355996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;879722 | &nbsp;&nbsp;$10936077 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2313949 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;(141278) | &nbsp;&nbsp;&nbsp;&nbsp;(3177383) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(133221) | &nbsp;&nbsp;&nbsp;&nbsp;(2773363) | &nbsp;&nbsp;(1584147) | &nbsp;&nbsp;&nbsp;(20392470) | &nbsp;&nbsp;(3415218) | &nbsp;&nbsp;&nbsp;&nbsp;(42206190) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;64951 | &nbsp;&nbsp;$1356461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204600 | &nbsp;&nbsp;$4481366 | &nbsp;&nbsp;&nbsp;&nbsp;(713173) | &nbsp;&nbsp;$(9036474) | &nbsp;&nbsp;(2363199) | &nbsp;&nbsp;$(28956164) |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| 2944032 | &nbsp;&nbsp;$65328597 | &nbsp;&nbsp;&nbsp;&nbsp;2160130 | &nbsp;&nbsp;$47027615 | &nbsp;&nbsp;&nbsp;4143694 | &nbsp;&nbsp;$54547327 | &nbsp;&nbsp;&nbsp;5123836 | &nbsp;&nbsp;$66808848 |
|  | **SA Franklin Tactical Opportunities Portfolio** | **SA Franklin Tactical Opportunities Portfolio** | **SA Franklin Tactical Opportunities Portfolio** | **SA Franklin Tactical Opportunities Portfolio** | &nbsp;&nbsp;**SA Global Index Allocation 60/40 Portfolio** | &nbsp;&nbsp;**SA Global Index Allocation 60/40 Portfolio** | &nbsp;&nbsp;**SA Global Index Allocation 60/40 Portfolio** | &nbsp;&nbsp;**SA Global Index Allocation 60/40 Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133 | &nbsp;&nbsp;$1889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714 | &nbsp;&nbsp;$9074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;$2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5514 | &nbsp;&nbsp;$100929 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3468 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;(1728) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23064) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(367) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4778) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3157) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57867) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;(1595) | &nbsp;&nbsp;$(21175) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408 | &nbsp;&nbsp;$5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2548 | &nbsp;&nbsp;$46530 |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;163867 | &nbsp;&nbsp;$2216558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456122 | &nbsp;&nbsp;$5834799 | &nbsp;&nbsp;&nbsp;&nbsp;229884 | &nbsp;&nbsp;$4251557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481178 | &nbsp;&nbsp;$8562025 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4614197 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;(467524) | &nbsp;&nbsp;&nbsp;&nbsp;(6319871) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(734490) | &nbsp;&nbsp;&nbsp;&nbsp;(9414411) | &nbsp;&nbsp;&nbsp;&nbsp;(370900) | &nbsp;&nbsp;&nbsp;&nbsp;(6699414) | &nbsp;&nbsp;&nbsp;&nbsp;(577878) | &nbsp;&nbsp;&nbsp;&nbsp;(10352774) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;(303657) | &nbsp;&nbsp;$(4103313) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(245427) | &nbsp;&nbsp;$(3138208) | &nbsp;&nbsp;&nbsp;&nbsp;(141016) | &nbsp;&nbsp;$(2447857) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157118 | &nbsp;&nbsp;$2823448 |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| &nbsp;&nbsp;(305252) | &nbsp;&nbsp;$(4124488) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(245019) | &nbsp;&nbsp;$(3133093) | &nbsp;&nbsp;&nbsp;&nbsp;(141016) | &nbsp;&nbsp;$(2447857) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159666 | &nbsp;&nbsp;$2869978 |
|  | **SA Global Index Allocation 75/25 Portfolio** | **SA Global Index Allocation 75/25 Portfolio** | **SA Global Index Allocation 75/25 Portfolio** | **SA Global Index Allocation 75/25 Portfolio** | &nbsp;&nbsp;**SA Global Index Allocation 90/10 Portfolio** | &nbsp;&nbsp;**SA Global Index Allocation 90/10 Portfolio** | &nbsp;&nbsp;**SA Global Index Allocation 90/10 Portfolio** | &nbsp;&nbsp;**SA Global Index Allocation 90/10 Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583 | &nbsp;&nbsp;$10955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471 | &nbsp;&nbsp;$9371 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173743 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(537) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10471) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(490) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9406) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13780) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(280720) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19364) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(397001) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(537) | &nbsp;&nbsp;$(10471) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;857 | &nbsp;&nbsp;$16337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13780) | &nbsp;&nbsp;$(280720) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10430) | &nbsp;&nbsp;$(213887) |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;153521 | &nbsp;&nbsp;$3038476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373634 | &nbsp;&nbsp;$7047003 | &nbsp;&nbsp;&nbsp;&nbsp;467989 | &nbsp;&nbsp;$9806069 | &nbsp;&nbsp;&nbsp;1278426 | &nbsp;&nbsp;$25476197 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3456663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683270 | &nbsp;&nbsp;&nbsp;&nbsp;13952373 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;(356420) | &nbsp;&nbsp;&nbsp;&nbsp;(6956516) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(578547) | &nbsp;&nbsp;&nbsp;(11056712) | &nbsp;&nbsp;(1183718) | &nbsp;&nbsp;&nbsp;(24101788) | &nbsp;&nbsp;(2082852) | &nbsp;&nbsp;&nbsp;&nbsp;(42027709) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;(202899) | &nbsp;&nbsp;$(3918040) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26182) | &nbsp;&nbsp;$(553046) | &nbsp;&nbsp;&nbsp;&nbsp;(715729) | &nbsp;&nbsp;$(14295719) | &nbsp;&nbsp;&nbsp;&nbsp;(121156) | &nbsp;&nbsp;$(2599139) |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| &nbsp;&nbsp;(203436) | &nbsp;&nbsp;$(3928511) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25325) | &nbsp;&nbsp;$(536709) | &nbsp;&nbsp;&nbsp;&nbsp;(729509) | &nbsp;&nbsp;$(14576439) | &nbsp;&nbsp;&nbsp;&nbsp;(131586) | &nbsp;&nbsp;$(2813026) |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SA Goldman Sachs Multi-Asset Insights Portfolio** | **SA Goldman Sachs Multi-Asset Insights Portfolio** | **SA Goldman Sachs Multi-Asset Insights Portfolio** | **SA Goldman Sachs Multi-Asset Insights Portfolio** | &nbsp;&nbsp;**SA Index Allocation 60/40 Portfolio** | &nbsp;&nbsp;**SA Index Allocation 60/40 Portfolio** | &nbsp;&nbsp;**SA Index Allocation 60/40 Portfolio** | &nbsp;&nbsp;**SA Index Allocation 60/40 Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;$77 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;$210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;$14 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17450 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(413) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(67) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(772) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2150) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30146) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(222) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3087) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36) | &nbsp;&nbsp;$(413) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1329 | &nbsp;&nbsp;$15168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2135) | &nbsp;&nbsp;$(29936) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1016 | &nbsp;&nbsp;$14377 |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;101350 | &nbsp;&nbsp;$1154061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327801 | &nbsp;&nbsp;$3724797 | &nbsp;&nbsp;&nbsp;&nbsp;446247 | &nbsp;&nbsp;$6182955 | &nbsp;&nbsp;&nbsp;&nbsp;802925 | &nbsp;&nbsp;$11068463 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4419282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;813529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11454494 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;(364005) | &nbsp;&nbsp;&nbsp;&nbsp;(4146187) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(439318) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5063381) | &nbsp;&nbsp;(1370425) | &nbsp;&nbsp;&nbsp;(19336633) | &nbsp;&nbsp;(2027156) | &nbsp;&nbsp;&nbsp;&nbsp;(28095948) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;(262655) | &nbsp;&nbsp;$(2992126) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277346 | &nbsp;&nbsp;$3080698 | &nbsp;&nbsp;&nbsp;&nbsp;(924178) | &nbsp;&nbsp;$(13153678) | &nbsp;&nbsp;&nbsp;&nbsp;(410702) | &nbsp;&nbsp;$(5572991) |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| &nbsp;&nbsp;&nbsp;(262691) | &nbsp;&nbsp;$(2992539) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278675 | &nbsp;&nbsp;$3095866 | &nbsp;&nbsp;&nbsp;&nbsp;(926313) | &nbsp;&nbsp;$(13183614) | &nbsp;&nbsp;&nbsp;&nbsp;(409686) | &nbsp;&nbsp;$(5558614) |
|  | **SA Index Allocation 80/20 Portfolio** | **SA Index Allocation 80/20 Portfolio** | **SA Index Allocation 80/20 Portfolio** | **SA Index Allocation 80/20 Portfolio** | &nbsp;&nbsp;**SA Index Allocation 90/10 Portfolio** | &nbsp;&nbsp;**SA Index Allocation 90/10 Portfolio** | &nbsp;&nbsp;**SA Index Allocation 90/10 Portfolio** | &nbsp;&nbsp;**SA Index Allocation 90/10 Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564 | &nbsp;&nbsp;$8732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501 | &nbsp;&nbsp;$7908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1468 | &nbsp;&nbsp;$26003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28808 | &nbsp;&nbsp;$463988 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403863 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;(26425) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(399853) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43848) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(673697) | &nbsp;&nbsp;&nbsp;&nbsp;(144479) | &nbsp;&nbsp;&nbsp;&nbsp;(2408131) | &nbsp;&nbsp;&nbsp;&nbsp;(101198) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1754127) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;(25861) | &nbsp;&nbsp;$(391121) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34775) | &nbsp;&nbsp;$(527267) | &nbsp;&nbsp;&nbsp;&nbsp;(143011) | &nbsp;&nbsp;$(2382128) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48869) | &nbsp;&nbsp;$(886276) |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;558900 | &nbsp;&nbsp;$8851210 | &nbsp;&nbsp;&nbsp;&nbsp;1118198 | &nbsp;&nbsp;$17357757 | &nbsp;&nbsp;&nbsp;1123178 | &nbsp;&nbsp;$19071900 | &nbsp;&nbsp;&nbsp;2560498 | &nbsp;&nbsp;$42459931 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1413685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22746198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;3670056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62794653 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (2184660) | &nbsp;&nbsp;&nbsp;(34972390) | &nbsp;&nbsp;&nbsp;&nbsp;(3959092) | &nbsp;&nbsp;&nbsp;&nbsp;(62289576) | &nbsp;&nbsp;(5271479) | &nbsp;&nbsp;&nbsp;(89343518) | &nbsp;&nbsp;(8270691) | &nbsp;&nbsp;&nbsp;(137592936) |
| &nbsp;&nbsp;&nbsp;Total<br>| (1625760) | &nbsp;&nbsp;$(26121180) | &nbsp;&nbsp;&nbsp;&nbsp;(1427209) | &nbsp;&nbsp;$(22185621) | &nbsp;&nbsp;(4148301) | &nbsp;&nbsp;$(70271618) | &nbsp;&nbsp;(2040137) | &nbsp;&nbsp;$(32338352) |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| (1651621) | &nbsp;&nbsp;$(26512301) | &nbsp;&nbsp;&nbsp;&nbsp;(1461984) | &nbsp;&nbsp;$(22712888) | &nbsp;&nbsp;(4291312) | &nbsp;&nbsp;$(72653746) | &nbsp;&nbsp;(2089006) | &nbsp;&nbsp;$(33224628) |
|  | **SA International Index Portfolio** | **SA International Index Portfolio** | **SA International Index Portfolio** | **SA International Index Portfolio** | &nbsp;&nbsp;**SA Invesco Growth Opportunities Portfolio** | &nbsp;&nbsp;**SA Invesco Growth Opportunities Portfolio** | &nbsp;&nbsp;**SA Invesco Growth Opportunities Portfolio** | &nbsp;&nbsp;**SA Invesco Growth Opportunities Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;6707869 | &nbsp;&nbsp;$95086492 | &nbsp;&nbsp;&nbsp;&nbsp;11100539 | &nbsp;&nbsp;$151004583 | &nbsp;&nbsp;&nbsp;2852146 | &nbsp;&nbsp;$17890081 | &nbsp;&nbsp;&nbsp;1218462 | &nbsp;&nbsp;$8596180 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1512096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20307451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (4123667) | &nbsp;&nbsp;&nbsp;(59444015) | &nbsp;&nbsp;&nbsp;&nbsp;(9562882) | &nbsp;&nbsp;&nbsp;(128526260) | &nbsp;&nbsp;(2990417) | &nbsp;&nbsp;&nbsp;(19385267) | &nbsp;&nbsp;(4638138) | &nbsp;&nbsp;&nbsp;&nbsp;(32603431) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;2584202 | &nbsp;&nbsp;$35642477 | &nbsp;&nbsp;&nbsp;&nbsp;3049753 | &nbsp;&nbsp;$42785774 | &nbsp;&nbsp;&nbsp;&nbsp;(138271) | &nbsp;&nbsp;$(1495186) | &nbsp;&nbsp;(3419676) | &nbsp;&nbsp;$(24007251) |
| **Class 2** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14908 | &nbsp;&nbsp;$93611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7946 | &nbsp;&nbsp;$50017 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59595) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(342789) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(84945) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(530708) |
| &nbsp;&nbsp;&nbsp;Total<br>|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44687) | &nbsp;&nbsp;$(249178) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(76999) | &nbsp;&nbsp;$(480691) |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;169364 | &nbsp;&nbsp;$2435785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477421 | &nbsp;&nbsp;$6242423 | &nbsp;&nbsp;&nbsp;2147682 | &nbsp;&nbsp;$11555001 | &nbsp;&nbsp;&nbsp;&nbsp;824018 | &nbsp;&nbsp;$4705097 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;(292008) | &nbsp;&nbsp;&nbsp;&nbsp;(4101149) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(246389) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3277674) | &nbsp;&nbsp;(1774023) | &nbsp;&nbsp;&nbsp;(10126761) | &nbsp;&nbsp;(4437880) | &nbsp;&nbsp;&nbsp;&nbsp;(25962444) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;(122644) | &nbsp;&nbsp;$(1665364) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286640 | &nbsp;&nbsp;$3705442 | &nbsp;&nbsp;&nbsp;&nbsp;373659 | &nbsp;&nbsp;$1428240 | &nbsp;&nbsp;(3613862) | &nbsp;&nbsp;$(21257347) |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| &nbsp;&nbsp;2461558 | &nbsp;&nbsp;$33977113 | &nbsp;&nbsp;&nbsp;&nbsp;3336393 | &nbsp;&nbsp;$46491216 | &nbsp;&nbsp;&nbsp;&nbsp;190701 | &nbsp;&nbsp;$(316124) | &nbsp;&nbsp;(7110537) | &nbsp;&nbsp;$(45745289) |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SA Janus Focused Growth Portfolio** | **SA Janus Focused Growth Portfolio** | **SA Janus Focused Growth Portfolio** | **SA Janus Focused Growth Portfolio** | &nbsp;&nbsp;**SA JPMorgan Diversified Balanced Portfolio** | &nbsp;&nbsp;**SA JPMorgan Diversified Balanced Portfolio** | &nbsp;&nbsp;**SA JPMorgan Diversified Balanced Portfolio** | &nbsp;&nbsp;**SA JPMorgan Diversified Balanced Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;3017095 | &nbsp;&nbsp;$58914963 | &nbsp;&nbsp;&nbsp;&nbsp;1009012 | &nbsp;&nbsp;$20017589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140508 | &nbsp;&nbsp;$2781777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91926 | &nbsp;&nbsp;$1724602 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11284035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2182640 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (1228564) | &nbsp;&nbsp;&nbsp;(25278161) | &nbsp;&nbsp;&nbsp;&nbsp;(4633723) | &nbsp;&nbsp;&nbsp;&nbsp;(91068543) | &nbsp;&nbsp;&nbsp;&nbsp;(471023) | &nbsp;&nbsp;&nbsp;&nbsp;(9184903) | &nbsp;&nbsp;&nbsp;(1084900) | &nbsp;&nbsp;&nbsp;&nbsp;(20615846) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;1788531 | &nbsp;&nbsp;$33636802 | &nbsp;&nbsp;&nbsp;&nbsp;(3091439) | &nbsp;&nbsp;$(59766919) | &nbsp;&nbsp;&nbsp;&nbsp;(330515) | &nbsp;&nbsp;$(6403126) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(881898) | &nbsp;&nbsp;$(16708604) |
| **Class 2** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221 | &nbsp;&nbsp;$3943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45499 | &nbsp;&nbsp;$881950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37430 | &nbsp;&nbsp;$724566 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288366 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;(47269) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(911342) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(78457) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1491211) | &nbsp;&nbsp;&nbsp;&nbsp;(133875) | &nbsp;&nbsp;&nbsp;&nbsp;(2571499) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(161151) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3042448) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;(47048) | &nbsp;&nbsp;$(907399) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57748) | &nbsp;&nbsp;$(1075792) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(88376) | &nbsp;&nbsp;$(1689549) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(108986) | &nbsp;&nbsp;$(2029516) |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;527179 | &nbsp;&nbsp;$9287118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311645 | &nbsp;&nbsp;$5589698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162679 | &nbsp;&nbsp;$3170039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515427 | &nbsp;&nbsp;$9655810 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8966337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4594828 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (1060820) | &nbsp;&nbsp;&nbsp;(20701973) | &nbsp;&nbsp;&nbsp;&nbsp;(1833850) | &nbsp;&nbsp;&nbsp;&nbsp;(33108580) | &nbsp;&nbsp;(1186184) | &nbsp;&nbsp;&nbsp;&nbsp;(22790956) | &nbsp;&nbsp;&nbsp;(2093263) | &nbsp;&nbsp;&nbsp;&nbsp;(39328656) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;(533641) | &nbsp;&nbsp;$(11414855) | &nbsp;&nbsp;&nbsp;&nbsp;(1057146) | &nbsp;&nbsp;$(18552545) | &nbsp;&nbsp;(1023505) | &nbsp;&nbsp;$(19620917) | &nbsp;&nbsp;&nbsp;(1341233) | &nbsp;&nbsp;$(25078018) |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| &nbsp;&nbsp;1207842 | &nbsp;&nbsp;$21314548 | &nbsp;&nbsp;&nbsp;&nbsp;(4206333) | &nbsp;&nbsp;$(79395256) | &nbsp;&nbsp;(1442396) | &nbsp;&nbsp;$(27713592) | &nbsp;&nbsp;&nbsp;(2332117) | &nbsp;&nbsp;$(43816138) |
|  | **SA JPMorgan Emerging Markets Portfolio** | **SA JPMorgan Emerging Markets Portfolio** | **SA JPMorgan Emerging Markets Portfolio** | **SA JPMorgan Emerging Markets Portfolio** | &nbsp;&nbsp;**SA JPMorgan Equity-Income Portfolio** | &nbsp;&nbsp;**SA JPMorgan Equity-Income Portfolio** | &nbsp;&nbsp;**SA JPMorgan Equity-Income Portfolio** | &nbsp;&nbsp;**SA JPMorgan Equity-Income Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;927581 | &nbsp;&nbsp;$7715692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147340 | &nbsp;&nbsp;$1180736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;956008 | &nbsp;&nbsp;$30852588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67526 | &nbsp;&nbsp;$2318023 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1978277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1427628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48967631 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;(881971) | &nbsp;&nbsp;&nbsp;&nbsp;(7620288) | &nbsp;&nbsp;&nbsp;&nbsp;(1986453) | &nbsp;&nbsp;&nbsp;&nbsp;(15952897) | &nbsp;&nbsp;(2581969) | &nbsp;&nbsp;&nbsp;&nbsp;(88052984) | &nbsp;&nbsp;&nbsp;(6163688) | &nbsp;&nbsp;&nbsp;(216048502) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45610 | &nbsp;&nbsp;$95404 | &nbsp;&nbsp;&nbsp;&nbsp;(1601053) | &nbsp;&nbsp;$(12793884) | &nbsp;&nbsp;(1625961) | &nbsp;&nbsp;$(57200396) | &nbsp;&nbsp;&nbsp;(4668534) | &nbsp;&nbsp;$(164762848) |
| **Class 2** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;896 | &nbsp;&nbsp;$7604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6426 | &nbsp;&nbsp;$50359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12611 | &nbsp;&nbsp;$418842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15071 | &nbsp;&nbsp;$527841 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;921292 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;(13287) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(115563) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50627) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(401721) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(49916) | &nbsp;&nbsp;&nbsp;&nbsp;(1656135) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32866) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1113231) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;(12391) | &nbsp;&nbsp;$(107959) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37007) | &nbsp;&nbsp;$(291798) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37305) | &nbsp;&nbsp;$(1237293) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9104 | &nbsp;&nbsp;$335902 |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;127630 | &nbsp;&nbsp;$1121986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990050 | &nbsp;&nbsp;$7735019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407130 | &nbsp;&nbsp;$13789448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573605 | &nbsp;&nbsp;$19063854 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3179358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32163729 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (2012789) | &nbsp;&nbsp;&nbsp;(17149524) | &nbsp;&nbsp;&nbsp;&nbsp;(2739722) | &nbsp;&nbsp;&nbsp;&nbsp;(21792095) | &nbsp;&nbsp;&nbsp;&nbsp;(901657) | &nbsp;&nbsp;&nbsp;&nbsp;(29879710) | &nbsp;&nbsp;&nbsp;(1352258) | &nbsp;&nbsp;&nbsp;&nbsp;(46021796) |
| &nbsp;&nbsp;&nbsp;Total<br>| (1885159) | &nbsp;&nbsp;$(16027538) | &nbsp;&nbsp;&nbsp;&nbsp;(1361472) | &nbsp;&nbsp;$(10877718) | &nbsp;&nbsp;&nbsp;&nbsp;(494527) | &nbsp;&nbsp;$(16090262) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170410 | &nbsp;&nbsp;$5205787 |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| (1851940) | &nbsp;&nbsp;$(16040093) | &nbsp;&nbsp;&nbsp;&nbsp;(2999532) | &nbsp;&nbsp;$(23963400) | &nbsp;&nbsp;(2157793) | &nbsp;&nbsp;$(74527951) | &nbsp;&nbsp;&nbsp;(4489020) | &nbsp;&nbsp;$(159221159) |
|  | **SA JPMorgan Large Cap Core Portfolio** | **SA JPMorgan Large Cap Core Portfolio** | **SA JPMorgan Large Cap Core Portfolio** | **SA JPMorgan Large Cap Core Portfolio** | &nbsp;&nbsp;**SA JPMorgan MFS Core Bond Portfolio** | &nbsp;&nbsp;**SA JPMorgan MFS Core Bond Portfolio** | &nbsp;&nbsp;**SA JPMorgan MFS Core Bond Portfolio** | &nbsp;&nbsp;**SA JPMorgan MFS Core Bond Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;2323879 | &nbsp;&nbsp;$51616810 | &nbsp;&nbsp;&nbsp;&nbsp;5269404 | &nbsp;&nbsp;$126591310 | &nbsp;&nbsp;16455175 | &nbsp;&nbsp;$135811447 | &nbsp;&nbsp;&nbsp;22486371 | &nbsp;&nbsp;$181725310 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1847823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44255362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;4250778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34261273 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (1630787) | &nbsp;&nbsp;&nbsp;(37526920) | &nbsp;&nbsp;&nbsp;&nbsp;(4266581) | &nbsp;&nbsp;&nbsp;(101161364) | &nbsp;&nbsp;(9499055) | &nbsp;&nbsp;&nbsp;&nbsp;(77897100) | &nbsp;&nbsp;(21174484) | &nbsp;&nbsp;&nbsp;(173067795) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;693092 | &nbsp;&nbsp;$14089890 | &nbsp;&nbsp;&nbsp;&nbsp;2850646 | &nbsp;&nbsp;$69685308 | &nbsp;&nbsp;&nbsp;6956120 | &nbsp;&nbsp;$57914347 | &nbsp;&nbsp;&nbsp;&nbsp;5562665 | &nbsp;&nbsp;$42918788 |
| **Class 2** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1169 | &nbsp;&nbsp;$25856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50237 | &nbsp;&nbsp;$411802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75292 | &nbsp;&nbsp;$624247 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190347 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7417) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(169839) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18244) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(423709) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48692) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(399375) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(118527) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(962048) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6248) | &nbsp;&nbsp;$(143983) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2327) | &nbsp;&nbsp;$(42189) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1545 | &nbsp;&nbsp;$12427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19560) | &nbsp;&nbsp;$(147454) |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SA JPMorgan Large Cap Core Portfolio** | **SA JPMorgan Large Cap Core Portfolio** | **SA JPMorgan Large Cap Core Portfolio** | **SA JPMorgan Large Cap Core Portfolio** | &nbsp;&nbsp;**SA JPMorgan MFS Core Bond Portfolio** | &nbsp;&nbsp;**SA JPMorgan MFS Core Bond Portfolio** | &nbsp;&nbsp;**SA JPMorgan MFS Core Bond Portfolio** | &nbsp;&nbsp;**SA JPMorgan MFS Core Bond Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;297564 | &nbsp;&nbsp;$6608817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315696 | &nbsp;&nbsp;$7493972 | &nbsp;&nbsp;&nbsp;5109595 | &nbsp;&nbsp;$41991990 | &nbsp;&nbsp;&nbsp;&nbsp;9529866 | &nbsp;&nbsp;$76420724 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13337919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;3641600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29023551 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;(456869) | &nbsp;&nbsp;&nbsp;(10396447) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(934004) | &nbsp;&nbsp;&nbsp;&nbsp;(21823038) | &nbsp;&nbsp;(8931283) | &nbsp;&nbsp;&nbsp;&nbsp;(72442189) | &nbsp;&nbsp;(12217037) | &nbsp;&nbsp;&nbsp;&nbsp;(98529465) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;(159305) | &nbsp;&nbsp;$(3787630) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56475) | &nbsp;&nbsp;$(991147) | &nbsp;&nbsp;(3821688) | &nbsp;&nbsp;$(30450199) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;954429 | &nbsp;&nbsp;$6914810 |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| &nbsp;&nbsp;&nbsp;&nbsp;527539 | &nbsp;&nbsp;$10158277 | &nbsp;&nbsp;&nbsp;&nbsp;2791844 | &nbsp;&nbsp;$68651972 | &nbsp;&nbsp;&nbsp;3135977 | &nbsp;&nbsp;$27476575 | &nbsp;&nbsp;&nbsp;&nbsp;6497534 | &nbsp;&nbsp;$49686144 |
|  | **SA JPMorgan Mid-Cap Growth Portfolio** | **SA JPMorgan Mid-Cap Growth Portfolio** | **SA JPMorgan Mid-Cap Growth Portfolio** | **SA JPMorgan Mid-Cap Growth Portfolio** | &nbsp;&nbsp;**SA JPMorgan Ultra-Short Bond Portfolio** | &nbsp;&nbsp;**SA JPMorgan Ultra-Short Bond Portfolio** | &nbsp;&nbsp;**SA JPMorgan Ultra-Short Bond Portfolio** | &nbsp;&nbsp;**SA JPMorgan Ultra-Short Bond Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;1239794 | &nbsp;&nbsp;$21965374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346532 | &nbsp;&nbsp;$6288721 | &nbsp;&nbsp;&nbsp;1392027 | &nbsp;&nbsp;$15219847 | &nbsp;&nbsp;&nbsp;&nbsp;1419254 | &nbsp;&nbsp;$15547300 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4267637 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;(982318) | &nbsp;&nbsp;&nbsp;(18863110) | &nbsp;&nbsp;&nbsp;&nbsp;(2806782) | &nbsp;&nbsp;&nbsp;&nbsp;(52353784) | &nbsp;&nbsp;(1015910) | &nbsp;&nbsp;&nbsp;&nbsp;(11102435) | &nbsp;&nbsp;&nbsp;(3129459) | &nbsp;&nbsp;&nbsp;&nbsp;(33987320) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;257476 | &nbsp;&nbsp;$3102264 | &nbsp;&nbsp;&nbsp;&nbsp;(2460250) | &nbsp;&nbsp;$(46065063) | &nbsp;&nbsp;&nbsp;&nbsp;376117 | &nbsp;&nbsp;$4117412 | &nbsp;&nbsp;&nbsp;(1310987) | &nbsp;&nbsp;$(14172383) |
| **Class 2** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8757 | &nbsp;&nbsp;$161971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6233 | &nbsp;&nbsp;$103871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27555 | &nbsp;&nbsp;$296984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156860 | &nbsp;&nbsp;$1671301 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363374 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;(65934) | &nbsp;&nbsp;&nbsp;&nbsp;(1165529) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(154674) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2638750) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64315) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(690958) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(212600) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2273414) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;(57177) | &nbsp;&nbsp;$(1003558) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(148441) | &nbsp;&nbsp;$(2534879) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36760) | &nbsp;&nbsp;$(393974) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21232) | &nbsp;&nbsp;$(238739) |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;1098026 | &nbsp;&nbsp;$16992199 | &nbsp;&nbsp;&nbsp;&nbsp;1855131 | &nbsp;&nbsp;$29437588 | &nbsp;&nbsp;&nbsp;2237172 | &nbsp;&nbsp;$23790560 | &nbsp;&nbsp;&nbsp;&nbsp;2927426 | &nbsp;&nbsp;$30829014 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;778173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100782 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (2140092) | &nbsp;&nbsp;&nbsp;(36985007) | &nbsp;&nbsp;&nbsp;&nbsp;(2742832) | &nbsp;&nbsp;&nbsp;&nbsp;(44561467) | &nbsp;&nbsp;(2424227) | &nbsp;&nbsp;&nbsp;&nbsp;(25732154) | &nbsp;&nbsp;&nbsp;(4722275) | &nbsp;&nbsp;&nbsp;&nbsp;(49790006) |
| &nbsp;&nbsp;&nbsp;Total<br>| (1042066) | &nbsp;&nbsp;$(19992808) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(887701) | &nbsp;&nbsp;$(15123879) | &nbsp;&nbsp;&nbsp;&nbsp;(187055) | &nbsp;&nbsp;$(1941594) | &nbsp;&nbsp;&nbsp;(1016676) | &nbsp;&nbsp;$(10860210) |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| &nbsp;&nbsp;&nbsp;(841767) | &nbsp;&nbsp;$(17894102) | &nbsp;&nbsp;&nbsp;&nbsp;(3496392) | &nbsp;&nbsp;$(63723821) | &nbsp;&nbsp;&nbsp;&nbsp;152302 | &nbsp;&nbsp;$1781844 | &nbsp;&nbsp;&nbsp;(2348895) | &nbsp;&nbsp;$(25271332) |
|  | **SA Large Cap Growth Index Portfolio** | **SA Large Cap Growth Index Portfolio** | **SA Large Cap Growth Index Portfolio** | **SA Large Cap Growth Index Portfolio** | &nbsp;&nbsp;**SA Large Cap Index Portfolio** | &nbsp;&nbsp;**SA Large Cap Index Portfolio** | &nbsp;&nbsp;**SA Large Cap Index Portfolio** | &nbsp;&nbsp;**SA Large Cap Index Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;2475074 | &nbsp;&nbsp;$66481553 | &nbsp;&nbsp;&nbsp;&nbsp;4071518 | &nbsp;&nbsp;$112602049 | &nbsp;&nbsp;&nbsp;4621020 | &nbsp;&nbsp;$172772637 | &nbsp;&nbsp;&nbsp;&nbsp;3093878 | &nbsp;&nbsp;$119935546 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21727872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;4777321 | &nbsp;&nbsp;&nbsp;&nbsp;190997313 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (2506516) | &nbsp;&nbsp;&nbsp;(74054126) | &nbsp;&nbsp;&nbsp;&nbsp;(3677370) | &nbsp;&nbsp;&nbsp;(100251381) | &nbsp;&nbsp;(7624581) | &nbsp;&nbsp;&nbsp;(304584251) | &nbsp;&nbsp;(16409221) | &nbsp;&nbsp;&nbsp;(636291064) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;(31442) | &nbsp;&nbsp;$(7572573) | &nbsp;&nbsp;&nbsp;&nbsp;1149637 | &nbsp;&nbsp;$34078540 | &nbsp;&nbsp;(3003561) | &nbsp;&nbsp;$(131811614) | &nbsp;&nbsp;&nbsp;(8538022) | &nbsp;&nbsp;$(325358205) |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;248607 | &nbsp;&nbsp;$6863905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621173 | &nbsp;&nbsp;$16941560 | &nbsp;&nbsp;&nbsp;&nbsp;212627 | &nbsp;&nbsp;$8414812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362833 | &nbsp;&nbsp;$13815273 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2519674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7150659 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;(294525) | &nbsp;&nbsp;&nbsp;&nbsp;(8660993) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(469561) | &nbsp;&nbsp;&nbsp;&nbsp;(12550301) | &nbsp;&nbsp;&nbsp;&nbsp;(259781) | &nbsp;&nbsp;&nbsp;&nbsp;(10147380) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(524350) | &nbsp;&nbsp;&nbsp;&nbsp;(20023706) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;(45918) | &nbsp;&nbsp;$(1797088) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239929 | &nbsp;&nbsp;$6910933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47154) | &nbsp;&nbsp;$(1732568) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18510 | &nbsp;&nbsp;$942226 |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(77360) | &nbsp;&nbsp;$(9369661) | &nbsp;&nbsp;&nbsp;&nbsp;1389566 | &nbsp;&nbsp;$40989473 | &nbsp;&nbsp;(3050715) | &nbsp;&nbsp;$(133544182) | &nbsp;&nbsp;&nbsp;(8519512) | &nbsp;&nbsp;$(324415979) |
|  | **SA Large Cap Value Index Portfolio** | **SA Large Cap Value Index Portfolio** | **SA Large Cap Value Index Portfolio** | **SA Large Cap Value Index Portfolio** | &nbsp;&nbsp;**SA MFS Large Cap Growth Portfolio** | &nbsp;&nbsp;**SA MFS Large Cap Growth Portfolio** | &nbsp;&nbsp;**SA MFS Large Cap Growth Portfolio** | &nbsp;&nbsp;**SA MFS Large Cap Growth Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;3617863 | &nbsp;&nbsp;$66166265 | &nbsp;&nbsp;&nbsp;&nbsp;9030876 | &nbsp;&nbsp;$184191966 | &nbsp;&nbsp;&nbsp;1592029 | &nbsp;&nbsp;$26656096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540481 | &nbsp;&nbsp;$8672135 |
| &nbsp;&nbsp;&nbsp;Shares issued in merger<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;8723904 | &nbsp;&nbsp;&nbsp;&nbsp;132500092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2577039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50509966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2831158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47563452 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (2522144) | &nbsp;&nbsp;&nbsp;(47427288) | &nbsp;&nbsp;&nbsp;&nbsp;(4777460) | &nbsp;&nbsp;&nbsp;&nbsp;(94106073) | &nbsp;&nbsp;(3150154) | &nbsp;&nbsp;&nbsp;&nbsp;(53334373) | &nbsp;&nbsp;(11005715) | &nbsp;&nbsp;&nbsp;(183781600) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;1095719 | &nbsp;&nbsp;$18738977 | &nbsp;&nbsp;&nbsp;&nbsp;6830455 | &nbsp;&nbsp;$140595859 | &nbsp;&nbsp;&nbsp;7165779 | &nbsp;&nbsp;$105821815 | &nbsp;&nbsp;&nbsp;(7634076) | &nbsp;&nbsp;$(127546013) |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SA Large Cap Value Index Portfolio** | **SA Large Cap Value Index Portfolio** | **SA Large Cap Value Index Portfolio** | **SA Large Cap Value Index Portfolio** | &nbsp;&nbsp;**SA MFS Large Cap Growth Portfolio** | &nbsp;&nbsp;**SA MFS Large Cap Growth Portfolio** | &nbsp;&nbsp;**SA MFS Large Cap Growth Portfolio** | &nbsp;&nbsp;**SA MFS Large Cap Growth Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 2** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;112887 | &nbsp;&nbsp;$1909418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4783 | &nbsp;&nbsp;$81710 |
| &nbsp;&nbsp;&nbsp;Shares issued in merger<br>|  |  |  |  | &nbsp;&nbsp;&nbsp;1782816 | &nbsp;&nbsp;&nbsp;&nbsp;26781686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393680 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;(306547) | &nbsp;&nbsp;&nbsp;&nbsp;(5150518) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34649) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(579560) |
| &nbsp;&nbsp;&nbsp;Total<br>|  |  |  |  | &nbsp;&nbsp;&nbsp;1589156 | &nbsp;&nbsp;$23540586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6193) | &nbsp;&nbsp;$(104170) |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;294830 | &nbsp;&nbsp;$5575947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597959 | &nbsp;&nbsp;$11535688 | &nbsp;&nbsp;&nbsp;&nbsp;982995 | &nbsp;&nbsp;$14793057 | &nbsp;&nbsp;&nbsp;1122245 | &nbsp;&nbsp;$18495844 |
| &nbsp;&nbsp;&nbsp;Shares issued in merger<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1490965 | &nbsp;&nbsp;&nbsp;&nbsp;21985668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6155986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1599020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26112003 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;(193994) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3599714) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(322095) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6356623) | &nbsp;&nbsp;(1903494) | &nbsp;&nbsp;&nbsp;&nbsp;(31424342) | &nbsp;&nbsp;(2924689) | &nbsp;&nbsp;&nbsp;&nbsp;(47109275) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;100836 | &nbsp;&nbsp;$1976233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592693 | &nbsp;&nbsp;$11335051 | &nbsp;&nbsp;&nbsp;&nbsp;570466 | &nbsp;&nbsp;$5354383 | &nbsp;&nbsp;&nbsp;&nbsp;(203424) | &nbsp;&nbsp;$(2501428) |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| &nbsp;&nbsp;1196555 | &nbsp;&nbsp;$20715210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7423148 | &nbsp;&nbsp;$151930910 | &nbsp;&nbsp;&nbsp;9325401 | &nbsp;&nbsp;$134716784 | &nbsp;&nbsp;(7843693) | &nbsp;&nbsp;$(130151611) |
|  | **SA MFS Massachusetts Investors Trust Portfolio** | **SA MFS Massachusetts Investors Trust Portfolio** | **SA MFS Massachusetts Investors Trust Portfolio** | **SA MFS Massachusetts Investors Trust Portfolio** | &nbsp;&nbsp;**SA MFS Total Return Portfolio** | &nbsp;&nbsp;**SA MFS Total Return Portfolio** | &nbsp;&nbsp;**SA MFS Total Return Portfolio** | &nbsp;&nbsp;**SA MFS Total Return Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;942824 | &nbsp;&nbsp;$19111465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94078 | &nbsp;&nbsp;$2165615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57526 | &nbsp;&nbsp;$1065436 | &nbsp;&nbsp;&nbsp;&nbsp;108520 | &nbsp;&nbsp;$2004508 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3022465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65617718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;408373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7612068 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (4791051) | &nbsp;&nbsp;&nbsp;(102982211) | &nbsp;&nbsp;&nbsp;&nbsp;(11467748) | &nbsp;&nbsp;&nbsp;(268048267) | &nbsp;&nbsp;&nbsp;&nbsp;(604385) | &nbsp;&nbsp;&nbsp;&nbsp;(11259291) | &nbsp;&nbsp;(1177461) | &nbsp;&nbsp;&nbsp;&nbsp;(21985522) |
| &nbsp;&nbsp;&nbsp;Total<br>| (3848227) | &nbsp;&nbsp;$(83870746) | &nbsp;&nbsp;&nbsp;&nbsp;(8351205) | &nbsp;&nbsp;$(200264934) | &nbsp;&nbsp;&nbsp;&nbsp;(546859) | &nbsp;&nbsp;$(10193855) | &nbsp;&nbsp;&nbsp;&nbsp;(660568) | &nbsp;&nbsp;$(12368946) |
| **Class 2** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007 | &nbsp;&nbsp;$21935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18720 | &nbsp;&nbsp;$449458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2179 | &nbsp;&nbsp;$41464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27447 | &nbsp;&nbsp;$502841 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1047879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1033236 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;(22738) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(482621) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55320) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1268144) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(84764) | &nbsp;&nbsp;&nbsp;&nbsp;(1565217) | &nbsp;&nbsp;&nbsp;&nbsp;(126662) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2361463) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;(21731) | &nbsp;&nbsp;$(460686) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11512 | &nbsp;&nbsp;$229193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(82585) | &nbsp;&nbsp;$(1523753) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43962) | &nbsp;&nbsp;$(825386) |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;167949 | &nbsp;&nbsp;$3450949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246916 | &nbsp;&nbsp;$5920365 | &nbsp;&nbsp;&nbsp;&nbsp;645739 | &nbsp;&nbsp;$12073622 | &nbsp;&nbsp;&nbsp;&nbsp;897136 | &nbsp;&nbsp;$16471962 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2201333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47416709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1136310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21112647 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (1241768) | &nbsp;&nbsp;&nbsp;&nbsp;(26492778) | &nbsp;&nbsp;&nbsp;&nbsp;(3041716) | &nbsp;&nbsp;&nbsp;&nbsp;(69239507) | &nbsp;&nbsp;(1287036) | &nbsp;&nbsp;&nbsp;&nbsp;(23718791) | &nbsp;&nbsp;(2448008) | &nbsp;&nbsp;&nbsp;&nbsp;(45417821) |
| &nbsp;&nbsp;&nbsp;Total<br>| (1073819) | &nbsp;&nbsp;$(23041829) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(593467) | &nbsp;&nbsp;$(15902433) | &nbsp;&nbsp;&nbsp;&nbsp;(641297) | &nbsp;&nbsp;$(11645169) | &nbsp;&nbsp;&nbsp;&nbsp;(414562) | &nbsp;&nbsp;$(7833212) |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| (4943777) | &nbsp;&nbsp;$(107373261) | &nbsp;&nbsp;&nbsp;&nbsp;(8933160) | &nbsp;&nbsp;$(215938174) | &nbsp;&nbsp;(1270741) | &nbsp;&nbsp;$(23362777) | &nbsp;&nbsp;(1119092) | &nbsp;&nbsp;$(21027544) |
|  | **SA Mid Cap Index Portfolio** | **SA Mid Cap Index Portfolio** | **SA Mid Cap Index Portfolio** | **SA Mid Cap Index Portfolio** | &nbsp;&nbsp;**SA Morgan Stanley International Equities Portfolio** | &nbsp;&nbsp;**SA Morgan Stanley International Equities Portfolio** | &nbsp;&nbsp;**SA Morgan Stanley International Equities Portfolio** | &nbsp;&nbsp;**SA Morgan Stanley International Equities Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;1591182 | &nbsp;&nbsp;$23566461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1876176 | &nbsp;&nbsp;$28872323 | &nbsp;&nbsp;&nbsp;2122596 | &nbsp;&nbsp;$22285639 | &nbsp;&nbsp;&nbsp;&nbsp;205197 | &nbsp;&nbsp;$2036159 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8170584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;380977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3828819 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (1814786) | &nbsp;&nbsp;&nbsp;&nbsp;(27039812) | &nbsp;&nbsp;&nbsp;&nbsp;(3556509) | &nbsp;&nbsp;&nbsp;&nbsp;(54527755) | &nbsp;&nbsp;(1617736) | &nbsp;&nbsp;&nbsp;&nbsp;(17312621) | &nbsp;&nbsp;(4868950) | &nbsp;&nbsp;&nbsp;&nbsp;(48875352) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;(223604) | &nbsp;&nbsp;$(3473351) | &nbsp;&nbsp;&nbsp;&nbsp;(1175353) | &nbsp;&nbsp;$(17484848) | &nbsp;&nbsp;&nbsp;&nbsp;504860 | &nbsp;&nbsp;$4973018 | &nbsp;&nbsp;(4282776) | &nbsp;&nbsp;$(43010374) |
| **Class 2** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306 | &nbsp;&nbsp;$3381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23543 | &nbsp;&nbsp;$230285 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90635 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(61432) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(654430) | &nbsp;&nbsp;&nbsp;&nbsp;(106845) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1065598) |
| &nbsp;&nbsp;&nbsp;Total<br>|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(61126) | &nbsp;&nbsp;$(651049) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(74248) | &nbsp;&nbsp;$(744678) |

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SA Mid Cap Index Portfolio** | **SA Mid Cap Index Portfolio** | **SA Mid Cap Index Portfolio** | **SA Mid Cap Index Portfolio** | &nbsp;&nbsp;**SA Morgan Stanley International Equities Portfolio** | &nbsp;&nbsp;**SA Morgan Stanley International Equities Portfolio** | &nbsp;&nbsp;**SA Morgan Stanley International Equities Portfolio** | &nbsp;&nbsp;**SA Morgan Stanley International Equities Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;431213 | &nbsp;&nbsp;$6380669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828652 | &nbsp;&nbsp;$12366940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96679 | &nbsp;&nbsp;$1022420 | &nbsp;&nbsp;&nbsp;1191331 | &nbsp;&nbsp;$11569601 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1569735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;174605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1742559 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;(275771) | &nbsp;&nbsp;&nbsp;&nbsp;(4039809) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(707727) | &nbsp;&nbsp;&nbsp;(10669181) | &nbsp;&nbsp;(1497868) | &nbsp;&nbsp;&nbsp;(15782159) | &nbsp;&nbsp;(1973352) | &nbsp;&nbsp;&nbsp;(19551722) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;155442 | &nbsp;&nbsp;$2340860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218850 | &nbsp;&nbsp;$3267494 | &nbsp;&nbsp;(1401189) | &nbsp;&nbsp;$(14759739) | &nbsp;&nbsp;&nbsp;&nbsp;(607416) | &nbsp;&nbsp;$(6239562) |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(68162) | &nbsp;&nbsp;$(1132491) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(956503) | &nbsp;&nbsp;$(14217354) | &nbsp;&nbsp;&nbsp;&nbsp;(957455) | &nbsp;&nbsp;$(10437770) | &nbsp;&nbsp;(4964440) | &nbsp;&nbsp;$(49994614) |
|  | **SA PIMCO Global Bond Opportunities Portfolio** | **SA PIMCO Global Bond Opportunities Portfolio** | **SA PIMCO Global Bond Opportunities Portfolio** | **SA PIMCO Global Bond Opportunities Portfolio** | &nbsp;&nbsp;**SA PIMCO RAE International Value Portfolio** | &nbsp;&nbsp;**SA PIMCO RAE International Value Portfolio** | &nbsp;&nbsp;**SA PIMCO RAE International Value Portfolio** | &nbsp;&nbsp;**SA PIMCO RAE International Value Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;337321 | &nbsp;&nbsp;$3167332 | &nbsp;&nbsp;&nbsp;&nbsp;1764272 | &nbsp;&nbsp;$15980381 | &nbsp;&nbsp;&nbsp;&nbsp;688646 | &nbsp;&nbsp;$10158582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39694 | &nbsp;&nbsp;$556466 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1178445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;282969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3967230 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;(404561) | &nbsp;&nbsp;&nbsp;&nbsp;(3794367) | &nbsp;&nbsp;&nbsp;&nbsp;(2894167) | &nbsp;&nbsp;&nbsp;(26665846) | &nbsp;&nbsp;&nbsp;&nbsp;(685499) | &nbsp;&nbsp;&nbsp;(10352673) | &nbsp;&nbsp;(3580836) | &nbsp;&nbsp;&nbsp;(50505279) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;(67240) | &nbsp;&nbsp;$(627035) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(999967) | &nbsp;&nbsp;$(9507020) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3147 | &nbsp;&nbsp;$(194091) | &nbsp;&nbsp;(3258173) | &nbsp;&nbsp;$(45981583) |
| **Class 2** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4932 | &nbsp;&nbsp;$46434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7728 | &nbsp;&nbsp;$69901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3802 | &nbsp;&nbsp;$58660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40145 | &nbsp;&nbsp;$542865 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273812 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;(68022) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(627813) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45384) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(409812) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(51295) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(756301) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(84761) | &nbsp;&nbsp;&nbsp;&nbsp;(1191471) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;(63090) | &nbsp;&nbsp;$(581379) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31509) | &nbsp;&nbsp;$(284892) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47493) | &nbsp;&nbsp;$(697641) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25114) | &nbsp;&nbsp;$(374794) |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;1190984 | &nbsp;&nbsp;$11043440 | &nbsp;&nbsp;&nbsp;&nbsp;3231357 | &nbsp;&nbsp;$28978551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19891 | &nbsp;&nbsp;$299562 | &nbsp;&nbsp;&nbsp;2466319 | &nbsp;&nbsp;$33372789 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5229363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;800087 | &nbsp;&nbsp;&nbsp;&nbsp;11201225 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (2498243) | &nbsp;&nbsp;&nbsp;(22762096) | &nbsp;&nbsp;&nbsp;&nbsp;(3597144) | &nbsp;&nbsp;&nbsp;(32091659) | &nbsp;&nbsp;(3437795) | &nbsp;&nbsp;&nbsp;(50950416) | &nbsp;&nbsp;(4296622) | &nbsp;&nbsp;&nbsp;(60576868) |
| &nbsp;&nbsp;&nbsp;Total<br>| (1307259) | &nbsp;&nbsp;$(11718656) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227111 | &nbsp;&nbsp;$2116255 | &nbsp;&nbsp;(3417904) | &nbsp;&nbsp;$(50650854) | &nbsp;&nbsp;(1030216) | &nbsp;&nbsp;$(16002854) |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| (1437589) | &nbsp;&nbsp;$(12927070) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(804365) | &nbsp;&nbsp;$(7675657) | &nbsp;&nbsp;(3462250) | &nbsp;&nbsp;$(51542586) | &nbsp;&nbsp;(4313503) | &nbsp;&nbsp;$(62359231) |
|  | **SA PineBridge High-Yield Bond Portfolio** | **SA PineBridge High-Yield Bond Portfolio** | **SA PineBridge High-Yield Bond Portfolio** | **SA PineBridge High-Yield Bond Portfolio** | &nbsp;&nbsp;**SA Putnam International Value Portfolio** | &nbsp;&nbsp;**SA Putnam International Value Portfolio** | &nbsp;&nbsp;**SA Putnam International Value Portfolio** | &nbsp;&nbsp;**SA Putnam International Value Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;2187608 | &nbsp;&nbsp;$11373069 | &nbsp;&nbsp;&nbsp;&nbsp;3632337 | &nbsp;&nbsp;$18892957 | &nbsp;&nbsp;&nbsp;1301759 | &nbsp;&nbsp;$16851127 | &nbsp;&nbsp;&nbsp;&nbsp;202947 | &nbsp;&nbsp;$2441796 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1625490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8371275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;1104972 | &nbsp;&nbsp;&nbsp;&nbsp;13237563 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (1938504) | &nbsp;&nbsp;&nbsp;(10194203) | &nbsp;&nbsp;&nbsp;&nbsp;(4203262) | &nbsp;&nbsp;&nbsp;(22168419) | &nbsp;&nbsp;(1430708) | &nbsp;&nbsp;&nbsp;(18834211) | &nbsp;&nbsp;(6289946) | &nbsp;&nbsp;&nbsp;(76362861) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;249104 | &nbsp;&nbsp;$1178866 | &nbsp;&nbsp;&nbsp;&nbsp;1054565 | &nbsp;&nbsp;$5095813 | &nbsp;&nbsp;&nbsp;&nbsp;(128949) | &nbsp;&nbsp;$(1983084) | &nbsp;&nbsp;(4982027) | &nbsp;&nbsp;$(60683502) |
| **Class 2** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33409 | &nbsp;&nbsp;$170500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57782 | &nbsp;&nbsp;$309684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7782 | &nbsp;&nbsp;$98779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6325 | &nbsp;&nbsp;$73091 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295804 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;(69850) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(366264) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(188145) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(997072) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40020) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(527782) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50505) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(611978) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;(36441) | &nbsp;&nbsp;$(195764) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64449) | &nbsp;&nbsp;$(347270) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32238) | &nbsp;&nbsp;$(429003) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19673) | &nbsp;&nbsp;$(243083) |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;682958 | &nbsp;&nbsp;$3604760 | &nbsp;&nbsp;&nbsp;&nbsp;1789772 | &nbsp;&nbsp;$9426963 | &nbsp;&nbsp;&nbsp;&nbsp;268037 | &nbsp;&nbsp;$3653558 | &nbsp;&nbsp;&nbsp;&nbsp;637719 | &nbsp;&nbsp;$7472590 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1650853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8435857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;510573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6147294 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (2013886) | &nbsp;&nbsp;&nbsp;(10464683) | &nbsp;&nbsp;&nbsp;&nbsp;(3666601) | &nbsp;&nbsp;&nbsp;(19171012) | &nbsp;&nbsp;(1187041) | &nbsp;&nbsp;&nbsp;(15418805) | &nbsp;&nbsp;(1300588) | &nbsp;&nbsp;&nbsp;(15916463) |
| &nbsp;&nbsp;&nbsp;Total<br>| (1330928) | &nbsp;&nbsp;$(6859923) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(225976) | &nbsp;&nbsp;$(1308192) | &nbsp;&nbsp;&nbsp;&nbsp;(919004) | &nbsp;&nbsp;$(11765247) | &nbsp;&nbsp;&nbsp;&nbsp;(152296) | &nbsp;&nbsp;$(2296579) |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| (1118265) | &nbsp;&nbsp;$(5876821) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764140 | &nbsp;&nbsp;$3440351 | &nbsp;&nbsp;(1080191) | &nbsp;&nbsp;$(14177334) | &nbsp;&nbsp;(5153996) | &nbsp;&nbsp;$(63223164) |

---

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SA Schroders VCP Global Allocation Portfolio** | **SA Schroders VCP Global Allocation Portfolio** | **SA Schroders VCP Global Allocation Portfolio** | **SA Schroders VCP Global Allocation Portfolio** | &nbsp;&nbsp;**SA Small Cap Index Portfolio** | &nbsp;&nbsp;**SA Small Cap Index Portfolio** | &nbsp;&nbsp;**SA Small Cap Index Portfolio** | &nbsp;&nbsp;**SA Small Cap Index Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144 | &nbsp;&nbsp;$1649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8081 | &nbsp;&nbsp;$85984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;877441 | &nbsp;&nbsp;$10340150 | &nbsp;&nbsp;&nbsp;&nbsp;1018765 | &nbsp;&nbsp;$13244236 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5581968 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(969) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10576) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2130) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22539) | &nbsp;&nbsp;&nbsp;(2289418) | &nbsp;&nbsp;&nbsp;&nbsp;(28177888) | &nbsp;&nbsp;&nbsp;(3955270) | &nbsp;&nbsp;&nbsp;&nbsp;(51359638) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(825) | &nbsp;&nbsp;$(8927) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6563 | &nbsp;&nbsp;$70203 | &nbsp;&nbsp;&nbsp;(1411977) | &nbsp;&nbsp;$(17837738) | &nbsp;&nbsp;&nbsp;(2539777) | &nbsp;&nbsp;$(32533434) |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35903 | &nbsp;&nbsp;$403440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386211 | &nbsp;&nbsp;$4094887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515024 | &nbsp;&nbsp;$6254914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891159 | &nbsp;&nbsp;$11384353 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7464391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1545424 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;(3459284) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37994582) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7933510) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(84845257) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(253923) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3080993) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(375198) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4827783) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;(3423381) | &nbsp;&nbsp;$(37591142) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6871177) | &nbsp;&nbsp;$(73285979) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261101 | &nbsp;&nbsp;$3173921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626824 | &nbsp;&nbsp;$8101994 |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| &nbsp;&nbsp;&nbsp;(3424206) | &nbsp;&nbsp;$(37600069) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6864614) | &nbsp;&nbsp;$(73215776) | &nbsp;&nbsp;&nbsp;(1150876) | &nbsp;&nbsp;$(14663817) | &nbsp;&nbsp;&nbsp;(1912953) | &nbsp;&nbsp;$(24431440) |
|  | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio** | &nbsp;&nbsp;**SA T. Rowe Price VCP Balanced Portfolio** | &nbsp;&nbsp;**SA T. Rowe Price VCP Balanced Portfolio** | &nbsp;&nbsp;**SA T. Rowe Price VCP Balanced Portfolio** | &nbsp;&nbsp;**SA T. Rowe Price VCP Balanced Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;$67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1486 | &nbsp;&nbsp;$23610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;$1486 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5258 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4553) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(72870) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12707) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(198662) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(961) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12284) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2807) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33828) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4549) | &nbsp;&nbsp;$(72803) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10461) | &nbsp;&nbsp;$(163102) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(961) | &nbsp;&nbsp;$(12284) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2272) | &nbsp;&nbsp;$(27084) |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466588 | &nbsp;&nbsp;$7297201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1136581 | &nbsp;&nbsp;$17099888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180860 | &nbsp;&nbsp;$2324531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745424 | &nbsp;&nbsp;$9159540 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;971137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15237138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2136782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27051658 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;(2740004) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43078930) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3915018) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59193807) | &nbsp;&nbsp;(10345325) | &nbsp;&nbsp;&nbsp;(131874367) | &nbsp;&nbsp;(19657718) | &nbsp;&nbsp;&nbsp;(240233672) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;(2273416) | &nbsp;&nbsp;$(35781729) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1807300) | &nbsp;&nbsp;$(26856781) | &nbsp;&nbsp;(10164465) | &nbsp;&nbsp;$(129549836) | &nbsp;&nbsp;(16775512) | &nbsp;&nbsp;$(204022474) |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| &nbsp;&nbsp;&nbsp;(2277965) | &nbsp;&nbsp;$(35854532) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1817761) | &nbsp;&nbsp;$(27019883) | &nbsp;&nbsp;(10165426) | &nbsp;&nbsp;$(129562120) | &nbsp;&nbsp;(16777784) | &nbsp;&nbsp;$(204049558) |
|  | **SA VCP Dynamic Allocation Portfolio** | **SA VCP Dynamic Allocation Portfolio** | **SA VCP Dynamic Allocation Portfolio** | **SA VCP Dynamic Allocation Portfolio** | &nbsp;&nbsp;**SA VCP Dynamic Strategy Portfolio** | &nbsp;&nbsp;**SA VCP Dynamic Strategy Portfolio** | &nbsp;&nbsp;**SA VCP Dynamic Strategy Portfolio** | &nbsp;&nbsp;**SA VCP Dynamic Strategy Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;&nbsp;&nbsp;**Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646 | &nbsp;&nbsp;$8083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491 | &nbsp;&nbsp;$5692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142 | &nbsp;&nbsp;$1734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 | &nbsp;&nbsp;$1892 |
| &nbsp;&nbsp;&nbsp;Shares issued in merger<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10976 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1184) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14265) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8990) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(103103) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1599) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20017) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17947) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(219357) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37027 | &nbsp;&nbsp;$431049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7353) | &nbsp;&nbsp;$(83414) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1457) | &nbsp;&nbsp;$(18283) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16926) | &nbsp;&nbsp;$(206489) |
| **Class 3** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;1491591 | &nbsp;&nbsp;$17753852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156007 | &nbsp;&nbsp;$1825431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203025 | &nbsp;&nbsp;$2551837 | &nbsp;&nbsp;&nbsp;&nbsp;1173498 | &nbsp;&nbsp;$14138994 |
| &nbsp;&nbsp;&nbsp;Shares issued in merger<br>| 121259155 | &nbsp;&nbsp;&nbsp;1411783968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17729998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216837876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;5710011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72574244 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (58816016) | &nbsp;&nbsp;&nbsp;&nbsp;(709250726) | &nbsp;&nbsp;&nbsp;&nbsp;(121716468) | &nbsp;&nbsp;&nbsp;(1435732867) | &nbsp;&nbsp;(34628852) | &nbsp;&nbsp;&nbsp;(433555992) | &nbsp;&nbsp;(77010961) | &nbsp;&nbsp;&nbsp;(936038832) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;63934730 | &nbsp;&nbsp;$720287094 | &nbsp;&nbsp;&nbsp;&nbsp;(103830463) | &nbsp;&nbsp;$(1217069560) | &nbsp;&nbsp;(34425827) | &nbsp;&nbsp;$(431004155) | &nbsp;&nbsp;(70127452) | &nbsp;&nbsp;$(849325594) |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| &nbsp;&nbsp;63971757 | &nbsp;&nbsp;$720718143 | &nbsp;&nbsp;&nbsp;&nbsp;(103837816) | &nbsp;&nbsp;$(1217152974) | &nbsp;&nbsp;(34427284) | &nbsp;&nbsp;$(431022438) | &nbsp;&nbsp;(70144378) | &nbsp;&nbsp;$(849532083) |

---

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** |
|  | **Six Months Ended 7/31/25<br> (unaudited)** | **Six Months Ended 7/31/25<br> (unaudited)** | &nbsp;&nbsp;**Year Ended 1/31/25** | &nbsp;&nbsp;**Year Ended 1/31/25** |
|  | **Shares** | &nbsp;&nbsp;**Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Amount** |
| **Class 1** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278 | &nbsp;&nbsp;$3435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;$59 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36193 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(579) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7412) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5536) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70043) |
| &nbsp;&nbsp;&nbsp;Total<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(301) | &nbsp;&nbsp;$(3977) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2758) | &nbsp;&nbsp;$(33791) |
| **Class 3** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Shares sold<br>| &nbsp;&nbsp;&nbsp;&nbsp;803559 | &nbsp;&nbsp;$10068471 | &nbsp;&nbsp;&nbsp;&nbsp;1780076 | &nbsp;&nbsp;$22760817 |
| &nbsp;&nbsp;&nbsp;Reinvested dividends<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;2738058 | &nbsp;&nbsp;&nbsp;&nbsp;35731650 |
| &nbsp;&nbsp;&nbsp;Shares redeemed<br>| (2276629) | &nbsp;&nbsp;&nbsp;(29004324) | &nbsp;&nbsp;&nbsp;&nbsp;(4861232) | &nbsp;&nbsp;&nbsp;(62783233) |
| &nbsp;&nbsp;&nbsp;Total<br>| (1473070) | &nbsp;&nbsp;$(18935853) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(343098) | &nbsp;&nbsp;$(4290766) |
| &nbsp;&nbsp;&nbsp;Net increase (decrease)<br>| (1473371) | &nbsp;&nbsp;$(18939830) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(345856) | &nbsp;&nbsp;$(4324557) |

---

#### Note 8 — Transactions with Affiliates
&nbsp;&nbsp;&nbsp;&nbsp;Transactions in shares of Underlying Portfolios and affiliated securities for the six months ended July 31, 2025 are shown in the tables below. Additionally, the SA BlackRock Multi-Factor 70/30 Portfolio owned 5% or more of the outstanding voting shares of the following company.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SA Blackrock Multi-Factor 70/30 Portfolio** | **SA Blackrock Multi-Factor 70/30 Portfolio** | **SA Blackrock Multi-Factor 70/30 Portfolio** | **SA Blackrock Multi-Factor 70/30 Portfolio** | **SA Blackrock Multi-Factor 70/30 Portfolio** | **SA Blackrock Multi-Factor 70/30 Portfolio** | **SA Blackrock Multi-Factor 70/30 Portfolio** | **SA Blackrock Multi-Factor 70/30 Portfolio** | **SA Blackrock Multi-Factor 70/30 Portfolio** |
| **Security** | **Income** | **Capital Gain<br> Distribution<br> Received** | **Value at<br> January 31,<br> 2025** | **Cost of<br> Purchases** | **Proceeds<br> of Sales** | **Realized<br> Gain/(Loss)** | **Change in<br> Unrealized<br> Gain (Loss)** | **Value at<br> July 31,<br> 2025** |
| iShares U.S. Fixed Income Balanced Risk Systematic ETF | $286545 | $— | $12123743 | $— | $1919839 | $(309350) | $385643 | $10280197 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SA Global Index Allocation 60/40 Portfolio** | **SA Global Index Allocation 60/40 Portfolio** | **SA Global Index Allocation 60/40 Portfolio** | **SA Global Index Allocation 60/40 Portfolio** | **SA Global Index Allocation 60/40 Portfolio** | **SA Global Index Allocation 60/40 Portfolio** | **SA Global Index Allocation 60/40 Portfolio** | **SA Global Index Allocation 60/40 Portfolio** | **SA Global Index Allocation 60/40 Portfolio** |
| **Security** | **Income** | **Capital Gain<br> Distribution<br> Received** | **Value at<br> January 31,<br> 2025** | **Cost of<br> Purchases<sup>†</sup>** | **Proceeds<br> from Sales** | **Realized<br> Gain/(Loss)** | **Change in<br> Unrealized<br> Gain (Loss)** | **Value at<br> July 31,<br> 2025** |
| **SunAmerica Series Trust** |  |  |  |  |  |  |  |  |
| SA Emerging Markets Equity Index Portfolio, Class 1 | $— | $— | $2955303 | $103622 | $183996 | $(1196) | $440477 | $3314210 |
| SA Fixed Income Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;19168981 | &nbsp;&nbsp;&nbsp;1390816 | &nbsp;&nbsp;&nbsp;&nbsp;1226642 | &nbsp;&nbsp;&nbsp;&nbsp;(218753) | &nbsp;&nbsp;&nbsp;&nbsp;787037 | &nbsp;&nbsp;&nbsp;&nbsp;19901439 |
| SA Fixed Income Intermediate Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;19839395 | &nbsp;&nbsp;&nbsp;1290816 | &nbsp;&nbsp;&nbsp;&nbsp;1226642 | &nbsp;&nbsp;&nbsp;&nbsp;(103376) | &nbsp;&nbsp;&nbsp;&nbsp;692046 | &nbsp;&nbsp;&nbsp;&nbsp;20492239 |
| SA International Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;23539472 | &nbsp;&nbsp;&nbsp;3391713 | &nbsp;&nbsp;&nbsp;&nbsp;1482590 | &nbsp;&nbsp;&nbsp;&nbsp;603860 | &nbsp;&nbsp;&nbsp;2387303 | &nbsp;&nbsp;&nbsp;&nbsp;28439758 |
| SA Large Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;29797575 | &nbsp;&nbsp;&nbsp;&nbsp;878059 | &nbsp;&nbsp;&nbsp;&nbsp;4963992 | &nbsp;&nbsp;&nbsp;1921324 | &nbsp;&nbsp;&nbsp;&nbsp;(680227) | &nbsp;&nbsp;&nbsp;&nbsp;26952739 |
| SA Mid Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5815552 | &nbsp;&nbsp;&nbsp;&nbsp;277550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620223 | &nbsp;&nbsp;&nbsp;&nbsp;193843 | &nbsp;&nbsp;&nbsp;&nbsp;(330410) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5336312 |
| SA Small Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2074699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369126 | &nbsp;&nbsp;&nbsp;&nbsp;(101404) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1671954 |
|  | $— | $— | $103190977 | $7394080 | $10073211 | $2294298 | $3302507 | $106108651 |

---

 <br> <sup>†</sup> Includes reinvestment of distributions paid.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SA Global Index Allocation 75/25 Portfolio** | **SA Global Index Allocation 75/25 Portfolio** | **SA Global Index Allocation 75/25 Portfolio** | **SA Global Index Allocation 75/25 Portfolio** | **SA Global Index Allocation 75/25 Portfolio** | **SA Global Index Allocation 75/25 Portfolio** | **SA Global Index Allocation 75/25 Portfolio** | **SA Global Index Allocation 75/25 Portfolio** | **SA Global Index Allocation 75/25 Portfolio** |
| **Security** | **Income** | **Capital Gain<br> Distribution<br> Received** | **Value at<br> January 31,<br> 2025** | **Cost of<br> Purchases<sup>†</sup>** | **Proceeds<br> from Sales** | **Realized<br> Gain/(Loss)** | **Change in<br> Unrealized<br> Gain (Loss)** | **Value at<br> July 31,<br> 2025** |
| **SunAmerica Series Trust** |  |  |  |  |  |  |  |  |
| SA Emerging Markets Equity Index Portfolio, Class 1 | $— | $— | $5011048 | $128753 | $336932 | $84571 | $664274 | $5551714 |
| SA Fixed Income Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;11750143 | &nbsp;&nbsp;&nbsp;&nbsp;621885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842330 | &nbsp;&nbsp;&nbsp;&nbsp;(148328) | &nbsp;&nbsp;&nbsp;&nbsp;498153 | &nbsp;&nbsp;&nbsp;&nbsp;11879523 |
| SA Fixed Income Intermediate Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;12555198 | &nbsp;&nbsp;&nbsp;&nbsp;321886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57786) | &nbsp;&nbsp;&nbsp;&nbsp;429644 | &nbsp;&nbsp;&nbsp;&nbsp;12406612 |
| SA International Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;28115826 | &nbsp;&nbsp;&nbsp;3885752 | &nbsp;&nbsp;&nbsp;&nbsp;1934586 | &nbsp;&nbsp;&nbsp;&nbsp;422172 | &nbsp;&nbsp;&nbsp;3203394 | &nbsp;&nbsp;&nbsp;&nbsp;33692558 |
| SA Large Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;36739955 | &nbsp;&nbsp;&nbsp;&nbsp;805106 | &nbsp;&nbsp;&nbsp;&nbsp;5002988 | &nbsp;&nbsp;&nbsp;1888926 | &nbsp;&nbsp;&nbsp;&nbsp;(280388) | &nbsp;&nbsp;&nbsp;&nbsp;34150611 |
| SA Mid Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7094915 | &nbsp;&nbsp;&nbsp;&nbsp;262168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622869 | &nbsp;&nbsp;&nbsp;&nbsp;235465 | &nbsp;&nbsp;&nbsp;&nbsp;(425790) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6543889 |
| SA Small Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4220130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70423) | &nbsp;&nbsp;&nbsp;&nbsp;(113453) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3429185 |
|  | $— | $— | $105487215 | $6125083 | $10288637 | $2354597 | $3975834 | $107654092 |

---

 <br> <sup>†</sup> Includes reinvestment of distributions paid.

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SA Global Index Allocation 90/10 Portfolio** | **SA Global Index Allocation 90/10 Portfolio** | **SA Global Index Allocation 90/10 Portfolio** | **SA Global Index Allocation 90/10 Portfolio** | **SA Global Index Allocation 90/10 Portfolio** | **SA Global Index Allocation 90/10 Portfolio** | **SA Global Index Allocation 90/10 Portfolio** | **SA Global Index Allocation 90/10 Portfolio** | **SA Global Index Allocation 90/10 Portfolio** |
| **Security** | **Income** | **Capital Gain<br> Distribution<br> Received** | **Value at<br> January 31,<br> 2025** | **Cost of<br> Purchases<sup>†</sup>** | **Proceeds<br> from Sales** | **Realized<br> Gain/(Loss)** | **Change in<br> Unrealized<br> Gain (Loss)** | **Value at<br> July 31,<br> 2025** |
| **SunAmerica Series Trust** |  |  |  |  |  |  |  |  |
| SA Emerging Markets Equity Index Portfolio, Class 1 | $— | $— | $18449157 | $353778 | $1118875 | $54110 | $2688885 | $20427055 |
| SA Fixed Income Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;16493123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353778 | &nbsp;&nbsp;&nbsp;&nbsp;1118874 | &nbsp;&nbsp;&nbsp;&nbsp;(241589) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;724274 | &nbsp;&nbsp;&nbsp;&nbsp;16210712 |
| SA Fixed Income Intermediate Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;16925947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353778 | &nbsp;&nbsp;&nbsp;&nbsp;1118875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59820) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558930 | &nbsp;&nbsp;&nbsp;&nbsp;16659960 |
| SA International Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;129169294 | &nbsp;&nbsp;&nbsp;16078622 | &nbsp;&nbsp;&nbsp;&nbsp;8053721 | &nbsp;&nbsp;&nbsp;1993112 | &nbsp;&nbsp;&nbsp;14467675 | &nbsp;&nbsp;&nbsp;153654982 |
| SA Large Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;151706055 | &nbsp;&nbsp;&nbsp;&nbsp;2521512 | &nbsp;&nbsp;&nbsp;18013701 | &nbsp;&nbsp;&nbsp;6767894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14828) | &nbsp;&nbsp;&nbsp;142966932 |
| SA Mid Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;34392432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988577 | &nbsp;&nbsp;&nbsp;&nbsp;2780989 | &nbsp;&nbsp;&nbsp;&nbsp;643966 | &nbsp;&nbsp;&nbsp;(1581649) | &nbsp;&nbsp;&nbsp;&nbsp;31662337 |
| SA Small Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;20235785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325518 | &nbsp;&nbsp;&nbsp;&nbsp;4072458 | &nbsp;&nbsp;&nbsp;&nbsp;379530 | &nbsp;&nbsp;&nbsp;(1365688) | &nbsp;&nbsp;&nbsp;&nbsp;15502687 |
|  | $— | $— | $387371793 | $20975563 | $36277493 | $9537203 | $15477599 | $397084665 |

---

 <br> <sup>†</sup> Includes reinvestment of distributions paid.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SA Index Allocation 60/40 Portfolio** | **SA Index Allocation 60/40 Portfolio** | **SA Index Allocation 60/40 Portfolio** | **SA Index Allocation 60/40 Portfolio** | **SA Index Allocation 60/40 Portfolio** | **SA Index Allocation 60/40 Portfolio** | **SA Index Allocation 60/40 Portfolio** | **SA Index Allocation 60/40 Portfolio** | **SA Index Allocation 60/40 Portfolio** |
| **Security** | **Income** | **Capital Gain<br> Distribution<br> Received** | **Value at<br> January 31,<br> 2025** | **Cost of<br> Purchases<sup>†</sup>** | **Proceeds<br> from Sales** | **Realized<br> Gain/(Loss)** | **Change in<br> Unrealized<br> Gain (Loss)** | **Value at<br> July 31,<br> 2025** |
| **SunAmerica Series Trust** |  |  |  |  |  |  |  |  |
| SA Fixed Income Index Portfolio, Class 1 | $— | $— | $49308131 | $3366252 | $3659954 | $(466080) | $1928028 | $50476377 |
| SA Fixed Income Intermediate Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;52635752 | &nbsp;&nbsp;&nbsp;&nbsp;1666251 | &nbsp;&nbsp;&nbsp;&nbsp;3659954 | &nbsp;&nbsp;&nbsp;&nbsp;(187800) | &nbsp;&nbsp;&nbsp;1739037 | &nbsp;&nbsp;&nbsp;&nbsp;52193286 |
| SA International Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;24542142 | &nbsp;&nbsp;&nbsp;&nbsp;2090057 | &nbsp;&nbsp;&nbsp;&nbsp;1760926 | &nbsp;&nbsp;&nbsp;&nbsp;465354 | &nbsp;&nbsp;&nbsp;2644141 | &nbsp;&nbsp;&nbsp;&nbsp;27980768 |
| SA Large Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;120303525 | &nbsp;&nbsp;&nbsp;&nbsp;1850828 | &nbsp;&nbsp;&nbsp;12493108 | &nbsp;&nbsp;&nbsp;4840746 | &nbsp;&nbsp;&nbsp;1228334 | &nbsp;&nbsp;&nbsp;115730325 |
| SA Mid Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;15169350 | &nbsp;&nbsp;&nbsp;&nbsp;1183644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933288 | &nbsp;&nbsp;&nbsp;&nbsp;218380 | &nbsp;&nbsp;&nbsp;&nbsp;(554441) | &nbsp;&nbsp;&nbsp;&nbsp;15083645 |
| SA Small Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;13750657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224226 | &nbsp;&nbsp;&nbsp;&nbsp;1592541 | &nbsp;&nbsp;&nbsp;&nbsp;397895 | &nbsp;&nbsp;&nbsp;&nbsp;(833920) | &nbsp;&nbsp;&nbsp;&nbsp;11946317 |
|  | $— | $— | $275709557 | $10381258 | $24099771 | $5268495 | $6151179 | $273410718 |

---

 <br> <sup>†</sup> Includes reinvestment of distributions paid.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SA Index Allocation 80/20 Portfolio** | **SA Index Allocation 80/20 Portfolio** | **SA Index Allocation 80/20 Portfolio** | **SA Index Allocation 80/20 Portfolio** | **SA Index Allocation 80/20 Portfolio** | **SA Index Allocation 80/20 Portfolio** | **SA Index Allocation 80/20 Portfolio** | **SA Index Allocation 80/20 Portfolio** | **SA Index Allocation 80/20 Portfolio** |
| **Security** | **Income** | **Capital Gain<br> Distribution<br> Received** | **Value at<br> January 31,<br> 2025** | **Cost of<br> Purchases<sup>†</sup>** | **Proceeds<br> from Sales** | **Realized<br> Gain/(Loss)** | **Change in<br> Unrealized<br> Gain (Loss)** | **Value at<br> July 31,<br> 2025** |
| **SunAmerica Series Trust** |  |  |  |  |  |  |  |  |
| SA Fixed Income Index Portfolio, Class 1 | $— | $— | $46908865 | $476135 | $3223868 | $(418070) | $1785017 | $45528079 |
| SA Fixed Income Intermediate Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;48270247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476135 | &nbsp;&nbsp;&nbsp;&nbsp;3223868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(243080) | &nbsp;&nbsp;&nbsp;&nbsp;1663943 | &nbsp;&nbsp;&nbsp;&nbsp;46943377 |
| SA International Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;69646013 | &nbsp;&nbsp;&nbsp;&nbsp;5791596 | &nbsp;&nbsp;&nbsp;&nbsp;4718255 | &nbsp;&nbsp;&nbsp;&nbsp;1249333 | &nbsp;&nbsp;&nbsp;&nbsp;7621226 | &nbsp;&nbsp;&nbsp;&nbsp;79589913 |
| SA Large Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;285398897 | &nbsp;&nbsp;&nbsp;&nbsp;2399719 | &nbsp;&nbsp;&nbsp;21848296 | &nbsp;&nbsp;&nbsp;10264707 | &nbsp;&nbsp;&nbsp;&nbsp;4096010 | &nbsp;&nbsp;&nbsp;280311037 |
| SA Mid Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;55913799 | &nbsp;&nbsp;&nbsp;&nbsp;2280896 | &nbsp;&nbsp;&nbsp;&nbsp;3256107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880057 | &nbsp;&nbsp;&nbsp;(2192507) | &nbsp;&nbsp;&nbsp;&nbsp;53626138 |
| SA Small Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;26486852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236866 | &nbsp;&nbsp;&nbsp;&nbsp;2868287 | &nbsp;&nbsp;&nbsp;&nbsp;1027362 | &nbsp;&nbsp;&nbsp;(1890599) | &nbsp;&nbsp;&nbsp;&nbsp;22992194 |
|  | $— | $— | $532624673 | $11661347 | $39138681 | $12760309 | $11083090 | $528990738 |

---

 <br> <sup>†</sup> Includes reinvestment of distributions paid.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SA Index Allocation 90/10 Portfolio** | **SA Index Allocation 90/10 Portfolio** | **SA Index Allocation 90/10 Portfolio** | **SA Index Allocation 90/10 Portfolio** | **SA Index Allocation 90/10 Portfolio** | **SA Index Allocation 90/10 Portfolio** | **SA Index Allocation 90/10 Portfolio** | **SA Index Allocation 90/10 Portfolio** | **SA Index Allocation 90/10 Portfolio** |
| **Security** | **Income** | **Capital Gain<br> Distribution<br> Received** | **Value at<br> January 31,<br> 2025** | **Cost of<br> Purchases<sup>†</sup>** | **Proceeds<br> from Sales** | **Realized<br> Gain/(Loss)** | **Change in<br> Unrealized<br> Gain (Loss)** | **Value at<br> July 31,<br> 2025** |
| **SunAmerica Series Trust** |  |  |  |  |  |  |  |  |
| SA Fixed Income Index Portfolio, Class 1 | $— | $— | $61178534 | $478808 | $4240779 | $(756118) | $2543767 | $59204212 |
| SA Fixed Income Intermediate Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62365237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4240779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(251139) | &nbsp;&nbsp;&nbsp;&nbsp;2087547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60439674 |
| SA International Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;255924404 | &nbsp;&nbsp;&nbsp;21878712 | &nbsp;&nbsp;&nbsp;&nbsp;16636893 | &nbsp;&nbsp;&nbsp;&nbsp;4967762 | &nbsp;&nbsp;&nbsp;27670299 | &nbsp;&nbsp;&nbsp;&nbsp;293804284 |
| SA Large Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;881731561 | &nbsp;&nbsp;&nbsp;&nbsp;5305188 | &nbsp;&nbsp;&nbsp;&nbsp;69187832 | &nbsp;&nbsp;&nbsp;28820981 | &nbsp;&nbsp;&nbsp;14866243 | &nbsp;&nbsp;&nbsp;&nbsp;861536141 |
| SA Mid Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;154673146 | &nbsp;&nbsp;&nbsp;&nbsp;6667192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8566374 | &nbsp;&nbsp;&nbsp;&nbsp;2679642 | &nbsp;&nbsp;&nbsp;(6416414) | &nbsp;&nbsp;&nbsp;&nbsp;149037192 |
| SA Small Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75497358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7642923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651500 | &nbsp;&nbsp;&nbsp;(3147068) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65826313 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SA Index Allocation 90/10 Portfolio** | **SA Index Allocation 90/10 Portfolio** | **SA Index Allocation 90/10 Portfolio** | **SA Index Allocation 90/10 Portfolio** | **SA Index Allocation 90/10 Portfolio** | **SA Index Allocation 90/10 Portfolio** | **SA Index Allocation 90/10 Portfolio** | **SA Index Allocation 90/10 Portfolio** | **SA Index Allocation 90/10 Portfolio** |
| **Security** | **Income** | **Capital Gain<br> Distribution<br> Received** | **Value at<br> January 31,<br> 2025** | **Cost of<br> Purchases<sup>†</sup>** | **Proceeds<br> from Sales** | **Realized<br> Gain/(Loss)** | **Change in<br> Unrealized<br> Gain (Loss)** | **Value at<br> July 31,<br> 2025** |
|  | $— | $— | $1491370240 | $35276154 | $110515580 | $36112628 | $37604374 | $1489847816 |

---

 <br> <sup>†</sup> Includes reinvestment of distributions paid.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SA VCP Dynamic Allocation Portfolio** | **SA VCP Dynamic Allocation Portfolio** | **SA VCP Dynamic Allocation Portfolio** | **SA VCP Dynamic Allocation Portfolio** | **SA VCP Dynamic Allocation Portfolio** | **SA VCP Dynamic Allocation Portfolio** | **SA VCP Dynamic Allocation Portfolio** | **SA VCP Dynamic Allocation Portfolio** | **SA VCP Dynamic Allocation Portfolio** |
| **Security** | **Income** | **Capital Gain<br> Distribution<br> Received** | **Value at<br> January 31,<br> 2025** | **Cost of<br> Purchases<sup>†</sup>** | **Proceeds<br> from Sales** | **Realized<br> Gain/(Loss)** | **Change in<br> Unrealized<br> Gain (Loss)** | **Value at<br> July 31,<br> 2025** |
| **Seasons Series Trust** |  |  |  |  |  |  |  |  |
| SA American Century Inflation Managed Portfolio, Class 1 | $— | $— | $117486412 | $20363163 | $10078847 | $(1174903) | $4910938 | $131506763 |
| SA Columbia Focused Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;126104078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22108577 | &nbsp;&nbsp;&nbsp;&nbsp;10942749 | &nbsp;&nbsp;&nbsp;&nbsp;1514483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5488280 | &nbsp;&nbsp;&nbsp;&nbsp;144272669 |
| SA Multi-Managed Diversified Fixed Income Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;386408539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92380016 | &nbsp;&nbsp;&nbsp;&nbsp;38299620 | &nbsp;&nbsp;&nbsp;(6048651) | &nbsp;&nbsp;&nbsp;&nbsp;17103545 | &nbsp;&nbsp;&nbsp;&nbsp;451543829 |
| SA Multi-Managed International Equity Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;109103529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19783134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9918885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(297044) | &nbsp;&nbsp;&nbsp;&nbsp;12822765 | &nbsp;&nbsp;&nbsp;&nbsp;131493499 |
| SA Multi-Managed Large Cap Growth Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;134068173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28605510 | &nbsp;&nbsp;&nbsp;&nbsp;21735098 | &nbsp;&nbsp;&nbsp;(4448307) | &nbsp;&nbsp;&nbsp;&nbsp;19751963 | &nbsp;&nbsp;&nbsp;&nbsp;156242241 |
| SA Multi-Managed Large Cap Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;167480885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23272186 | &nbsp;&nbsp;&nbsp;&nbsp;39018683 | &nbsp;&nbsp;&nbsp;(7376336) | &nbsp;&nbsp;&nbsp;&nbsp;10357880 | &nbsp;&nbsp;&nbsp;&nbsp;154715932 |
| SA Multi-Managed Mid Cap Growth Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66626086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9308875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4607473 | &nbsp;&nbsp;&nbsp;(1090731) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4317487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74554244 |
| SA Multi-Managed Mid Cap Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;106306136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18126921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7487144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(357162) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47300) | &nbsp;&nbsp;&nbsp;&nbsp;116541451 |
| SA Multi-Managed Small Cap Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47563744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8143490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4903534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(961095) | &nbsp;&nbsp;&nbsp;&nbsp;(1439525) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48403080 |
| SA T. Rowe Price Growth Stock Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;30462600 | &nbsp;&nbsp;&nbsp;&nbsp;102021037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30606416 | &nbsp;&nbsp;&nbsp;90803417(1) | &nbsp;&nbsp;&nbsp;(1744373) | &nbsp;&nbsp;&nbsp;(40079663) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **SunAmerica Series Trust** |  |  |  |  |  |  |  |  |
| SA AB Growth Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;259834421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54088868 | &nbsp;&nbsp;&nbsp;&nbsp;23255921 | &nbsp;&nbsp;&nbsp;&nbsp;1034591 | &nbsp;&nbsp;&nbsp;&nbsp;18407524 | &nbsp;&nbsp;&nbsp;&nbsp;310109483 |
| SA AB Small & Mid Cap Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8227705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3490828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1727802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(920428) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9931484 |
| SA Emerging Markets Equity Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20582241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3490828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1727802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3446698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25831599 |
| SA Federated Hermes Corporate Bond Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;206845217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36071887 | &nbsp;&nbsp;&nbsp;&nbsp;17853958 | &nbsp;&nbsp;&nbsp;(2487670) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9802911 | &nbsp;&nbsp;&nbsp;&nbsp;232378387 |
| SA Fidelity Institutional AM® Global Equities Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;133361078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18035943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8926979 | &nbsp;&nbsp;&nbsp;&nbsp;1013163 | &nbsp;&nbsp;&nbsp;&nbsp;12360098 | &nbsp;&nbsp;&nbsp;&nbsp;155843303 |
| SA Fidelity Institutional AM® International Growth Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;109279880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18620412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9406953 | &nbsp;&nbsp;&nbsp;&nbsp;2255968 | &nbsp;&nbsp;&nbsp;&nbsp;11732739 | &nbsp;&nbsp;&nbsp;&nbsp;132482046 |
| SA Fidelity Institutional AM® Real Estate Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46735039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9308874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4607473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468067 | &nbsp;&nbsp;&nbsp;&nbsp;(1984553) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49919954 |
| SA Fixed Income Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82673154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24435794 | &nbsp;&nbsp;&nbsp;&nbsp;12094617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(603468) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3093453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97504316 |
| SA Fixed Income Intermediate Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86257072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26872334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8351045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2391691 | &nbsp;&nbsp;&nbsp;&nbsp;107388509 |
| SA Franklin BW U.S. Large Cap Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;201330039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33162864 | &nbsp;&nbsp;&nbsp;&nbsp;18414123 | &nbsp;&nbsp;&nbsp;&nbsp;6099717 | &nbsp;&nbsp;&nbsp;&nbsp;(1900434) | &nbsp;&nbsp;&nbsp;&nbsp;220278063 |
| SA Franklin Small Company Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66787881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11634316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7631337 | &nbsp;&nbsp;&nbsp;(1507601) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69577756 |
| SA Franklin Systematic U.S. Large Cap Core Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;114973701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42990380 | &nbsp;&nbsp;&nbsp;&nbsp;11230716 | &nbsp;&nbsp;&nbsp;&nbsp;3503627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4631728 | &nbsp;&nbsp;&nbsp;&nbsp;154868720 |
| SA Franklin Systematic U.S. Large Cap Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81565754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69108576 | &nbsp;&nbsp;&nbsp;&nbsp;10942749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3667036 | &nbsp;&nbsp;&nbsp;&nbsp;143737153 |
| SA Goldman Sachs Government & Quality Bond Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;351761898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65162118 | &nbsp;&nbsp;&nbsp;&nbsp;32252312 | &nbsp;&nbsp;&nbsp;(6715491) | &nbsp;&nbsp;&nbsp;&nbsp;16473204 | &nbsp;&nbsp;&nbsp;&nbsp;394429417 |
| SA International Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95304619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21526771 | &nbsp;&nbsp;&nbsp;&nbsp;10654782 | &nbsp;&nbsp;&nbsp;&nbsp;3317500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9078142 | &nbsp;&nbsp;&nbsp;&nbsp;118572250 |
| SA Invesco Growth Opportunities Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93994965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16286977 | &nbsp;&nbsp;&nbsp;&nbsp;10807069 | &nbsp;&nbsp;&nbsp;(7257363) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4483069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96700579 |
| SA Janus Focused Growth Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;103174350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51725707 | &nbsp;&nbsp;&nbsp;&nbsp;11177074 | &nbsp;&nbsp;&nbsp;&nbsp;2861035 | &nbsp;&nbsp;&nbsp;&nbsp;16936304 | &nbsp;&nbsp;&nbsp;&nbsp;163520322 |
| SA JPMorgan Emerging Markets Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22226771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5818046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2879671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(179745) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4294644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29280045 |
| SA JPMorgan Equity-Income Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;176004998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26181208 | &nbsp;&nbsp;&nbsp;&nbsp;37458518 | &nbsp;&nbsp;&nbsp;&nbsp;4277514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(433016) | &nbsp;&nbsp;&nbsp;&nbsp;168572186 |
| SA JPMorgan Large Cap Core Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;120990149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37290380 | &nbsp;&nbsp;&nbsp;&nbsp;11230716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118206 | &nbsp;&nbsp;&nbsp;&nbsp;11614270 | &nbsp;&nbsp;&nbsp;&nbsp;158782289 |
| SA JPMorgan MFS Core Bond Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;520655666 | &nbsp;&nbsp;&nbsp;&nbsp;110761521 | &nbsp;&nbsp;&nbsp;&nbsp;44922863 | &nbsp;&nbsp;&nbsp;(6257687) | &nbsp;&nbsp;&nbsp;&nbsp;23922807 | &nbsp;&nbsp;&nbsp;&nbsp;604159444 |
| SA JPMorgan Mid Cap Growth Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87458097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20126920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7487144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5324078 | &nbsp;&nbsp;&nbsp;&nbsp;105482773 |
| SA JPMorgan Ultra-Short Bond Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49592897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8727069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4319506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1054195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55195090 |
| SA Large Cap Growth Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;346112909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59598658 | &nbsp;&nbsp;&nbsp;&nbsp;41508740 | &nbsp;&nbsp;&nbsp;13052485 | &nbsp;&nbsp;&nbsp;&nbsp;28563732 | &nbsp;&nbsp;&nbsp;&nbsp;405819044 |
| SA Large Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;873719863 | &nbsp;&nbsp;&nbsp;&nbsp;144869351 | &nbsp;&nbsp;&nbsp;&nbsp;100703801 | &nbsp;&nbsp;&nbsp;53520370 | &nbsp;&nbsp;&nbsp;&nbsp;10276390 | &nbsp;&nbsp;&nbsp;&nbsp;981682173 |
| SA Large Cap Value Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;263260715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53544370 | &nbsp;&nbsp;&nbsp;&nbsp;23037366 | &nbsp;&nbsp;&nbsp;&nbsp;6450567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(497600) | &nbsp;&nbsp;&nbsp;&nbsp;299720686 |
| SA MFS Large Cap Growth, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;231871204 | &nbsp;&nbsp;&nbsp;&nbsp;87682368(1) | &nbsp;&nbsp;&nbsp;&nbsp;30573772 | &nbsp;&nbsp;&nbsp;(1809470) | &nbsp;&nbsp;&nbsp;&nbsp;32623167 | &nbsp;&nbsp;&nbsp;&nbsp;319793497 |
| SA MFS Massachusetts Investors Trust Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;143597886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16872334 | &nbsp;&nbsp;&nbsp;&nbsp;39251045 | &nbsp;&nbsp;&nbsp;(2751770) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8952410 | &nbsp;&nbsp;&nbsp;&nbsp;127419815 |
| SA Mid Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54301170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8727069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4319506 | &nbsp;&nbsp;&nbsp;&nbsp;1417103 | &nbsp;&nbsp;&nbsp;&nbsp;(1834351) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58291485 |
| SA Morgan Stanley International Equities Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;101344913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18035943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8926979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284343 | &nbsp;&nbsp;&nbsp;&nbsp;10464650 | &nbsp;&nbsp;&nbsp;&nbsp;121202870 |
| SA PIMCO Global Bond Opportunities Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16077291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2909023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1439835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(263631) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;867931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18150779 |
| SA PIMCO RAE International Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34286786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5819822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3007675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4777670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42161359 |
| SA PineBridge High-Yield Bond Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43130847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6399851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3167638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(290692) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1878092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47950460 |
| SA Putnam International Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55093004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9310650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4735478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9575910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69672366 |
| SA Small Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43583404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7562572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5679570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(140523) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(711916) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44613967 |
| SA Wellington Capital Appreciation Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;136615527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34308399 | &nbsp;&nbsp;&nbsp;&nbsp;11611619 | &nbsp;&nbsp;&nbsp;(1983154) | &nbsp;&nbsp;&nbsp;&nbsp;14345293 | &nbsp;&nbsp;&nbsp;&nbsp;171674446 |
|  | $— | $30462600 | $6745781730 | $1443257319 | $825119604 | $46032364 | $312020014 | $7721971823 |

---

---

| | |
|:---|:---|
| <sup>†</sup> | Includes reinvestment of distributions paid. |
| <sup>(1)</sup> | Includes amounts relating to fund mergers. |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SA VCP Dynamic Strategy Portfolio** | **SA VCP Dynamic Strategy Portfolio** | **SA VCP Dynamic Strategy Portfolio** | **SA VCP Dynamic Strategy Portfolio** | **SA VCP Dynamic Strategy Portfolio** | **SA VCP Dynamic Strategy Portfolio** | **SA VCP Dynamic Strategy Portfolio** | **SA VCP Dynamic Strategy Portfolio** | **SA VCP Dynamic Strategy Portfolio** |
| **Security** | **Income** | **Capital Gain<br> Distribution<br> Received** | **Value at<br> January 31,<br> 2025** | **Cost of<br> Purchases<sup>†</sup>** | **Proceeds<br> from Sales** | **Realized<br> Gain/(Loss)** | **Change in<br> Unrealized<br> Gain (Loss)** | **Value at<br> July 31,<br> 2025** |
| **Seasons Series Trust** |  |  |  |  |  |  |  |  |
| SA American Century Inflation Managed Portfolio, Class 1 | $— | $— | $49014869 | $— | $4074426 | $(420715) | $1903555 | $46423283 |
| SA Columbia Focused Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;103593651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8503149 | &nbsp;&nbsp;&nbsp;&nbsp;(1058468) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4970495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99002529 |
| SA Multi-Managed Diversified Fixed Income Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;134622182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;13994766 | &nbsp;&nbsp;&nbsp;&nbsp;(3304198) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6915246 | &nbsp;&nbsp;&nbsp;&nbsp;124238464 |
| SA Multi-Managed International Equity Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58763033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4960170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5726878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59968120 |
| SA Multi-Managed Large Cap Growth Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93691523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;17032076 | &nbsp;&nbsp;&nbsp;&nbsp;(3624379) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9531455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82566523 |
| SA Multi-Managed Large Cap Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;118030584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9034596 | &nbsp;&nbsp;&nbsp;&nbsp;(3509217) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4783858 | &nbsp;&nbsp;&nbsp;&nbsp;110270629 |
| SA Multi-Managed Mid Cap Growth Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59561146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4428723 | &nbsp;&nbsp;&nbsp;&nbsp;(3171013) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4618431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56579841 |
| SA Multi-Managed Mid Cap Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44171294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3011532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135715 | &nbsp;&nbsp;&nbsp;&nbsp;(1057290) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40238187 |
| SA Multi-Managed Small Cap Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61718339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4885451 | &nbsp;&nbsp;&nbsp;&nbsp;(1578446) | &nbsp;&nbsp;&nbsp;&nbsp;(2433691) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52820751 |
| SA T. Rowe Price Growth Stock Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;8009451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26956478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8009451 | &nbsp;&nbsp;&nbsp;23957047(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(787009) | &nbsp;&nbsp;&nbsp;(10221873) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **SunAmerica Series Trust** |  |  |  |  |  |  |  |  |
| SA AB Growth Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;135773101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200000 | &nbsp;&nbsp;&nbsp;&nbsp;13472121 | &nbsp;&nbsp;&nbsp;&nbsp;(1370979) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7230589 | &nbsp;&nbsp;&nbsp;&nbsp;132360590 |
| SA AB Small & Mid Cap Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81066170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6554511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972551 | &nbsp;&nbsp;&nbsp;&nbsp;(4833328) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70650882 |
| SA Emerging Markets Equity Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15774767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1062894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2305858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17038494 |
| SA Federated Hermes Corporate Bond Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95811619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8148852 | &nbsp;&nbsp;&nbsp;&nbsp;(1303775) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4391329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90750321 |
| SA Fidelity Institutional AM® Global Equities Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76875935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5668766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;962662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5274605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77444436 |
| SA Fidelity Institutional AM® International Growth Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68814925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;10706126 | &nbsp;&nbsp;&nbsp;&nbsp;1071099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6436587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65616485 |
| SA Fidelity Institutional AM® Real Estate Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30094805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2834383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(604323) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(386021) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26270078 |
| SA Fixed Income Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42085496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4960170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(299218) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1490439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38316547 |
| SA Fixed Income Intermediate Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39231460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3542979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(259743) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1392596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36821334 |
| SA Franklin BW U.S. Large Cap Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;165779373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4700000 | &nbsp;&nbsp;&nbsp;&nbsp;13640467 | &nbsp;&nbsp;&nbsp;&nbsp;2188536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(980359) | &nbsp;&nbsp;&nbsp;&nbsp;158047083 |
| SA Franklin Small Company Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30082085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2684944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298433 | &nbsp;&nbsp;&nbsp;&nbsp;(1295093) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26400481 |
| SA Franklin Systematic U.S. Large Cap Core Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71688842 | &nbsp;&nbsp;&nbsp;&nbsp;39800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9211745 | &nbsp;&nbsp;&nbsp;&nbsp;3279909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1784221 | &nbsp;&nbsp;&nbsp;&nbsp;107341227 |
| SA Franklin Systematic U.S. Large Cap Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;125241826 | &nbsp;&nbsp;&nbsp;&nbsp;14400000 | &nbsp;&nbsp;&nbsp;&nbsp;11160382 | &nbsp;&nbsp;&nbsp;&nbsp;(1727164) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2983909 | &nbsp;&nbsp;&nbsp;&nbsp;129738189 |
| SA Goldman Sachs Government & Quality Bond Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;133645865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;13286170 | &nbsp;&nbsp;&nbsp;&nbsp;(3272094) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6872776 | &nbsp;&nbsp;&nbsp;&nbsp;123960377 |
| SA International Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74955085 | &nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8326000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7942180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85416559 |
| SA Invesco Growth Opportunities Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25195655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2088428 | &nbsp;&nbsp;&nbsp;&nbsp;(1903715) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21884434 |
| SA Janus Focused Growth Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;106855708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;11169185 | &nbsp;&nbsp;&nbsp;&nbsp;(1697606) | &nbsp;&nbsp;&nbsp;&nbsp;11539457 | &nbsp;&nbsp;&nbsp;&nbsp;105528374 |
| SA JPMorgan Emerging Markets Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12447061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1948639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(411681) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2209593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12296334 |
| SA JPMorgan Equity-Income Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;165734637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;31914681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(886667) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2818979 | &nbsp;&nbsp;&nbsp;&nbsp;135752268 |
| SA JPMorgan Large Cap Core Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;214277764 | &nbsp;&nbsp;&nbsp;&nbsp;10500000 | &nbsp;&nbsp;&nbsp;&nbsp;18069192 | &nbsp;&nbsp;&nbsp;&nbsp;2511029 | &nbsp;&nbsp;&nbsp;&nbsp;10421071 | &nbsp;&nbsp;&nbsp;&nbsp;219640672 |
| SA JPMorgan MFS Core Bond Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;219687924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;19132085 | &nbsp;&nbsp;&nbsp;&nbsp;(3044480) | &nbsp;&nbsp;&nbsp;&nbsp;10128889 | &nbsp;&nbsp;&nbsp;&nbsp;207640248 |
| SA JPMorgan Mid Cap Growth Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51605086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4074426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(946085) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1790220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48374795 |
| SA JPMorgan Ultra-Short Bond Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18552668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1594340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17368936 |
| SA Large Cap Growth Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;189835512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;22880511 | &nbsp;&nbsp;&nbsp;&nbsp;2205804 | &nbsp;&nbsp;&nbsp;&nbsp;13137242 | &nbsp;&nbsp;&nbsp;&nbsp;182298047 |
| SA Large Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;495945070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;45972766 | &nbsp;&nbsp;&nbsp;&nbsp;20530961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3339028 | &nbsp;&nbsp;&nbsp;&nbsp;473842293 |
| SA Large Cap Value Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;229639578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6300000 | &nbsp;&nbsp;&nbsp;&nbsp;18954937 | &nbsp;&nbsp;&nbsp;&nbsp;2474854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(705990) | &nbsp;&nbsp;&nbsp;&nbsp;218753505 |
| SA MFS Large Cap Growth, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;120686238 | &nbsp;&nbsp;&nbsp;43749731(1) | &nbsp;&nbsp;&nbsp;&nbsp;11708841 | &nbsp;&nbsp;&nbsp;&nbsp;(1376141) | &nbsp;&nbsp;&nbsp;&nbsp;14045406 | &nbsp;&nbsp;&nbsp;&nbsp;165396393 |
| SA MFS Massachusetts Investors Trust Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;196341202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;58928936 | &nbsp;&nbsp;&nbsp;(18083675) | &nbsp;&nbsp;&nbsp;&nbsp;22832243 | &nbsp;&nbsp;&nbsp;&nbsp;142160834 |
| SA Mid Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43478298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3542978 | &nbsp;&nbsp;&nbsp;&nbsp;1124434 | &nbsp;&nbsp;&nbsp;&nbsp;(2242067) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38817687 |
| SA Morgan Stanley International Equities Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45106508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4074425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(322310) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4597921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45307694 |
| SA PIMCO Global Bond Opportunities Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12799797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(229670) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12353078 |
| SA PIMCO RAE International Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45755306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6294847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1322) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6287284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45746421 |
| SA PineBridge High-Yield Bond Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23586597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1240042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27648) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;754331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23073238 |
| SA Putnam International Value Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74669425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8672503 | &nbsp;&nbsp;&nbsp;&nbsp;3115536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9380625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78493083 |
| SA Small Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23442314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1948638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260729 | &nbsp;&nbsp;&nbsp;&nbsp;(1042427) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20711978 |
| SA Wellington Capital Appreciation Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47528651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3709015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1687827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45660015 |
|  | $— | $8009451 | $4300215452 | $141659182 | $487947606 | $(12569599) | $178024308 | $4119381737 |

---

---

| | |
|:---|:---|
| <sup>†</sup> | Includes reinvestment of distributions paid. |
| <sup>(1)</sup> | Includes amounts relating to fund mergers. |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** |
| **Security** | **Income** | **Capital Gain<br> Distribution<br> Received** | **Value at<br> January 31,<br> 2025** | **Cost of<br> Purchases<sup>†</sup>** | **Proceeds<br> from Sales** | **Realized<br> Gain/(Loss)** | **Change in<br> Unrealized<br> Gain (Loss)** | **Value at<br> July 31,<br> 2025** |
| **SunAmerica Series Trust** |  |  |  |  |  |  |  |  |
| SA Fixed Income Index Portfolio, Class 1 | $— | $— | $61250210 | $2418251 | $3500059 | $(459693) | $2263195 | $61971904 |
| SA Fixed Income Intermediate Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;62222269 | &nbsp;&nbsp;&nbsp;&nbsp;3218251 | &nbsp;&nbsp;&nbsp;&nbsp;3500059 | &nbsp;&nbsp;&nbsp;&nbsp;(267371) | &nbsp;&nbsp;&nbsp;&nbsp;2125355 | &nbsp;&nbsp;&nbsp;&nbsp;63798445 |
| SA International Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;49796325 | &nbsp;&nbsp;&nbsp;&nbsp;3956096 | &nbsp;&nbsp;&nbsp;&nbsp;2829663 | &nbsp;&nbsp;&nbsp;&nbsp;690395 | &nbsp;&nbsp;&nbsp;&nbsp;5661370 | &nbsp;&nbsp;&nbsp;&nbsp;57274523 |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** | **SA VCP Index Allocation Portfolio** |
| **Security** | **Income** | **Capital Gain<br> Distribution<br> Received** | **Value at<br> January 31,<br> 2025** | **Cost of<br> Purchases<sup>†</sup>** | **Proceeds<br> from Sales** | **Realized<br> Gain/(Loss)** | **Change in<br> Unrealized<br> Gain (Loss)** | **Value at<br> July 31,<br> 2025** |
| SA Large Cap Index Portfolio, Class 1 | $— | $— | $218618902 | $3233240 | $17693511 | $7251416 | $4067748 | $215477795 |
| SA Mid Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;35733152 | &nbsp;&nbsp;&nbsp;&nbsp;2141247 | &nbsp;&nbsp;&nbsp;&nbsp;1773363 | &nbsp;&nbsp;&nbsp;&nbsp;416529 | &nbsp;&nbsp;&nbsp;(1224297) | &nbsp;&nbsp;&nbsp;&nbsp;35293268 |
| SA Small Cap Index Portfolio, Class 1 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;22411498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354588 | &nbsp;&nbsp;&nbsp;&nbsp;2237070 | &nbsp;&nbsp;&nbsp;&nbsp;754914 | &nbsp;&nbsp;&nbsp;(1462306) | &nbsp;&nbsp;&nbsp;&nbsp;19821624 |
|  | $— | $— | $450032356 | $15321673 | $31533725 | $8386190 | $11431065 | $453637559 |

---

 <br> <sup>†</sup> Includes reinvestment of distributions paid.

&nbsp;&nbsp;&nbsp;&nbsp;The following Portfolios incurred brokerage commissions with affiliated brokers for the six months ended July 31, 2025:

---

| | |
|:---|:---|
| **Portfolio** | **National<br> Financial<br> Services, LLC** |
| SA Fidelity Institutional AM® International Growth | $1144 |
| SA Fidelity Institutional AM® Real Estate | &nbsp;&nbsp;&nbsp;4840 |

---

&nbsp;&nbsp;&nbsp;&nbsp;At July 31, 2025, the following affiliates owned outstanding shares of the following Portfolios:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;**American General<br> Life Insurance Co.** | &nbsp;&nbsp;**The United States<br> Life Insurance Co.** | &nbsp;&nbsp;**VALIC** | &nbsp;&nbsp;**SST<br> SA Allocation<br> Aggressive<br> Portfolio** | &nbsp;&nbsp;**SST<br> SA Allocation<br> Balanced<br> Portfolio** | &nbsp;&nbsp;**SST<br> SA Allocation<br> Moderate<br> Portfolio** | &nbsp;&nbsp;**SST<br> SA Allocation<br> Moderately<br> Aggressive<br> Portfolio** |
| SA AB Growth<br>| &nbsp;&nbsp;69.50% | &nbsp;&nbsp;&nbsp;3.66% | &nbsp;&nbsp;0.36% | &nbsp;&nbsp;1.19% | &nbsp;&nbsp;0.27% | &nbsp;&nbsp;0.52% | &nbsp;&nbsp;1.06% |
| SA AB Small & Mid Cap Value<br>| &nbsp;&nbsp;76.97 | &nbsp;&nbsp;&nbsp;4.47 | &nbsp;&nbsp;0.42 | &nbsp;&nbsp;0.45 | &nbsp;&nbsp;0.21 | &nbsp;&nbsp;0.30 | &nbsp;&nbsp;0.53 |
| SA BlackRock Multi-Factor 70/30<br>| &nbsp;&nbsp;91.14 | &nbsp;&nbsp;&nbsp;7.29 | &nbsp;&nbsp;1.57 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Emerging Markets Equity Index<br>| &nbsp;&nbsp;19.18 | &nbsp;&nbsp;&nbsp;1.62 | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;4.64 | &nbsp;&nbsp;0.60 | &nbsp;&nbsp;1.06 | &nbsp;&nbsp;3.30 |
| SA Federated Hermes Corporate Bond<br>| &nbsp;&nbsp;70.37 | &nbsp;&nbsp;&nbsp;4.23 | &nbsp;&nbsp;0.41 | &nbsp;&nbsp;0.69 | &nbsp;&nbsp;1.09 | &nbsp;&nbsp;0.98 | &nbsp;&nbsp;1.30 |
| SA Fidelity Institutional AM® Global Equities<br>| &nbsp;&nbsp;29.72 | &nbsp;&nbsp;&nbsp;1.66 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Fidelity Institutional AM® International Growth<br>| &nbsp;&nbsp;&nbsp;6.39 | &nbsp;&nbsp;&nbsp;1.03 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;7.62 | &nbsp;&nbsp;1.59 | &nbsp;&nbsp;2.55 | &nbsp;&nbsp;6.02 |
| SA Fidelity Institutional AM® Real Estate<br>| &nbsp;&nbsp;58.06 | &nbsp;&nbsp;&nbsp;3.41 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;2.87 | &nbsp;&nbsp;0.92 | &nbsp;&nbsp;1.30 | &nbsp;&nbsp;2.61 |
| SA Fixed Income Index<br>| &nbsp;&nbsp;14.49 | &nbsp;&nbsp;&nbsp;1.72 | &nbsp;&nbsp;0.80 | &nbsp;&nbsp;1.80 | &nbsp;&nbsp;2.81 | &nbsp;&nbsp;2.51 | &nbsp;&nbsp;3.39 |
| SA Fixed Income Intermediate Index<br>| &nbsp;&nbsp;&nbsp;9.30 | &nbsp;&nbsp;&nbsp;1.66 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;0.66 | &nbsp;&nbsp;1.31 | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;1.34 |
| SA Franklin BW U.S. Large Cap Value<br>| &nbsp;&nbsp;62.44 | &nbsp;&nbsp;&nbsp;2.56 | &nbsp;&nbsp;0.11 | &nbsp;&nbsp;1.51 | &nbsp;&nbsp;0.39 | &nbsp;&nbsp;0.65 | &nbsp;&nbsp;1.25 |
| SA Franklin Small Company Value<br>| &nbsp;&nbsp;60.49 | &nbsp;&nbsp;&nbsp;4.49 | &nbsp;&nbsp;0.32 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;0.66 |
| SA Franklin Systematic U.S. Large Cap Core<br>| &nbsp;&nbsp;&nbsp;7.61 | &nbsp;&nbsp;&nbsp;0.45 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;2.89 | &nbsp;&nbsp;0.91 | &nbsp;&nbsp;1.43 | &nbsp;&nbsp;2.58 |
| SA Franklin Systematic U.S. Large Cap Value<br>| &nbsp;&nbsp;42.26 | &nbsp;&nbsp;&nbsp;2.51 | &nbsp;&nbsp;0.76 | &nbsp;&nbsp;2.66 | &nbsp;&nbsp;0.62 | &nbsp;&nbsp;1.11 | &nbsp;&nbsp;2.19 |
| SA Franklin Tactical Opportunities<br>| &nbsp;&nbsp;90.14 | &nbsp;&nbsp;&nbsp;9.14 | &nbsp;&nbsp;0.72 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Global Index Allocation 60/40<br>| &nbsp;&nbsp;85.87 | &nbsp;&nbsp;11.78 | &nbsp;&nbsp;2.35 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Global Index Allocation 75/25<br>| &nbsp;&nbsp;86.93 | &nbsp;&nbsp;10.58 | &nbsp;&nbsp;2.49 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Global Index Allocation 90/10<br>| &nbsp;&nbsp;90.45 | &nbsp;&nbsp;&nbsp;7.27 | &nbsp;&nbsp;2.28 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Goldman Sachs Multi-Asset Insights<br>| &nbsp;&nbsp;73.15 | &nbsp;&nbsp;18.48 | &nbsp;&nbsp;8.37 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Index Allocation 60/40<br>| &nbsp;&nbsp;85.18 | &nbsp;&nbsp;11.17 | &nbsp;&nbsp;3.65 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Index Allocation 80/20<br>| &nbsp;&nbsp;82.36 | &nbsp;&nbsp;14.73 | &nbsp;&nbsp;2.91 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Index Allocation 90/10<br>| &nbsp;&nbsp;86.34 | &nbsp;&nbsp;10.25 | &nbsp;&nbsp;3.41 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA International Index<br>| &nbsp;&nbsp;&nbsp;3.48 | &nbsp;&nbsp;&nbsp;0.36 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;2.19 | &nbsp;&nbsp;0.46 | &nbsp;&nbsp;0.84 | &nbsp;&nbsp;1.78 |
| SA Invesco Growth Opportunities<br>| &nbsp;&nbsp;55.34 | &nbsp;&nbsp;&nbsp;3.75 | &nbsp;&nbsp;0.38 | &nbsp;&nbsp;0.96 | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;0.36 | &nbsp;&nbsp;0.74 |
| SA Janus Focused Growth<br>| &nbsp;&nbsp;42.57 | &nbsp;&nbsp;&nbsp;2.98 | &nbsp;&nbsp;0.31 | &nbsp;&nbsp;1.74 | &nbsp;&nbsp;0.51 | &nbsp;&nbsp;0.87 | &nbsp;&nbsp;1.49 |
| SA JPMorgan Diversified Balanced<br>| &nbsp;&nbsp;93.57 | &nbsp;&nbsp;&nbsp;5.75 | &nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Emerging Markets<br>| &nbsp;&nbsp;67.19 | &nbsp;&nbsp;&nbsp;4.37 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;3.23 | &nbsp;&nbsp;0.51 | &nbsp;&nbsp;0.99 | &nbsp;&nbsp;2.58 |
| SA JPMorgan Equity-Income<br>| &nbsp;&nbsp;55.56 | &nbsp;&nbsp;&nbsp;3.22 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;1.68 | &nbsp;&nbsp;0.48 | &nbsp;&nbsp;0.79 | &nbsp;&nbsp;1.61 |
| SA JPMorgan Large Cap Core<br>| &nbsp;&nbsp;26.85 | &nbsp;&nbsp;&nbsp;2.58 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;2.39 | &nbsp;&nbsp;0.56 | &nbsp;&nbsp;0.99 | &nbsp;&nbsp;2.05 |
| SA JPMorgan MFS Core Bond<br>| &nbsp;&nbsp;45.04 | &nbsp;&nbsp;&nbsp;2.76 | &nbsp;&nbsp;0.33 | &nbsp;&nbsp;1.28 | &nbsp;&nbsp;2.10 | &nbsp;&nbsp;1.84 | &nbsp;&nbsp;2.58 |
| SA JPMorgan Mid-Cap Growth<br>| &nbsp;&nbsp;72.90 | &nbsp;&nbsp;&nbsp;4.76 | &nbsp;&nbsp;0.51 | &nbsp;&nbsp;0.80 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;0.39 | &nbsp;&nbsp;0.71 |
| SA JPMorgan Ultra-Short Bond<br>| &nbsp;&nbsp;68.50 | &nbsp;&nbsp;&nbsp;7.48 | &nbsp;&nbsp;0.64 | &nbsp;&nbsp;0.42 | &nbsp;&nbsp;0.71 | &nbsp;&nbsp;0.78 | &nbsp;&nbsp;0.90 |
| SA Large Cap Growth Index<br>| &nbsp;&nbsp;&nbsp;9.91 | &nbsp;&nbsp;&nbsp;1.04 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;3.85 | &nbsp;&nbsp;0.92 | &nbsp;&nbsp;1.53 | &nbsp;&nbsp;3.18 |
| SA Large Cap Index<br>| &nbsp;&nbsp;&nbsp;4.39 | &nbsp;&nbsp;&nbsp;0.38 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;1.22 | &nbsp;&nbsp;0.32 | &nbsp;&nbsp;0.47 | &nbsp;&nbsp;1.00 |
| SA Large Cap Value Index<br>| &nbsp;&nbsp;10.62 | &nbsp;&nbsp;&nbsp;1.14 | &nbsp;&nbsp;0.13 | &nbsp;&nbsp;3.35 | &nbsp;&nbsp;1.06 | &nbsp;&nbsp;1.44 | &nbsp;&nbsp;2.93 |
| SA MFS Large Cap Growth<br>| &nbsp;&nbsp;32.12 | &nbsp;&nbsp;&nbsp;4.84 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;2.92 | &nbsp;&nbsp;0.65 | &nbsp;&nbsp;1.05 | &nbsp;&nbsp;2.14 |
| SA MFS Massachusetts Investors Trust<br>| &nbsp;&nbsp;52.63 | &nbsp;&nbsp;&nbsp;2.39 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;1.05 | &nbsp;&nbsp;0.39 | &nbsp;&nbsp;0.60 | &nbsp;&nbsp;1.07 |

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;**American General<br> Life Insurance Co.** | &nbsp;&nbsp;**The United States<br> Life Insurance Co.** | &nbsp;&nbsp;**VALIC** | &nbsp;&nbsp;**SST<br> SA Allocation<br> Aggressive<br> Portfolio** | &nbsp;&nbsp;**SST<br> SA Allocation<br> Balanced<br> Portfolio** | &nbsp;&nbsp;**SST<br> SA Allocation<br> Moderate<br> Portfolio** | &nbsp;&nbsp;**SST<br> SA Allocation<br> Moderately<br> Aggressive<br> Portfolio** |
| SA MFS Total Return<br>| &nbsp;&nbsp;95.99% | &nbsp;&nbsp;&nbsp;3.73% | &nbsp;&nbsp;0.28% | &nbsp;&nbsp;&nbsp;&nbsp;—% | &nbsp;&nbsp;&nbsp;&nbsp;—% | &nbsp;&nbsp;&nbsp;&nbsp;—% | &nbsp;&nbsp;&nbsp;&nbsp;—% |
| SA Mid Cap Index<br>| &nbsp;&nbsp;16.50 | &nbsp;&nbsp;&nbsp;1.58 | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;0.32 | &nbsp;&nbsp;0.48 | &nbsp;&nbsp;0.85 |
| SA Morgan Stanley International Equities<br>| &nbsp;&nbsp;38.18 | &nbsp;&nbsp;&nbsp;2.11 | &nbsp;&nbsp;0.23 | &nbsp;&nbsp;4.70 | &nbsp;&nbsp;1.04 | &nbsp;&nbsp;1.66 | &nbsp;&nbsp;3.80 |
| SA PIMCO Global Bond Opportunities<br>| &nbsp;&nbsp;80.11 | &nbsp;&nbsp;&nbsp;7.11 | &nbsp;&nbsp;0.80 | &nbsp;&nbsp;0.42 | &nbsp;&nbsp;0.23 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;0.45 |
| SA PIMCO RAE International Value<br>| &nbsp;&nbsp;71.62 | &nbsp;&nbsp;&nbsp;3.16 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;1.69 | &nbsp;&nbsp;0.55 | &nbsp;&nbsp;0.80 | &nbsp;&nbsp;1.57 |
| SA PineBridge High-Yield Bond<br>| &nbsp;&nbsp;57.38 | &nbsp;&nbsp;&nbsp;3.44 | &nbsp;&nbsp;0.56 | &nbsp;&nbsp;2.07 | &nbsp;&nbsp;3.17 | &nbsp;&nbsp;2.76 | &nbsp;&nbsp;3.69 |
| SA Putnam International Value<br>| &nbsp;&nbsp;41.37 | &nbsp;&nbsp;&nbsp;2.58 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;3.97 | &nbsp;&nbsp;1.02 | &nbsp;&nbsp;1.78 | &nbsp;&nbsp;3.60 |
| SA Schroders VCP Global Allocation<br>| &nbsp;&nbsp;85.20 | &nbsp;&nbsp;11.02 | &nbsp;&nbsp;3.78 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Small Cap Index<br>| &nbsp;&nbsp;24.41 | &nbsp;&nbsp;&nbsp;2.38 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;1.14 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;0.36 | &nbsp;&nbsp;0.97 |
| SA T. Rowe Price Allocation Moderately Aggressive<br>| &nbsp;&nbsp;91.69 | &nbsp;&nbsp;&nbsp;7.71 | &nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA T. Rowe Price VCP Balanced<br>| &nbsp;&nbsp;87.65 | &nbsp;&nbsp;&nbsp;9.24 | &nbsp;&nbsp;3.11 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Dynamic Allocation<br>| &nbsp;&nbsp;89.48 | &nbsp;&nbsp;&nbsp;9.00 | &nbsp;&nbsp;1.52 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Dynamic Strategy<br>| &nbsp;&nbsp;88.05 | &nbsp;&nbsp;10.26 | &nbsp;&nbsp;1.69 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Index Allocation<br>| &nbsp;&nbsp;79.82 | &nbsp;&nbsp;13.51 | &nbsp;&nbsp;6.67 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;**SAST<br> SA Global<br> Index<br> Allocation<br> 60/40 Portfolio** | &nbsp;&nbsp;**SAST<br> SA Global<br> Index<br> Allocation<br> 75/25<br> Portfolio** | &nbsp;&nbsp;**SAST<br> SA Global<br> Index<br> Allocation<br> 90/10<br> Portfolio** | &nbsp;&nbsp;**SAST<br> SA Index<br> Allocation<br> 60/40<br> Portfolio** | &nbsp;&nbsp;**SAST<br> SA Index<br> Allocation<br> 80/20<br> Portfolio** | &nbsp;&nbsp;**SAST<br> SA Index<br> Allocation<br> 90/10<br> Portfolio** | &nbsp;&nbsp;**SAST<br> SA VCP<br> Dynamic<br> Strategy<br> Portfolio** | &nbsp;&nbsp;**SAST<br> SA VCP<br> Dynamic<br> Allocation<br> Portfolio** | &nbsp;&nbsp;**SAST<br> SA VCP<br> Index<br> Allocation<br> Portfolio** |
| SA AB Growth<br>| &nbsp;&nbsp;&nbsp;&nbsp;—% | &nbsp;&nbsp;&nbsp;&nbsp;—% | &nbsp;&nbsp;&nbsp;&nbsp;—% | &nbsp;&nbsp;&nbsp;&nbsp;—% | &nbsp;&nbsp;&nbsp;&nbsp;—% | &nbsp;&nbsp;&nbsp;&nbsp;—% | &nbsp;&nbsp;&nbsp;6.95% | &nbsp;&nbsp;16.28% | &nbsp;&nbsp;&nbsp;&nbsp;—% |
| SA AB Small & Mid Cap Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;14.60 | &nbsp;&nbsp;&nbsp;2.05 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA BlackRock Multi-Factor 70/30<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Emerging Markets Equity Index<br>| &nbsp;&nbsp;3.19 | &nbsp;&nbsp;5.34 | &nbsp;&nbsp;19.66 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;16.40 | &nbsp;&nbsp;24.86 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Federated Hermes Corporate Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;5.88 | &nbsp;&nbsp;15.05 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Fidelity Institutional AM® Global Equities<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;22.75 | &nbsp;&nbsp;45.78 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Fidelity Institutional AM® International Growth<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;24.76 | &nbsp;&nbsp;49.98 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Fidelity Institutional AM® Real Estate<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;10.57 | &nbsp;&nbsp;20.09 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Fixed Income Index<br>| &nbsp;&nbsp;3.60 | &nbsp;&nbsp;2.15 | &nbsp;&nbsp;&nbsp;2.93 | &nbsp;&nbsp;&nbsp;9.12 | &nbsp;&nbsp;&nbsp;8.23 | &nbsp;&nbsp;10.70 | &nbsp;&nbsp;&nbsp;6.93 | &nbsp;&nbsp;17.62 | &nbsp;&nbsp;11.20 |
| SA Fixed Income Intermediate Index<br>| &nbsp;&nbsp;4.15 | &nbsp;&nbsp;2.51 | &nbsp;&nbsp;&nbsp;3.37 | &nbsp;&nbsp;10.56 | &nbsp;&nbsp;&nbsp;9.50 | &nbsp;&nbsp;12.23 | &nbsp;&nbsp;&nbsp;7.45 | &nbsp;&nbsp;21.72 | &nbsp;&nbsp;12.90 |
| SA Franklin BW U.S. Large Cap Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;12.99 | &nbsp;&nbsp;18.10 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Franklin Small Company Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;9.21 | &nbsp;&nbsp;24.25 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Franklin Systematic U.S. Large Cap Core<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;34.44 | &nbsp;&nbsp;49.69 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Franklin Systematic U.S. Large Cap Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;22.72 | &nbsp;&nbsp;25.17 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Franklin Tactical Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Global Index Allocation 60/40<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Global Index Allocation 75/25<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Global Index Allocation 90/10<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Goldman Sachs Multi-Asset Insights<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Index Allocation 60/40<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Index Allocation 80/20<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Index Allocation 90/10<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA International Index<br>| &nbsp;&nbsp;2.94 | &nbsp;&nbsp;3.48 | &nbsp;&nbsp;15.89 | &nbsp;&nbsp;&nbsp;2.89 | &nbsp;&nbsp;&nbsp;8.23 | &nbsp;&nbsp;30.40 | &nbsp;&nbsp;&nbsp;8.83 | &nbsp;&nbsp;12.27 | &nbsp;&nbsp;&nbsp;5.92 |
| SA Invesco Growth Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;7.07 | &nbsp;&nbsp;31.25 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Janus Focused Growth<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;19.43 | &nbsp;&nbsp;30.10 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Diversified Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Emerging Markets<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;6.17 | &nbsp;&nbsp;14.68 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Equity-Income<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;16.27 | &nbsp;&nbsp;20.21 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Large Cap Core<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;37.37 | &nbsp;&nbsp;27.02 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan MFS Core Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;11.27 | &nbsp;&nbsp;32.80 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Mid-Cap Growth<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;6.19 | &nbsp;&nbsp;13.48 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Ultra-Short Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;4.92 | &nbsp;&nbsp;15.65 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Large Cap Growth Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;24.61 | &nbsp;&nbsp;54.79 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Large Cap Index<br>| &nbsp;&nbsp;0.79 | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;4.20 | &nbsp;&nbsp;&nbsp;3.40 | &nbsp;&nbsp;&nbsp;8.24 | &nbsp;&nbsp;25.34 | &nbsp;&nbsp;13.93 | &nbsp;&nbsp;28.88 | &nbsp;&nbsp;&nbsp;6.34 |
| SA Large Cap Value Index<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;33.47 | &nbsp;&nbsp;45.86 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA MFS Large Cap Growth<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;19.09 | &nbsp;&nbsp;36.91 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA MFS Massachusetts Investors Trust<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;21.98 | &nbsp;&nbsp;19.70 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA MFS Total Return<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Mid Cap Index<br>| &nbsp;&nbsp;1.07 | &nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;6.35 | &nbsp;&nbsp;&nbsp;3.03 | &nbsp;&nbsp;10.76 | &nbsp;&nbsp;29.90 | &nbsp;&nbsp;&nbsp;7.79 | &nbsp;&nbsp;11.69 | &nbsp;&nbsp;&nbsp;7.08 |
| SA Morgan Stanley International Equities<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;13.14 | &nbsp;&nbsp;35.14 | &nbsp;&nbsp;&nbsp;&nbsp;— |

---

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;**SAST<br> SA Global<br> Index<br> Allocation<br> 60/40 Portfolio** | &nbsp;&nbsp;**SAST<br> SA Global<br> Index<br> Allocation<br> 75/25<br> Portfolio** | &nbsp;&nbsp;**SAST<br> SA Global<br> Index<br> Allocation<br> 90/10<br> Portfolio** | &nbsp;&nbsp;**SAST<br> SA Index<br> Allocation<br> 60/40<br> Portfolio** | &nbsp;&nbsp;**SAST<br> SA Index<br> Allocation<br> 80/20<br> Portfolio** | &nbsp;&nbsp;**SAST<br> SA Index<br> Allocation<br> 90/10<br> Portfolio** | &nbsp;&nbsp;**SAST<br> SA VCP<br> Dynamic<br> Strategy<br> Portfolio** | &nbsp;&nbsp;**SAST<br> SA VCP<br> Dynamic<br> Allocation<br> Portfolio** | &nbsp;&nbsp;**SAST<br> SA VCP<br> Index<br> Allocation<br> Portfolio** |
| SA PIMCO Global Bond Opportunities<br>| &nbsp;&nbsp;&nbsp;&nbsp;—% | &nbsp;&nbsp;&nbsp;&nbsp;—% | &nbsp;&nbsp;&nbsp;&nbsp;—% | &nbsp;&nbsp;&nbsp;&nbsp;—% | &nbsp;&nbsp;&nbsp;&nbsp;—% | &nbsp;&nbsp;&nbsp;&nbsp;—% | &nbsp;&nbsp;&nbsp;4.30% | &nbsp;&nbsp;&nbsp;6.32% | &nbsp;&nbsp;&nbsp;&nbsp;—% |
| SA PIMCO RAE International Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;10.65 | &nbsp;&nbsp;&nbsp;9.82 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA PineBridge High-Yield Bond<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;8.75 | &nbsp;&nbsp;18.18 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Putnam International Value<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;24.18 | &nbsp;&nbsp;21.46 | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Schroders VCP Global Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Small Cap Index<br>| &nbsp;&nbsp;0.57 | &nbsp;&nbsp;1.16 | &nbsp;&nbsp;5.26 | &nbsp;&nbsp;4.06 | &nbsp;&nbsp;7.81 | &nbsp;&nbsp;22.35 | &nbsp;&nbsp;&nbsp;7.03 | &nbsp;&nbsp;15.15 | &nbsp;&nbsp;6.73 |
| SA T. Rowe Price Allocation Moderately Aggressive<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA T. Rowe Price VCP Balanced<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Dynamic Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Dynamic Strategy<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |
| SA VCP Index Allocation<br>| &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— |

---

&nbsp;&nbsp;&nbsp;&nbsp;The fund-of-funds do not invest in the Underlying Portfolios for the purpose of exercising management or control; however, investments by these Portfolios within the set limits across their asset allocations may represent a significant portion of net assets of the Underlying Portfolios.

&nbsp;&nbsp;&nbsp;&nbsp;The Portfolios are permitted to transfer securities by purchasing from and/or selling to other affiliated funds under certain conditions approved by the Board. The affiliated funds involved in such transactions must have a common investment adviser or investment advisers which are affiliated persons of each other, common Trustees, and/or common officers in compliance with Rule 17a-7 of the 1940 Act. Pursuant to the 1940 Act, such a transaction must be either a purchase or a sale, for no consideration other than cash payment against prompt delivery of the security at the current market price. No brokerage commission or fee (except for customary transfer fees), or other remuneration is paid in connection with such transactions. For the six months ended July 31, 2025, the following Portfolios engaged in security transactions with affiliated funds:

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;**Cost of<br> Purchases** | &nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;**Realized<br> Gain (Loss)** |
| SA Emerging Markets Equity Index<br>| &nbsp;&nbsp;$590888 | &nbsp;&nbsp;$54601 | &nbsp;&nbsp;$3886 |
| SA International Index<br>| &nbsp;&nbsp;&nbsp;5284543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37409) |
| SA Large Cap Growth Index<br>| &nbsp;&nbsp;&nbsp;3196737 | &nbsp;&nbsp;&nbsp;&nbsp;5821452 | &nbsp;&nbsp;&nbsp;&nbsp;2839728 |
| SA Large Cap Index<br>| &nbsp;&nbsp;&nbsp;5936936 | &nbsp;&nbsp;&nbsp;15305497 | &nbsp;&nbsp;&nbsp;10223144 |
| SA Large Cap Value Index<br>| &nbsp;&nbsp;&nbsp;4082203 | &nbsp;&nbsp;&nbsp;&nbsp;2607643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(98721) |
| SA MFS Total Return<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Mid Cap Index<br>| &nbsp;&nbsp;&nbsp;2848922 | &nbsp;&nbsp;&nbsp;&nbsp;1364033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99009 |
| SA Small Cap Index<br>| &nbsp;&nbsp;&nbsp;9023367 | &nbsp;&nbsp;&nbsp;11615913 | &nbsp;&nbsp;&nbsp;&nbsp;6438592 |

---

#### Note 9 — Investment Concentration and Other Risks
&nbsp;&nbsp;&nbsp;&nbsp;Investments in stocks and bonds are subject to risks, including stock market and interest rate fluctuations. Investment prices can fall or be adversely affected by a number of factors, including, without limitation: weakness in the broad market, a particular industry, or specific holdings; adverse political, regulatory or economic developments here or abroad; changes in investor psychology; heavy institutional selling; military confrontations, war, terrorism and other armed conflicts, disease/virus outbreaks and epidemics; recessions; taxation and international tax treaties; currency, interest rate and price fluctuations; and other conditions or events. Investments in growth stocks as well as small and mid-cap company stocks may be subject to volatile price swings and therefore present a greater potential for loss than other investments. Investments in non-U.S. stocks and bonds are subject to additional risks such as fluctuations in foreign currencies, political and economic instability, differences in securities regulation and accounting standards, foreign tax laws, and limited availability of public information. Income seeking investment strategies may not be realized due to changes in dividend policies or the availability of capital resources.

&nbsp;&nbsp;&nbsp;&nbsp;Investments that concentrate on one economic sector or geographic region are generally subject to greater volatility than more diverse investments. SA Fidelity Institutional AM® Real Estate Portfolio invests primarily in the real estate industry. A Portfolio that invests primarily in the real estate industry is subject to the risks associated with the direct ownership of real estate and could also be subject to the risks of direct ownership as a result of a default on a debt security it may own. These risks include declines in the value of real estate, risks related to general and local economic conditions, overbuilding and increased competition, increases in property taxes and operating expenses, changes in zoning laws, casualty or condemnation losses, fluctuations in rental income, changes in neighborhood values, the appeal of properties to tenants and increases in interest rates. If a Portfolio has rental income or income from the disposition of real property, the receipt of such income may adversely affect its ability to retain its tax status as a regulated investment company.

&nbsp;&nbsp;&nbsp;&nbsp;Certain Portfolios invest internationally, including in "emerging market" countries. Emerging market securities involve risks not typically associated with investing in securities of issuers in more developed markets. The markets of emerging market countries are typically more volatile and potentially less liquid than more developed countries. These securities may be denominated in currencies other than U.S. dollars. While investing internationally may reduce portfolio risk by increasing the diversification of portfolio investments, the value of the investment may be affected by fluctuating currency values, changing local and regional economic, political and social conditions, and greater market volatility. These risks are primary risks of the SA Emerging Markets Equity Index, SA International Index, SA JPMorgan Emerging Markets, SA Morgan Stanley International Equities, SA PIMCO Global Bond Opportunities, SA PIMCO RAE International Value and SA Putnam International Value Portfolios.

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

&nbsp;&nbsp;&nbsp;&nbsp;Each Portfolio may invest in obligations issued by agencies and instrumentalities of the U.S. Government that may vary in the level of support they receive from the government. The government may choose not to provide financial support to government sponsored agencies or instrumentalities if it is not legally obligated to do so, and if the issuer defaults, a portfolio holding securities of such issuer might not be able to recover its investment from the U.S. Government. As a result of the SA BlackRock VCP Global Multi Asset, SA Fixed Income Index, SA Fixed Income Intermediate Index, SA JPMorgan MFS Core Bond, SA MFS Total Return, SA PIMCO Global Bond Opportunities and SA PIMCO VCP Tactical Balanced Portfolios concentration in such investments, these funds may be subject to risks associated with the U.S. Government, its agencies or instrumentalities.

&nbsp;&nbsp;&nbsp;&nbsp;SA PineBridge High-Yield Bond Portfolio's investment in high yield securities, whether rated or unrated, may be considered speculative and subject to greater market fluctuations and risk of loss of income and principal than lower-yielding, higher-rated, fixed-income securities. The risk of loss due to default by the issuer may be significantly greater for the holders of high yield securities, because such securities are generally unsecured and are often subordinated to other creditors of the issuer.

#### Note 10 — Line of Credit
&nbsp;&nbsp;&nbsp;&nbsp;The Trust, along with certain other funds managed by the Adviser, has access to a $75 million committed unsecured line of credit and a $100 million uncommitted unsecured line of credit. The committed and uncommitted lines of credit are renewable on an annual basis with State Street Bank and Trust Company ("State Street"), the Trust's custodian. Interest on each of the committed and uncommitted lines of credit is payable at a variable rate per annum equal to the Applicable Rate plus one and one quarter of one percent (1.25%). The Applicable Rate per annum shall be equal to the higher of (a) the federal funds effective rate on such date and (b) the overnight bank funding rate on such date, plus, in each case, 10 basis points. Notwithstanding anything to the contrary, if the federal funds effective rate or the overnight bank funding rate shall be less than zero, then the federal funds effective rate or the overnight bank funding rate, shall be deemed to be zero for the purposes of determining the rate. The Trust, on behalf of each of the Portfolios, has paid State Street, such Portfolio's ratable portion of an upfront fee in an amount equal to $90,000 in the aggregate for the uncommitted line of credit made available by State Street to certain other funds managed by the Adviser, which are also party to the uncommitted line of credit. There is also a commitment fee of 30 basis points per annum on the daily unused portion of the committed line of credit. Borrowings under the line of credit will commence when the respective Portfolio's cash shortfall exceeds $100,000. For the six months ended July 31, 2025, the following Portfolios had borrowings:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio** | &nbsp;&nbsp;**Days<br> Outstanding** | &nbsp;&nbsp;**Interest<br> Charges** | &nbsp;&nbsp;**Average<br> Debt<br> Utilized** | &nbsp;&nbsp;**Weighted<br> Average<br> Interest** | &nbsp;&nbsp;**Balance<br> Outstanding<br> at 07/31/25** |
| SA AB Growth<br>| &nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;$1692 | &nbsp;&nbsp;$10725000 | &nbsp;&nbsp;5.68% | &nbsp;&nbsp;$— |
| SA Emerging Markets Equity Index<br>| &nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218750 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Fidelity Institutional AM® Global Equities<br>| &nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;653571 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Fidelity Institutional AM® International Growth<br>| &nbsp;&nbsp;54 | &nbsp;&nbsp;&nbsp;11916 | &nbsp;&nbsp;&nbsp;&nbsp;1348611 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Fidelity Institutional AM® Real Estate<br>| &nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417857 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Fixed Income Index<br>| &nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;3574 | &nbsp;&nbsp;&nbsp;&nbsp;2516667 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Fixed Income Intermediate Index<br>| &nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;1783 | &nbsp;&nbsp;&nbsp;&nbsp;1614286 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Franklin BW U.S. Large Cap Value<br>| &nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588 | &nbsp;&nbsp;&nbsp;&nbsp;3725000 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Franklin Small Company Value<br>| &nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225000 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Franklin Systematic U.S. Large Cap Core<br>| &nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Franklin Systematic U.S. Large Cap Value<br>| &nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416667 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA International Index<br>| &nbsp;&nbsp;64 | &nbsp;&nbsp;&nbsp;&nbsp;8843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875781 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Invesco Growth Opportunities<br>| &nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588889 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Janus Focused Growth<br>| &nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;1274 | &nbsp;&nbsp;&nbsp;&nbsp;8075000 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan MFS Core Bond<br>| &nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;817 | &nbsp;&nbsp;&nbsp;&nbsp;1035000 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA JPMorgan Mid-Cap Growth<br>| &nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;2434 | &nbsp;&nbsp;&nbsp;15425000 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Large Cap Growth Index<br>| &nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;1144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805556 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Large Cap Index<br>| &nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;4501 | &nbsp;&nbsp;&nbsp;&nbsp;3169444 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Large Cap Value Index<br>| &nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;3002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761000 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA MFS Large Cap Growth<br>| &nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;3680 | &nbsp;&nbsp;&nbsp;&nbsp;2332500 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA MFS Massachusetts Investors Trust<br>| &nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;6777 | &nbsp;&nbsp;&nbsp;&nbsp;4295000 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA MFS Total Return<br>| &nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525000 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Mid Cap Index<br>| &nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA Morgan Stanley International Equities<br>| &nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975000 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA PIMCO Global Bond Opportunities<br>| &nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;4445 | &nbsp;&nbsp;&nbsp;&nbsp;1127000 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| SA PIMCO RAE International Value<br>| &nbsp;&nbsp;22 | &nbsp;&nbsp;&nbsp;&nbsp;8682 | &nbsp;&nbsp;&nbsp;&nbsp;2501136 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 |
| SA Putnam International Value<br>| &nbsp;&nbsp;21 | &nbsp;&nbsp;&nbsp;&nbsp;1574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;4350000 |
| SA Small Cap Index<br>| &nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp;5.68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

#### Note 11 — Interfund Lending Agreement
&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the exemptive relief granted by the SEC, the Portfolios are permitted to participate in an interfund lending program among investment companies advised by SAAMCo or an affiliate. The interfund lending program allows the participating Portfolios to borrow money from and lend money to each other for temporary or emergency purposes. An interfund loan will be made under this facility only if the participating Portfolios receive a more favorable interest rate than would otherwise be available from a typical bank for a comparable transaction. For the six months ended July 31, 2025, none of the Portfolios participated in this program.

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

#### Note 12 — Other Matters
&nbsp;&nbsp;&nbsp;&nbsp;On June 26, 2025, Corebridge, SunAmerica's ultimate parent company, and Venerable Holdings, Inc. ("Venerable") announced that they entered into a definitive agreement, pursuant to which Venerable will acquire SunAmerica (the "Transaction"). On September 18, 2025, the Board of Trustees approved a new substantially identical Investment Advisory and Management Agreement with SunAmerica with respect to the Portfolios, which will be presented to the shareholders of each Portfolio for approval. The Transaction is expected to close in the fourth quarter of 2025, pending satisfaction of all closing conditions. The Transaction is not expected to result in any change in the portfolio management of the Portfolios or in the Portfolios' investment objectives or policies.

#### Note 13 — Portfolio Mergers
&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to an Agreement and Plan of Reorganization, all of the assets and liabilities of the SA T. Rowe Price Growth Stock Portfolio (a "Target Portfolio"), a series of Seasons Series Trust, were transferred in a tax-free exchange to the SA MFS Large Cap Growth Portfolio (an "Acquiring Portfolio"), in exchange for shares of the SA MFS Large Cap Growth Portfolio. The reorganization was consummated on April 28, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to an Agreement and Plan of Reorganization, all of the assets and liabilities of the SA BlackRock VCP Global Multi Asset Portfolio (a "Target Portfolio"), a series of SunAmerica Series Trust, were transferred in a tax-free exchange to the SA VCP Dynamic Allocation Portfolio (an "Acquiring Portfolio"), in exchange for shares of the SA VCP Dynamic Allocation Portfolio. The reorganization was consummated on April 28, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to an Agreement and Plan of Reorganization, all of the assets and liabilities of the SA PIMCO VCP Tactical Balanced Portfolio (a "Target Portfolio"), a series of SunAmerica Series Trust, were transferred in a tax-free exchange to the SA VCP Dynamic Allocation Portfolio (an "Acquiring Portfolio"), in exchange for shares of the SA VCP Dynamic Allocation Portfolio. The reorganization was consummated on April 28, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;The table below shows the following information for of the Reorganizations:

• The exchange ratio of shares of each Target Portfolio that were exchanged tax-free for shares of the Acquiring Portfolio.

• The number and value of shares of the Acquiring Portfolio issued in connection with the acquisition of each Target Portfolio.

• The value and identified cost, including cash, as of the respective Reorganization Date of the assets in the investment portfolio of each Target Portfolio. These were the principal
assets acquired by the Acquiring Portfolio.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Acquiring Portfolio** | &nbsp;&nbsp;**Target Portfolio** | &nbsp;&nbsp;**Exchange<br> Ratio** | &nbsp;&nbsp;**Number of<br> Shares Issued by<br> Acquiring Portfolio** | &nbsp;&nbsp;**Value of Shares<br> Issued by<br> Acquiring Portfolio** | &nbsp;&nbsp;**Value of Assets in<br> the Investment<br> Portfolio of the<br> Target Portfolio** | &nbsp;&nbsp;**Cost of Assets in<br> the Investment<br> Portfolio of the<br> Target Portfolio** |
| SA MFS Large Cap Growth Portfolio<br>| &nbsp;&nbsp;SA T. Rowe Price Growth Stock Portfolio |  |  |  | &nbsp;&nbsp;$181463916 | &nbsp;&nbsp;$140131659 |
| Class 1<br>|  | &nbsp;&nbsp;0.7895 | &nbsp;&nbsp;&nbsp;8723920 | &nbsp;&nbsp;$132500092 |  |  |
| Class 2<br>|  | &nbsp;&nbsp;0.6750 | &nbsp;&nbsp;&nbsp;1782816 | &nbsp;&nbsp;&nbsp;&nbsp;26781686 |  |  |
| Class 3<br>|  | &nbsp;&nbsp;0.6118 | &nbsp;&nbsp;&nbsp;1490965 | &nbsp;&nbsp;&nbsp;&nbsp;21985668 |  |  |
| SA VCP Dynamic Allocation Portfolio<br>| &nbsp;&nbsp;SA BlackRock VCP Global Multi Asset Portfolio |  |  |  | &nbsp;&nbsp;&nbsp;601359358 | &nbsp;&nbsp;&nbsp;601308605 |
| Class 1<br>|  | &nbsp;&nbsp;0.8537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341546 |  |  |
| Class 3<br>|  | &nbsp;&nbsp;0.8526 | &nbsp;&nbsp;51736100 | &nbsp;&nbsp;&nbsp;602347888 |  |  |
| SA VCP Dynamic Allocation Portfolio<br>| &nbsp;&nbsp;SA PIMCO VCP Tactical Balanced Portfolio |  |  |  | &nbsp;&nbsp;&nbsp;810466640 | &nbsp;&nbsp;&nbsp;810466640 |
| Class 1<br>|  | &nbsp;&nbsp;0.7827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95685 |  |  |
| Class 3<br>|  | &nbsp;&nbsp;0.7738 | &nbsp;&nbsp;69523055 | &nbsp;&nbsp;&nbsp;809436080 |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;For financial statement purposes, assets received and shares issued by the Acquiring Portfolio were recorded at value; however, the cost basis of the investments received from the Target Portfolios were carried forward to align ongoing reporting of the Acquiring Portfolio's realized and unrealized gains and losses with amounts distributable to shareholders for tax purposes.

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### NOTES TO FINANCIAL STATEMENTS — (continued)

------

&nbsp;&nbsp;&nbsp;&nbsp;The following is a summary of the shares outstanding, net assets, net asset value per share and net unrealized appreciation (depreciation) immediately before and after the Reorganization:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SA MFS Large Cap Growth Portfolio (formerly SA MFS Blue Chip Growth Portfolio)** | **SA MFS Large Cap Growth Portfolio (formerly SA MFS Blue Chip Growth Portfolio)** | **SA MFS Large Cap Growth Portfolio (formerly SA MFS Blue Chip Growth Portfolio)** | **SA MFS Large Cap Growth Portfolio (formerly SA MFS Blue Chip Growth Portfolio)** | **SA MFS Large Cap Growth Portfolio (formerly SA MFS Blue Chip Growth Portfolio)** |
| **Target Portfolio** | &nbsp;&nbsp;**Shares<br> Outstanding** | &nbsp;&nbsp;**Net Assets** | &nbsp;&nbsp;**Net Asset<br> Value<br> Per Share** | &nbsp;&nbsp;**Net Unrealized<br> Appreciation<br> (Depreciation)** |
| SA T. Rowe Price Growth Stock Portfolio | SA T. Rowe Price Growth Stock Portfolio | SA T. Rowe Price Growth Stock Portfolio |  |  |
| Class 1<br>| &nbsp;&nbsp;11049342 | &nbsp;&nbsp;$132500092 | &nbsp;&nbsp;$11.99 | &nbsp;&nbsp;$26259229 |
| Class 2<br>| &nbsp;&nbsp;&nbsp;2641074 | &nbsp;&nbsp;$26781686 | &nbsp;&nbsp;$10.14 | &nbsp;&nbsp;$214408 |
| Class 3<br>| &nbsp;&nbsp;&nbsp;2436852 | &nbsp;&nbsp;$21985668 | &nbsp;&nbsp;$9.02 | &nbsp;&nbsp;$14858620 |
| **Acquiring Portfolio** | &nbsp;&nbsp;**Shares<br> Outstanding** | &nbsp;&nbsp;**Net Assets** | &nbsp;&nbsp;**Net Asset<br> Value<br> Per Share** | &nbsp;&nbsp;**Net Unrealized<br> Appreciation<br> (Depreciation)** |
| SA MFS Large Cap Growth Portfolio |  |  |  |  |
| Class 1<br>| &nbsp;&nbsp;24270708 | &nbsp;&nbsp;$368627676 | &nbsp;&nbsp;$15.19 | &nbsp;&nbsp;$129204440 |
| Class 2<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200424 | &nbsp;&nbsp;$3010802 | &nbsp;&nbsp;$15.02 | &nbsp;&nbsp;$2900577 |
| Class 3<br>| &nbsp;&nbsp;14146389 | &nbsp;&nbsp;$208602581 | &nbsp;&nbsp;$14.75 | &nbsp;&nbsp;$39987940 |
| **Post Reorganization** | &nbsp;&nbsp;**Shares<br> Outstanding** | &nbsp;&nbsp;**Net Assets** | &nbsp;&nbsp;**Net Asset<br> Value<br> Per Share** | &nbsp;&nbsp;**Net Unrealized<br> Appreciation<br> (Depreciation)** |
| SA MFS Large Cap Growth Portfolio | SA MFS Large Cap Growth Portfolio | SA MFS Large Cap Growth Portfolio |  |  |
| Class 1<br>| &nbsp;&nbsp;32994612 | &nbsp;&nbsp;$501127768 | &nbsp;&nbsp;$15.19 | &nbsp;&nbsp;$155463669 |
| Class 2<br>| &nbsp;&nbsp;&nbsp;1983240 | &nbsp;&nbsp;$29792488 | &nbsp;&nbsp;$15.02 | &nbsp;&nbsp;$3114985 |
| Class 3<br>| &nbsp;&nbsp;15637354 | &nbsp;&nbsp;$230588249 | &nbsp;&nbsp;$14.75 | &nbsp;&nbsp;$54846560 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SA VCP Dynamic Allocation Portfolio** | **SA VCP Dynamic Allocation Portfolio** | **SA VCP Dynamic Allocation Portfolio** | **SA VCP Dynamic Allocation Portfolio** | **SA VCP Dynamic Allocation Portfolio** |
| **Target Portfolio** | &nbsp;&nbsp;**Shares<br> Outstanding** | &nbsp;&nbsp;**Net Assets** | &nbsp;&nbsp;**Net Asset<br> Value<br> Per Share** | &nbsp;&nbsp;**Net Unrealized<br> Appreciation<br> (Depreciation)** |
| SA BlackRock VCP Global Multi Asset Portfolio | SA BlackRock VCP Global Multi Asset Portfolio | SA BlackRock VCP Global Multi Asset Portfolio |  |  |
| Class 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34373 | &nbsp;&nbsp;$341546 | &nbsp;&nbsp;$9.94 | &nbsp;&nbsp;$(51948) |
| Class 3<br>| &nbsp;&nbsp;&nbsp;60683238 | &nbsp;&nbsp;$602347888 | &nbsp;&nbsp;$9.93 | &nbsp;&nbsp;$102701 |
| SA PIMCO VCP Tactical Balanced Portfolio | SA PIMCO VCP Tactical Balanced Portfolio | SA PIMCO VCP Tactical Balanced Portfolio | SA PIMCO VCP Tactical Balanced Portfolio | SA PIMCO VCP Tactical Balanced Portfolio |
| Class 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10503 | &nbsp;&nbsp;$95685 | &nbsp;&nbsp;$9.11 | &nbsp;&nbsp;$- |
| Class 3<br>| &nbsp;&nbsp;&nbsp;89850487 | &nbsp;&nbsp;$809436080 | &nbsp;&nbsp;$9.01 | &nbsp;&nbsp;$- |
| **Acquiring Portfolio** | &nbsp;&nbsp;**Shares<br> Outstanding** | &nbsp;&nbsp;**Net Assets** | &nbsp;&nbsp;**Net Asset<br> Value<br> Per Share** | &nbsp;&nbsp;**Net Unrealized<br> Appreciation<br> (Depreciation)** |
| SA VCP Dynamic Allocation Portfolio |  |  |  |  |
| Class 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40236 | &nbsp;&nbsp;$468327 | &nbsp;&nbsp;$11.64 | &nbsp;&nbsp;$(59869) |
| Class 3<br>| &nbsp;&nbsp;638617357 | &nbsp;&nbsp;$7435231792 | &nbsp;&nbsp;$11.64 | &nbsp;&nbsp;$191414698 |
| **Post Reorganization** | &nbsp;&nbsp;**Shares<br> Outstanding** | &nbsp;&nbsp;**Net Assets** | &nbsp;&nbsp;**Net Asset<br> Value<br> Per Share** | &nbsp;&nbsp;**Net Unrealized<br> Appreciation<br> (Depreciation)** |
| SA VCP Dynamic Allocation Portfolio | SA VCP Dynamic Allocation Portfolio | SA VCP Dynamic Allocation Portfolio |  |  |
| Class 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77797 | &nbsp;&nbsp;$905558 | &nbsp;&nbsp;$11.64 | &nbsp;&nbsp;$(111817) |
| Class 3<br>| &nbsp;&nbsp;760052900 | &nbsp;&nbsp;$8847015760 | &nbsp;&nbsp;$11.64 | &nbsp;&nbsp;$191517399 |

---

&nbsp;&nbsp;&nbsp;&nbsp;Assuming the Reorganizations had been completed at February 1, 2025 the beginning of the annual reporting period for the acquiring portfolio, the unadited pro forma results operations for the period ended July 31, 2025, are as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Acquiring Portfolio** | &nbsp;&nbsp;**Net<br> Investment<br> Income (loss)** | &nbsp;&nbsp;**Net<br> Realized/unrealized<br> gains (losses)** | &nbsp;&nbsp;**Change in Net<br> Assets Resulting<br> from Operations** |
| SA MFS Large Cap Growth Portfolio<br>| &nbsp;&nbsp;$(399154) | &nbsp;&nbsp;$53824250 | &nbsp;&nbsp;$53425096 |
| SA VCP Dynamic Allocation Portfolio<br>| &nbsp;&nbsp;&nbsp;17718829 | &nbsp;&nbsp;&nbsp;238837127 | &nbsp;&nbsp;&nbsp;256555956 |

---

&nbsp;&nbsp;&nbsp;&nbsp;Because the combined investment portfolios have been managed as a single integrated portfolio since the Reorganizations were completed, it is not practicable to separate the amounts of revenue and earnings of the Target Portfolios that have been included in the Statement of Operations since the Reorganization Dates.

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA AB Growth Portfolio — Class 1** | **SA AB Growth Portfolio — Class 1** | **SA AB Growth Portfolio — Class 1** | **SA AB Growth Portfolio — Class 1** | **SA AB Growth Portfolio — Class 1** | **SA AB Growth Portfolio — Class 1** | **SA AB Growth Portfolio — Class 1** | **SA AB Growth Portfolio — Class 1** | **SA AB Growth Portfolio — Class 1** | **SA AB Growth Portfolio — Class 1** | **SA AB Growth Portfolio — Class 1** | **SA AB Growth Portfolio — Class 1** | **SA AB Growth Portfolio — Class 1** | **SA AB Growth Portfolio — Class 1** | **SA AB Growth Portfolio — Class 1** |
| 01/31/21 | $50.70 | $(0.06) | $15.88 | $15.82 | $— | $(5.58) | $(5.58) | $60.94 | &nbsp;&nbsp;31.55% | $1263528 | 0.64% | 0.64% | (0.10)% | 25% |
| 01/31/22 | 60.94 | (0.14) | &nbsp;&nbsp;12.31 | &nbsp;&nbsp;12.17 | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.77) | (5.77) | 67.34 | 19.15 | 1263728 | 0.62 | 0.62 | (0.20) | 21 |
| 01/31/23 | 67.34 | (0.05) | (11.00) | (11.05) | &nbsp;&nbsp;&nbsp;&nbsp;— | (9.25) | (9.25) | 47.04 | (14.81) | 1006381 | 0.63 | 0.63 | (0.09) | 32 |
| 01/31/24 | 47.04 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;13.63 | &nbsp;&nbsp;13.64 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.99) | (3.99) | 56.69 | 30.18 | 1051608 | 0.63 | 0.63 | 0.01 | 22 |
| 01/31/25 | 56.69 | (0.06) | &nbsp;&nbsp;14.15 | &nbsp;&nbsp;14.09 | &nbsp;&nbsp;&nbsp;&nbsp;— | (6.63) | (6.63) | 64.15 | 25.07 | 1042939 | 0.63 | 0.63 | (0.10) | 26 |
| 07/31/25@ | 64.15 | (0.02) | &nbsp;&nbsp;&nbsp;3.01 | &nbsp;&nbsp;&nbsp;2.99 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 67.14 | &nbsp;&nbsp;4.66 | 1078717 | &nbsp;&nbsp;0.63(3) | &nbsp;&nbsp;0.63(3) | (0.07)(3) | 14 |
| **SA AB Growth Portfolio — Class 2** | **SA AB Growth Portfolio — Class 2** | **SA AB Growth Portfolio — Class 2** | **SA AB Growth Portfolio — Class 2** | **SA AB Growth Portfolio — Class 2** | **SA AB Growth Portfolio — Class 2** | **SA AB Growth Portfolio — Class 2** | **SA AB Growth Portfolio — Class 2** | **SA AB Growth Portfolio — Class 2** | **SA AB Growth Portfolio — Class 2** | **SA AB Growth Portfolio — Class 2** | **SA AB Growth Portfolio — Class 2** | **SA AB Growth Portfolio — Class 2** | **SA AB Growth Portfolio — Class 2** | **SA AB Growth Portfolio — Class 2** |
| 01/31/21 | 50.18 | (0.14) | &nbsp;&nbsp;15.70 | &nbsp;&nbsp;15.56 | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.58) | (5.58) | 60.16 | 31.36 | &nbsp;&nbsp;&nbsp;&nbsp;89625 | 0.79 | 0.79 | (0.25) | 25 |
| 01/31/22 | 60.16 | (0.25) | &nbsp;&nbsp;12.17 | &nbsp;&nbsp;11.92 | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.77) | (5.77) | 66.31 | 18.98 | &nbsp;&nbsp;&nbsp;&nbsp;92511 | 0.77 | 0.77 | (0.35) | 21 |
| 01/31/23 | 66.31 | (0.13) | (10.85) | (10.98) | &nbsp;&nbsp;&nbsp;&nbsp;— | (9.25) | (9.25) | 46.08 | (14.94) | &nbsp;&nbsp;&nbsp;&nbsp;71481 | 0.78 | 0.78 | (0.24) | 32 |
| 01/31/24 | 46.08 | (0.07) | &nbsp;&nbsp;13.33 | &nbsp;&nbsp;13.26 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.99) | (3.99) | 55.35 | 29.98 | &nbsp;&nbsp;&nbsp;&nbsp;80211 | 0.78 | 0.78 | (0.14) | 22 |
| 01/31/25 | 55.35 | (0.15) | &nbsp;&nbsp;13.81 | &nbsp;&nbsp;13.66 | &nbsp;&nbsp;&nbsp;&nbsp;— | (6.63) | (6.63) | 62.38 | 24.90 | &nbsp;&nbsp;&nbsp;&nbsp;84277 | 0.78 | 0.78 | (0.25) | 26 |
| 07/31/25@ | 62.38 | (0.07) | &nbsp;&nbsp;&nbsp;2.93 | &nbsp;&nbsp;&nbsp;2.86 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 65.24 | &nbsp;&nbsp;4.58 | &nbsp;&nbsp;&nbsp;&nbsp;77980 | &nbsp;&nbsp;0.78(3) | &nbsp;&nbsp;0.78(3) | (0.22)(3) | 14 |
| **SA AB Growth Portfolio — Class 3** | **SA AB Growth Portfolio — Class 3** | **SA AB Growth Portfolio — Class 3** | **SA AB Growth Portfolio — Class 3** | **SA AB Growth Portfolio — Class 3** | **SA AB Growth Portfolio — Class 3** | **SA AB Growth Portfolio — Class 3** | **SA AB Growth Portfolio — Class 3** | **SA AB Growth Portfolio — Class 3** | **SA AB Growth Portfolio — Class 3** | **SA AB Growth Portfolio — Class 3** | **SA AB Growth Portfolio — Class 3** | **SA AB Growth Portfolio — Class 3** | **SA AB Growth Portfolio — Class 3** | **SA AB Growth Portfolio — Class 3** |
| 01/31/21 | 49.42 | (0.19) | &nbsp;&nbsp;15.45 | &nbsp;&nbsp;15.26 | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.58) | (5.58) | 59.10 | 31.23 | &nbsp;&nbsp;&nbsp;523827 | 0.89 | 0.89 | (0.35) | 25 |
| 01/31/22 | 59.10 | (0.31) | &nbsp;&nbsp;11.96 | &nbsp;&nbsp;11.65 | &nbsp;&nbsp;&nbsp;&nbsp;— | (5.77) | (5.77) | 64.98 | 18.86 | &nbsp;&nbsp;&nbsp;603138 | 0.87 | 0.87 | (0.46) | 21 |
| 01/31/23 | 64.98 | (0.18) | (10.66) | (10.84) | &nbsp;&nbsp;&nbsp;&nbsp;— | (9.25) | (9.25) | 44.89 | (15.04) | &nbsp;&nbsp;&nbsp;540157 | 0.88 | 0.88 | (0.34) | 32 |
| 01/31/24 | 44.89 | (0.12) | &nbsp;&nbsp;12.97 | &nbsp;&nbsp;12.85 | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.99) | (3.99) | 53.75 | 29.86 | &nbsp;&nbsp;&nbsp;622829 | 0.88 | 0.88 | (0.24) | 22 |
| 01/31/25 | 53.75 | (0.21) | &nbsp;&nbsp;13.40 | &nbsp;&nbsp;13.19 | &nbsp;&nbsp;&nbsp;&nbsp;— | (6.63) | (6.63) | 60.31 | 24.76 | &nbsp;&nbsp;&nbsp;706980 | 0.88 | 0.88 | (0.35) | 26 |
| 07/31/25@ | 60.31 | (0.09) | &nbsp;&nbsp;&nbsp;2.83 | &nbsp;&nbsp;&nbsp;2.74 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 63.05 | &nbsp;&nbsp;4.54 | &nbsp;&nbsp;&nbsp;700979 | &nbsp;&nbsp;0.88(3) | &nbsp;&nbsp;0.88(3) | (0.32)(3) | 14 |
| **SA AB Small & Mid Cap Value Portfolio — Class 1** | **SA AB Small & Mid Cap Value Portfolio — Class 1** | **SA AB Small & Mid Cap Value Portfolio — Class 1** | **SA AB Small & Mid Cap Value Portfolio — Class 1** | **SA AB Small & Mid Cap Value Portfolio — Class 1** | **SA AB Small & Mid Cap Value Portfolio — Class 1** | **SA AB Small & Mid Cap Value Portfolio — Class 1** | **SA AB Small & Mid Cap Value Portfolio — Class 1** | **SA AB Small & Mid Cap Value Portfolio — Class 1** | **SA AB Small & Mid Cap Value Portfolio — Class 1** | **SA AB Small & Mid Cap Value Portfolio — Class 1** | **SA AB Small & Mid Cap Value Portfolio — Class 1** | **SA AB Small & Mid Cap Value Portfolio — Class 1** | **SA AB Small & Mid Cap Value Portfolio — Class 1** | **SA AB Small & Mid Cap Value Portfolio — Class 1** |
| 01/31/21 | 14.10 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;1.38 | &nbsp;&nbsp;&nbsp;1.48 | (0.10) | (0.31) | (0.41) | 15.17 | &nbsp;&nbsp;&nbsp;10.90(4) | &nbsp;&nbsp;&nbsp;125104 | 0.97 | 0.95 | 0.83 | 69 |
| 01/31/22 | 15.17 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;&nbsp;4.25 | &nbsp;&nbsp;&nbsp;4.42 | (0.12) | (0.12) | (0.24) | 19.35 | 29.09 | &nbsp;&nbsp;&nbsp;152224 | 0.96 | 0.91 | 0.90 | 58 |
| 01/31/23 | 19.35 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;&nbsp;(1.24) | &nbsp;&nbsp;&nbsp;(1.10) | (0.20) | (4.48) | (4.68) | 13.57 | (2.60) | &nbsp;&nbsp;&nbsp;126040 | 0.97 | 0.92 | 0.86 | 41 |
| 01/31/24 | 13.57 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;0.19 | (0.12) | (1.13) | (1.25) | 12.51 | &nbsp;&nbsp;3.01 | &nbsp;&nbsp;&nbsp;108028 | 0.97 | 0.92 | 0.75 | 50 |
| 01/31/25 | 12.51 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;2.02 | &nbsp;&nbsp;&nbsp;2.11 | (0.09) | (0.88) | (0.97) | 13.65 | 16.81 | &nbsp;&nbsp;&nbsp;&nbsp;97404 | 0.97 | 0.91 | 0.70 | 56 |
| 07/31/25@ | 13.65 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;&nbsp;(0.66) | &nbsp;&nbsp;&nbsp;(0.60) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.05 | (4.40) | &nbsp;&nbsp;&nbsp;&nbsp;88753 | &nbsp;&nbsp;0.98(3) | &nbsp;&nbsp;0.91(3) | &nbsp;&nbsp;&nbsp;0.92(3) | 44 |
| **SA AB Small & Mid Cap Value Portfolio — Class 2** | **SA AB Small & Mid Cap Value Portfolio — Class 2** | **SA AB Small & Mid Cap Value Portfolio — Class 2** | **SA AB Small & Mid Cap Value Portfolio — Class 2** | **SA AB Small & Mid Cap Value Portfolio — Class 2** | **SA AB Small & Mid Cap Value Portfolio — Class 2** | **SA AB Small & Mid Cap Value Portfolio — Class 2** | **SA AB Small & Mid Cap Value Portfolio — Class 2** | **SA AB Small & Mid Cap Value Portfolio — Class 2** | **SA AB Small & Mid Cap Value Portfolio — Class 2** | **SA AB Small & Mid Cap Value Portfolio — Class 2** | **SA AB Small & Mid Cap Value Portfolio — Class 2** | **SA AB Small & Mid Cap Value Portfolio — Class 2** | **SA AB Small & Mid Cap Value Portfolio — Class 2** | **SA AB Small & Mid Cap Value Portfolio — Class 2** |
| 01/31/21 | 14.09 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;1.37 | &nbsp;&nbsp;&nbsp;1.46 | (0.08) | (0.31) | (0.39) | 15.16 | &nbsp;&nbsp;&nbsp;10.72(4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9921 | 1.12 | 1.10 | 0.71 | 69 |
| 01/31/22 | 15.16 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;&nbsp;4.25 | &nbsp;&nbsp;&nbsp;4.39 | (0.10) | (0.12) | (0.22) | 19.33 | 28.91 | &nbsp;&nbsp;&nbsp;&nbsp;10768 | 1.11 | 1.06 | 0.74 | 58 |
| 01/31/23 | 19.33 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;(1.24) | &nbsp;&nbsp;&nbsp;(1.12) | (0.16) | (4.48) | (4.64) | 13.57 | (2.70) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9265 | 1.12 | 1.07 | 0.71 | 41 |
| 01/31/24 | 13.57 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;0.17 | (0.10) | (1.13) | (1.23) | 12.51 | &nbsp;&nbsp;2.82 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8640 | 1.12 | 1.07 | 0.60 | 50 |
| 01/31/25 | 12.51 | &nbsp;&nbsp;0.07 | &nbsp;&nbsp;&nbsp;2.01 | &nbsp;&nbsp;&nbsp;2.08 | (0.07) | (0.88) | (0.95) | 13.64 | 16.56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8773 | 1.12 | 1.06 | 0.54 | 56 |
| 07/31/25@ | 13.64 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;&nbsp;(0.65) | &nbsp;&nbsp;&nbsp;(0.60) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.04 | (4.40) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7677 | &nbsp;&nbsp;1.13(3) | &nbsp;&nbsp;1.06(3) | &nbsp;&nbsp;&nbsp;0.77(3) | 44 |
| **SA AB Small & Mid Cap Value Portfolio — Class 3** | **SA AB Small & Mid Cap Value Portfolio — Class 3** | **SA AB Small & Mid Cap Value Portfolio — Class 3** | **SA AB Small & Mid Cap Value Portfolio — Class 3** | **SA AB Small & Mid Cap Value Portfolio — Class 3** | **SA AB Small & Mid Cap Value Portfolio — Class 3** | **SA AB Small & Mid Cap Value Portfolio — Class 3** | **SA AB Small & Mid Cap Value Portfolio — Class 3** | **SA AB Small & Mid Cap Value Portfolio — Class 3** | **SA AB Small & Mid Cap Value Portfolio — Class 3** | **SA AB Small & Mid Cap Value Portfolio — Class 3** | **SA AB Small & Mid Cap Value Portfolio — Class 3** | **SA AB Small & Mid Cap Value Portfolio — Class 3** | **SA AB Small & Mid Cap Value Portfolio — Class 3** | **SA AB Small & Mid Cap Value Portfolio — Class 3** |
| 01/31/21 | 13.95 | &nbsp;&nbsp;0.07 | &nbsp;&nbsp;&nbsp;1.36 | &nbsp;&nbsp;&nbsp;1.43 | (0.07) | (0.31) | (0.38) | 15.00 | &nbsp;&nbsp;&nbsp;10.60(4) | &nbsp;&nbsp;&nbsp;415983 | 1.22 | 1.20 | 0.60 | 69 |
| 01/31/22 | 15.00 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;&nbsp;4.21 | &nbsp;&nbsp;&nbsp;4.33 | (0.09) | (0.12) | (0.21) | 19.12 | 28.78 | &nbsp;&nbsp;&nbsp;447232 | 1.21 | 1.16 | 0.64 | 58 |
| 01/31/23 | 19.12 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;(1.23) | &nbsp;&nbsp;&nbsp;(1.13) | (0.15) | (4.48) | (4.63) | 13.36 | (2.85) | &nbsp;&nbsp;&nbsp;407885 | 1.22 | 1.17 | 0.61 | 41 |
| 01/31/24 | 13.36 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;0.15 | (0.08) | (1.13) | (1.21) | 12.30 | &nbsp;&nbsp;2.75 | &nbsp;&nbsp;&nbsp;378460 | 1.22 | 1.17 | 0.50 | 50 |
| 01/31/25 | 12.30 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;&nbsp;1.98 | &nbsp;&nbsp;&nbsp;2.04 | (0.06) | (0.88) | (0.94) | 13.40 | 16.51 | &nbsp;&nbsp;&nbsp;400209 | 1.22 | 1.16 | 0.44 | 56 |
| 07/31/25@ | 13.40 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;&nbsp;(0.64) | &nbsp;&nbsp;&nbsp;(0.60) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 12.80 | (4.48) | &nbsp;&nbsp;&nbsp;380057 | &nbsp;&nbsp;1.23(3) | &nbsp;&nbsp;1.16(3) | &nbsp;&nbsp;&nbsp;0.66(3) | 44 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | Annualized |
| (4) | The Portfolio's performance figure was increased by 0.44% from gains on the disposal of investments due to a trading error. |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA BlackRock Multi-Factor 70/30 Portfolio — Class 1** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 1** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 1** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 1** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 1** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 1** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 1** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 1** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 1** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 1** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 1** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 1** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 1** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 1** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 1** |
| 10/13/20-01/31/21† | $15.00 | $0.06 | $0.90 | $0.96 | $(0.08) | $— | $(0.08) | $15.88 | &nbsp;&nbsp;6.43% | $106 | &nbsp;&nbsp;&nbsp;2.95%(3) | &nbsp;&nbsp;&nbsp;0.26%(3) | &nbsp;&nbsp;&nbsp;1.25%(3) | 13% |
| 01/31/22 | 15.88 | 0.24 | &nbsp;&nbsp;1.10 | &nbsp;&nbsp;1.34 | (0.25) | (0.67) | (0.92) | 16.30 | 8.23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115 | 1.17 | 0.29 | 1.40 | 80 |
| 01/31/23 | 16.30 | 0.29 | (1.50) | (1.21) | (0.27) | (0.15) | (0.42) | 14.67 | (7.28) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193 | 0.84 | 0.30 | 2.06 | 61 |
| 01/31/24 | 14.67 | 0.36 | &nbsp;&nbsp;1.06 | &nbsp;&nbsp;1.42 | (0.32) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.32) | 15.77 | 9.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214 | 0.80 | 0.32 | 2.41 | 64 |
| 01/31/25 | 15.77 | 0.36 | &nbsp;&nbsp;1.90 | &nbsp;&nbsp;2.26 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 18.03 | 14.33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | 0.77 | 0.34 | 2.14 | 53 |
| 07/31/25@ | 18.03 | 0.20 | &nbsp;&nbsp;0.57 | &nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 18.80 | 4.27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190 | &nbsp;&nbsp;0.77(3) | &nbsp;&nbsp;0.35(3) | &nbsp;&nbsp;2.24(3) | 57 |
| **SA BlackRock Multi-Factor 70/30 Portfolio — Class 3** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 3** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 3** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 3** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 3** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 3** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 3** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 3** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 3** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 3** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 3** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 3** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 3** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 3** | **SA BlackRock Multi-Factor 70/30 Portfolio — Class 3** |
| 10/13/20-01/31/21† | 15.00 | 0.04 | &nbsp;&nbsp;0.91 | &nbsp;&nbsp;0.95 | (0.08) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.08) | 15.87 | 6.33 | &nbsp;&nbsp;&nbsp;19715 | &nbsp;&nbsp;3.37(3) | &nbsp;&nbsp;0.55(3) | &nbsp;&nbsp;0.94(3) | 13 |
| 01/31/22 | 15.87 | 0.19 | &nbsp;&nbsp;1.11 | &nbsp;&nbsp;1.30 | (0.22) | (0.67) | (0.89) | 16.28 | 7.98 | &nbsp;&nbsp;&nbsp;60389 | 1.36 | 0.54 | 1.17 | 80 |
| 01/31/23 | 16.28 | 0.27 | (1.52) | (1.25) | (0.24) | (0.15) | (0.39) | 14.64 | (7.52) | &nbsp;&nbsp;&nbsp;83072 | 1.09 | 0.55 | 1.85 | 61 |
| 01/31/24 | 14.64 | 0.30 | &nbsp;&nbsp;1.09 | &nbsp;&nbsp;1.39 | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | 15.74 | 9.55 | &nbsp;&nbsp;&nbsp;96924 | 1.05 | 0.57 | 2.00 | 64 |
| 01/31/25 | 15.74 | 0.32 | &nbsp;&nbsp;1.88 | &nbsp;&nbsp;2.20 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 17.94 | 13.98 | 108780 | 1.02 | 0.59 | 1.89 | 53 |
| 07/31/25@ | 17.94 | 0.18 | &nbsp;&nbsp;0.57 | &nbsp;&nbsp;0.75 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 18.69 | 4.18 | 115068 | &nbsp;&nbsp;1.02(3) | &nbsp;&nbsp;0.60(3) | &nbsp;&nbsp;2.00(3) | 57 |

---

---

| | |
|:---|:---|
| † | Commencement of operations. |
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | Annualized |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA Emerging Markets Equity Index Portfolio — Class 1** | **SA Emerging Markets Equity Index Portfolio — Class 1** | **SA Emerging Markets Equity Index Portfolio — Class 1** | **SA Emerging Markets Equity Index Portfolio — Class 1** | **SA Emerging Markets Equity Index Portfolio — Class 1** | **SA Emerging Markets Equity Index Portfolio — Class 1** | **SA Emerging Markets Equity Index Portfolio — Class 1** | **SA Emerging Markets Equity Index Portfolio — Class 1** | **SA Emerging Markets Equity Index Portfolio — Class 1** | **SA Emerging Markets Equity Index Portfolio — Class 1** | **SA Emerging Markets Equity Index Portfolio — Class 1** | **SA Emerging Markets Equity Index Portfolio — Class 1** | **SA Emerging Markets Equity Index Portfolio — Class 1** | **SA Emerging Markets Equity Index Portfolio — Class 1** | **SA Emerging Markets Equity Index Portfolio — Class 1** |
| 01/31/21 | $14.25 | $0.20 | $3.74 | $3.94 | $(0.33) | $— | $(0.33) | $17.86 | &nbsp;&nbsp;27.92% | $116309 | 0.68% | 0.58% | 1.35% | 22% |
| 01/31/22 | 17.86 | 0.27 | (1.45) | (1.18) | (0.17) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.17) | 16.51 | (6.63) | &nbsp;&nbsp;&nbsp;&nbsp;96121 | 0.68 | 0.58 | 1.51 | 6 |
| 01/31/23 | 16.51 | 0.32 | (2.49) | (2.17) | (0.26) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.26) | 14.08 | (12.91) | &nbsp;&nbsp;&nbsp;&nbsp;80212 | 0.85 | 0.58 | 2.28 | 5 |
| 01/31/24 | 14.08 | 0.28 | (0.97) | (0.69) | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.35) | 13.04 | (4.86) | &nbsp;&nbsp;&nbsp;&nbsp;68169 | 0.83 | 0.58 | 2.10 | 4 |
| 01/31/25 | 13.04 | 0.30 | &nbsp;&nbsp;1.47 | &nbsp;&nbsp;1.77 | (0.31) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.31) | 14.50 | 13.46 | &nbsp;&nbsp;&nbsp;&nbsp;71192 | 0.83 | 0.58 | 2.05 | 11 |
| 07/31/25@ | 14.50 | 0.20 | &nbsp;&nbsp;2.03 | &nbsp;&nbsp;2.23 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 16.73 | 15.38 | &nbsp;&nbsp;&nbsp;&nbsp;82304 | &nbsp;&nbsp;0.97(3) | &nbsp;&nbsp;0.58(3) | &nbsp;&nbsp;2.67(3) | 12 |
| **SA Emerging Markets Equity Index Portfolio — Class 3** | **SA Emerging Markets Equity Index Portfolio — Class 3** | **SA Emerging Markets Equity Index Portfolio — Class 3** | **SA Emerging Markets Equity Index Portfolio — Class 3** | **SA Emerging Markets Equity Index Portfolio — Class 3** | **SA Emerging Markets Equity Index Portfolio — Class 3** | **SA Emerging Markets Equity Index Portfolio — Class 3** | **SA Emerging Markets Equity Index Portfolio — Class 3** | **SA Emerging Markets Equity Index Portfolio — Class 3** | **SA Emerging Markets Equity Index Portfolio — Class 3** | **SA Emerging Markets Equity Index Portfolio — Class 3** | **SA Emerging Markets Equity Index Portfolio — Class 3** | **SA Emerging Markets Equity Index Portfolio — Class 3** | **SA Emerging Markets Equity Index Portfolio — Class 3** | **SA Emerging Markets Equity Index Portfolio — Class 3** |
| 01/31/21 | 14.21 | 0.15 | &nbsp;&nbsp;3.73 | &nbsp;&nbsp;3.88 | (0.31) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.31) | 17.78 | 27.61 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8255 | 0.92 | 0.83 | 1.06 | 22 |
| 01/31/22 | 17.78 | 0.22 | (1.43) | (1.21) | (0.16) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.16) | 16.41 | (6.85) | &nbsp;&nbsp;&nbsp;&nbsp;13994 | 0.95 | 0.83 | 1.31 | 6 |
| 01/31/23 | 16.41 | 0.27 | (2.47) | (2.20) | (0.23) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.23) | 13.98 | (13.15) | &nbsp;&nbsp;&nbsp;&nbsp;17124 | 1.11 | 0.83 | 2.01 | 5 |
| 01/31/24 | 13.98 | 0.24 | (0.96) | (0.72) | (0.32) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.32) | 12.94 | (5.10) | &nbsp;&nbsp;&nbsp;&nbsp;17699 | 1.08 | 0.83 | 1.83 | 4 |
| 01/31/25 | 12.94 | 0.26 | &nbsp;&nbsp;1.46 | &nbsp;&nbsp;1.72 | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | 14.38 | 13.16 | &nbsp;&nbsp;&nbsp;&nbsp;20790 | 1.08 | 0.83 | 1.79 | 11 |
| 07/31/25@ | 14.38 | 0.18 | &nbsp;&nbsp;2.01 | &nbsp;&nbsp;2.19 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 16.57 | 15.23 | &nbsp;&nbsp;&nbsp;&nbsp;21377 | &nbsp;&nbsp;1.21(3) | &nbsp;&nbsp;0.83(3) | &nbsp;&nbsp;2.38(3) | 12 |
| **SA Federated Hermes Corporate Bond Portfolio — Class 1** | **SA Federated Hermes Corporate Bond Portfolio — Class 1** | **SA Federated Hermes Corporate Bond Portfolio — Class 1** | **SA Federated Hermes Corporate Bond Portfolio — Class 1** | **SA Federated Hermes Corporate Bond Portfolio — Class 1** | **SA Federated Hermes Corporate Bond Portfolio — Class 1** | **SA Federated Hermes Corporate Bond Portfolio — Class 1** | **SA Federated Hermes Corporate Bond Portfolio — Class 1** | **SA Federated Hermes Corporate Bond Portfolio — Class 1** | **SA Federated Hermes Corporate Bond Portfolio — Class 1** | **SA Federated Hermes Corporate Bond Portfolio — Class 1** | **SA Federated Hermes Corporate Bond Portfolio — Class 1** | **SA Federated Hermes Corporate Bond Portfolio — Class 1** | **SA Federated Hermes Corporate Bond Portfolio — Class 1** | **SA Federated Hermes Corporate Bond Portfolio — Class 1** |
| 01/31/21 | 13.79 | 0.50 | &nbsp;&nbsp;0.36 | &nbsp;&nbsp;0.86 | (0.57) | (0.20) | (0.77) | 13.88 | &nbsp;&nbsp;6.28 | &nbsp;&nbsp;&nbsp;483921 | 0.55 | 0.55 | 3.63 | 22 |
| 01/31/22 | 13.88 | 0.46 | (0.69) | (0.23) | (0.43) | (0.04) | (0.47) | 13.18 | (1.73) | &nbsp;&nbsp;&nbsp;500170 | 0.54 | 0.54 | 3.31 | 14 |
| 01/31/23 | 13.18 | 0.43 | (1.54) | (1.11) | (0.47) | (0.04) | (0.51) | 11.56 | (8.11) | &nbsp;&nbsp;&nbsp;416041 | 0.55 | 0.55 | 3.57 | 34 |
| 01/31/24 | 11.56 | 0.42 | &nbsp;&nbsp;0.02 | &nbsp;&nbsp;0.44 | (0.42) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.42) | 11.58 | &nbsp;&nbsp;4.04 | &nbsp;&nbsp;&nbsp;399903 | 0.55 | 0.55 | 3.70 | 5 |
| 01/31/25 | 11.58 | 0.43 | (0.09) | &nbsp;&nbsp;0.34 | (0.40) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.40) | 11.52 | &nbsp;&nbsp;2.89 | &nbsp;&nbsp;&nbsp;420488 | 0.55 | 0.55 | 3.72 | 10 |
| 07/31/25@ | 11.52 | 0.23 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;0.39 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.91 | &nbsp;&nbsp;3.39 | &nbsp;&nbsp;&nbsp;444407 | &nbsp;&nbsp;0.55(3) | &nbsp;&nbsp;0.55(3) | &nbsp;&nbsp;3.91(3) | 11 |
| **SA Federated Hermes Corporate Bond Portfolio — Class 2** | **SA Federated Hermes Corporate Bond Portfolio — Class 2** | **SA Federated Hermes Corporate Bond Portfolio — Class 2** | **SA Federated Hermes Corporate Bond Portfolio — Class 2** | **SA Federated Hermes Corporate Bond Portfolio — Class 2** | **SA Federated Hermes Corporate Bond Portfolio — Class 2** | **SA Federated Hermes Corporate Bond Portfolio — Class 2** | **SA Federated Hermes Corporate Bond Portfolio — Class 2** | **SA Federated Hermes Corporate Bond Portfolio — Class 2** | **SA Federated Hermes Corporate Bond Portfolio — Class 2** | **SA Federated Hermes Corporate Bond Portfolio — Class 2** | **SA Federated Hermes Corporate Bond Portfolio — Class 2** | **SA Federated Hermes Corporate Bond Portfolio — Class 2** | **SA Federated Hermes Corporate Bond Portfolio — Class 2** | **SA Federated Hermes Corporate Bond Portfolio — Class 2** |
| 01/31/21 | 13.78 | 0.48 | &nbsp;&nbsp;0.37 | &nbsp;&nbsp;0.85 | (0.55) | (0.20) | (0.75) | 13.88 | &nbsp;&nbsp;6.19 | &nbsp;&nbsp;&nbsp;&nbsp;16967 | 0.70 | 0.70 | 3.49 | 22 |
| 01/31/22 | 13.88 | 0.44 | (0.69) | (0.25) | (0.41) | (0.04) | (0.45) | 13.18 | (1.89) | &nbsp;&nbsp;&nbsp;&nbsp;14538 | 0.69 | 0.69 | 3.17 | 14 |
| 01/31/23 | 13.18 | 0.41 | (1.53) | (1.12) | (0.45) | (0.04) | (0.49) | 11.57 | (8.23) | &nbsp;&nbsp;&nbsp;&nbsp;11344 | 0.70 | 0.70 | 3.42 | 34 |
| 01/31/24 | 11.57 | 0.40 | &nbsp;&nbsp;0.02 | &nbsp;&nbsp;0.42 | (0.40) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.40) | 11.59 | &nbsp;&nbsp;3.84 | &nbsp;&nbsp;&nbsp;&nbsp;10378 | 0.70 | 0.70 | 3.56 | 5 |
| 01/31/25 | 11.59 | 0.42 | (0.10) | &nbsp;&nbsp;0.32 | (0.38) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.38) | 11.53 | &nbsp;&nbsp;2.72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9767 | 0.70 | 0.70 | 3.57 | 10 |
| 07/31/25@ | 11.53 | 0.22 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;0.38 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.91 | &nbsp;&nbsp;3.30 | &nbsp;&nbsp;&nbsp;&nbsp;10262 | &nbsp;&nbsp;0.70(3) | &nbsp;&nbsp;0.70(3) | &nbsp;&nbsp;3.76(3) | 11 |
| **SA Federated Hermes Corporate Bond Portfolio — Class 3** | **SA Federated Hermes Corporate Bond Portfolio — Class 3** | **SA Federated Hermes Corporate Bond Portfolio — Class 3** | **SA Federated Hermes Corporate Bond Portfolio — Class 3** | **SA Federated Hermes Corporate Bond Portfolio — Class 3** | **SA Federated Hermes Corporate Bond Portfolio — Class 3** | **SA Federated Hermes Corporate Bond Portfolio — Class 3** | **SA Federated Hermes Corporate Bond Portfolio — Class 3** | **SA Federated Hermes Corporate Bond Portfolio — Class 3** | **SA Federated Hermes Corporate Bond Portfolio — Class 3** | **SA Federated Hermes Corporate Bond Portfolio — Class 3** | **SA Federated Hermes Corporate Bond Portfolio — Class 3** | **SA Federated Hermes Corporate Bond Portfolio — Class 3** | **SA Federated Hermes Corporate Bond Portfolio — Class 3** | **SA Federated Hermes Corporate Bond Portfolio — Class 3** |
| 01/31/21 | 13.69 | 0.46 | &nbsp;&nbsp;0.37 | &nbsp;&nbsp;0.83 | (0.54) | (0.20) | (0.74) | 13.78 | &nbsp;&nbsp;6.08 | &nbsp;&nbsp;&nbsp;933036 | 0.80 | 0.80 | 3.38 | 22 |
| 01/31/22 | 13.78 | 0.41 | (0.68) | (0.27) | (0.40) | (0.04) | (0.44) | 13.07 | (2.01) | 1058966 | 0.79 | 0.79 | 3.06 | 14 |
| 01/31/23 | 13.07 | 0.39 | (1.52) | (1.13) | (0.44) | (0.04) | (0.48) | 11.46 | (8.38) | &nbsp;&nbsp;&nbsp;908233 | 0.80 | 0.80 | 3.31 | 34 |
| 01/31/24 | 11.46 | 0.39 | &nbsp;&nbsp;0.02 | &nbsp;&nbsp;0.41 | (0.39) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.39) | 11.48 | &nbsp;&nbsp;3.80 | &nbsp;&nbsp;&nbsp;973952 | 0.80 | 0.80 | 3.45 | 5 |
| 01/31/25 | 11.48 | 0.40 | (0.10) | &nbsp;&nbsp;0.30 | (0.37) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.37) | 11.41 | &nbsp;&nbsp;2.60 | 1060656 | 0.80 | 0.80 | 3.47 | 10 |
| 07/31/25@ | 11.41 | 0.21 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;0.37 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.78 | &nbsp;&nbsp;3.24 | 1077935 | &nbsp;&nbsp;0.80(3) | &nbsp;&nbsp;0.80(3) | &nbsp;&nbsp;3.65(3) | 11 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | Annualized |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA Fidelity Institutional AM® Global Equities Portfolio — Class 1(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 1(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 1(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 1(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 1(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 1(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 1(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 1(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 1(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 1(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 1(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 1(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 1(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 1(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 1(3)** |
| 01/31/21 | $18.52 | $0.35 | $1.60 | $1.95 | $(0.27) | $(0.50) | $(0.77) | $19.70 | 10.85% | $332093 | 0.79% | 0.79% | &nbsp;&nbsp;2.00% | &nbsp;&nbsp;74% |
| 01/31/22 | 19.70 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;3.41 | &nbsp;&nbsp;3.68 | (0.39) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.39) | 22.99 | 18.63 | 321424 | 0.80 | 0.80 | 1.17 | 49 |
| 01/31/23 | 22.99 | &nbsp;&nbsp;0.30 | (2.10) | (1.80) | (0.37) | (3.62) | (3.99) | 17.20 | (5.92) | 258370 | 0.82 | 0.82 | 1.53 | 32 |
| 01/31/24 | 17.20 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;2.81 | &nbsp;&nbsp;3.00 | (0.28) | (0.62) | (0.90) | 19.30 | 18.05 | 259066 | 0.83 | 0.83 | 1.04 | 54 |
| 01/31/25 | 19.30 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;4.11 | &nbsp;&nbsp;4.30 | (0.29) | (1.56) | (1.85) | 21.75 | 22.25 | 251440 | 0.83 | 0.83 | 0.90 | 66 |
| 07/31/25@ | 21.75 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;1.77 | &nbsp;&nbsp;1.91 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 23.66 | 8.78 | 275492 | &nbsp;&nbsp;0.82(4) | &nbsp;&nbsp;0.82(4) | &nbsp;&nbsp;&nbsp;1.32(4) | 84 |
| **SA Fidelity Institutional AM® Global Equities Portfolio — Class 2(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 2(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 2(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 2(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 2(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 2(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 2(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 2(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 2(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 2(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 2(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 2(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 2(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 2(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 2(3)** |
| 01/31/21 | 18.48 | &nbsp;&nbsp;0.33 | &nbsp;&nbsp;1.59 | &nbsp;&nbsp;1.92 | (0.24) | (0.50) | (0.74) | 19.66 | 10.68 | &nbsp;&nbsp;&nbsp;&nbsp;3134 | 0.94 | 0.94 | 1.85 | 74 |
| 01/31/22 | 19.66 | &nbsp;&nbsp;0.23 | &nbsp;&nbsp;3.40 | &nbsp;&nbsp;3.63 | (0.36) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.36) | 22.93 | 18.41 | &nbsp;&nbsp;&nbsp;&nbsp;3182 | 0.95 | 0.95 | 1.02 | 49 |
| 01/31/23 | 22.93 | &nbsp;&nbsp;0.27 | (2.09) | (1.82) | (0.33) | (3.62) | (3.95) | 17.16 | (6.06) | &nbsp;&nbsp;&nbsp;&nbsp;2596 | 0.97 | 0.97 | 1.38 | 32 |
| 01/31/24 | 17.16 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;2.81 | &nbsp;&nbsp;2.97 | (0.25) | (0.62) | (0.87) | 19.26 | 17.90 | &nbsp;&nbsp;&nbsp;&nbsp;2589 | 0.98 | 0.98 | 0.89 | 54 |
| 01/31/25 | 19.26 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;4.09 | &nbsp;&nbsp;4.25 | (0.26) | (1.56) | (1.82) | 21.69 | 22.02 | &nbsp;&nbsp;&nbsp;&nbsp;2803 | 0.98 | 0.98 | 0.73 | 66 |
| 07/31/25@ | 21.69 | &nbsp;&nbsp;0.13 | &nbsp;&nbsp;1.76 | &nbsp;&nbsp;1.89 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 23.58 | 8.71 | &nbsp;&nbsp;&nbsp;&nbsp;2808 | &nbsp;&nbsp;0.97(4) | &nbsp;&nbsp;0.97(4) | &nbsp;&nbsp;&nbsp;1.18(4) | 84 |
| **SA Fidelity Institutional AM® Global Equities Portfolio — Class 3(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 3(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 3(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 3(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 3(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 3(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 3(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 3(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 3(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 3(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 3(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 3(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 3(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 3(3)** | **SA Fidelity Institutional AM® Global Equities Portfolio — Class 3(3)** |
| 01/31/21 | 18.35 | &nbsp;&nbsp;0.30 | &nbsp;&nbsp;1.58 | &nbsp;&nbsp;1.88 | (0.23) | (0.50) | (0.73) | 19.50 | 10.53 | &nbsp;&nbsp;&nbsp;40619 | 1.04 | 1.04 | 1.73 | 74 |
| 01/31/22 | 19.50 | &nbsp;&nbsp;0.20 | &nbsp;&nbsp;3.38 | &nbsp;&nbsp;3.58 | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.35) | 22.73 | 18.32 | &nbsp;&nbsp;&nbsp;52707 | 1.05 | 1.05 | 0.90 | 49 |
| 01/31/23 | 22.73 | &nbsp;&nbsp;0.24 | (2.07) | (1.83) | (0.32) | (3.62) | (3.94) | 16.96 | (6.19) | &nbsp;&nbsp;&nbsp;48427 | 1.07 | 1.07 | 1.26 | 32 |
| 01/31/24 | 16.96 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;2.78 | &nbsp;&nbsp;2.92 | (0.23) | (0.62) | (0.85) | 19.03 | 17.84 | &nbsp;&nbsp;&nbsp;53419 | 1.08 | 1.08 | 0.78 | 54 |
| 01/31/25 | 19.03 | &nbsp;&nbsp;0.13 | &nbsp;&nbsp;4.04 | &nbsp;&nbsp;4.17 | (0.24) | (1.56) | (1.80) | 21.40 | 21.89 | &nbsp;&nbsp;&nbsp;59625 | 1.08 | 1.08 | 0.63 | 66 |
| 07/31/25@ | 21.40 | &nbsp;&nbsp;0.11 | &nbsp;&nbsp;1.75 | &nbsp;&nbsp;1.86 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 23.26 | 8.69 | &nbsp;&nbsp;&nbsp;61241 | &nbsp;&nbsp;1.07(4) | &nbsp;&nbsp;1.07(4) | &nbsp;&nbsp;&nbsp;1.07(4) | 84 |
| **SA Fidelity Institutional AM® International Growth Portfolio — Class 1** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 1** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 1** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 1** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 1** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 1** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 1** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 1** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 1** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 1** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 1** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 1** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 1** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 1** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 1** |
| 01/31/21 | 16.67 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;3.55 | &nbsp;&nbsp;3.61 | (0.06) | (0.57) | (0.63) | 19.65 | 21.78 | 346993 | 0.86 | 0.88 | 0.34 | 156 |
| 01/31/22 | 19.65 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;0.36 | &nbsp;&nbsp;0.37 | (0.01) | (1.53) | (1.54) | 18.48 | 0.89 | 320077 | 0.87 | 0.87 | 0.04 | 146 |
| 01/31/23 | 18.48 | &nbsp;&nbsp;0.05 | (2.08) | (2.03) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.60) | (1.60) | 14.85 | (9.58) | 247531 | 0.87 | 0.87 | 0.30 | 93 |
| 01/31/24 | 14.85 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;2.47 | &nbsp;&nbsp;2.52 | (0.05) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.05) | 17.32 | 17.04 | 237825 | 0.87 | 0.87 | 0.32 | 75 |
| 01/31/25 | 17.32 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;2.02 | &nbsp;&nbsp;2.07 | (0.06) | (0.25) | (0.31) | 19.08 | 11.96 | 216229 | &nbsp;&nbsp;0.89(5) | &nbsp;&nbsp;0.89(5) | 0.29 | 83 |
| 07/31/25@ | 19.08 | &nbsp;&nbsp;0.11 | &nbsp;&nbsp;2.11 | &nbsp;&nbsp;2.22 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 21.30 | 11.64 | 245656 | &nbsp;&nbsp;0.90(4) | &nbsp;&nbsp;0.89(4) | &nbsp;&nbsp;&nbsp;1.13(4) | 64 |
| **SA Fidelity Institutional AM® International Growth Portfolio — Class 3** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 3** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 3** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 3** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 3** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 3** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 3** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 3** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 3** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 3** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 3** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 3** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 3** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 3** | **SA Fidelity Institutional AM® International Growth Portfolio — Class 3** |
| 01/31/21 | 16.67 | &nbsp;&nbsp;0.00 | &nbsp;&nbsp;3.55 | &nbsp;&nbsp;3.55 | (0.03) | (0.57) | (0.60) | 19.62 | 21.44 | &nbsp;&nbsp;&nbsp;&nbsp;3959 | 1.10 | 1.13 | 0.00 | 156 |
| 01/31/22 | 19.62 | (0.06) | &nbsp;&nbsp;0.38 | &nbsp;&nbsp;0.32 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.53) | (1.53) | 18.41 | 0.66 | &nbsp;&nbsp;&nbsp;10010 | 1.12 | 1.12 | (0.30) | 146 |
| 01/31/23 | 18.41 | &nbsp;&nbsp;0.01 | (2.07) | (2.06) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.60) | (1.60) | 14.75 | (9.79) | &nbsp;&nbsp;&nbsp;11836 | 1.12 | 1.12 | 0.02 | 93 |
| 01/31/24 | 14.75 | &nbsp;&nbsp;0.00 | &nbsp;&nbsp;2.46 | &nbsp;&nbsp;2.46 | (0.03) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.03) | 17.18 | 16.68 | &nbsp;&nbsp;&nbsp;15820 | 1.12 | 1.12 | 0.02 | 75 |
| 01/31/25 | 17.18 | &nbsp;&nbsp;0.00 | &nbsp;&nbsp;2.01 | &nbsp;&nbsp;2.01 | (0.02) | (0.25) | (0.27) | 18.92 | 11.71 | &nbsp;&nbsp;&nbsp;17839 | &nbsp;&nbsp;1.14(5) | &nbsp;&nbsp;1.14(5) | 0.00 | 83 |
| 07/31/25@ | 18.92 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;2.09 | &nbsp;&nbsp;2.17 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 21.09 | 11.47 | &nbsp;&nbsp;&nbsp;19181 | &nbsp;&nbsp;1.15(4) | &nbsp;&nbsp;1.14(4) | &nbsp;&nbsp;&nbsp;0.85(4) | 64 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | Prior to July 28, 2025, the Portfolio was known as SA JPMorgan Global Equities Portfolio. |
| (4) | Annualized |
| (5) | Includes interest expense of 0.01% relating to derivative or other investment activity. |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA Fidelity Institutional AM® Real Estate Portfolio — Class 1** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 1** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 1** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 1** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 1** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 1** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 1** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 1** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 1** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 1** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 1** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 1** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 1** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 1** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 1** |
| 01/31/21 | $14.14 | $0.22 | $(0.74) | $(0.52) | $(0.25) | $(0.57) | $(0.82) | $12.80 | (3.60)% | $101995 | 0.82% | 0.82% | 1.78% | 46% |
| 01/31/22 | 12.80 | 0.15 | &nbsp;&nbsp;3.60 | &nbsp;&nbsp;3.75 | (0.23) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.23) | 16.32 | 29.24 | 119157 | 0.82 | 0.82 | 0.93 | 28 |
| 01/31/23 | 16.32 | 0.26 | (2.40) | (2.14) | (0.14) | (1.18) | (1.32) | 12.86 | (11.91) | 123498 | 0.83 | 0.83 | 1.92 | 45 |
| 01/31/24 | 12.86 | 0.29 | (0.60) | (0.31) | (0.27) | (0.69) | (0.96) | 11.59 | (1.42) | 113301 | 0.84 | 0.84 | 2.42 | 38 |
| 01/31/25 | 11.59 | 0.26 | &nbsp;&nbsp;1.39 | &nbsp;&nbsp;1.65 | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | 12.95 | 14.19 | 112978 | 0.83 | 0.83 | 2.11 | 39 |
| 07/31/25@ | 12.95 | 0.19 | (0.64) | (0.45) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 12.50 | (3.47) | 111165 | &nbsp;&nbsp;0.85(3) | &nbsp;&nbsp;0.85(3) | &nbsp;&nbsp;3.05(3) | 20 |
| **SA Fidelity Institutional AM® Real Estate Portfolio — Class 2** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 2** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 2** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 2** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 2** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 2** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 2** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 2** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 2** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 2** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 2** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 2** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 2** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 2** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 2** |
| 01/31/21 | 14.10 | 0.20 | (0.73) | (0.53) | (0.23) | (0.57) | (0.80) | 12.77 | (3.70) | &nbsp;&nbsp;&nbsp;&nbsp;4061 | 0.97 | 0.97 | 1.60 | 46 |
| 01/31/22 | 12.77 | 0.13 | &nbsp;&nbsp;3.59 | &nbsp;&nbsp;3.72 | (0.21) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.21) | 16.28 | 29.07 | &nbsp;&nbsp;&nbsp;&nbsp;4283 | 0.97 | 0.97 | 0.80 | 28 |
| 01/31/23 | 16.28 | 0.24 | (2.40) | (2.16) | (0.11) | (1.18) | (1.29) | 12.83 | (12.07) | &nbsp;&nbsp;&nbsp;&nbsp;3391 | 0.98 | 0.98 | 1.68 | 45 |
| 01/31/24 | 12.83 | 0.27 | (0.60) | (0.33) | (0.25) | (0.69) | (0.94) | 11.56 | (1.63) | &nbsp;&nbsp;&nbsp;&nbsp;2933 | 0.99 | 0.99 | 2.28 | 38 |
| 01/31/25 | 11.56 | 0.25 | &nbsp;&nbsp;1.38 | &nbsp;&nbsp;1.63 | (0.27) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.27) | 12.92 | 14.06 | &nbsp;&nbsp;&nbsp;&nbsp;2785 | 0.97 | 0.97 | 2.01 | 39 |
| 07/31/25@ | 12.92 | 0.18 | (0.64) | (0.46) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 12.46 | (3.56) | &nbsp;&nbsp;&nbsp;&nbsp;2576 | &nbsp;&nbsp;1.00(3) | &nbsp;&nbsp;1.00(3) | &nbsp;&nbsp;2.88(3) | 20 |
| **SA Fidelity Institutional AM® Real Estate Portfolio — Class 3** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 3** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 3** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 3** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 3** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 3** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 3** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 3** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 3** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 3** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 3** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 3** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 3** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 3** | **SA Fidelity Institutional AM® Real Estate Portfolio — Class 3** |
| 01/31/21 | 14.00 | 0.18 | (0.73) | (0.55) | (0.22) | (0.57) | (0.79) | 12.66 | (3.89) | 173750 | 1.07 | 1.07 | 1.49 | 46 |
| 01/31/22 | 12.66 | 0.11 | &nbsp;&nbsp;3.57 | &nbsp;&nbsp;3.68 | (0.20) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.20) | 16.14 | 28.99 | 178847 | 1.07 | 1.07 | 0.72 | 28 |
| 01/31/23 | 16.14 | 0.22 | (2.37) | (2.15) | (0.10) | (1.18) | (1.28) | 12.71 | (12.16) | 162316 | 1.08 | 1.08 | 1.59 | 45 |
| 01/31/24 | 12.71 | 0.26 | (0.60) | (0.34) | (0.24) | (0.69) | (0.93) | 11.44 | (1.74) | 141344 | 1.09 | 1.09 | 2.18 | 38 |
| 01/31/25 | 11.44 | 0.22 | &nbsp;&nbsp;1.39 | &nbsp;&nbsp;1.61 | (0.26) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.26) | 12.79 | 14.00 | 140684 | 1.08 | 1.08 | 1.81 | 39 |
| 07/31/25@ | 12.79 | 0.17 | (0.63) | (0.46) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 12.33 | (3.60) | 132837 | &nbsp;&nbsp;1.10(3) | &nbsp;&nbsp;1.10(3) | &nbsp;&nbsp;2.76(3) | 20 |
| **SA Fixed Income Index Portfolio — Class 1** | **SA Fixed Income Index Portfolio — Class 1** | **SA Fixed Income Index Portfolio — Class 1** | **SA Fixed Income Index Portfolio — Class 1** | **SA Fixed Income Index Portfolio — Class 1** | **SA Fixed Income Index Portfolio — Class 1** | **SA Fixed Income Index Portfolio — Class 1** | **SA Fixed Income Index Portfolio — Class 1** | **SA Fixed Income Index Portfolio — Class 1** | **SA Fixed Income Index Portfolio — Class 1** | **SA Fixed Income Index Portfolio — Class 1** | **SA Fixed Income Index Portfolio — Class 1** | **SA Fixed Income Index Portfolio — Class 1** | **SA Fixed Income Index Portfolio — Class 1** | **SA Fixed Income Index Portfolio — Class 1** |
| 01/31/21 | 10.99 | 0.24 | &nbsp;&nbsp;0.33 | &nbsp;&nbsp;0.57 | (0.24) | (0.04) | (0.28) | 11.28 | &nbsp;&nbsp;5.18 | 518860 | 0.36 | 0.34 | 2.06 | 22 |
| 01/31/22 | 11.28 | 0.21 | (0.56) | (0.35) | (0.23) | (0.13) | (0.36) | 10.57 | (3.13) | 481451 | 0.35 | 0.34 | 1.88 | 16 |
| 01/31/23 | 10.57 | 0.22 | (1.08) | (0.86) | (0.19) | (0.03) | (0.22) | &nbsp;&nbsp;&nbsp;9.49 | (7.99) | 461756 | 0.36 | 0.34 | 2.30 | 19 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;9.49 | 0.27 | (0.06) | &nbsp;&nbsp;0.21 | (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.22) | &nbsp;&nbsp;&nbsp;9.48 | &nbsp;&nbsp;2.35 | 452506 | 0.36 | 0.34 | 2.84 | 12 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;9.48 | 0.30 | (0.13) | &nbsp;&nbsp;0.17 | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | &nbsp;&nbsp;&nbsp;9.37 | &nbsp;&nbsp;1.74 | 444588 | 0.36 | 0.34 | 3.14 | 13 |
| 07/31/25@ | &nbsp;&nbsp;&nbsp;9.37 | 0.17 | &nbsp;&nbsp;0.11 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;9.65 | &nbsp;&nbsp;2.99 | 459018 | &nbsp;&nbsp;0.40(3) | &nbsp;&nbsp;0.34(3) | &nbsp;&nbsp;3.57(3) | 66 |
| **SA Fixed Income Index Portfolio — Class 3** | **SA Fixed Income Index Portfolio — Class 3** | **SA Fixed Income Index Portfolio — Class 3** | **SA Fixed Income Index Portfolio — Class 3** | **SA Fixed Income Index Portfolio — Class 3** | **SA Fixed Income Index Portfolio — Class 3** | **SA Fixed Income Index Portfolio — Class 3** | **SA Fixed Income Index Portfolio — Class 3** | **SA Fixed Income Index Portfolio — Class 3** | **SA Fixed Income Index Portfolio — Class 3** | **SA Fixed Income Index Portfolio — Class 3** | **SA Fixed Income Index Portfolio — Class 3** | **SA Fixed Income Index Portfolio — Class 3** | **SA Fixed Income Index Portfolio — Class 3** | **SA Fixed Income Index Portfolio — Class 3** |
| 01/31/21 | 10.96 | 0.20 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;0.54 | (0.23) | (0.04) | (0.27) | 11.23 | &nbsp;&nbsp;4.93 | &nbsp;&nbsp;&nbsp;63869 | 0.60 | 0.59 | 1.79 | 22 |
| 01/31/22 | 11.23 | 0.18 | (0.55) | (0.37) | (0.22) | (0.13) | (0.35) | 10.51 | (3.38) | &nbsp;&nbsp;&nbsp;79032 | 0.60 | 0.59 | 1.63 | 16 |
| 01/31/23 | 10.51 | 0.20 | (1.07) | (0.87) | (0.17) | (0.03) | (0.20) | &nbsp;&nbsp;&nbsp;9.44 | (8.18) | &nbsp;&nbsp;&nbsp;79600 | 0.61 | 0.59 | 2.05 | 19 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;9.44 | 0.24 | (0.06) | &nbsp;&nbsp;0.18 | (0.20) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.20) | &nbsp;&nbsp;&nbsp;9.42 | &nbsp;&nbsp;2.02 | &nbsp;&nbsp;&nbsp;91013 | 0.61 | 0.59 | 2.60 | 12 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;9.42 | 0.27 | (0.13) | &nbsp;&nbsp;0.14 | (0.25) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.25) | &nbsp;&nbsp;&nbsp;9.31 | &nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;90757 | 0.61 | 0.59 | 2.89 | 13 |
| 07/31/25@ | &nbsp;&nbsp;&nbsp;9.31 | 0.16 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;9.57 | &nbsp;&nbsp;2.79 | &nbsp;&nbsp;&nbsp;93308 | &nbsp;&nbsp;0.65(3) | &nbsp;&nbsp;0.59(3) | &nbsp;&nbsp;3.32(3) | 66 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | Annualized |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA Fixed Income Intermediate Index Portfolio — Class 1** | **SA Fixed Income Intermediate Index Portfolio — Class 1** | **SA Fixed Income Intermediate Index Portfolio — Class 1** | **SA Fixed Income Intermediate Index Portfolio — Class 1** | **SA Fixed Income Intermediate Index Portfolio — Class 1** | **SA Fixed Income Intermediate Index Portfolio — Class 1** | **SA Fixed Income Intermediate Index Portfolio — Class 1** | **SA Fixed Income Intermediate Index Portfolio — Class 1** | **SA Fixed Income Intermediate Index Portfolio — Class 1** | **SA Fixed Income Intermediate Index Portfolio — Class 1** | **SA Fixed Income Intermediate Index Portfolio — Class 1** | **SA Fixed Income Intermediate Index Portfolio — Class 1** | **SA Fixed Income Intermediate Index Portfolio — Class 1** | **SA Fixed Income Intermediate Index Portfolio — Class 1** | **SA Fixed Income Intermediate Index Portfolio — Class 1** |
| 01/31/21 | $10.51 | $0.19 | $0.28 | $0.47 | $(0.20) | $— | $(0.20) | $10.78 | &nbsp;&nbsp;4.48% | $369686 | 0.36% | 0.34% | 1.77% | 16% |
| 01/31/22 | 10.78 | 0.15 | (0.42) | (0.27) | (0.14) | (0.01) | (0.15) | 10.36 | (2.51) | 479748 | 0.35 | 0.34 | 1.38 | 16 |
| 01/31/23 | 10.36 | 0.17 | (0.62) | (0.45) | (0.14) | (0.00) | (0.14) | &nbsp;&nbsp;&nbsp;9.77 | (4.28) | 474835 | 0.36 | 0.34 | 1.73 | 24 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;9.77 | 0.24 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;0.32 | (0.17) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.17) | &nbsp;&nbsp;&nbsp;9.92 | 3.38 | 450305 | 0.36 | 0.34 | 2.46 | 15 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;9.92 | 0.28 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;0.32 | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | &nbsp;&nbsp;&nbsp;9.96 | 3.23 | 419991 | 0.36 | 0.34 | 2.83 | 18 |
| 07/31/25@ | &nbsp;&nbsp;&nbsp;9.96 | 0.17 | &nbsp;&nbsp;0.13 | &nbsp;&nbsp;0.30 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.26 | 3.01 | 438375 | &nbsp;&nbsp;0.41(3) | &nbsp;&nbsp;0.33(3) | &nbsp;&nbsp;3.31(3) | 70 |
| **SA Fixed Income Intermediate Index Portfolio — Class 3** | **SA Fixed Income Intermediate Index Portfolio — Class 3** | **SA Fixed Income Intermediate Index Portfolio — Class 3** | **SA Fixed Income Intermediate Index Portfolio — Class 3** | **SA Fixed Income Intermediate Index Portfolio — Class 3** | **SA Fixed Income Intermediate Index Portfolio — Class 3** | **SA Fixed Income Intermediate Index Portfolio — Class 3** | **SA Fixed Income Intermediate Index Portfolio — Class 3** | **SA Fixed Income Intermediate Index Portfolio — Class 3** | **SA Fixed Income Intermediate Index Portfolio — Class 3** | **SA Fixed Income Intermediate Index Portfolio — Class 3** | **SA Fixed Income Intermediate Index Portfolio — Class 3** | **SA Fixed Income Intermediate Index Portfolio — Class 3** | **SA Fixed Income Intermediate Index Portfolio — Class 3** | **SA Fixed Income Intermediate Index Portfolio — Class 3** |
| 01/31/21 | 10.49 | 0.16 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;0.44 | (0.19) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.19) | 10.74 | 4.18 | &nbsp;&nbsp;&nbsp;32017 | 0.61 | 0.59 | 1.51 | 16 |
| 01/31/22 | 10.74 | 0.12 | (0.43) | (0.31) | (0.11) | (0.01) | (0.12) | 10.31 | (2.83) | &nbsp;&nbsp;&nbsp;39760 | 0.60 | 0.59 | 1.13 | 16 |
| 01/31/23 | 10.31 | 0.14 | (0.61) | (0.47) | (0.12) | (0.00) | (0.12) | &nbsp;&nbsp;&nbsp;9.72 | (4.52) | &nbsp;&nbsp;&nbsp;41870 | 0.61 | 0.59 | 1.48 | 24 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;9.72 | 0.21 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;0.30 | (0.15) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.15) | &nbsp;&nbsp;&nbsp;9.87 | 3.18 | &nbsp;&nbsp;&nbsp;48807 | 0.61 | 0.59 | 2.21 | 15 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;9.87 | 0.26 | &nbsp;&nbsp;0.03 | &nbsp;&nbsp;0.29 | (0.26) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.26) | &nbsp;&nbsp;&nbsp;9.90 | 2.91 | &nbsp;&nbsp;&nbsp;51850 | 0.61 | 0.59 | 2.59 | 18 |
| 07/31/25@ | &nbsp;&nbsp;&nbsp;9.90 | 0.15 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.19 | 2.93 | &nbsp;&nbsp;&nbsp;55475 | &nbsp;&nbsp;0.66(3) | &nbsp;&nbsp;0.58(3) | &nbsp;&nbsp;3.06(3) | 70 |
| **SA Franklin BW U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 1** |
| 01/31/21 | 20.13 | 0.39 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;0.40 | (0.40) | (1.15) | (1.55) | 18.98 | 2.46 | 909235 | 0.75 | 0.70 | 2.16 | 79 |
| 01/31/22 | 18.98 | 0.35 | &nbsp;&nbsp;5.16 | &nbsp;&nbsp;5.51 | (0.43) | (0.16) | (0.59) | 23.90 | 28.99 | 993576 | 0.75 | 0.70 | 1.53 | 58 |
| 01/31/23 | 23.90 | 0.45 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;0.57 | (0.41) | (3.92) | (4.33) | 20.14 | 3.71 | 874782 | 0.75 | 0.70 | 2.05 | 49 |
| 01/31/24 | 20.14 | 0.40 | &nbsp;&nbsp;0.21 | &nbsp;&nbsp;0.61 | (0.49) | (1.94) | (2.43) | 18.32 | 4.57 | 752273 | 0.75 | 0.70 | 2.14 | 43 |
| 01/31/25 | 18.32 | 0.39 | &nbsp;&nbsp;3.81 | &nbsp;&nbsp;4.20 | (0.45) | (0.22) | (0.67) | 21.85 | 22.93 | 755245 | 0.75 | 0.70 | 1.92 | 60 |
| 07/31/25@ | 21.85 | 0.19 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 22.09 | 1.10 | 752537 | &nbsp;&nbsp;0.76(3) | &nbsp;&nbsp;0.70(3) | &nbsp;&nbsp;1.78(3) | 40 |
| **SA Franklin BW U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 2** |
| 01/31/21 | 20.14 | 0.36 | &nbsp;&nbsp;0.02 | &nbsp;&nbsp;0.38 | (0.37) | (1.15) | (1.52) | 19.00 | 2.34 | &nbsp;&nbsp;&nbsp;40366 | 0.90 | 0.85 | 2.02 | 79 |
| 01/31/22 | 19.00 | 0.32 | &nbsp;&nbsp;5.15 | &nbsp;&nbsp;5.47 | (0.40) | (0.16) | (0.56) | 23.91 | 28.75 | &nbsp;&nbsp;&nbsp;45417 | 0.90 | 0.85 | 1.38 | 58 |
| 01/31/23 | 23.91 | 0.42 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;0.54 | (0.37) | (3.92) | (4.29) | 20.16 | 3.57 | &nbsp;&nbsp;&nbsp;40173 | 0.90 | 0.85 | 1.90 | 49 |
| 01/31/24 | 20.16 | 0.37 | &nbsp;&nbsp;0.21 | &nbsp;&nbsp;0.58 | (0.45) | (1.94) | (2.39) | 18.35 | 4.42 | &nbsp;&nbsp;&nbsp;38128 | 0.90 | 0.85 | 1.99 | 43 |
| 01/31/25 | 18.35 | 0.36 | &nbsp;&nbsp;3.81 | &nbsp;&nbsp;4.17 | (0.42) | (0.22) | (0.64) | 21.88 | 22.73 | &nbsp;&nbsp;&nbsp;39804 | 0.90 | 0.85 | 1.77 | 60 |
| 07/31/25@ | 21.88 | 0.17 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;0.21 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 22.09 | 0.96 | &nbsp;&nbsp;&nbsp;38604 | &nbsp;&nbsp;0.91(3) | &nbsp;&nbsp;0.85(3) | &nbsp;&nbsp;1.63(3) | 40 |
| **SA Franklin BW U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin BW U.S. Large Cap Value Portfolio — Class 3** |
| 01/31/21 | 20.01 | 0.34 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;0.35 | (0.35) | (1.15) | (1.50) | 18.86 | 2.20 | 471406 | 1.00 | 0.95 | 1.92 | 79 |
| 01/31/22 | 18.86 | 0.30 | &nbsp;&nbsp;5.11 | &nbsp;&nbsp;5.41 | (0.38) | (0.16) | (0.54) | 23.73 | 28.65 | 511607 | 1.00 | 0.95 | 1.28 | 58 |
| 01/31/23 | 23.73 | 0.40 | &nbsp;&nbsp;0.11 | &nbsp;&nbsp;0.51 | (0.34) | (3.92) | (4.26) | 19.98 | 3.47 | 443551 | 1.00 | 0.95 | 1.80 | 49 |
| 01/31/24 | 19.98 | 0.35 | &nbsp;&nbsp;0.20 | &nbsp;&nbsp;0.55 | (0.43) | (1.94) | (2.37) | 18.16 | 4.28 | 426547 | 1.00 | 0.95 | 1.89 | 43 |
| 01/31/25 | 18.16 | 0.34 | &nbsp;&nbsp;3.77 | &nbsp;&nbsp;4.11 | (0.40) | (0.22) | (0.62) | 21.65 | 22.63 | 440003 | 1.00 | 0.95 | 1.67 | 60 |
| 07/31/25@ | 21.65 | 0.16 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;0.20 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 21.85 | 0.92 | 420934 | &nbsp;&nbsp;1.01(3) | &nbsp;&nbsp;0.95(3) | &nbsp;&nbsp;1.53(3) | 40 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | Annualized |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA Franklin Small Company Value Portfolio — Class 1** | **SA Franklin Small Company Value Portfolio — Class 1** | **SA Franklin Small Company Value Portfolio — Class 1** | **SA Franklin Small Company Value Portfolio — Class 1** | **SA Franklin Small Company Value Portfolio — Class 1** | **SA Franklin Small Company Value Portfolio — Class 1** | **SA Franklin Small Company Value Portfolio — Class 1** | **SA Franklin Small Company Value Portfolio — Class 1** | **SA Franklin Small Company Value Portfolio — Class 1** | **SA Franklin Small Company Value Portfolio — Class 1** | **SA Franklin Small Company Value Portfolio — Class 1** | **SA Franklin Small Company Value Portfolio — Class 1** | **SA Franklin Small Company Value Portfolio — Class 1** | **SA Franklin Small Company Value Portfolio — Class 1** | **SA Franklin Small Company Value Portfolio — Class 1** |
| 01/31/21 | $18.07 | $0.22 | $1.68 | $1.90 | $(0.21) | $(0.91) | $(1.12) | $18.85 | 11.24% | $155162 | 1.02% | 0.97% | 1.36% | &nbsp;&nbsp;77% |
| 01/31/22 | 18.85 | 0.13 | &nbsp;&nbsp;3.69 | &nbsp;&nbsp;3.82 | (0.25) | (1.21) | (1.46) | 21.21 | 19.85 | 143267 | 1.01 | 0.96 | 0.60 | 50 |
| 01/31/23 | 21.21 | 0.09 | (0.33) | (0.24) | (0.14) | (4.23) | (4.37) | 16.60 | 1.11 | 126372 | 1.03 | 0.97 | 0.47 | 52 |
| 01/31/24 | 16.60 | 0.14 | (0.25) | (0.11) | (0.08) | (1.15) | (1.23) | 15.26 | 0.32 | 105889 | 1.05 | 0.95 | 0.92 | 63 |
| 01/31/25 | 15.26 | 0.17 | &nbsp;&nbsp;2.59 | &nbsp;&nbsp;2.76 | (0.16) | (0.45) | (0.61) | 17.41 | 17.92 | 106222 | 1.03 | 0.93 | 1.00 | 55 |
| 07/31/25@ | 17.41 | 0.09 | (0.60) | (0.51) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 16.90 | (2.93) | 102273 | &nbsp;&nbsp;1.05(3) | &nbsp;&nbsp;0.95(3) | &nbsp;&nbsp;1.13(3) | 28 |
| **SA Franklin Small Company Value Portfolio — Class 3** | **SA Franklin Small Company Value Portfolio — Class 3** | **SA Franklin Small Company Value Portfolio — Class 3** | **SA Franklin Small Company Value Portfolio — Class 3** | **SA Franklin Small Company Value Portfolio — Class 3** | **SA Franklin Small Company Value Portfolio — Class 3** | **SA Franklin Small Company Value Portfolio — Class 3** | **SA Franklin Small Company Value Portfolio — Class 3** | **SA Franklin Small Company Value Portfolio — Class 3** | **SA Franklin Small Company Value Portfolio — Class 3** | **SA Franklin Small Company Value Portfolio — Class 3** | **SA Franklin Small Company Value Portfolio — Class 3** | **SA Franklin Small Company Value Portfolio — Class 3** | **SA Franklin Small Company Value Portfolio — Class 3** | **SA Franklin Small Company Value Portfolio — Class 3** |
| 01/31/21 | 17.87 | 0.17 | &nbsp;&nbsp;1.66 | &nbsp;&nbsp;1.83 | (0.17) | (0.91) | (1.08) | 18.62 | 10.92 | 196232 | 1.27 | 1.22 | 1.09 | 77 |
| 01/31/22 | 18.62 | 0.08 | &nbsp;&nbsp;3.63 | &nbsp;&nbsp;3.71 | (0.20) | (1.21) | (1.41) | 20.92 | 19.54 | 212477 | 1.26 | 1.21 | 0.36 | 50 |
| 01/31/23 | 20.92 | 0.04 | (0.33) | (0.29) | (0.08) | (4.23) | (4.31) | 16.32 | 0.86 | 191890 | 1.28 | 1.22 | 0.23 | 52 |
| 01/31/24 | 16.32 | 0.10 | (0.24) | (0.14) | (0.04) | (1.15) | (1.19) | 14.99 | 0.09 | 178308 | 1.30 | 1.20 | 0.67 | 63 |
| 01/31/25 | 14.99 | 0.12 | &nbsp;&nbsp;2.54 | &nbsp;&nbsp;2.66 | (0.12) | (0.45) | (0.57) | 17.08 | 17.58 | 188163 | 1.28 | 1.18 | 0.75 | 55 |
| 07/31/25@ | 17.08 | 0.07 | (0.58) | (0.51) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 16.57 | (2.99) | 180895 | &nbsp;&nbsp;1.30(3) | &nbsp;&nbsp;1.20(3) | &nbsp;&nbsp;0.86(3) | 28 |
| **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 1** |
| 01/31/21 | 16.00 | 0.26 | &nbsp;&nbsp;1.28 | &nbsp;&nbsp;1.54 | (0.26) | (0.14) | (0.40) | 17.14 | 9.60 | 148051 | 0.66 | 0.67 | 1.62 | 32 |
| 01/31/22 | 17.14 | 0.27 | &nbsp;&nbsp;3.31 | &nbsp;&nbsp;3.58 | (0.01) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.01) | 20.71 | 20.90 | 156026 | 0.57 | 0.57 | 1.34 | 32 |
| 01/31/23 | 20.71 | 0.27 | (1.08) | (0.81) | (0.34) | (2.17) | (2.51) | 17.39 | (3.06) | 129967 | 0.58 | 0.58 | 1.42 | 105 |
| 01/31/24 | 17.39 | 0.18 | &nbsp;&nbsp;2.85 | &nbsp;&nbsp;3.03 | (0.27) | (1.72) | (1.99) | 18.43 | 18.84 | 129228 | 0.60 | 0.60 | 1.00 | 85 |
| 01/31/25 | 18.43 | 0.16 | &nbsp;&nbsp;5.35 | &nbsp;&nbsp;5.51 | (0.14) | (0.55) | (0.69) | 23.25 | 29.94 | 208466 | 0.56 | 0.56 | 0.76 | 66 |
| 07/31/25@ | 23.25 | 0.09 | &nbsp;&nbsp;0.87 | &nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 24.21 | 4.13 | 286730 | &nbsp;&nbsp;0.53(3) | &nbsp;&nbsp;0.53(3) | &nbsp;&nbsp;0.84(3) | 42 |
| **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Core Portfolio — Class 3** |
| 01/31/21 | 15.99 | 0.19 | &nbsp;&nbsp;1.29 | &nbsp;&nbsp;1.48 | (0.23) | (0.14) | (0.37) | 17.10 | 9.27 | &nbsp;&nbsp;&nbsp;&nbsp;2284 | 0.93 | 0.93 | 1.25 | 32 |
| 01/31/22 | 17.10 | 0.21 | &nbsp;&nbsp;3.33 | &nbsp;&nbsp;3.54 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 20.64 | 20.70 | &nbsp;&nbsp;&nbsp;&nbsp;5840 | 0.82 | 0.82 | 1.07 | 32 |
| 01/31/23 | 20.64 | 0.21 | (1.07) | (0.86) | (0.31) | (2.17) | (2.48) | 17.30 | (3.31) | &nbsp;&nbsp;&nbsp;&nbsp;8177 | 0.83 | 0.83 | 1.13 | 105 |
| 01/31/24 | 17.30 | 0.13 | &nbsp;&nbsp;2.83 | &nbsp;&nbsp;2.96 | (0.24) | (1.72) | (1.96) | 18.30 | 18.53 | &nbsp;&nbsp;&nbsp;13904 | 0.85 | 0.85 | 0.72 | 85 |
| 01/31/25 | 18.30 | 0.11 | &nbsp;&nbsp;5.30 | &nbsp;&nbsp;5.41 | (0.11) | (0.55) | (0.66) | 23.05 | 29.60 | &nbsp;&nbsp;&nbsp;22229 | 0.81 | 0.81 | 0.51 | 66 |
| 07/31/25@ | 23.05 | 0.07 | &nbsp;&nbsp;0.85 | &nbsp;&nbsp;0.92 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 23.97 | 3.99 | &nbsp;&nbsp;&nbsp;24671 | &nbsp;&nbsp;0.78(3) | &nbsp;&nbsp;0.78(3) | &nbsp;&nbsp;0.60(3) | 42 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | Annualized |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 1** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 1** |
| 01/31/21 | $13.78 | $0.35 | $1.21 | $1.56 | $(0.32) | $(1.77) | $(2.09) | $13.25 | 11.91% | $210465 | 0.64% | 0.64% | 2.73% | &nbsp;&nbsp;80% |
| 01/31/22 | 13.25 | 0.25 | &nbsp;&nbsp;2.27 | &nbsp;&nbsp;2.52 | (0.35) | (0.94) | (1.29) | 14.48 | 18.78 | 190080 | 0.66 | 0.66 | 1.65 | 166 |
| 01/31/23 | 14.48 | 0.21 | (0.39) | (0.18) | (0.27) | (3.24) | (3.51) | 10.79 | 0.36 | 158051 | 0.65 | 0.65 | 1.60 | 111 |
| 01/31/24 | 10.79 | 0.18 | &nbsp;&nbsp;0.38 | &nbsp;&nbsp;0.56 | (0.19) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.19) | 11.16 | 5.35 | 136794 | 0.65 | 0.65 | 1.72 | 101 |
| 01/31/25 | 11.16 | 0.20 | &nbsp;&nbsp;2.31 | &nbsp;&nbsp;2.51 | (0.16) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.16) | 13.51 | 22.50 | 267410 | 0.64 | 0.64 | 1.57 | 68 |
| 07/31/25@ | 13.51 | 0.09 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.68 | 1.26 | 337430 | &nbsp;&nbsp;0.64(3) | &nbsp;&nbsp;0.64(3) | &nbsp;&nbsp;1.45(3) | 42 |
| **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 2** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 2** |
| 01/31/21 | 13.75 | 0.33 | &nbsp;&nbsp;1.20 | &nbsp;&nbsp;1.53 | (0.29) | (1.77) | (2.06) | 13.22 | 11.74 | &nbsp;&nbsp;&nbsp;&nbsp;5359 | 0.79 | 0.79 | 2.59 | 80 |
| 01/31/22 | 13.22 | 0.22 | &nbsp;&nbsp;2.27 | &nbsp;&nbsp;2.49 | (0.33) | (0.94) | (1.27) | 14.44 | 18.59 | &nbsp;&nbsp;&nbsp;&nbsp;5669 | 0.82 | 0.82 | 1.47 | 166 |
| 01/31/23 | 14.44 | 0.19 | (0.40) | (0.21) | (0.24) | (3.24) | (3.48) | 10.75 | 0.17 | &nbsp;&nbsp;&nbsp;&nbsp;5114 | 0.80 | 0.80 | 1.44 | 111 |
| 01/31/24 | 10.75 | 0.17 | &nbsp;&nbsp;0.38 | &nbsp;&nbsp;0.55 | (0.17) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.17) | 11.13 | 5.28 | &nbsp;&nbsp;&nbsp;&nbsp;4603 | 0.80 | 0.80 | 1.57 | 101 |
| 01/31/25 | 11.13 | 0.18 | &nbsp;&nbsp;2.30 | &nbsp;&nbsp;2.48 | (0.14) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.14) | 13.47 | 22.31 | &nbsp;&nbsp;&nbsp;&nbsp;4923 | 0.79 | 0.79 | 1.43 | 68 |
| 07/31/25@ | 13.47 | 0.08 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.63 | 1.19 | &nbsp;&nbsp;&nbsp;&nbsp;4828 | &nbsp;&nbsp;0.79(3) | &nbsp;&nbsp;0.79(3) | &nbsp;&nbsp;1.29(3) | 42 |
| **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 3** | **SA Franklin Systematic U.S. Large Cap Value Portfolio — Class 3** |
| 01/31/21 | 13.62 | 0.31 | &nbsp;&nbsp;1.19 | &nbsp;&nbsp;1.50 | (0.29) | (1.77) | (2.06) | 13.06 | 11.58 | 201091 | 0.89 | 0.89 | 2.47 | 80 |
| 01/31/22 | 13.06 | 0.20 | &nbsp;&nbsp;2.26 | &nbsp;&nbsp;2.46 | (0.33) | (0.94) | (1.27) | 14.25 | 18.54 | 239036 | 0.92 | 0.92 | 1.35 | 166 |
| 01/31/23 | 14.25 | 0.17 | (0.39) | (0.22) | (0.23) | (3.24) | (3.47) | 10.56 | 0.05 | 216008 | 0.90 | 0.90 | 1.35 | 111 |
| 01/31/24 | 10.56 | 0.15 | &nbsp;&nbsp;0.38 | &nbsp;&nbsp;0.53 | (0.16) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.16) | 10.93 | 5.18 | 216296 | 0.90 | 0.90 | 1.47 | 101 |
| 01/31/25 | 10.93 | 0.16 | &nbsp;&nbsp;2.26 | &nbsp;&nbsp;2.42 | (0.13) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.13) | 13.22 | 22.15 | 230505 | 0.89 | 0.89 | 1.33 | 68 |
| 07/31/25@ | 13.22 | 0.08 | &nbsp;&nbsp;0.07 | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.37 | 1.13 | 223617 | &nbsp;&nbsp;0.89(3) | &nbsp;&nbsp;0.89(3) | &nbsp;&nbsp;1.19(3) | 42 |
| **SA Franklin Tactical Opportunities Portfolio — Class 1** | **SA Franklin Tactical Opportunities Portfolio — Class 1** | **SA Franklin Tactical Opportunities Portfolio — Class 1** | **SA Franklin Tactical Opportunities Portfolio — Class 1** | **SA Franklin Tactical Opportunities Portfolio — Class 1** | **SA Franklin Tactical Opportunities Portfolio — Class 1** | **SA Franklin Tactical Opportunities Portfolio — Class 1** | **SA Franklin Tactical Opportunities Portfolio — Class 1** | **SA Franklin Tactical Opportunities Portfolio — Class 1** | **SA Franklin Tactical Opportunities Portfolio — Class 1** | **SA Franklin Tactical Opportunities Portfolio — Class 1** | **SA Franklin Tactical Opportunities Portfolio — Class 1** | **SA Franklin Tactical Opportunities Portfolio — Class 1** | **SA Franklin Tactical Opportunities Portfolio — Class 1** | **SA Franklin Tactical Opportunities Portfolio — Class 1** |
| 01/31/21 | 11.05 | 0.15 | &nbsp;&nbsp;0.69 | &nbsp;&nbsp;0.84 | (0.15) | (0.04) | (0.19) | 11.70 | 7.65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159 | 0.97 | 0.81 | 1.38 | 61 |
| 01/31/22 | 11.70 | 0.13 | &nbsp;&nbsp;1.41 | &nbsp;&nbsp;1.54 | (0.15) | (0.82) | (0.97) | 12.27 | 12.95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183 | 0.92 | 0.81 | 1.05 | 46 |
| 01/31/23 | 12.27 | 0.16 | (0.99) | (0.83) | (0.14) | (0.50) | (0.64) | 10.80 | (6.34) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204 | 0.94 | 0.81 | 1.42 | 46 |
| 01/31/24 | 10.80 | 0.18 | &nbsp;&nbsp;1.07 | &nbsp;&nbsp;1.25 | (0.19) | (0.01) | (0.20) | 11.85 | 11.63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 | 1.01 | 0.81 | 1.68 | 32 |
| 01/31/25 | 11.85 | 0.19 | &nbsp;&nbsp;1.52 | &nbsp;&nbsp;1.71 | (0.02) | (0.04) | (0.06) | 13.50 | 14.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183 | 0.96 | 0.81 | 1.50 | &nbsp;&nbsp;&nbsp;&nbsp;30(4) |
| 07/31/25@ | 13.50 | 0.12 | &nbsp;&nbsp;0.67 | &nbsp;&nbsp;0.79 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 14.29 | 5.85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171 | &nbsp;&nbsp;0.96(3) | &nbsp;&nbsp;0.81(3) | &nbsp;&nbsp;1.81(3) | &nbsp;&nbsp;&nbsp;&nbsp;51(4) |
| **SA Franklin Tactical Opportunities Portfolio — Class 3** | **SA Franklin Tactical Opportunities Portfolio — Class 3** | **SA Franklin Tactical Opportunities Portfolio — Class 3** | **SA Franklin Tactical Opportunities Portfolio — Class 3** | **SA Franklin Tactical Opportunities Portfolio — Class 3** | **SA Franklin Tactical Opportunities Portfolio — Class 3** | **SA Franklin Tactical Opportunities Portfolio — Class 3** | **SA Franklin Tactical Opportunities Portfolio — Class 3** | **SA Franklin Tactical Opportunities Portfolio — Class 3** | **SA Franklin Tactical Opportunities Portfolio — Class 3** | **SA Franklin Tactical Opportunities Portfolio — Class 3** | **SA Franklin Tactical Opportunities Portfolio — Class 3** | **SA Franklin Tactical Opportunities Portfolio — Class 3** | **SA Franklin Tactical Opportunities Portfolio — Class 3** | **SA Franklin Tactical Opportunities Portfolio — Class 3** |
| 01/31/21 | 11.04 | 0.12 | &nbsp;&nbsp;0.70 | &nbsp;&nbsp;0.82 | (0.13) | (0.04) | (0.17) | 11.69 | 7.45 | &nbsp;&nbsp;&nbsp;70795 | 1.22 | 1.06 | 1.11 | 61 |
| 01/31/22 | 11.69 | 0.10 | &nbsp;&nbsp;1.40 | &nbsp;&nbsp;1.50 | (0.12) | (0.82) | (0.94) | 12.25 | 12.62 | &nbsp;&nbsp;&nbsp;78964 | 1.17 | 1.06 | 0.80 | 46 |
| 01/31/23 | 12.25 | 0.13 | (0.99) | (0.86) | (0.11) | (0.50) | (0.61) | 10.78 | (6.57) | &nbsp;&nbsp;&nbsp;81841 | 1.19 | 1.06 | 1.18 | 46 |
| 01/31/24 | 10.78 | 0.15 | &nbsp;&nbsp;1.06 | &nbsp;&nbsp;1.21 | (0.16) | (0.01) | (0.17) | 11.82 | 11.30 | &nbsp;&nbsp;&nbsp;93788 | 1.26 | 1.06 | 1.40 | 32 |
| 01/31/25 | 11.82 | 0.16 | &nbsp;&nbsp;1.51 | &nbsp;&nbsp;1.67 | (0.02) | (0.04) | (0.06) | 13.43 | 14.11 | 103282 | 1.21 | 1.06 | 1.26 | &nbsp;&nbsp;&nbsp;&nbsp;30(4) |
| 07/31/25@ | 13.43 | 0.10 | &nbsp;&nbsp;0.68 | &nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 14.21 | 5.81 | 104941 | &nbsp;&nbsp;1.21(3) | &nbsp;&nbsp;1.06(3) | &nbsp;&nbsp;1.57(3) | &nbsp;&nbsp;&nbsp;&nbsp;51(4) |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | Annualized |
| (4) | Excludes TBA transactions. Beginning with the period ended January 31, 2025, portfolio turnover rates including TBA transactions are being added as Supplemental Ratios in the table below. |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Supplemental Ratios** |  |  |  |  |  |  |
| **Portfolio Turnover (including TBA transactions)** | &nbsp;&nbsp;**01/21** | &nbsp;&nbsp;**01/22** | &nbsp;&nbsp;**01/23** | &nbsp;&nbsp;**01/24** | &nbsp;&nbsp;**01/25** | &nbsp;&nbsp;**07/25** |
| SA Franklin Tactical Opportunities Portfolio<br>| &nbsp;&nbsp;N/A | &nbsp;&nbsp;N/A | &nbsp;&nbsp;N/A | &nbsp;&nbsp;N/A | &nbsp;&nbsp;37% | &nbsp;&nbsp;63% |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA Global Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 1(3)** |
| 01/31/21 | $16.10 | $0.44 | $1.40 | $1.84 | $(0.27) | $(0.18) | $(0.45) | $17.49 | 11.48% | $247 | 0.26% | 0.18% | &nbsp;&nbsp;2.81% | 18% |
| 01/31/22 | 17.49 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.93 | &nbsp;&nbsp;1.15 | (0.31) | (0.50) | (0.81) | 17.83 | 6.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96 | 0.19 | 0.18 | 1.15 | 13 |
| 01/31/23 | 17.83 | &nbsp;&nbsp;0.26 | (1.33) | (1.07) | (0.05) | (0.15) | (0.20) | 16.56 | (5.90) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | 0.20 | 0.18 | 1.59 | 13 |
| 01/31/24 | 16.56 | &nbsp;&nbsp;0.25 | &nbsp;&nbsp;0.96 | &nbsp;&nbsp;1.21 | (0.29) | (0.51) | (0.80) | 16.97 | 7.77 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51 | 0.20 | 0.18 | 1.51 | 9 |
| 01/31/25 | 16.97 | &nbsp;&nbsp;0.31 | &nbsp;&nbsp;1.63 | &nbsp;&nbsp;1.94 | (0.41) | (0.49) | (0.90) | 18.01 | 11.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | 0.19 | 0.18 | 1.75 | 11 |
| 07/31/25@ | 18.01 | (0.02) | &nbsp;&nbsp;1.02 | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 19.01 | 5.55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106 | &nbsp;&nbsp;0.19(4) | &nbsp;&nbsp;0.18(4) | (0.18)(4) | 7 |
| **SA Global Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Global Index Allocation 60/40 Portfolio — Class 3(3)** |
| 01/31/21 | 16.08 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;1.53 | &nbsp;&nbsp;1.80 | (0.24) | (0.18) | (0.42) | 17.46 | 11.24 | &nbsp;&nbsp;&nbsp;68258 | 0.51 | 0.43 | 1.69 | 18 |
| 01/31/22 | 17.46 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;0.91 | &nbsp;&nbsp;1.10 | (0.24) | (0.50) | (0.74) | 17.82 | 6.19 | &nbsp;&nbsp;&nbsp;86414 | 0.46 | 0.43 | 1.03 | 13 |
| 01/31/23 | 17.82 | &nbsp;&nbsp;0.22 | (1.33) | (1.11) | (0.01) | (0.15) | (0.16) | 16.55 | (6.14) | &nbsp;&nbsp;&nbsp;84554 | 0.45 | 0.43 | 1.35 | 13 |
| 01/31/24 | 16.55 | &nbsp;&nbsp;0.25 | &nbsp;&nbsp;0.94 | &nbsp;&nbsp;1.19 | (0.26) | (0.51) | (0.77) | 16.97 | 7.58 | &nbsp;&nbsp;&nbsp;94238 | 0.45 | 0.43 | 1.53 | 9 |
| 01/31/25 | 16.97 | &nbsp;&nbsp;0.31 | &nbsp;&nbsp;1.59 | &nbsp;&nbsp;1.90 | (0.34) | (0.49) | (0.83) | 18.04 | 11.21 | 103017 | 0.44 | 0.43 | 1.73 | 11 |
| 07/31/25@ | 18.04 | (0.04) | &nbsp;&nbsp;1.02 | &nbsp;&nbsp;0.98 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 19.02 | 5.43 | 105944 | &nbsp;&nbsp;0.44(4) | &nbsp;&nbsp;0.43(4) | (0.43)(4) | 7 |
| **SA Global Index Allocation 75/25 Portfolio — Class 1(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 1(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 1(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 1(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 1(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 1(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 1(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 1(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 1(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 1(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 1(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 1(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 1(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 1(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 1(3)** |
| 01/31/21 | 16.00 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;1.82 | &nbsp;&nbsp;2.10 | (0.25) | (0.15) | (0.40) | 17.70 | 13.13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233 | 0.28 | 0.18 | 1.76 | 19 |
| 01/31/22 | 17.70 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;1.26 | &nbsp;&nbsp;1.50 | (0.31) | (0.37) | (0.68) | 18.52 | 8.36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114 | 0.20 | 0.18 | 1.26 | 9 |
| 01/31/23 | 18.52 | &nbsp;&nbsp;0.26 | (1.39) | (1.13) | (0.06) | (0.21) | (0.27) | 17.12 | (5.97) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107 | 0.20 | 0.18 | 1.58 | 10 |
| 01/31/24 | 17.12 | &nbsp;&nbsp;0.40 | &nbsp;&nbsp;1.03 | &nbsp;&nbsp;1.43 | (0.30) | (0.62) | (0.92) | 17.63 | 8.85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377 | 0.20 | 0.18 | 2.33 | 7 |
| 01/31/25 | 17.63 | &nbsp;&nbsp;0.35 | &nbsp;&nbsp;2.07 | &nbsp;&nbsp;2.42 | (0.29) | (0.40) | (0.69) | 19.36 | 13.76 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 | 0.19 | 0.18 | 1.85 | 10 |
| 07/31/25@ | 19.36 | (0.02) | &nbsp;&nbsp;1.21 | &nbsp;&nbsp;1.19 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 20.55 | 6.15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446 | &nbsp;&nbsp;0.19(4) | &nbsp;&nbsp;0.18(4) | (0.18)(4) | 6 |
| **SA Global Index Allocation 75/25 Portfolio — Class 3(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 3(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 3(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 3(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 3(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 3(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 3(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 3(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 3(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 3(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 3(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 3(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 3(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 3(3)** | **SA Global Index Allocation 75/25 Portfolio — Class 3(3)** |
| 01/31/21 | 15.99 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;1.81 | &nbsp;&nbsp;2.05 | (0.22) | (0.15) | (0.37) | 17.67 | 12.82 | &nbsp;&nbsp;&nbsp;59391 | 0.53 | 0.43 | 1.53 | 19 |
| 01/31/22 | 17.67 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;1.27 | &nbsp;&nbsp;1.46 | (0.25) | (0.37) | (0.62) | 18.51 | 8.13 | &nbsp;&nbsp;&nbsp;84832 | 0.46 | 0.43 | 1.01 | 9 |
| 01/31/23 | 18.51 | &nbsp;&nbsp;0.23 | (1.40) | (1.17) | (0.02) | (0.21) | (0.23) | 17.11 | (6.21) | &nbsp;&nbsp;&nbsp;84384 | 0.45 | 0.43 | 1.35 | 10 |
| 01/31/24 | 17.11 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;1.12 | &nbsp;&nbsp;1.38 | (0.26) | (0.62) | (0.88) | 17.61 | 8.54 | &nbsp;&nbsp;&nbsp;96083 | 0.45 | 0.43 | 1.49 | 7 |
| 01/31/25 | 17.61 | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;2.08 | &nbsp;&nbsp;2.37 | (0.25) | (0.40) | (0.65) | 19.33 | 13.48 | 104982 | 0.44 | 0.43 | 1.54 | 10 |
| 07/31/25@ | 19.33 | (0.04) | &nbsp;&nbsp;1.21 | &nbsp;&nbsp;1.17 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 20.50 | 6.05 | 107147 | &nbsp;&nbsp;0.44(4) | &nbsp;&nbsp;0.43(4) | (0.43)(4) | 6 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | The expense ratios do not include underlying fund expenses that the Portfolio bears indirectly. Additionally, recognition of net investment income by the Portfolio is affected by the timing of the declaration of dividends by the underlying investment companies in which the Portfolio invests. Accordingly, the ratio of net investment income does not reflect the proportionate share of income from these funds. |
| (4) | Annualized |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA Global Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 1(3)** |
| 01/31/21 | $15.80 | $0.30 | $1.88 | $2.18 | $— | $— | $— | $17.98 | 13.80% | $2874 | 0.16% | 0.18% | &nbsp;&nbsp;1.99% | &nbsp;&nbsp;19% |
| 01/31/22 | 17.98 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;1.71 | &nbsp;&nbsp;1.95 | (0.21) | (0.20) | (0.41) | 19.52 | 10.75 | &nbsp;&nbsp;&nbsp;&nbsp;4050 | 0.13 | 0.14 | 1.23 | &nbsp;&nbsp;&nbsp;5 |
| 01/31/23 | 19.52 | &nbsp;&nbsp;0.28 | (1.46) | (1.18) | (0.26) | (0.31) | (0.57) | 17.77 | (5.64) | &nbsp;&nbsp;&nbsp;&nbsp;3866 | 0.13 | 0.13 | 1.58 | &nbsp;&nbsp;&nbsp;8 |
| 01/31/24 | 17.77 | &nbsp;&nbsp;0.31 | &nbsp;&nbsp;1.36 | &nbsp;&nbsp;1.67 | (0.35) | (0.65) | (1.00) | 18.44 | 10.01 | &nbsp;&nbsp;&nbsp;&nbsp;4175 | 0.13 | 0.13 | 1.73 | &nbsp;&nbsp;&nbsp;7 |
| 01/31/25 | 18.44 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;2.57 | &nbsp;&nbsp;2.91 | (0.31) | (0.50) | (0.81) | 20.54 | 15.78 | &nbsp;&nbsp;&nbsp;&nbsp;4438 | 0.13 | 0.13 | 1.71 | &nbsp;&nbsp;&nbsp;9 |
| 07/31/25@ | 20.54 | (0.01) | &nbsp;&nbsp;1.40 | &nbsp;&nbsp;1.39 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 21.93 | 6.77 | &nbsp;&nbsp;&nbsp;&nbsp;4435 | &nbsp;&nbsp;0.13(4) | &nbsp;&nbsp;0.13(4) | (0.13)(4) | &nbsp;&nbsp;&nbsp;5 |
| **SA Global Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Global Index Allocation 90/10 Portfolio — Class 3(3)** |
| 01/31/21 | 15.79 | &nbsp;&nbsp;0.23 | &nbsp;&nbsp;1.90 | &nbsp;&nbsp;2.13 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 17.92 | 13.49 | 208445 | 0.41 | 0.43 | 1.47 | 19 |
| 01/31/22 | 17.92 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;1.71 | &nbsp;&nbsp;1.89 | (0.18) | (0.20) | (0.38) | 19.43 | 10.46 | 309369 | 0.38 | 0.39 | 0.94 | &nbsp;&nbsp;&nbsp;5 |
| 01/31/23 | 19.43 | &nbsp;&nbsp;0.25 | (1.47) | (1.22) | (0.22) | (0.31) | (0.53) | 17.68 | (5.90) | 312721 | 0.38 | 0.38 | 1.44 | &nbsp;&nbsp;&nbsp;8 |
| 01/31/24 | 17.68 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;1.35 | &nbsp;&nbsp;1.62 | (0.31) | (0.65) | (0.96) | 18.34 | 9.75 | 345990 | 0.38 | 0.38 | 1.51 | &nbsp;&nbsp;&nbsp;7 |
| 01/31/25 | 18.34 | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;2.56 | &nbsp;&nbsp;2.85 | (0.27) | (0.50) | (0.77) | 20.42 | 15.51 | 382766 | 0.38 | 0.38 | 1.47 | &nbsp;&nbsp;&nbsp;9 |
| 07/31/25@ | 20.42 | (0.04) | &nbsp;&nbsp;1.39 | &nbsp;&nbsp;1.35 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 21.77 | 6.61 | 392496 | &nbsp;&nbsp;0.38(4) | &nbsp;&nbsp;0.38(4) | (0.38)(4) | &nbsp;&nbsp;&nbsp;5 |
| **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 1** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 1** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 1** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 1** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 1** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 1** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 1** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 1** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 1** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 1** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 1** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 1** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 1** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 1** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 1** |
| 01/31/21 | 10.63 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;1.16 | &nbsp;&nbsp;1.21 | (0.04) | (0.12) | (0.16) | 11.68 | 11.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132 | 1.16 | 0.81 | 0.42 | 164 |
| 01/31/22 | 11.68 | &nbsp;&nbsp;0.07 | &nbsp;&nbsp;1.23 | &nbsp;&nbsp;1.30 | (0.05) | (1.88) | (1.93) | 11.05 | 10.71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146 | 0.98 | 0.81 | 0.57 | 163 |
| 01/31/23 | 11.05 | &nbsp;&nbsp;0.14 | (0.99) | (0.85) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.53) | (0.53) | &nbsp;&nbsp;&nbsp;9.67 | (7.26) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135 | 1.11 | 0.81 | 1.38 | 138 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;9.67 | &nbsp;&nbsp;0.21 | &nbsp;&nbsp;0.86 | &nbsp;&nbsp;1.07 | (0.11) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.11) | 10.63 | 11.22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149 | 1.31 | 0.84 | 2.14 | 146 |
| 01/31/25 | 10.63 | &nbsp;&nbsp;0.21 | &nbsp;&nbsp;1.50 | &nbsp;&nbsp;1.71 | (0.56) | (0.56) | (1.12) | 11.22 | 16.06 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172 | &nbsp;&nbsp;1.12(5) | &nbsp;&nbsp;0.83(5) | 1.80 | 165 |
| 07/31/25@ | 11.22 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;0.60 | &nbsp;&nbsp;0.72 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.94 | 6.42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183 | &nbsp;&nbsp;&nbsp;&nbsp;1.16(4)(6) | &nbsp;&nbsp;&nbsp;&nbsp;0.83(4)(6) | &nbsp;&nbsp;&nbsp;2.05(4) | 79 |
| **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 3** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 3** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 3** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 3** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 3** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 3** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 3** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 3** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 3** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 3** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 3** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 3** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 3** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 3** | **SA Goldman Sachs Multi-Asset Insights Portfolio — Class 3** |
| 01/31/21 | 10.62 | &nbsp;&nbsp;0.02 | &nbsp;&nbsp;1.16 | &nbsp;&nbsp;1.18 | (0.02) | (0.12) | (0.14) | 11.66 | 11.11 | &nbsp;&nbsp;&nbsp;41712 | 1.42 | 1.06 | 0.16 | 164 |
| 01/31/22 | 11.66 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;1.23 | &nbsp;&nbsp;1.27 | (0.03) | (1.88) | (1.91) | 11.02 | 10.43 | &nbsp;&nbsp;&nbsp;38343 | 1.23 | 1.06 | 0.34 | 163 |
| 01/31/23 | 11.02 | &nbsp;&nbsp;0.11 | (0.97) | (0.86) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.53) | (0.53) | &nbsp;&nbsp;&nbsp;9.63 | (7.37) | &nbsp;&nbsp;&nbsp;39021 | 1.36 | 1.07 | 1.14 | 138 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;9.63 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;0.84 | &nbsp;&nbsp;1.03 | (0.09) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.09) | 10.57 | 10.80 | &nbsp;&nbsp;&nbsp;44489 | 1.56 | 1.09 | 1.89 | 146 |
| 01/31/25 | 10.57 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;1.50 | &nbsp;&nbsp;1.68 | (0.51) | (0.56) | (1.07) | 11.18 | 15.86 | &nbsp;&nbsp;&nbsp;50135 | &nbsp;&nbsp;1.37(5) | &nbsp;&nbsp;1.08(5) | 1.55 | 165 |
| 07/31/25@ | 11.18 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;0.60 | &nbsp;&nbsp;0.70 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.88 | 6.26 | &nbsp;&nbsp;&nbsp;50161 | &nbsp;&nbsp;&nbsp;&nbsp;1.41(4)(6) | &nbsp;&nbsp;&nbsp;&nbsp;1.08(4)(6) | &nbsp;&nbsp;&nbsp;1.80(4) | 79 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | The expense ratios do not include underlying fund expenses that the Portfolio bears indirectly. Additionally, recognition of net investment income by the Portfolio is affected by the timing of the declaration of dividends by the underlying investment companies in which the Portfolio invests. Accordingly, the ratio of net investment income does not reflect the proportionate share of income from these funds. |
| (4) | Annualized |
| (5) | Includes interest expense of 0.02% relating to derivative or other investment activity. |
| (6) | Includes interest expense of 0.01% relating to derivative or other investment activity. |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Index Allocation 60/40 Portfolio — Class 1(3)** | **SA Index Allocation 60/40 Portfolio — Class 1(3)** |
| 01/31/21 | $11.96 | $0.41 | $1.14 | $1.55 | $(0.19) | $(0.21) | $(0.40) | $13.11 | 12.98% | $398 | 0.16% | 0.18% | &nbsp;&nbsp;3.21% | 18% |
| 01/31/22 | 13.11 | &nbsp;&nbsp;0.30 | &nbsp;&nbsp;0.91 | &nbsp;&nbsp;1.21 | (0.04) | (0.15) | (0.19) | 14.13 | 9.12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;738 | 0.15 | 0.15 | 2.16 | 12 |
| 01/31/23 | 14.13 | &nbsp;&nbsp;0.02 | (0.98) | (0.96) | (0.20) | (0.45) | (0.65) | 12.52 | (6.38) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326 | 0.14 | 0.14 | 0.15 | 10 |
| 01/31/24 | 12.52 | &nbsp;&nbsp;0.20 | &nbsp;&nbsp;0.99 | &nbsp;&nbsp;1.19 | (0.22) | (0.54) | (0.76) | 12.95 | 10.02 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355 | 0.14 | 0.14 | 1.58 | 8 |
| 01/31/25 | 12.95 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;1.59 | &nbsp;&nbsp;1.85 | (0.20) | (0.44) | (0.64) | 14.16 | 14.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403 | 0.14 | 0.14 | 1.85 | 6 |
| 07/31/25@ | 14.16 | (0.01) | &nbsp;&nbsp;0.61 | &nbsp;&nbsp;0.60 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 14.76 | 4.24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389 | &nbsp;&nbsp;0.14(4) | &nbsp;&nbsp;0.14(4) | (0.14)(4) | 4 |
| **SA Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Index Allocation 60/40 Portfolio — Class 3(3)** | **SA Index Allocation 60/40 Portfolio — Class 3(3)** |
| 01/31/21 | 11.95 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;1.34 | &nbsp;&nbsp;1.51 | (0.16) | (0.21) | (0.37) | 13.09 | 12.69 | 192400 | 0.41 | 0.43 | 1.43 | 18 |
| 01/31/22 | 13.09 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;1.04 | &nbsp;&nbsp;1.18 | (0.01) | (0.15) | (0.16) | 14.11 | 8.95 | 239442 | 0.40 | 0.40 | 1.02 | 12 |
| 01/31/23 | 14.11 | &nbsp;&nbsp;0.15 | (1.14) | (0.99) | (0.17) | (0.45) | (0.62) | 12.50 | (6.62) | 236977 | 0.39 | 0.39 | 1.14 | 10 |
| 01/31/24 | 12.50 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;0.97 | &nbsp;&nbsp;1.14 | (0.18) | (0.54) | (0.72) | 12.92 | 9.69 | 257023 | 0.39 | 0.39 | 1.33 | 8 |
| 01/31/25 | 12.92 | &nbsp;&nbsp;0.21 | &nbsp;&nbsp;1.61 | &nbsp;&nbsp;1.82 | (0.17) | (0.44) | (0.61) | 14.13 | 14.08 | 275167 | 0.39 | 0.39 | 1.52 | 6 |
| 07/31/25@ | 14.13 | (0.03) | &nbsp;&nbsp;0.61 | &nbsp;&nbsp;0.58 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 14.71 | 4.10 | 272904 | &nbsp;&nbsp;0.39(4) | &nbsp;&nbsp;0.39(4) | (0.39)(4) | 4 |
| **SA Index Allocation 80/20 Portfolio — Class 1(3)** | **SA Index Allocation 80/20 Portfolio — Class 1(3)** | **SA Index Allocation 80/20 Portfolio — Class 1(3)** | **SA Index Allocation 80/20 Portfolio — Class 1(3)** | **SA Index Allocation 80/20 Portfolio — Class 1(3)** | **SA Index Allocation 80/20 Portfolio — Class 1(3)** | **SA Index Allocation 80/20 Portfolio — Class 1(3)** | **SA Index Allocation 80/20 Portfolio — Class 1(3)** | **SA Index Allocation 80/20 Portfolio — Class 1(3)** | **SA Index Allocation 80/20 Portfolio — Class 1(3)** | **SA Index Allocation 80/20 Portfolio — Class 1(3)** | **SA Index Allocation 80/20 Portfolio — Class 1(3)** | **SA Index Allocation 80/20 Portfolio — Class 1(3)** | **SA Index Allocation 80/20 Portfolio — Class 1(3)** | **SA Index Allocation 80/20 Portfolio — Class 1(3)** |
| 01/31/21 | 12.31 | &nbsp;&nbsp;0.20 | &nbsp;&nbsp;1.61 | &nbsp;&nbsp;1.81 | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.07) | (0.07) | 14.05 | 14.74 | &nbsp;&nbsp;&nbsp;&nbsp;2361 | 0.13 | 0.13 | 1.61 | 14 |
| 01/31/22 | 14.05 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;1.76 | &nbsp;&nbsp;1.88 | (0.19) | (0.27) | (0.46) | 15.47 | 13.25 | &nbsp;&nbsp;&nbsp;&nbsp;2240 | 0.13 | 0.13 | 0.78 | 8 |
| 01/31/23 | 15.47 | &nbsp;&nbsp;0.15 | (1.17) | (1.02) | (0.23) | (0.45) | (0.68) | 13.77 | (6.17) | &nbsp;&nbsp;&nbsp;&nbsp;2041 | 0.13 | 0.13 | 1.04 | 8 |
| 01/31/24 | 13.77 | &nbsp;&nbsp;0.25 | &nbsp;&nbsp;1.32 | &nbsp;&nbsp;1.57 | (0.25) | (0.69) | (0.94) | 14.40 | 12.16 | &nbsp;&nbsp;&nbsp;&nbsp;3154 | 0.13 | 0.13 | 1.79 | 5 |
| 01/31/25 | 14.40 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;2.33 | &nbsp;&nbsp;2.57 | (0.21) | (0.53) | (0.74) | 16.23 | 17.91 | &nbsp;&nbsp;&nbsp;&nbsp;2990 | 0.12 | 0.12 | 1.50 | 5 |
| 07/31/25@ | 16.23 | (0.01) | &nbsp;&nbsp;0.77 | &nbsp;&nbsp;0.76 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 16.99 | 4.68 | &nbsp;&nbsp;&nbsp;&nbsp;2691 | &nbsp;&nbsp;0.12(4) | &nbsp;&nbsp;0.12(4) | (0.12)(4) | 2 |
| **SA Index Allocation 80/20 Portfolio — Class 3(3)** | **SA Index Allocation 80/20 Portfolio — Class 3(3)** | **SA Index Allocation 80/20 Portfolio — Class 3(3)** | **SA Index Allocation 80/20 Portfolio — Class 3(3)** | **SA Index Allocation 80/20 Portfolio — Class 3(3)** | **SA Index Allocation 80/20 Portfolio — Class 3(3)** | **SA Index Allocation 80/20 Portfolio — Class 3(3)** | **SA Index Allocation 80/20 Portfolio — Class 3(3)** | **SA Index Allocation 80/20 Portfolio — Class 3(3)** | **SA Index Allocation 80/20 Portfolio — Class 3(3)** | **SA Index Allocation 80/20 Portfolio — Class 3(3)** | **SA Index Allocation 80/20 Portfolio — Class 3(3)** | **SA Index Allocation 80/20 Portfolio — Class 3(3)** | **SA Index Allocation 80/20 Portfolio — Class 3(3)** | **SA Index Allocation 80/20 Portfolio — Class 3(3)** |
| 01/31/21 | 12.31 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;1.60 | &nbsp;&nbsp;1.77 | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.07) | (0.07) | 14.01 | 14.41 | 353994 | 0.38 | 0.38 | 1.37 | 14 |
| 01/31/22 | 14.01 | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;1.70 | &nbsp;&nbsp;1.85 | (0.17) | (0.27) | (0.44) | 15.42 | 13.03 | 457921 | 0.38 | 0.38 | 0.95 | 8 |
| 01/31/23 | 15.42 | &nbsp;&nbsp;0.15 | (1.20) | (1.05) | (0.20) | (0.45) | (0.65) | 13.72 | (6.43) | 450620 | 0.38 | 0.38 | 1.12 | 8 |
| 01/31/24 | 13.72 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;1.36 | &nbsp;&nbsp;1.53 | (0.22) | (0.69) | (0.91) | 14.34 | 11.86 | 490613 | 0.38 | 0.38 | 1.25 | 5 |
| 01/31/25 | 14.34 | &nbsp;&nbsp;0.20 | &nbsp;&nbsp;2.32 | &nbsp;&nbsp;2.52 | (0.18) | (0.53) | (0.71) | 16.15 | 17.59 | 529414 | 0.37 | 0.37 | 1.28 | 5 |
| 07/31/25@ | 16.15 | (0.03) | &nbsp;&nbsp;0.76 | &nbsp;&nbsp;0.73 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 16.88 | 4.52 | 526101 | &nbsp;&nbsp;0.37(4) | &nbsp;&nbsp;0.37(4) | (0.37)(4) | 2 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | The expense ratios do not include underlying fund expenses that the Portfolio bears indirectly. Additionally, recognition of net investment income by the Portfolio is affected by the timing of the declaration of dividends by the underlying investment companies in which the Portfolio invests. Accordingly, the ratio of net investment income does not reflect the proportionate share of income from these funds. |
| (4) | Annualized |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Index Allocation 90/10 Portfolio — Class 1(3)** | **SA Index Allocation 90/10 Portfolio — Class 1(3)** |
| 01/31/21 | $12.47 | $0.21 | $1.67 | $1.88 | $— | $(0.07) | $(0.07) | $14.28 | 15.07% | $4493 | 0.12% | &nbsp;&nbsp;1.72% | 15% |
| 01/31/22 | 14.28 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;2.01 | &nbsp;&nbsp;2.20 | (0.19) | (0.27) | (0.46) | 16.02 | 15.23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6573 | 0.11 | 1.19 | 6 |
| 01/31/23 | 16.02 | &nbsp;&nbsp;0.34 | (1.39) | (1.05) | (0.24) | (0.41) | (0.65) | 14.32 | (6.13) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9153 | 0.11 | 2.45 | 6 |
| 01/31/24 | 14.32 | &nbsp;&nbsp;0.07 | &nbsp;&nbsp;1.72 | &nbsp;&nbsp;1.79 | (0.27) | (0.72) | (0.99) | 15.12 | 13.28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8266 | 0.12 | 0.48 | 5 |
| 01/31/25 | 15.12 | &nbsp;&nbsp;0.21 | &nbsp;&nbsp;2.72 | &nbsp;&nbsp;2.93 | (0.22) | (0.57) | (0.79) | 17.26 | 19.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8593 | 0.11 | 1.28 | 4 |
| 07/31/25@ | 17.26 | (0.01) | &nbsp;&nbsp;0.91 | &nbsp;&nbsp;0.90 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 18.16 | 5.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6445 | &nbsp;&nbsp;0.11(4) | (0.11)(4) | 2 |
| **SA Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Index Allocation 90/10 Portfolio — Class 3(3)** | **SA Index Allocation 90/10 Portfolio — Class 3(3)** |
| 01/31/21 | 12.47 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;1.68 | &nbsp;&nbsp;1.85 | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.07) | (0.07) | 14.25 | 14.83 | &nbsp;&nbsp;&nbsp;923121 | 0.37 | 1.37 | 15 |
| 01/31/22 | 14.25 | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;2.01 | &nbsp;&nbsp;2.16 | (0.17) | (0.27) | (0.44) | 15.97 | 14.94 | 1219687 | 0.36 | 0.94 | 6 |
| 01/31/23 | 15.97 | &nbsp;&nbsp;0.16 | (1.24) | (1.08) | (0.21) | (0.41) | (0.62) | 14.27 | (6.40) | 1198066 | 0.36 | 1.15 | 6 |
| 01/31/24 | 14.27 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;1.57 | &nbsp;&nbsp;1.75 | (0.24) | (0.72) | (0.96) | 15.06 | 12.98 | 1330038 | 0.37 | 1.26 | 5 |
| 01/31/25 | 15.06 | &nbsp;&nbsp;0.20 | &nbsp;&nbsp;2.68 | &nbsp;&nbsp;2.88 | (0.19) | (0.57) | (0.76) | 17.18 | 19.09 | 1482257 | 0.36 | 1.21 | 4 |
| 07/31/25@ | 17.18 | (0.03) | &nbsp;&nbsp;0.91 | &nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 18.06 | 5.12 | 1482900 | &nbsp;&nbsp;0.36(4) | (0.36)(4) | 2 |
| **SA International Index Portfolio — Class 1** | **SA International Index Portfolio — Class 1** | **SA International Index Portfolio — Class 1** | **SA International Index Portfolio — Class 1** | **SA International Index Portfolio — Class 1** | **SA International Index Portfolio — Class 1** | **SA International Index Portfolio — Class 1** | **SA International Index Portfolio — Class 1** | **SA International Index Portfolio — Class 1** | **SA International Index Portfolio — Class 1** | **SA International Index Portfolio — Class 1** | **SA International Index Portfolio — Class 1** | **SA International Index Portfolio — Class 1** | **SA International Index Portfolio — Class 1** |
| 01/31/21 | 11.41 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;0.83 | &nbsp;&nbsp;1.02 | (0.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.24) | 12.19 | 9.08 | &nbsp;&nbsp;&nbsp;631310 | 0.51 | 1.77 | 9 |
| 01/31/22 | 12.19 | &nbsp;&nbsp;0.28 | &nbsp;&nbsp;0.67 | &nbsp;&nbsp;0.95 | (0.18) | (0.03) | (0.21) | 12.93 | 7.73 | &nbsp;&nbsp;&nbsp;741330 | 0.48 | 2.14 | 8 |
| 01/31/23 | 12.93 | &nbsp;&nbsp;0.30 | (0.83) | (0.53) | (0.29) | (0.03) | (0.32) | 12.08 | (3.60) | &nbsp;&nbsp;&nbsp;714852 | 0.50 | 2.64 | 4 |
| 01/31/24 | 12.08 | &nbsp;&nbsp;0.31 | &nbsp;&nbsp;0.62 | &nbsp;&nbsp;0.93 | (0.30) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.30) | 12.71 | 7.98 | &nbsp;&nbsp;&nbsp;711797 | 0.49 | 2.54 | 4 |
| 01/31/25 | 12.71 | &nbsp;&nbsp;0.32 | &nbsp;&nbsp;0.77 | &nbsp;&nbsp;1.09 | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.35) | 13.45 | 8.61 | &nbsp;&nbsp;&nbsp;794261 | 0.48 | 2.40 | 9 |
| 07/31/25@ | 13.45 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;1.41 | &nbsp;&nbsp;1.65 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 15.10 | 12.27 | &nbsp;&nbsp;&nbsp;930355 | &nbsp;&nbsp;0.47(4) | &nbsp;&nbsp;&nbsp;3.36(4) | 11 |
| **SA International Index Portfolio — Class 3** | **SA International Index Portfolio — Class 3** | **SA International Index Portfolio — Class 3** | **SA International Index Portfolio — Class 3** | **SA International Index Portfolio — Class 3** | **SA International Index Portfolio — Class 3** | **SA International Index Portfolio — Class 3** | **SA International Index Portfolio — Class 3** | **SA International Index Portfolio — Class 3** | **SA International Index Portfolio — Class 3** | **SA International Index Portfolio — Class 3** | **SA International Index Portfolio — Class 3** | **SA International Index Portfolio — Class 3** | **SA International Index Portfolio — Class 3** |
| 01/31/21 | 11.38 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;0.85 | &nbsp;&nbsp;0.99 | (0.23) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.23) | 12.14 | 8.85 | &nbsp;&nbsp;&nbsp;&nbsp;10671 | 0.77 | 1.30 | 9 |
| 01/31/22 | 12.14 | &nbsp;&nbsp;0.23 | &nbsp;&nbsp;0.68 | &nbsp;&nbsp;0.91 | (0.17) | (0.03) | (0.20) | 12.85 | 7.41 | &nbsp;&nbsp;&nbsp;&nbsp;18379 | 0.73 | 1.78 | 8 |
| 01/31/23 | 12.85 | &nbsp;&nbsp;0.25 | (0.80) | (0.55) | (0.28) | (0.03) | (0.31) | 11.99 | (3.88) | &nbsp;&nbsp;&nbsp;&nbsp;23620 | 0.75 | 2.27 | 4 |
| 01/31/24 | 11.99 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;0.64 | &nbsp;&nbsp;0.91 | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | 12.62 | 7.83 | &nbsp;&nbsp;&nbsp;&nbsp;28507 | 0.74 | 2.20 | 4 |
| 01/31/25 | 12.62 | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;0.76 | &nbsp;&nbsp;1.05 | (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.33) | 13.34 | 8.29 | &nbsp;&nbsp;&nbsp;&nbsp;33971 | 0.73 | 2.15 | 9 |
| 07/31/25@ | 13.34 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;1.39 | &nbsp;&nbsp;1.61 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 14.95 | 12.07 | &nbsp;&nbsp;&nbsp;&nbsp;36242 | &nbsp;&nbsp;0.72(4) | &nbsp;&nbsp;&nbsp;3.11(4) | 11 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | The expense ratios do not include underlying fund expenses that the Portfolio bears indirectly. Additionally, recognition of net investment income by the Portfolio is affected by the timing of the declaration of dividends by the underlying investment companies in which the Portfolio invests. Accordingly, the ratio of net investment income does not reflect the proportionate share of income from these funds. |
| (4) | Annualized |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA Invesco Growth Opportunities Portfolio — Class 1** | **SA Invesco Growth Opportunities Portfolio — Class 1** | **SA Invesco Growth Opportunities Portfolio — Class 1** | **SA Invesco Growth Opportunities Portfolio — Class 1** | **SA Invesco Growth Opportunities Portfolio — Class 1** | **SA Invesco Growth Opportunities Portfolio — Class 1** | **SA Invesco Growth Opportunities Portfolio — Class 1** | **SA Invesco Growth Opportunities Portfolio — Class 1** | **SA Invesco Growth Opportunities Portfolio — Class 1** | **SA Invesco Growth Opportunities Portfolio — Class 1** | **SA Invesco Growth Opportunities Portfolio — Class 1** | **SA Invesco Growth Opportunities Portfolio — Class 1** | **SA Invesco Growth Opportunities Portfolio — Class 1** | **SA Invesco Growth Opportunities Portfolio — Class 1** |
| 01/31/21 | $8.76 | $(0.06) | $4.98 | $4.92 | $— | $(1.31) | $12.37 | &nbsp;&nbsp;58.68% | $215397 | 0.79% | 0.79% | (0.57)% | 58% |
| 01/31/22 | 12.37 | (0.08) | (1.07) | (1.15) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.51) | &nbsp;&nbsp;&nbsp;9.71 | (12.13) | 152667 | 0.78 | 0.78 | (0.60) | 39 |
| 01/31/23 | &nbsp;&nbsp;&nbsp;9.71 | (0.02) | (1.75) | (1.77) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.96) | &nbsp;&nbsp;&nbsp;5.98 | (16.20) | 110756 | 0.80 | 0.80 | (0.22) | 58 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;5.98 | (0.02) | &nbsp;&nbsp;0.20 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;6.16 | &nbsp;&nbsp;3.01 | 136790 | 0.81 | 0.81 | (0.30) | 68 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;6.16 | (0.03) | &nbsp;&nbsp;1.34 | &nbsp;&nbsp;1.31 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;7.47 | 21.27 | 140439 | 0.80 | 0.80 | (0.39) | 55 |
| 07/31/25@ | &nbsp;&nbsp;&nbsp;7.47 | (0.01) | (0.31) | (0.32) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;7.15 | (4.28) | 133528 | &nbsp;&nbsp;0.82(3) | &nbsp;&nbsp;0.82(3) | (0.37)(3) | 58 |
| **SA Invesco Growth Opportunities Portfolio — Class 2** | **SA Invesco Growth Opportunities Portfolio — Class 2** | **SA Invesco Growth Opportunities Portfolio — Class 2** | **SA Invesco Growth Opportunities Portfolio — Class 2** | **SA Invesco Growth Opportunities Portfolio — Class 2** | **SA Invesco Growth Opportunities Portfolio — Class 2** | **SA Invesco Growth Opportunities Portfolio — Class 2** | **SA Invesco Growth Opportunities Portfolio — Class 2** | **SA Invesco Growth Opportunities Portfolio — Class 2** | **SA Invesco Growth Opportunities Portfolio — Class 2** | **SA Invesco Growth Opportunities Portfolio — Class 2** | **SA Invesco Growth Opportunities Portfolio — Class 2** | **SA Invesco Growth Opportunities Portfolio — Class 2** | **SA Invesco Growth Opportunities Portfolio — Class 2** |
| 01/31/21 | &nbsp;&nbsp;&nbsp;8.30 | (0.07) | &nbsp;&nbsp;4.70 | &nbsp;&nbsp;4.63 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.31) | 11.62 | 58.43 | &nbsp;&nbsp;&nbsp;&nbsp;4119 | 0.94 | 0.94 | (0.72) | 58 |
| 01/31/22 | 11.62 | (0.09) | (0.98) | (1.07) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.51) | &nbsp;&nbsp;&nbsp;9.04 | (12.22) | &nbsp;&nbsp;&nbsp;&nbsp;3126 | 0.93 | 0.93 | (0.75) | 39 |
| 01/31/23 | &nbsp;&nbsp;&nbsp;9.04 | (0.03) | (1.64) | (1.67) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.96) | &nbsp;&nbsp;&nbsp;5.41 | (16.29) | &nbsp;&nbsp;&nbsp;&nbsp;2505 | 0.95 | 0.95 | (0.37) | 58 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;5.41 | (0.02) | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;5.55 | &nbsp;&nbsp;2.59 | &nbsp;&nbsp;&nbsp;&nbsp;2413 | 0.97 | 0.97 | (0.44) | 68 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;5.55 | (0.03) | &nbsp;&nbsp;1.21 | &nbsp;&nbsp;1.18 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;6.73 | 21.26 | &nbsp;&nbsp;&nbsp;&nbsp;2405 | 0.95 | 0.95 | (0.54) | 55 |
| 07/31/25@ | &nbsp;&nbsp;&nbsp;6.73 | (0.02) | (0.27) | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;6.44 | (4.31) | &nbsp;&nbsp;&nbsp;&nbsp;2014 | &nbsp;&nbsp;0.97(3) | &nbsp;&nbsp;0.97(3) | (0.51)(3) | 58 |
| **SA Invesco Growth Opportunities Portfolio — Class 3** | **SA Invesco Growth Opportunities Portfolio — Class 3** | **SA Invesco Growth Opportunities Portfolio — Class 3** | **SA Invesco Growth Opportunities Portfolio — Class 3** | **SA Invesco Growth Opportunities Portfolio — Class 3** | **SA Invesco Growth Opportunities Portfolio — Class 3** | **SA Invesco Growth Opportunities Portfolio — Class 3** | **SA Invesco Growth Opportunities Portfolio — Class 3** | **SA Invesco Growth Opportunities Portfolio — Class 3** | **SA Invesco Growth Opportunities Portfolio — Class 3** | **SA Invesco Growth Opportunities Portfolio — Class 3** | **SA Invesco Growth Opportunities Portfolio — Class 3** | **SA Invesco Growth Opportunities Portfolio — Class 3** | **SA Invesco Growth Opportunities Portfolio — Class 3** |
| 01/31/21 | &nbsp;&nbsp;&nbsp;8.03 | (0.07) | &nbsp;&nbsp;4.53 | &nbsp;&nbsp;4.46 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.31) | 11.18 | 58.28 | 162516 | 1.04 | 1.04 | (0.81) | 58 |
| 01/31/22 | 11.18 | (0.10) | (0.93) | (1.03) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.51) | &nbsp;&nbsp;&nbsp;8.64 | (12.34) | 149304 | 1.03 | 1.03 | (0.85) | 39 |
| 01/31/23 | &nbsp;&nbsp;&nbsp;8.64 | (0.03) | (1.58) | (1.61) | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.96) | &nbsp;&nbsp;&nbsp;5.07 | (16.34) | 145543 | 1.05 | 1.05 | (0.47) | 58 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;5.07 | (0.03) | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;0.13 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;5.20 | &nbsp;&nbsp;2.56 | 143182 | 1.07 | 1.07 | (0.54) | 68 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;5.20 | (0.04) | &nbsp;&nbsp;1.13 | &nbsp;&nbsp;1.09 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;6.29 | 20.96 | 150564 | 1.05 | 1.05 | (0.64) | 55 |
| 07/31/25@ | &nbsp;&nbsp;&nbsp;6.29 | (0.02) | (0.25) | (0.27) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;6.02 | (4.29) | 146293 | &nbsp;&nbsp;1.07(3) | &nbsp;&nbsp;1.07(3) | (0.62)(3) | 58 |
| **SA Janus Focused Growth Portfolio — Class 1** | **SA Janus Focused Growth Portfolio — Class 1** | **SA Janus Focused Growth Portfolio — Class 1** | **SA Janus Focused Growth Portfolio — Class 1** | **SA Janus Focused Growth Portfolio — Class 1** | **SA Janus Focused Growth Portfolio — Class 1** | **SA Janus Focused Growth Portfolio — Class 1** | **SA Janus Focused Growth Portfolio — Class 1** | **SA Janus Focused Growth Portfolio — Class 1** | **SA Janus Focused Growth Portfolio — Class 1** | **SA Janus Focused Growth Portfolio — Class 1** | **SA Janus Focused Growth Portfolio — Class 1** | **SA Janus Focused Growth Portfolio — Class 1** | **SA Janus Focused Growth Portfolio — Class 1** |
| 01/31/21 | 16.93 | (0.02) | &nbsp;&nbsp;5.49 | &nbsp;&nbsp;5.47 | (0.01) | (1.41) | 20.99 | 32.65 | 348913 | 0.88 | 0.78 | (0.12) | 42 |
| 01/31/22 | 20.99 | (0.06) | &nbsp;&nbsp;3.21 | &nbsp;&nbsp;3.15 | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.42) | 21.72 | 13.57 | 344771 | 0.88 | 0.78 | (0.26) | 35 |
| 01/31/23 | 21.72 | &nbsp;&nbsp;0.01 | (4.97) | (4.96) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.75) | 13.01 | (20.35) | 251886 | 0.89 | 0.79 | 0.08 | 46 |
| 01/31/24 | 13.01 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;4.32 | &nbsp;&nbsp;4.33 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 17.34 | 33.28 | 255612 | 0.90 | 0.80 | 0.08 | 32 |
| 01/31/25 | 17.34 | (0.02) | &nbsp;&nbsp;4.77 | &nbsp;&nbsp;4.75 | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.92) | 21.17 | 27.42 | 246625 | 0.89 | 0.79 | (0.08) | 36 |
| 07/31/25@ | 21.17 | (0.01) | &nbsp;&nbsp;2.26 | &nbsp;&nbsp;2.25 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 23.42 | 10.63 | 314821 | &nbsp;&nbsp;0.90(3) | &nbsp;&nbsp;0.80(3) | (0.13)(3) | 22 |
| **SA Janus Focused Growth Portfolio — Class 2** | **SA Janus Focused Growth Portfolio — Class 2** | **SA Janus Focused Growth Portfolio — Class 2** | **SA Janus Focused Growth Portfolio — Class 2** | **SA Janus Focused Growth Portfolio — Class 2** | **SA Janus Focused Growth Portfolio — Class 2** | **SA Janus Focused Growth Portfolio — Class 2** | **SA Janus Focused Growth Portfolio — Class 2** | **SA Janus Focused Growth Portfolio — Class 2** | **SA Janus Focused Growth Portfolio — Class 2** | **SA Janus Focused Growth Portfolio — Class 2** | **SA Janus Focused Growth Portfolio — Class 2** | **SA Janus Focused Growth Portfolio — Class 2** | **SA Janus Focused Growth Portfolio — Class 2** |
| 01/31/21 | 16.48 | (0.05) | &nbsp;&nbsp;5.34 | &nbsp;&nbsp;5.29 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.40) | 20.37 | 32.42 | &nbsp;&nbsp;&nbsp;10602 | 1.03 | 0.93 | (0.27) | 42 |
| 01/31/22 | 20.37 | (0.10) | &nbsp;&nbsp;3.13 | &nbsp;&nbsp;3.03 | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.42) | 20.98 | 13.39 | &nbsp;&nbsp;&nbsp;10260 | 1.03 | 0.93 | (0.41) | 35 |
| 01/31/23 | 20.98 | (0.01) | (4.82) | (4.83) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.75) | 12.40 | (20.45) | &nbsp;&nbsp;&nbsp;&nbsp;6874 | 1.04 | 0.94 | (0.07) | 46 |
| 01/31/24 | 12.40 | (0.01) | &nbsp;&nbsp;4.11 | &nbsp;&nbsp;4.10 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 16.50 | 33.06 | &nbsp;&nbsp;&nbsp;&nbsp;8019 | 1.05 | 0.95 | (0.08) | 32 |
| 01/31/25 | 16.50 | (0.04) | &nbsp;&nbsp;4.52 | &nbsp;&nbsp;4.48 | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.92) | 20.06 | 27.17 | &nbsp;&nbsp;&nbsp;&nbsp;8594 | 1.04 | 0.94 | (0.23) | 36 |
| 07/31/25@ | 20.06 | (0.03) | &nbsp;&nbsp;2.16 | &nbsp;&nbsp;2.13 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 22.19 | 10.62 | &nbsp;&nbsp;&nbsp;&nbsp;8459 | &nbsp;&nbsp;1.05(3) | &nbsp;&nbsp;0.95(3) | (0.27)(3) | 22 |
| **SA Janus Focused Growth Portfolio — Class 3** | **SA Janus Focused Growth Portfolio — Class 3** | **SA Janus Focused Growth Portfolio — Class 3** | **SA Janus Focused Growth Portfolio — Class 3** | **SA Janus Focused Growth Portfolio — Class 3** | **SA Janus Focused Growth Portfolio — Class 3** | **SA Janus Focused Growth Portfolio — Class 3** | **SA Janus Focused Growth Portfolio — Class 3** | **SA Janus Focused Growth Portfolio — Class 3** | **SA Janus Focused Growth Portfolio — Class 3** | **SA Janus Focused Growth Portfolio — Class 3** | **SA Janus Focused Growth Portfolio — Class 3** | **SA Janus Focused Growth Portfolio — Class 3** | **SA Janus Focused Growth Portfolio — Class 3** |
| 01/31/21 | 16.15 | (0.07) | &nbsp;&nbsp;5.24 | &nbsp;&nbsp;5.17 | &nbsp;&nbsp;&nbsp;&nbsp;— | (1.40) | 19.92 | 32.34 | 162352 | 1.13 | 1.03 | (0.37) | 42 |
| 01/31/22 | 19.92 | (0.12) | &nbsp;&nbsp;3.06 | &nbsp;&nbsp;2.94 | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.42) | 20.44 | 13.24 | 176685 | 1.13 | 1.03 | (0.51) | 35 |
| 01/31/23 | 20.44 | (0.02) | (4.71) | (4.73) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.75) | 11.96 | (20.51) | 152452 | 1.14 | 1.04 | (0.16) | 46 |
| 01/31/24 | 11.96 | (0.02) | &nbsp;&nbsp;3.95 | &nbsp;&nbsp;3.93 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 15.89 | 32.86 | 174238 | 1.15 | 1.05 | (0.18) | 32 |
| 01/31/25 | 15.89 | (0.06) | &nbsp;&nbsp;4.37 | &nbsp;&nbsp;4.31 | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.92) | 19.28 | 27.15 | 190941 | 1.14 | 1.04 | (0.33) | 36 |
| 07/31/25@ | 19.28 | (0.03) | &nbsp;&nbsp;2.05 | &nbsp;&nbsp;2.02 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 21.30 | 10.48 | 199670 | &nbsp;&nbsp;1.15(3) | &nbsp;&nbsp;1.05(3) | (0.37)(3) | 22 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | Annualized |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA JPMorgan Diversified Balanced Portfolio — Class 1** | **SA JPMorgan Diversified Balanced Portfolio — Class 1** | **SA JPMorgan Diversified Balanced Portfolio — Class 1** | **SA JPMorgan Diversified Balanced Portfolio — Class 1** | **SA JPMorgan Diversified Balanced Portfolio — Class 1** | **SA JPMorgan Diversified Balanced Portfolio — Class 1** | **SA JPMorgan Diversified Balanced Portfolio — Class 1** | **SA JPMorgan Diversified Balanced Portfolio — Class 1** | **SA JPMorgan Diversified Balanced Portfolio — Class 1** | **SA JPMorgan Diversified Balanced Portfolio — Class 1** | **SA JPMorgan Diversified Balanced Portfolio — Class 1** | **SA JPMorgan Diversified Balanced Portfolio — Class 1** | **SA JPMorgan Diversified Balanced Portfolio — Class 1** | **SA JPMorgan Diversified Balanced Portfolio — Class 1** | **SA JPMorgan Diversified Balanced Portfolio — Class 1** |
| 01/31/21 | $19.05 | $0.25 | $2.42 | $2.67 | $(0.43) | $(0.51) | $(0.94) | $20.78 | &nbsp;&nbsp;14.25% | $74003 | 0.85% | 0.79% | 1.32% | 114% |
| 01/31/22 | 20.78 | 0.25 | &nbsp;&nbsp;1.49 | &nbsp;&nbsp;&nbsp;&nbsp;1.74(3) | (0.15) | (1.05) | (1.20) | 21.32 | &nbsp;&nbsp;8.18 | 165419 | 0.72 | 0.70 | 1.17 | &nbsp;&nbsp;109(4) |
| 01/31/23 | 21.32 | 0.31 | (2.34) | (2.03) | (0.23) | (2.57) | (2.80) | 16.49 | (8.27) | 132303 | 0.71 | 0.71 | 1.68 | 73 |
| 01/31/24 | 16.49 | 0.33 | &nbsp;&nbsp;1.26 | &nbsp;&nbsp;1.59 | (0.27) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.27) | 17.81 | &nbsp;&nbsp;9.81 | 127180 | 0.72 | 0.72 | 1.97 | 74 |
| 01/31/25 | 17.81 | 0.40 | &nbsp;&nbsp;1.74 | &nbsp;&nbsp;2.14 | (0.34) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.34) | 19.61 | &nbsp;&nbsp;&nbsp;12.03(5) | 122727 | 0.72 | 0.69 | 2.12 | 65 |
| 07/31/25@ | 19.61 | 0.23 | &nbsp;&nbsp;0.67 | &nbsp;&nbsp;0.90 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 20.51 | &nbsp;&nbsp;4.59 | 121541 | &nbsp;&nbsp;0.73(6) | &nbsp;&nbsp;0.71(6) | &nbsp;&nbsp;2.33(6) | 31 |
| **SA JPMorgan Diversified Balanced Portfolio — Class 2** | **SA JPMorgan Diversified Balanced Portfolio — Class 2** | **SA JPMorgan Diversified Balanced Portfolio — Class 2** | **SA JPMorgan Diversified Balanced Portfolio — Class 2** | **SA JPMorgan Diversified Balanced Portfolio — Class 2** | **SA JPMorgan Diversified Balanced Portfolio — Class 2** | **SA JPMorgan Diversified Balanced Portfolio — Class 2** | **SA JPMorgan Diversified Balanced Portfolio — Class 2** | **SA JPMorgan Diversified Balanced Portfolio — Class 2** | **SA JPMorgan Diversified Balanced Portfolio — Class 2** | **SA JPMorgan Diversified Balanced Portfolio — Class 2** | **SA JPMorgan Diversified Balanced Portfolio — Class 2** | **SA JPMorgan Diversified Balanced Portfolio — Class 2** | **SA JPMorgan Diversified Balanced Portfolio — Class 2** | **SA JPMorgan Diversified Balanced Portfolio — Class 2** |
| 01/31/21 | 19.01 | 0.22 | &nbsp;&nbsp;2.41 | &nbsp;&nbsp;2.63 | (0.40) | (0.51) | (0.91) | 20.73 | 14.06 | &nbsp;&nbsp;&nbsp;11545 | 1.00 | 0.94 | 1.15 | 114 |
| 01/31/22 | 20.73 | 0.23 | &nbsp;&nbsp;1.48 | &nbsp;&nbsp;&nbsp;&nbsp;1.71(3) | (0.14) | (1.05) | (1.19) | 21.25 | &nbsp;&nbsp;8.02 | &nbsp;&nbsp;&nbsp;21160 | 0.86 | 0.84 | 1.04 | &nbsp;&nbsp;109(4) |
| 01/31/23 | 21.25 | 0.28 | (2.34) | (2.06) | (0.20) | (2.57) | (2.77) | 16.42 | (8.41) | &nbsp;&nbsp;&nbsp;18480 | 0.86 | 0.86 | 1.53 | 73 |
| 01/31/24 | 16.42 | 0.30 | &nbsp;&nbsp;1.26 | &nbsp;&nbsp;1.56 | (0.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.24) | 17.74 | &nbsp;&nbsp;9.67 | &nbsp;&nbsp;&nbsp;17952 | 0.87 | 0.87 | 1.82 | 74 |
| 01/31/25 | 17.74 | 0.37 | &nbsp;&nbsp;1.73 | &nbsp;&nbsp;2.10 | (0.31) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.31) | 19.53 | &nbsp;&nbsp;&nbsp;11.86(5) | &nbsp;&nbsp;&nbsp;17634 | 0.87 | 0.84 | 1.97 | 65 |
| 07/31/25@ | 19.53 | 0.21 | &nbsp;&nbsp;0.66 | &nbsp;&nbsp;0.87 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 20.40 | &nbsp;&nbsp;4.45 | &nbsp;&nbsp;&nbsp;16620 | &nbsp;&nbsp;0.88(6) | &nbsp;&nbsp;0.86(6) | &nbsp;&nbsp;2.18(6) | 31 |
| **SA JPMorgan Diversified Balanced Portfolio — Class 3** | **SA JPMorgan Diversified Balanced Portfolio — Class 3** | **SA JPMorgan Diversified Balanced Portfolio — Class 3** | **SA JPMorgan Diversified Balanced Portfolio — Class 3** | **SA JPMorgan Diversified Balanced Portfolio — Class 3** | **SA JPMorgan Diversified Balanced Portfolio — Class 3** | **SA JPMorgan Diversified Balanced Portfolio — Class 3** | **SA JPMorgan Diversified Balanced Portfolio — Class 3** | **SA JPMorgan Diversified Balanced Portfolio — Class 3** | **SA JPMorgan Diversified Balanced Portfolio — Class 3** | **SA JPMorgan Diversified Balanced Portfolio — Class 3** | **SA JPMorgan Diversified Balanced Portfolio — Class 3** | **SA JPMorgan Diversified Balanced Portfolio — Class 3** | **SA JPMorgan Diversified Balanced Portfolio — Class 3** | **SA JPMorgan Diversified Balanced Portfolio — Class 3** |
| 01/31/21 | 18.90 | 0.20 | &nbsp;&nbsp;2.41 | &nbsp;&nbsp;2.61 | (0.39) | (0.51) | (0.90) | 20.61 | 14.00 | 227445 | 1.10 | 1.04 | 1.05 | 114 |
| 01/31/22 | 20.61 | 0.21 | &nbsp;&nbsp;1.47 | &nbsp;&nbsp;&nbsp;&nbsp;1.68(3) | (0.12) | (1.05) | (1.17) | 21.12 | &nbsp;&nbsp;7.93 | 321115 | 0.96 | 0.94 | 0.97 | &nbsp;&nbsp;109(4) |
| 01/31/23 | 21.12 | 0.26 | (2.33) | (2.07) | (0.18) | (2.57) | (2.75) | 16.30 | (8.53) | 288124 | 0.96 | 0.96 | 1.43 | 73 |
| 01/31/24 | 16.30 | 0.28 | &nbsp;&nbsp;1.26 | &nbsp;&nbsp;1.54 | (0.23) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.23) | 17.61 | &nbsp;&nbsp;9.57 | 294516 | 0.97 | 0.97 | 1.72 | 74 |
| 01/31/25 | 17.61 | 0.35 | &nbsp;&nbsp;1.72 | &nbsp;&nbsp;2.07 | (0.30) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.30) | 19.38 | &nbsp;&nbsp;&nbsp;11.73(5) | 298145 | 0.97 | 0.94 | 1.87 | 65 |
| 07/31/25@ | 19.38 | 0.20 | &nbsp;&nbsp;0.66 | &nbsp;&nbsp;0.86 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 20.24 | &nbsp;&nbsp;4.44 | 290628 | &nbsp;&nbsp;0.98(6) | &nbsp;&nbsp;0.96(6) | &nbsp;&nbsp;2.08(6) | 31 |
| **SA JPMorgan Emerging Markets Portfolio — Class 1** | **SA JPMorgan Emerging Markets Portfolio — Class 1** | **SA JPMorgan Emerging Markets Portfolio — Class 1** | **SA JPMorgan Emerging Markets Portfolio — Class 1** | **SA JPMorgan Emerging Markets Portfolio — Class 1** | **SA JPMorgan Emerging Markets Portfolio — Class 1** | **SA JPMorgan Emerging Markets Portfolio — Class 1** | **SA JPMorgan Emerging Markets Portfolio — Class 1** | **SA JPMorgan Emerging Markets Portfolio — Class 1** | **SA JPMorgan Emerging Markets Portfolio — Class 1** | **SA JPMorgan Emerging Markets Portfolio — Class 1** | **SA JPMorgan Emerging Markets Portfolio — Class 1** | **SA JPMorgan Emerging Markets Portfolio — Class 1** | **SA JPMorgan Emerging Markets Portfolio — Class 1** | **SA JPMorgan Emerging Markets Portfolio — Class 1** |
| 01/31/21 | &nbsp;&nbsp;&nbsp;8.08 | 0.11 | &nbsp;&nbsp;2.15 | &nbsp;&nbsp;2.26 | (0.16) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.16) | 10.18 | &nbsp;&nbsp;&nbsp;28.27(7) | 107020 | 1.19 | 1.07 | 1.31 | 74 |
| 01/31/22 | 10.18 | 0.24 | (0.58) | (0.34) | (0.18) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.18) | &nbsp;&nbsp;&nbsp;9.66 | (3.39) | &nbsp;&nbsp;&nbsp;88201 | 1.25 | 1.14 | 2.35 | 64 |
| 01/31/23 | &nbsp;&nbsp;&nbsp;9.66 | 0.26 | (2.05) | (1.79) | (0.23) | (0.06) | (0.29) | &nbsp;&nbsp;&nbsp;7.58 | (18.05) | &nbsp;&nbsp;&nbsp;72415 | 1.28 | 1.16 | 3.35 | 66 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;7.58 | 0.16 | (0.33) | (0.17) | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | &nbsp;&nbsp;&nbsp;7.12 | (2.03) | &nbsp;&nbsp;&nbsp;67353 | 1.31 | 1.18 | 2.17 | 68 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;7.12 | 0.19 | &nbsp;&nbsp;1.09 | &nbsp;&nbsp;1.28 | (0.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.24) | &nbsp;&nbsp;&nbsp;8.16 | 17.97 | &nbsp;&nbsp;&nbsp;64136 | 1.33 | 1.21 | 2.35 | 64 |
| 07/31/25@ | &nbsp;&nbsp;&nbsp;8.16 | 0.14 | &nbsp;&nbsp;1.16 | &nbsp;&nbsp;1.30 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;9.46 | 15.93 | &nbsp;&nbsp;&nbsp;74828 | &nbsp;&nbsp;1.33(6) | &nbsp;&nbsp;1.20(6) | &nbsp;&nbsp;3.18(6) | 41 |
| **SA JPMorgan Emerging Markets Portfolio — Class 2** | **SA JPMorgan Emerging Markets Portfolio — Class 2** | **SA JPMorgan Emerging Markets Portfolio — Class 2** | **SA JPMorgan Emerging Markets Portfolio — Class 2** | **SA JPMorgan Emerging Markets Portfolio — Class 2** | **SA JPMorgan Emerging Markets Portfolio — Class 2** | **SA JPMorgan Emerging Markets Portfolio — Class 2** | **SA JPMorgan Emerging Markets Portfolio — Class 2** | **SA JPMorgan Emerging Markets Portfolio — Class 2** | **SA JPMorgan Emerging Markets Portfolio — Class 2** | **SA JPMorgan Emerging Markets Portfolio — Class 2** | **SA JPMorgan Emerging Markets Portfolio — Class 2** | **SA JPMorgan Emerging Markets Portfolio — Class 2** | **SA JPMorgan Emerging Markets Portfolio — Class 2** | **SA JPMorgan Emerging Markets Portfolio — Class 2** |
| 01/31/21 | &nbsp;&nbsp;&nbsp;8.04 | 0.10 | &nbsp;&nbsp;2.14 | &nbsp;&nbsp;2.24 | (0.15) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.15) | 10.13 | &nbsp;&nbsp;&nbsp;28.09(7) | &nbsp;&nbsp;&nbsp;&nbsp;3371 | 1.34 | 1.22 | 1.15 | 74 |
| 01/31/22 | 10.13 | 0.22 | (0.57) | (0.35) | (0.17) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.17) | &nbsp;&nbsp;&nbsp;9.61 | (3.53) | &nbsp;&nbsp;&nbsp;&nbsp;3141 | 1.40 | 1.29 | 2.09 | 64 |
| 01/31/23 | &nbsp;&nbsp;&nbsp;9.61 | 0.23 | (2.02) | (1.79) | (0.21) | (0.06) | (0.27) | &nbsp;&nbsp;&nbsp;7.55 | (18.14) | &nbsp;&nbsp;&nbsp;&nbsp;2426 | 1.43 | 1.31 | 3.01 | 66 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;7.55 | 0.15 | (0.33) | (0.18) | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | &nbsp;&nbsp;&nbsp;7.09 | (2.21) | &nbsp;&nbsp;&nbsp;&nbsp;2111 | 1.46 | 1.33 | 2.04 | 68 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;7.09 | 0.18 | &nbsp;&nbsp;1.08 | &nbsp;&nbsp;1.26 | (0.23) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.23) | &nbsp;&nbsp;&nbsp;8.12 | 17.72 | &nbsp;&nbsp;&nbsp;&nbsp;2119 | 1.48 | 1.36 | 2.19 | 64 |
| 07/31/25@ | &nbsp;&nbsp;&nbsp;8.12 | 0.13 | &nbsp;&nbsp;1.17 | &nbsp;&nbsp;1.30 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;9.42 | 16.01 | &nbsp;&nbsp;&nbsp;&nbsp;2339 | &nbsp;&nbsp;1.48(6) | &nbsp;&nbsp;1.35(6) | &nbsp;&nbsp;3.00(6) | 41 |
| **SA JPMorgan Emerging Markets Portfolio — Class 3** | **SA JPMorgan Emerging Markets Portfolio — Class 3** | **SA JPMorgan Emerging Markets Portfolio — Class 3** | **SA JPMorgan Emerging Markets Portfolio — Class 3** | **SA JPMorgan Emerging Markets Portfolio — Class 3** | **SA JPMorgan Emerging Markets Portfolio — Class 3** | **SA JPMorgan Emerging Markets Portfolio — Class 3** | **SA JPMorgan Emerging Markets Portfolio — Class 3** | **SA JPMorgan Emerging Markets Portfolio — Class 3** | **SA JPMorgan Emerging Markets Portfolio — Class 3** | **SA JPMorgan Emerging Markets Portfolio — Class 3** | **SA JPMorgan Emerging Markets Portfolio — Class 3** | **SA JPMorgan Emerging Markets Portfolio — Class 3** | **SA JPMorgan Emerging Markets Portfolio — Class 3** | **SA JPMorgan Emerging Markets Portfolio — Class 3** |
| 01/31/21 | &nbsp;&nbsp;&nbsp;7.98 | 0.09 | &nbsp;&nbsp;2.11 | &nbsp;&nbsp;2.20 | (0.14) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.14) | 10.04 | &nbsp;&nbsp;&nbsp;27.82(7) | 146241 | 1.44 | 1.32 | 1.07 | 74 |
| 01/31/22 | 10.04 | 0.21 | (0.57) | (0.36) | (0.16) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.16) | &nbsp;&nbsp;&nbsp;9.52 | (3.64) | 150043 | 1.50 | 1.39 | 2.06 | 64 |
| 01/31/23 | &nbsp;&nbsp;&nbsp;9.52 | 0.23 | (2.01) | (1.78) | (0.20) | (0.06) | (0.26) | &nbsp;&nbsp;&nbsp;7.48 | (18.18) | 122292 | 1.54 | 1.42 | 2.98 | 66 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;7.48 | 0.14 | (0.32) | (0.18) | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | &nbsp;&nbsp;&nbsp;7.02 | (2.33) | 113467 | 1.56 | 1.43 | 1.93 | 68 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;7.02 | 0.17 | &nbsp;&nbsp;1.07 | &nbsp;&nbsp;1.24 | (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.22) | &nbsp;&nbsp;&nbsp;8.04 | 17.66 | 119038 | 1.58 | 1.46 | 2.09 | 64 |
| 07/31/25@ | &nbsp;&nbsp;&nbsp;8.04 | 0.12 | &nbsp;&nbsp;1.15 | &nbsp;&nbsp;1.27 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;9.31 | 15.80 | 120354 | &nbsp;&nbsp;1.58(6) | &nbsp;&nbsp;1.45(6) | &nbsp;&nbsp;2.89(6) | 41 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | Includes the effect of a merger. |
| (4) | Excludes purchases/sales due to merger. |
| (5) | The Portfolio's performance figure was decreased by 0.00% from losses on the disposal of investments in violation of investment restrictions. |
| (6) | Annualized |
| (7) | The Portfolio's performance figure was increased by 0.00% from gains on the disposal of investments in violation of investment restrictions. |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA JPMorgan Equity-Income Portfolio — Class 1** | **SA JPMorgan Equity-Income Portfolio — Class 1** | **SA JPMorgan Equity-Income Portfolio — Class 1** | **SA JPMorgan Equity-Income Portfolio — Class 1** | **SA JPMorgan Equity-Income Portfolio — Class 1** | **SA JPMorgan Equity-Income Portfolio — Class 1** | **SA JPMorgan Equity-Income Portfolio — Class 1** | **SA JPMorgan Equity-Income Portfolio — Class 1** | **SA JPMorgan Equity-Income Portfolio — Class 1** | **SA JPMorgan Equity-Income Portfolio — Class 1** | **SA JPMorgan Equity-Income Portfolio — Class 1** | **SA JPMorgan Equity-Income Portfolio — Class 1** | **SA JPMorgan Equity-Income Portfolio — Class 1** | **SA JPMorgan Equity-Income Portfolio — Class 1** | **SA JPMorgan Equity-Income Portfolio — Class 1** |
| 01/31/21 | $35.77 | $0.71 | $0.18 | $0.89 | $(0.72) | $(2.52) | $(3.24) | $33.42 | &nbsp;&nbsp;&nbsp;2.68% | $838072 | 0.57% | 0.57% | 2.20% | &nbsp;&nbsp;30% |
| 01/31/22 | 33.42 | 0.69 | &nbsp;&nbsp;8.63 | &nbsp;&nbsp;9.32 | (0.74) | (1.32) | (2.06) | 40.68 | 27.93 | 926960 | 0.57 | 0.57 | 1.75 | 19 |
| 01/31/23 | 40.68 | 0.80 | (0.57) | &nbsp;&nbsp;0.23 | (0.77) | (4.48) | (5.25) | 35.66 | &nbsp;&nbsp;1.26 | 779389 | 0.57 | 0.57 | 2.09 | 10 |
| 01/31/24 | 35.66 | 0.73 | (0.43) | &nbsp;&nbsp;0.30 | (0.87) | (3.26) | (4.13) | 31.83 | &nbsp;&nbsp;1.99 | 626754 | 0.58 | 0.58 | 2.20 | 13 |
| 01/31/25 | 31.83 | 0.68 | &nbsp;&nbsp;5.15 | &nbsp;&nbsp;5.83 | (0.86) | (2.48) | (3.34) | 34.32 | 18.31 | 515610 | 0.58 | 0.58 | 1.98 | 19 |
| 07/31/25@ | 34.32 | 0.32 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;0.50 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 34.82 | &nbsp;&nbsp;1.46 | 466509 | &nbsp;&nbsp;0.59(3) | &nbsp;&nbsp;0.59(3) | &nbsp;&nbsp;1.91(3) | 13 |
| **SA JPMorgan Equity-Income Portfolio — Class 2** | **SA JPMorgan Equity-Income Portfolio — Class 2** | **SA JPMorgan Equity-Income Portfolio — Class 2** | **SA JPMorgan Equity-Income Portfolio — Class 2** | **SA JPMorgan Equity-Income Portfolio — Class 2** | **SA JPMorgan Equity-Income Portfolio — Class 2** | **SA JPMorgan Equity-Income Portfolio — Class 2** | **SA JPMorgan Equity-Income Portfolio — Class 2** | **SA JPMorgan Equity-Income Portfolio — Class 2** | **SA JPMorgan Equity-Income Portfolio — Class 2** | **SA JPMorgan Equity-Income Portfolio — Class 2** | **SA JPMorgan Equity-Income Portfolio — Class 2** | **SA JPMorgan Equity-Income Portfolio — Class 2** | **SA JPMorgan Equity-Income Portfolio — Class 2** | **SA JPMorgan Equity-Income Portfolio — Class 2** |
| 01/31/21 | 35.73 | 0.67 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;0.83 | (0.66) | (2.52) | (3.18) | 33.38 | &nbsp;&nbsp;2.51 | &nbsp;&nbsp;&nbsp;&nbsp;9134 | 0.72 | 0.72 | 2.06 | 30 |
| 01/31/22 | 33.38 | 0.63 | &nbsp;&nbsp;8.61 | &nbsp;&nbsp;9.24 | (0.69) | (1.32) | (2.01) | 40.61 | 27.72 | &nbsp;&nbsp;&nbsp;11767 | 0.72 | 0.72 | 1.60 | 19 |
| 01/31/23 | 40.61 | 0.74 | (0.56) | &nbsp;&nbsp;0.18 | (0.71) | (4.48) | (5.19) | 35.60 | &nbsp;&nbsp;1.12 | &nbsp;&nbsp;&nbsp;10194 | 0.72 | 0.72 | 1.94 | 10 |
| 01/31/24 | 35.60 | 0.68 | (0.43) | &nbsp;&nbsp;0.25 | (0.81) | (3.26) | (4.07) | 31.78 | &nbsp;&nbsp;1.83 | &nbsp;&nbsp;&nbsp;&nbsp;9186 | 0.73 | 0.73 | 2.04 | 13 |
| 01/31/25 | 31.78 | 0.62 | &nbsp;&nbsp;5.15 | &nbsp;&nbsp;5.77 | (0.81) | (2.48) | (3.29) | 34.26 | 18.15 | &nbsp;&nbsp;&nbsp;10214 | 0.73 | 0.73 | 1.82 | 19 |
| 07/31/25@ | 34.26 | 0.29 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;0.47 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 34.73 | &nbsp;&nbsp;1.37 | &nbsp;&nbsp;&nbsp;&nbsp;9059 | &nbsp;&nbsp;0.74(3) | &nbsp;&nbsp;0.74(3) | &nbsp;&nbsp;1.77(3) | 13 |
| **SA JPMorgan Equity-Income Portfolio — Class 3** | **SA JPMorgan Equity-Income Portfolio — Class 3** | **SA JPMorgan Equity-Income Portfolio — Class 3** | **SA JPMorgan Equity-Income Portfolio — Class 3** | **SA JPMorgan Equity-Income Portfolio — Class 3** | **SA JPMorgan Equity-Income Portfolio — Class 3** | **SA JPMorgan Equity-Income Portfolio — Class 3** | **SA JPMorgan Equity-Income Portfolio — Class 3** | **SA JPMorgan Equity-Income Portfolio — Class 3** | **SA JPMorgan Equity-Income Portfolio — Class 3** | **SA JPMorgan Equity-Income Portfolio — Class 3** | **SA JPMorgan Equity-Income Portfolio — Class 3** | **SA JPMorgan Equity-Income Portfolio — Class 3** | **SA JPMorgan Equity-Income Portfolio — Class 3** | **SA JPMorgan Equity-Income Portfolio — Class 3** |
| 01/31/21 | 35.54 | 0.62 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;0.78 | (0.64) | (2.52) | (3.16) | 33.16 | &nbsp;&nbsp;2.37 | 255619 | 0.82 | 0.82 | 1.94 | 30 |
| 01/31/22 | 33.16 | 0.59 | &nbsp;&nbsp;8.57 | &nbsp;&nbsp;9.16 | (0.67) | (1.32) | (1.99) | 40.33 | 27.65 | 326372 | 0.82 | 0.82 | 1.50 | 19 |
| 01/31/23 | 40.33 | 0.70 | (0.56) | &nbsp;&nbsp;0.14 | (0.68) | (4.48) | (5.16) | 35.31 | &nbsp;&nbsp;1.02 | 321279 | 0.82 | 0.82 | 1.85 | 10 |
| 01/31/24 | 35.31 | 0.64 | (0.43) | &nbsp;&nbsp;0.21 | (0.79) | (3.26) | (4.05) | 31.47 | &nbsp;&nbsp;1.71 | 334321 | 0.83 | 0.83 | 1.94 | 13 |
| 01/31/25 | 31.47 | 0.58 | &nbsp;&nbsp;5.10 | &nbsp;&nbsp;5.68 | (0.78) | (2.48) | (3.26) | 33.89 | 18.04 | 365778 | 0.83 | 0.83 | 1.72 | 19 |
| 07/31/25@ | 33.89 | 0.27 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;0.45 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 34.34 | &nbsp;&nbsp;1.33 | 353666 | &nbsp;&nbsp;0.84(3) | &nbsp;&nbsp;0.84(3) | &nbsp;&nbsp;1.66(3) | 13 |
| **SA JPMorgan Large Cap Core Portfolio — Class 1** | **SA JPMorgan Large Cap Core Portfolio — Class 1** | **SA JPMorgan Large Cap Core Portfolio — Class 1** | **SA JPMorgan Large Cap Core Portfolio — Class 1** | **SA JPMorgan Large Cap Core Portfolio — Class 1** | **SA JPMorgan Large Cap Core Portfolio — Class 1** | **SA JPMorgan Large Cap Core Portfolio — Class 1** | **SA JPMorgan Large Cap Core Portfolio — Class 1** | **SA JPMorgan Large Cap Core Portfolio — Class 1** | **SA JPMorgan Large Cap Core Portfolio — Class 1** | **SA JPMorgan Large Cap Core Portfolio — Class 1** | **SA JPMorgan Large Cap Core Portfolio — Class 1** | **SA JPMorgan Large Cap Core Portfolio — Class 1** | **SA JPMorgan Large Cap Core Portfolio — Class 1** | **SA JPMorgan Large Cap Core Portfolio — Class 1** |
| 01/31/21 | 22.56 | 0.19 | &nbsp;&nbsp;2.72 | &nbsp;&nbsp;2.91 | (0.25) | (1.61) | (1.86) | 23.61 | 13.19 | 345113 | 0.77 | 0.76 | 0.88 | 52 |
| 01/31/22 | 23.61 | 0.15 | &nbsp;&nbsp;4.75 | &nbsp;&nbsp;4.90 | (0.18) | (1.24) | (1.42) | 27.09 | 20.40 | 393771 | 0.76 | 0.71 | 0.55 | 52 |
| 01/31/23 | 27.09 | 0.15 | (3.51) | (3.36) | (0.24) | (5.56) | (5.80) | 17.93 | (10.40) | 301022 | 0.78 | 0.73 | 0.66 | 62 |
| 01/31/24 | 17.93 | 0.16 | &nbsp;&nbsp;3.76 | &nbsp;&nbsp;3.92 | (0.15) | (0.63) | (0.78) | 21.07 | 22.35 | 302716 | 0.81 | 0.75 | 0.83 | 118 |
| 01/31/25 | 21.07 | 0.11 | &nbsp;&nbsp;5.14 | &nbsp;&nbsp;5.25 | (0.09) | (2.60) | (2.69) | 23.63 | 24.76 | 406834 | 0.77 | 0.70 | 0.46 | 58 |
| 07/31/25@ | 23.63 | 0.06 | &nbsp;&nbsp;1.44 | &nbsp;&nbsp;1.50 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 25.13 | &nbsp;&nbsp;6.35 | 450151 | &nbsp;&nbsp;0.76(3) | &nbsp;&nbsp;0.69(3) | &nbsp;&nbsp;0.50(3) | 25 |
| **SA JPMorgan Large Cap Core Portfolio — Class 2** | **SA JPMorgan Large Cap Core Portfolio — Class 2** | **SA JPMorgan Large Cap Core Portfolio — Class 2** | **SA JPMorgan Large Cap Core Portfolio — Class 2** | **SA JPMorgan Large Cap Core Portfolio — Class 2** | **SA JPMorgan Large Cap Core Portfolio — Class 2** | **SA JPMorgan Large Cap Core Portfolio — Class 2** | **SA JPMorgan Large Cap Core Portfolio — Class 2** | **SA JPMorgan Large Cap Core Portfolio — Class 2** | **SA JPMorgan Large Cap Core Portfolio — Class 2** | **SA JPMorgan Large Cap Core Portfolio — Class 2** | **SA JPMorgan Large Cap Core Portfolio — Class 2** | **SA JPMorgan Large Cap Core Portfolio — Class 2** | **SA JPMorgan Large Cap Core Portfolio — Class 2** | **SA JPMorgan Large Cap Core Portfolio — Class 2** |
| 01/31/21 | 22.56 | 0.16 | &nbsp;&nbsp;2.71 | &nbsp;&nbsp;2.87 | (0.21) | (1.61) | (1.82) | 23.61 | 13.02 | &nbsp;&nbsp;&nbsp;&nbsp;3673 | 0.92 | 0.91 | 0.74 | 52 |
| 01/31/22 | 23.61 | 0.11 | &nbsp;&nbsp;4.74 | &nbsp;&nbsp;4.85 | (0.14) | (1.24) | (1.38) | 27.08 | 20.20 | &nbsp;&nbsp;&nbsp;&nbsp;3636 | 0.91 | 0.86 | 0.41 | 52 |
| 01/31/23 | 27.08 | 0.11 | (3.49) | (3.38) | (0.20) | (5.56) | (5.76) | 17.94 | (10.52) | &nbsp;&nbsp;&nbsp;&nbsp;3010 | 0.93 | 0.88 | 0.51 | 62 |
| 01/31/24 | 17.94 | 0.13 | &nbsp;&nbsp;3.76 | &nbsp;&nbsp;3.89 | (0.12) | (0.63) | (0.75) | 21.08 | 22.15 | &nbsp;&nbsp;&nbsp;&nbsp;3275 | 0.96 | 0.90 | 0.67 | 118 |
| 01/31/25 | 21.08 | 0.07 | &nbsp;&nbsp;5.15 | &nbsp;&nbsp;5.22 | (0.06) | (2.60) | (2.66) | 23.64 | 24.59 | &nbsp;&nbsp;&nbsp;&nbsp;3617 | 0.92 | 0.85 | 0.32 | 58 |
| 07/31/25@ | 23.64 | 0.04 | &nbsp;&nbsp;1.44 | &nbsp;&nbsp;1.48 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 25.12 | &nbsp;&nbsp;6.26 | &nbsp;&nbsp;&nbsp;&nbsp;3687 | &nbsp;&nbsp;0.91(3) | &nbsp;&nbsp;0.84(3) | &nbsp;&nbsp;0.35(3) | 25 |
| **SA JPMorgan Large Cap Core Portfolio — Class 3** | **SA JPMorgan Large Cap Core Portfolio — Class 3** | **SA JPMorgan Large Cap Core Portfolio — Class 3** | **SA JPMorgan Large Cap Core Portfolio — Class 3** | **SA JPMorgan Large Cap Core Portfolio — Class 3** | **SA JPMorgan Large Cap Core Portfolio — Class 3** | **SA JPMorgan Large Cap Core Portfolio — Class 3** | **SA JPMorgan Large Cap Core Portfolio — Class 3** | **SA JPMorgan Large Cap Core Portfolio — Class 3** | **SA JPMorgan Large Cap Core Portfolio — Class 3** | **SA JPMorgan Large Cap Core Portfolio — Class 3** | **SA JPMorgan Large Cap Core Portfolio — Class 3** | **SA JPMorgan Large Cap Core Portfolio — Class 3** | **SA JPMorgan Large Cap Core Portfolio — Class 3** | **SA JPMorgan Large Cap Core Portfolio — Class 3** |
| 01/31/21 | 22.44 | 0.14 | &nbsp;&nbsp;2.69 | &nbsp;&nbsp;2.83 | (0.19) | (1.61) | (1.80) | 23.47 | 12.90 | 108689 | 1.02 | 1.01 | 0.63 | 52 |
| 01/31/22 | 23.47 | 0.08 | &nbsp;&nbsp;4.72 | &nbsp;&nbsp;4.80 | (0.12) | (1.24) | (1.36) | 26.91 | 20.11 | 118427 | 1.01 | 0.96 | 0.31 | 52 |
| 01/31/23 | 26.91 | 0.09 | (3.48) | (3.39) | (0.17) | (5.56) | (5.73) | 17.79 | (10.61) | 104992 | 1.03 | 0.98 | 0.40 | 62 |
| 01/31/24 | 17.79 | 0.11 | &nbsp;&nbsp;3.72 | &nbsp;&nbsp;3.83 | (0.10) | (0.63) | (0.73) | 20.89 | 21.99 | 115796 | 1.06 | 1.00 | 0.57 | 118 |
| 01/31/25 | 20.89 | 0.05 | &nbsp;&nbsp;5.10 | &nbsp;&nbsp;5.15 | (0.04) | (2.60) | (2.64) | 23.40 | 24.47 | 128361 | 1.02 | 0.95 | 0.22 | 58 |
| 07/31/25@ | 23.40 | 0.03 | &nbsp;&nbsp;1.43 | &nbsp;&nbsp;1.46 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 24.86 | &nbsp;&nbsp;6.24 | 132402 | &nbsp;&nbsp;1.01(3) | &nbsp;&nbsp;0.94(3) | &nbsp;&nbsp;0.25(3) | 25 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | Annualized |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA JPMorgan MFS Core Bond Portfolio — Class 1** | **SA JPMorgan MFS Core Bond Portfolio — Class 1** | **SA JPMorgan MFS Core Bond Portfolio — Class 1** | **SA JPMorgan MFS Core Bond Portfolio — Class 1** | **SA JPMorgan MFS Core Bond Portfolio — Class 1** | **SA JPMorgan MFS Core Bond Portfolio — Class 1** | **SA JPMorgan MFS Core Bond Portfolio — Class 1** | **SA JPMorgan MFS Core Bond Portfolio — Class 1** | **SA JPMorgan MFS Core Bond Portfolio — Class 1** | **SA JPMorgan MFS Core Bond Portfolio — Class 1** | **SA JPMorgan MFS Core Bond Portfolio — Class 1** | **SA JPMorgan MFS Core Bond Portfolio — Class 1** | **SA JPMorgan MFS Core Bond Portfolio — Class 1** | **SA JPMorgan MFS Core Bond Portfolio — Class 1** | **SA JPMorgan MFS Core Bond Portfolio — Class 1** |
| 01/31/21 | $9.41 | $0.21 | $0.31 | $0.52 | $(0.26) | $— | $(0.26) | $9.67 | &nbsp;&nbsp;5.53% | $1058040 | 0.64% | 0.54% | &nbsp;&nbsp;2.18% | &nbsp;&nbsp;98% |
| 01/31/22 | &nbsp;&nbsp;&nbsp;9.67 | &nbsp;&nbsp;0.18 | (0.40) | (0.22) | (0.25) | (0.08) | (0.33) | &nbsp;&nbsp;&nbsp;9.12 | (2.34) | 1068190 | 0.63 | 0.53 | 1.90 | 115 |
| 01/31/23 | &nbsp;&nbsp;&nbsp;9.12 | &nbsp;&nbsp;0.22 | (0.98) | (0.76) | (0.21) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.21) | &nbsp;&nbsp;&nbsp;8.15 | (8.17) | &nbsp;&nbsp;&nbsp;896640 | 0.63 | 0.53 | 2.67 | 82 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;8.15 | &nbsp;&nbsp;0.30 | (0.08) | &nbsp;&nbsp;0.22 | (0.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.24) | &nbsp;&nbsp;&nbsp;8.13 | 2.88 | &nbsp;&nbsp;&nbsp;874967 | 0.64 | 0.54 | 3.72 | 43 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;8.13 | &nbsp;&nbsp;0.32 | (0.09) | &nbsp;&nbsp;0.23 | (0.31) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.31) | &nbsp;&nbsp;&nbsp;8.05 | &nbsp;&nbsp;&nbsp;&nbsp;2.79(3) | &nbsp;&nbsp;&nbsp;911255 | 0.64 | 0.54 | 3.87 | &nbsp;&nbsp;&nbsp;&nbsp;33(4) |
| 07/31/25@ | &nbsp;&nbsp;&nbsp;8.05 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;0.11 | &nbsp;&nbsp;0.27 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;8.32 | 3.35 | &nbsp;&nbsp;&nbsp;998750 | &nbsp;&nbsp;0.63(5) | &nbsp;&nbsp;0.53(5) | &nbsp;&nbsp;&nbsp;3.98(5) | &nbsp;&nbsp;&nbsp;&nbsp;17(4) |
| **SA JPMorgan MFS Core Bond Portfolio — Class 2** | **SA JPMorgan MFS Core Bond Portfolio — Class 2** | **SA JPMorgan MFS Core Bond Portfolio — Class 2** | **SA JPMorgan MFS Core Bond Portfolio — Class 2** | **SA JPMorgan MFS Core Bond Portfolio — Class 2** | **SA JPMorgan MFS Core Bond Portfolio — Class 2** | **SA JPMorgan MFS Core Bond Portfolio — Class 2** | **SA JPMorgan MFS Core Bond Portfolio — Class 2** | **SA JPMorgan MFS Core Bond Portfolio — Class 2** | **SA JPMorgan MFS Core Bond Portfolio — Class 2** | **SA JPMorgan MFS Core Bond Portfolio — Class 2** | **SA JPMorgan MFS Core Bond Portfolio — Class 2** | **SA JPMorgan MFS Core Bond Portfolio — Class 2** | **SA JPMorgan MFS Core Bond Portfolio — Class 2** | **SA JPMorgan MFS Core Bond Portfolio — Class 2** |
| 01/31/21 | &nbsp;&nbsp;&nbsp;9.38 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;0.31 | &nbsp;&nbsp;0.50 | (0.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.24) | &nbsp;&nbsp;&nbsp;9.64 | 5.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7951 | 0.79 | 0.69 | 2.03 | 98 |
| 01/31/22 | &nbsp;&nbsp;&nbsp;9.64 | &nbsp;&nbsp;0.17 | (0.41) | (0.24) | (0.23) | (0.08) | (0.31) | &nbsp;&nbsp;&nbsp;9.09 | (2.50) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7289 | 0.78 | 0.68 | 1.75 | 115 |
| 01/31/23 | &nbsp;&nbsp;&nbsp;9.09 | &nbsp;&nbsp;0.21 | (0.98) | (0.77) | (0.19) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.19) | &nbsp;&nbsp;&nbsp;8.13 | (8.29) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5268 | 0.78 | 0.68 | 2.49 | 82 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;8.13 | &nbsp;&nbsp;0.29 | (0.08) | &nbsp;&nbsp;0.21 | (0.23) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.23) | &nbsp;&nbsp;&nbsp;8.11 | 2.72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5479 | 0.79 | 0.69 | 3.58 | 43 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;8.11 | &nbsp;&nbsp;0.30 | (0.09) | &nbsp;&nbsp;0.21 | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | &nbsp;&nbsp;&nbsp;8.03 | &nbsp;&nbsp;&nbsp;&nbsp;2.64(3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5268 | 0.79 | 0.69 | 3.72 | &nbsp;&nbsp;&nbsp;&nbsp;33(4) |
| 07/31/25@ | &nbsp;&nbsp;&nbsp;8.03 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;8.29 | 3.24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5448 | &nbsp;&nbsp;0.78(5) | &nbsp;&nbsp;0.68(5) | &nbsp;&nbsp;&nbsp;3.83(5) | &nbsp;&nbsp;&nbsp;&nbsp;17(4) |
| **SA JPMorgan MFS Core Bond Portfolio — Class 3** | **SA JPMorgan MFS Core Bond Portfolio — Class 3** | **SA JPMorgan MFS Core Bond Portfolio — Class 3** | **SA JPMorgan MFS Core Bond Portfolio — Class 3** | **SA JPMorgan MFS Core Bond Portfolio — Class 3** | **SA JPMorgan MFS Core Bond Portfolio — Class 3** | **SA JPMorgan MFS Core Bond Portfolio — Class 3** | **SA JPMorgan MFS Core Bond Portfolio — Class 3** | **SA JPMorgan MFS Core Bond Portfolio — Class 3** | **SA JPMorgan MFS Core Bond Portfolio — Class 3** | **SA JPMorgan MFS Core Bond Portfolio — Class 3** | **SA JPMorgan MFS Core Bond Portfolio — Class 3** | **SA JPMorgan MFS Core Bond Portfolio — Class 3** | **SA JPMorgan MFS Core Bond Portfolio — Class 3** | **SA JPMorgan MFS Core Bond Portfolio — Class 3** |
| 01/31/21 | &nbsp;&nbsp;&nbsp;9.31 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;0.31 | &nbsp;&nbsp;0.49 | (0.23) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.23) | &nbsp;&nbsp;&nbsp;9.57 | 5.34 | &nbsp;&nbsp;&nbsp;982225 | 0.89 | 0.79 | 1.93 | 98 |
| 01/31/22 | &nbsp;&nbsp;&nbsp;9.57 | &nbsp;&nbsp;0.15 | (0.39) | (0.24) | (0.23) | (0.08) | (0.31) | &nbsp;&nbsp;&nbsp;9.02 | (2.58) | &nbsp;&nbsp;&nbsp;991411 | 0.88 | 0.78 | 1.65 | 115 |
| 01/31/23 | &nbsp;&nbsp;&nbsp;9.02 | &nbsp;&nbsp;0.20 | (0.98) | (0.78) | (0.18) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.18) | &nbsp;&nbsp;&nbsp;8.06 | (8.46) | &nbsp;&nbsp;&nbsp;812464 | 0.88 | 0.78 | 2.41 | 82 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;8.06 | &nbsp;&nbsp;0.28 | (0.08) | &nbsp;&nbsp;0.20 | (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.22) | &nbsp;&nbsp;&nbsp;8.04 | 2.64 | &nbsp;&nbsp;&nbsp;832500 | 0.89 | 0.79 | 3.47 | 43 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;8.04 | &nbsp;&nbsp;0.29 | (0.08) | &nbsp;&nbsp;0.21 | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | &nbsp;&nbsp;&nbsp;7.96 | &nbsp;&nbsp;&nbsp;&nbsp;2.57(3) | &nbsp;&nbsp;&nbsp;831614 | 0.89 | 0.79 | 3.62 | &nbsp;&nbsp;&nbsp;&nbsp;33(4) |
| 07/31/25@ | &nbsp;&nbsp;&nbsp;7.96 | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;0.25 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;8.21 | 3.14 | &nbsp;&nbsp;&nbsp;826254 | &nbsp;&nbsp;0.88(5) | &nbsp;&nbsp;0.78(5) | &nbsp;&nbsp;&nbsp;3.73(5) | &nbsp;&nbsp;&nbsp;&nbsp;17(4) |
| **SA JPMorgan Mid-Cap Growth Portfolio — Class 1** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 1** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 1** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 1** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 1** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 1** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 1** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 1** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 1** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 1** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 1** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 1** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 1** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 1** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 1** |
| 01/31/21 | 20.25 | (0.08) | &nbsp;&nbsp;8.65 | &nbsp;&nbsp;8.57 | (0.04) | (2.94) | (2.98) | 25.84 | 43.80 | &nbsp;&nbsp;&nbsp;274202 | 0.80 | 0.80 | (0.34) | 64 |
| 01/31/22 | 25.84 | (0.12) | (0.09) | (0.21)(6) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.16) | (3.16) | 22.47 | (2.91) | &nbsp;&nbsp;&nbsp;307277 | 0.79 | 0.79 | (0.44) | &nbsp;&nbsp;&nbsp;&nbsp;81(7) |
| 01/31/23 | 22.47 | (0.06) | (2.71) | (2.77) | &nbsp;&nbsp;&nbsp;&nbsp;— | (4.86) | (4.86) | 14.84 | (9.72) | &nbsp;&nbsp;&nbsp;247991 | 0.80 | 0.79 | (0.32) | 42 |
| 01/31/24 | 14.84 | (0.04) | &nbsp;&nbsp;2.20 | &nbsp;&nbsp;2.16 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 17.00 | 14.56 | &nbsp;&nbsp;&nbsp;245624 | 0.80 | 0.79 | (0.29) | 49 |
| 01/31/25 | 17.00 | (0.06) | &nbsp;&nbsp;3.74 | &nbsp;&nbsp;3.68 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 20.68 | 21.65 | &nbsp;&nbsp;&nbsp;247971 | 0.79 | 0.79 | (0.31) | 59 |
| 07/31/25@ | 20.68 | (0.02) | &nbsp;&nbsp;0.56 | &nbsp;&nbsp;0.54 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 21.22 | 2.61 | &nbsp;&nbsp;&nbsp;259990 | &nbsp;&nbsp;0.80(5) | &nbsp;&nbsp;0.77(5) | (0.21)(5) | 44 |
| **SA JPMorgan Mid-Cap Growth Portfolio — Class 2** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 2** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 2** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 2** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 2** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 2** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 2** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 2** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 2** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 2** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 2** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 2** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 2** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 2** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 2** |
| 01/31/21 | 19.37 | (0.11) | &nbsp;&nbsp;8.26 | &nbsp;&nbsp;8.15 | (0.01) | (2.94) | (2.95) | 24.57 | 43.59 | &nbsp;&nbsp;&nbsp;&nbsp;18887 | 0.95 | 0.95 | (0.49) | 64 |
| 01/31/22 | 24.57 | (0.15) | (0.06) | (0.21)(6) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.16) | (3.16) | 21.20 | (3.07) | &nbsp;&nbsp;&nbsp;&nbsp;19013 | 0.94 | 0.94 | (0.59) | &nbsp;&nbsp;&nbsp;&nbsp;81(7) |
| 01/31/23 | 21.20 | (0.08) | (2.59) | (2.67) | &nbsp;&nbsp;&nbsp;&nbsp;— | (4.86) | (4.86) | 13.67 | (9.84) | &nbsp;&nbsp;&nbsp;&nbsp;14834 | 0.95 | 0.94 | (0.48) | 42 |
| 01/31/24 | 13.67 | (0.06) | &nbsp;&nbsp;2.02 | &nbsp;&nbsp;1.96 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 15.63 | 14.34 | &nbsp;&nbsp;&nbsp;&nbsp;14557 | 0.95 | 0.94 | (0.44) | 49 |
| 01/31/25 | 15.63 | (0.08) | &nbsp;&nbsp;3.44 | &nbsp;&nbsp;3.36 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 18.99 | 21.50 | &nbsp;&nbsp;&nbsp;&nbsp;14865 | 0.94 | 0.94 | (0.46) | 59 |
| 07/31/25@ | 18.99 | (0.03) | &nbsp;&nbsp;0.52 | &nbsp;&nbsp;0.49 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 19.48 | 2.58 | &nbsp;&nbsp;&nbsp;&nbsp;14133 | &nbsp;&nbsp;0.95(5) | &nbsp;&nbsp;0.92(5) | (0.35)(5) | 44 |
| **SA JPMorgan Mid-Cap Growth Portfolio — Class 3** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 3** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 3** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 3** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 3** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 3** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 3** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 3** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 3** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 3** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 3** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 3** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 3** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 3** | **SA JPMorgan Mid-Cap Growth Portfolio — Class 3** |
| 01/31/21 | 18.84 | (0.12) | &nbsp;&nbsp;8.02 | &nbsp;&nbsp;7.90 | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.94) | (2.94) | 23.80 | 43.49 | &nbsp;&nbsp;&nbsp;225018 | 1.05 | 1.05 | (0.59) | 64 |
| 01/31/22 | 23.80 | (0.17) | (0.04) | (0.21)(6) | &nbsp;&nbsp;&nbsp;&nbsp;— | (3.16) | (3.16) | 20.43 | (3.17) | &nbsp;&nbsp;&nbsp;361316 | 1.04 | 1.04 | (0.69) | &nbsp;&nbsp;&nbsp;&nbsp;81(7) |
| 01/31/23 | 20.43 | (0.09) | (2.52) | (2.61) | &nbsp;&nbsp;&nbsp;&nbsp;— | (4.86) | (4.86) | 12.96 | (9.93) | &nbsp;&nbsp;&nbsp;347093 | 1.05 | 1.04 | (0.57) | 42 |
| 01/31/24 | 12.96 | (0.07) | &nbsp;&nbsp;1.91 | &nbsp;&nbsp;1.84 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 14.80 | 14.20 | &nbsp;&nbsp;&nbsp;382722 | 1.05 | 1.04 | (0.54) | 49 |
| 01/31/25 | 14.80 | (0.09) | &nbsp;&nbsp;3.26 | &nbsp;&nbsp;3.17 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 17.97 | 21.42 | &nbsp;&nbsp;&nbsp;448533 | 1.04 | 1.04 | (0.57) | 59 |
| 07/31/25@ | 17.97 | (0.04) | &nbsp;&nbsp;0.49 | &nbsp;&nbsp;0.45 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 18.42 | 2.50 | &nbsp;&nbsp;&nbsp;440625 | &nbsp;&nbsp;1.05(5) | &nbsp;&nbsp;1.02(5) | (0.45)(5) | 44 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | The Portfolio's performance figure was increased by 0.00% from gains on the disposal of investments in violation of investment restrictions. |
| (4) | Beginning with the period ended January 31, 2025, portfolio turnover rates included in this table exclude TBA transactions. Prior period portfolio turnover rates include TBA transactions. See the Supplemental Ratios table below for the current period ratios including TBA transactions. |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Supplemental Ratios** |  |  |  |  |  |  |
| **Portfolio Turnover (including TBA transactions)** | &nbsp;&nbsp;**01/21** | &nbsp;&nbsp;**01/22** | &nbsp;&nbsp;**01/23** | &nbsp;&nbsp;**01/24** | &nbsp;&nbsp;**01/25** | &nbsp;&nbsp;**07/25** |
| SA JPMorgan MFS Core Bond Portfolio<br>| &nbsp;&nbsp;N/A | &nbsp;&nbsp;N/A | &nbsp;&nbsp;N/A | &nbsp;&nbsp;N/A | &nbsp;&nbsp;63% | &nbsp;&nbsp;27% |

---

(5) Annualized

(6) Includes the effect of a merger.

(7) Excludes purchases/sales due to merger.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA JPMorgan Ultra-Short Bond Portfolio — Class 1** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 1** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 1** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 1** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 1** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 1** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 1** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 1** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 1** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 1** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 1** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 1** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 1** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 1** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 1** |
| 01/31/21 | $10.65 | $0.02 | $(0.01) | $0.01 | $(0.17) | $— | $(0.17) | $10.49 | &nbsp;&nbsp;&nbsp;0.11% | $142266 | 0.51% | 0.51% | &nbsp;&nbsp;0.20% | 110% |
| 01/31/22 | 10.49 | (0.03) | (0.06) | (0.09) | (0.01) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.01) | 10.39 | (0.90) | 128627 | 0.50 | 0.50 | (0.32) | 110 |
| 01/31/23 | 10.39 | &nbsp;&nbsp;0.12 | (0.20) | (0.08) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.31 | (0.77) | 140713 | 0.51 | 0.51 | 1.14 | 115 |
| 01/31/24 | 10.31 | &nbsp;&nbsp;0.35 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;0.47 | (0.12) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.12) | 10.66 | &nbsp;&nbsp;4.62 | 119860 | 0.51 | 0.51 | 3.29 | 47 |
| 01/31/25 | 10.66 | &nbsp;&nbsp;0.52 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;0.56 | (0.42) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.42) | 10.80 | &nbsp;&nbsp;5.30 | 107255 | 0.53 | 0.53 | 4.77 | 118 |
| 07/31/25@ | 10.80 | &nbsp;&nbsp;0.23 | &nbsp;&nbsp;0.02 | &nbsp;&nbsp;0.25 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.05 | &nbsp;&nbsp;2.31 | 113816 | &nbsp;&nbsp;0.52(3) | &nbsp;&nbsp;0.52(3) | &nbsp;&nbsp;&nbsp;4.25(3) | 59 |
| **SA JPMorgan Ultra-Short Bond Portfolio — Class 2** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 2** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 2** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 2** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 2** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 2** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 2** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 2** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 2** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 2** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 2** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 2** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 2** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 2** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 2** |
| 01/31/21 | 10.52 | &nbsp;&nbsp;0.00 | (0.00) | (0.00) | (0.16) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.16) | 10.36 | (0.03) | &nbsp;&nbsp;&nbsp;14805 | 0.66 | 0.66 | 0.01 | 110 |
| 01/31/22 | 10.36 | (0.05) | (0.06) | (0.11) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.25 | (1.06) | &nbsp;&nbsp;&nbsp;12729 | 0.65 | 0.65 | (0.46) | 110 |
| 01/31/23 | 10.25 | &nbsp;&nbsp;0.09 | (0.18) | (0.09) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.16 | (0.88) | &nbsp;&nbsp;&nbsp;10969 | 0.66 | 0.66 | 0.91 | 115 |
| 01/31/24 | 10.16 | &nbsp;&nbsp;0.33 | &nbsp;&nbsp;0.13 | &nbsp;&nbsp;0.46 | (0.11) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.11) | 10.51 | &nbsp;&nbsp;4.50 | &nbsp;&nbsp;&nbsp;&nbsp;9678 | 0.66 | 0.66 | 3.15 | 47 |
| 01/31/25 | 10.51 | &nbsp;&nbsp;0.49 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;0.53 | (0.40) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.40) | 10.64 | &nbsp;&nbsp;5.11 | &nbsp;&nbsp;&nbsp;&nbsp;9573 | 0.68 | 0.68 | 4.62 | 118 |
| 07/31/25@ | 10.64 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;0.23 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.87 | &nbsp;&nbsp;2.16 | &nbsp;&nbsp;&nbsp;&nbsp;9381 | &nbsp;&nbsp;0.67(3) | &nbsp;&nbsp;0.67(3) | &nbsp;&nbsp;&nbsp;4.11(3) | 59 |
| **SA JPMorgan Ultra-Short Bond Portfolio — Class 3** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 3** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 3** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 3** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 3** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 3** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 3** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 3** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 3** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 3** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 3** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 3** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 3** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 3** | **SA JPMorgan Ultra-Short Bond Portfolio — Class 3** |
| 01/31/21 | 10.42 | (0.01) | (0.00) | (0.01) | (0.15) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.15) | 10.26 | (0.08) | 233226 | 0.76 | 0.76 | (0.11) | 110 |
| 01/31/22 | 10.26 | (0.06) | (0.05) | (0.11) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.15 | (1.07) | 227418 | 0.75 | 0.75 | (0.56) | 110 |
| 01/31/23 | 10.15 | &nbsp;&nbsp;0.09 | (0.20) | (0.11) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.04 | (1.08) | 236563 | 0.76 | 0.76 | 0.87 | 115 |
| 01/31/24 | 10.04 | &nbsp;&nbsp;0.31 | &nbsp;&nbsp;0.13 | &nbsp;&nbsp;0.44 | (0.10) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.10) | 10.38 | &nbsp;&nbsp;4.38 | 228009 | 0.76 | 0.76 | 3.07 | 47 |
| 01/31/25 | 10.38 | &nbsp;&nbsp;0.48 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;0.52 | (0.39) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.39) | 10.51 | &nbsp;&nbsp;5.07 | 220071 | 0.78 | 0.78 | 4.52 | 118 |
| 07/31/25@ | 10.51 | &nbsp;&nbsp;0.21 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 10.73 | &nbsp;&nbsp;2.09 | 222713 | &nbsp;&nbsp;0.77(3) | &nbsp;&nbsp;0.77(3) | &nbsp;&nbsp;&nbsp;4.01(3) | 59 |
| **SA Large Cap Growth Index Portfolio — Class 1** | **SA Large Cap Growth Index Portfolio — Class 1** | **SA Large Cap Growth Index Portfolio — Class 1** | **SA Large Cap Growth Index Portfolio — Class 1** | **SA Large Cap Growth Index Portfolio — Class 1** | **SA Large Cap Growth Index Portfolio — Class 1** | **SA Large Cap Growth Index Portfolio — Class 1** | **SA Large Cap Growth Index Portfolio — Class 1** | **SA Large Cap Growth Index Portfolio — Class 1** | **SA Large Cap Growth Index Portfolio — Class 1** | **SA Large Cap Growth Index Portfolio — Class 1** | **SA Large Cap Growth Index Portfolio — Class 1** | **SA Large Cap Growth Index Portfolio — Class 1** | **SA Large Cap Growth Index Portfolio — Class 1** | **SA Large Cap Growth Index Portfolio — Class 1** |
| 01/31/21 | 19.16 | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;5.40 | &nbsp;&nbsp;5.55 | (0.26) | (0.51) | (0.77) | 23.94 | 29.12 | 295788 | 0.36 | 0.35 | 0.73 | 32 |
| 01/31/22 | 23.94 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;5.09 | &nbsp;&nbsp;5.19 | (0.17) | (1.56) | (1.73) | 27.40 | 21.21 | 300040 | 0.36 | 0.35 | 0.38 | 31 |
| 01/31/23 | 27.40 | &nbsp;&nbsp;0.14 | (5.58) | (5.44) | (0.10) | (3.27) | (3.37) | 18.59 | (18.85) | 241019 | 0.37 | 0.35 | 0.64 | 39 |
| 01/31/24 | 18.59 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;4.57 | &nbsp;&nbsp;4.76 | (0.10) | (0.49) | (0.59) | 22.76 | 25.99 | 435365 | 0.37 | 0.35 | 0.90 | 55 |
| 01/31/25 | 22.76 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;7.93 | &nbsp;&nbsp;8.02 | (0.15) | (0.90) | (1.05) | 29.73 | &nbsp;&nbsp;&nbsp;35.37(4) | 602810 | 0.36 | 0.35 | 0.33 | 58 |
| 07/31/25@ | 29.73 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;2.77 | &nbsp;&nbsp;2.82 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 32.55 | &nbsp;&nbsp;9.49 | 659013 | &nbsp;&nbsp;0.36(3) | &nbsp;&nbsp;0.35(3) | &nbsp;&nbsp;&nbsp;0.32(3) | 12 |
| **SA Large Cap Growth Index Portfolio — Class 3** | **SA Large Cap Growth Index Portfolio — Class 3** | **SA Large Cap Growth Index Portfolio — Class 3** | **SA Large Cap Growth Index Portfolio — Class 3** | **SA Large Cap Growth Index Portfolio — Class 3** | **SA Large Cap Growth Index Portfolio — Class 3** | **SA Large Cap Growth Index Portfolio — Class 3** | **SA Large Cap Growth Index Portfolio — Class 3** | **SA Large Cap Growth Index Portfolio — Class 3** | **SA Large Cap Growth Index Portfolio — Class 3** | **SA Large Cap Growth Index Portfolio — Class 3** | **SA Large Cap Growth Index Portfolio — Class 3** | **SA Large Cap Growth Index Portfolio — Class 3** | **SA Large Cap Growth Index Portfolio — Class 3** | **SA Large Cap Growth Index Portfolio — Class 3** |
| 01/31/21 | 19.12 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;5.38 | &nbsp;&nbsp;5.47 | (0.21) | (0.51) | (0.72) | 23.87 | 28.79 | &nbsp;&nbsp;&nbsp;16655 | 0.60 | 0.60 | 0.45 | 32 |
| 01/31/22 | 23.87 | &nbsp;&nbsp;0.03 | &nbsp;&nbsp;5.08 | &nbsp;&nbsp;5.11 | (0.15) | (1.56) | (1.71) | 27.27 | 20.91 | &nbsp;&nbsp;&nbsp;31767 | 0.61 | 0.60 | 0.11 | 31 |
| 01/31/23 | 27.27 | &nbsp;&nbsp;0.09 | (5.56) | (5.47) | (0.06) | (3.27) | (3.33) | 18.47 | (19.07) | &nbsp;&nbsp;&nbsp;38667 | 0.62 | 0.60 | 0.40 | 39 |
| 01/31/24 | 18.47 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;4.54 | &nbsp;&nbsp;4.68 | (0.06) | (0.49) | (0.55) | 22.60 | 25.70 | &nbsp;&nbsp;&nbsp;52268 | 0.62 | 0.60 | 0.66 | 55 |
| 01/31/25 | 22.60 | &nbsp;&nbsp;0.02 | &nbsp;&nbsp;7.87 | &nbsp;&nbsp;7.89 | (0.11) | (0.90) | (1.01) | 29.48 | &nbsp;&nbsp;&nbsp;35.02(4) | &nbsp;&nbsp;&nbsp;75262 | 0.61 | 0.60 | 0.09 | 58 |
| 07/31/25@ | 29.48 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;2.75 | &nbsp;&nbsp;2.76 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 32.24 | &nbsp;&nbsp;9.36 | &nbsp;&nbsp;&nbsp;80824 | &nbsp;&nbsp;0.61(3) | &nbsp;&nbsp;0.60(3) | &nbsp;&nbsp;&nbsp;0.07(3) | 12 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | Annualized |
| (4) | The Portfolio's performance figure was increased by 0.14% from reimbursement of an investment violation. |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA Large Cap Index Portfolio — Class 1** | **SA Large Cap Index Portfolio — Class 1** | **SA Large Cap Index Portfolio — Class 1** | **SA Large Cap Index Portfolio — Class 1** | **SA Large Cap Index Portfolio — Class 1** | **SA Large Cap Index Portfolio — Class 1** | **SA Large Cap Index Portfolio — Class 1** | **SA Large Cap Index Portfolio — Class 1** | **SA Large Cap Index Portfolio — Class 1** | **SA Large Cap Index Portfolio — Class 1** | **SA Large Cap Index Portfolio — Class 1** | **SA Large Cap Index Portfolio — Class 1** | **SA Large Cap Index Portfolio — Class 1** | **SA Large Cap Index Portfolio — Class 1** | **SA Large Cap Index Portfolio — Class 1** |
| 01/31/21 | $26.09 | $0.43 | $3.95 | $4.38 | $(0.43) | $(0.40) | $(0.83) | $29.64 | 16.92% | $2910408 | 0.41% | 0.27% | 1.65% | &nbsp;&nbsp;7% |
| 01/31/22 | 29.64 | 0.38 | &nbsp;&nbsp;6.45 | &nbsp;&nbsp;6.83 | (0.46) | (0.59) | (1.05) | 35.42 | 22.92 | 3318184 | 0.39 | 0.25 | 1.10 | 9 |
| 01/31/23 | 35.42 | 0.43 | (3.62) | (3.19) | (0.41) | (1.85) | (2.26) | 29.97 | (8.43) | 2773017 | 0.40 | 0.26 | 1.35 | 2 |
| 01/31/24 | 29.97 | 0.43 | &nbsp;&nbsp;5.49 | &nbsp;&nbsp;5.92 | (0.45) | (1.32) | (1.77) | 34.12 | 20.44 | 2999320 | 0.41 | 0.27 | 1.36 | 2 |
| 01/31/25 | 34.12 | 0.42 | &nbsp;&nbsp;8.43 | &nbsp;&nbsp;8.85 | (0.49) | (1.95) | (2.44) | 40.53 | 26.04 | 3216777 | 0.39 | 0.25 | 1.10 | 3 |
| 07/31/25@ | 40.53 | 0.21 | &nbsp;&nbsp;2.02 | &nbsp;&nbsp;2.23 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 42.76 | 5.50 | 3265136 | &nbsp;&nbsp;0.40(3) | &nbsp;&nbsp;0.26(3) | &nbsp;&nbsp;1.09(3) | 7 |
| **SA Large Cap Index Portfolio — Class 3** | **SA Large Cap Index Portfolio — Class 3** | **SA Large Cap Index Portfolio — Class 3** | **SA Large Cap Index Portfolio — Class 3** | **SA Large Cap Index Portfolio — Class 3** | **SA Large Cap Index Portfolio — Class 3** | **SA Large Cap Index Portfolio — Class 3** | **SA Large Cap Index Portfolio — Class 3** | **SA Large Cap Index Portfolio — Class 3** | **SA Large Cap Index Portfolio — Class 3** | **SA Large Cap Index Portfolio — Class 3** | **SA Large Cap Index Portfolio — Class 3** | **SA Large Cap Index Portfolio — Class 3** | **SA Large Cap Index Portfolio — Class 3** | **SA Large Cap Index Portfolio — Class 3** |
| 01/31/21 | 26.05 | 0.36 | &nbsp;&nbsp;3.94 | &nbsp;&nbsp;4.30 | (0.39) | (0.40) | (0.79) | 29.56 | 16.64 | &nbsp;&nbsp;&nbsp;&nbsp;35693 | 0.66 | 0.52 | 1.38 | 7 |
| 01/31/22 | 29.56 | 0.29 | &nbsp;&nbsp;6.44 | &nbsp;&nbsp;6.73 | (0.43) | (0.59) | (1.02) | 35.27 | 22.62 | &nbsp;&nbsp;&nbsp;&nbsp;71748 | 0.64 | 0.50 | 0.84 | 9 |
| 01/31/23 | 35.27 | 0.34 | (3.60) | (3.26) | (0.35) | (1.85) | (2.20) | 29.81 | (8.68) | &nbsp;&nbsp;&nbsp;&nbsp;81202 | 0.66 | 0.52 | 1.10 | 2 |
| 01/31/24 | 29.81 | 0.35 | &nbsp;&nbsp;5.46 | &nbsp;&nbsp;5.81 | (0.39) | (1.32) | (1.71) | 33.91 | 20.15 | &nbsp;&nbsp;&nbsp;108260 | 0.66 | 0.52 | 1.10 | 2 |
| 01/31/25 | 33.91 | 0.33 | &nbsp;&nbsp;8.36 | &nbsp;&nbsp;8.69 | (0.41) | (1.95) | (2.36) | 40.24 | 25.73 | &nbsp;&nbsp;&nbsp;129211 | 0.64 | 0.50 | 0.85 | 3 |
| 07/31/25@ | 40.24 | 0.16 | &nbsp;&nbsp;2.00 | &nbsp;&nbsp;2.16 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 42.40 | 5.37 | &nbsp;&nbsp;&nbsp;134145 | &nbsp;&nbsp;0.65(3) | &nbsp;&nbsp;0.51(3) | &nbsp;&nbsp;0.84(3) | 7 |
| **SA Large Cap Value Index Portfolio — Class 1** | **SA Large Cap Value Index Portfolio — Class 1** | **SA Large Cap Value Index Portfolio — Class 1** | **SA Large Cap Value Index Portfolio — Class 1** | **SA Large Cap Value Index Portfolio — Class 1** | **SA Large Cap Value Index Portfolio — Class 1** | **SA Large Cap Value Index Portfolio — Class 1** | **SA Large Cap Value Index Portfolio — Class 1** | **SA Large Cap Value Index Portfolio — Class 1** | **SA Large Cap Value Index Portfolio — Class 1** | **SA Large Cap Value Index Portfolio — Class 1** | **SA Large Cap Value Index Portfolio — Class 1** | **SA Large Cap Value Index Portfolio — Class 1** | **SA Large Cap Value Index Portfolio — Class 1** | **SA Large Cap Value Index Portfolio — Class 1** |
| 01/31/21 | 17.61 | 0.45 | (0.09) | &nbsp;&nbsp;0.36 | (0.36) | (1.48) | (1.84) | 16.13 | 2.41 | &nbsp;&nbsp;&nbsp;285441 | 0.37 | 0.35 | 2.85 | 29 |
| 01/31/22 | 16.13 | 0.33 | &nbsp;&nbsp;3.59 | &nbsp;&nbsp;3.92 | (0.44) | (0.24) | (0.68) | 19.37 | 24.29 | &nbsp;&nbsp;&nbsp;319358 | 0.36 | 0.35 | 1.73 | 36 |
| 01/31/23 | 19.37 | 0.34 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;0.35 | (0.35) | (1.48) | (1.83) | 17.89 | 2.74 | &nbsp;&nbsp;&nbsp;284161 | 0.36 | 0.35 | 1.89 | 42 |
| 01/31/24 | 17.89 | 0.30 | &nbsp;&nbsp;2.01 | &nbsp;&nbsp;2.31 | (0.29) | (1.54) | (1.83) | 18.37 | 14.15 | &nbsp;&nbsp;&nbsp;397683 | 0.37 | 0.35 | 1.67 | 51 |
| 01/31/25 | 18.37 | 0.36 | &nbsp;&nbsp;2.39 | &nbsp;&nbsp;2.75 | (0.22) | (1.62) | (1.84) | 19.28 | 14.82 | &nbsp;&nbsp;&nbsp;549007 | 0.36 | 0.35 | 1.84 | 48 |
| 07/31/25@ | 19.28 | 0.16 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;0.21 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 19.49 | 1.09 | &nbsp;&nbsp;&nbsp;576389 | &nbsp;&nbsp;0.36(3) | &nbsp;&nbsp;0.35(3) | &nbsp;&nbsp;1.70(3) | 9 |
| **SA Large Cap Value Index Portfolio — Class 3** | **SA Large Cap Value Index Portfolio — Class 3** | **SA Large Cap Value Index Portfolio — Class 3** | **SA Large Cap Value Index Portfolio — Class 3** | **SA Large Cap Value Index Portfolio — Class 3** | **SA Large Cap Value Index Portfolio — Class 3** | **SA Large Cap Value Index Portfolio — Class 3** | **SA Large Cap Value Index Portfolio — Class 3** | **SA Large Cap Value Index Portfolio — Class 3** | **SA Large Cap Value Index Portfolio — Class 3** | **SA Large Cap Value Index Portfolio — Class 3** | **SA Large Cap Value Index Portfolio — Class 3** | **SA Large Cap Value Index Portfolio — Class 3** | **SA Large Cap Value Index Portfolio — Class 3** | **SA Large Cap Value Index Portfolio — Class 3** |
| 01/31/21 | 17.60 | 0.39 | (0.08) | &nbsp;&nbsp;0.31 | (0.35) | (1.48) | (1.83) | 16.08 | 2.10 | &nbsp;&nbsp;&nbsp;&nbsp;12905 | 0.62 | 0.60 | 2.57 | 29 |
| 01/31/22 | 16.08 | 0.27 | &nbsp;&nbsp;3.60 | &nbsp;&nbsp;3.87 | (0.43) | (0.24) | (0.67) | 19.28 | 24.03 | &nbsp;&nbsp;&nbsp;&nbsp;31593 | 0.61 | 0.60 | 1.46 | 36 |
| 01/31/23 | 19.28 | 0.29 | (0.00) | &nbsp;&nbsp;0.29 | (0.32) | (1.48) | (1.80) | 17.77 | 2.45 | &nbsp;&nbsp;&nbsp;&nbsp;47147 | 0.61 | 0.60 | 1.63 | 42 |
| 01/31/24 | 17.77 | 0.26 | &nbsp;&nbsp;1.99 | &nbsp;&nbsp;2.25 | (0.25) | (1.54) | (1.79) | 18.23 | 13.93 | &nbsp;&nbsp;&nbsp;&nbsp;59548 | 0.62 | 0.60 | 1.44 | 51 |
| 01/31/25 | 18.23 | 0.31 | &nbsp;&nbsp;2.36 | &nbsp;&nbsp;2.67 | (0.18) | (1.62) | (1.80) | 19.10 | 14.50 | &nbsp;&nbsp;&nbsp;&nbsp;73718 | 0.61 | 0.60 | 1.59 | 48 |
| 07/31/25@ | 19.10 | 0.13 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;0.19 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 19.29 | 0.99 | &nbsp;&nbsp;&nbsp;&nbsp;76380 | &nbsp;&nbsp;0.61(3) | &nbsp;&nbsp;0.60(3) | &nbsp;&nbsp;1.45(3) | 9 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | Annualized |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA MFS Large Cap Growth Portfolio — Class 1(3)** | **SA MFS Large Cap Growth Portfolio — Class 1(3)** | **SA MFS Large Cap Growth Portfolio — Class 1(3)** | **SA MFS Large Cap Growth Portfolio — Class 1(3)** | **SA MFS Large Cap Growth Portfolio — Class 1(3)** | **SA MFS Large Cap Growth Portfolio — Class 1(3)** | **SA MFS Large Cap Growth Portfolio — Class 1(3)** | **SA MFS Large Cap Growth Portfolio — Class 1(3)** | **SA MFS Large Cap Growth Portfolio — Class 1(3)** | **SA MFS Large Cap Growth Portfolio — Class 1(3)** | **SA MFS Large Cap Growth Portfolio — Class 1(3)** | **SA MFS Large Cap Growth Portfolio — Class 1(3)** | **SA MFS Large Cap Growth Portfolio — Class 1(3)** | **SA MFS Large Cap Growth Portfolio — Class 1(3)** | **SA MFS Large Cap Growth Portfolio — Class 1(3)** |
| 01/31/21 | $13.73 | $0.04 | $3.80 | $3.84 | $(0.09) | $(1.39) | $(1.48) | $16.09 | &nbsp;&nbsp;28.66% | $572522 | 0.68% | 0.68% | &nbsp;&nbsp;0.25% | 60% |
| 01/31/22 | 16.09 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;3.20 | &nbsp;&nbsp;3.21 | (0.04) | (2.06) | (2.10) | 17.20 | 19.12 | 560053 | 0.68 | 0.68 | 0.06 | 49 |
| 01/31/23 | 17.20 | &nbsp;&nbsp;0.07 | (3.42) | (3.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.97) | (2.97) | 10.88 | (17.83) | 456948 | 0.70 | 0.70 | 0.50 | 52 |
| 01/31/24 | 10.88 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;3.69 | &nbsp;&nbsp;3.70 | (0.06) | (0.22) | (0.28) | 14.30 | 34.36 | 450389 | 0.70 | 0.70 | 0.12 | 43 |
| 01/31/25 | 14.30 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;4.96 | &nbsp;&nbsp;4.97 | (0.01) | (2.01) | (2.02) | 17.25 | 35.19 | 411743 | 0.69 | 0.69 | 0.04 | 35 |
| 07/31/25@ | 17.25 | &nbsp;&nbsp;0.00 | &nbsp;&nbsp;1.10 | &nbsp;&nbsp;1.10 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 18.35 | &nbsp;&nbsp;6.38 | 569361 | &nbsp;&nbsp;0.68(4) | &nbsp;&nbsp;0.68(4) | &nbsp;&nbsp;&nbsp;0.04(4) | &nbsp;&nbsp;36(5) |
| **SA MFS Large Cap Growth Portfolio — Class 2(3)** | **SA MFS Large Cap Growth Portfolio — Class 2(3)** | **SA MFS Large Cap Growth Portfolio — Class 2(3)** | **SA MFS Large Cap Growth Portfolio — Class 2(3)** | **SA MFS Large Cap Growth Portfolio — Class 2(3)** | **SA MFS Large Cap Growth Portfolio — Class 2(3)** | **SA MFS Large Cap Growth Portfolio — Class 2(3)** | **SA MFS Large Cap Growth Portfolio — Class 2(3)** | **SA MFS Large Cap Growth Portfolio — Class 2(3)** | **SA MFS Large Cap Growth Portfolio — Class 2(3)** | **SA MFS Large Cap Growth Portfolio — Class 2(3)** | **SA MFS Large Cap Growth Portfolio — Class 2(3)** | **SA MFS Large Cap Growth Portfolio — Class 2(3)** | **SA MFS Large Cap Growth Portfolio — Class 2(3)** | **SA MFS Large Cap Growth Portfolio — Class 2(3)** |
| 01/31/21 | 13.68 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;3.78 | &nbsp;&nbsp;3.79 | (0.07) | (1.39) | (1.46) | 16.01 | 28.35 | &nbsp;&nbsp;&nbsp;&nbsp;3584 | 0.83 | 0.83 | 0.10 | 60 |
| 01/31/22 | 16.01 | (0.02) | &nbsp;&nbsp;3.19 | &nbsp;&nbsp;3.17 | (0.01) | (2.06) | (2.07) | 17.11 | 19.01 | &nbsp;&nbsp;&nbsp;&nbsp;3599 | 0.83 | 0.83 | (0.09) | 49 |
| 01/31/23 | 17.11 | &nbsp;&nbsp;0.05 | (3.40) | (3.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.97) | (2.97) | 10.79 | (17.93) | &nbsp;&nbsp;&nbsp;&nbsp;2693 | 0.84 | 0.84 | 0.34 | 52 |
| 01/31/24 | 10.79 | (0.01) | &nbsp;&nbsp;3.66 | &nbsp;&nbsp;3.65 | (0.05) | (0.22) | (0.27) | 14.17 | 34.08 | &nbsp;&nbsp;&nbsp;&nbsp;3117 | 0.85 | 0.85 | (0.04) | 43 |
| 01/31/25 | 14.17 | (0.02) | &nbsp;&nbsp;4.93 | &nbsp;&nbsp;4.91 | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.01) | (2.01) | 17.07 | 35.05 | &nbsp;&nbsp;&nbsp;&nbsp;3648 | 0.84 | 0.84 | (0.11) | 35 |
| 07/31/25@ | 17.07 | (0.01) | &nbsp;&nbsp;1.08 | &nbsp;&nbsp;1.07 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 18.14 | &nbsp;&nbsp;6.27 | &nbsp;&nbsp;&nbsp;32703 | &nbsp;&nbsp;0.83(4) | &nbsp;&nbsp;0.83(4) | (0.11)(4) | &nbsp;&nbsp;36(5) |
| **SA MFS Large Cap Growth Portfolio — Class 3(3)** | **SA MFS Large Cap Growth Portfolio — Class 3(3)** | **SA MFS Large Cap Growth Portfolio — Class 3(3)** | **SA MFS Large Cap Growth Portfolio — Class 3(3)** | **SA MFS Large Cap Growth Portfolio — Class 3(3)** | **SA MFS Large Cap Growth Portfolio — Class 3(3)** | **SA MFS Large Cap Growth Portfolio — Class 3(3)** | **SA MFS Large Cap Growth Portfolio — Class 3(3)** | **SA MFS Large Cap Growth Portfolio — Class 3(3)** | **SA MFS Large Cap Growth Portfolio — Class 3(3)** | **SA MFS Large Cap Growth Portfolio — Class 3(3)** | **SA MFS Large Cap Growth Portfolio — Class 3(3)** | **SA MFS Large Cap Growth Portfolio — Class 3(3)** | **SA MFS Large Cap Growth Portfolio — Class 3(3)** | **SA MFS Large Cap Growth Portfolio — Class 3(3)** |
| 01/31/21 | 13.57 | &nbsp;&nbsp;0.00 | &nbsp;&nbsp;3.75 | &nbsp;&nbsp;3.75 | (0.06) | (1.39) | (1.45) | 15.87 | 28.26 | 157366 | 0.93 | 0.93 | 0.00 | 60 |
| 01/31/22 | 15.87 | (0.04) | &nbsp;&nbsp;3.16 | &nbsp;&nbsp;3.12 | (0.00) | (2.06) | (2.06) | 16.93 | 18.85 | 179000 | 0.93 | 0.93 | (0.20) | 49 |
| 01/31/23 | 16.93 | &nbsp;&nbsp;0.03 | (3.36) | (3.33) | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.97) | (2.97) | 10.63 | (18.01) | 165104 | 0.95 | 0.95 | 0.25 | 52 |
| 01/31/24 | 10.63 | (0.02) | &nbsp;&nbsp;3.61 | &nbsp;&nbsp;3.59 | (0.04) | (0.22) | (0.26) | 13.96 | 34.01 | 195497 | 0.95 | 0.95 | (0.14) | 43 |
| 01/31/25 | 13.96 | (0.03) | &nbsp;&nbsp;4.84 | &nbsp;&nbsp;4.81 | &nbsp;&nbsp;&nbsp;&nbsp;— | (2.01) | (2.01) | 16.76 | 34.86 | 231349 | 0.94 | 0.94 | (0.21) | 35 |
| 07/31/25@ | 16.76 | (0.02) | &nbsp;&nbsp;1.06 | &nbsp;&nbsp;1.04 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 17.80 | &nbsp;&nbsp;6.21 | 255886 | &nbsp;&nbsp;0.93(4) | &nbsp;&nbsp;0.93(4) | (0.21)(4) | &nbsp;&nbsp;36(5) |
| **SA MFS Massachusetts Investors Trust Portfolio — Class 1** | **SA MFS Massachusetts Investors Trust Portfolio — Class 1** | **SA MFS Massachusetts Investors Trust Portfolio — Class 1** | **SA MFS Massachusetts Investors Trust Portfolio — Class 1** | **SA MFS Massachusetts Investors Trust Portfolio — Class 1** | **SA MFS Massachusetts Investors Trust Portfolio — Class 1** | **SA MFS Massachusetts Investors Trust Portfolio — Class 1** | **SA MFS Massachusetts Investors Trust Portfolio — Class 1** | **SA MFS Massachusetts Investors Trust Portfolio — Class 1** | **SA MFS Massachusetts Investors Trust Portfolio — Class 1** | **SA MFS Massachusetts Investors Trust Portfolio — Class 1** | **SA MFS Massachusetts Investors Trust Portfolio — Class 1** | **SA MFS Massachusetts Investors Trust Portfolio — Class 1** | **SA MFS Massachusetts Investors Trust Portfolio — Class 1** | **SA MFS Massachusetts Investors Trust Portfolio — Class 1** |
| 01/31/21 | 23.86 | &nbsp;&nbsp;0.18 | &nbsp;&nbsp;2.99 | &nbsp;&nbsp;3.17 | (0.17) | (2.17) | (2.34) | 24.69 | 13.62 | 688586 | 0.71 | 0.70 | 0.75 | 20 |
| 01/31/22 | 24.69 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;5.30 | &nbsp;&nbsp;5.47 | (0.20) | (1.16) | (1.36) | 28.80 | 21.89 | 713950 | 0.71 | 0.67 | 0.58 | 18 |
| 01/31/23 | 28.80 | &nbsp;&nbsp;0.20 | (2.79) | (2.59) | (0.31) | (5.46) | (5.77) | 20.44 | (7.16) | 595459 | 0.71 | 0.67 | 0.82 | 10 |
| 01/31/24 | 20.44 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;2.61 | &nbsp;&nbsp;2.78 | (0.19) | (1.83) | (2.02) | 21.20 | 14.72 | 572701 | 0.72 | 0.68 | 0.83 | 22 |
| 01/31/25 | 21.20 | &nbsp;&nbsp;0.16 | &nbsp;&nbsp;4.40 | &nbsp;&nbsp;4.56 | (0.25) | (3.56) | (3.81) | 21.95 | 21.67 | 409497 | 0.72 | 0.68 | 0.68 | 24 |
| 07/31/25@ | 21.95 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;0.91 | &nbsp;&nbsp;0.97 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 22.92 | &nbsp;&nbsp;4.42 | 339432 | &nbsp;&nbsp;0.74(4) | &nbsp;&nbsp;0.70(4) | &nbsp;&nbsp;&nbsp;0.61(4) | 19 |
| **SA MFS Massachusetts Investors Trust Portfolio — Class 2** | **SA MFS Massachusetts Investors Trust Portfolio — Class 2** | **SA MFS Massachusetts Investors Trust Portfolio — Class 2** | **SA MFS Massachusetts Investors Trust Portfolio — Class 2** | **SA MFS Massachusetts Investors Trust Portfolio — Class 2** | **SA MFS Massachusetts Investors Trust Portfolio — Class 2** | **SA MFS Massachusetts Investors Trust Portfolio — Class 2** | **SA MFS Massachusetts Investors Trust Portfolio — Class 2** | **SA MFS Massachusetts Investors Trust Portfolio — Class 2** | **SA MFS Massachusetts Investors Trust Portfolio — Class 2** | **SA MFS Massachusetts Investors Trust Portfolio — Class 2** | **SA MFS Massachusetts Investors Trust Portfolio — Class 2** | **SA MFS Massachusetts Investors Trust Portfolio — Class 2** | **SA MFS Massachusetts Investors Trust Portfolio — Class 2** | **SA MFS Massachusetts Investors Trust Portfolio — Class 2** |
| 01/31/21 | 23.88 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;3.00 | &nbsp;&nbsp;3.14 | (0.13) | (2.17) | (2.30) | 24.72 | 13.47 | &nbsp;&nbsp;&nbsp;&nbsp;7682 | 0.86 | 0.85 | 0.61 | 20 |
| 01/31/22 | 24.72 | &nbsp;&nbsp;0.11 | &nbsp;&nbsp;5.32 | &nbsp;&nbsp;5.43 | (0.16) | (1.16) | (1.32) | 28.83 | 21.72 | &nbsp;&nbsp;&nbsp;&nbsp;8016 | 0.86 | 0.82 | 0.40 | 18 |
| 01/31/23 | 28.83 | &nbsp;&nbsp;0.16 | (2.80) | (2.64) | (0.26) | (5.46) | (5.72) | 20.47 | (7.35) | &nbsp;&nbsp;&nbsp;&nbsp;6499 | 0.86 | 0.82 | 0.67 | 10 |
| 01/31/24 | 20.47 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;2.62 | &nbsp;&nbsp;2.76 | (0.15) | (1.83) | (1.98) | 21.25 | 14.59 | &nbsp;&nbsp;&nbsp;&nbsp;6307 | 0.87 | 0.83 | 0.68 | 22 |
| 01/31/25 | 21.25 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;4.40 | &nbsp;&nbsp;4.52 | (0.21) | (3.56) | (3.77) | 22.00 | 21.44 | &nbsp;&nbsp;&nbsp;&nbsp;6783 | 0.87 | 0.83 | 0.53 | 24 |
| 07/31/25@ | 22.00 | &nbsp;&nbsp;0.05 | &nbsp;&nbsp;0.91 | &nbsp;&nbsp;0.96 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 22.96 | &nbsp;&nbsp;4.36 | &nbsp;&nbsp;&nbsp;&nbsp;6579 | &nbsp;&nbsp;0.89(4) | &nbsp;&nbsp;0.85(4) | &nbsp;&nbsp;&nbsp;0.45(4) | 19 |
| **SA MFS Massachusetts Investors Trust Portfolio — Class 3** | **SA MFS Massachusetts Investors Trust Portfolio — Class 3** | **SA MFS Massachusetts Investors Trust Portfolio — Class 3** | **SA MFS Massachusetts Investors Trust Portfolio — Class 3** | **SA MFS Massachusetts Investors Trust Portfolio — Class 3** | **SA MFS Massachusetts Investors Trust Portfolio — Class 3** | **SA MFS Massachusetts Investors Trust Portfolio — Class 3** | **SA MFS Massachusetts Investors Trust Portfolio — Class 3** | **SA MFS Massachusetts Investors Trust Portfolio — Class 3** | **SA MFS Massachusetts Investors Trust Portfolio — Class 3** | **SA MFS Massachusetts Investors Trust Portfolio — Class 3** | **SA MFS Massachusetts Investors Trust Portfolio — Class 3** | **SA MFS Massachusetts Investors Trust Portfolio — Class 3** | **SA MFS Massachusetts Investors Trust Portfolio — Class 3** | **SA MFS Massachusetts Investors Trust Portfolio — Class 3** |
| 01/31/21 | 23.73 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;2.97 | &nbsp;&nbsp;3.09 | (0.10) | (2.17) | (2.27) | 24.55 | 13.37 | 368899 | 0.96 | 0.95 | 0.51 | 20 |
| 01/31/22 | 24.55 | &nbsp;&nbsp;0.08 | &nbsp;&nbsp;5.28 | &nbsp;&nbsp;5.36 | (0.13) | (1.16) | (1.29) | 28.62 | 21.60 | 375411 | 0.96 | 0.92 | 0.27 | 18 |
| 01/31/23 | 28.62 | &nbsp;&nbsp;0.14 | (2.78) | (2.64) | (0.23) | (5.46) | (5.69) | 20.29 | (7.43) | 317849 | 0.96 | 0.92 | 0.57 | 10 |
| 01/31/24 | 20.29 | &nbsp;&nbsp;0.12 | &nbsp;&nbsp;2.60 | &nbsp;&nbsp;2.72 | (0.13) | (1.83) | (1.96) | 21.05 | 14.51 | 311148 | 0.97 | 0.93 | 0.59 | 22 |
| 01/31/25 | 21.05 | &nbsp;&nbsp;0.10 | &nbsp;&nbsp;4.34 | &nbsp;&nbsp;4.44 | (0.18) | (3.56) | (3.74) | 21.75 | 21.27 | 308719 | 0.97 | 0.93 | 0.43 | 24 |
| 07/31/25@ | 21.75 | &nbsp;&nbsp;0.04 | &nbsp;&nbsp;0.90 | &nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 22.69 | &nbsp;&nbsp;4.32 | 297622 | &nbsp;&nbsp;0.99(4) | &nbsp;&nbsp;0.95(4) | &nbsp;&nbsp;&nbsp;0.35(4) | 19 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | Prior to April 28, 2025, the Portfolio was known as SA MFS Blue Chip Growth Portfolio. |
| (4) | Annualized |
| (5) | Excludes purchases/sales due to merger. |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA MFS Total Return Portfolio — Class 1** | **SA MFS Total Return Portfolio — Class 1** | **SA MFS Total Return Portfolio — Class 1** | **SA MFS Total Return Portfolio — Class 1** | **SA MFS Total Return Portfolio — Class 1** | **SA MFS Total Return Portfolio — Class 1** | **SA MFS Total Return Portfolio — Class 1** | **SA MFS Total Return Portfolio — Class 1** | **SA MFS Total Return Portfolio — Class 1** | **SA MFS Total Return Portfolio — Class 1** | **SA MFS Total Return Portfolio — Class 1** | **SA MFS Total Return Portfolio — Class 1** | **SA MFS Total Return Portfolio — Class 1** | **SA MFS Total Return Portfolio — Class 1** |
| 01/31/21 | $19.18 | $0.33 | $1.39 | $1.72 | $(0.39) | $(0.59) | $(0.98) | $19.92 | &nbsp;&nbsp;9.12% | $156898 | 0.71% | 1.72% | 39% |
| 01/31/22 | 19.92 | 0.27 | &nbsp;&nbsp;2.23 | &nbsp;&nbsp;2.50 | (0.33) | (1.15) | (1.48) | 20.94 | 12.43 | 157462 | 0.70 | 1.27 | 27 |
| 01/31/23 | 20.94 | 0.35 | (1.30) | (0.95) | (0.31) | (1.81) | (2.12) | 17.87 | (3.73) | 134358 | 0.71 | 1.82 | 29 |
| 01/31/24 | 17.87 | 0.42 | &nbsp;&nbsp;0.39 | &nbsp;&nbsp;0.81 | (0.35) | (0.60) | (0.95) | 17.73 | 5.04 | 127041 | 0.72 | 2.38 | 23 |
| 01/31/25 | 17.73 | 0.46 | &nbsp;&nbsp;1.47 | &nbsp;&nbsp;1.93 | (0.47) | (0.73) | (1.20) | 18.46 | 10.83 | 120050 | 0.71 | 2.45 | &nbsp;&nbsp;30(3) |
| 07/31/25@ | 18.46 | 0.23 | &nbsp;&nbsp;0.32 | &nbsp;&nbsp;0.55 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 19.01 | 2.98 | 113258 | &nbsp;&nbsp;0.71(4) | &nbsp;&nbsp;2.48(4) | &nbsp;&nbsp;14(3) |
| **SA MFS Total Return Portfolio — Class 2** | **SA MFS Total Return Portfolio — Class 2** | **SA MFS Total Return Portfolio — Class 2** | **SA MFS Total Return Portfolio — Class 2** | **SA MFS Total Return Portfolio — Class 2** | **SA MFS Total Return Portfolio — Class 2** | **SA MFS Total Return Portfolio — Class 2** | **SA MFS Total Return Portfolio — Class 2** | **SA MFS Total Return Portfolio — Class 2** | **SA MFS Total Return Portfolio — Class 2** | **SA MFS Total Return Portfolio — Class 2** | **SA MFS Total Return Portfolio — Class 2** | **SA MFS Total Return Portfolio — Class 2** | **SA MFS Total Return Portfolio — Class 2** |
| 01/31/21 | 19.20 | 0.30 | &nbsp;&nbsp;1.40 | &nbsp;&nbsp;1.70 | (0.36) | (0.59) | (0.95) | 19.95 | 8.99 | &nbsp;&nbsp;&nbsp;22123 | 0.86 | 1.57 | 39 |
| 01/31/22 | 19.95 | 0.24 | &nbsp;&nbsp;2.22 | &nbsp;&nbsp;2.46 | (0.30) | (1.15) | (1.45) | 20.96 | 12.20 | &nbsp;&nbsp;&nbsp;21897 | 0.85 | 1.12 | 27 |
| 01/31/23 | 20.96 | 0.32 | (1.28) | (0.96) | (0.28) | (1.81) | (2.09) | 17.91 | (3.82) | &nbsp;&nbsp;&nbsp;18531 | 0.86 | 1.67 | 29 |
| 01/31/24 | 17.91 | 0.39 | &nbsp;&nbsp;0.39 | &nbsp;&nbsp;0.78 | (0.32) | (0.60) | (0.92) | 17.77 | 4.84 | &nbsp;&nbsp;&nbsp;17366 | 0.87 | 2.23 | 23 |
| 01/31/25 | 17.77 | 0.43 | &nbsp;&nbsp;1.48 | &nbsp;&nbsp;1.91 | (0.44) | (0.73) | (1.17) | 18.51 | 10.69 | &nbsp;&nbsp;&nbsp;17267 | 0.86 | 2.30 | &nbsp;&nbsp;30(3) |
| 07/31/25@ | 18.51 | 0.21 | &nbsp;&nbsp;0.33 | &nbsp;&nbsp;0.54 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 19.05 | 2.92 | &nbsp;&nbsp;&nbsp;16199 | &nbsp;&nbsp;0.86(4) | &nbsp;&nbsp;2.33(4) | &nbsp;&nbsp;14(3) |
| **SA MFS Total Return Portfolio — Class 3** | **SA MFS Total Return Portfolio — Class 3** | **SA MFS Total Return Portfolio — Class 3** | **SA MFS Total Return Portfolio — Class 3** | **SA MFS Total Return Portfolio — Class 3** | **SA MFS Total Return Portfolio — Class 3** | **SA MFS Total Return Portfolio — Class 3** | **SA MFS Total Return Portfolio — Class 3** | **SA MFS Total Return Portfolio — Class 3** | **SA MFS Total Return Portfolio — Class 3** | **SA MFS Total Return Portfolio — Class 3** | **SA MFS Total Return Portfolio — Class 3** | **SA MFS Total Return Portfolio — Class 3** | **SA MFS Total Return Portfolio — Class 3** |
| 01/31/21 | 19.12 | 0.27 | &nbsp;&nbsp;1.41 | &nbsp;&nbsp;1.68 | (0.35) | (0.59) | (0.94) | 19.86 | 8.90 | 346502 | 0.96 | 1.46 | 39 |
| 01/31/22 | 19.86 | 0.22 | &nbsp;&nbsp;2.21 | &nbsp;&nbsp;2.43 | (0.28) | (1.15) | (1.43) | 20.86 | 12.13 | 383906 | 0.95 | 1.01 | 27 |
| 01/31/23 | 20.86 | 0.30 | (1.29) | (0.99) | (0.26) | (1.81) | (2.07) | 17.80 | (3.99) | 350201 | 0.96 | 1.57 | 29 |
| 01/31/24 | 17.80 | 0.37 | &nbsp;&nbsp;0.41 | &nbsp;&nbsp;0.78 | (0.31) | (0.60) | (0.91) | 17.67 | 4.83 | 347038 | 0.97 | 2.13 | 23 |
| 01/31/25 | 17.67 | 0.41 | &nbsp;&nbsp;1.45 | &nbsp;&nbsp;1.86 | (0.42) | (0.73) | (1.15) | 18.38 | 10.48 | 353505 | 0.96 | 2.20 | &nbsp;&nbsp;30(3) |
| 07/31/25@ | 18.38 | 0.20 | &nbsp;&nbsp;0.33 | &nbsp;&nbsp;0.53 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 18.91 | 2.88 | 351546 | &nbsp;&nbsp;0.96(4) | &nbsp;&nbsp;2.23(4) | &nbsp;&nbsp;14(3) |
| **SA Mid Cap Index Portfolio — Class 1** | **SA Mid Cap Index Portfolio — Class 1** | **SA Mid Cap Index Portfolio — Class 1** | **SA Mid Cap Index Portfolio — Class 1** | **SA Mid Cap Index Portfolio — Class 1** | **SA Mid Cap Index Portfolio — Class 1** | **SA Mid Cap Index Portfolio — Class 1** | **SA Mid Cap Index Portfolio — Class 1** | **SA Mid Cap Index Portfolio — Class 1** | **SA Mid Cap Index Portfolio — Class 1** | **SA Mid Cap Index Portfolio — Class 1** | **SA Mid Cap Index Portfolio — Class 1** | **SA Mid Cap Index Portfolio — Class 1** | **SA Mid Cap Index Portfolio — Class 1** |
| 01/31/21 | 11.58 | 0.12 | &nbsp;&nbsp;1.93 | &nbsp;&nbsp;2.05 | (0.13) | (0.11) | (0.24) | 13.39 | 17.90 | 352306 | 0.36 | 1.05 | 23 |
| 01/31/22 | 13.39 | 0.12 | &nbsp;&nbsp;1.76 | &nbsp;&nbsp;1.88 | (0.11) | (0.68) | (0.79) | 14.48 | 13.55 | 394230 | 0.36 | 0.81 | 20 |
| 01/31/23 | 14.48 | 0.15 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;0.16 | (0.12) | (0.94) | (1.06) | 13.58 | 1.93 | 380657 | 0.36 | 1.14 | 11 |
| 01/31/24 | 13.58 | 0.16 | &nbsp;&nbsp;0.36 | &nbsp;&nbsp;0.52 | (0.16) | (0.33) | (0.49) | 13.61 | 4.33 | 373134 | 0.37 | 1.24 | 19 |
| 01/31/25 | 13.61 | 0.17 | &nbsp;&nbsp;2.55 | &nbsp;&nbsp;2.72 | (0.17) | (0.15) | (0.32) | 16.01 | 19.92 | 420174 | 0.36 | 1.11 | 21 |
| 07/31/25@ | 16.01 | 0.09 | (0.44) | (0.35) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 15.66 | (2.19) | 407391 | &nbsp;&nbsp;0.36(4) | &nbsp;&nbsp;1.25(4) | 10 |
| **SA Mid Cap Index Portfolio — Class 3** | **SA Mid Cap Index Portfolio — Class 3** | **SA Mid Cap Index Portfolio — Class 3** | **SA Mid Cap Index Portfolio — Class 3** | **SA Mid Cap Index Portfolio — Class 3** | **SA Mid Cap Index Portfolio — Class 3** | **SA Mid Cap Index Portfolio — Class 3** | **SA Mid Cap Index Portfolio — Class 3** | **SA Mid Cap Index Portfolio — Class 3** | **SA Mid Cap Index Portfolio — Class 3** | **SA Mid Cap Index Portfolio — Class 3** | **SA Mid Cap Index Portfolio — Class 3** | **SA Mid Cap Index Portfolio — Class 3** | **SA Mid Cap Index Portfolio — Class 3** |
| 01/31/21 | 11.54 | 0.08 | &nbsp;&nbsp;1.94 | &nbsp;&nbsp;2.02 | (0.12) | (0.11) | (0.23) | 13.33 | 17.70 | &nbsp;&nbsp;&nbsp;23546 | 0.61 | 0.78 | 23 |
| 01/31/22 | 13.33 | 0.08 | &nbsp;&nbsp;1.75 | &nbsp;&nbsp;1.83 | (0.10) | (0.68) | (0.78) | 14.38 | 13.22 | &nbsp;&nbsp;&nbsp;48587 | 0.61 | 0.56 | 20 |
| 01/31/23 | 14.38 | 0.12 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;0.13 | (0.10) | (0.94) | (1.04) | 13.47 | 1.69 | &nbsp;&nbsp;&nbsp;61744 | 0.61 | 0.90 | 11 |
| 01/31/24 | 13.47 | 0.13 | &nbsp;&nbsp;0.36 | &nbsp;&nbsp;0.49 | (0.14) | (0.33) | (0.47) | 13.49 | 4.08 | &nbsp;&nbsp;&nbsp;73355 | 0.62 | 0.99 | 19 |
| 01/31/25 | 13.49 | 0.13 | &nbsp;&nbsp;2.52 | &nbsp;&nbsp;2.65 | (0.14) | (0.15) | (0.29) | 15.85 | 19.58 | &nbsp;&nbsp;&nbsp;89701 | 0.61 | 0.86 | 21 |
| 07/31/25@ | 15.85 | 0.07 | (0.44) | (0.37) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 15.48 | (2.33) | &nbsp;&nbsp;&nbsp;90018 | &nbsp;&nbsp;0.61(4) | &nbsp;&nbsp;0.99(4) | 10 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | Excludes TBA transactions. Beginning with the period ended January 31, 2025, portfolio turnover rates including TBA transactions are being added as Supplemental Ratios in the table below. |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Supplemental Ratios** |  |  |  |  |  |  |
| **Portfolio Turnover (including TBA transactions)** | &nbsp;&nbsp;**01/21** | &nbsp;&nbsp;**01/22** | &nbsp;&nbsp;**01/23** | &nbsp;&nbsp;**01/24** | &nbsp;&nbsp;**01/25** | &nbsp;&nbsp;**07/25** |
| SA MFS Total Return Portfolio<br>| &nbsp;&nbsp;N/A | &nbsp;&nbsp;N/A | &nbsp;&nbsp;N/A | &nbsp;&nbsp;N/A | &nbsp;&nbsp;59% | &nbsp;&nbsp;23% |

---

(4) Annualized

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA Morgan Stanley International Equities Portfolio — Class 1** | **SA Morgan Stanley International Equities Portfolio — Class 1** | **SA Morgan Stanley International Equities Portfolio — Class 1** | **SA Morgan Stanley International Equities Portfolio — Class 1** | **SA Morgan Stanley International Equities Portfolio — Class 1** | **SA Morgan Stanley International Equities Portfolio — Class 1** | **SA Morgan Stanley International Equities Portfolio — Class 1** | **SA Morgan Stanley International Equities Portfolio — Class 1** | **SA Morgan Stanley International Equities Portfolio — Class 1** | **SA Morgan Stanley International Equities Portfolio — Class 1** | **SA Morgan Stanley International Equities Portfolio — Class 1** | **SA Morgan Stanley International Equities Portfolio — Class 1** | **SA Morgan Stanley International Equities Portfolio — Class 1** | **SA Morgan Stanley International Equities Portfolio — Class 1** | **SA Morgan Stanley International Equities Portfolio — Class 1** |
| 01/31/21 | $10.02 | $0.14 | $0.93 | $1.07 | $(0.19) | $(0.16) | $(0.35) | $10.74 | &nbsp;&nbsp;10.84% | $333985 | 0.89% | 0.88% | 1.39% | &nbsp;&nbsp;23% |
| 01/31/22 | 10.74 | 0.22 | &nbsp;&nbsp;0.30 | &nbsp;&nbsp;0.52 | (0.14) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.14) | 11.12 | &nbsp;&nbsp;4.80 | 283663 | 0.89 | 0.84 | 1.91 | 24 |
| 01/31/23 | 11.12 | 0.16 | (0.84) | (0.68) | (0.28) | (1.05) | (1.33) | &nbsp;&nbsp;&nbsp;9.11 | (3.78) | 236933 | 0.91 | 0.86 | 1.65 | 36 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;9.11 | 0.16 | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;0.45 | (0.14) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.14) | &nbsp;&nbsp;&nbsp;9.42 | &nbsp;&nbsp;5.11 | 228422 | 0.91 | 0.86 | 1.73 | 31 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;9.42 | 0.17 | &nbsp;&nbsp;0.72 | &nbsp;&nbsp;0.89 | (0.18) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.18) | 10.13 | &nbsp;&nbsp;9.52 | 202409 | 0.91 | 0.86 | 1.71 | 54 |
| 07/31/25@ | 10.13 | 0.12 | &nbsp;&nbsp;0.88 | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.13 | &nbsp;&nbsp;9.87 | 227992 | &nbsp;&nbsp;0.92(3) | &nbsp;&nbsp;0.87(3) | &nbsp;&nbsp;2.28(3) | 30 |
| **SA Morgan Stanley International Equities Portfolio — Class 2** | **SA Morgan Stanley International Equities Portfolio — Class 2** | **SA Morgan Stanley International Equities Portfolio — Class 2** | **SA Morgan Stanley International Equities Portfolio — Class 2** | **SA Morgan Stanley International Equities Portfolio — Class 2** | **SA Morgan Stanley International Equities Portfolio — Class 2** | **SA Morgan Stanley International Equities Portfolio — Class 2** | **SA Morgan Stanley International Equities Portfolio — Class 2** | **SA Morgan Stanley International Equities Portfolio — Class 2** | **SA Morgan Stanley International Equities Portfolio — Class 2** | **SA Morgan Stanley International Equities Portfolio — Class 2** | **SA Morgan Stanley International Equities Portfolio — Class 2** | **SA Morgan Stanley International Equities Portfolio — Class 2** | **SA Morgan Stanley International Equities Portfolio — Class 2** | **SA Morgan Stanley International Equities Portfolio — Class 2** |
| 01/31/21 | &nbsp;&nbsp;&nbsp;9.98 | 0.12 | &nbsp;&nbsp;0.92 | &nbsp;&nbsp;1.04 | (0.17) | (0.16) | (0.33) | 10.69 | 10.60 | &nbsp;&nbsp;&nbsp;&nbsp;8709 | 1.04 | 1.03 | 1.26 | 23 |
| 01/31/22 | 10.69 | 0.20 | &nbsp;&nbsp;0.30 | &nbsp;&nbsp;0.50 | (0.12) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.12) | 11.07 | &nbsp;&nbsp;4.68 | &nbsp;&nbsp;&nbsp;&nbsp;8577 | 1.04 | 0.99 | 1.71 | 24 |
| 01/31/23 | 11.07 | 0.14 | (0.83) | (0.69) | (0.26) | (1.05) | (1.31) | &nbsp;&nbsp;&nbsp;9.07 | (3.95) | &nbsp;&nbsp;&nbsp;&nbsp;6487 | 1.06 | 1.01 | 1.52 | 36 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;9.07 | 0.15 | &nbsp;&nbsp;0.29 | &nbsp;&nbsp;0.44 | (0.13) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.13) | &nbsp;&nbsp;&nbsp;9.38 | &nbsp;&nbsp;4.95 | &nbsp;&nbsp;&nbsp;&nbsp;5760 | 1.06 | 1.01 | 1.59 | 31 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;9.38 | 0.15 | &nbsp;&nbsp;0.74 | &nbsp;&nbsp;0.89 | (0.17) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.17) | 10.10 | &nbsp;&nbsp;&nbsp;&nbsp;9.48(4) | &nbsp;&nbsp;&nbsp;&nbsp;5449 | 1.06 | 1.01 | 1.55 | 54 |
| 07/31/25@ | 10.10 | 0.11 | &nbsp;&nbsp;0.87 | &nbsp;&nbsp;0.98 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.08 | &nbsp;&nbsp;9.70 | &nbsp;&nbsp;&nbsp;&nbsp;5304 | &nbsp;&nbsp;1.07(3) | &nbsp;&nbsp;1.02(3) | &nbsp;&nbsp;2.11(3) | 30 |
| **SA Morgan Stanley International Equities Portfolio — Class 3** | **SA Morgan Stanley International Equities Portfolio — Class 3** | **SA Morgan Stanley International Equities Portfolio — Class 3** | **SA Morgan Stanley International Equities Portfolio — Class 3** | **SA Morgan Stanley International Equities Portfolio — Class 3** | **SA Morgan Stanley International Equities Portfolio — Class 3** | **SA Morgan Stanley International Equities Portfolio — Class 3** | **SA Morgan Stanley International Equities Portfolio — Class 3** | **SA Morgan Stanley International Equities Portfolio — Class 3** | **SA Morgan Stanley International Equities Portfolio — Class 3** | **SA Morgan Stanley International Equities Portfolio — Class 3** | **SA Morgan Stanley International Equities Portfolio — Class 3** | **SA Morgan Stanley International Equities Portfolio — Class 3** | **SA Morgan Stanley International Equities Portfolio — Class 3** | **SA Morgan Stanley International Equities Portfolio — Class 3** |
| 01/31/21 | &nbsp;&nbsp;&nbsp;9.96 | 0.11 | &nbsp;&nbsp;0.91 | &nbsp;&nbsp;1.02 | (0.16) | (0.16) | (0.32) | 10.66 | 10.43 | 135498 | 1.14 | 1.13 | 1.14 | 23 |
| 01/31/22 | 10.66 | 0.18 | &nbsp;&nbsp;0.32 | &nbsp;&nbsp;0.50 | (0.12) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.12) | 11.04 | &nbsp;&nbsp;4.61 | 144053 | 1.14 | 1.09 | 1.59 | 24 |
| 01/31/23 | 11.04 | 0.13 | (0.83) | (0.70) | (0.25) | (1.05) | (1.30) | &nbsp;&nbsp;&nbsp;9.04 | (4.04) | 120600 | 1.16 | 1.11 | 1.39 | 36 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;9.04 | 0.13 | &nbsp;&nbsp;0.30 | &nbsp;&nbsp;0.43 | (0.12) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.12) | &nbsp;&nbsp;&nbsp;9.35 | &nbsp;&nbsp;4.86 | 112574 | 1.16 | 1.11 | 1.48 | 31 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;9.35 | 0.14 | &nbsp;&nbsp;0.73 | &nbsp;&nbsp;0.87 | (0.16) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.16) | 10.06 | &nbsp;&nbsp;&nbsp;&nbsp;9.31(4) | 115025 | 1.16 | 1.11 | 1.43 | 54 |
| 07/31/25@ | 10.06 | 0.11 | &nbsp;&nbsp;0.87 | &nbsp;&nbsp;0.98 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.04 | &nbsp;&nbsp;9.74 | 110745 | &nbsp;&nbsp;1.17(3) | &nbsp;&nbsp;1.12(3) | &nbsp;&nbsp;2.01(3) | 30 |
| **SA PIMCO Global Bond Opportunities Portfolio — Class 1** | **SA PIMCO Global Bond Opportunities Portfolio — Class 1** | **SA PIMCO Global Bond Opportunities Portfolio — Class 1** | **SA PIMCO Global Bond Opportunities Portfolio — Class 1** | **SA PIMCO Global Bond Opportunities Portfolio — Class 1** | **SA PIMCO Global Bond Opportunities Portfolio — Class 1** | **SA PIMCO Global Bond Opportunities Portfolio — Class 1** | **SA PIMCO Global Bond Opportunities Portfolio — Class 1** | **SA PIMCO Global Bond Opportunities Portfolio — Class 1** | **SA PIMCO Global Bond Opportunities Portfolio — Class 1** | **SA PIMCO Global Bond Opportunities Portfolio — Class 1** | **SA PIMCO Global Bond Opportunities Portfolio — Class 1** | **SA PIMCO Global Bond Opportunities Portfolio — Class 1** | **SA PIMCO Global Bond Opportunities Portfolio — Class 1** | **SA PIMCO Global Bond Opportunities Portfolio — Class 1** |
| 01/31/21 | 11.41 | 0.10 | &nbsp;&nbsp;0.85 | &nbsp;&nbsp;0.95 | (0.07) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.07) | 12.29 | &nbsp;&nbsp;8.38 | &nbsp;&nbsp;&nbsp;90255 | 0.77 | 0.77 | 0.84 | 396 |
| 01/31/22 | 12.29 | 0.07 | (1.05) | (0.98) | (0.30) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.30) | 11.01 | (8.04) | &nbsp;&nbsp;&nbsp;87817 | 0.72 | 0.72 | 0.57 | 417 |
| 01/31/23 | 11.01 | 0.12 | (1.72) | (1.60) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;9.41 | (14.53) | &nbsp;&nbsp;&nbsp;69263 | 0.86 | 0.86 | 1.21 | 470 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;9.41 | 0.20 | (0.28) | (0.08) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;9.33 | (0.85) | &nbsp;&nbsp;&nbsp;57446 | &nbsp;&nbsp;0.89(5) | &nbsp;&nbsp;0.89(5) | 2.16 | 315 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;9.33 | 0.28 | (0.15) | &nbsp;&nbsp;0.13 | (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.22) | &nbsp;&nbsp;&nbsp;9.24 | &nbsp;&nbsp;1.47 | &nbsp;&nbsp;&nbsp;47631 | &nbsp;&nbsp;1.01(6) | &nbsp;&nbsp;0.99(6) | 3.09 | &nbsp;&nbsp;282(7) |
| 07/31/25@ | &nbsp;&nbsp;&nbsp;9.24 | 0.19 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;0.33 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;9.57 | &nbsp;&nbsp;3.57 | &nbsp;&nbsp;&nbsp;48724 | &nbsp;&nbsp;&nbsp;&nbsp;0.94(3)(8) | &nbsp;&nbsp;&nbsp;&nbsp;0.92(3)(8) | &nbsp;&nbsp;4.00(3) | &nbsp;&nbsp;150(7) |
| **SA PIMCO Global Bond Opportunities Portfolio — Class 2** | **SA PIMCO Global Bond Opportunities Portfolio — Class 2** | **SA PIMCO Global Bond Opportunities Portfolio — Class 2** | **SA PIMCO Global Bond Opportunities Portfolio — Class 2** | **SA PIMCO Global Bond Opportunities Portfolio — Class 2** | **SA PIMCO Global Bond Opportunities Portfolio — Class 2** | **SA PIMCO Global Bond Opportunities Portfolio — Class 2** | **SA PIMCO Global Bond Opportunities Portfolio — Class 2** | **SA PIMCO Global Bond Opportunities Portfolio — Class 2** | **SA PIMCO Global Bond Opportunities Portfolio — Class 2** | **SA PIMCO Global Bond Opportunities Portfolio — Class 2** | **SA PIMCO Global Bond Opportunities Portfolio — Class 2** | **SA PIMCO Global Bond Opportunities Portfolio — Class 2** | **SA PIMCO Global Bond Opportunities Portfolio — Class 2** | **SA PIMCO Global Bond Opportunities Portfolio — Class 2** |
| 01/31/21 | 11.29 | 0.08 | &nbsp;&nbsp;0.84 | &nbsp;&nbsp;0.92 | (0.05) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.05) | 12.16 | &nbsp;&nbsp;8.20 | &nbsp;&nbsp;&nbsp;&nbsp;4762 | 0.92 | 0.92 | 0.68 | 396 |
| 01/31/22 | 12.16 | 0.05 | (1.03) | (0.98) | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | 10.90 | (8.13) | &nbsp;&nbsp;&nbsp;&nbsp;3938 | 0.87 | 0.87 | 0.42 | 417 |
| 01/31/23 | 10.90 | 0.10 | (1.70) | (1.60) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;9.30 | (14.68) | &nbsp;&nbsp;&nbsp;&nbsp;3018 | 1.01 | 1.01 | 1.05 | 470 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;9.30 | 0.18 | (0.27) | (0.09) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;9.21 | (0.97) | &nbsp;&nbsp;&nbsp;&nbsp;2759 | &nbsp;&nbsp;1.05(5) | &nbsp;&nbsp;1.05(5) | 2.01 | 315 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;9.21 | 0.27 | (0.16) | &nbsp;&nbsp;0.11 | (0.21) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.21) | &nbsp;&nbsp;&nbsp;9.11 | &nbsp;&nbsp;1.20 | &nbsp;&nbsp;&nbsp;&nbsp;2444 | &nbsp;&nbsp;1.15(6) | &nbsp;&nbsp;1.14(6) | 2.99 | &nbsp;&nbsp;282(7) |
| 07/31/25@ | &nbsp;&nbsp;&nbsp;9.11 | 0.18 | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;0.33 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;9.44 | &nbsp;&nbsp;3.62 | &nbsp;&nbsp;&nbsp;&nbsp;1936 | &nbsp;&nbsp;&nbsp;&nbsp;1.09(3)(8) | &nbsp;&nbsp;&nbsp;&nbsp;1.07(3)(8) | &nbsp;&nbsp;3.87(3) | &nbsp;&nbsp;150(7) |
| **SA PIMCO Global Bond Opportunities Portfolio — Class 3** | **SA PIMCO Global Bond Opportunities Portfolio — Class 3** | **SA PIMCO Global Bond Opportunities Portfolio — Class 3** | **SA PIMCO Global Bond Opportunities Portfolio — Class 3** | **SA PIMCO Global Bond Opportunities Portfolio — Class 3** | **SA PIMCO Global Bond Opportunities Portfolio — Class 3** | **SA PIMCO Global Bond Opportunities Portfolio — Class 3** | **SA PIMCO Global Bond Opportunities Portfolio — Class 3** | **SA PIMCO Global Bond Opportunities Portfolio — Class 3** | **SA PIMCO Global Bond Opportunities Portfolio — Class 3** | **SA PIMCO Global Bond Opportunities Portfolio — Class 3** | **SA PIMCO Global Bond Opportunities Portfolio — Class 3** | **SA PIMCO Global Bond Opportunities Portfolio — Class 3** | **SA PIMCO Global Bond Opportunities Portfolio — Class 3** | **SA PIMCO Global Bond Opportunities Portfolio — Class 3** |
| 01/31/21 | 11.16 | 0.07 | &nbsp;&nbsp;0.84 | &nbsp;&nbsp;0.91 | (0.05) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.05) | 12.02 | &nbsp;&nbsp;8.12 | 302737 | 1.02 | 1.02 | 0.58 | 396 |
| 01/31/22 | 12.02 | 0.04 | (1.03) | (0.99) | (0.27) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.27) | 10.76 | (8.26) | 305711 | 0.97 | 0.97 | 0.32 | 417 |
| 01/31/23 | 10.76 | 0.09 | (1.68) | (1.59) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;9.17 | (14.78) | 244152 | 1.12 | 1.12 | 0.96 | 470 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;9.17 | 0.17 | (0.27) | (0.10) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;9.07 | (1.09) | 233928 | &nbsp;&nbsp;1.14(5) | &nbsp;&nbsp;1.14(5) | 1.91 | 315 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;9.07 | 0.26 | (0.16) | &nbsp;&nbsp;0.10 | (0.20) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.20) | &nbsp;&nbsp;&nbsp;8.97 | &nbsp;&nbsp;1.15 | 233443 | &nbsp;&nbsp;1.26(6) | &nbsp;&nbsp;1.24(6) | 2.91 | &nbsp;&nbsp;282(7) |
| 07/31/25@ | &nbsp;&nbsp;&nbsp;8.97 | 0.17 | &nbsp;&nbsp;0.15 | &nbsp;&nbsp;0.32 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;9.29 | &nbsp;&nbsp;3.57 | 229527 | &nbsp;&nbsp;&nbsp;&nbsp;1.19(3)(8) | &nbsp;&nbsp;&nbsp;&nbsp;1.17(3)(8) | &nbsp;&nbsp;3.75(3) | &nbsp;&nbsp;150(7) |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | Annualized |
| (4) | The Portfolio's performance figure was increased by 0.11% from reimbursement of an investment violation. |
| (5) | Includes interest expense of 0.07% relating to derivative or other investment activity |
| (6) | Includes interest expense of 0.18% relating to derivative or other investment activity. |
| (7) | Beginning with the period ended January 31, 2025, portfolio turnover rates included in this table exclude TBA transactions. Prior period portfolio turnover rates include TBA transactions. See the Supplemental Ratios table below for the current period ratios including TBA transactions. |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Supplemental Ratios** |  |  |  |  |  |  |
| **Portfolio Turnover (including TBA transactions)** | &nbsp;&nbsp;**01/21** | &nbsp;&nbsp;**01/22** | &nbsp;&nbsp;**01/23** | &nbsp;&nbsp;**01/24** | &nbsp;&nbsp;**01/25** | &nbsp;&nbsp;**07/25** |
| SA PIMCO Global Bond Opportunities Portfolio<br>| &nbsp;&nbsp;N/A | &nbsp;&nbsp;N/A | &nbsp;&nbsp;N/A | &nbsp;&nbsp;N/A | &nbsp;&nbsp;846% | &nbsp;&nbsp;311% |

---

(8) Includes interest expense of 0.14% relating to derivative or other investment activity.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA PIMCO RAE International Value Portfolio — Class 1** | **SA PIMCO RAE International Value Portfolio — Class 1** | **SA PIMCO RAE International Value Portfolio — Class 1** | **SA PIMCO RAE International Value Portfolio — Class 1** | **SA PIMCO RAE International Value Portfolio — Class 1** | **SA PIMCO RAE International Value Portfolio — Class 1** | **SA PIMCO RAE International Value Portfolio — Class 1** | **SA PIMCO RAE International Value Portfolio — Class 1** | **SA PIMCO RAE International Value Portfolio — Class 1** | **SA PIMCO RAE International Value Portfolio — Class 1** | **SA PIMCO RAE International Value Portfolio — Class 1** | **SA PIMCO RAE International Value Portfolio — Class 1** | **SA PIMCO RAE International Value Portfolio — Class 1** | **SA PIMCO RAE International Value Portfolio — Class 1** | **SA PIMCO RAE International Value Portfolio — Class 1** |
| 01/31/21 | $14.15 | $0.28 | $(0.34) | $(0.06) | $(0.35) | $— | $(0.35) | $13.74 | (0.32)% | $293873 | 0.87% | 0.87% | 2.18% | 163% |
| 01/31/22 | 13.74 | 0.40 | &nbsp;&nbsp;0.97 | &nbsp;&nbsp;1.37 | (0.34) | (0.10) | (0.44) | 14.67 | 9.93 | 250389 | 0.89 | 0.84 | 2.67 | 41 |
| 01/31/23 | 14.67 | 0.52 | (0.98) | (0.46) | (0.57) | (0.68) | (1.25) | 12.96 | (1.83) | 177002 | 0.90 | 0.83 | 3.93 | 46 |
| 01/31/24 | 12.96 | 0.42 | &nbsp;&nbsp;0.59 | &nbsp;&nbsp;1.01 | (0.59) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.59) | 13.38 | 8.21 | 135148 | 0.90 | 0.82 | 3.19 | 42 |
| 01/31/25 | 13.38 | 0.45 | &nbsp;&nbsp;0.51 | &nbsp;&nbsp;0.96 | (0.55) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.55) | 13.79 | 7.12 | &nbsp;&nbsp;&nbsp;94327 | 0.91 | 0.83 | 3.22 | 51 |
| 07/31/25@ | 13.79 | 0.39 | &nbsp;&nbsp;1.58 | &nbsp;&nbsp;1.97 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 15.76 | 14.29 | 107817 | &nbsp;&nbsp;0.92(3) | &nbsp;&nbsp;0.84(3) | &nbsp;&nbsp;5.19(3) | 26 |
| **SA PIMCO RAE International Value Portfolio — Class 2** | **SA PIMCO RAE International Value Portfolio — Class 2** | **SA PIMCO RAE International Value Portfolio — Class 2** | **SA PIMCO RAE International Value Portfolio — Class 2** | **SA PIMCO RAE International Value Portfolio — Class 2** | **SA PIMCO RAE International Value Portfolio — Class 2** | **SA PIMCO RAE International Value Portfolio — Class 2** | **SA PIMCO RAE International Value Portfolio — Class 2** | **SA PIMCO RAE International Value Portfolio — Class 2** | **SA PIMCO RAE International Value Portfolio — Class 2** | **SA PIMCO RAE International Value Portfolio — Class 2** | **SA PIMCO RAE International Value Portfolio — Class 2** | **SA PIMCO RAE International Value Portfolio — Class 2** | **SA PIMCO RAE International Value Portfolio — Class 2** | **SA PIMCO RAE International Value Portfolio — Class 2** |
| 01/31/21 | 14.16 | 0.26 | (0.34) | (0.08) | (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.33) | 13.75 | (0.49) | &nbsp;&nbsp;&nbsp;&nbsp;9377 | 1.02 | 1.02 | 2.02 | 163 |
| 01/31/22 | 13.75 | 0.37 | &nbsp;&nbsp;0.98 | &nbsp;&nbsp;1.35 | (0.32) | (0.10) | (0.42) | 14.68 | 9.77 | &nbsp;&nbsp;&nbsp;&nbsp;9544 | 1.04 | 0.99 | 2.48 | 41 |
| 01/31/23 | 14.68 | 0.50 | (0.99) | (0.49) | (0.54) | (0.68) | (1.22) | 12.97 | (2.02) | &nbsp;&nbsp;&nbsp;&nbsp;8024 | 1.05 | 0.98 | 3.83 | 46 |
| 01/31/24 | 12.97 | 0.38 | &nbsp;&nbsp;0.62 | &nbsp;&nbsp;1.00 | (0.57) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.57) | 13.40 | 8.10 | &nbsp;&nbsp;&nbsp;&nbsp;7601 | 1.05 | 0.97 | 2.91 | 42 |
| 01/31/25 | 13.40 | 0.42 | &nbsp;&nbsp;0.52 | &nbsp;&nbsp;0.94 | (0.53) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.53) | 13.81 | 6.94 | &nbsp;&nbsp;&nbsp;&nbsp;7487 | 1.06 | 0.98 | 3.00 | 51 |
| 07/31/25@ | 13.81 | 0.37 | &nbsp;&nbsp;1.59 | &nbsp;&nbsp;1.96 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 15.77 | 14.19 | &nbsp;&nbsp;&nbsp;&nbsp;7798 | &nbsp;&nbsp;1.07(3) | &nbsp;&nbsp;0.99(3) | &nbsp;&nbsp;5.03(3) | 26 |
| **SA PIMCO RAE International Value Portfolio — Class 3** | **SA PIMCO RAE International Value Portfolio — Class 3** | **SA PIMCO RAE International Value Portfolio — Class 3** | **SA PIMCO RAE International Value Portfolio — Class 3** | **SA PIMCO RAE International Value Portfolio — Class 3** | **SA PIMCO RAE International Value Portfolio — Class 3** | **SA PIMCO RAE International Value Portfolio — Class 3** | **SA PIMCO RAE International Value Portfolio — Class 3** | **SA PIMCO RAE International Value Portfolio — Class 3** | **SA PIMCO RAE International Value Portfolio — Class 3** | **SA PIMCO RAE International Value Portfolio — Class 3** | **SA PIMCO RAE International Value Portfolio — Class 3** | **SA PIMCO RAE International Value Portfolio — Class 3** | **SA PIMCO RAE International Value Portfolio — Class 3** | **SA PIMCO RAE International Value Portfolio — Class 3** |
| 01/31/21 | 14.12 | 0.24 | (0.34) | (0.10) | (0.31) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.31) | 13.71 | (0.58) | 426980 | 1.12 | 1.12 | 1.88 | 163 |
| 01/31/22 | 13.71 | 0.36 | &nbsp;&nbsp;0.97 | &nbsp;&nbsp;1.33 | (0.31) | (0.10) | (0.41) | 14.63 | 9.62 | 428687 | 1.14 | 1.09 | 2.39 | 41 |
| 01/31/23 | 14.63 | 0.49 | (0.99) | (0.50) | (0.52) | (0.68) | (1.20) | 12.93 | (2.10) | 349450 | 1.15 | 1.08 | 3.73 | 46 |
| 01/31/24 | 12.93 | 0.37 | &nbsp;&nbsp;0.62 | &nbsp;&nbsp;0.99 | (0.56) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.56) | 13.36 | 7.99 | 325489 | 1.15 | 1.07 | 2.82 | 42 |
| 01/31/25 | 13.36 | 0.40 | &nbsp;&nbsp;0.52 | &nbsp;&nbsp;0.92 | (0.51) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.51) | 13.77 | 6.85 | 321247 | 1.16 | 1.08 | 2.89 | 51 |
| 07/31/25@ | 13.77 | 0.37 | &nbsp;&nbsp;1.57 | &nbsp;&nbsp;1.94 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 15.71 | 14.09 | 312853 | &nbsp;&nbsp;1.17(3) | &nbsp;&nbsp;1.09(3) | &nbsp;&nbsp;5.00(3) | 26 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | Annualized |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA PineBridge High-Yield Bond Portfolio — Class 1** | **SA PineBridge High-Yield Bond Portfolio — Class 1** | **SA PineBridge High-Yield Bond Portfolio — Class 1** | **SA PineBridge High-Yield Bond Portfolio — Class 1** | **SA PineBridge High-Yield Bond Portfolio — Class 1** | **SA PineBridge High-Yield Bond Portfolio — Class 1** | **SA PineBridge High-Yield Bond Portfolio — Class 1** | **SA PineBridge High-Yield Bond Portfolio — Class 1** | **SA PineBridge High-Yield Bond Portfolio — Class 1** | **SA PineBridge High-Yield Bond Portfolio — Class 1** | **SA PineBridge High-Yield Bond Portfolio — Class 1** | **SA PineBridge High-Yield Bond Portfolio — Class 1** | **SA PineBridge High-Yield Bond Portfolio — Class 1** | **SA PineBridge High-Yield Bond Portfolio — Class 1** | **SA PineBridge High-Yield Bond Portfolio — Class 1** |
| 01/31/21 | $5.48 | $0.29 | $0.13 | $0.42 | $(0.34) | $— | $(0.34) | $5.56 | &nbsp;&nbsp;7.87% | $141393 | 0.69% | 0.69% | 5.29% | 74% |
| 01/31/22 | &nbsp;&nbsp;&nbsp;5.56 | 0.28 | (0.09) | &nbsp;&nbsp;0.19 | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | &nbsp;&nbsp;&nbsp;5.46 | 3.37 | 141050 | 0.68 | 0.68 | 5.01 | 63 |
| 01/31/23 | &nbsp;&nbsp;&nbsp;5.46 | 0.30 | (0.53) | (0.23) | (0.30) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.30) | &nbsp;&nbsp;&nbsp;4.93 | (3.74) | 124374 | 0.71 | 0.71 | 6.00 | 31 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;4.93 | 0.36 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;0.60 | (0.34) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.34) | &nbsp;&nbsp;&nbsp;5.19 | 12.56 | 121139 | 0.72 | 0.72 | 7.06 | 38 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;5.19 | 0.34 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;0.43 | (0.37) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.37) | &nbsp;&nbsp;&nbsp;5.25 | 8.46 | 128004 | 0.72 | 0.72 | 6.38 | 39 |
| 07/31/25@ | &nbsp;&nbsp;&nbsp;5.25 | 0.17 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;5.42 | 3.24 | 133574 | &nbsp;&nbsp;0.73(3) | &nbsp;&nbsp;0.73(3) | &nbsp;&nbsp;6.51(3) | 23 |
| **SA PineBridge High-Yield Bond Portfolio — Class 2** | **SA PineBridge High-Yield Bond Portfolio — Class 2** | **SA PineBridge High-Yield Bond Portfolio — Class 2** | **SA PineBridge High-Yield Bond Portfolio — Class 2** | **SA PineBridge High-Yield Bond Portfolio — Class 2** | **SA PineBridge High-Yield Bond Portfolio — Class 2** | **SA PineBridge High-Yield Bond Portfolio — Class 2** | **SA PineBridge High-Yield Bond Portfolio — Class 2** | **SA PineBridge High-Yield Bond Portfolio — Class 2** | **SA PineBridge High-Yield Bond Portfolio — Class 2** | **SA PineBridge High-Yield Bond Portfolio — Class 2** | **SA PineBridge High-Yield Bond Portfolio — Class 2** | **SA PineBridge High-Yield Bond Portfolio — Class 2** | **SA PineBridge High-Yield Bond Portfolio — Class 2** | **SA PineBridge High-Yield Bond Portfolio — Class 2** |
| 01/31/21 | &nbsp;&nbsp;&nbsp;5.48 | 0.28 | &nbsp;&nbsp;0.13 | &nbsp;&nbsp;0.41 | (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.33) | &nbsp;&nbsp;&nbsp;5.56 | 7.69 | &nbsp;&nbsp;&nbsp;&nbsp;7120 | 0.84 | 0.84 | 5.15 | 74 |
| 01/31/22 | &nbsp;&nbsp;&nbsp;5.56 | 0.28 | (0.10) | &nbsp;&nbsp;0.18 | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | &nbsp;&nbsp;&nbsp;5.46 | 3.21 | &nbsp;&nbsp;&nbsp;&nbsp;6500 | 0.83 | 0.83 | 4.86 | 63 |
| 01/31/23 | &nbsp;&nbsp;&nbsp;5.46 | 0.30 | (0.54) | (0.24) | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | &nbsp;&nbsp;&nbsp;4.93 | (3.92) | &nbsp;&nbsp;&nbsp;&nbsp;5556 | 0.86 | 0.86 | 5.85 | 31 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;4.93 | 0.35 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;0.59 | (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.33) | &nbsp;&nbsp;&nbsp;5.19 | 12.36 | &nbsp;&nbsp;&nbsp;&nbsp;5402 | 0.87 | 0.87 | 6.92 | 38 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;5.19 | 0.33 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;0.42 | (0.36) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.36) | &nbsp;&nbsp;&nbsp;5.25 | 8.27 | &nbsp;&nbsp;&nbsp;&nbsp;5123 | 0.87 | 0.87 | 6.23 | 39 |
| 07/31/25@ | &nbsp;&nbsp;&nbsp;5.25 | 0.17 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;5.42 | 3.24 | &nbsp;&nbsp;&nbsp;&nbsp;5091 | &nbsp;&nbsp;0.88(3) | &nbsp;&nbsp;0.88(3) | &nbsp;&nbsp;6.37(3) | 23 |
| **SA PineBridge High-Yield Bond Portfolio — Class 3** | **SA PineBridge High-Yield Bond Portfolio — Class 3** | **SA PineBridge High-Yield Bond Portfolio — Class 3** | **SA PineBridge High-Yield Bond Portfolio — Class 3** | **SA PineBridge High-Yield Bond Portfolio — Class 3** | **SA PineBridge High-Yield Bond Portfolio — Class 3** | **SA PineBridge High-Yield Bond Portfolio — Class 3** | **SA PineBridge High-Yield Bond Portfolio — Class 3** | **SA PineBridge High-Yield Bond Portfolio — Class 3** | **SA PineBridge High-Yield Bond Portfolio — Class 3** | **SA PineBridge High-Yield Bond Portfolio — Class 3** | **SA PineBridge High-Yield Bond Portfolio — Class 3** | **SA PineBridge High-Yield Bond Portfolio — Class 3** | **SA PineBridge High-Yield Bond Portfolio — Class 3** | **SA PineBridge High-Yield Bond Portfolio — Class 3** |
| 01/31/21 | &nbsp;&nbsp;&nbsp;5.44 | 0.27 | &nbsp;&nbsp;0.14 | &nbsp;&nbsp;0.41 | (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.33) | &nbsp;&nbsp;&nbsp;5.52 | 7.64 | 148051 | 0.94 | 0.94 | 5.04 | 74 |
| 01/31/22 | &nbsp;&nbsp;&nbsp;5.52 | 0.27 | (0.09) | &nbsp;&nbsp;0.18 | (0.28) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.28) | &nbsp;&nbsp;&nbsp;5.42 | 3.15 | 145057 | 0.93 | 0.93 | 4.76 | 63 |
| 01/31/23 | &nbsp;&nbsp;&nbsp;5.42 | 0.29 | (0.53) | (0.24) | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | &nbsp;&nbsp;&nbsp;4.89 | (4.08) | 125148 | 0.96 | 0.96 | 5.74 | 31 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;4.89 | 0.34 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;0.58 | (0.32) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.32) | &nbsp;&nbsp;&nbsp;5.15 | 12.35 | 126822 | 0.97 | 0.97 | 6.82 | 38 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;5.15 | 0.32 | &nbsp;&nbsp;0.09 | &nbsp;&nbsp;0.41 | (0.36) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.36) | &nbsp;&nbsp;&nbsp;5.20 | 8.05 | 126964 | 0.97 | 0.97 | 6.13 | 39 |
| 07/31/25@ | &nbsp;&nbsp;&nbsp;5.20 | 0.16 | &nbsp;&nbsp;0.01 | &nbsp;&nbsp;0.17 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;5.37 | 3.27 | 123853 | &nbsp;&nbsp;0.98(3) | &nbsp;&nbsp;0.98(3) | &nbsp;&nbsp;6.27(3) | 23 |
| **SA Putnam International Value Portfolio — Class 1(4)** | **SA Putnam International Value Portfolio — Class 1(4)** | **SA Putnam International Value Portfolio — Class 1(4)** | **SA Putnam International Value Portfolio — Class 1(4)** | **SA Putnam International Value Portfolio — Class 1(4)** | **SA Putnam International Value Portfolio — Class 1(4)** | **SA Putnam International Value Portfolio — Class 1(4)** | **SA Putnam International Value Portfolio — Class 1(4)** | **SA Putnam International Value Portfolio — Class 1(4)** | **SA Putnam International Value Portfolio — Class 1(4)** | **SA Putnam International Value Portfolio — Class 1(4)** | **SA Putnam International Value Portfolio — Class 1(4)** | **SA Putnam International Value Portfolio — Class 1(4)** | **SA Putnam International Value Portfolio — Class 1(4)** | **SA Putnam International Value Portfolio — Class 1(4)** |
| 01/31/21 | &nbsp;&nbsp;&nbsp;9.70 | 0.19 | &nbsp;&nbsp;0.40 | &nbsp;&nbsp;0.59 | (0.22) | (0.02) | (0.24) | 10.05 | 6.22 | 166889 | 1.04 | 0.99 | 2.17 | 15 |
| 01/31/22 | 10.05 | 0.24 | &nbsp;&nbsp;1.48 | &nbsp;&nbsp;1.72 | (0.23) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.23) | 11.54 | 17.13 | 232954 | 1.01 | 0.96 | 2.17 | 20 |
| 01/31/23 | 11.54 | 0.30 | (0.39) | (0.09) | (0.19) | (0.52) | (0.71) | 10.74 | 0.35 | 246164 | 1.01 | 0.96 | 2.94 | 15 |
| 01/31/24 | 10.74 | 0.32 | &nbsp;&nbsp;0.59 | &nbsp;&nbsp;0.91 | (0.29) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.29) | 11.36 | 8.68 | 232830 | 1.01 | 0.96 | 2.94 | 13 |
| 01/31/25 | 11.36 | 0.33 | &nbsp;&nbsp;1.04 | &nbsp;&nbsp;1.37 | (0.41) | (0.41) | (0.82) | 11.91 | 12.03 | 184657 | 1.03 | 0.96 | 2.75 | 23 |
| 07/31/25@ | 11.91 | 0.26 | &nbsp;&nbsp;1.80 | &nbsp;&nbsp;2.06 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.97 | 17.30 | 214895 | &nbsp;&nbsp;1.03(3) | &nbsp;&nbsp;0.93(3) | &nbsp;&nbsp;3.98(3) | 16 |
| **SA Putnam International Value Portfolio — Class 2(4)** | **SA Putnam International Value Portfolio — Class 2(4)** | **SA Putnam International Value Portfolio — Class 2(4)** | **SA Putnam International Value Portfolio — Class 2(4)** | **SA Putnam International Value Portfolio — Class 2(4)** | **SA Putnam International Value Portfolio — Class 2(4)** | **SA Putnam International Value Portfolio — Class 2(4)** | **SA Putnam International Value Portfolio — Class 2(4)** | **SA Putnam International Value Portfolio — Class 2(4)** | **SA Putnam International Value Portfolio — Class 2(4)** | **SA Putnam International Value Portfolio — Class 2(4)** | **SA Putnam International Value Portfolio — Class 2(4)** | **SA Putnam International Value Portfolio — Class 2(4)** | **SA Putnam International Value Portfolio — Class 2(4)** | **SA Putnam International Value Portfolio — Class 2(4)** |
| 01/31/21 | &nbsp;&nbsp;&nbsp;9.75 | 0.18 | &nbsp;&nbsp;0.40 | &nbsp;&nbsp;0.58 | (0.20) | (0.02) | (0.22) | 10.11 | 6.11 | &nbsp;&nbsp;&nbsp;&nbsp;4340 | 1.19 | 1.14 | 2.07 | 15 |
| 01/31/22 | 10.11 | 0.25 | &nbsp;&nbsp;1.47 | &nbsp;&nbsp;1.72 | (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.22) | 11.61 | 16.98 | &nbsp;&nbsp;&nbsp;&nbsp;4567 | 1.16 | 1.11 | 2.15 | 20 |
| 01/31/23 | 11.61 | 0.27 | (0.37) | (0.10) | (0.17) | (0.52) | (0.69) | 10.82 | 0.27 | &nbsp;&nbsp;&nbsp;&nbsp;4719 | 1.16 | 1.11 | 2.70 | 15 |
| 01/31/24 | 10.82 | 0.31 | &nbsp;&nbsp;0.58 | &nbsp;&nbsp;0.89 | (0.27) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.27) | 11.44 | 8.45 | &nbsp;&nbsp;&nbsp;&nbsp;4615 | 1.16 | 1.11 | 2.77 | 13 |
| 01/31/25 | 11.44 | 0.31 | &nbsp;&nbsp;1.06 | &nbsp;&nbsp;1.37 | (0.40) | (0.41) | (0.81) | 12.00 | 11.87 | &nbsp;&nbsp;&nbsp;&nbsp;4602 | 1.18 | 1.11 | 2.53 | 23 |
| 07/31/25@ | 12.00 | 0.25 | &nbsp;&nbsp;1.82 | &nbsp;&nbsp;2.07 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 14.07 | 17.25 | &nbsp;&nbsp;&nbsp;&nbsp;4943 | &nbsp;&nbsp;1.18(3) | &nbsp;&nbsp;1.08(3) | &nbsp;&nbsp;3.82(3) | 16 |
| **SA Putnam International Value Portfolio — Class 3(4)** | **SA Putnam International Value Portfolio — Class 3(4)** | **SA Putnam International Value Portfolio — Class 3(4)** | **SA Putnam International Value Portfolio — Class 3(4)** | **SA Putnam International Value Portfolio — Class 3(4)** | **SA Putnam International Value Portfolio — Class 3(4)** | **SA Putnam International Value Portfolio — Class 3(4)** | **SA Putnam International Value Portfolio — Class 3(4)** | **SA Putnam International Value Portfolio — Class 3(4)** | **SA Putnam International Value Portfolio — Class 3(4)** | **SA Putnam International Value Portfolio — Class 3(4)** | **SA Putnam International Value Portfolio — Class 3(4)** | **SA Putnam International Value Portfolio — Class 3(4)** | **SA Putnam International Value Portfolio — Class 3(4)** | **SA Putnam International Value Portfolio — Class 3(4)** |
| 01/31/21 | &nbsp;&nbsp;&nbsp;9.73 | 0.17 | &nbsp;&nbsp;0.39 | &nbsp;&nbsp;0.56 | (0.19) | (0.02) | (0.21) | 10.08 | 5.92 | 104545 | 1.29 | 1.24 | 1.95 | 15 |
| 01/31/22 | 10.08 | 0.23 | &nbsp;&nbsp;1.48 | &nbsp;&nbsp;1.71 | (0.21) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.21) | 11.58 | 16.93 | 113344 | 1.26 | 1.21 | 2.03 | 20 |
| 01/31/23 | 11.58 | 0.27 | (0.38) | (0.11) | (0.16) | (0.52) | (0.68) | 10.79 | 0.12 | &nbsp;&nbsp;&nbsp;97880 | 1.26 | 1.21 | 2.66 | 15 |
| 01/31/24 | 10.79 | 0.29 | &nbsp;&nbsp;0.60 | &nbsp;&nbsp;0.89 | (0.26) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.26) | 11.42 | 8.44 | &nbsp;&nbsp;&nbsp;97957 | 1.26 | 1.21 | 2.67 | 13 |
| 01/31/25 | 11.42 | 0.29 | &nbsp;&nbsp;1.05 | &nbsp;&nbsp;1.34 | (0.38) | (0.41) | (0.79) | 11.97 | 11.70 | 100843 | 1.28 | 1.21 | 2.42 | 23 |
| 07/31/25@ | 11.97 | 0.24 | &nbsp;&nbsp;1.81 | &nbsp;&nbsp;2.05 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 14.02 | 17.13 | 105306 | &nbsp;&nbsp;1.28(3) | &nbsp;&nbsp;1.18(3) | &nbsp;&nbsp;3.73(3) | 16 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | Annualized |
| (4) | Prior to April 28, 2025, the Portfolio was known as SA Putnam International Growth and Income Portfolio. |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA Schroders VCP Global Allocation Portfolio — Class 1** | **SA Schroders VCP Global Allocation Portfolio — Class 1** | **SA Schroders VCP Global Allocation Portfolio — Class 1** | **SA Schroders VCP Global Allocation Portfolio — Class 1** | **SA Schroders VCP Global Allocation Portfolio — Class 1** | **SA Schroders VCP Global Allocation Portfolio — Class 1** | **SA Schroders VCP Global Allocation Portfolio — Class 1** | **SA Schroders VCP Global Allocation Portfolio — Class 1** | **SA Schroders VCP Global Allocation Portfolio — Class 1** | **SA Schroders VCP Global Allocation Portfolio — Class 1** | **SA Schroders VCP Global Allocation Portfolio — Class 1** | **SA Schroders VCP Global Allocation Portfolio — Class 1** | **SA Schroders VCP Global Allocation Portfolio — Class 1** | **SA Schroders VCP Global Allocation Portfolio — Class 1** | **SA Schroders VCP Global Allocation Portfolio — Class 1** |
| 01/31/21 | $11.41 | $0.08 | $(0.14) | $(0.06) | $(0.02) | $(0.17) | $(0.19) | $11.16 | (0.49)% | $196 | 0.95% | 0.90% | 0.76% | 143% |
| 01/31/22 | 11.16 | 0.10 | &nbsp;&nbsp;0.87 | &nbsp;&nbsp;0.97 | (0.08) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.08) | 12.05 | 8.64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276 | 0.89 | 0.90 | 0.83 | 73 |
| 01/31/23 | 12.05 | 0.18 | (1.48) | (1.30) | (0.11) | (1.48) | (1.59) | &nbsp;&nbsp;&nbsp;9.16 | (9.63) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243 | 0.90 | 0.90 | 1.73 | 56 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;9.16 | 0.23 | &nbsp;&nbsp;0.71 | &nbsp;&nbsp;0.94 | (0.15) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.15) | &nbsp;&nbsp;&nbsp;9.95 | 10.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259 | 0.92 | 0.90 | 2.49 | 56 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;9.95 | 0.23 | &nbsp;&nbsp;1.14 | &nbsp;&nbsp;1.37 | (0.21) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.21) | 11.11 | 13.79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363 | 0.92 | 0.90 | 2.19 | 59 |
| 07/31/25@ | 11.11 | 0.14 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;0.40 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.51 | 3.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366 | &nbsp;&nbsp;0.93(3) | &nbsp;&nbsp;0.90(3) | &nbsp;&nbsp;2.60(3) | 23 |
| **SA Schroders VCP Global Allocation Portfolio — Class 3** | **SA Schroders VCP Global Allocation Portfolio — Class 3** | **SA Schroders VCP Global Allocation Portfolio — Class 3** | **SA Schroders VCP Global Allocation Portfolio — Class 3** | **SA Schroders VCP Global Allocation Portfolio — Class 3** | **SA Schroders VCP Global Allocation Portfolio — Class 3** | **SA Schroders VCP Global Allocation Portfolio — Class 3** | **SA Schroders VCP Global Allocation Portfolio — Class 3** | **SA Schroders VCP Global Allocation Portfolio — Class 3** | **SA Schroders VCP Global Allocation Portfolio — Class 3** | **SA Schroders VCP Global Allocation Portfolio — Class 3** | **SA Schroders VCP Global Allocation Portfolio — Class 3** | **SA Schroders VCP Global Allocation Portfolio — Class 3** | **SA Schroders VCP Global Allocation Portfolio — Class 3** | **SA Schroders VCP Global Allocation Portfolio — Class 3** |
| 01/31/21 | 11.42 | 0.06 | (0.16) | (0.10) | (0.01) | (0.17) | (0.18) | 11.14 | (0.79) | 603482 | 1.20 | 1.15 | 0.52 | 143 |
| 01/31/22 | 11.14 | 0.07 | &nbsp;&nbsp;0.87 | &nbsp;&nbsp;0.94 | (0.05) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.05) | 12.03 | 8.39 | 582011 | 1.14 | 1.15 | 0.59 | 73 |
| 01/31/23 | 12.03 | 0.15 | (1.47) | (1.32) | (0.08) | (1.48) | (1.56) | &nbsp;&nbsp;&nbsp;9.15 | (9.86) | 480513 | 1.15 | 1.15 | 1.48 | 56 |
| 01/31/24 | &nbsp;&nbsp;&nbsp;9.15 | 0.21 | &nbsp;&nbsp;0.70 | &nbsp;&nbsp;0.91 | (0.12) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.12) | &nbsp;&nbsp;&nbsp;9.94 | 10.09 | 463680 | 1.18 | 1.15 | 2.24 | 56 |
| 01/31/25 | &nbsp;&nbsp;&nbsp;9.94 | 0.21 | &nbsp;&nbsp;1.13 | &nbsp;&nbsp;1.34 | (0.18) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.18) | 11.10 | 13.52 | 441588 | 1.17 | 1.15 | 2.00 | 59 |
| 07/31/25@ | 11.10 | 0.13 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;0.39 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 11.49 | 3.51 | 417501 | &nbsp;&nbsp;1.18(3) | &nbsp;&nbsp;1.15(3) | &nbsp;&nbsp;2.35(3) | 23 |
| **SA Small Cap Index Portfolio — Class 1** | **SA Small Cap Index Portfolio — Class 1** | **SA Small Cap Index Portfolio — Class 1** | **SA Small Cap Index Portfolio — Class 1** | **SA Small Cap Index Portfolio — Class 1** | **SA Small Cap Index Portfolio — Class 1** | **SA Small Cap Index Portfolio — Class 1** | **SA Small Cap Index Portfolio — Class 1** | **SA Small Cap Index Portfolio — Class 1** | **SA Small Cap Index Portfolio — Class 1** | **SA Small Cap Index Portfolio — Class 1** | **SA Small Cap Index Portfolio — Class 1** | **SA Small Cap Index Portfolio — Class 1** | **SA Small Cap Index Portfolio — Class 1** | **SA Small Cap Index Portfolio — Class 1** |
| 01/31/21 | 11.54 | 0.07 | &nbsp;&nbsp;3.21 | &nbsp;&nbsp;3.28 | (0.09) | (0.44) | (0.53) | 14.29 | 29.37 | 293574 | 0.44 | 0.45 | 0.62 | 19 |
| 01/31/22 | 14.29 | 0.08 | (0.25) | (0.17) | (0.07) | (0.45) | (0.52) | 13.60 | (1.75) | 257507 | 0.43 | 0.45 | 0.50 | 22 |
| 01/31/23 | 13.60 | 0.11 | (0.75) | (0.64) | (0.09) | (1.22) | (1.31) | 11.65 | (3.74) | 252637 | 0.44 | 0.45 | 0.92 | 17 |
| 01/31/24 | 11.65 | 0.11 | &nbsp;&nbsp;0.07 | &nbsp;&nbsp;0.18 | (0.11) | (0.05) | (0.16) | 11.67 | 1.71 | 237223 | 0.46 | 0.44 | 0.98 | 14 |
| 01/31/25 | 11.67 | 0.11 | &nbsp;&nbsp;2.06 | &nbsp;&nbsp;2.17 | (0.14) | (0.17) | (0.31) | 13.53 | 18.48 | 240593 | 0.44 | 0.41 | 0.87 | 19 |
| 07/31/25@ | 13.53 | 0.07 | (0.45) | (0.38) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.15 | (2.81) | 215236 | &nbsp;&nbsp;0.45(3) | &nbsp;&nbsp;0.41(3) | &nbsp;&nbsp;1.10(3) | 21 |
| **SA Small Cap Index Portfolio — Class 3** | **SA Small Cap Index Portfolio — Class 3** | **SA Small Cap Index Portfolio — Class 3** | **SA Small Cap Index Portfolio — Class 3** | **SA Small Cap Index Portfolio — Class 3** | **SA Small Cap Index Portfolio — Class 3** | **SA Small Cap Index Portfolio — Class 3** | **SA Small Cap Index Portfolio — Class 3** | **SA Small Cap Index Portfolio — Class 3** | **SA Small Cap Index Portfolio — Class 3** | **SA Small Cap Index Portfolio — Class 3** | **SA Small Cap Index Portfolio — Class 3** | **SA Small Cap Index Portfolio — Class 3** | **SA Small Cap Index Portfolio — Class 3** | **SA Small Cap Index Portfolio — Class 3** |
| 01/31/21 | 11.50 | 0.04 | &nbsp;&nbsp;3.21 | &nbsp;&nbsp;3.25 | (0.08) | (0.44) | (0.52) | 14.23 | 29.20 | &nbsp;&nbsp;&nbsp;21153 | 0.69 | 0.70 | 0.34 | 19 |
| 01/31/22 | 14.23 | 0.04 | (0.25) | (0.21) | (0.06) | (0.45) | (0.51) | 13.51 | (2.04) | &nbsp;&nbsp;&nbsp;43654 | 0.69 | 0.70 | 0.26 | 22 |
| 01/31/23 | 13.51 | 0.08 | (0.75) | (0.67) | (0.06) | (1.22) | (1.28) | 11.56 | (3.95) | &nbsp;&nbsp;&nbsp;52951 | 0.69 | 0.70 | 0.68 | 17 |
| 01/31/24 | 11.56 | 0.08 | &nbsp;&nbsp;0.06 | &nbsp;&nbsp;0.14 | (0.08) | (0.05) | (0.13) | 11.57 | 1.42 | &nbsp;&nbsp;&nbsp;59710 | 0.71 | 0.69 | 0.73 | 14 |
| 01/31/25 | 11.57 | 0.08 | &nbsp;&nbsp;2.03 | &nbsp;&nbsp;2.11 | (0.11) | (0.17) | (0.28) | 13.40 | 18.16 | &nbsp;&nbsp;&nbsp;77550 | 0.69 | 0.65 | 0.61 | 19 |
| 07/31/25@ | 13.40 | 0.05 | (0.44) | (0.39) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.01 | (2.91) | &nbsp;&nbsp;&nbsp;78662 | &nbsp;&nbsp;0.70(3) | &nbsp;&nbsp;0.66(3) | &nbsp;&nbsp;0.84(3) | 21 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | Annualized |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 1(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 1(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 1(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 1(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 1(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 1(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 1(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 1(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 1(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 1(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 1(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 1(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 1(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 1(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 1(3)** |
| 01/31/21 | $11.73 | $0.10 | $1.81 | $1.91 | $(0.10) | $(0.08) | $(0.18) | $13.46 | &nbsp;&nbsp;16.24% | $364 | 0.79% | 0.81% | 0.87% | 41% |
| 01/31/22 | 13.46 | 0.10 | &nbsp;&nbsp;1.44 | &nbsp;&nbsp;1.54 | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.20) | (0.20) | 14.80 | 11.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | 0.77 | 0.81 | 0.65 | 39 |
| 01/31/23 | 14.80 | 0.14 | (1.52) | (1.38) | (0.08) | (0.93) | (1.01) | 12.41 | (8.69) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394 | 0.75 | 0.76 | 1.13 | 45 |
| 01/31/24 | 12.41 | 0.17 | &nbsp;&nbsp;1.49 | &nbsp;&nbsp;1.66 | (0.15) | (0.10) | (0.25) | 13.82 | 13.54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542 | 0.75 | 0.75 | 1.32 | 31 |
| 01/31/25 | 13.82 | 0.19 | &nbsp;&nbsp;2.18 | &nbsp;&nbsp;2.37 | (0.18) | (0.16) | (0.34) | 15.85 | 17.22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456 | 0.75 | 0.75 | 1.27 | &nbsp;&nbsp;30(4) |
| 07/31/25@ | 15.85 | 0.12 | &nbsp;&nbsp;0.64 | &nbsp;&nbsp;0.76 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 16.61 | &nbsp;&nbsp;4.79 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402 | &nbsp;&nbsp;0.74(5) | &nbsp;&nbsp;0.74(5) | &nbsp;&nbsp;1.58(5) | &nbsp;&nbsp;16(4) |
| **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 3(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 3(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 3(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 3(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 3(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 3(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 3(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 3(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 3(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 3(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 3(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 3(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 3(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 3(3)** | **SA T. Rowe Price Allocation Moderately Aggressive Portfolio — Class 3(3)** |
| 01/31/21 | 11.75 | 0.07 | &nbsp;&nbsp;1.80 | &nbsp;&nbsp;1.87 | (0.07) | (0.08) | (0.15) | 13.47 | 15.91 | &nbsp;&nbsp;&nbsp;402775 | 1.03 | 1.06 | 0.60 | 41 |
| 01/31/22 | 13.47 | 0.05 | &nbsp;&nbsp;1.46 | &nbsp;&nbsp;1.51 | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.20) | (0.20) | 14.78 | 11.17 | &nbsp;&nbsp;&nbsp;628755 | 1.02 | 1.06 | 0.36 | 39 |
| 01/31/23 | 14.78 | 0.11 | (1.52) | (1.41) | (0.05) | (0.93) | (0.98) | 12.39 | (8.92) | &nbsp;&nbsp;&nbsp;635335 | 1.00 | 1.01 | 0.89 | 45 |
| 01/31/24 | 12.39 | 0.14 | &nbsp;&nbsp;1.48 | &nbsp;&nbsp;1.62 | (0.12) | (0.10) | (0.22) | 13.79 | 13.22 | &nbsp;&nbsp;&nbsp;699570 | 1.00 | 1.00 | 1.07 | 31 |
| 01/31/25 | 13.79 | 0.15 | &nbsp;&nbsp;2.18 | &nbsp;&nbsp;2.33 | (0.15) | (0.16) | (0.31) | 15.81 | 16.94 | &nbsp;&nbsp;&nbsp;773513 | 1.00 | 1.00 | 1.00 | &nbsp;&nbsp;30(4) |
| 07/31/25@ | 15.81 | 0.10 | &nbsp;&nbsp;0.64 | &nbsp;&nbsp;0.74 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 16.55 | &nbsp;&nbsp;4.68 | &nbsp;&nbsp;&nbsp;772260 | &nbsp;&nbsp;0.99(5) | &nbsp;&nbsp;0.99(5) | &nbsp;&nbsp;1.31(5) | &nbsp;&nbsp;16(4) |
| **SA T. Rowe Price VCP Balanced Portfolio — Class 1** | **SA T. Rowe Price VCP Balanced Portfolio — Class 1** | **SA T. Rowe Price VCP Balanced Portfolio — Class 1** | **SA T. Rowe Price VCP Balanced Portfolio — Class 1** | **SA T. Rowe Price VCP Balanced Portfolio — Class 1** | **SA T. Rowe Price VCP Balanced Portfolio — Class 1** | **SA T. Rowe Price VCP Balanced Portfolio — Class 1** | **SA T. Rowe Price VCP Balanced Portfolio — Class 1** | **SA T. Rowe Price VCP Balanced Portfolio — Class 1** | **SA T. Rowe Price VCP Balanced Portfolio — Class 1** | **SA T. Rowe Price VCP Balanced Portfolio — Class 1** | **SA T. Rowe Price VCP Balanced Portfolio — Class 1** | **SA T. Rowe Price VCP Balanced Portfolio — Class 1** | **SA T. Rowe Price VCP Balanced Portfolio — Class 1** | **SA T. Rowe Price VCP Balanced Portfolio — Class 1** |
| 01/31/21 | 12.43 | 0.14 | &nbsp;&nbsp;0.96 | &nbsp;&nbsp;1.10 | (0.02) | (0.29) | (0.31) | 13.22 | &nbsp;&nbsp;8.92 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96 | 0.80 | 0.80 | 1.11 | 66 |
| 01/31/22 | 13.22 | 0.10 | &nbsp;&nbsp;1.04 | &nbsp;&nbsp;1.14 | (0.16) | (0.69) | (0.85) | 13.51 | &nbsp;&nbsp;8.31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290 | 0.80 | 0.80 | 0.78 | 55 |
| 01/31/23 | 13.51 | 0.19 | (1.85) | (1.66) | (0.13) | (1.53) | (1.66) | 10.19 | (11.13) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243 | 0.81 | 0.81 | 1.64 | 53 |
| 01/31/24 | 10.19 | 0.22 | &nbsp;&nbsp;0.97 | &nbsp;&nbsp;1.19 | (0.20) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.20) | 11.18 | 11.93 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249 | 0.81 | 0.81 | 2.11 | 33 |
| 01/31/25 | 11.18 | 0.26 | &nbsp;&nbsp;1.54 | &nbsp;&nbsp;1.80 | (0.27) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.27) | 12.71 | 16.08 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254 | &nbsp;&nbsp;0.82(6) | &nbsp;&nbsp;0.82(6) | 2.10 | &nbsp;&nbsp;34(4) |
| 07/31/25@ | 12.71 | 0.15 | &nbsp;&nbsp;0.53 | &nbsp;&nbsp;0.68 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.39 | &nbsp;&nbsp;5.35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;0.83(5) | &nbsp;&nbsp;0.83(5) | &nbsp;&nbsp;2.30(5) | &nbsp;&nbsp;20(4) |
| **SA T. Rowe Price VCP Balanced Portfolio — Class 3** | **SA T. Rowe Price VCP Balanced Portfolio — Class 3** | **SA T. Rowe Price VCP Balanced Portfolio — Class 3** | **SA T. Rowe Price VCP Balanced Portfolio — Class 3** | **SA T. Rowe Price VCP Balanced Portfolio — Class 3** | **SA T. Rowe Price VCP Balanced Portfolio — Class 3** | **SA T. Rowe Price VCP Balanced Portfolio — Class 3** | **SA T. Rowe Price VCP Balanced Portfolio — Class 3** | **SA T. Rowe Price VCP Balanced Portfolio — Class 3** | **SA T. Rowe Price VCP Balanced Portfolio — Class 3** | **SA T. Rowe Price VCP Balanced Portfolio — Class 3** | **SA T. Rowe Price VCP Balanced Portfolio — Class 3** | **SA T. Rowe Price VCP Balanced Portfolio — Class 3** | **SA T. Rowe Price VCP Balanced Portfolio — Class 3** | **SA T. Rowe Price VCP Balanced Portfolio — Class 3** |
| 01/31/21 | 12.44 | 0.11 | &nbsp;&nbsp;0.95 | &nbsp;&nbsp;1.06 | (0.01) | (0.29) | (0.30) | 13.20 | &nbsp;&nbsp;8.64 | 1664250 | 1.05 | 1.05 | 0.87 | 66 |
| 01/31/22 | 13.20 | 0.09 | &nbsp;&nbsp;1.01 | &nbsp;&nbsp;1.10 | (0.13) | (0.69) | (0.82) | 13.48 | &nbsp;&nbsp;8.00 | 1712989 | 1.05 | 1.05 | 0.64 | 55 |
| 01/31/23 | 13.48 | 0.16 | (1.83) | (1.67) | (0.10) | (1.53) | (1.63) | 10.18 | (11.31) | 1458827 | 1.06 | 1.06 | 1.39 | 53 |
| 01/31/24 | 10.18 | 0.19 | &nbsp;&nbsp;0.98 | &nbsp;&nbsp;1.17 | (0.18) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.18) | 11.17 | 11.63 | 1453517 | 1.06 | 1.06 | 1.86 | 33 |
| 01/31/25 | 11.17 | 0.22 | &nbsp;&nbsp;1.55 | &nbsp;&nbsp;1.77 | (0.24) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.24) | 12.70 | 15.81 | 1439068 | &nbsp;&nbsp;1.07(6) | &nbsp;&nbsp;1.07(6) | 1.85 | &nbsp;&nbsp;34(4) |
| 07/31/25@ | 12.70 | 0.13 | &nbsp;&nbsp;0.53 | &nbsp;&nbsp;0.66 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.36 | &nbsp;&nbsp;5.20 | 1378734 | &nbsp;&nbsp;1.08(5) | &nbsp;&nbsp;1.08(5) | &nbsp;&nbsp;2.06(5) | &nbsp;&nbsp;20(4) |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | Prior to April 28, 2025, the Portfolio was known as SA T. Rowe Price Asset Allocation Growth Portfolio. |
| (4) | Excludes TBA transactions. Beginning with the period ended January 31, 2025, portfolio turnover rates including TBA transactions are being added as Supplemental Ratios in the table below. |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Supplemental Ratios** |  |  |  |  |  |  |
| **Portfolio Turnover (including TBA transactions)** | &nbsp;&nbsp;**01/21** | &nbsp;&nbsp;**01/22** | &nbsp;&nbsp;**01/23** | &nbsp;&nbsp;**01/24** | &nbsp;&nbsp;**01/25** | &nbsp;&nbsp;**07/25** |
| SA T. Rowe Price Allocation Moderately Aggressive Portfolio<br>| &nbsp;&nbsp;N/A | &nbsp;&nbsp;N/A | &nbsp;&nbsp;N/A | &nbsp;&nbsp;N/A | &nbsp;&nbsp;31% | &nbsp;&nbsp;&nbsp;&nbsp;- |
| SA T. Rowe Price VCP Balanced Portfolio<br>| &nbsp;&nbsp;N/A | &nbsp;&nbsp;N/A | &nbsp;&nbsp;N/A | &nbsp;&nbsp;N/A | &nbsp;&nbsp;53 | &nbsp;&nbsp;28% |

---

(5) Annualized

(6) Includes interest expense of 0.01% relating to derivative or other investment activity.

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA VCP Dynamic Allocation Portfolio — Class 1(3)** | **SA VCP Dynamic Allocation Portfolio — Class 1(3)** | **SA VCP Dynamic Allocation Portfolio — Class 1(3)** | **SA VCP Dynamic Allocation Portfolio — Class 1(3)** | **SA VCP Dynamic Allocation Portfolio — Class 1(3)** | **SA VCP Dynamic Allocation Portfolio — Class 1(3)** | **SA VCP Dynamic Allocation Portfolio — Class 1(3)** | **SA VCP Dynamic Allocation Portfolio — Class 1(3)** | **SA VCP Dynamic Allocation Portfolio — Class 1(3)** | **SA VCP Dynamic Allocation Portfolio — Class 1(3)** | **SA VCP Dynamic Allocation Portfolio — Class 1(3)** | **SA VCP Dynamic Allocation Portfolio — Class 1(3)** | **SA VCP Dynamic Allocation Portfolio — Class 1(3)** | **SA VCP Dynamic Allocation Portfolio — Class 1(3)** | **SA VCP Dynamic Allocation Portfolio — Class 1(3)** |
| 01/31/21 | $13.12 | $0.20 | $1.41 | $1.61 | $(0.20) | $(0.75) | $(0.95) | $13.78 | 12.53% | $284 | 0.23% | 0.22% | 1.53% | 17% |
| 01/31/22 | 13.78 | 0.27 | &nbsp;&nbsp;0.50 | &nbsp;&nbsp;0.77 | (0.27) | (0.86) | (1.13) | 13.42 | 5.19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492 | 0.22 | 0.21 | 1.94 | 14 |
| 01/31/23 | 13.42 | 0.18 | (1.49) | (1.31) | (0.35) | (1.03) | (1.38) | 10.73 | (9.04) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440 | 0.23 | 0.23 | 1.52 | 14 |
| 01/31/24 | 10.73 | 0.20 | &nbsp;&nbsp;0.72 | &nbsp;&nbsp;0.92 | (0.28) | (0.50) | (0.78) | 10.87 | 9.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522 | &nbsp;&nbsp;0.26(4) | &nbsp;&nbsp;0.25(4) | 1.88 | 11 |
| 01/31/25 | 10.87 | 0.23 | &nbsp;&nbsp;1.48 | &nbsp;&nbsp;1.71 | (0.20) | (0.15) | (0.35) | 12.23 | 15.77 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497 | &nbsp;&nbsp;0.26(5) | &nbsp;&nbsp;0.25(5) | 1.96 | 16 |
| 07/31/25@ | 12.23 | 0.01 | &nbsp;&nbsp;0.37 | &nbsp;&nbsp;0.38 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 12.61 | 3.11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp;&nbsp;&nbsp;0.25(6)(7) | &nbsp;&nbsp;&nbsp;&nbsp;0.24(6)(7) | &nbsp;&nbsp;0.22(6) | &nbsp;&nbsp;12(8) |
| **SA VCP Dynamic Allocation Portfolio — Class 3(3)** | **SA VCP Dynamic Allocation Portfolio — Class 3(3)** | **SA VCP Dynamic Allocation Portfolio — Class 3(3)** | **SA VCP Dynamic Allocation Portfolio — Class 3(3)** | **SA VCP Dynamic Allocation Portfolio — Class 3(3)** | **SA VCP Dynamic Allocation Portfolio — Class 3(3)** | **SA VCP Dynamic Allocation Portfolio — Class 3(3)** | **SA VCP Dynamic Allocation Portfolio — Class 3(3)** | **SA VCP Dynamic Allocation Portfolio — Class 3(3)** | **SA VCP Dynamic Allocation Portfolio — Class 3(3)** | **SA VCP Dynamic Allocation Portfolio — Class 3(3)** | **SA VCP Dynamic Allocation Portfolio — Class 3(3)** | **SA VCP Dynamic Allocation Portfolio — Class 3(3)** | **SA VCP Dynamic Allocation Portfolio — Class 3(3)** | **SA VCP Dynamic Allocation Portfolio — Class 3(3)** |
| 01/31/21 | 13.11 | 0.15 | &nbsp;&nbsp;1.42 | &nbsp;&nbsp;1.57 | (0.16) | (0.75) | (0.91) | 13.77 | 12.26 | 11751233 | 0.48 | 0.47 | 1.11 | 17 |
| 01/31/22 | 13.77 | 0.10 | &nbsp;&nbsp;0.63 | &nbsp;&nbsp;0.73 | (0.23) | (0.86) | (1.09) | 13.41 | 4.93 | 10989643 | 0.47 | 0.46 | 0.72 | 14 |
| 01/31/23 | 13.41 | 0.12 | (1.46) | (1.34) | (0.31) | (1.03) | (1.34) | 10.73 | (9.30) | &nbsp;&nbsp;&nbsp;8834352 | 0.48 | 0.48 | 0.99 | 14 |
| 01/31/24 | 10.73 | 0.14 | &nbsp;&nbsp;0.75 | &nbsp;&nbsp;0.89 | (0.24) | (0.50) | (0.74) | 10.88 | 9.01 | &nbsp;&nbsp;&nbsp;8349868 | &nbsp;&nbsp;0.51(4) | &nbsp;&nbsp;0.50(4) | 1.35 | 11 |
| 01/31/25 | 10.88 | 0.19 | &nbsp;&nbsp;1.49 | &nbsp;&nbsp;1.68 | (0.17) | (0.15) | (0.32) | 12.24 | 15.47 | &nbsp;&nbsp;&nbsp;8126212 | &nbsp;&nbsp;0.51(5) | &nbsp;&nbsp;0.50(5) | 1.63 | 16 |
| 07/31/25@ | 12.24 | 0.01 | &nbsp;&nbsp;0.36 | &nbsp;&nbsp;0.37 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 12.61 | 3.02 | &nbsp;&nbsp;&nbsp;9172833 | &nbsp;&nbsp;&nbsp;&nbsp;0.50(6)(7) | &nbsp;&nbsp;&nbsp;&nbsp;0.50(6)(7) | &nbsp;&nbsp;0.17(6) | &nbsp;&nbsp;12(8) |
| **SA VCP Dynamic Strategy Portfolio — Class 1(3)** | **SA VCP Dynamic Strategy Portfolio — Class 1(3)** | **SA VCP Dynamic Strategy Portfolio — Class 1(3)** | **SA VCP Dynamic Strategy Portfolio — Class 1(3)** | **SA VCP Dynamic Strategy Portfolio — Class 1(3)** | **SA VCP Dynamic Strategy Portfolio — Class 1(3)** | **SA VCP Dynamic Strategy Portfolio — Class 1(3)** | **SA VCP Dynamic Strategy Portfolio — Class 1(3)** | **SA VCP Dynamic Strategy Portfolio — Class 1(3)** | **SA VCP Dynamic Strategy Portfolio — Class 1(3)** | **SA VCP Dynamic Strategy Portfolio — Class 1(3)** | **SA VCP Dynamic Strategy Portfolio — Class 1(3)** | **SA VCP Dynamic Strategy Portfolio — Class 1(3)** | **SA VCP Dynamic Strategy Portfolio — Class 1(3)** | **SA VCP Dynamic Strategy Portfolio — Class 1(3)** |
| 01/31/21 | 13.23 | 0.13 | &nbsp;&nbsp;1.21 | &nbsp;&nbsp;1.34 | (0.20) | (0.58) | (0.78) | 13.79 | 10.32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | 0.23 | 0.23 | 0.95 | 17 |
| 01/31/22 | 13.79 | 0.27 | &nbsp;&nbsp;0.66 | &nbsp;&nbsp;0.93 | (0.23) | (0.55) | (0.78) | 13.94 | 6.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;778 | 0.22 | 0.22 | 1.94 | &nbsp;&nbsp;33(8) |
| 01/31/23 | 13.94 | 0.19 | (1.27) | (1.08) | (0.33) | (0.75) | (1.08) | 11.78 | (7.18) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;687 | 0.24 | 0.24 | 1.51 | 13 |
| 01/31/24 | 11.78 | 0.20 | &nbsp;&nbsp;0.62 | &nbsp;&nbsp;0.82 | (0.34) | (1.06) | (1.40) | 11.20 | 8.16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719 | &nbsp;&nbsp;0.26(4) | &nbsp;&nbsp;0.26(4) | 1.72 | 12 |
| 01/31/25 | 11.20 | 0.20 | &nbsp;&nbsp;1.49 | &nbsp;&nbsp;1.69 | (0.20) | (0.00) | (0.20) | 12.69 | 15.14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;0.27(5) | &nbsp;&nbsp;0.26(5) | 1.69 | 18 |
| 07/31/25@ | 12.69 | 0.03 | &nbsp;&nbsp;0.33 | &nbsp;&nbsp;0.36 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.05 | 2.84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598 | &nbsp;&nbsp;&nbsp;&nbsp;0.27(5)(6) | &nbsp;&nbsp;&nbsp;&nbsp;0.26(5)(6) | &nbsp;&nbsp;0.45(6) | 5 |
| **SA VCP Dynamic Strategy Portfolio — Class 3(3)** | **SA VCP Dynamic Strategy Portfolio — Class 3(3)** | **SA VCP Dynamic Strategy Portfolio — Class 3(3)** | **SA VCP Dynamic Strategy Portfolio — Class 3(3)** | **SA VCP Dynamic Strategy Portfolio — Class 3(3)** | **SA VCP Dynamic Strategy Portfolio — Class 3(3)** | **SA VCP Dynamic Strategy Portfolio — Class 3(3)** | **SA VCP Dynamic Strategy Portfolio — Class 3(3)** | **SA VCP Dynamic Strategy Portfolio — Class 3(3)** | **SA VCP Dynamic Strategy Portfolio — Class 3(3)** | **SA VCP Dynamic Strategy Portfolio — Class 3(3)** | **SA VCP Dynamic Strategy Portfolio — Class 3(3)** | **SA VCP Dynamic Strategy Portfolio — Class 3(3)** | **SA VCP Dynamic Strategy Portfolio — Class 3(3)** | **SA VCP Dynamic Strategy Portfolio — Class 3(3)** |
| 01/31/21 | 13.23 | 0.14 | &nbsp;&nbsp;1.16 | &nbsp;&nbsp;1.30 | (0.16) | (0.58) | (0.74) | 13.79 | 10.03 | &nbsp;&nbsp;&nbsp;6048220 | 0.48 | 0.48 | 1.07 | 17 |
| 01/31/22 | 13.79 | 0.11 | &nbsp;&nbsp;0.78 | &nbsp;&nbsp;0.89 | (0.20) | (0.55) | (0.75) | 13.93 | 6.20 | &nbsp;&nbsp;&nbsp;7115875 | 0.47 | 0.47 | 0.74 | &nbsp;&nbsp;33(8) |
| 01/31/23 | 13.93 | 0.12 | (1.22) | (1.10) | (0.29) | (0.75) | (1.04) | 11.79 | (7.35) | &nbsp;&nbsp;&nbsp;5713761 | 0.49 | 0.49 | 0.97 | 13 |
| 01/31/24 | 11.79 | 0.15 | &nbsp;&nbsp;0.63 | &nbsp;&nbsp;0.78 | (0.30) | (1.06) | (1.36) | 11.21 | 7.81 | &nbsp;&nbsp;&nbsp;5364605 | &nbsp;&nbsp;0.51(4) | &nbsp;&nbsp;0.51(4) | 1.29 | 12 |
| 01/31/25 | 11.21 | 0.17 | &nbsp;&nbsp;1.50 | &nbsp;&nbsp;1.67 | (0.17) | (0.00) | (0.17) | 12.71 | 14.93 | &nbsp;&nbsp;&nbsp;5189506 | &nbsp;&nbsp;0.52(5) | &nbsp;&nbsp;0.51(5) | 1.43 | 18 |
| 07/31/25@ | 12.71 | 0.01 | &nbsp;&nbsp;0.33 | &nbsp;&nbsp;0.34 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.05 | 2.68 | &nbsp;&nbsp;&nbsp;4880980 | &nbsp;&nbsp;&nbsp;&nbsp;0.52(5)(6) | &nbsp;&nbsp;&nbsp;&nbsp;0.51(5)(6) | &nbsp;&nbsp;0.20(6) | 5 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | The expense ratios do not include underlying fund expenses that the Portfolio bears indirectly. Additionally, recognition of net investment income by the Portfolio is affected by the timing of the declaration of dividends by the underlying investment companies in which the Portfolio invests. Accordingly, the ratio of net investment income does not reflect the proportionate share of income from these funds. |
| (4) | Includes interest expense of 0.03% relating to derivative or other investment activity. |
| (5) | Includes interest expense of 0.04% relating to derivative or other investment activity. |
| (6) | Annualized |
| (7) | Includes interest expense of 0.02% relating to derivative or other investment activity. |
| (8) | Excludes purchases/sales due to merger. |

---

See Notes to Financial Statements

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### FINANCIAL HIGHLIGHTS — (continued)

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** | **Selected Data for a Share Outstanding Throughout each Period** |  |  | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
|  |  | **Investment Operations** | **Investment Operations** | **Investment Operations** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** | **Distributions to<br> Shareholders From** |  |  |  | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** |  |
| **Period<br> ended** | **Net Asset<br> Value<br> beginning<br> of period** | **Net<br> investment<br> income<br> (loss)(1)** | **Net realized<br> & unrealized<br> gain (loss)<br> on<br> investments** | **Total from<br> investment<br> operations** | **Net<br> investment<br> income** | **Net<br> realized<br> gain on<br> investments** | **Total<br> distributions** | **Net Asset<br> Value<br> end of<br> period** | **Total<br> Return(2)** | **Net Assets<br> end of<br> period (000's)** | **Total expenses<br> before waivers<br> and/or<br> reimburse-<br> ments** | **Total expenses<br> after waivers<br> and/or<br> reimburse-<br> ments** | **Net<br> investment<br> income<br> (loss)** | **Portfolio<br> turnover** |
| **SA VCP Index Allocation Portfolio — Class 1(3)** | **SA VCP Index Allocation Portfolio — Class 1(3)** | **SA VCP Index Allocation Portfolio — Class 1(3)** | **SA VCP Index Allocation Portfolio — Class 1(3)** | **SA VCP Index Allocation Portfolio — Class 1(3)** | **SA VCP Index Allocation Portfolio — Class 1(3)** | **SA VCP Index Allocation Portfolio — Class 1(3)** | **SA VCP Index Allocation Portfolio — Class 1(3)** | **SA VCP Index Allocation Portfolio — Class 1(3)** | **SA VCP Index Allocation Portfolio — Class 1(3)** | **SA VCP Index Allocation Portfolio — Class 1(3)** | **SA VCP Index Allocation Portfolio — Class 1(3)** | **SA VCP Index Allocation Portfolio — Class 1(3)** | **SA VCP Index Allocation Portfolio — Class 1(3)** | **SA VCP Index Allocation Portfolio — Class 1(3)** |
| 01/31/21 | $11.28 | $0.16 | $0.75 | $0.91 | $(0.15) | $(0.18) | $(0.33) | $11.86 | &nbsp;&nbsp;8.15% | $212 | 0.26% | 0.27% | 1.46% | 27% |
| 01/31/22 | 11.86 | 0.19 | &nbsp;&nbsp;1.00 | &nbsp;&nbsp;1.19 | (0.15) | (0.93) | (1.08) | 11.97 | 9.69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358 | 0.24 | 0.24 | 1.51 | 19 |
| 01/31/23 | 11.97 | 0.18 | (1.20) | (1.02) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.04) | (0.04) | 10.91 | (8.49) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365 | 0.24 | 0.24 | 1.65 | 8 |
| 01/31/24 | 10.91 | 0.22 | &nbsp;&nbsp;0.96 | &nbsp;&nbsp;1.18 | (0.18) | (0.15) | (0.33) | 11.76 | 11.13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528 | 0.24 | 0.24 | 1.94 | 5 |
| 01/31/25 | 11.76 | 0.28 | &nbsp;&nbsp;1.93 | &nbsp;&nbsp;2.21 | (0.24) | (0.67) | (0.91) | 13.06 | 18.81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551 | &nbsp;&nbsp;&nbsp;&nbsp;0.23(4)(5) | &nbsp;&nbsp;&nbsp;&nbsp;0.23(4)(5) | 2.21 | 7 |
| 07/31/25@ | 13.06 | 0.03 | &nbsp;&nbsp;0.23 | &nbsp;&nbsp;0.26 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.32 | 1.99 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558 | &nbsp;&nbsp;&nbsp;&nbsp;0.26(6)(7) | &nbsp;&nbsp;&nbsp;&nbsp;0.26(6)(7) | &nbsp;&nbsp;0.53(7) | 6 |
| **SA VCP Index Allocation Portfolio — Class 3(3)** | **SA VCP Index Allocation Portfolio — Class 3(3)** | **SA VCP Index Allocation Portfolio — Class 3(3)** | **SA VCP Index Allocation Portfolio — Class 3(3)** | **SA VCP Index Allocation Portfolio — Class 3(3)** | **SA VCP Index Allocation Portfolio — Class 3(3)** | **SA VCP Index Allocation Portfolio — Class 3(3)** | **SA VCP Index Allocation Portfolio — Class 3(3)** | **SA VCP Index Allocation Portfolio — Class 3(3)** | **SA VCP Index Allocation Portfolio — Class 3(3)** | **SA VCP Index Allocation Portfolio — Class 3(3)** | **SA VCP Index Allocation Portfolio — Class 3(3)** | **SA VCP Index Allocation Portfolio — Class 3(3)** | **SA VCP Index Allocation Portfolio — Class 3(3)** | **SA VCP Index Allocation Portfolio — Class 3(3)** |
| 01/31/21 | 11.31 | 0.11 | &nbsp;&nbsp;0.76 | &nbsp;&nbsp;0.87 | (0.13) | (0.18) | (0.31) | 11.87 | 7.73 | 439902 | 0.51 | 0.52 | 0.95 | 27 |
| 01/31/22 | 11.87 | 0.08 | &nbsp;&nbsp;1.09 | &nbsp;&nbsp;1.17 | (0.12) | (0.93) | (1.05) | 11.99 | 9.47 | 523701 | 0.49 | 0.49 | 0.60 | 19 |
| 01/31/23 | 11.99 | 0.12 | (1.17) | (1.05) | &nbsp;&nbsp;&nbsp;&nbsp;— | (0.04) | (0.04) | 10.90 | (8.72) | 486910 | 0.49 | 0.49 | 1.07 | 8 |
| 01/31/24 | 10.90 | 0.20 | &nbsp;&nbsp;0.97 | &nbsp;&nbsp;1.17 | (0.16) | (0.15) | (0.31) | 11.76 | 10.95 | 509764 | 0.49 | 0.49 | 1.77 | 5 |
| 01/31/25 | 11.76 | 0.25 | &nbsp;&nbsp;1.92 | &nbsp;&nbsp;2.17 | (0.21) | (0.67) | (0.88) | 13.05 | 18.46 | 561277 | &nbsp;&nbsp;&nbsp;&nbsp;0.48(4)(5) | &nbsp;&nbsp;&nbsp;&nbsp;0.48(4)(5) | 1.93 | 7 |
| 07/31/25@ | 13.05 | 0.02 | &nbsp;&nbsp;0.22 | &nbsp;&nbsp;0.24 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;— | 13.29 | 1.84 | 552146 | &nbsp;&nbsp;&nbsp;&nbsp;0.52(6)(7) | &nbsp;&nbsp;&nbsp;&nbsp;0.52(6)(7) | &nbsp;&nbsp;0.28(7) | 6 |

---

---

| | |
|:---|:---|
| @ | Unaudited |
| (1) | Calculated based upon average shares outstanding. |
| (2) | Total return does not include the effect of fees and charges incurred at the separate account level. If such expenses had been included, total return would have been lower for each period presented. |
| (3) | The expense ratios do not include underlying fund expenses that the Portfolio bears indirectly. Additionally, recognition of net investment income by the Portfolio is affected by the timing of the declaration of dividends by the underlying investment companies in which the Portfolio invests. Accordingly, the ratio of net investment income does not reflect the proportionate share of income from these funds. |
| (4) | Includes reimbursement for overbilling of custody fees in prior years of 0.02%. |
| (5) | Includes interest expense of 0.02% relating to derivative or other investment activity. |
| (6) | Includes interest expense of 0.01% relating to derivative or other investment activity. |
| (7) | Annualized |

---

See Notes to Financial Statements

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS (unaudited)

------

#### Item 8 (Form N-CSR) – Changes in and Disagreements with Accountants for Open-End Management Investment Companies
&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### RESULTS OF SPECIAL SHAREHOLDER MEETING (unaudited)

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#### Item 9 (Form N-CSR) – Proxy Disclosure for Open-End Management Investment Companies
&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.

------

[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS (unaudited)

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#### Item 10 (Form N-CSR) – Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.
&nbsp;&nbsp;&nbsp;&nbsp;Remuneration paid to Directors is included in the Statement of Operations.

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### APPROVAL OF ADVISORY AND SUBADVISORY AGREEMENTS (unaudited)

------

#### Item 11 (Form N-CSR) – Statement Regarding Basis for Approval of Investment Advisory Contract.
&nbsp;&nbsp;&nbsp;&nbsp;At a meeting held on April 2, 2025 (the "Meeting"), the Board of Trustees (the "Board"), including the Trustees that are not interested persons of SunAmerica Series Trust (the "Trust"), as defined in the Investment Company Act of 1940, as amended (the "Independent Trustees"), approved a subadvisory agreement (the "Agreement") between SunAmerica Asset Management, LLC ("SunAmerica" or the "Adviser") and BlackRock Investment Management, LLC ("BlackRock" or the "Subadviser") with respect to the SA Emerging Markets Equity Index Portfolio, SA Fixed Income Index Portfolio, SA Fixed Income Intermediate Index Portfolio, SA International Index Portfolio, SA Large Cap Growth Index Portfolio, SA Large Cap Index Portfolio, SA Large Cap Value Index Portfolio, SA Mid Cap Index Portfolio and SA Small Cap Index Portfolio, each a series of the Trust (each, a "Portfolio" and collectively, the "Portfolios").

&nbsp;&nbsp;&nbsp;&nbsp;In connection with the approval of the Agreement, the Board received materials related to certain factors used in its consideration of whether to approve the Agreement. Those factors included:

(1) the requirements of the Portfolios in the areas of investment supervisory and administrative services;

(2) the nature, extent and quality of the investment advisory and administrative services expected to be provided by the Subadviser;

(3) the size and structure of the subadvisory fees and any other material payments to be paid to the Subadviser;

(4) the organizational capability and financial condition of the Subadviser and its affiliates; and

(5) the fees to be paid by the Adviser to BlackRock for managing the Portfolios.

&nbsp;&nbsp;&nbsp;&nbsp;In addition, the Board considered (a) the conditions and trends prevailing in the economy, the securities markets and the investment company industry; (b) the profitability of and amounts retained by SunAmerica; and (c) information regarding the Subadviser's compliance and regulatory history. The Board also took into account extensive information from BlackRock regarding its services provided to the Trust, which materials the Board reviewed at its October 9, 2024 meeting in connection with its consideration of the renewal of the subadvisory agreements with respect to the various series of the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;The Independent Trustees were separately represented by counsel that is independent of SunAmerica and BlackRock in connection with their consideration of approval of the Agreement. The matters discussed below were also considered separately by the Independent Trustees in executive session during which such independent counsel provided guidance to the Independent Trustees.

&nbsp;&nbsp;&nbsp;&nbsp;The Board received information regarding each Portfolio's current and proposed subadvisory fees compared to subadvisory fee rates of a group of funds with similar investment strategies and/or objectives, as applicable (the "Subadvised Expense Group/Universe"), as selected and prepared by an independent third-party provider of investment company data. The Board also received performance data and expense information prepared by management. In addition, the Board considered expenses and performance of the Subadviser with respect to accounts and mutual funds that have comparable investment objectives and strategies to each Portfolio, as applicable.

#### &nbsp;&nbsp;&nbsp;&nbsp;Nature, Extent and Quality of Services Provided by the Subadviser.
&nbsp;&nbsp;&nbsp;&nbsp;The Board, including the Independent Trustees, considered the nature, quality and extent of services expected to be provided by BlackRock. In making its evaluation, the Board considered that SunAmerica acts as adviser for the Portfolios, manages the daily business affairs of the Trust, and obtains and evaluates economic, statistical and financial information to formulate and implement investment policies and provides oversight with respect to the daily management of the Portfolios' assets, subject to the Trustees' oversight and control. The Board noted that although SunAmerica has managed the Portfolios since inception, management was proposing to engage BlackRock as subadviser to the Portfolios because SunAmerica has made a strategic business decision to cease directly managing the Portfolios' passive strategies. It was also noted that SunAmerica's advisory fees compensate SunAmerica for services such as monitoring portfolio performance, selecting and replacing subadvisers, determining asset allocations among each series of the Trust and ensuring that a subadviser's style adheres to the prospectus and statement of additional information as well as other administrative, compliance and legal services or requirements.

&nbsp;&nbsp;&nbsp;&nbsp;With respect to the Subadviser, the Board noted that BlackRock would be responsible for providing investment management services on a day-to-day basis. In such role, BlackRock would, with respect to each Portfolio, (i) manage the investment and reinvestment of the Portfolio's assets; (ii) determine the securities to be purchased or sold and execute such documents on behalf of the Portfolio as may be necessary in connection with its management thereof; (iii) provide SunAmerica with records concerning its activities; and (iv) render regular reports to SunAmerica and to officers and Trustees of the Trust concerning its discharge of the foregoing responsibilities. The Board reviewed BlackRock's history, structure and size, and investment experience. The Board considered the personnel of BlackRock who would be involved in the investment management, administration, compliance and risk management activities with respect to the Portfolio, as well as current and projected staffing levels. The Board was informed that in management's judgment, BlackRock has the size, viability and resources to attract and retain highly qualified investment professionals. The Board reviewed the qualifications, background and responsibilities of the staff of BlackRock who would be responsible for providing investment management services to the Portfolios.

&nbsp;&nbsp;&nbsp;&nbsp;The Board also reviewed and considered BlackRock's compliance and regulatory history, including information about whether it has been involved in any litigation, regulatory actions or investigations that could impair its ability to serve as subadviser to the Portfolios. The Board considered BlackRock's risk assessment and risk management processes. The Board concluded that there was no information provided that would have a material adverse effect on BlackRock's ability to provide services to the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;The Board concluded that it was satisfied with the nature, quality and extent of the services expected to be provided by the Subadviser and that there was a reasonable basis on which to conclude that the Subadviser would provide high quality services to the Trust.

#### &nbsp;&nbsp;&nbsp;&nbsp;Portfolio Fees and Expenses; Investment Performance.
&nbsp;&nbsp;&nbsp;&nbsp;The Board, including the Independent Trustees, received and reviewed information regarding each Portfolio's subadvisory fees (actual and contractual) compared against such fees of its Subadvised Expense Group/Universe. It was noted that with respect to subadvisory fees, SunAmerica negotiates such fees at arm's length. The Board also considered

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### APPROVAL OF ADVISORY AND SUBADVISORY AGREEMENTS (unaudited) — (continued)

------

that the subadvisory fees will be paid by SunAmerica out of its advisory fee and not by the Portfolios, and that subadvisory fees may vary widely within a Subadvised Expense Group/Universe for various reasons, including market pricing demands, existing relationships, experience and success, and individual client needs. The Board further considered the amount of subadvisory fees paid by SunAmerica and the amount of the management fees to be retained. The Board determined that these amounts were reasonable in light of the services performed by SunAmerica and BlackRock, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;To assist in analyzing the reasonableness of the subadvisory fee, the Board received a report prepared independently by Broadridge Financial Solutions, Inc. ("Broadridge"), as well as information provided by management. The Board also considered advisory and subadvisory fees received by BlackRock and performance data with respect to exchange traded funds and live strategies with similar investment strategies to the Portfolios, as applicable (the "Similar Funds"). For each Portfolio, the Subadvised Expense Group and Subadvised Expense Universe consisted of the Portfolio and other passive index funds with similar strategies underlying variable insurance products, as classified by Broadridge.

&nbsp;&nbsp;&nbsp;&nbsp;The performance information included information as of December 31, 2024, from management and BlackRock. On a quarterly basis, the Board monitors and reviews various materials presented and prepared by management, including but not limited to a Portfolio's overall performance, performance relative to the Portfolio's benchmark and Morningstar and Broadridge peer groups, and a subadviser's performance within a portfolio. The Board also considered that management makes particular note of any portfolio that may require closer monitoring or potential corrective action by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;The Board considered the performance of the Similar Funds relative to the applicable benchmark index. In considering this comparative performance information, however, the Board also reviewed relevant distinctions and differences between the Similar Funds and the Portfolios and acknowledged that past performance is not necessarily indicative of future results.

&nbsp;&nbsp;&nbsp;&nbsp;The Trustees noted that the expense and performance information as a whole was useful in assessing whether BlackRock is proposing to provide services at a cost that is competitive with other similar funds.

#### &nbsp;&nbsp;&nbsp;&nbsp;Profitability, Economies of Scale and Other Benefits Derived.
&nbsp;&nbsp;&nbsp;&nbsp;The Board noted that the subadvisory fees paid pursuant to the Agreement are paid by SunAmerica out of its advisory fees. The Trustees also relied on the ability of SunAmerica to negotiate the Agreement and the fees thereunder at arm's length. The Board determined that the profitability to the Subadviser in connection with its relationship with the Portfolios is therefore not a material factor in its consideration of the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;The Board considered other potential indirect benefits to the Subadviser as a result of its relationship with the Portfolios, which could include research benefits obtained by trading the Portfolio's assets, economies of scale, reputational benefits, and the potential for future mandates. For similar reasons as stated above with respect to the Subadviser's profitability, the Board concluded that the potential for economies of scale and other indirect benefits to the Subadviser in its management of the Portfolio are not a material factor in its consideration at this time.

#### &nbsp;&nbsp;&nbsp;&nbsp;Terms of Agreement.
&nbsp;&nbsp;&nbsp;&nbsp;The Board, including the Independent Trustees, reviewed the terms and conditions of the Agreement, including the duties and responsibilities undertaken by SunAmerica and BlackRock as discussed above.

#### &nbsp;&nbsp;&nbsp;&nbsp;Conclusions.
&nbsp;&nbsp;&nbsp;&nbsp;In reaching its decision to recommend the approval of the Agreement, the Board did not identify any single factor as being controlling, but based its recommendation on each of the factors it considered and each Trustee may have attributed different weight to the various factors. Based upon the materials it reviewed, the representations made to it and the considerations described above, and as part of their deliberations, the Board, including the Independent Trustees, concluded that the Subadviser possesses the capability and resources to perform the duties required of it under the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;Further, based upon its review of the Agreement, the materials provided, and the considerations described above, the Board, including the Independent Trustees, concluded that: (1) the terms of the Agreement are reasonable, fair and in the best interest of each Portfolio and its shareholders, and (2) the subadvisory fee rates are fair and reasonable in light of the usual and customary charges made for services of the same nature and quality and the other factors considered.

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### APPROVAL OF ADVISORY AND SUBADVISORY AGREEMENTS (unaudited) — (continued)

------

&nbsp;&nbsp;&nbsp;&nbsp;At a meeting held on April 2, 2025 (the "Meeting"), the Board of Trustees (the "Board"), including the Trustees that are not interested persons of SunAmerica Series Trust (the "Trust"), as defined in the Investment Company Act of 1940, as amended (the "Independent Trustees"), approved a subadvisory agreement (the "Agreement") between SunAmerica Asset Management, LLC ("SunAmerica" or the "Adviser") and FIAM LLC ("FIAM" or the "Subadviser") with respect to the SA JPMorgan Global Equities Portfolio, a series of the Trust (the "Portfolio"). The Board, including the Independent Trustees, further approved the termination of the subadvisory agreement between SunAmerica and J.P. Morgan Investment Management Inc. ("JPMorgan") with respect to the Portfolio. In connection with these approvals, the Board also approved certain changes to the Portfolio's investment objective, strategies and techniques, as well as a change of the Portfolio's name to "SA Fidelity Institutional AM® Global Equities Portfolio."

&nbsp;&nbsp;&nbsp;&nbsp;In connection with the approval of the Agreement, the Board received materials related to certain factors used in its consideration of whether to approve the Agreement. Those factors included:

(1) the requirements of the Portfolio in the areas of investment supervisory and administrative services;

(2) the nature, extent and quality of the investment advisory and administrative services expected to be provided by the Subadviser;

(3) the size and structure of the subadvisory fees and any other material payments to be paid to the Subadviser;

(4) the organizational capability and financial condition of the Subadviser and its affiliates; and

(5) the fees to be paid by the Adviser to FIAM for managing the Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;In addition, the Board considered (a) the conditions and trends prevailing in the economy, the securities markets and the investment company industry; (b) the profitability of and amounts retained by SunAmerica; and (c) information regarding the Subadviser's compliance and regulatory history. The Board also took into account extensive information from FIAM regarding its services provided to the Trust, which materials the Board reviewed at its October 9, 2024 meeting in connection with its consideration of the renewal of the subadvisory agreements with respect to the various series of the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;The Independent Trustees were separately represented by counsel that is independent of SunAmerica and FIAM in connection with their consideration of approval of the Agreement. The matters discussed below were also considered separately by the Independent Trustees in executive session during which such independent counsel provided guidance to the Independent Trustees.

&nbsp;&nbsp;&nbsp;&nbsp;The Board received information regarding the Portfolio's current and proposed subadvisory fees compared to subadvisory fee rates of a group of funds with similar investment strategies and/or objectives, as applicable (the "Subadvised Expense Group/Universe"), as selected and prepared by an independent third-party provider of investment company data. The Board also received performance data and expense information prepared by management. In addition, the Board considered expenses and performance of the Subadviser with respect to accounts and mutual funds that have comparable investment objectives and strategies to the Portfolio.

#### &nbsp;&nbsp;&nbsp;&nbsp;Nature, Extent and Quality of Services Provided by the Subadviser.
&nbsp;&nbsp;&nbsp;&nbsp;The Board noted that management was proposing to replace JPMorgan as subadviser to the Portfolio because JPMorgan would cease to manage the strategy internally in mid-2025. The Board, including the Independent Trustees, considered the nature, quality and extent of services expected to be provided by FIAM. In making its evaluation, the Board considered that SunAmerica acts as adviser for the Portfolio, manages the daily business affairs of the Trust, and obtains and evaluates economic, statistical and financial information to formulate and implement investment policies and provides oversight with respect to the daily management of the Portfolio's assets, subject to the Trustees' oversight and control. It was also noted that SunAmerica's advisory fees compensate SunAmerica for services such as monitoring portfolio performance, selecting and replacing subadvisers, determining asset allocations among each series of the Trust and ensuring that a subadviser's style adheres to the prospectus and statement of additional information as well as other administrative, compliance and legal services or requirements.

&nbsp;&nbsp;&nbsp;&nbsp;With respect to the Subadviser, the Board noted that FIAM would be responsible for providing investment management services on a day-to-day basis. In such role, FIAM would (i) manage the investment and reinvestment of the Portfolio's assets; (ii) determine the securities to be purchased or sold and execute such documents on behalf of the Portfolio as may be necessary in connection with its management thereof; (iii) provide SunAmerica with records concerning its activities; and (iv) render regular reports to SunAmerica and to officers and Trustees of the Trust concerning its discharge of the foregoing responsibilities. The Board reviewed FIAM's history, structure and size, and investment experience. The Board considered the personnel of FIAM who would be involved in the investment management, administration, compliance and risk management activities with respect to the Portfolio, as well as current and projected staffing levels. The Board was informed that in management's judgment, FIAM has the size, viability and resources to attract and retain highly qualified investment professionals. The Board reviewed the qualifications, background and responsibilities of the staff of FIAM who would be responsible for providing investment management services to the Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;The Board also reviewed and considered FIAM's compliance and regulatory history, including information about whether it has been involved in any litigation, regulatory actions or investigations that could impair its ability to serve as subadviser to the Portfolio. The Board considered FIAM's risk assessment and risk management processes. The Board concluded that there was no information provided that would have a material adverse effect on FIAM's ability to provide services to the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;The Board concluded that it was satisfied with the nature, quality and extent of the services expected to be provided by the Subadviser and that there was a reasonable basis on which to conclude that the Subadviser would provide high quality services to the Trust.

#### &nbsp;&nbsp;&nbsp;&nbsp;Portfolio Fees and Expenses; Investment Performance.
&nbsp;&nbsp;&nbsp;&nbsp;The Board, including the Independent Trustees, received and reviewed information regarding the Portfolio's subadvisory fees (actual and contractual) compared against such fees of its Subadvised Expense Group/Universe. It was noted that with respect to subadvisory fees, SunAmerica negotiates such fees at arm's length. The Board also considered that the subadvisory fees will be paid by SunAmerica out of its advisory fee and not by the Portfolio, and that subadvisory fees may vary widely within a Subadvised Expense Group/Universe for various reasons, including market pricing demands, existing relationships, experience and success, and individual client needs. The Board also noted that the

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### APPROVAL OF ADVISORY AND SUBADVISORY AGREEMENTS (unaudited) — (continued)

------

subadvisory fee rates to be paid by SunAmerica to FIAM under the Agreements are lower than those currently paid to JPMorgan for its subadvisory services to the Portfolio. The Board further considered that management had agreed to a contractual advisory fee waiver with respect to the Portfolio that would reduce the fees paid by the Portfolio to SunAmerica by three basis points at each breakpoint. The Board also considered the amount of subadvisory fees paid by SunAmerica and the amount of the management fees to be retained. The Board determined that these amounts were reasonable in light of the services performed by SunAmerica and FIAM, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;To assist in analyzing the reasonableness of the subadvisory fee, the Board received a report prepared independently by Broadridge Financial Solutions, Inc. ("Broadridge"), as well as information provided by management. The Board also considered advisory and subadvisory fees received by FIAM and performance data with respect to other mutual funds and accounts with similar investment strategies to the Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;The Subadvised Expense Group consists of the Portfolio and two other intermediate U.S. government funds underlying variable insurance products ("VIPs"), as classified by Broadridge. The Subadvised Expense Universe consists of the Portfolio and all other intermediate U.S. government funds underlying VIPs with disclosed subadviser agreements, excluding outliers.

&nbsp;&nbsp;&nbsp;&nbsp;The performance information included information as of December 31, 2024, from management and FIAM. On a quarterly basis, the Board monitors and reviews various materials presented and prepared by management, including but not limited to the Portfolio's overall performance, performance relative to the Portfolio's benchmark and Morningstar and Broadridge peer groups, and a subadviser's performance within a portfolio. The Board also considered that management makes particular note of any portfolio that may require closer monitoring or potential corrective action by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;The Board considered the performance of the FIAM Global Select Composite (the "FIAM Strategy") relative to the MSCI World Index. The Board noted that the FIAM Strategy had outperformed the benchmark for the one-, three- and five-year periods ended December 31, 2024, and for four of the previous five calendar years. In considering this comparative performance information, however, the Board also reviewed relevant distinctions and differences between the FIAM Strategy and the Portfolio and acknowledged that past performance is not necessarily indicative of future results, and acknowledged that actual results of the Portfolio may differ.

&nbsp;&nbsp;&nbsp;&nbsp;The Trustees noted that the expense and performance information as a whole was useful in assessing whether FIAM is proposing to provide services at a cost that is competitive with other similar funds.

#### &nbsp;&nbsp;&nbsp;&nbsp;Profitability, Economies of Scale and Other Benefits Derived.
&nbsp;&nbsp;&nbsp;&nbsp;The Board noted that the subadvisory fees paid pursuant to the Agreement are paid by SunAmerica out of its advisory fees. The Board considered that the Agreement also contains breakpoints in the fee schedule; however, since SunAmerica, and not the Trust, is responsible for the payment of the fees pursuant to the Agreement, the Portfolio does not directly benefit from any reduction in those fee rates. The Trustees also relied on the ability of SunAmerica to negotiate the Agreement and the fees thereunder at arm's length. The Board determined that the profitability to the Subadviser in connection with its relationship with the Portfolio is therefore not a material factor in its consideration of the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;The Board considered other potential indirect benefits to the Subadviser as a result of its relationship with the Portfolio, which could include research benefits obtained by trading the Portfolio's assets, economies of scale, reputational benefits, and the potential for future mandates. For similar reasons as stated above with respect to the Subadviser's profitability, the Board concluded that the potential for economies of scale and other indirect benefits to the Subadviser in its management of the Portfolio are not a material factor in its consideration at this time.

#### &nbsp;&nbsp;&nbsp;&nbsp;Terms of Agreement.
&nbsp;&nbsp;&nbsp;&nbsp;The Board, including the Independent Trustees, reviewed the terms and conditions of the Agreement, including the duties and responsibilities undertaken by SunAmerica and FIAM as discussed above. The Board also reviewed the differences in the terms of the Agreement as compared to the terms of the subadvisory agreement between SunAmerica and JPMorgan with respect to the Portfolio.

#### &nbsp;&nbsp;&nbsp;&nbsp;Conclusions.
&nbsp;&nbsp;&nbsp;&nbsp;In reaching its decision to recommend the approval of the Agreement, the Board did not identify any single factor as being controlling, but based its recommendation on each of the factors it considered and each Trustee may have attributed different weight to the various factors. Based upon the materials it reviewed, the representations made to it and the considerations described above, and as part of their deliberations, the Board, including the Independent Trustees, concluded that the Subadviser possesses the capability and resources to perform the duties required of it under the Agreement.Further, based upon its review of the Agreement, the materials provided, and the considerations described above, the Board, including the Independent Trustees, concluded that: (1) the terms of the Agreement are reasonable, fair and in the best interest of the Portfolio and its shareholders, and (2) the subadvisory fee rates are fair and reasonable in light of the usual and customary charges made for services of the same nature and quality and the other factors considered.

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### APPROVAL OF ADVISORY AND SUBADVISORY AGREEMENTS (unaudited) — (continued)

------

&nbsp;&nbsp;&nbsp;&nbsp;At a meeting held on June 5, 2025 (the "Meeting"), the Board of Trustees (the "Board"), including the Independent Trustees (i.e., the Trustees that are not interested persons of SunAmerica Series Trust (the "Trust"), as defined in the Investment Company Act of 1940, as amended (the "1940 Act")), approved a new subadvisory agreement (the "New Agreement") between SunAmerica Asset Management, LLC ("SunAmerica" or the "Adviser") and PineBridge Investments, LLC ("PineBridge" or the "Subadviser") with respect to the SA PineBridge High-Yield Bond Portfolio, a series of the Trust (the "Portfolio").

&nbsp;&nbsp;&nbsp;&nbsp;The New Agreement was considered as a result of the anticipated organizational change of control of that would result from the anticipated acquisition (the "Acquisition") of PineBridge by MetLife Investment Management ("MIM"). The change of control of PineBridge resulting from the Acquisition will effectively constitute an "assignment," as that term is defined by Section 2(a)(4) of the 1940 Act. As required by Section 15(a)(4) of the 1940 Act, the current subadvisory agreement (the "Current Agreement") provides for its automatic termination upon its assignment and therefore will terminate upon the completion of the Acquisition.

&nbsp;&nbsp;&nbsp;&nbsp;In connection with the approval of the New Agreement, the Board received materials related to certain factors used in its consideration of whether to approve the New Agreement. Those factors included:

(1) the requirements of the Portfolio in the areas of investment supervisory and administrative services;

(2) the nature, extent and quality of the investment advisory and administrative services expected to be provided by the Subadviser;

(3) the size and structure of the subadvisory fees and any other material payments to the Subadviser;

(4) the organizational capability and financial condition of the Subadviser, MIM and their affiliates, including with respect to the organizational and financial impacts of the Acquisition;

(5) the fees to be paid by the Adviser to the Subadviser for managing the Portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;In addition, the Board considered (a) the conditions and trends prevailing in the economy, the securities markets and the investment company industry; (b) the profitability of the Subadviser and the amounts retained by SunAmerica; and (c) information regarding the Subadviser's compliance and regulatory history. The Board also took into account extensive information from PineBridge regarding its services provided to the Trust, which materials the Board reviewed at a meeting on October 9, 2024 (the "October Meeting") in connection with its consideration of the renewal of the Current Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;The Independent Trustees were separately represented by counsel that is independent of SunAmerica and the Subadviser in connection with their consideration of approval of the New Agreement. The matters discussed below were also considered separately by the Independent Trustees in executive sessions during which such independent counsel provided guidance to the Independent Trustees.

&nbsp;&nbsp;&nbsp;&nbsp;At the October Meeting, the Board received information regarding the Portfolio's subadvisory fees compared to subadvisory fee rates of a group of funds with similar investment strategies and/or objectives, as applicable (the "Subadvised Expense Group/Universe"), as selected and prepared by an independent third-party provider of investment company data. The Board also received performance data and expense information prepared by management and PineBridge. In addition, the Board considered expenses and performance of the Subadviser with respect to accounts and mutual funds that have comparable investment objectives and strategies to the Portfolio.

#### &nbsp;&nbsp;&nbsp;&nbsp;Nature, Extent and Quality of Services Provided by the Subadviser.
&nbsp;&nbsp;&nbsp;&nbsp;The Board, including the Independent Trustees, considered the nature, quality and extent of services expected to be provided by the Subadviser. In making its evaluation, the Board considered that SunAmerica acts as adviser for the Portfolio, manages the daily business affairs of the Trust, and obtains and evaluates economic, statistical and financial information to formulate and implement investment policies and provides oversight with respect to the daily management of the Portfolio's assets, subject to the Trustees' oversight and control. It was also noted that SunAmerica's advisory fees compensate SunAmerica for services such as monitoring portfolio performance, selecting and replacing subadvisers, determining asset allocations among each series of the Trust and ensuring that a subadviser's style adheres to the prospectus and statement of additional information as well as other administrative, compliance and legal services or requirements.

&nbsp;&nbsp;&nbsp;&nbsp;With respect to the Subadviser, the Board noted that the services currently provided by PineBridge for the Portfolio will not change under the New Agreement. The Board further noted that the Subadviser would continue to be responsible for providing investment management services on a day-to-day basis. In such role, PineBridge will (i) manage the investment and reinvestment of the Portfolio's assets; (ii) determine the securities to be purchased or sold and execute such documents on behalf of the Portfolio as may be necessary in connection with its management thereof; (iii) provide SunAmerica with records concerning its activities; and (iv) render regular reports to SunAmerica and to officers and Trustees of the Trust concerning its discharge of the foregoing responsibilities. The Board reviewed the Subadviser's history, structure and size, and investment experience. The Board was informed that in management's judgment, the Subadviser has the size, viability and resources to attract and retain highly qualified investment professionals. The Board reviewed the qualifications, background and responsibilities of the staff of the Subadviser that would be responsible for providing investment management services to the Portfolio as well as current and projected staffing levels. The Board considered that the personnel of the Subadviser that would be responsible for advising the Portfolio, including the key personnel that will be involved in the investment management activities with respect to the Portfolio, will not change as a result of the Acquisition. The Board also considered that the investment strategies and techniques utilized by those personnel will not change as a result of the Acquisition. The Board noted that the continuity of the Portfolio's day-to-day investment management is therefore expected to remain intact.

&nbsp;&nbsp;&nbsp;&nbsp;The Board also reviewed and considered the Subadviser's compliance and regulatory history, including information about whether it has been involved in any litigation, regulatory actions or investigations that could impair its ability to continue to serve as subadviser to the Portfolio. The Board considered the Subadviser's risk assessment and risk management processes. The Board concluded that there was no information provided that would have a material adverse effect on the Subadviser's ability to provide services to the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;The Board concluded that it was satisfied with the nature, quality and extent of the services expected to be provided by the Subadviser and that there was a reasonable basis on which to conclude that the Subadviser would provide high quality services to the Trust.

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

#### SunAmerica Series Trust

#### APPROVAL OF ADVISORY AND SUBADVISORY AGREEMENTS (unaudited) — (continued)

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#### &nbsp;&nbsp;&nbsp;&nbsp;Portfolio Fees and Expenses; Investment Performance.
&nbsp;&nbsp;&nbsp;&nbsp;At the October Meeting, the Board, including the Independent Trustees, received and reviewed information regarding the Portfolio's subadvisory fees (actual and contractual) compared against such fees of its Subadvised Expense Group/Universe. It was noted that with respect to subadvisory fees, SunAmerica negotiates such fees at arm's length. The Board also considered that the subadvisory fees are paid by SunAmerica out of its advisory fee and not by the Portfolio, and that subadvisory fees may vary widely within a Subadvised Expense Group/Universe for various reasons, including market pricing demands, existing relationships, experience and success, and individual client needs. The Board further considered the amount of subadvisory fees paid by SunAmerica and the amount of the management fees which it retained, noting that there will be no change in the management fee paid by the Portfolio to SunAmerica. The Board also noted that the subadvisory fee rates to be paid under the New Agreement are the same as those under the Current Agreement. The Board determined that these amounts were reasonable in light of the services performed by SunAmerica and the Subadviser, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;The Board noted that in considering the reasonableness of the subadvisory fees, it had considered extensive expense and performance information during its consideration of the renewal of the Current Agreement at the October Meeting. The Board noted that at that meeting, it had received a report prepared independently by Broadridge Financial Solutions, Inc. ("Broadridge"), as well as information provided by management. The Board also noted that it considered advisory fees received by the Subadviser with respect to other mutual funds and accounts with similar investment strategies to the Portfolio, as well as performance data from management and the Subadviser with respect to the Portfolio and any other mutual funds or other accounts advised or subadvised by the Subadviser with similar investment objectives and/or strategies, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;On a quarterly basis, the Board monitors and reviews various materials presented and prepared by management, including but not limited to each portfolio's overall performance, performance relative to the portfolio's benchmark and Morningstar and Broadridge peer groups, and a subadviser's performance within a portfolio. The Board also considered that management makes particular note of any portfolio that may require closer monitoring or potential corrective action by the Board. The Trustees noted that the expense and performance information as a whole was useful in assessing whether the Subadviser will provide services at a cost that is competitive with other similar funds.

#### &nbsp;&nbsp;&nbsp;&nbsp;Profitability, Economies of Scale and Other Benefits Derived.
&nbsp;&nbsp;&nbsp;&nbsp;The Board noted that the subadvisory fees paid pursuant to the New Agreement are paid by SunAmerica out of its advisory fees. The Trustees also relied on the ability of SunAmerica to negotiate the New Agreement and the fees thereunder at arm's length. The Board determined that the profitability to the Subadviser in connection with its relationship with the Portfolio is therefore not a material factor in its consideration of the New Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;The Board noted that it had previously received and considered information regarding economies of scale expected to be achieved by the Trust in connection with the consideration of the renewal of the Current Agreement. The Board considered that the New Agreement also contains breakpoints in the fee schedule; however, since SunAmerica, and not the Trust, is responsible for the payment of the fees pursuant to the New Agreement, the Trust does not directly benefit from any reduction in those fee rates. The Board also considered other potential indirect benefits to the Subadviser as a result of its relationship with the Portfolio, which could include research benefits obtained by trading the Portfolio's assets, economies of scale, reputational benefits, and the potential for future mandates. For similar reasons as stated above with respect to the Subadviser's profitability, the Board concluded that the potential for economies of scale and other indirect benefits to the Subadviser in its management of the Portfolio are not a material factor in its consideration at this time.

#### &nbsp;&nbsp;&nbsp;&nbsp;Terms of New Agreement.
&nbsp;&nbsp;&nbsp;&nbsp;The Board, including the Independent Trustees, reviewed the terms and conditions of the New Agreement, including the duties and responsibilities undertaken by SunAmerica and the Subadviser as discussed above. The Board also considered that the material terms of the New Agreement are identical to those of the Current Agreement. Accordingly, the Board considered the differences in terms between the New Agreement and the Current Agreement and found those differences to be reasonable.

#### &nbsp;&nbsp;&nbsp;&nbsp;Conclusions.
&nbsp;&nbsp;&nbsp;&nbsp;In reaching its decision to recommend the approval of the New Agreement, the Board did not identify any single factor as being controlling, but based its recommendation on each of the factors it considered and each Trustee attributes different weight to the various factors. Based upon the materials it reviewed, the representations made to it and the considerations described above, and as part of their deliberations, the Board, including the Independent Trustees, concluded that the Subadviser possesses the capability and resources to perform the duties required of it under the New Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;Further, based upon its review of the New Agreement, the materials provided, and the considerations described above, the Board, including the Independent Trustees, concluded that: (1) the terms of the New Agreement are reasonable, fair and in the best interest of the Portfolio and its shareholders, and (2) the subadvisory fee rates are fair and reasonable in light of the usual and customary charges made for services of the same nature and quality and the other factors considered.

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[**Table of Contents**](#JOB_NEW_F_c7679f89-8f9c-4168-806f-a14bbcf4ecca_TOC)

Annuity Service Center

P.O. Box 15570

Amarillo, TX 79105-5570

(02/25)

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#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.
Included in Item 7 above.

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#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Item 9. Proxy Disclosures for Open-End Management Investment Companies.
Included in Item 7 above.

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#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.
Included in Item 7 above.

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#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.
Included in Item 7 above.

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#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.

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#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Item 13. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.

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#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.

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#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Item 15. Submission of Matters to a Vote of Security Holders.
There were no material changes to the procedures by which shareholders may recommend nominees to the registrant's Board of Directors that were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15)) of Schedule 14A (17 CFR 240.14a-101), or this Item 15.

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#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Item 16. Controls and Procedures.
(a) An evaluation was performed within 90 days of the filing of this report, under the supervision and with the participation of the registrant's management, including the Principal Executive Officer and Principal Financial Officer, of the effectiveness of the design and operation of the registrant's disclosure controls and procedures (as defined under Rule30a-3(c) under the Investment Company Act of 1940 (17 CFR 270.30a-3(c))). Based on that evaluation, the registrant's management, including the Principal Executive Officer and Principal Financial Officer, concluded that the registrant's disclosure controls and procedures are effective.

(b) There was no change in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940 (17 CFR 270.30a-3(d))) that occurred during the 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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#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.

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#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Item 18. Recovery of Erroneously Awarded Compensation.
(a) Not applicable.

(b) Not applicable.

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#### Item 19. Exhibits.
(a)(1) Not applicable.

(a)(2) Not applicable.

(a)(3) A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is attached hereto as [EX-99.CERT](EX-99.CERT.htm).

(a)(4) Not applicable.

(a)(5) Not applicable.

(b) The certifications of each principal executive officer and principal financial officer pursuant to Rule 30a-2(b) under the Investment Company Act of 1940, as amended, (17 CFR 270.30a-2(b), Rule 13a-14(b) or Rule 15d-14(b)) are attached hereto as [EX-99.906 CERT](EX-99.906CERT.htm).

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#### 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.

SunAmerica Series Trust

By: /s/ John T. Genoy

John T. Genoy

Principal Executive Officer

Date: October 7, 2025

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By: /s/ John T. Genoy

John T. Genoy

Principal Executive Officer

Date: October 7, 2025

By: /s/ Gregory R. Kingston

Gregory R. Kingston

Principal Financial Officer

Date: October 7, 2025

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## Ex-99.Cert

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **EX-99.CERT** <br>

CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT

I, John T. Genoy, certify that:

1. I have reviewed this report on Form N-CSR of SunAmerica Series 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 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 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: October 6, 2025

/s/ John T. Genoy

John T. Genoy

Principal Executive Officer

CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT

I, Gregory R. Kingston, certify that:

1. I have reviewed this report on Form N-CSR of SunAmerica Series 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 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 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: October 6, 2025

/s/ Gregory R. Kingston

Gregory R. Kingston

Principal Financial Officer

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## Exhibit 99.906

#### EX-99.906 CERT
CERTIFICATIONS PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT

John T. Genoy, Principal Executive Officer, and Gregory R. Kingston, Principal Financial Officer of SunAmerica Series Trust (the "registrant"), each certify to the best of his knowledge that:

1. The attached Form N-CSR report of the registrant fully complies with the requirements of Sections 13(a) and 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in such N-CSR report fairly represents, in all material respects, the financial conditions and results of operations of the registrant as of, and for, the periods presented in the report.

Dated: October 6, 2025

/s/ John T. Genoy

John T. Genoy

Principal Executive Officer

/s/ Gregory R. Kingston

Gregory R. Kingston

Principal Financial Officer

------